As plugged-in people know, the litigation that has been hanging over the Oriental Warehouse (650 Delancey) has recently been settled paving the way for a plurality of new listings, the latest of which is number 111 listed for $1,095,000.
Purchased for $995,000 in June 2005, the sale won’t be apples-to-apples as the 1,554 square foot two-bedroom loft has since undergone a “stunning remodel” which included “only the very finest of finishes” in the kitchen (Wolf stove and Advantium oven) and baths (slate, Toto toilets, and “low voltage warm floors w/ their own thermostat[s]”).
Said kitchen before:
It will be interesting to see what effect this has on #213, which has been on & off the market since Sept. 2008. #111 is asking $705/sf, #213 is at $856.
Truly interesting to note how much prices have inflated.
From Redfin price history
Property History for 650 Delancey St #111
Date Event Price Appreciation Source
Dec 03, 2010 Listed $1,095,000
Jun 03, 2005 Sold (Public Records) $995,000
Apr 15, 1997 Sold (Public Records) $392,000
Clearly we had some retreat but not enough in my opinion. Can imagine more than 500K at best.
I would buy at $500k.
Robert – Are you the same Robert who used to post items like this ?
If so, welcome back !
Does the kitchen really count as remodeled?
Kitchen is ugly!
Barely remodeled.
The sale of 650 Delancey #111 closed escrow today with a reported contract price of $1,032,500 ($664 per square foot).
Once again, purchased for $995,000 in June 2005 but them remodeled with high-end finishes in the kitchen (Wolf stove and Advantium oven) and baths (slate, Toto toilets, and low voltage warm floors with their own thermostats).