Oh, 11 Spring Street, we cannot escape you. Our beloved Nolita icehouse—remade from a onetime single-family residence that caught the eye of Lachlan Murdoch into separate-floor condo units seemingly configurable at will—shacked up with the Core Group for marketing purposes back in November, when the powers that be tested the waters with a series of 10%-ish PriceChops. But as spring dawns and all units sit unsold, they're getting the scalpel back out. Er, make that the hatchet.
Now, keeping track of what's what at 11 Spring can be tricky—there are only three real units, but they can be listed in dozens of interesting ways!
First up, there's the triplex penthouse, which originally hit the market for $17.5 million, got trimmed to $16.155 million, and now just got cut 19% to $13.1 million. With the three floors offering 4,637 square feet, though, that's still an eye-bulging $2,825 per square foot. But oh, those sweet Nolita views!
Down below, there's the Carriage House, originally $15.15 million, then $13.6 million, is now a spicy $10.9 million. Given we're on the ground floor here, the price per square foot (from a 4,205 sqft layout) is a bit more plausible at just under $2,600/per.
And then, today, we have the surprise appearance of our old friend, the "loft" unit. Core yanked the single-floor property from the market back in November, figuring that buyers of either the Carriage House or Penthouse might want to add in the extra floor. But now, it's the bargain hunter's best chance of moving in at 11 Spring. Priced at a gaudy $6.7 million back in summer 2007, it's now asking $4.95 million.
One thing that hasn't changed: the all-in price for the whole shebang, which still can be yours for $36.5 million, give or take a few nickels.
· Listings: 11 Spring Street [Core Group]
· All 11 Spring Street Coverage [Curbed]