What's a good price per sq. ft. in FiDi, in Manhattan?

Jeffrey Wu
Both Buyer and Seller
New York, NY

I've been looking at investment properties in FiDi and perhaps around $800/sq. ft. is a good deal??? This market certainly favors the well prepared (and by that I mean, cash heavy) and I think I am one such investor.

Answers (2)
Jenet Levy
Agent
New York, NY

Hi, Jeffrey. That depends which building. It varies greatly. I know of one where they are desperate to sell out and though they are not able to advertise these rates, units can be negotiated to the low $600Ks per square foot. There are others that are not negotiating to this degree. Some developments there have had some serious setbacks and are more willing to wheel and deal than others. Then there are re-sales. Depending upon how badly the seller needs to sell, they are taking various degrees of loss including short sales. Even if you are "cash-heavy" as you say, your time frame is important too. If the building is not over 70% sold by the time you are ready to sell, you may have trouble finding a buyer. If you'd like the "inside scoop" on buildings there, I'd be happy to answer any questions. Feel free to click on my contact info and drop me a line or give me a call. I track what is happening in the Financial District very closely.

Fri May 8 2009, 20:08
Carol Friedman
Agent
New York, NY
FIRST ANSWER

jeffrey, I am getting prices from 600 to 1000 per sq foot. It depends when the bldg was built, what the bldg has to offer , is it a tax abated bldg? and many other factors to be able to give you a good answer . Also hard to get financing if a building is not 70% sold, I would need more specifics to give you a " good buy and price per sq foot". Good Luck Carol Friedman Nest Seekers International

Fri Mar 27 2009, 06:59

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