(ABOVE) Kelly Kennedy Mack, President

Spring fling heats up sales

May 25, 2011

Corcoran Sunshine Marketing Group announced the sales results of its Spring Open House Weekend, an event spanning 15 residential developments in Manhattan.

In the four weeks following the event, 12 offers were accepted. This is the highest number of deals in the history of the event, totaling $22,285,000 in new development inventory.

With more than 1,500 visitors, Spring Open House was also the company’s best-attended on record. Corcoran Sunshine’s Open House Weekend has been held biannually since 2008. Properties are open all weekend with extended hours and no appointments necessary.

“The record number of deals to come out of Open House Weekend is a sign of an improved market,” said Kelly Kennedy Mack, President of Corcoran Sunshine.

“With little product being introduced, we are seeing a clear decline in Manhattan’s supply of new development. Buyers are concerned about future availability and are acting with a sense of urgency that we haven’t seen in a few years.”

Larry Kruysman, director of sales at The Aldyn, believes that the momentum of the weekend furthered the sale of a condominium priced at over $4 million.

“The buyer had flown in from the West Coast and their visit coincided with Open House Weekend,” said Kruysman.

“There were a number of other groups showing interest in the same residence, and I have no doubt that the competition influenced their timing. They made an offer the next day and were in contract four days later.”