Tag: Tribeca

Why Are 3+ Bedroom Tribeca Lofts in Such Demand?

Why Are 3+ Bedroom Tribeca Lofts in Such Demand? Tribeca Lofts - N Moore Street - New York (Photo By Tony Sargent)

Walking in Tribeca today on N. Moore Street, I noticed this scene outside the Montessori School and it made me smile. Then I thought, is this a big reason why 3-bedroom Tribeca lofts have been in such demand for the last 18 months?

In part, yes. To understand Tribeca inventory we need to go back to the late 1990s when a lot of Tribeca lofts were first being converted en mass for residential use. At that time, many clients (and developers) assumed that they would stay in a loft for 4-5 years and then move on to the suburbs. Developers created big apartments (space was a way of attracting people downtown from uptown, as very few residential services existed in Tribeca at the time); however as there wasn’t a huge demand for 3-bedrooms, a lot of buildings were converted in such a way that 2-Bedroom, 2,000 square foot spaces were common. Read more…

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Tight Inventory and More Buyers Lead to Multiple Bids Downtown

Tight Inventory and More Buyers Lead to Multiple Bids Downtown 380 West 12th St, Apt 4D - West Village, New York

The Manhattan Real Estate Market has tightened in the last months and even more for Downtown Condos and Downtown Co-ops. Accurately priced properties are receiving multiple bids again. Open Houses are getting crowded again. My new Loft listing at 380 West 12th St – Apt 4D, had over 45 people visit the first open house, Sunday March 13th. Contract volume is up, new inventory is down.

In January, a Penthouse Loft in Tribeca (approx. 1,900 SqFt + a terrace) was listed for $2.9 Million for two weeks but did not sell. Last week the sellers put it back the market for $2.6 Million. The open house was mobbed, multiple bids were received and the seller accepted an offer in two days. A recent article in The Real Deal highlighted Read more…

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Go Behind the Curtains in Tribeca, For Duane Park

Go Behind the Curtains in Tribeca, For Duane Park

The Tribeca Citizen reported that the Friend’s of Duane Park’s 11th Annual Tribeca Loft Tour is October 17th.  You have four hours to visit the 10 properties on the tour.  From the looks of the home TTC visited, you might get to see some cool lofts, pick up some design ideas, and see the future home of your dreams (in case it ever comes on the market).  Read more…

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34 Leonard St in Tribeca Returns as a Rental

34 Leonard St in Tribeca Returns as a Rental

In 2007, when anything went, a lot on the SW corner of Leonard St and West Broadway which housed a sports bar became a construction site. There rose 34 Leonard St. A small handsome building with 16 units, which tried to integrate the Loft Exteriors of the neigbhorhood into the design. It also tried to capture the essence of the time, naming it’s own Sommelier for the project. Yes, your apartment was coming with a wine-specialist. Much was hoped for it, however it failed to close buyers. Perhaps among other things one major drawback was that it was a Condop (a Coop with Condo rules) in a condo world. The developer had to lease the land it was being built on, so it could not be a condo.

Why do land lease buildings get a bad rap? Read more…

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