Brian Phillips, associate broker at Sotheby’s International Realty, was the listing broker for a townhouse at 320 Convent Avenue that sold for $3.89 million. [The price and address came from city records because Phillips was barred from discussing specifics due to a confidentiality agreement.]
As told to Lauren Elkies
It is difficult to persuade buyers to pay a record price for properties Uptown because a lot of these listing prices in Harlem are not comp supported. It’s especially difficult because what do you base that on?
So it’s not about showing comps. It’s about educating the buyer about the future, what the future looks like for this particular area and conveying that, not just showing the house.
The purchaser has to believe that they’re making a good investment in the long run. It might not make sense on a short-term basis. If they’re looking all over Manhattan and seeing how Harlem has grown in the last couple of years, they’ll realize that in the long run it’s a win-win.
The co-broker and I spent a great deal of time back and forth. I’m sure the relationship of the buyer’s broker contributed to the sale also.
I didn’t believe it was impossible. Of course, it was in the back of my head that people were telling me it was ridiculous, but I’m just one to persevere. I take into consideration what people tell me, but I just believe in what I’m selling.
I have a habit of going against popular opinion. I used to practice real estate in Long Island and Queens, and many of my friends and family thought it was a mistake coming into the Manhattan market cold turkey with no connections. I believed I could make it here. I came to Manhattan without any Manhattan experience, and look at how I became a success Uptown.
I can’t discuss the [sale] number, but I feel vindicated, just having some backbone and not allowing myself to be deflated by other people.
…to set a price record for a Harlem condo
Sean Futterman is the senior on-site sales agent for the Griffin Real Estate Group, the exclusive marketing and sales firm for The Lenox at 380 Lenox Avenue.
As told to Lauren Elkies
Penthouse D sold for $2.4 million in February of this year, which was a record for a condo [above 125th Street] in Harlem.
The apartment is a 3,000-square-foot duplex, plus a 1,200-square-foot private roof terrace. It has three bedrooms with a 50-foot expansive living room with magnificent unobstructed Central Park views. It’s got a wood-burning fireplace, which I actually convinced the developers to put in because I thought it would really bring the charm. It’s like having a penthouse at the Essex House or the Carlyle, or something like that on Central Park South.
The buyer is an international attorney dealing with real estate and international relations. He’s very, very excited. It’s just a single guy, probably in his mid-50s.
I’m jealous of my buyer. I wish I could buy the apartment myself, of course, and, eventually, I will.
It wasn’t an easy sale. It was back and forth, and convincing the buyer. When I sold the penthouse, I actually converted him from one of the other penthouses which he was going to buy. I knew in my head as a closer and as someone who knew what the client wanted, he wants the best. So, I convinced him to take the best. He was going to buy something that was $600,000 to $700,000 less. I convinced him that this is what he wanted. And he’s very happy with his choice and can’t wait to move into the building.
It was a monumental feat to sell this. I thought we would eventually get the amount, but truthfully I was very concerned at one point. I thought it was going to be tough to get that kind of price and if it was going to sell, it was probably going to sell later on.
When I had him sign the deal, that was when the champagne popped.