60 Beach Street

Potential Tribecans tend to circle this one because there's not much inventory out there, and it's new. Generally the report is: good finishes, near the tunnel.

Are you only interested in new developments?

ali r.
{downtown broker}

Big apartments at peak 2007 ppsf means very expensive.
I toured this development and it looks like quality is good. Layouts are great. Perfect for families.
Location is also good. It's not that close to the tunnel. One of the tunnel exits does come out at Beach but that exit is the one sign posted for going north up Hudson and then 8th ave. If you want to go west or south along Greenwich then the first eixt onto Laight is sign posted for that. As such, you get very little traffic on Beach between Hudson and Greenwhich which is where 60 Beach is.

Monthlies are high, prices are high and there are a few Rent Regulated holdouts (not sure if RS or RC) but that should not mean much to any buyer.

I'd say that prices have to come down to closer to 1200 psf rather than the 1500 that they are now for this to start moving.

thanks divvie, as far as i know there is only 1 unit left for sale. do you think a buy in the 1150 psf neighborhood would be good value?

Wow - that surprises me. I haven't checked for a while but they were on the market for a while.
I would bet that the contracts were signed at a discount and would be interested to see if they close.

Depends on the building.
If it were Atalanta, Dietz Lantern, Ice House, 124 Hudson, Riverlofts, Bazzini, Fisher Mills, 166 Duane, 19 Beach, then I would say 1150 psf is a bargain (except for 2nd floor facing courtyard in Dietz Lantern - should be cheaper).

Most other mid tier buildings such as 53 North Moore, many of the 5/6 story lofts on Duane and Franklin, 90 Franklin I would be buying at 800/900 psf.

Others such as 275, 303, 303 Greenwich some of the coop lofts I would buy at 600 psf.