Roadmap to a Steal

in the Spring of 2024, We represented our client in the purchase of a gorgeous trophy apartment at an astronomical 25% off. Here is the Journey from start to finish.

I have known my clients for over 15 years, having been my neighbors when I first moved into my first condo in the Lincoln Center area after my 1st successful year in real estate.

I took them out to look at newer, larger apartments not long after we met, but they ended up moving to Connecticut and keeping their condo as a part time city home.  17 years worth of phone calls, Christmas cards and 3 kids later, I finally got THE CALL.

" Rick my friend, lets transact. I want to sell our A line and buy something new. I want to see this apartment on Bond Street. Do you have time this week?

My client had gone from obscure trader to the managing director of a bank in the time that I'd known him and was looking for something sexier, younger and with taller ceilings than what they had now. And the one thing he really hated about his Lincoln Center Home was the PTAC's. they had to go and he had to go too. He just couldn't stand them anymore. 

While we started on Uber cool Bond street, our travels would take us from West End to East End to multiple  Billionaire's Row addresses to Flatiron and Nomad, back to Amsterdam Avenue and eventually The Highline and West Chelsea. A Partial list of our showings is below

During our travels we made offers on no less than 5 properties, 2 of which that were accepted and one contract that we backed out of after realizing we were right back in the SAME BUILDING that he was supposedly leaving! Our budget ranged from $6 million to $9 million and then eventually up to $15 million then back down to $10 million after all the dust settled.

I Like One57, and maybe that skinny one too - 111 West 57th "

11A for sale at the Grand Millennium - a 1,900 sf 3 bed 3 bath with partial Lincoln Center views and southern exposure. We negotiated a near asking cash offer despite being off market and in need of a gut renovation.

Here’s how we did it…

The listing was asking $3,495,000 and After a deal at $3,200,000 fell apart in November, the owner asked us to pull the apartment from the market 😞 and to get GC bids to renovate, with the idea of doing work and then coming back on at a later date 

Knowing that this would take time and that the market had started to pick up steam in the fall, we raised the price of the apartment $150,000 to $3,650,000 - a full $450,000 increase over our last accepted offer - with the idea that we could still promote the property off market while we were reviewing GC bids.

We also specifically said in the off-market copy that the seller would still sell at full ask and invited brokers to bring buyers and bids. 

  .

Our Marketing exposed the property to over 9,000 buyers' brokers over multiple blasts, and received over 2,500 opens

With almost no inventory in 3 bed condos near Broadway in the west 60’s and still having a listing with beautiful “bones” we continued to market and show every request and push for offers knowing the clock was ticking 

After 2 weeks off the market we received a strong cash offer which we only had to counter slightly to make the deal.  Our patience, faith and persistence paid off! 

We just closed and our clients are thrilled and putting the funds to good use in the purchase of a larger unit. 

We can put this kind of enthusiasm and persistence to work for you!   

This is our 20th sale in 20 years working in the building 

We know how to sell the building and the area and what buyers need to hear to pull the trigger

Give us a call at (917) 905-2878 or email [email protected] to start your successful sale story today! 

Rick Kelly