The Chelsea Mercantile helped create luxury loft mania in Chelsea when the building was converted to residential in 2000, the Manhattan Loft Guy argues, which is why he's sounding the alarm that a U-line unit just sold far below what another U-liner sold for last year: "The #9U clearing price of $1.875mm is 25% off the (delayed?) price of #11U from February 2008, not to mention barely $1,125/ft. How the mighty have fallen..." MLG also takes his "buildings that may be 25% off" theme to Hudson Square's 505 Greenwich Street. [Manhattan Loft Guy]
Filed under:
Loading comments...