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bizarre sales history

Started by inonada
over 5 years ago
Posts: 7952
Member since: Oct 2008
Discussion about 212 Fifth Avenue #10A
It seems this apt was: - Sold by sponsor in 2017 for $11.3M - Sold back TO sponsor in 2019 for $11.4M - Sold again by sponsor in pre-Covid 2020 for $9.975M Any speculation as to why the sponsor would buy it back?
Response by 300_mercer
over 5 years ago
Posts: 10570
Member since: Feb 2007

They upgraded in the same building.

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Response by 300_mercer
over 5 years ago
Posts: 10570
Member since: Feb 2007

https://streeteasy.com/closing/10663956

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Response by George
over 5 years ago
Posts: 1327
Member since: Jul 2017

I've also seen a situation where a buyer didn't get what was promised. To resolve a lawsuit, the sponsor bought back the buyer's unit and sold him a different one.

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Response by inonada
over 5 years ago
Posts: 7952
Member since: Oct 2008

Ah, thanks. Perhaps some dispute resolution was happening here too? The sale to the sponsor was at a 2017-level price but the sale from the sponsor was at a 2019-level price (at least compared to what how the sponsor had originally priced them).

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