Pleasantly Surprised with Manhattan Loft Prices

September 23, 2009

A Manhattan Loft

A Manhattan Loft

After being away from NYC for several years, I was pleasantly surprised at the price reductions on apartments and lofts in the areas of Soho and TriBeCa. After being a real estate broker for over 16 years, I had watched loft prices rise and rise to a completely unaffordable price point – or at least unaffordable to most potential dwellers. Why should lofts in Soho or TriBeCa be so expensive? It made me sad because I grew up in a loft in Soho.

There are lofts with extremely high end finishes and are designed by top designers which are featured in Architectural Digest etc…However, there were and are plenty of lofts that are well appointed, yet are not design dream boats. Regardless, landlords were charging exorbitant rents for the more rustic spaces, no different than the well appointed lofts.  It was sad really.  Prices had reached a critical high.  I decided at that point to stop being a broker and move out to the Hamptons and spend my time surfing.

Now I have returned to Manhattan, and I am very pleased to see lofts prices and apartment prices in the Downtown area return to more realistic price points. I’m pleased to work with landlords that are negotiable with their rents, to a realistic point, and have once again put myself in a position to represent a very healthy amount of properties in the West Village, Soho and Tribeca. I won’t forget the East Village either. The inventory is plenty and I can once again feel good about finding people homes they love and can afford.

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Here are some price examples:

$8,900.00 down from $10,500.00 for a  2500 square foot  loft in Tribeca
$5,200.00 down from $6,500.00 for a 1900 square foot loft in Soho
$4250.00 even $4000 down from $5000
$3500 down from $4000………………………..you get the idea.

I’m accessible and you can call me if you want to check these deals out.

I can be reached by phone: 917-653-5257 or Email tiger@benjaminjames.com

You can also view some of my inventory here: http://www.benjaminjames.com/index.cfm?page=agents&state=profile&id=225

Tiger Koehn

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