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 WEST SIDE
530 West End Ave.


Three-bedroom condo
Asking price: $3.29 million
Selling price: $3.07 million
Time on market: 3 months


PRE-WAR GRANDEUR A three-bedroom condo at 530 West End Ave. sold recently for $3.07 million. Interest was strong for the 2,139-square-foot pre-war apartment, according to Jacky Teplitzky of Prudential Douglas Elliman, because pre-war condos are so rare. The sellers were a couple in their fifties. The wife, who works in public relations, had converted two of the main rooms into a home office. Filing cabinets next to dining tables are never a good look, so Ms. Teplitzky helped stage the setting using borrowed furnishings.


The buyers were a young family who lived in the area and needed more space. They signed the contract in November, but it wasn’t smooth sailing after that. Suddenly unhappy with the price, they tried to renegotiate, worried they had paid too much in what was a fairly turbulent market. But a contract is a contract, and the deal finally closed this month.


DEVELOPMENT CITY A commercial property at 429-31 W. 53rd St. sold recently for $9.25 million. The 50-footwide, four-story townhouse was owned and occupied by a maintenance company, OneSource, and was bought by a Manhattan developer who plans to convert the building into residential apartments. The property was on the market for about two months, but the contract turnaround was less than a week, according to Christoffer Broadhead of Massey Knakal, who represented the buyer. And that’s what sealed the deal – the sellers were impressed with the purchaser’s speed and made a decision despite strong interest from other parties.


UPPER WEST SIDE
429-31 W. 53rd St.


Four-story commercial
Asking price: $9.5 million
Selling price: $9.25 million
Time on market: 2 months


Mr. Broadhead also closed on a five-story residential apartment building 601-603 Tenth Ave. He described the transaction, which netted the seller $6.7 million, as “emblematic of how the neighborhood has gentrified.”The purchaser, a local investor, plans to undertake some minor renovations on the building’s common areas and hopes to reposition it as a luxury apartment complex. The sellers, two partners in the contracting business, are finished with the New York real estate scene, according to Mr. Broadhead. They’re too busy enjoying the sunshine down in Florida, apparently.


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