212 Fifth Avenue Case Study

SITUATION AT HAND

  • In the winter of 2017, 212 Fifth Avenue was approximately 37% sold and Madison Equities hired The Field Team at Sotheby’s International Realty as the project’s exclusive sales and marketing firm. At this time, the project was in need of re-positioning and the developer already spent the majority of the marketing budget.


ACTIONS

  • Refreshed marketing material and refined core positioning points 
  • Corrected pricing and negotiated several strong deals to set a favorable PPSF benchmark for both the building and the NoMad neighborhood 
  • Granted global exposure through our listing system, website, social media channels, media placements, international events and top broker events (took away the list line about hosing the WSJ Broker event – feels like it goes together with this instead of just calling the WSJ out)
  • Secured several high profile staging and art gallery partners to provide notable artwork and furniture 
  • Assembled a strong list of brand partners for cross-marketing initiatives and high-profile events including Bloomberg Media, La Prairie, Chamber Music and more


RESULTS

  • Project is 100% sold at $3,326 PPSF, within 3% of asking price, and has maintained strong prestige over the duration of the sales cycle 
  • A new benchmark for excellence was set in the NoMad neighborhood as discerning uptown buyers felt secure buying in this project at record prices. 
  • 1st Place in National Best City Sales of 2019 Luxury Connect Awards

The Field Team Advantage

The Field Team Advantage consists of 22 experienced professionals, each with general market strength as well as a mastery of a specific area. Clients benefit from the knowledge and experience of the entire team.

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