7 Wooster 3B sold October 2005 for $1.545 million, 7 Wooster 5B sold (by me) December 2008 for $2.075 million.

http://www.streeteasy.com/nyc/building/7-wooster-street-new_york

this is a new condo with abated taxes (421-a) so prices of the units, if anything, should have been flattening as the tax burden rose.

ali r.
{downtown broker}

ali,

first, congratulations on the sale. i am sure there are a lot of nervous brokers out there feeling pretty jealous of a great sale like that right about now.

since you say that it 'should have been' flattening as the tax burden rose, what do you think explains the fact that it didn't?

With all due respect, you got lucky.

She didn't get lucky - there was a lot of work and strategy involved as described in one of her posts.
However, I could not find said post just now - maybe it was deleted because it contained too much info?

Maybe the strategy was to convince the buyer that the market was going to get better and pay more.let's see in 6 months how much the value drops

like I implied - you had to read the thread but I guess you can't now.

I think I'm good, but I don't think I'm magic. One factor was that "South SoHo" -- that bit near Canal -- has been gentrifying, which you can't say about every part of the city. The presence of One York really took the area up, as will SoHo Mews when it eventually opens.

Another factor was that time and price are inverse, and we did play our hand slowly, as described on that old thread, to get a top-dollar deal.

But the overall point I'd make is that one comp is just one comp; it's not an entire market. I don't think anyone thinks that prices in SoHo are going up 10% a year -- despite what this data point says. When you see the other "prices are going down, post comps here" threads -- remember that it's tough to describe an entire market from one or two examples.

ali r.
{downtown broker}