The Real Deal New York

Bracha family buys Rushmore unit for $5.2M

Keller Williams NYC chairman tries to offload Trump condo uptown
By Katherine Clarke | March 30, 2012 01:00PM

Ilan Bracha, chairman of the Manhattan brokerage Keller Williams NYC, the local franchise of national firm Keller Williams Realty, is moving up in the world in accordance with the growth of his franchise, which has accumulated more than 160 agents in the last year.

Bracha and wife Mati Bracha, an artist, have purchased a four-bedroom, 3,056-square-foot penthouse at the Extell Development’s Rushmore condominium at 80 Riverside Boulevard, according to public records filed with the city today. The deed for the property is in Mati’s name, records show. 

The couple purchased the apartment directly from the Corcoran Group’s sales office at the building for $5.2 million; the unit was asking $6.8 million. Monthly charges at the building average $0.87 per square foot thanks to a 421-a tax abatement, according to Lynn Brown, a salesperson at Corcoran, declined to comment on the sale.

Meanwhile, Ilan is still trying to sell his 1,425-square-foot, two-bedroom, two-bathroom unit with river views from at A Trump Place 220, further north at 220 Riverside Boulevard, a listing shows.

The unit has been on the market since early last year and is listed with Ilan himself for $2.69 million. He purchased it for $1.37 million, or $924 per square foot, in 2004.

Ilan was not immediately available for comment.

The exec caused a stir last year when he departed Prudential Douglas Elliman to start the Keller Williams franchise. He recently opened a new 25,000-square-foot office at 425 Park Avenue but will continue to work out of the firm’s office at 725 Fifth AvenueThe Real Deal previously reported.

  • Raging Realtor

    Good for him Hard working guy. Deserves it.

  • Scrooged

    Love the Bracha. He made something out of nothing. This is what you call a New York City story.

  • Get Real

    The Rushmore? What a downgrade. I guess times are tough.

  • Piedaterre

    The Rushmore is by no means a downgrade! In fact, the building has some of the finest apartments in all of Manhattan! And it’s a great building. More power to the Bracha!!

  • Penelope

    Alon must love that heheheheheh

  • glengarry

    TRD measures the growth of KW by the number of agents, KW measures growth by gross commissions.

  • expo123

    Everytime I hear about Ilan, I throw up a little in my mouth. Does anyone care that he just purchased the home that he’s been renting for years? Thanks for the unbiased exposure, TRD. How much does he pay you guys? I bet he has shares in TRD or something.

  • John Jay

    KW measures by gross commissions? Give me a break. KW measures by number of agents…PERIOD!

  • expo123

    KW is simply a parking lot for beginners. Not one top producer there.

  • glengarry

    John Jay. Obviously you don’t work for Keller Willams. They are a franchise and like any other franchised company sales is the bottom line.

  • Illuminati Cat