Apthorp conversion drama heats up
August 19, 2009 11:00AM
The Apthorp's condo conversion deadline is looming with project owners Africa Israel Investments and Mann Realty Associates needing to move 25 units at the building, at 2201 Broadway between 78th and 79th streets, by Sept. 15. According to a source, around 22 units are in contract, double the number reported to have been sold. But the building has been relying heavily on a media blitz including a major price slashing as reports of stars like Bruce Willis and Alec Baldwin looking at the building have emerged. Africa Israel and Mann Realty called in star agent Dolly Lenz, a vice chairman at Prudential Douglas Elliman, to handle sales in late July. [NYO]
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Comments
Anonymous
Dolly Lenz might be good for one-off exquisite places, but to structure a deal like this, you need someone who has access to fund money. A commercial asset sales person would be more appropriate.
Comment #1 Posted By: Anonymous 08/19/09
Anonymous
They rely too much on "Media Blitz" and not enough on media. I haven't seen a single ad about this property and hadn't heard of it until now. It would be a good idea for them to let people know about it and what's available in there.
Comment #2 Posted By: Anonymous 08/19/09
Anonymous
TRD you should be ASHAMED. are they paying you? neither alec baldwin nor brice willis will be buying at the apthorp. stop repeating the broker fed lies about this turkey.
Comment #3 Posted By: Anonymous 08/19/09
Anonymous
The criteria here is "bona fide" buyers -- people who are US residents who are puting their deposits down with certified checks from US banks. Anyone who believes that the sponsor will have 25 "bona fide" buyers by September 15th is smoking crack.
Comment #4 Posted By: Anonymous 08/19/09
Anonymous
Actually #2, they have done an ad blitz as well
Comment #5 Posted By: Anonymous 08/19/09
Behzad
I am on sidelin here in Beverly Hills... You are all pathetic.. LOL
Comment #6 Posted By: Behzad 08/19/09
Anonymous
1 you are not correct. The buyers are individuals, not funds or commercial buyers
Comment #7 Posted By: Anonymous 08/19/09
Corcoran Manager
If you want to move properties, you need to market them. That's all there is to it. There is no rolodex strong enough to do this much in sales. You need to campaign the properties and keep reminding everyone that they are for sale.
Comment #8 Posted By: Corcoran Manager 08/19/09
Anonymous
wasn't lenz suppose to come in and save the day?
Comment #9 Posted By: Anonymous 08/19/09
Anonymous
"As deadline nears, 22 units may be in contract." Great headline. On Christmas morning, Santa "may" come down my chimney.
Comment #10 Posted By: Anonymous 08/19/09
Anonymous
I hope blood diamond merchant/pig man Lev Leviev chokes on this one
Comment #11 Posted By: Anonymous 08/19/09
Anonymous
First Lorber was reported as stating 17 units in contract, then a week later Lenz was quoted as 11 units in contract, now two weeks later 22 units in contract. Yet per the elliman web site, the co-broke system and streeteasy.com there are -0- reported signed contracts. I think the AG should examine any of these alleged signed contracts to see if they are with parties or individuals that would be considered less than at arms-length transaction.
Comment #12 Posted By: Anonymous 08/19/09
Anonymous
Beverly Hills? what a dump
Comment #13 Posted By: Anonymous 08/19/09
Anonymous
everyone in the A building should know about the asbestos in the elevator shaft call 311 and check it out
Comment #14 Posted By: Anonymous 08/19/09
Anonymous
NYS-AG Andrew M. Cuomo can be reached at (212) 416-8000 in case anyone feels the need to reach out.
Comment #15 Posted By: Anonymous 08/20/09
Anonymous
Are brokers immune to liability when they pitch people to buy into a lawsuit, or does "buyer beware" override everything else?
Comment #16 Posted By: Anonymous 08/20/09
Anonymous
Mann realty has been out of the picture for months.
Comment #17 Posted By: Anonymous 08/21/09
Anonymous
Re: Comment # 16 Geeze isn't that what the offering plan's supposed to cover?
Comment #18 Posted By: Anonymous 08/21/09
Anonymous
Mann realty has been out of the picture for months.
Comment #19 Posted By: Anonymous 08/22/09
Anonymous
Caveat emptor, baby!
Comment #20 Posted By: Anonymous 08/22/09
Anonymous
Mann is still a major owner and may yet instigate another pissing contest. I feel bad for anyone that put up money here as they will only live to regret it.
Comment #21 Posted By: Anonymous 08/23/09
Anonymous
Why isn't this property co-broked?
Comment #22 Posted By: Anonymous 08/25/09
Anonymous
NY post says they made the 25????? who knows the truth? Or is it more hype from the brokers?
Comment #23 Posted By: Anonymous 09/04/09
Anonymous
I'm curious its not the 15th yet and if it were true wouldn't it be listed on streeteasy?
Comment #24 Posted By: Anonymous 09/04/09