NOT LISTED FOR SALE

88 Franklin St Unit 3 New York, NY 10013

Tribeca Neighborhood

Estimated Value: $5,952,000 - $7,133,000

4 Beds
3.5 Baths
4,001 Sq Ft
$1,374/mo HOA Fee

Last Sold March 20, 2020

Last sale price $7,495,000 $1,873 Per Sq Ft

Est. 13% decrease in value since last sale

Current estimated payment $39,893/month

256 Days on Market

Highlights

  • Pre War Building
  • 2-minute walk to Franklin Street
  • Laundry Facilities
  • P.S. 397 Spruce Street School Rated A
  • New Windows
  • 3-minute walk to Tribeca Park

About This Home

As of March 2020

Perfectly designed and wonderfully functional, this 4 - Bedroom, 3.5-Bath CONDO home is a unique opportunity to own a fully renovated TriBeCa loft complete with all the character of an old architectural jewel. Located on beautiful and desired Franklin Street in a former textile factory, this 4000SF loft combines the conveniences of modern living with the charm of the original structure and has been featured in a New York Times article (How to Land a Loft) and on HGTV (You live in what?). Original wooden beams, dramatic columns, 12-foot ceilings, wide hickory floor planks, and exposed brick walls all contribute to creating a stunning space which is as ideal for entertaining as it is a cozy and relaxing retreat from the hectic life of Manhattan. Unique fixtures and interior hardware from architectural salvagers are seamlessly integrated with beautiful modern lighting, ideally positioned to showcase the many beautiful features of the space. Six extremely large custom-made windows frame the South-facing, 50-foot-wide side of the loft bringing warm natural light into an expansive living area, ideally designed to display art and entertain guests. The open kitchen area reproduces the atmosphere of a typical TriBeCa restaurant and bar with open shelves, a custom-built blackened steel hood and back-splash, cabinets made of Limba wood and blackened steel, countertops and a large kitchen island made from 3-inch thick marble slabs that were reclaimed from the historic Independence Mall in Philadelphia. Those who need a space to relax, read, or watch a movie will love the brilliantly designed cozy den, with its unique industrial windows, wall of reclaimed barn wood, and Porcelanosa tiles. The four bedrooms are ideally located on the North-facing side of the loft, where blissful serenity will welcome you at the end of a long day. Each bedroom has been masterfully designed and decorated to create the feeling of a chic industrial space. Each of the four bathrooms is a unique architectural creation which combines eclectic design elements and infuses the space with soul and beauty. Additional highlights include a fully integrated Control4 system, keyed elevator that offers direct access to the loft, a unique custom-made 100-bottle wine cellar, and top of the line appliances. The combined common charges and taxes are unusually low, a rarity in Manhattan's luxury real estate. Perfectly located to enjoy the beauty and excitement of one of the most desirable places to live in Manhattan, this loft is also extremely close to most major subway lines and the finest eateries and retail shopping in town.

Co-Listed By

Simona Stanica

Compass License #30ST1004047

Compass

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $35,052

Year Built

  • Built in 1915

Lot Details

  • 5,009

HOA Fees

  • $1,374 Monthly HOA Fees

Home Design

  • Pre War Building
  • Entry on the 3rd floor

Interior Spaces

  • 4,001 Sq Ft Home
  • New Windows

Bedrooms and Bathrooms

  • 4 Bedrooms

Laundry

  • Dryer
  • Washer

Utilities

  • No Cooling

Listing and Financial Details

  • Tax Block 175

Community Details

Overview

  • 5 Units
  • Tribeca Subdivision
  • 7-Story Property

Amenities

  • Laundry Facilities

Property Details

Home Type

Condominium

Est. Annual Taxes

$35,052

Year Built

Built in 1915

Lot Details

0

HOA Fees

$1,374 per month

Listing Details

  • Cross Street: Bet. Broadway/Church St
  • Exposures: East,North,South
  • Property SubType: Apartment
  • Property Type: Residential
  • Neighborhood: TRIBECA
  • Architectural Style: Prewar
  • Entry Level: 3
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 7

Interior Features

  • Appliances: Dryer, Washer
  • Living Area: 4001.0
  • Living Area Units: Square Feet
  • Rooms (Total): 7
  • Accessibility Features: Wheelchair Access
  • Window Features: New Windows

Beds/Baths

  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Bathrooms Integer: 4
  • Bedrooms: 4

Garage/Parking

  • Garage: No

Utilities

  • Laundry Features: Building Washer Dryer Install Allowed, Common Area
  • Cooling: No

Condo/Co-op/Association

  • Common Charge/Maintenance Fee: 1374.0
  • Common Charge/Maintenance Fee Frequency: Monthly
  • Common Interest: Condominium
  • ResoAssociationFeeFrequency: Monthly

Building Info

  • New Construction: No
  • Units: 5
  • Total Stories: 7
  • Year Built: 1915

Tax Info

  • Tax Block: 175
  • Tax Annual: 35052.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 2, 2019
Closed on
Mar 13, 2020
Sold by
Desantis Giorgio
Bought by
Elizabeth Marie Ferreira Trustee
List Price
$7,995,000
Sold Price
$7,495,000
Premium/Discount to List
-$500,000
-6.25%
Current Estimated Value
$6,498,415

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$996,585
Avg. Annual Appreciation
-2.54%

Purchase Details

Listed on
Jun 7, 2015
Closed on
Apr 29, 2016
Sold by
Tiesi Douglas
Bought by
Desantis Giorgio
Seller's Agent
Raphael DeNiro
Douglas Elliman Real Estate
List Price
$8,200,000
Sold Price
$6,925,000
Premium/Discount to List
-$1,275,000
-15.55%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.05%

Purchase Details

Closed on
Dec 21, 2012
Sold by
88 Franklin Street Group Llc
Bought by
Tiesi Douglas

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$550,000
Interest Rate
3.35%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Elizabeth Marie Ferreira Trustee $6,700,000 --
Elizabeth Marie Ferreira Trustee $6,700,000 --
Desantis Giorgio $6,925,000 --
Desantis Giorgio $6,925,000 --
Tiesi Douglas $3,576,197 --
Tiesi Douglas $3,576,197 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Tiesi Douglas $550,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/20/2020 03/20/20 Sold $7,495,000 -6.3% $1,873 / Sq Ft
01/15/2020 01/15/20 Pending -- -- --
05/03/2019 05/03/19 For Sale $7,995,000 +15.5% $1,998 / Sq Ft
04/29/2016 04/29/16 Sold $6,925,000 -15.5% $1,731 / Sq Ft
03/30/2016 03/30/16 Pending -- -- --
09/25/2015 09/25/15 For Sale $8,200,000 -- $2,049 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $48,791 $421,485 $22,441 $399,044
2024 $48,791 $390,264 $65,693 $368,731
2023 $44,328 $361,357 $23,925 $337,432
2022 $44,212 $1,074,802 $65,693 $1,009,109
2021 $42,954 $859,808 $65,693 $794,115
2020 $40,096 $834,790 $65,693 $769,097
2019 $30,938 $695,694 $65,693 $630,001
2018 $35,355 $277,967 $31,497 $246,470
2017 $35,355 $277,967 $35,717 $242,250
2016 $34,725 $269,352 $37,979 $231,373
2015 -- $249,400 $35,371 $214,029
2014 -- $230,926 $26,753 $204,173
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10602444

Real Estate Board of New York (REBNY)

APN: 0175-1403