Soho's 160 Wooster is a building we've been keeping a relatively close eye on, probably because it can be seen as a test case for what kind of crazy antics the market will let you pull in the nabe south of Houston. For example, can you sell a penthouse at a 78% price increase less than one year after purchasing it? (The answer: not yet, anyway.) But perhaps that's too bold an experiment. Let's look toward unit 6A, a more modest but very lovely three-bed-plus-office, or four-bedroom as they call it in this Sotheby's listing, that?according to ACRIS?sold for $3.7 million almost exactly one year ago. Now the flipper wants $6.2 million for it, an increase of only 68%. People?those bar stools ain't paying for themselves!
· Listing: 160 Wooster [Sotheby's]
· On the Market: Flip Crazy Atop 160 Wooster [Curbed]
[160 Wooster building photo courtesy of Property Shark, shmobvs.]