Mark Zborovsky of Mark Zborovsky & Co. has closed a bulk sale of 29 RS unsold sponsor units at 200 West 79th St. The building is owned by 200 West 79th St. Co-op Cooperation.
The units sold for $11 million. With the vacant market value of the block of $21 million the sales price of the block is equivalent to 50% of its vacant market value - the highest percentage ever achieved in a bulk sale of sponsor units in New York.
Mark Zborovsky said, "The high price of the block was fully justified by the inherent value of the property.
Both the seller and the buyer in this off-market transaction were exclusively represented by Mark Zborovsky.
This sale is the 14th bulk sale of sponsor units in New York arranged by Mark Zbororvsky & Co., Inc. this year.
Mark Zborovsky & Co., Inc. is one of the only brokerage companies in New York City that specializes in the analysis, appraisals, and sales of large blocks of rent regulated and free market unsold sponsor units (condominiums as well as co-ops).
Mark Zborovsky & Co., Inc. has sold more than 7,000 occupied sponsor units with an aggregate vacant market value in excess of $900 million.
These sales were made in blocks ranging in size from 12 units to 695 units per block, and in price from $200,000 to $64 million per deal.
These sales were also among the largest such transactions in New York City from 1990 through 2007. Tags: