Two Trees’ commercial head aims for residential flip

TRD New York /
Sep.September 15, 2013 10:00 AM

Caroline Pardo, Two Trees’ director of commercial leasing, is taking a crack at residential dealmaking by selling her own two-bedroom condo in Dumbo for a 50 percent gain. Pardo purchased the unit at 133 Water Street last year for $717,800 and she’s hoping to flip it for a cool $1.1 million.

Pardo has brought on NY Casa broker Rachel Aschalew to help find a buyer, and despite the price hike she expects a bidding war.

“I’ve received several calls about it already; it has a bridge view and a terrace,” Aschalew told the New York Observer. She added that part of the unit’s appeal is its relative affordability.  It is the least expensive two-bedroom in the building — a slightly bigger two-bedroom in the building is asking $110,000 more.

As The Real Deal previously reported, Pardo has helped bring a slew of diverse commercial tenants to Dumbo.  Some of her prominent deals in the area include Barneys, Trader Joe’s and Urban Outfitters. And although she is giving up her current Dumbo abode, Pardo isn’t planning to abandon her beloved neighborhood. When asked if Pardo was looking to relocate, Aschalew said: “Of course she’s staying in the neighborhood!” [NYO]Christopher Cameron


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