It's time for another Curbed House Call, in which we take a look at a notable but maybe not-so-new building and take its market temperature.
The cabanas, the crazy pool, the private club?the Jean Nouvel-designed 40 Mercer will always be one of Soho's main attractions. Did you know that André Balazs developed 40 Mercer as a hotel, but switched to condos once hotel financing dried up after 9/11? Weird to think of the place as an inn, but that's a tale for another time. Folks, there is serious drama going on at the titan of tinted glass. Sure, cabanas are still trading for $135,000, but at least one apartment in the 13-story, 40-unit building recently sold at a loss! Blasphemy! There are currently five units on the resale market, and we want to take a closer look at four of them. To the House Call!
Price: $7.995 million
Stats: 2BR, 2.5BA, 2206sf
The Skinny: Think the $3,600/sf asking price is a little outrageous? This is the same apartment that was asking $10.85 million in January. Numerous chops have followed, including the dip down to the current price back in September. Why do we include the floorplan? To compare it with what's going on below.
Price: $7.99 million
Stats: 3BR, 3.5BA, 2,706sf
The Skinny: Note the similar yet slightly lower asking price when compared with the unit above. But this apartment, according to the given stats, is 500 square feet bigger. Maybe the blue boxes are more valuable than the reddish ones?
Price: $2.75 million
Stats: 1BR, 1.5BA
The Skinny: Is that a TV/stripper pole hybrid? Brillz.
Price: $2.195 million
Stats: 1BR + HO, 1.5BA, 1,222sf
The Skinny: We didn't think it was possible, but someone has succeeded in taking dark, dull and disappointing photos of 40 Mercer interiors. According to StreetEasy this unit sold for $2.35 million in 2007, so we have another loser on our hands. As Jean Nouvel would say, sacre bleu!
· 40 Mercer coverage [Curbed]
· 40 Mercer [Official Site]