Prudential Douglas Elliman executive vice president Rob Gross, who has been working on 14 West 14th Street for two years.
From the April issue: You can file the bizarre sales situation at 14 West 14th Street under “thanks to the economy. “Rather than sell all their units at post-meltdown discounts, the sponsors of the building decided to sell just one-third of the units. Read: Roughly 20 of the 30 condos will remain in the developer’s hands and be rented out. Because most banks won’t finance buyers in a building where only 33 percent of the units are being sold, the developers, Albert and Robert Dweck, originally said they would sell only to all-cash buyers. Sales started in September. That strategy, not surprisingly, didn’t bear much fruit. No buyers plunked down cash for their apartments out of the gate. But then, after a couple of months, the team finally found a bank, NJ Lenders Corp., willing to finance buyers at the building. [more]
