Introducing Brick Underground’s luxury pick of the week, a new feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,825,000, the current entry threshold for luxury apartments in Manhattan. If you’re in the market for a high-end abode, you should know that while sales have slowed considerably over the past couple of years, that trend is starting to reverse as sellers come to grips with the new market reality and adjust their prices accordingly. It's good news for your pocketbook—just be aware that many luxe listings won’t linger on the market indefinitely. For more information, check out Brick Underground’s tips on buying a luxury apartment in NYC.
For this inaugural post, Brick is looking at a loft with grand proportions, 38 West 26th St., #2, in Nomad. This co-op has five bedrooms and three baths with a massive amount of room—5,000 square feet. All that space will cost you $4,800,000 with a monthly maintenance of $5,323. (For more information on buying this type of property, check out Brick Underground's "Everything you wanted to know about buying a loft.")
For just under $5 million you get the full second floor in a 1909 building with lots of great details like 14-foot ceilings, 10 original columns and walls lined with bookcases—the effect is sort of like a library and ballroom got together and had a massive baby.
There are other impressive numbers here—like 55+ linear feet of north- and south-facing walls of windows on each end of the apartment.
The loft is so big that it has a rental: It's currently configured as a 4,000-square-foot, three bedroom, two bath, and a 1,000-square-foot two bedroom, one bath—and the tenant is in place until June.
There is also an individual storage space in the basement. The building has 19 units and 12 floors. There's an on-site super and a video intercom system.
The building is off Madison Square Park—and nearby are popular eating destinations like Eataly, Eleven Madison Park and Gramercy Tavern. The R and W subway lines are nearby on Broadway.
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