Our Approach

Our team designed a marketing strategy that targeted both the existing universe of real estate investors and also capture potential owner-occupied buyers, offering a rare opportunity to purchase a stunning penthouse unit with income coming in from the lower three units.  The team was to target a buyer who would look beyond the market headwinds and recognize the quality of the asset.  It was thoughtfully staged and beautifully photographed to appeal to a sophisticated purchaser with refined taste. We co-brokered with a residential agent to ensure we left no stone unturned with regard to the source of potential buyers. Because the building was clearly in excellent condition, we expected strong and immediate interest in it from the market, even with the strange landscape.  This proved to be correct.

An impressive number of buyers indicated interest. Ultimately, it was the investment community that responded with the strongest buyer – one that had not been active for 10 years and had to sell another apartment building to complete the sale as part of a 1031 exchange.  Our team created a thoughtful counter proposal to the offer that eliminated price negotiation, rendered Earnest Money non-refundable, and outlined a feasible timeline for the buyer to perform.

The Outcome

Orchestrating terms and timelines that aligned the needs of all parties resulted in a successful on-time closing, a successful exchange for the buyer and a seller who got a strong price and was also relieved of the ongoing responsibility of being a landlord, her original objective.