Tribune loft sale prices?

[bokworker]

The Philtower will not be selling units for at least another 3 years. One of the covenants to getting the historical grant money was that the developer had to own the units for 5 years. I am not sure if that is 5 years from starting or completion but we were among the first to move into the Philtower with a start date to our original lease of 4/01/06. If you do a little imputing of the rental rate to get an idea of the "value" that the owner sees in the apartments then you get a number of well over $200/ft for these apartments. I suspect he feels the number will be even higher in a couple more years. The apartments are really nice and do have some great views...

[TheArtist]

quote:Originally posted by cannon_fodder

For the love of god people, you're all on the Internet!  No need to speculate about the prices of NY realestate, just go look it up.

http://www.trulia.com/NY/New_York/

After a quick look, I can say with confidence that you are extremely unlikely to find anything for $400 sq/ft in NYC.  The AVERAGE price in the city is $1,347 per Sq. Foot in the last QT of 2007 (read: after drop).  If you want to get off the beaten path you can get a 1bd 1 bath in E. Harlem for a lowly $665 a foot.   Or if you want to spend $6000 per foot, we can take care of that easily enough too.  

Artist, the hell with Utica - I'm buying you one of these:
http://www.trulia.com/property/1050931575-23-E-22nd-St-PHA-New-York-NY
(pending financing)

Niiiice. 45mill condo, monthly fees and taxes 25thou.  Get me that and I would allow you to be my friend. [8D]

[cannon_fodder]

My banker is supposed to get back to me on the financing.  I'll let you know.