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New York property heads south

Blog | By James Fletcher | Jun 23, 2020


A couple of weeks ago, I posted a photo of this house on Thompson Street, Soho that was listed for a highly optimistic figure of $15m… for little over 3,000sq ft. That was before intense looting of the district and the less than ideal daubing of ‘NYPD kills’ appeared on both its walls. It could be indicative of a few things - the vendor has probably joined many of the New Yorkers that have fled the city, hence this value-zapping graffiti is still in place more than 2 weeks since it arrived. Or the vendor is deeply pessimistic given that the zone’s shopfronts are now clapped with chipboard and are about as uninviting to an eight figure buyer as imaginable. And most likely, the housing market has ground to a standstill where not even basic appearances are worth salvaging. It seems the vendor is waiting till the area re-opens and life returns to some level of normality.