After years buoy, developers of a luxury skyscraper designed by Jean Nouvel on 53 West 53rd Street are hoping for a new team of brokers to launch sales.
Hines and Singaporean developer Pontiac Land Group have named Douglas Elliman Development Marketing to take over marketing and sales from rival Corcoran Sunshine Marketing Group, the company said on Wednesday.
Samantha Sax, Pontiac’s Chief Marketing Officer, said in a statement that development partners look forward to Elliman for his “depth of sales talent” and “true global reach.”
Susan de França, President and CEO of Douglas Elliman Development Marketing, pointed to the brokerage relationship with London-based real estate company Knight Frank as the key to attracting foreign buyers. She said they also expect considerable interest from American buyers in affluent markets, especially in Los Angeles. The team of Fredrik Eklund and John Gomes was “hand-picked” by Elliman’s property to work on the project, de França said.
Shari Scharfer-Rollins, who leads the sale at 432 Park Avenue, will be the sales director and the team will also include brokers Frances Katzen, Jade Chan and Matthew MacKay.
“Thanks to our diverse network of brokers, we are able to identify different demographic groups,” said de França. “We know the market is on our side right now.”
Elliman’s predecessor, Corcoran Sunshine, has been in charge of marketing since the sale began in 2014. At the time, the tower had a total sale of more than $ 2 billion, but as the housing market changed, that number was reduced by at least $ 167 million.
The conclusions of the project began in the spring of 2019 and the same year the developers headed to arbitration after disagreeing on how much more to reduce prices.
As of June 2020, 55 apartments and 107 unsold units had been sold, according to documents filed with the New York State Attorney General’s Office. The project’s total sales were adjusted to $ 1.96 billion, with prices ranging from $ 1.2 million for a 415-square-foot studio to $ 66.5 million for a 6,700-square-foot shelter under a revised bidding plan.
A representative of the Pontiac Land Group declined to comment on the sale of the building.
Kelly Kennedy Mack, president of Corcoran Sunshine, called the decision to replace her company a “disappointment”, especially since the market for new development conditions ready for immediate occupation is pick up. However, she defended the work of her team on the project.
“Although the pandemic has created many challenges and uncertainties, our success at Billionaire’s Row speaks for itself,” she said in a statement. Corcoran was selected by the Vornado Realty Trust to lead the sale at 220 Central Park South, which he had the top 10 best-selling housing sales of 2020.