Royce Pinkwater, founder of the real estate investment brokerage company Pinkwater Select, described one Manhattan combination she orchestrated last spring as “the most complicated deal I’ve ever done in my career.” For clients who wanted to expand their three-bedroom Upper West Side apartment, she hired an investigator to find the contact information for the owners of the two-bedroom apartment directly below theirs. To convince the neighbors, an elderly couple, to sell, she had to find them another apartment in the building and offer them $6.5 million, about 20% over market, for their unit. Then after the closing, her clients had to wait months for the couple to renovate their new apartment before moving out.
After all that, Ms. Pinkwater’s clients changed their minds, and both units are now on the market for a total of $19.25 million.
Read the full article at The Wall Street Journal.