So you heard me complain, and cry, and moan that my clients missed out on unit 33D at the St. Regis. Well, now it’s back on the market, still $3,695,000, still spectacular, and still available. The buyer, which just so happened to be represented by the seller’s agent as well, has walked (the wife claiming the space just didn’t work).
My clients have determined that they aren’t quite sure South of Market is happening enough to purchase at the St. Regis, claiming it to be a bit “dead”, and now 33D awaits the next person looking for an A+ unit with spectacular views, floor to ceiling windows, an outdoor terrace, and a great floorplan. Comps will quickly point to unit 23D selling at $3.3M, but I’d like to point out that was an off-market deal and the buyer and seller were represented by the same agent (think not necessarily market price). So now that the dust has settled, 27D (at $3,475,000) and 33D (at $3,695,000) are both available, things could get interesting.
There is still one other unit “available”, but not yet on the market in the “F” stack, should you be interested.
–188 Minna #33D [Pacific Union Listing, $3,695,000]
–188 Minna #27D [listing detail $3,475,000]
The moral of the story:
if you are the seller’s agent, dont p** off potential buyers because you NEVER know when you’ll need BACKUP OFFERS.
BTW. I remember a couple of listings with somethjng like “offer under review – accepting backup offers”.
Any thought on that? ethics? honesty? marketing thoughts?
is this such an unacceptable insult to the potential buye’s offer? or is this honorable legwork for the benefit of the seller?
honorable legwork for the benefit of the seller
How could it be anything but this? Buyers are liars.
It will just make the current buyer work harder to get their papers straight and talk to the lender more to get their loan, if they really want the house. If I were a seller, I definitely would want to see my agent do this.
BTW It’s an understatement to say “South of Market is a bit ‘dead'”
Reminds me of French Quarter in New Orleans. Bourbon, Royal, Chartres, Decatur, etc., are great at night with lots going on, but if you walk on the streets perpendicular to those above in the same area, it actually felt a bit spooky.
this buyer sounds like the tier z venture capitalist that walked from the unsolicited offer he made on my place last summer.
lame!