Union Square is deep in the East Village in a somewhat rough area.
This unit is one of the very nice loft units. Other very similar loft units sold for over $600,000 at the height of the boom. This unit sold in late 2004 for $565,000 and has since gone into foreclosure.
Foreclosure.com indicates the unit is now owned by Morgan Stanley which is a very large financial services firm.
Resale Price: $499,900
Loss@6% Sales Expenses: $95,094
Purchase Date: 12/10/2004
Holding Period: 22 months and counting...
Square Feet: 1250
Purchase Details: view