107 Pierce Road, Clifton Park, NY
SALE
Summary
In 2018, PVC Associates sold their window manufacturing business to Vinylmax and retained the real estate. The ownership group identified a desire to sell the building in 2021 as the existing lease was reaching expiration. After listing property Culberson produced 3 competing offers within 2 weeks of listing the property. The final selling price was within 95% of the listing price. Culberson was able to successfully negotiate a closing before year end and potential increases associated with income tax law revisions.
Deal Size: $4,050,000 for 79,625 sf or $51 p/sf
Seller: PVC Associates
Buyer: Redstone (investor)
Situation
Quickly sell the property as lease expiration was approaching.
Strategy
Commence an intense marketing blitz to attempt to garner offers quicly.
Result
The property had multiple offers and sold within 95% of asking price in a compressed marketing period.