The Beacon

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$8,800,000 - Jersey City, NJ

Condominium

Challenge
Market Downturn

The Beacon, a high-rise condominium building, was in Phase I of a conversion plan by a prominent New York City developer. The 365-unit condominium project was approximately 75% sold out when sales slowed.

50% of the remaining units had been leased. The developer wanted to reduce inventory and free up capital to focus on the next phase of the project.

Solution
Sheldon Good & Company implemented a 6-week marketing strategy to accelerate sales and close-out the balance of the unsold Phase I units.

Results

  • 1,300+ inquiries
  • 750 property tours
  • 300 auction attendees
  • 31 units sold at auction
  • Total Sales: $8,800,000