Fields Development built the Saffron, a 75-unit condominium project in the heart of Jersey City, NJ. The project had not yet started advertising the units, and they chose us to jump-start the building sales by executing a Pre-Grand Opening Auction Sale. Their main purpose was to drive traffic to their property over other similar developments in the NY Metro area.
We publicly offered for sale only 14 units, with four to be sold Absolute regardless of price.
The six-week auction program produced the following results:
- 800+ Inquiries
- 1000+ Open House Attendees (Parties)
- 200+ Due Diligence Packets Sold
- 120+ Bidding Parties
- We sold 14 units at Market Pricing, and the developers put themselves ahead of their competitors with all of the attention and press, and sold out most of the building within one year.
First-Choice Marketing – Pre-Grand Opening Auction Sale
The Seller was pleased with the results, as he chose to sell out his entire project with us at the auction. They subsequently hired us to sell another project for them in Hoboken, NJ.