I’m thrilled to share that 1485 Fifth Avenue, Apartment 13A is now in contract at $1,600,000. But the road to $1.6 million was anything but straightforward. We initially listed the apartment at $1,595,000. After nearly a year on the market, we adjusted the price to $1,550,000. Eventually, we reached the point where my sellers and I seriously considered taking the apartment off the market.
Instead, we decided to give it a little more time. And then everything changed. Fresh activity in the building brought new buyers through the door. Suddenly, we had two highly interested buyers competing for the apartment. What had been a challenging listing became a bidding situation, and we ultimately secured a strong offer of $1.6 million, achieving one of the highest prices per square foot in the building.
I couldn’t be happier for my sellers. They were patient, realistic, and willing to stay the course when it would have been very easy to walk away. Was there a little luck involved? Absolutely. The right buyers happened to arrive at the right time. But that’s also real estate.
Markets don’t always move in a straight line. Timing, patience, persistence, pricing, positioning, and sometimes a little luck all play a role. The important thing is knowing how to respond when the market changes and being ready when an opportunity presents itself. For me, this transaction was a wonderful reminder that sometimes giving a property just a little more time can make all the difference.
If you’re considering buying, selling, or renting your home, or simply want to pick my brain about the NYC real estate market, please feel free to reach out. I’m always happy to talk real estate.
– Cheryl Rodrigues (cheryl.rodrigues@crrenyc.com)
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