Residential deals

May.May 01, 2013 07:00 AM

110 Livingston Street interior

Downtown Brooklyn

$600,000

110 Livingston Street, Apt.7F

One-bedroom, one-bath, 760-square-foot unit in a prewar elevator condo conversion; apartment has central air, washer/dryer; building has full-time doorman, 24-hour concierge, live-in super, fitness center, roof deck and garage; common charges $418 per month; taxes $69 per month; asking price $625,000; eight weeks on the market. (Brokers: Angelo Rodriguez, NY Casa Group; Rory Bolger, Citi Habitats)

“The buyer is originally from Brooklyn but was living in California for the last several years and is moving back to New York to be closer to his family. We looked at about a half-dozen other apartments, mainly in the Financial District, before we decided to take a look in Brooklyn. The location of the building — right across from Borough Hall with easy access to several subway lines — was a draw because it is among the best areas for transportation in Brooklyn. The buyer also liked the fact that the building is able to command premium rents, a big plus if he ever chooses to use the condo as an investment property. There were heavy negotiations and we were in a bidding war. We were able to beat an all-cash buyer because the terms of our offer were better — but it took a lot of negotiation. At times things got a little intense. A big issue was that the first bank decided that they weren’t going to loan any more to the building, and finding an alternative lender put a huge delay on the process. The deal was touch-and-go at many points. Holding it together and keeping the buyer calm and comfortable was often a challenge. Buying an apartment is never an easy process, but my client was a trooper.”

Rory Bolger, Citi Habitats

Upper East Side

$4.31 million

200 East 66th Street, Apt. E1104

Three-bedroom, three-bath, 2,588-square-foot unit in a postwar condo conversion, Manhattan House; apartment has open kitchen, custom crown moldings, white oak floors and two balconies; building has full-time doormen, on-site valet parking, fitness and yoga center with spa services, and children’s playroom; common charges $2,322 per month, taxes $1,854 per month; asking price $4.4 million; 27 weeks on the market. (Broker: Tricia Hayes Cole, Corcoran Sunshine Marketing Group)

“The buyers were renting [a different apartment] from an owner in the building. They fell in love with Manhattan House and wanted to make this their permanent home. But it took them a full year to decide on the perfect unit. They also had a lease on the apartment they were renting. They didn’t need to use a broker because they knew what they were looking for.”

Tricia Hayes Cole, Corcoran Sunshine

Upper West Side

$600,000

749 West End Avenue, Apt. 1B

Two-bedroom, one-bath, 700-square-foot co-op unit in a prewar elevator building; apartment has high ceilings, marble baths, hardwood floors and home office; maintenance $914 per month; asking price $599,999; one week on the market. (Brokers: Lydia Sussek, the Corcoran Group; Marco Lombardini, Bond New York)

“My clients, [stand-up comedian and rabbi Bob Alper] and his wife, mainly live in Vermont, but wanted a pied-à-terre close to their daughter, who lives in the 90s off Broadway. We viewed many properties listed at up to $1.5 million, and thought this place was a steal. The kitchen needs some renovation, but as a pied-à-terre, it fit all of their requirements. We made an offer [of all cash at the asking price] within 24 hours of viewing the apartment, but there were multiple offers higher than ours. It was tense for a few days with a lot of back and forth. We had to close fast because the sellers were getting divorced. From signed contracts to close, the deal took about five weeks to do. Board approval was required, and since my client is a comedian, he nailed it in 30 minutes.”

Marco Lombardini, Bond New York


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

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

Wendy Silverstein (Credit: Getty Images)

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

From left: Dan Teran and Joe De Buy (Credit: Getty Images)

Two bitter rivals compete for WeWork castoff

Bel Air megamansion sells for $150M, setting LA record

Bel Air megamansion sells for $150M, setting LA record

Renderings of 1010 Park Avenue and The XI at 76 11th Avenue (Credit: CWC, HFZ Capital)

Contractor in alleged mob scandal worked on major NY projects

Global City Development principal Brian Pearl (Credit: iStock)

The $2.5B plan to lure millennials into new houses

Finger and Finger principal Kenneth Finger and landlord activist Jeff Hanley with Westchester (Credit: iStock)

Westchester group lobs its own constitutional challenge to New York’s rent law

arrow_forward_ios