Parc Village
44 East 12th Street, NYC (1986)
12 Story 44 Unit Turn-key Condominium
Torresco Realty was engaged as exclusive broker to sell a uniquely formulated “turn-key” development site which would emerge from vacant land, passive investment and a landmark zoning decision. Our client was not only the owner of the parcel but a formidable developer who had achieved an improbable zoning variance within the “Village” historic district. Torresco then successfully located an investment consortium which entered into a contract of sale based on the owners ability to deliver a fully featured and finished 44 unit condominium. The contract of sale which signed in 1985 took approximately twelve months to close. Three stages of construction benchmarked the three phase payment for the acquisition which finalized upon delivery of the finished 10 story “turn-key”. Torresco Realty LLC was the sole broker in this transaction.
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