Zborovsky of Mark Zborovsky & Co. sells 13 unsold sponsor units - $2 million

Mark Zborovsky & Co., Inc. has closed on bulk sale of unsold sponsor unit. The block consists of 13 rent stabilized unsold sponsor units in The Danielle, a nine-story, pre-war 80-unit co-op corporation, located at 140 West 71st St. Though the block has a cash shortfall of $32,000 a year, it was sold in an all-cash transaction for under $2 million, 30% of its vacant market value. Mark Zborovsky represented both the seller and the buyer. Zborovsky said that though the overall residential market in New York has changed dramatically, his market, sales of large blocks of sponsor co-ops and condos in New York, is still very active. His company has just put under contract a small and very expensive sponsor unit condominium block in Manhattan, and is currently marketing three more blocks of sponsor units in Manhattan, and a large block of sponsor units in Queens.