Today we begin a new weekly feature: LES Market Watch. We'll take a look at what's new in both the residential and commercial real estate markets, what's selling, whether prices are headed up or down, etc.
AVERAGE LES HOME PRICE (Trulia; based on 2 sales in the past week): 896,362
NUMBER OF LES HOMES FOR SALE (Street Easy): 145
NUMBER OF LES HOMES FOR RENT (Street Easy): 210
LEAST EXPENSIVE LES APARTMENT: $170,000
157 Broome Street, #3E, Price reduced $10,000 (3/27). Studio, 311 square feet. Broker: Matthew Pope, Real Estate.com. From the listing: "HDFC building. You must meet income requirements, 1 person can earn up to $59,520."
MOST EXPENSIVE APARTMENT: $5,995,000
660sf terrace overlooking a protected park area. This floor also
features a full bath, wide-plank flooring and ceilings nearly 11.5'
high. Downstairs you will find a huge master bedroom suite with another
WBFP. The master bath features 2 sink areas, large Jacuzzi tub,
separate shower and private WC."
MOST INTRIGUING COMMERCIAL LISTING: Blue Moon Hotel, $35 million
The Blue Moon Hotel, 100 Orchard Street is still/back (?) on the market. Before it even opened in 2006, Curbed reported the hotel, in a spiffed up tenement building, was for sale (back then for $20 million). Broker: Kevin Vales, Halstead. From the listing:
A 26ft wide 8-story elevator hotel building that
has been renovated. The building has 22 suites with all the original
details in place. The property is fully sprinkler with a state of the
art fire alarm system. The property lies in the heart of the Lower East
Side, it is located near the tenement museum and is on Orchard Street,
which is the retail capital of the area. This is a prime opportunity
for a hotel user they can also use it for selling time-shares, or turn
it into a condo hotel. The property would also make a great bed and
breakfast opportunity.
This is very useful. Even better would be to distinguish between coops and condos. Is this data just for the Lower East Side? More details, please.
And keep up the good work!
Fair enough. We’ll break out co-op and condo numbers in the future. I’ve clarified within the post that these are LES numbers only. We’ll have a real estate post of some kind every day, so keep reading for more details! Thanks for the comment.