After executing a successful marketing campaign, IPG Real Estate swiftly sold a Lefferts Garden development site within the timeline of the client. Sold as a distressed asset, the dirt lot is located in a Brooklyn neighborhood described by some as “trendy.” The site is situated in the midst of millenial residents and a vibrant Orthodox Jewish community.
With the goal of getting interested buyers to the courthouse auction where the sale took place, IPG Real Estate implemented effective strategies to attract qualified prospects.
“During the marketing campaign, we monitored Mayor DiBalsio’s affordable housing slant. We knew he would push through legislation to change zoning laws, and we promoted his position to all potential buyers, ” said George Donohue of IPG Real Estate. “IPG closely monitors real estate laws coming out of the Mayor’s office.”
According to Donohue, speed and discretion were necessary. IPG Real Estate conducted two campaigns with the goal of getting all interested buyers to the courthouse. The address of the site is 490 Lefferts Avenue and the final pricetag was above market vaue at 3.5M.