Selling a property with a tenant in place adds a whole new level of challenges, reports Citi Habitats agent Eddie Maqbool.
Maqbool recently sold a two-family house at 2069 East 60th Street in Mill Basin, Brooklyn (pictured top) for $710,000 — $35,000 over the asking price of $675,000.
The five bedroom, 2.5 bath home has two full kitchens, a private backyard and one-car garage.
“I held only one open house, and that first night I had 30 potential buyers show up. We received seven offers and chose the winning one two days later,” Maqbool explains.
However, the sellers had a longtime tenant in place and didn’t want to leave, so I became the mediator between my seller, the tenant and the buyer. They ended up with an agreement that the buyer will ‘inherit’ the tenant, so it all ended up working out in the end.
“This sale helped me hone my negotiation skills like none other.”
The home was on the market for a total of 14 days. Ejona S. Bardhi of Elite Connect Real Estate represented the buyers.
309 E108th St. #4B
Duplex loft at Magnolia Mansion offers 14 ft. ceilings, washer/dryer, hardwood floors and over 1,600 s/f of living space. Foyer with space for library or home office placement. The first floor features 22 by 15 ft. living room, six south-east facing windows; open kitchen with island; guest bedroom; full bathroom. The second floor features three bedrooms, a master bath and a utility room. CC: $600. Asking Price: $1,175,000. Time on Market: 13 Weeks. Agents: Mae Bagal, Sotheby’s International Realty; Anthony Naber, City Connections Realty.
530 E72nd St. 8AB
Three-bedroom, 3.5 bath apartment with city and river views through panoramic wall of windows. Entry gallery with two outfitted walk-in closets; north-facing living room and separate dining room. Walnut herringbone floors, custom woodwork and built-ins, and central air conditioning throughout. Eat-in kitchen with Calacatta Paonazzo marble countertops, hand painted cabinetry with deep drawers, Miele dishwasher, Sub Zero refrigerator, garbage compactor, and black porcelain floors. Asking Price: $2,395,000. Monthly Maintenance: $3,095. Days on Market: 35 Days. Agents: Susan and Michael Abrams, Warburg Realty.
455 Main St. #12B
Two bedroom, 2-bath apartment with views of the city skyline and Queensboro Bridge through floor-to-ceiling windows. Master bedroom has en-suite bathroom. The kitchen has stainless steel appliances. Washer/dryer in the apartment. Asking price: $1,299,000. CC: $1,018. Days on Market: 139 days. Agents: Jason Haber and Eric Mendelsohn, Warburg Realty.
630 First Ave. #27K
Two bedroom, 2-bath apartment with panoramic views of Downtown and Midtown. new hardwood floors throughout, large closets, renovated chef’s kitchen with new high-end stainless steel appliances; renovated Italian marble bathrooms. Oversized double-pane windows in every room. Manhattan Place is luxury condo with a 24-hour concierge and 5-star amenities. CC: $1,052. Asking Price: $1,400,000. Time on Market: 5 Weeks. Agent: Bobby Rehani, City Connections Realty, Inc.
420 W23rd St. #5A
Renovated one bedroom with new wood floors (rubber sub floor). Bathroom with soaking tub, rain shower and TOTO toilet. Bedroom has walk-in closet, The has a Sub-Zero frigde, Fischer-Paykel double dishwasher and a new microwave above Bosch stove and breakfast counter. Apartment is wired for speakers. Terrace overlooking the gardens of 22nd Street. Asking price: $1,310,000. CC: $1,229. Time on Market: 48 days. Agents: Matthew Lombardi, R New York; Tiwei Chen, Silverpine Advisors.
145 Park Pl. #4D
One bedroom, 1-bath unit with open floor plan which allows for a living room, dining area and alcove for an office nook. Separate kitchen with a stainless steel appliance package and a full-size washer/dryer. Marble bathroom with dual vanity and a Whirlpool bathtub. The apartment overlooks the building’s landscaped courtyard. Asking price: $915,000. CC: $885. Days on Market: 72 Days. Agents: Jamie Fedorko and Catherine Silver Smith, Warburg Realty; Samantha Brody Moses, Next Step Realty.
35-21 79th St.
Gut renovated one bedroom apartment in The Monroe. Double city windows, sound-proof walls, ceiling and floor, insulated doors. King-size bedroom and four closets. The Monroe has new elevators, a new roof, new laundry room and all Local Law 11 recently completed and paid for without assessment. Live-in super, common garden. Asking price: $449,000. CC: $823. Time on Market: 56 Days. Agents: Thomas McNichols, R New York; Chrisoula Papoutsakis, TripleMint.
52 Waters Edge Rd
Country cottage situated on a corner lot in Southampton Cove. Two bedrooms, one bath, living room with brick fireplace, open eating area with new windows. Large loft, oversized cedar deck, outdoor shower, water access rights for kayaks, paddleboards and canoes. Asking price: $605,000. Time on market: 90 days. Agents: Mary Slattery, Corcoran; Scott Laine, R New York.