LuxuryBlurb
Posts Tagged ‘townhouse’
Tuesday, April 24th, 2012
 Posted by Leonard Steinberg on April 24th, s012
The 64 Perry Street house noted for its appearance on ‘Sex and the City’ has re-sold (after the original buyers won an intense bidding war 6 months earlier) for $ 9.85million. The house had traded above the asking price 6 months ago (and again it traded this time round above the $ 9.65m asking price. When it sold in November 2011 it was considered a record sale price: while the location, detailing, garden, etc are all truly magnificent, the house needs a complete, gut renovation. Now, 6 months later it indicates a market escalation of over 8%…..
The house measures roughly 4,100sf : so initially it sold for almost $ 2,200/sf…..now its re-sold for $2,400/sf. That is a record price for a house requiring a gut renovation: does it set the bar higher for what we should expect townhouses in the West Village to trade for in the future assuming most townhouse renovations of this caliber cost around $ 1,000/sf? Maybe in West Village townhouse valuations, $ 3,000/sf is the new $ 2,000/sf……
Monday, November 1st, 2010
A goregous townhouse on Grove Street in Greenwich Village has gone to contract close to its $ 15million+ asking price. Attached are some pictures of this beauty. The property was gut renovated by Triton Enterprises and never lived in, over 5,000sf in size.
“The key to this story is,” says Leonard Steinberg, managing director of Prudential Douglas Elliman and publisher of Luxuryletter, “It sold FAST, mostly because its a beauty, but more importantly because it was in move-in condition, superbly renovated, in a prime location. There is a shortage of this type of property. We just closed on 60 Jane Street, also a beautifully renovated Greenwich Village townhouse that sold for a premium price.”
Friday, March 12th, 2010
Led by a big gain in electronics, U.S. retail sales increased 0.3% to a seasonally-adjusted $355.5 billion in February, despite three major snow storms in the East, the Commerce Department estimated Friday.
Sales have risen in four of the past five months, and were up 3.9% compared with a year earlier. Most categories of retailers recorded month-over-month increases in February, driving sales to their biggest percentage gain since November, the government said. Auto and truck sales were one exception, falling 2% compared with January. Sales at health- and personal-care stores dropped the most in six years. Excluding autos and trucks, retail sales increased 0.8% to $297.7 billion in February, the largest gain since November.
The storms had “no noticeable effect on retail sales,” wrote Brian Fabbri, an economist for BNP Paribas. Sales at non-store retailers, such as catalogs and online stores, were unchanged. “While we are not expecting the consumer to come roaring back in the near-term, improvements have been quicker than expected considering the still-distressed state of the labor market,” wrote Adam York, an economist for Wells Fargo Securities.
February sales were better than expected. Economists surveyed by MarketWatch were expecting February sales to be unchanged, and for sales excluding autos to rise 0.1%.
Retail reflects the real estate market in some way: February was brutally cold and stormy, yet sales were brisk. We ponder what sales will produce when the weather warms up….and it is…..and we are seeing LOTS of activity in the luxury real estate market. March’s figures will be interesting indeed!
Wednesday, January 27th, 2010
Is 14th Street becoming chic? If the rumors about the imminent opening of a highly exclusive SOHO HOUSE-style private club are true, it would appear so. The club, THE NORWOOD, will be located in a sensational mid-19th Century Greek revival townhouse and membership will be strictly by invitation only….The club could be an important bridge connecting Chelsea, the Village and the Meatpacking District….with the Highline Park connecting this to the rest of West Chelsea. Verrry chic!
Tuesday, January 26th, 2010
Pop Diva Madonna is back in New York aggressively looking for a grand mansion to house her ever-expanding family. She has been spotted on the Upper East Side looking at some of the grandest townhouses ($30m+). Obviously she is avoiding co-ops after her humiliating Board turn-down at the San Remo at the beginning of her career when her pin-up pictures in Playboy may have been a little too upsetting (was it the nudity or the armpits?).
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