Prewar Condominiums in Greenwich Village are some of the most desirable types of apartments in all of Manhattan. One of the main reasons is that because there are so few of them and they are obviously not making any more of them. The only way more prewar condominiums come to the market is if a prewar rental building gets converted to condominium, like what happened at the Devonshire House at 28 East 10th Street.
A number of reasons but most of our buyers who end up buying a prewar condominium in Greenwich Village are looking for certain apartment features that almost are only found in a prewar apartments.
Some of these prewar features include:
- Working fireplaces
- Ceiling Height-Typically 9′ feet or more, 10’+ in loft buildings
- Detailed Woodwork including crown molding, base molding, picture rails, window wells, fireplace molding
- Certain Layouts-Typically a more grand and spacious layout including entrance foyers, separate kitchens, larger bedrooms, dining rooms, etc
- Thicker Walls and Floors-A lot harder to hear your neighbors
- Building History-Some buildings come with a land marked status and/or prestige due to the developer or architect who was a part of the project, often with the prestige brings with certain design elements that are also very much desired.
Is a Prewar Condo more expensive than a postwar condominium?
I would say that with very little exception the answer is Yes. In Greenwich Village, the percentage of condominiums to co-op buildings is very much weighted overwhelmingly towards more co-ops than condos. Then when you look at the number of those condominiums that are prewar buildings the total number decreases even more. So let’s say you want to be even more specific and you want a prewar condominium in Greenwich Village that’s on lower Fifth Avenue, now you have a single building, 25 Fifth Avenue that matches your criteria. Another popular search is for Emery Roth, a very famous prewar architect who designed both 59 West 12th Street and The Devonshire House at 28 East 10th Street. Those two buildings consistently have some of the very most expensive prewar condominiums for sale in Greenwich Village and for good reason.
Basically it comes down to supply and demand. The demand far outweighs the supply for quality prewar condominiums in Greenwich Village so the pricing is a reflection of this unique segment of the market.
What is the pricing for a prewar Condominium in Greenwich Village?
- A Studio typically starts in the $850,000 range, but if it is a studio in a prewar loft like 114 East 13th Street or 125 East 12th Street the pricing starts at $1,150,000
- A One Bedroom typically ranges in the $1,500,000 to $2,000,000
- A Two bedroom typically starts at $1,600,000 for a smaller two bed/one bathroom upward of $4,000,000 for larger units
- A Three Bedroom usually starts in the $3,000,00o but can exceed easily exceed $5,000,000 depending on unique features and apartment size
Are you interested in buying a prewar condominium in Greenwich Village or interested in a free market analysis on selling your apartment, call us today at (917) 837-8869 or email Morgan(dot)Evans)(at)Elliman.com
We pride ourselves on our expertise in the downtown Condominium market specifically Greenwich Village prewar condominiums, if you are interested in this segment of the market reach out to us today to discuss your individual needs. We can be reached at (917) 837-8869.
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