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Million Dollar Listing New York: Bids and Brawls

Posted on 04/23/2015 by Elizabeth and General News

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By Ashley Thompson

 

Ryan's boss is sellinghis Tribeca apartment. Ryan considers it the "mullet of New York" but his boss sees this as all business. Not only does he want his home sold, he wants his 400 piece art collection sold, as well. He wants to sell the 1900 square foot abode for $5,000,000 which means he's looking for $2600 per square foot, $600 over the comps. Ryan sees the emotional attachment and they settle on a $4,500,000 selling point. His potential commission is $135,000. The artwork is 400 pieces by one artist and now Eddie wants it promoted and sold by Ryan with a advertising budget of $1,000. Who knows what his commission from this could be. Good luck, Ryan.

 

After calling in an appraiser he learns that the artist mostly became well known for his later abstract works rather than his oil on canvas. "Put them in the closet," she says. Wuh oh. $800-1,000 per piece is all she's estimating, frame included. Her advice is to hang them in the apartment and hope someone loves the apartment AND the paintings. Gulp. But Eddie isn't taking no for an answer so Ryan has an "art-partment open house". The low offer of $3,500,000 offends Eddie but he agrees to $3,750,000 with Ryan's commission being $111,750.

 

Fredrik's seller is moving from her massive home and Fredrik wants to list for $8,000 per sq. ft. She would like to sell for double that, ultimately settling for under $10,000 per sq. ft. (a measly $34,975,000). His potential commission will be $1,049,250. No big deal. In the past few years Japanese investors have been big buyers in New York. To grasp these buyers Fredrik decides to stage his new project with Japanese decor and food. The price is too, high, regrettably and his efforts go wasted. Even more bad news, his seller wants to list it higher at $42,000,000.

 

Luis is still trying to sell the apartment he convinced his client to move out of so that he could stage and decorate the outdated home. His listing price is $5,100,000. But he doesn't seem as interested in selling the unit as he does selling himself to the pretty girls. The seller isn't happy, even walking out on their meeting. Sell the place, Luis! For crying out loud. 5 weeks into the listing the seller is ready to move back into his home because there's only been one low offer. Shockingly the seller agrees but it's Luis that puts the plan on hold. The property eventually sells for $5,000,000 cash. Luis' commission is $150,000.

 

Photo credit: Bravo


  


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