The Real Deal New York

61 Fifth Ave. brings in Chiang, dumps Eklund

Units are now priced from $9.9 million to $24.9 million
February 21, 2015 10:10AM

After sitting on the market since July of 2013, the boutique condominium development at 61 Fifth Avenue is chopping its marketing team and its prices.

The Alta Indelman-designed building’s four apartments first listed with Sotheby’s. At the time, the cheapest unit was asking $12.975 million and the penthouse was asking $28.5 million, according to Curbed.

One year later, in April of 2014, Elliman broker Fredrik Eklund was tapped to market the building, where staggering monthly costs — $22,072 a month for the penthouse, $12,132 a month for the smallest unit — have been a hard sell. Eklund reduced the price of the least expensive unit and raised the price of the penthouse. Still no cigar.

Now the project is bringing on Corcoran’s Carrie Chiang and another round of price cuts – units are asking between $9.9 million and $24.9 million. [Curbed] – Christopher Cameron

  • John

    From Dim Cum to Dim Sum

  • M

    The monthlies are enormous. And the huge windows on the lower floors give no privacy. They are ok on the upper floors but you would feel like u are in a fishbowl on the lower ones.

  • irobot

    Why would anyone want to hire a broker who has so much going on in their life that they can’t see the forest through the trees? If I were a developer I’d want to hire someone that was only going to be working on my project and not 5+ projects, their own apartment, their own brokerage business overseas, islands for sale etc, and furthermore! Additionally, you are not able to get the attention of said broker so you get their 2nd/3rd string assistants. This all may be very well and good in a market that just needs order takers with developers that don’t really care what price they get for their property. However, sophisticated developers understand the true difference between order taking and salesmanship. Who would you prefer minding your multi-million dollar project? Also most small developments all have high carrying costs so the argument that the carrying costs are hindering sales should have

    • John

      Most big brokers sub them out to their underlings. The biggest sales pitch come when they get their owner to sign.

    • Char4Dew

      Chiang is a great broker and her team are all very good.
      I think these TV shows do nothing beside basterdize our industry and makes brokers look bad. If I was a developer I would never have given it to Eklund, while they did get TV exposure, not all exposure is created equal.
      FYI: no I do not work for Corcoran or Chiang – my opinion is not bias.

  • irobot

    continued> been dealt with at the onset of the discussions.

  • art

    See…Eklund ain’t all that great!
    Pompous publicity attention seeker to say the least.