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Posted: July 26, 2009
Zborovsky of Mark Zborovsky & Co. brokers block sale of 11 unsold sponsor units at The Briarcliffe
A block sale of 11 unsold sponsor units in The Briarcliffe condo has closed for a record price, according to Mark Zborovsky of Mark Zborovsky & Co., Inc., who exclusively represented both the seller and the buyer. The 11-unit block is a part of a 36-unit, 24-hour doorman and concierge condo, housed in a pre-War 12-story building at 171 West 57th St.
This 11-condo unit block occupied by rent stabilized and rent controlled tenants was sold for almost $1 million per apartment (for all cash).
This the third bulk sale of unsold sponsor units which the King of Blocks has closed on this year. Zborovsky said that he is currently marketing two more blocks of sponsor units in Manhattan as well as two more sponsor unit blocks in Brooklyn and Queens.
Zborovsky said that despite the credit crunch, the (historically "all cash") market for block sales of unsold sponsor units in New York is still very active.
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