9 Barrow - 5J

By demsker on May 8, 2009 | In Market Information | 1 feedback »

9 Barrow, between 6th and 7th Avenue, is a former commercial building (Printing Factory), circa 1897, turned into apartments. Each unit has unique features and high ceilings. The building provides PT doorman, common storage and a bike room.

Unit 5J - marketed by Prudential Douglas Elliman.

Facts: Studio with renovation, high ceilings and northern ezxposure.

Pricing: Currently this unit is asking $399,000.00 and the last like kind comparable sale of 3J in 5/07 for $495,000. Current asking is approx. 20% off the last in line comparable sale.

Why its a deal now:
The pricing and solid upside for the future are present. In addition this unit has been renovated and is in turn key shape. The building offers solid location close to everything and with the high ceilings the unit feels more spacious than similar studios.

Tower 270 - Tribeca - 19C

By demsker on May 4, 2009 | In Market Information | 1 feedback »

Tower 270, a quality conversion of an older office building, built in 1929 and converted to condos in 2002, in Tribeca. The building features: Doorman, Gym, Laundry Room, Common Storage Area, and a Roof Deck (one of the highest in Tribeca). While Broadway can get a bit busy, you are surrounded by transportation, across from City Hall Park and are within walking distance of entertainment.

My personal findings are new conversions or developments built in 04' or earlier tend to have larger room sizes and were made with a bit more quality. As the boom mushroomed, apartment room sizes seemed to decrease as did the quality of construction.

Facts: 2 bedrooms, 2.5 baths, Condo, 2000 square feet, monthlies 3197 (total CC + RET), 10' ceiling, Laundry in Apartment. Marketing By Douglas Elliman.

Pricing:
Currently this unit 19C, marketed by Douglas Elliman, is asking 1.925MM. They are currently $125,000.00 under the sales price of 19C in May of 2005.

Why it's a Deal Now:
Tower 270 is a full service building that offers spacious layouts and used high quality materials on the interior of the lofts. With their pricing down to 2005 levels you have an opportunity for further discount and you'll be receiving a quality loft.