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Renovation Supersizes Value of Central Village Loft

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After being billed in its listing as "painstakingly renovated and transformed into a one-of-a-kind piece of art," the entire third floor of the Penguin House co-op at 55 East 11th Street just sold for $2.8 million (it was asking $3 million). As Manhattan Loft Guy broker-blogger Sandy Mattingly notes, that's 44% higher than the $1.95 million the same 2,325-square-foot pad sold for in 2007, when it was pitched to buyers as "an excellent opportunity to create their own space." So either the Central Village market has perked up, or that's one heck of a renovation. Thankfully that 2007 listing is still hanging around, allowing us to compare the 3BR, 2.5BA loft to its former self. In the living room, the A/C is gone from the window and that tree is looking healthier. The sellers must be special people, because even Mother Nature lent a hand! Floorplan on the jump.


· psst! wanna see a million dollar renovation? 55 East 11 Street just closed [MLG]
· 55 East 11th Street #3 [StreetEasy]