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Tribeca Loft Nets Too Good To Be True $511/Square Foot

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This fifth-floor loft at Tribeca's 70 Thomas Street took a few pricing attempts to sell: it first came onto the market almost a year ago, asking $1.399 million, then tried $1.25 million, then $1.2 million. It sold, in a deal closed today, for cheap, aka $1.15 million, according to Manhattan Loft Guy. That's somewhere around $511/square foot, depending on which of several square footage measurements you use. Manhattan Loft Guy attributes the deal to efficiently-written listing prose that revolves around the word "unspoiled," but seriously. Take a look at the floorplan and a few listing photos conveniently cached on Trulia and tell us: what's wrong with this loft?
· "Unspoiled" loft at 70 Thomas St Sells for $511/ft [Manhattan Loft Guy]
· 70 Thomas Street #5FL [Trulia]