Howdy, Trashmii!! I hope you all enjoyed your week away from the City and the looniness of our beloved agents.
WELL, ONE OUT OF THREE AIN’T….NEVER MIND
This week, it looks like Ryan will have to humble himself at the Altar of Freddi. Can’t wait to see how that goes, so let’s get to it!
We begin with Fredrik. He is on his way to Bowery after having sold the other units on Mercer for a total commission of $369K. Fredrik has a listing appointment at 250 Bowery. He is meeting with Zach, the developer selling the “isn’t that in Chinatown” property on Park last season. The Bowery building has 24 units to sell.
The Bowery building is designed with an industrial feel. Fredrik explains that, while most developers are building larger, more exclusive apartments, Zach is putting smaller, more “affordable” (using that term loosely) units into this building, starting at two bedrooms, 800 square feet. He is also including four huge penthouses.
Apparently, there is something called an “Offering Plan,” a “promise” to the buyer that needs to be approved by the government. Being ever diligent for you, my Trashmii, I looked it up. Apparently, this Plan tells a buyer about the types of facades, amenities, materials, etc., that are being offered/used in the building. Prices will not be set and Fredrik cannot sell until the Plan is approved, so he tells Zach he will leak out preliminary estimates and on the day the Plan is approved, throw a big, non-Speakeasy themed party to introduce the building.
Zach tells Fredrik he has been speaking to other brokers, despite the sales Freddi has brought him in the past.