Residential deals

TRD New York /
Sep.September 01, 2010 07:00 AM

Chelsea

$615,000

223 West 21st Street

1-bedroom, 1-bathroom, 520 sf co-op in a prewar elevator building; second-floor unit has northern and eastern exposures, original details, renovated windowed kitchen and marble bathroom; building has storage, garden and laundry room; maintenance $719 per month; 40 percent tax-deductible; asking price $630,000; 5 weeks on the market. (Brokers: Kelly Killian, Bond New York; Pamela Wolfe, the Corcoran Group)

“Probably the most important part of this deal was the custom cabinetry. The buyer had actually purchased that cabinetry in a different color pattern for her own apartment in New Jersey, so she understood how high-quality the apartment was. She had been looking for a long time herself, and the sellers had a kid and were upgrading. Part of it was definitely luck. The people who came to view the apartment were very, very serious — there weren’t a lot of lookers. We had three offers within the 20th person that saw it.” — Kelly Killian, Bond New York

Midtown

$3.5 million160 Central Park South

2-bedroom, 2-bathroom, 1,100 sf condo in a prewar elevator building (Jumeirah Essex House); 24-hour doorman; concierge; unit has new kitchen, renovated bathroom and 1,200 sf wraparound terrace with views of Central Park; building has hotel services, valet, health club; common charges $3,738 per month; taxes $745 per month; asking price $3.995 million; 39 weeks on the market. (Brokers: Nancy Candib and Chris Dominiak, Brown Harris Stevens; Jamie Lee, AC Lawrence & Co.)

“It was an all-cash buy and the sellers needed the money quick. We signed a contract in late May and our contract was to close within 30 days. But by the time the contract was fully executed and board-approved, we had less than two weeks to set up the closing. My buyer lives in China and I knew he had the funds, but it turned out that it took him longer than anticipated to get them together. It was nerve-racking, because the sellers were pushing their attorney to close quickly, and although my buyer understands English perfectly, it’s difficult for him to negotiate in English. I speak fluent Mandarin, and I was the one coming to the attorney and relaying the information back and forth. The attorney told me that we would have only one chance to extend the closing deadline with a legitimate reason, and it all wound up coming together. We closed on a Monday when the deadline had been the previous Friday. Now, my buyer is renting out the apartment, but eventually he plans to live there when he moves from China with his wife and daughter.” — Jamie Lee, AC Lawrence & Co.

Kensington


$199,000

475 East 7th Street

1-bedroom, 1-bathroom, 600 sf co-op in a postwar elevator building; unit has windowed eat-in kitchen with northern and western exposures; building has storage and laundry facilities; maintenance $634 per month; 38 percent tax-deductible; asking price $199,000; 22 weeks on the market. (Broker: Leif Johansson, Barak Realty)

“I’ve sold two apartments in that building, both to twenty-something professionals, both through Craigslist. This area is actually pretty cool — it’s what Park Slope was like 10 years ago. It’s a nice alternative to Park Slope because it’s much more affordable and still a safe neighborhood. Most people don’t really know about it. This buyer was a really smart recent college graduate who had been living with his parents on Long Island. He has a good job and wasn’t paying any rent, so he was able to save up some money. The first-time homebuyer tax credit was extended; otherwise he wouldn’t have made the cutoff, and that was something he was quite aware of.” — Leif Johansson, Barak Realty

Interviews compiled and condensed by

Sarabeth Sanders

 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Keith Gelb and Bill Walton with 63 and 67 Wall Street (Rockpoint, Google Maps)

Rockpoint Group settles alleged rent-stabilization violations for $5M

Rockpoint Group settles alleged rent-stabilization violations for $5M
CoStar CEO Andy Florance and CREXi founder Michael DeGiorgio (Photos via CoStar on YouTube; CREXi)

Back in court: CoStar sues rival over “massive” copyright infringement

Back in court: CoStar sues rival over “massive” copyright infringement
Larry Korman (Photo by Emily Assiran)

The self-lockdown lifestyle of AKA’s Larry Korman

The self-lockdown lifestyle of AKA’s Larry Korman
John Legend and Chrissy Teigen find roomier digs in Benedict Canyon

John Legend and Chrissy Teigen find roomier digs in Benedict Canyon

John Legend and Chrissy Teigen find roomier digs in Benedict Canyon
Housing and Urban Development secretary Ben Carson (Getty; iStock)

CoreLogic’s screening algorithm may have discriminated against renters: lawsuit

CoreLogic’s screening algorithm may have discriminated against renters: lawsuit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...