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Million Dollar Listing: New York: Luis 2.0

Posted on 06/18/2015 by Elizabeth and General News

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By Ashley Thompson

 

Fredrik is in the financial district, except he considers it the "new downtown" because it is so residential. Built around 1881, 5 Beekman housed several offices, then it became residential. After 9/11 the last of the tenants moved out, now it sits empty. Now it is becoming a 281 room hotel. But that's not all, next to it is a high-rise where on floors 17-51 there will be 68 residential condominiums... that's where Fredrik comes in. The top two floors are all glass penthouses listed for $15,000,000 with 360 views. Below the penthouses are three different condos: 1 bedrooms for $1,550,000, 2 bedrooms for $2,975,000 and 3 bedrooms for $3,700,000. The pricing for the building will average around $2500 per square foot, almost double for the area. The condo owners will have full access to the hotel (fitness center, concierge, room service) and priority access to it's restaurants. No wonder they're pricing high! Potential sell-out would be between $250,000,000 - $300,000,000, making Fredrik's potential commission pennies at $9,000,000. Unfortunately they are talking to several brokers so he may not get the listing. To set him apart he comes up with an idea to make a model of the building 15 ft tall so that you can actually see into the penthouses because it currently is unfinished. While it will cost a fortune ($500,000), he believes it will pay off. And so do they. Btw, it took 30 people 30 days to build this thing. Overall the builders spent $2.5m on a showroom because of Fredrik's suggestions. On the first night of showing he sold $44,000,000 worth of real estate, making his personal commission $1,320,000 to date!

Ryan is still trying to sell his $13,000,000 listing. While the listing includes (approximately $1,000,000 in) furnishings, it still has obstructed views of Central Park. He plans to shift his focus from old money to new, young money. Start-ups, tech firms, digital designers, gaming businesses... they're all invited. The real question being, do they accept Bitcoin? The attorney for the seller isn't pleased with the Bitcoin offer, he's concerned with the fact that the offer is low. Changing the options to rent they have a potential renter. Ryan is certainly pleased with this news as his contract says that if they unit should be rented he gets 15% of the monthly rent... which will be $50,000. PLUS he gets to keep it as pocket listing. His personal life is just as successful as his career, but things may change. Emilia got promoted to do nationwide legal at her firm, neither are very excited. To take the job means taking it in Geneva. Will Ryan let her go or will he sell real estate in Switzerland?

Luis is refreshed and ready to start anew and ready to head back to Harlem. The 5 story, 7500 sq. ft., 10 bedroom, 6 bathroom didn't sell the first time and he wants a do-over. Last time he walked away from the listing because he couldn't fetch them the $3.5m ask price they were after. He believes he can get them what they want this go around. Agreeing to a 30 day contract, they give him a second chance. His potential commission is still $105,000. The newest member to his team may just help him sell this house and it's jacuzzi tub with her sexy curves. Looks like it worked, full price offer and the sellers agree. That's not the only good news, they are giving him their house on the Hudson, 25 miles outside of the city, to list it.

 

Photo credit: Bravo


  


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