How To Put Your Property’s Best Foot Forward

While in-person showings have temporarily turned to virtual ones, there are still certain steps one can take to ensure their property is in order for presenting to potential buyers. The following are five tips on how to put your property’s best foot forward as you only have one chance to make a good first impression.

Declutter

As people tend to move for space, it’s important to remove as much extra stuff as you can. From personal photos to travel mementos and certain books, they can be distracting to a potential buyer. The goal is to depersonalize the space so someone can envision themselves in it and not be distracted. Seeing large items such as suitcases and golf clubs make people wonder where they would put their own. One trick is to utilize under bed storage but if you are very short on space, there are services that will come and pick up your storage to temporarily store. 

Storage

In regard to storing items, this isn’t a time you can throw it all in the closet as those will be closely examined. Within closets, remove anything off the floors to show extra space making it look larger. Have similar hangers all in the same direction, with nothing falling off. You’ve got that one second when someone opens the door. For toys, gym equipment and the laundry room, ensure everything is displayed in an organized way such as color coordination for towels and consistent toy bins. It’s always better to have dedicated rooms for these things. 

Freshen up

Adding a fresh coat of paint to an apartment can help reinvigorate the space. We always advise a neutral color and using it throughout to present a clean, continuous feel that really opens the space. Decorating in the same neutral color palette helps to not distract from the space. While staging doesn’t always make sense from a price point, it is a nice touch if the apartment is empty as it will help highlight the space and its potential. If you have decorated in a specific style, staging can help depersonalize the space to appeal to a greater audience. As a buyer, it can be hard to see past someone else’s taste and this is where staging is helpful. 

Touch-up cracks and grouting

In New York City, most bathrooms are windowless causing them to seem dimmer and drabber. Regrouting and touching up cracks is a small investment that goes a long way to brighten up a space and seem infinitely cleaner. If there is a crack or leak from years ago that was never repaired, it will raise questions for a buyer. Be thorough in identifying spots that need a touch up from the bathroom to kitchen backsplash. Installing new vents if yours are rusted is also a nice touch. 

Check all electrical

Are all your lights working? It’s a small thing that you aren’t aware of except when they aren’t working. There is no particular lighting that will help you sale the home faster but it should be consistent and there is a thing as too much lighting. If you have electric blinds ensure these work and make sure all appliances are clean and running. If the AC or refrigerator have dirty vents and filters, they tend to cause a noisy distraction. 

Brown Harris Stevens’ top producing team of Nada Rizk and Joanne Greene boast more than 40 years of experience of helping sellers and buyers alike successfully navigate the sales process. 

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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Compass Hires Top Keller Williams Team and Expands in New Jersey

Compass has announced the arrival of The Oldendorp Group, the top-ranked team in Morris County, New Jersey. Led by Susan and Zander Oldendorp, the team closed over $116 million in sales in 2019.

Susan Oldendorp

Susan Oldendorp

"We're excited to be the first Compass real estate team in northern New Jersey," said Susan Oldendorp. "We look forward to combining Compass's industry-leading technology with our extensive real estate expertise to provide the ultimate client experience." 

The sixteen-person team is comprised of regional and industry experts who specialize in navigating city-dwellers move to suburban communities near the New Jersey/New York Direct Trai Line including Madison, Chatham, Harding, Summit, Morris Township, Morristown, Florham Park, Berkeley Heights and New Providence.

Zander Oldendorp

Zander Oldendorp

The Oldendorp Group will be onboarded virtually through Enboarder, a virtual onboarding solution, and will be the first team to join the Short Hills office. For the time being, the team will be working from home.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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Fast Facts About The New York Real Estate Market

If you want to find out more, we’ve put together a few facts and figures about the realities of big city living— and some of them are sure to surprise you…

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Ideal Properties Group Launches Virtual and Remote Listing Viewing Option: “Showings on Demand”

Ideal Properties Group, a leading real estate firm with offices in Brooklyn and Manhattan, today announced its new “Showings on Demand” system. The virtual and remote listing viewing option is available to all Ideal clients for all of the company’s sales and rental listings

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“As we launch our ‘Showings on Demand’ virtual listing viewing capability, we are strongly encouraged by the opportunities it affords to everyone involved in the home showing process,” stated Aleksandra Scepanovic, Managing Director of Ideal. “Our engineers have been working on developing a full-cycle digital alternative to rental and sales transactions. The fluid and rapidly evolving situation surrounding the coronavirus outbreak in and around New York City has seen our team quickly ramp up the effort. On the apartment rental front, for instance, from client registration to lease signing, our procedure will offer clients an experience comparable to in-person showings, while affording them the luxury of seeing their selection of homes on their mobile or desktop devices, remotely and in the safety of their own environments. In a city of renters, we believe this digital procedure is going to be extremely valuable to everyone involved.”

