Sometimes the perfect property is worth fighting for.
Citi Habitats agent Roy Silber’s clients were family trust investors who sold a large commercial property to fund the purchase of a residential portfolio.
The group recently closed on 2 Northside Piers #24Y for $1,005,000, $10,000 over the asking price of $995,000.
“My clients are savvy investors, and believe in the long-term strength of the New York City real estate market,” explained Silber.
“Originally, they were interested only in properties in Manhattan, but when I showed them that the return will be better on the waterfront buildings in Williamsburg, they were sold.”
Silber’s clients were especially drawn to the home’s views of both the Manhattan and Brooklyn skylines from the 24th floor, as well as the unit’s appreciation potential.
There were several other parties interested in the home, and a bidding war ensued.
“We had the strongest offer and I was able to negotiate a post-closing occupancy for the seller, which gave me enough time to secure a tenant for the apartment. My clients were happy as they were receiving income from the unit right off the bat.”
So far, Silber has helped the investors purchase 10 apartments.
“They are true believers in New York City,” said Silber, “And they wanted a their own piece of the Big Apple.”
The property was on the market for three weeks. Ralph Modica of Douglas Elliman represented the seller.