The Real Deal New York

Corcoran out, BHS in at On Prospect Park

January 12, 2012 04:00PM
By Guelda Voien

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From left: Stephen Kliegerman, Roberta Benzilio and On Prospect Park

Brown Harris Stevens is now handling the marketing of Richard Meier‘s On Prospect Park, taking over from the Corcoran Group, BHS said today.

SDS Procida Development Partners, the developer of the 80-percent sold glass condo tower at 1 Grand Army Plaza in Prospect Heights, has tapped BHS’ Stephen Kliegerman, president of Brown Harris Stevens Development Marketing, and Roberta Benzilio, executive director for Terra Development Marketing, to lead the sales of the 21 units remaining on the market. On Prospect Park has been on the market since 2008.

“It was time for a new face,” Benzilio said, when asked what prompted the switch. “In any project a fresh face is… invigorating.”

Calls to Corcoran and the developer were not returned.

The building is also premiering new “combination” units this week, which allow buyers to customize simplex and duplex units with two to five bedrooms.

The 15-story development is also offering “price-improvements,” on 10 of the units that remain on the market, BHS said. As Curbed pointed out earlier today, those “improvements,” are price cuts of $100,000 in some cases. A three-bedroom which was asking $1.8 million is now asking $1.7 million, and a two-bedroom that was listed for $935,000 is also asking $100,000 less, according to Streeteasy.com. Another two-bedroom has dropped in asking price from $945,000 to $895,000. The three penthouse units, which the developer is open to combining into one unit for an interested customer, did not have price cuts, Benzilio said. The three penthouses still available have asking prices of $4.9 million, $2.75 million and $5.1 million.

The average “improvement” at the building is a cut of around six percent, according to Benzilio.

In June, sales at the condo tower were averaging around $1,100 per square foot, The Real Deal reported.

  • Scrooged

    The best strategy for new developments is to use one firm for one year and if their Rolodex is not sufficient to sell it out, then on to the next one. Second phase buyers are not exclusive to any one broker.

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