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examples of recent transactions downtown with motivated sellers?

Started by gutterballs
almost 17 years ago
Posts: 29
Member since: Mar 2009
Discussion about
i'm curious if others have seen any good distressed condo sales recently and/or can verify the few i've seen. for instance streeteasy shows a 1800 sf penthouse on west 22nd st that sold for $3.2m in july 2007. the same condo is shown closing at $1.495m 3 weeks ago. i'd also be equally interested to see very recent examples where things might have closed higher than you would expect.
Response by jimstreeteasy
almost 17 years ago
Posts: 1967
Member since: Oct 2008

can u give the precise address for that property

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Response by tenemental
almost 17 years ago
Posts: 1282
Member since: Sep 2007
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Response by gutterballs
almost 17 years ago
Posts: 29
Member since: Mar 2009

jim - 116 W 22nd S, Apt. PH-B

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Response by jasonkyle
almost 17 years ago
Posts: 891
Member since: Sep 2008

ok this has been covered before but that penthouse apartment in the SOMA never sold. the developer kept it and rented it out for a year then priced it insanely low to have a bidding war. they did one day of open houses and at least 60 people came. they had 3 all cash, over-ask offers when we got there halfway through the OH and talked to the brokers. it did not sell for the contract price. it is not a good example of what you are looking for here. i would have LOVED to get that apartment but it just wasn't ever really available for that price.

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Response by jasonkyle
almost 17 years ago
Posts: 891
Member since: Sep 2008

the unit that sold for 3.2 is the one below it that is supposedly "penthouse a" even though it isn't on the top floor.

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Response by gutterballs
almost 17 years ago
Posts: 29
Member since: Mar 2009

thanks. that deal sounded a bit too low. any clue on where it actually closed?

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Response by jasonkyle
almost 17 years ago
Posts: 891
Member since: Sep 2008

no but i await the figure with interest. some broker on here will tell us at some point i am sure. i will ask mine if he knows.

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Response by jimstreeteasy
almost 17 years ago
Posts: 1967
Member since: Oct 2008

That building's description is utterly ludicrous, assinine, new-age speak, horse poo piled very high. If they have a bamboo grove, shouldn't there also be some live animals milling about, to truly be on
e with nature. Do the buidling rules require you to be vegetarian, or wear black all the time?

FROM SE DESCRIPTION:

SOMA is conceived as a sanctuary for body and soul. Located in Chelsea between the Gallery District and Sixth Avenue, Soma offers a serene environment that reconciles urban life and private living.

From the lobby’s bamboo grove and reflecting pool to the interior’s harmonious selection of natural materials and finishes, SOMA’s design focuses on the human body and senses: function is not sacrificed to utility but always subordinate to a feeling of comfort and well-being.

You’ve lived in apartments. Lofts, flats, studios and suites: it’s time to come home.

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Response by truthskr10
over 16 years ago
Posts: 4088
Member since: Jul 2009

Ok I went to this open house the last day before any more offers could be given and the agent said no bids under 1.5 would be accepted. he also said there were 3 offers over 1.5.
It is 3 months later and no closing on acris.
There was a lien filed for common charges on PHA and PHB.
After reading these threads and the extra info provided, is it possible the sale of 3.2mil may be for both PHA and PHB?

Something is weird with this property. The apt was ok, not great, not terrible.

Any new news on this apt?

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Response by truthskr10
over 16 years ago
Posts: 4088
Member since: Jul 2009

sorry, this post ended up in the wrong thread

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Response by arfa
almost 14 years ago
Posts: 4
Member since: Sep 2009

The developer who was behind Soma, Yanko sold PHB to himself. So there really never was any "sale" at $3.2m.

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