308 West 78th Street

This townhouse’s unique challenge:

This handsome, five-story, 20-foot townhouse on West 78th Street with a four-story extension, offered an owner’s garden duplex or potential triplex. However, it had three rent-stabilized (RS) units and one single-room-occupancy (SRO) unit, which intimidated most buyers. Even so, the beautiful original detail throughout the building, combined with its location, spelled future value for the right buyer.

Our team’s innovative solution:

While representing the seller, Dexter identified a pre-qualified, repeat buyer from Vandenberg’s own Premier Buyer’s Service, the largest pool of West Side townhouse buyers. The clincher was convincing a buyer that this was truly a diamond in the rough and well worth a premium price. Buyers need to understand, and not be intimidated by, RS and SRO units. In just a matter of weeks, the seller had his asking price. By using Owner Occupancy Proceedings and negotiated buyouts the new buyer obtained additional space for his own use, successfully creating a stunning owner’s unit.