540 Delancey #403 Media
As we wrote about the Cape Horn Lofts building at 540 Delancey last year:

It was sixteen condos before units #402 and #403 were combined to form a 2,900 square foot unit with over 1,000 square feet of outdoor space. In contract (and so noted) at the time we profiled #401, 540 Delancey #402/3 sold for $3,100,000 in October 2008.

As we added this past June:

Listed for $3,295,000 at the end of 2009, and then for $2,995,000 last June, the Cape Horn penthouse unit known as #402/403 is back on the market and asking $2,899,000.

And as a plugged-in tipster notes today, the sale of 540 Delancey #402/403 closed escrow yesterday with a reported contract price of $3,000,000, an official $101,000 (3.5 percent) over asking but $100,000 (3.2 percent) below October 2008.
540 Delancey #402/403 Comes Back Around (At) The Cape Horn [SocketSite]
Cape Horn Lofts (540 Delancey) In General, And #401 In Specific [SocketSite]
Back Around The Cape (Horn Lofts Penthouse) [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by CSInvestor

    What’s the back story here? Why did someone pay over asking for this property after it languished for so long? Dumb Zynga, Twitter, et al. money creating a bidding war? Someone discover some unforeseen value?

  2. Posted by SouthBeacher

    From the WSJ “StumbleUpon CEO Garrett Camp bought a 2,900-square-foot loft penthouse with four bathrooms and a patio for $3 million this past summer in the South of Market area.” Maybe it’s this property?
    http://online.wsj.com/article/SB10001424052970204781804577271491070580960.html

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