Case Studies

New Amsterdam, Washington Heights, NY

Situation

The New Amsterdam Condominium is a 33-unit building located in the northwestern section of Manhattan. The Seller only sold three units within the year prior to our sale and four of the units were reserved for affordable housing. 

The owner’s goal was to accelerate the sales of the remaining 26 units in the building, pay back his lenders, and close out the project.

Strategic Solution

We offered for sale all 26 units, with six to be sold Absolute regardless of price.

Conclusion

The six-week auction program produced the following results:

  • 1700+ Inquiries 
  • 765+ Open House Attendees (Parties)
  • 233 Due Diligence Packets Sold
  • 90 Bidding Parties
  • 26 Units Sold

Market Pricing  Closeout of the Project

The Seller was very pleased with the pricing our program achieved and he chose to sell all 26 units at the auction.