Like many an old New York City building with dreams of offering higher-priced apartments, 56 Walker Street struggled during the recession. The 1866 loft building got spruced up prior to hitting the market in 2008, when its apartments were listed for between $2.2 million and $2.999 million. Those listings were, alas, pulled, and in early 2012 the whole building went up for sale asking $11.878 million. There were a few lis pendens filings on record and the property had never received its certificate of occupancy. But perhaps the troubles have been cleared up—the building is on the market again at a much higher price of—brace—$22.5 million.
The listing explains that the building now consists of a commercial unit, a live/work unit that can also be used as commercial space, and four residential units. "Sale will result in separate ownership of each floor and associated mezzanine space with the potential for up to seven condominiums (potential addition of one residential unit)." Is this work-in-progress work nearly twice as much as its ask last year?
· Listing: 56 Walker Street [Sotheby's via StreetEasy]
· Tribeca Loft Building Hits Market With Hints of Money Troubles [Curbed]