“The health and safety of our sales and support staff, as well as the health and safety of the communities we serve – are of the utmost importance. We are focused on using our technological knowhow to provide our customers with the best possible service, one cognizant of the times we live in,” said Erik Serras, Principal Broker at Ideal.

“Showings on Demand” allows for uninterrupted flow of showings and minimizes rescheduling. It also provides agents the opportunity to conduct all aspects of a rental transaction digitally, from client registration to showings, application process and lease signing.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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What Is a Broker's Fee and Why Should NYC Apartment Hunters Be Concerned?

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Living in New York City can be an expensive endeavor. The cost of living is among the highest in the nation. With an average of $3,000 a month on rent, this is far from cheap. For apartment seekers, finding an affordable yet nice apartment can seem like a fool’s errand.

Recently the Department of State issued a new guidance to help renters. For years, apartment seekers accepted the outrageous fees that come with living in this city. This new ruling has banned the ridiculously high fees incurred on searchers. The joy of this ruling was short-lived, however. Due to a legal challenge by the Real Estate Board of New York, the rule is in limbo. This now puts the apartment lookers in an awkward position. They may choose to hold off while the court case plays itself off, hoping that the rule is upheld.

The broker’s fee

A broker’s fee is a commission or finder’s fee for the real estate agent. Typically, this fee equates to 12 to 15% of the rent. Many residents have voiced displeasure with this added cost since it is unique to New York City. Few other cities have similar ordinances. This fee, along with the first month’s rent and a security deposit, can add up and place large financial burdens on the new tenant. The ruling, should it remain, would take the burden off the resident and onto the landlords themselves. For now, however, the potential tenants will have to pay the fee until the injunction is lifted.

Gray area

Renters may choose to bypass the middleman and look for the apartment themselves or search online. This can be a bit tricky as agents are not clearly defined, leaving some gray area. During a survey, Curb.com some renters claimed that they were pressured by landlords to sign an agreement naming a broker. For many renters, there is not much that they can do.

How will this new ruling work?

Many New Yorkers are optimistic that the court cases can work out in their favor. Even if it does, some express caution regarding it. If landlords are required to cover the broker’s fee, they could offset the cost by raising your rent.

There are numerous factors that go into apartment hunting such as, proximity to work, neighborhood, size, and more. If you have an apartment that checks most of the boxes, it might be difficult to abandon this apartment because of the raised rent prices. This is a very real possibility for apartments that aren’t rent-regulated. Many landlords already practice this by including it in their monthly rent. If the new rule takes effect, many fear that landlords could lobby the Rent Guidelines Board could raise the rent capacity.

Improving your apartment’s value

For renters looking to move, they can do a lot to help the next tenant and the landlord. Even simple home repairs and new amenities can increase your apartment’s value. Many homeowners invest in renovations. For example, a home’s value can jump up 150% by investing just a little on the property landscape.

The bathroom is another room that often needs renovations. Over 80% of homeowners admit to replacing bathroom features during the renovation process. These ideas can also apply to renters. Investing in your apartment will go a long way to secure that you receive your security deposit back. For landlords, it can help make the apartment look more appealing and attract more interest.

Communication

The tenant and landlord relationship can be a mixed bag. Some tenants complain about landlords who are nowhere to be found while others complain about those who are unnecessarily strict. Landlords often lament about tenants who cause problems or are back on their rent.

Open and honest communication between each other is essential. This is especially true before they move in. When a client is interested in an apartment, they should exchange phone numbers for quick and easy communication. Text messaging is extremely effective since they are opened and read at a 98% rate. People do not read their email nearly as often and sometimes they do not have the time to commit to a minutes-long phone call. Text messaging is a quick and easy form of communication and establishes a quality landlord-tenant relationship.

Alternative options

There are also movements and policies looking to help out renters. In a Slate.com interview, a broker mentioned an idea that had been circulating. Putting a cap on broker fees could be a win-win for all involved. The cap could be no more than one month’s rent. This way the renter could avoid a large financial burden, the landlord can easier fill an empty apartment and the broker will still get paid.

Whether the restraining order is lifted, or a new broker’s fee cap is implemented, apartment hunters face a lot of questions. There may be not much they can do, but research is definitely important. They should do their due diligence and decide what apartment may be best.

