Checking in on the Satori
Since closings began at the Satori condo in September, there have been 20 sales in the 34-unit building recorded in public records. Meanwhile, StreetEasy says another 10 units are in contract and there only two remaining condos with active listings. If all the in-contracts close, the Bond Street building will definitely be a sales success…
Since closings began at the Satori condo in September, there have been 20 sales in the 34-unit building recorded in public records. Meanwhile, StreetEasy says another 10 units are in contract and there only two remaining condos with active listings. If all the in-contracts close, the Bond Street building will definitely be a sales success story. The prices for the two listed units are $459,000 for a 1-bedroom and $699,000 for a two-bedroom.
First Closings Recorded at the Satori [Brownstoner] GMAP
More Price Cuts at The Satori [Brownstoner]
Satori Developers Try for a Mulligan [Brownstoner]
Checking In On The Satori [Brownstoner]
Price Cuts at the Satori [Brownstoner]
Satori Condos Get the Chop [Brownstoner]
Development Watch: 340 Bond Street [Brownstoner]
I’ll take your word for it then Joe. I looked at a few of the recent ones and saw 600 and 650, but now do see a few which sold for around 500 psf also. In any event, I’m just glad to see they’ve sold. Average of $563 psf ain’t bad for this place, in my opinion.
well, 600/650 is pretty good then. my post took your 500psf as the clearing price.
as i recall, we had a good dustup over this ppty previously.
my remaining question is how buyers value the low ceilinged and inaccessible (see pbk post) mezzanine areas. if 600/650 was achieved on sq ft that includes mezz at 100%, then wow wow wow.
and then third+bond is feeling better…
Antidope:
Did you see that former HOTD, 448 6th Street has gone to contract…?
I’m interested to see what this one sold for.
This was the house where Miss Muffet said it would sell for 1.6 – 1.7 million TOPS, and Mr. Joist asked her if she’d like to make a friendly $1,000 wager if it sold for over 1.7 million.
🙂
11217,
here’s what i’m seeing on the streeteasy page for the building:
57 previous sales listings: $563 per ft² (avg)
I can’t see the final sales prices because i’m not a subscriber. But, I would imagine that the final sales were not 10-15% higher than the asks.
Actually I’m seeing most of the units recently sold around 600/650 psf. A couple are as low as 500 psf it looks like, yes.
In any event, I think it’s great that they dropped the prices and are getting them filled up. That’s what we need.
**
Just a little side info here, a quote from Jonathan Miller yesterday on inventory levels in Manhattan:
“One thing is clear, inventory has been falling, and falling rapidly in 2009. Inventory tends to decline in the last several months of any given year, while rising substantially at the beginning of the year. What’s different this year from prior years is the amount of inventory decline seen since last spring. Down 28% from March 2009”
*7680 listings is the 10 year average for Manhattan inventory. They are now at 8656 as of today.
yes. i wouldn’t get too excited about these sales. i’d have to guess there was bank action and then sharp price reductions to move and pay off construction loan.
this is the mark that third+bond will have to beat substantially ($200psf?) to stay out of bank trouble.
it’ll be a good measure of the change in market (if any), substantial marketing effort and a LEED design.
you’re right, 11217. All the comments on what a horrible location and all the snarky comments.
Although on inside of the units it wasn’t my thing (very steep stairs to mezz.) Not something drinkers like.
I’ll start by eating mine. I’m very surprised at how well this place has done.
I still think that it is overpriced, has poor floorplans and is in an unpleasant location, but obviously enough buyers disagree with me.
Now, off to whip up a nice Béchamel sauce to drizzle over the hateful words…
Many of these units were sold in the $500 per sq/ft range. Well off the $700+ per sq/ft still being asked on 4th ave.