November 21st 2011
This week on Selling New York, Warburg goes to Harlem and CORE takes a risk on a huge single-family residence in Chelsea.
Shaun Osher, CEO of CORE, works with Bruce Gallagher, the developer, to complete a beautiful construction of a single-family home located at 233 West 20th Street in Chelsea. The bottom two and a half floors of this home are original build, and the top three floors are new construction.
Laurie Messman, interior decorator, is brought in to create an inspiring minimalistic approach. She creates an art gallery entrance including statues and paintings. The theme of the décor is fun, lively, and functional.
Bruce Gallagher wants to launch the open house immediately just as the construction is complete. CORE only has a very tight schedule to pull the event together.
The Chelsea house is priced at $13.65 Million. It has 7,000 sq. ft., 5 bedrooms, and 6.5 bathrooms, an elevator, plus a nice courtyard.
The Open House seemed to be a great event. However, after nine weeks there were still no offers. I’m sure Shaun wasn’t too happy with the outcome.
Charlie Lewis and Robert Williams, brokers for Warburg, are given the task of selling several condos in Harlem. The developer has a note due at the bank in the next few weeks and needs to move the properties.
The views are amazing from the Harlem condo. They are given a $2k budget to stage the terrace. And, the terrace is a lovely 491 sq. ft.—larger than most New York apartments.
Robin Wilson is brought in to stage the terrace. She recommends staging the entire apartment for a quick sale. But with a budget of only $2k, it’s not going to go far enough. She needs $6k to complete the staging job.
Charlie and Robert meet with the developer, and she agrees to the extra $4k with the stipulation that the remaining units all need to be sold in the next few months.
Open House at Ellington on the Park in Harlem is a winner. The unit is priced at $675k with 1,261 sq. ft., 3 bedrooms, and 2 bathrooms. An offer is made on the staged unit immediately, and over the next several weeks, 13 additional units were sold. The developer was pleased and presented the brokers with additional units to sell.
Selling New York airs on HGTV Thursday’s at 10:30p/9:30C.