Residential deals

Midtown East

$2.15 million

425 East 58th Street, Apt, 43G

Two-bedroom, two-and-a-half-bath co-op unit in a postwar elevator building (the Sovereign); apartment has central air, washer/dryer, balcony; building has doorman, concierge, gym, garage; asking price $2.19 million; nine months on the market. (Brokers: Jessica Ushan, Brown Harris Stevens; Lindsey Owen, Town Residential)

“I have known the seller for many years, as I was the listing broker when they bought the apartment. We had multiple bids from qualified buyers. The buyers, who live overseas, had already decided that they loved the building from a prior visit. They bought the apartment from photos and didn’t see it until they flew in for the board interview. [That made the owner] a little nervous, but he was there for their visit and it went very well. The board approval process was very smooth.”

Jessica Ushan, Brown Harris Stevens

Soho

$3.22 million

464 Broome Street, Apt. 5W

Two-bedroom, two-bath, 2,200-square-foot co-op unit in a prewar elevator building; apartment has direct elevator access, skylight and claw-foot tub; building has full-time super, roof deck; one week on the market. (Brokers: Henry Hershkowitz and Heather McDonough, Douglas Elliman; Robert Dankner, Prime Manhattan Residential)

“I met the buyer at an open house of mine — another property in Soho — that he liked, but it was not ‘the one.’ He had been looking on his own for about a year and was skeptical that I could help, but asked me to prove my value. We looked at about 30 apartments over the course of eight months. This building has two retail leases that generate income for the building, so there are no maintenance costs and the unit actually receives an annual dividend of $20,000. [My client] liked that, as well as the location. And [the unit] is on the top floor and there are two massive skylights in the living room that bring in more light and air. There was enormous competition for the apartment and it was clearly priced under-market. [To determine what to bid] we had to assess what the fair market value was, which was as much as $750,000 more [than the asking price.]”

Robert Dankner, Prime Manhattan

Upper East Side

$1.4 million

363 East 76th Street, Apt. 8F

Three-bedroom, two-bath, 1,700-square-foot co-op unit in a postwar elevator building (Sherman Towers East); apartment has hardwood floors, stainless steel appliances, granite countertops; building has full-time doorman, live-in super, private storage, bike room, roof deck; common charges $2,125 per month; asking price $1.42 million, 19 weeks on the market. (Brokers: Beverley Rouse, Town Residential; Eugene Litvak, Citi Habitats)

“I’ve known the purchasers for years. I rented them their first home about five years ago. They got engaged and wanted an upgrade in space, so we worked together to get them into a larger rental unit. Several years later they were ready to buy. We looked at about 20 apartments. At this unit, they liked the nice views, renovated kitchen and, most importantly, great closet space — several of the units we saw offered very limited storage. But we found out that the pilot lights on the stove were not working and the lights in the kitchen would not switch on. I met the super at the building at 7 a.m. and made sure everything was fully operational before the closing. What made this deal particularly interesting is that the couple was expecting [a baby] and they were due a few days before the closing. We were trying to prepare everyone that we might have to delay the closing because there was a possibility [that my client] could go into labor. But fortunately the baby was cooperative and came a few days after the closing. It was a close call!”

Eugene Litvak, Citi Habitats