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Howard Morrel and Leslie Hirsch Join Compass

Last week Compass, announced that nationally renowned agent team led by Howard Morrel and Leslie Hirsch. The team has sold over $2 billion in New York City real estate and was ranked as #11 in resale volume by The Wall Street Journal's Real Trends.

Howard Morrel

Howard Morrel

"We analyzed how we could increase efficiency and expand market share and Compass was the perfect fit," said Howard Morrel. "We are excited to work among our peers in an atmosphere that promotes growth with integrity. Here at Compass, we'll integrate world-class marketing, industry-disrupting technologies, and a human touch to optimize how we assist our clients." 

The long-term business partners, Morrel and Hirsch specialize in luxury condominiums, townhouses, and multi-family sales and have represented many notable figures in business, music, entertainment, and sports. They have also developed a specialty practice serving the real estate needs of family offices, trusts, estates, and guardianships. Morrel is an attorney, registered under Part 36 as a fiduciary real estate agent for court-appointed guardians. 

Leslie Hirsch

Leslie Hirsch

As founding members and lead brokers, Morrel and Hirsch paved the way for Engel and Völkers’ success in New York City. Joining Morrel and Hirsch on their move from Engel and Völkers to Compass are Alina Pogoroleva, Farbod Yarahmadi, Tanya Tang, Shawna Tamayose, Leda Gorgone, Minni Chalana and Morella Navarro. The multi-lingual team is composed of industry veterans who service a large client base with roots in New York, Miami, Los Angeles, China, Washington D.C., South America, Russia, and Western Europe.

"Our team is distinctively able to service a broad scope of buyer and seller clients by offering the most extensive network of in-house and external experts who have expansive international market knowledge, and who are equipped to navigate sensitive family issues," said Leslie Hirsch. "Our commitment to high-level bespoke service sets our team apart."  Among Howard and Leslie's most notable recent transactions is the sale of 101 E 63 Street for $18 million to buyer Tom Ford. The Upper East Side townhouse was designed by famed architect Paul Rudolph, the former Dean of the Yale School of Architecture and was the former residence of the designer to the stars Halston. Their current portfolio includes multiple million-dollar homes in Manhattan and Brooklyn.

Morrel is known industry-wide as an acclaimed "brokers' broker" and mentor to many. Morrel, Hirsch and their team will work out of Compass’ 10 E 53rd Street office.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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Open Houses You Have To See This Weekend

Looking for a new place to live or just curious about what's on the market? Check out our top open houses this weekend. 

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Douglas Elliman Honors Top Agents in New York City at The Ellies

On March 3rd, Douglas Elliman, the largest brokerage in the New York Metropolitan area and the second largest independent residential real estate brokerage in the United States by sales volume, celebrated the firm’s world-class agents from around the nation at its annual awards ceremony – The Ellies. Top performers from New York City, including Manhattan and Brooklyn, were among the honorees at this year’s event held at Mohegan Sun in Uncasville, Connecticut.

Dottie Herman and Howard M. Lorber

Dottie Herman and Howard M. Lorber

“Every year, our skilled and talented agents prove their status and reputation as best in class, and 2019 was no exception. We are thrilled to celebrate the extraordinary results of their hard work at the 2020 Ellies,” said Howard M. Lorber, Executive Chairman, Douglas Elliman Realty, LLC.

Nationwide sales for Douglas Elliman in 2019 totaled $28.7 billion as the company continued its nationwide growth into new markets. The firm was responsible for 44,726 sales and rental transactions, and was ranked the number two brokerage in the nation by sales volume.

Oren Alexander and Tal Alexander, founders of The Alexander Team, based out of Miami Beach and New York City, received the first-ever National Ellies Award.

“Our agents continue to perform at the top of the market in New York City, and have closed out another incredible year due to their dedication and effort,” said Steven James, President and CEO of Douglas Elliman’s New York City brokerage. “We’re thrilled to celebrate their talents and I look forward to seeing the success and tremendous achievements that 2020 will undoubtedly bring as well.”

In Manhattan, the Alexander Team, led by Tal Alexander and Oren Alexander, earned the award for Top Team by Gross Commission Income after a record-breaking year and Ann Cutbill Lenane was crowned the Top Individual Agent by Gross Commission Income. In Brooklyn, The Scott / Robles Team, led by Aran Scott and Anthony Robles, took home the award for Top Team by Gross Commission Income and the award for Top Individual Agent by Gross Commission Income went to Rebekah Carver. I’ve included the press release below and attached for your review.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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You Can Now Live In The Towers of the Waldorf Astoria

Last week, the iconic Waldorf Astoria New York launched the sales of the building’s condominium residences, The Towers of the Waldorf Astoria. The celebrated New York City landmark will introduce an unprecedented residential lifestyle to the heart of Midtown Manhattan, offering residents a world of exclusive private amenities along with special access to the best in-class services found only at the globally-renowned Waldorf Astoria New York.

