Condos: $5,000 off for a limited time only

TRD New York /
Nov.November 13, 2008 04:24 PM

The condo conversion at 300 East 64th Street is offering coupons to buyers who sign contracts at the building before year’s end.

The coupons, which trim $5,000 off of closing costs, were posted on the development’s Web site Tuesday, and the coupon is on the Web site today, but it won’t be there every day, according to Rae Gilson, director of sales at Classic Marketing, the project’s exclusive sales agent.

The coupons might also change, offering different incentives to buyers throughout the remainder of the year. However, buyers may only use one coupon at closing. 

Gilson said the coupon idea did not come in response to the down market, but agreed that the coupon will be especially appealing to people because of the economic crisis.

“Everybody is looking for the best deal out there, and want[s] to know they did the best they could [to save money],” Gilson said. “And how much nicer would it be to walk away from closing with $5,000.”

The newly renovated building has 107 units, 15 of which are currently listed for sale on Classic Marketing’s Web site, with studios starting at 470 square feet up to junior-four bedrooms at 1,000 square feet. The building also has a roof deck, lounge, concierge and fitness center.

Sales started at the building during the summer, and Gilson said “a good number” of contracts have been signed, but the building has not started closings yet. 

Gilson said they are considering using the coupons, or another buyer incentive plan, at 400 East 90th Street, and some other buildings the marketing group is working with.

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