$15,600,000 - Long Island City, NY

Condominium

Challenge
Market  Downturn - Grand Opening - Financing Issues

East River Tower is a 74-unit luxury condominium building in the Borough of Queens, New York. Although the property has breathtaking views of Manhattan and high-end finishes, there were no sales in the building despite a year-long conventional marketing effort.

Solution
Sheldon Good & Company was engaged by the seller to conduct a Grand Re-Opening campaign. Using sophisticated marketing techniques and recognizing that the target demographic were young professionals that work in Manhattan, the marketing plan focused on Manhattan, northern New Jersey and southeastern Connecticut using print media as well as extensive digital and social media marketing on popular websites. 

The campaign goals were to sell 15-25 units in the auction to establish pricing and obtain approval for financing.

Results

  • 1,397 property tours
  • 500 attendees at auction
  • 27 units sold
  • Total Sales: $15,600,000

Click below to have an auction representative contact you about selling your property.

    East River Tower