Done Deals: 7 Bond Street, PH AB

Brokers WeeklyJuly 24, 2013
CORE’s Michael Graves has tapped into a pool of wealthy buyers who value privacy over perks. The veteran broker just sold two downtown lofts for over $12 million, despite having little or no amenities.

“The demand for boutique loft buildings downtown is very high,” said Graves. “And contrary to what some might believe, there’s a huge buyer pool of people who want buildings that are not amenity-rich. Some want to live discreetly and not come home to a doorman. They don’t need the interior gym and all the amenities being sold in the market these days. There’s a big buyer profile that I’m in touch with that likes these properties. I used that sales strategy for both properites.”

The four-bedroom penthouse at 7 Bond Street sold for $9.2 million, $700,000 above the asking price after just 23 days on the market. The building has no amenities.

Graves also sold a two-bedroom penthouse at 22 Warren Street for $3.55 million, $200,000 above the asking. A 1,000-square foot private terrace was the only “amenity.”