Done Deals

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

The New York Sun

UPPER EAST SIDE


400 East 70th Street
Three-bedroom, 2.5-bath condominium
Asking Price: $2.5 million
Selling Price: $2.3 million
Monthly Costs: $1,500
Time on the market: one year


FULL CIRCLE The seller of this duplex penthouse hired the broker who sold him the apartment to resell it. After an unlucky string of months without getting a bid at the right price, the seller switched from the first broker, Michael Spodek of Halstead, and instead hired the team of Barbara Cardozo and Richard McTighe of Douglas Elliman.


They managed to sell the apartment at the right price, but it was Mr. Spodek who brought the buyers who offered the right price.


“He needed me to close the deal after all,” Mr. Spodek said.


“It is nice how it all worked out because everything comes full circle,” Mr. McTighe said.


The seller, a single man who works in public relations, left the apartment on the market for a year in hope of recouping his expenditures.


He “spent a small fortune” on a gut-renovation of the home when he bought it several years ago, Mr. McTighe said.


The 2,100-square-foot apartment boasts French doors that open onto a 500-square-foot terrace, a fireplace, and views of the city, Central Park, and the East River. The second floor, where the master bedroom is, has a second, smaller terrace.


The buyers are two doctors and their children, who will use the apartment as a second home. Their primary residence is on Long Island.


FINANCIAL DISTRICT


3 Hanover Square
One-bedroom, one-bath co-op
Asking price: $485,000
Selling price: $485,000
Monthly costs: $1098
Time on the market: one day


OLDE NEW YORK This 900-square-foot loft, which boasts 10-foot beamed ceilings, river views, and a renovated kitchen and bath, is in the original Cotton Exchange building, built in 1928.


Converted into a co-op in 1984, the building, which is two blocks south of Wall Street, is across from historic Hanover Square, where the British government is building a garden to commemorate its citizens who died on September 11, 2001.


Stone Street, a historic street with numerous restaurants and bars that the city recently renovated, is also around the corner.


The sellers, a couple, work in the retail and nonprofit sectors and moved into a two-bedroom apartment they are renovating in the same building.


The buyers, a couple who work in retail and insurance, had been renting in the neighborhood and wanted to buy.


“It is funny because both the buyers and the sellers loved the neighborhood, and no one wanted to leave,” the exclusive broker for the deal, Katherine Vaccaro of Douglas Elliman, said.


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