Waldorf Astoria New York For Sale Residential Homes Off The MRKT

The Waldorf Astoria has been a beacon of timeless glamour and luxury for nearly a century—home to Hollywood’s elite, host to countless world leaders, and the site of cultural events and galas that hold a special place in the hearts of New Yorkers and visitors from around the world. When the Waldorf Astoria opened on Park Avenue to rapturous reviews in 1931, it was the largest and tallest hotel in the world and is currently New York City’s largest privately-owned landmark.

Now, with residences for sale for the first time, buyers from New York and all over the world can call it home.” The sophisticated residential interiors and amenities by internationally renowned designer Jean-Louis Deniot, the visionary behind some of the world’s most opulent private homes, create a truly modern experience within the building’s historic framework.

Waldorf Astoria New York For Sale Residential Homes Off The MRKT

Because of the generous scale of the property, residents will enjoy the highest number of service staff of any super-luxury residential building in New York, including a dedicated onsite concierge. One of the most unique features of the residences at The Towers of the Waldorf Astoria is the concierge closet, which is integrated into the design of the entryway in every home. The closet is used for the secure and private delivery of packages, laundry, and room service, and is accessible from both the common corridor as well as inside of the home. Residents will have exclusive access to over 50,000 square feet of private residential amenities, ranging from health and wellness to entertaining and business spaces, all brilliantly designed by Jean-Louis Deniot.

Waldorf Astoria New York For Sale Residential Homes Off The MRKT

Waldorf Astoria New York set the standard and defined hotel service at an ultra-luxury level, and future residents of the condominiums will enjoy priority access to the unrivaled services of the hotel, including signing privileges at restaurants and bars, preferred pricing, and a la carte services like housekeeping and 24-hour in-residence dining. In addition to the 50,000 square feet of private residential amenities, residents will also have access to 100,000 square feet of amenities at Waldorf Astoria New York, including the hotel’s restored landmarked heritage spaces, spa, restaurant and bars. “Waldorf Astoria New York is our flagship and origin story, and we look forward to reopening its doors to welcome guests to the iconic landmark which is integral to the fabric of our brand as well as New York,” said Dino Michael, global head of Waldorf Astoria Hotels & Resorts. “We are thrilled to offer a new residential component to the hotel, which will inevitably infuse a new life and spirit to the space and inspire us to bring our iconic ‘True Waldorf Service’ to the next level for residents.”

Waldorf Astoria New York For Sale Residential Homes Off The MRKT

Douglas Elliman Development Marketing is the exclusive marketing and sales agent. “This will be an exciting opportunity for buyers to own a piece of New York City history. We aren’t just selling extraordinarily beautiful residences, amenities and services; we're offering the opportunity to buy into a legacy that can never again be duplicated,” said Dan Tubb, Senior Director of Sales at The Towers of the Waldorf Astoria. “There is no more glamorous residential lifestyle in New York City, and we are very excited about bringing The Towers to the market after receiving thousands of inquiries from as close as Park Avenue to the far corners of the world.”

Waldorf Astoria New York For Sale Residential Homes Off The MRKT

The Towers of the Waldorf Astoria will offer 375 residences starting from $1.7 million. Occupancy is projected for 2022.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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Closings Commence at Quay Tower

Quay Tower Off The MRKT Brooklyn Heights Real Estate

RAL Companies and Oliver’s Realty Group announced today that closings have commenced at Quay Tower, the final new waterfront condominium offering at Brooklyn Bridge Park in Brooklyn Heights, located at 50 Bridge Park Drive. The building is marking several closings that rank among the top in the borough’s history, including a penthouse that is the most expensive residential sale ever in Brooklyn. 

“Quay Tower sets the new standard for living in Brooklyn, and we are eager to welcome our residents home to this exceptional building,” said Robert Levine, President and CEO of RAL Companies. “With sweeping views of Manhattan, Brooklyn, and beyond, beautiful interiors, and exclusive amenities, this quality of design and finish has never existed in Brooklyn. We have seen incredible interest from buyers, who are falling in love with the incomparable lifestyle that we have at Quay Tower and are subsequently setting borough-wide sales records.”

