Elliman’s Lenz helps broker $13M UWS deal at 40 percent off

TRD New York /
Jun.June 24, 2010 11:30 AM
From left: 535 West End Avenue and Dolly Lenz

A full-floor unit at Extell Development’s 535 West End Avenue has sold for $12.91 million — 40 percent less than its $21.5 million asking price, according to city documents.

Prudential Douglas Elliman superbroker Dolly Lenz helped broker the sale of the 8,451-square-foot, 11th-floor apartment in the 22-unit condominium at 86th Street.

“It was a very fast deal,” Lenz said, noting that the unit closed just two weeks after the sale. “It was a good situation for the buyer and seller.”

The buyer is an LLC called “535 Condo Partners.”

Despite the unit’s bargain-basement closing price, which amounts to $1,527 per square foot, the seven-bedroom, seven-and-a-half-bathroom pad had only been on the market for two weeks when it sold, said Lenz, who declined to comment on which party she represented or how she became involved with the deal.

Corcoran Sunshine Marketing Group has been exclusively handling sales for the building, including having the listing for the 11th-floor unit, since sales launched during the first half of 2008.

Corcoran Sunshine Marketing Group directed inquiries to Extell. Extell was not immediately available for comment.

Lenz said the deal was struck quickly after the buyer presented his offer.

“This guy [the buyer] said ‘I’m either buying this unit or another unit [at another building] and if you don’t accept this offer I’m going elsewhere,'” Lenz explained. “This is what the seller was willing to do. Everyone left the closing table very happy.”

While Lenz said she “may be” involved with sales at the building in the future, she declined to elaborate further.


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