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Amy Rea's Blog

By Amy Rea | Broker in New York, NY

A Special Closing

The past winter was a long one, all right, but with the snow, the immobility, I was blessed with one closing of a beautiful condominium that is now under construction to be rebuilt completely. The proud owners will return from Asia possibly in six months when the renovations are final.


I was successful in negotiating 14% off the asking price in a climate that our company's chief economist declared the negotiation factor off asking price was actually 5%. My clients were very happy, but their funds were also good. All cash makes a difference in closing time, and we did experience some difficulties with a very large bank. In the end, the 51% financing became an all-cash deal.


That saying "money is your only friend" surely means Cash is your only friend.


Surprisingly enough another deal in Battery Park City made a run to the finish line that totally surprised me.  I really don't like to admit when I have given up hope, but I had felt I was living in a land of make-believe and suddenly, everything started to fall together.  I love that can happen, it is so rare.


After a seeming oddessy, a third property closed five days following the miracle closing. It was a good sale in the building I've been selling in since 2009: "The Raleigh" at 7 West 92nd Street. This 1902-built building was original a hotel of sorts, built with 9'5" ceiling heights, sliding doors, transoms (windows) over the doors, and built so very solidly with red-brick and steel girders. The basement must house about 6,000sf which is yet to be put to good use. This coop is on the move, as an HDFC Coop with income restrictions.


Some of the greatest deals are in this building, I feel, because of where it sits.


Nestled just two blocks north of the Great "El Dorado" Condominium, this really is like Old Gold neighborhood. If you want to find where the gold is, after you purchase a property in this building, you will be looking at your savings, which will over the course of five years save you on a monthly payment of $40,000 or more.  That's the normal lifetime of a property, isn't it? Let's say you want to stay longer, you can. The only restriction is on the purchaser's income for the last two years, shown by tax returns.


Isn't it time you can invest in yourself?


I have sold more apartments in this building than any other broker. I have one listing there, and am expecting to announce another shortly. So if savings and an elevator building created in 1902 and located three doors away from Central Park West tantalizes you, why not come to my Open House on Sunday from 1pm to 3pm and see it for yourself and talk with me?



With greatest wishes that miracles are happening for you!


And if they are contagious, come Let It Happen by stopping by to see me and my property!!


Truly yours,

Amy Rea



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