December 6, 2010
The Post-Litigation Oriental Warehouse Listing Parade Continues On
As plugged-in people know, the litigation that has been hanging over the Oriental Warehouse (650 Delancey) has recently been settled paving the way for a plurality of new listings, the latest of which is number 111 listed for $1,095,000.
Purchased for $995,000 in June 2005, the sale won’t be apples-to-apples as the 1,554 square foot two-bedroom loft has since undergone a "stunning remodel" which included "only the very finest of finishes" in the kitchen (Wolf stove and Advantium oven) and baths (slate, Toto toilets, and "low voltage warm floors w/ their own thermostat[s]").
Said kitchen before:
∙ Listing: 650 Delancey Street #111 (2/2) 1,554 sqft - $1.095,000 [MLS]
∙ The Clouds Have Almost Cleared From Over The Oriental Warehouse [SocketSite]
∙ The Oriental Warehouse (650 Delancey) [SocketSite]
First Published: December 6, 2010 6:45 AM
Comments from "Plugged In" Readers
It will be interesting to see what effect this has on #213, which has been on & off the market since Sept. 2008. #111 is asking $705/sf, #213 is at $856.
Posted by: Dan Clark at December 6, 2010 4:44 PM
Truly interesting to note how much prices have inflated.
From Redfin price history
Property History for 650 Delancey St #111
Date Event Price Appreciation Source
Dec 03, 2010 Listed $1,095,000
Jun 03, 2005 Sold (Public Records) $995,000
Apr 15, 1997 Sold (Public Records) $392,000
Clearly we had some retreat but not enough in my opinion. Can imagine more than 500K at best.
Posted by: Thomas Crane at December 7, 2010 1:19 PM
I would buy at $500k.
Posted by: Robert at December 7, 2010 4:02 PM
Robert - Are you the same Robert who used to post items like this ?
If so, welcome back !
Posted by: The Milkshake of Despair at December 7, 2010 4:46 PM
Does the kitchen really count as remodeled?
Posted by: John at December 7, 2010 11:22 PM
Kitchen is ugly!
Posted by: G at December 24, 2010 8:15 PM
The sale of 650 Delancey #111 closed escrow today with a reported contract price of $1,032,500 ($664 per square foot).
Once again, purchased for $995,000 in June 2005 but them remodeled with high-end finishes in the kitchen (Wolf stove and Advantium oven) and baths (slate, Toto toilets, and low voltage warm floors with their own thermostats).
Posted by: SocketSite at January 14, 2011 4:57 PM