The Real Deal New York

Residential deals: SoHo 3B sells for $6.17M, 1,212 sf unit in FiDi goes for $1.425M and more

February 01, 2014
By Sasha Von Oldershausen

40 Mercer Street, Apt. 4E

40 Mercer Street, Apt. 4E

Soho
$6.17 million
40 Mercer Street, Apt. 4E

Three-bedroom, three-and-a-half bath, 2,370-square-foot unit in a postwar condo building designed by Jean Nouvel; apartment has floor-to-ceiling windows,; master bedroom has a walk-in closet; building has a concierge, rooftop terrace, 50-foot pool, fitness room and private lounge; common charges $4,138 per month; taxes $1,485 per month; asking price $7 million, 142 days on the market. (Broker: Ryan Serhant, Nest Seekers International)

“The apartment was owned by two brothers who were going to college in New York. Instead of a dorm room, their parents bought the apartment. We listed it at the beginning of the summer, and at the time there was little inventory for three bedrooms in Soho, so we priced aggressively at $7 million. There was one issue: It was a little bit messy and we kind of had to have an intervention and clean up the apartment. We had multiple showings. The buyer lived in Soho but was looking for something a little bit bigger. The first offer was very low and we negotiated. We started to include the furniture. The buyer really liked it, and it made a big difference, so we included it in the purchase.” Ryan Serhant, Nest Seekers

Financial District
$1.43 million
111 Fulton Street, Apt. 506

One-and-a-half bedroom, two-bathroom, 1,213-square-foot unit in a prewar condo building, the District; apartment has 11-foot ceilings, solid wood floors and bathroom with Jacuzzi tub; building has concierge and doorman; common charges $1,220 per month; asking price $1.449 million; 53 days on the market. (Brokers: Russell Putterman and Reanne Agbayani, Focus Real Estate Group; James Alesi, Douglas Elliman)

“The seller was a longtime friend and client who had purchased the unit in 2010 directly from the sponsor. I also represented them when they purchased. They paid about $970,000. They saw there was continued increase in demand for places in that neighborhood, particularly in that building. It’s very highly desired down there because it’s on Fulton Street, and there’s so much change going on. There’s the new Gehry building, people want to be there. We got one of the highest per foots in the building — about $1,175 per foot. It was purchased by what we perceived to be an investor because they are renting it.” Russell Putterman, Focus Real Estate Group

Chelsea
$3.65 million
520 West 19th Street, Apt. 3C

Three-bedroom, two-and-a-half bath, 1,980-square-foot unit in a condo built in 2007, 520 West Chelsea; building is located between the High Line and Hudson River Park; building has 24-hour doorman; apartment has open plan kitchen and master bath wrapped in white marble; common charges $2,020 per month; taxes $402 per month; asking price $3.695 million; nine weeks on the market. (Brokers: Mark Griffith and Cindy Scholz, Citi Habitats; Samir Mahadin, Michel Madie Real Estate)

“The general vibe of the building and the design of the layout ended up being the initial draws for both the sellers and the new buyers. The layout of the apartment is truly fantastic. The home feels closer to 2,400 square feet than the nearly 2,000 square feet listed. The boutique nature of the building also ended up being a big selling point for the buyers. At the first showing, they lingered for almost 30 minutes, sat on the couch toward the end, and commented on the ‘Zen-like feel’ of the space.” Mark Griffith, Citi Habitats