Case Studies

The Aristocrat, Weehawken, NJ

Situation

The Aristocrat Condominium is a 17-unit luxury building, consisting of one-, two-, and three-bedroom units, located in Weehawken, New Jersey. The building was completed in the fall of 2008 during the economic crisis, so the developer wanted to be the first owner to execute an auction sale during the downturn (spring 2009) in order to draw the market’s attention to his property, freeze the sale of competitive product, and sell out out his project in one day. 

Strategic Solution

We offered for sale all 17 units, with six to be sold Absolute regardless of price.

Conclusion

The six-week auction program produced the following results:

  • 1200+ Inquiries 
  • 1000+ Open House Attendees (Parties)
  • 230+ Due Diligence Packets Sold
  • 150+ Bidding Parties
  • 17 Units Sold

First-Choice Auction Marketing – Opened and Sold out the Project

The Seller was very pleased with the result, as our campaign completely froze the sale of any competitive product, and he believes we captured the entire market for his property. We also executed a Grand Opening Closeout Sale while achieving market pricing.

Note: Our team invited eight potential clients to the sale so they could witness the results firsthand, and all eight hired us to execute an auction sale of their or their clients’ projects soon after.