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112 W 18th St - Case Study

The Tavivian Group representing the buyer was hire to search for a 2-bedroom condominium in Chelsea for less than $1,000,000.

Due to the almost non-existent inventory in this price point, the strategy was to find a raw space so the buyer would be able to customize it to their own taste.

After a massive mail, search and phone call campaign, The Tavivian Sporn group was able to source 112 W 18th Street, #5C.  Asking price was $999,000, approx. 1300 SF.

Analyzing the building and area comps for a mint-condition 2-bedroom condo, we felt comfortable perusing the deal, taking into consideration the value of the home once renovated.  The Tavivian Sporn Group negotiated with the owner and secured the price at $985,000 (2012).

  • Time frame from contract signing to closing was less than 60 days
  • After a gut renovation throughout, owners have moved in 4 months after closing on the apartment
  • A year later, we have approached the owners regarding the market trends and conditions in Chelsea, and had their attention set on the lack of inventory in the area.
  • After analyzing the market, we recommended to price the apartment at $1,900,000 (&1M more than the purchase price less than a year after closing)
  • We were able to fetch the full asking price, cash, in less than 2 weeks on the market

Chelsea is our market!  We believe in the neighborhood, its value and upside potential.

Our buyers are standing by!  If you are looking to sell or rent your home, please contact us to learn about our unique marketing strategy and selling methods.  We break records in every building we list, both in selling time and selling prices!  Our goal is to maximize your bottom line, and create value for you as our client.

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