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