“We’re excited to see Quay Tower’s extraordinary, one-of-a-kind homes come to life with the arrival of our first residents,” said David Wine, Managing Partner at Oliver’s Realty Group. “Our residents will experience a waterfront lifestyle of health and wellness that is unmatched in New York City. Quay Tower’s amenities and exclusive partnerships coupled with Brooklyn Bridge Park’s outdoor activities—including five themed playgrounds, a dog run, and various athletic fields—means New Yorkers and their families can enjoy the ultimate in indoor/outdoor living.” 

Standing proudly along Brooklyn Bridge Park’s Pier 6, Quay Tower is a visually striking 30-story, 126-residence condominium designed by ODA’s Eran Chen, which features unrivaled views of the New York Harbor and Manhattan and Brooklyn skylines. The luxuriously appointed interiors, designed by the California modernist AD100 firm Marmol Radziner, were meticulously crafted to provide a sense of relaxed luxury for residents. A thoughtful floorplate means no resident shares a corridor with more than two neighbors; from two-bedroom homes with spacious, windowed master baths and wide-open views to four-bedroom residences that are redefining the offering in this borough, sales to date have confirmed buyers’ interest in Quay Tower.

Select west-facing residences also feature the privacy of direct elevator entries and the utility of suburban-style mudrooms—perfect after a day in Brooklyn Bridge Park. Residents are welcomed home to gracious floor plans with jaw-dropping views, as well as custom finishes of the highest quality. The kitchens include an integrated Gaggenau appliance package, custom white oak cabinetry, and white Princess Quartzite countertops. Meanwhile, spacious master suites feature oversized bathrooms adorned in Alabastrino Rustico travertine.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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Open Houses You Have To See This Weekend

Looking for a new place to live or just curious about what's on the market? Check out our top open houses this weekend. 

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Staying Poolside in the Winter In New York City

As temperatures are dropping, it is difficult not to reminisce about better and much warmer times. The weather can be quite miserable and dreadful, getting rid of any thoughts of going outside. However, even in an NYC blizzard, residents can enjoy their favorite summertime activity in these luxurious indoor pools.

111 Murray

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Designed by David Rockwell , 111 Murray features a stunning 75-foot lap pool that is surrounded by state-of-the-art lounges. Nearby, one can find an additional 25-foot-wide splash pool with floor-mounted water as well as a hot tub. The ambiance provides an ideal space for letting your worries fade away.

49 Chambers

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Restored by Gabellini Sheppard Associates, 49 Chambers is home to over 20,000 square feet of resort-like amenities including a lap pool.  The up-lit, mosaic tiled swimming pool is accompanied by a spa whirlpool, steam room, sauna, and hammam, creating a perfectly relaxing summertime atmosphere. macarons

100 Barclay

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Originally built by Ralph Walker in the 1920’s and known as the world’s original Art Deco skyscraper, 100 Barclay has been transformed into modern day luxury living. Inside, a beautiful 82-foot, two-lane lap pool is accompanied by a children’s 330 square foot wading pool providing summertime fun for the whole family in the bleak months of winter.

30 Park Place

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The Four Seasons has provided a new level of residential living at 30 Park Place, designed by Robert A.M. Stern. Here, residents can enjoy steam rooms and the luxurious Four Seasons spa, accompanied by a majestic sunlight 75-foot pool, perfect for pretending you are on a warm sandy beach.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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Lisa K. Lippman named 2019 Brown Harris Stevens Number One Broker

At Brown Harris Stevens’ annual awards and sales meeting on Thursday, February 27, 2020, Lisa K. Lippman was named the firm’s Number One Broker of the Year, an honor she received for the fourth consecutive year. 

In addition, Lisa was recognized for having sold the most Co-ops and Condos by a Manhattan Agent (57 deals), and was named the West Side Broker of the Year, and the West Side Listing Broker of the Year. She was also added to the firm’s 2019 Million Dollar Club.

Lisa_Lippman BHS Off The MRKT

Lisa is a 23 year real estate veteran, having successfully closed over $1 billion in sales over the last four years alone. She specializes in helping a discerning clientele buy and sell high-end cooperatives, condominiums, and townhomes throughout Manhattan. 

Consistently recognized among Manhattan’s top 5 individual brokers and the country’s top 20 brokers in terms of transaction volume, Lisa is currently representing some of the city’s most iconic properties including multiple apartments in the famed Apthorp, a large terraced apartment at 15 West 63rd Street, for $28,900,000, 25 Columbus Circle, 54Dfor $8,800,000, and 1185 Park Avenue, 9D for $7,000,000. 

 

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

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