Category — Soho Co-ops and Co-op Apartments
Doug Valenti and Terri Valenti just bought a Soho loft co-op at 12 Wooster Street for $2.15 million using a living trust.
The Valenti’s make their home in Silicon Valley. Doug Valenti is the Chairman and CEO of QuinStreet, a performance marketing and media company.
The 3 bedroom, 2 bathroom apartment is located on the fringe of southern Soho between Canal and Grand Streets.
The stylish loft kitchen has the standard luxury tools: a Sub-Zero fridge, silent Miele dishwasher, along with a Viking stove and oven.
It appears that a portion of a rainforest was destroyed to make the loft’s custom storage cabinets: they listing described them as being “harvested from South American woods”
Sotheby’s brokers Camille McKinley and Mark Thomas Amadei had the exclusive for the sellers.
Neighbors in the building include:
- Photographer James Dee and wife Saralah Dee
- Wesley Wang a founding Managing Director of Phoenix Partners Group, a derivatives brokerage firm.
March 25, 2010 2 Comments
Ad agency photographer Ira Lerner just sold his Soho penthouse loft at 55 Greene Street for $2.95 million.
The buyer is Stanislaus Nicholas Poniatowski
Multiple reductions in price occurred after the loft first hit the market in April 2009 for an asking price of $3,995,000. A 25% price drop on a $4 million loft is incredible, but also not surprising in today’s market.
Prudential Elliman broker Patty LaRocco had the exclusive.
The co-op apartment is located in the historic Gunther Building at 55 Greene Street.
The 2,600 sq. ft. 5-room loft has a corner view overlooking Greene and Broome Streets. Here you can see the loft’s 2 skylights in the northeast corner of 55 Greene Street’s 6,000 sq. ft. spectacular common roof deck for shareholders:
The cavernous space has 17-foot high ceilings, living room and common area that is wonderful for entertaining, and located in a top-notch building.
The huge space receives light from the north, east, and partially from the west.
Here is a look at prices, current and former shareholders at 55 Greene Street:
- Lenny Kravitz and ex-wife Lisa Bonet formerly lived in the building when they bought in 1989
- Daniel Wheeler of Dimension Fund Advisors paid $2.5 million for a 4th floor loft in 2007
- Architects Beyhan Karahan and Jon Michael Schwarting bought a loft in the building in 1994. Karahan’s firm did architectural restoration of the building’s facade.
Floor plan and interior credits: Prudential Elliman
January 20, 2010 1 Comment
A 1,400 square foot co-op in a Soho loft at 16 Greene Street just sold for $1,415,000, just $20k more than what seller Fiona Carter paid for it in May 2005.
The most recent sales price plunged $140,000 from its original $1.55 million listing back in January 2008.
The seller was Fiona Carter (inset, left) of the Omnicon Group, and the buyer was David M. Nash, according to public records.
Corcoran broker Kathleen Manikowski had the exclusive.
This gorgeous railroad style loft is located at the southern end of Soho near Canal Street. The apartment is on the West side of Greene Street, and heads back towards Wooster.
Although it was listed as a 1-bedroom cooperative, there is also a nursery next to the kitchen that could be used as a second bedroom or home office (inset, below).
The co-op’s financials must be pretty solid: the building was marketed as having no mortgage on the building. Ordinarily that presents a disadvantage since it would mean buyers wouldn’t be able to deduct any percentage of their monthly maintenance charges from their income taxes.
Remember, since co-op shareholders own shares in a corporation — not real property like in a condo — they are usually able to deduct the percentage of their maintenance used to pay down the co-op’s underlying mortgage on the building. The deduction is allocated on a per-share basis.
At 16 Greene Street, however, the lack of a mortgage means that maintenance charges are way below market. Maintenance for this unit was listed at just $795 per month.
The keyed elevator is located just inside the building’s doorway, and opens directly into the living area.
September 17, 2008 No Comments