The Real Deal New York

Sotheby’s to market Macklowe’s 150 East 72nd Street

December 04, 2013 09:58AM

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150 East 72nd Street's renovated lobby

150 East 72nd Street’s renovated lobby

UPDATED, 11:00 a.m., Dec. 4: Macklowe Properties has tapped Sotheby’s International Realty to market the remaining units at 150 East 72nd Street, the developer announced yesterday. Sotheby’s will handle sales for the 40 percent of units that remain on the market.

“Having come to a successful point in both the percentage and number of sales within this grand Upper East Side building, we feel that it is excellent timing for this transition as the building begins closings,” Richard Wallgren, an executive vice president of sales and marketing for Macklowe Properties, said in a release.

The building, located at 72nd Street and Lexington Avenue, has two- to-four-bedroom units ranging from 1,300 square feet to 3,600 square feet. Macklowe Properties launched sales in January and hit the 50 percent sold mark in June.

Macklowe Properties, like many other major developers, usually markets properties in-house. The Related Companies’ recent decision to collaborate with Corcoran Sunshine to market about $5 billion worth of new projects including the residential component of Hudson Yards, represented a reversal of this trend. – Hiten Samtani

  • HughGass

    why don’t they have their plan approved yet? something’s not right.

  • barry

    InHouse sales or rentals don’t work. First Related going with Corcoran and now Macklowe going to Sotheby’s.

  • nycrealestate

    looks like they did some price slashing too

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