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$458/Square Foot Chelsea Loft, Now Renovated, Tries Again

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The 2009 sale of 144 West 27th Street #5R for $1.65 million, 51 percent of its initial asking price, had blogging broker Sandy Mattingly quoting Shakespeare: "You speak of one that loved not wisely but too well," referring to the original owners, who bought the apartment in the '80s, renovated it to their tastes, and, 25 years later, tragically discovered that those tastes were not even the slightest bit aligned with what they assumed the apartment was worth. The new owners, unlike the old ones (and Othello), may or may not have loved the 3,200-square-foot loft too well, but they have definitely loved it wisely. After purchasing it for $458 per square foot—$458 per square foot—they embarked on the renovation that the pad (must have) so desperately needed, opening up the central living/dining room, restoring the wood floors, putting in new windows, and, from the looks of things, updating just about everything. Now, just to really twist the knife, they've re-listed the place for exactly the price it sought with its original 2008 listing: $3,250,000.

· Listing: 144 West 27th Street #5R [144w27]
· loving a loft not wisely but too well [MLG]