The Real Deal New York

From the July issue: In late 2006, when the Manhattan residential sales market was red hot, Lawrence Rich, an associate broker and vice president with Prudential Douglas Elliman, decided to put his money where his mouth was and buy some investment property. Rich chose a duplex at ThreeTen, a luxury condo tower at 310 East 53rd Street that boasts valet service and a private garden. He put down 10 percent and waited for construction to end so he could close and flip.