Client:
The Madison Avenue Group LLC

Location:
1989 Madison Avenue, New York, New York

Listing Period:
July 2007 - October 2007

Harlem Lofts, Inc. was retained by The Madison Avenue Group LLC to market and sell this investment townhouse located in Harlem. This seller did not need a quick sale but preferred to wait for the right selling price. Our experience in Harlem and our memberships with multiple comp services such as The Real Estate Board of New York and The National Association of Realtors enabled us to determine the fair market value for the property with an estimated closing of 4-6 months. Our client asked us to list the property for six months and then, remove it from the market if we could not obtain a sale at 95% of the asking price.

We marketed the property to over 800 real estate firms through our membership with Online Residential www.olr.com, The Real Estate Board of New York www.rebny.com, Real Plus Online www.realplusonline.com, and The National Association of Realtors, which allows us to showcase our property on www.realtor.com.

21 potential buyers and 14 brokers made appointments to tour the house or attended open houses. After receiving multiple direct and other agency offers, we were able to co-broker a sale with Halstead for 98% of the asking price. The sale closed 3-1/2 months after we listed the property.