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135 East 79th's First Resale Wants $6M Profit After Five Weeks

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The condos in the Brodsky Organization's 135 East 79th Street flew off the shelves as soon as they hit the market last year, with 24 of the 29 units getting snapped up immediately based on floorplans alone. So, it's difficult to fault convenience store fortune chain Gerald Erickson Jr. for trying to make a quick profit on the sponsor unit that he bought in the building for $11.85 million. It's less difficult to fault the amount of profit he's seeking, though, as he has re-listed the apartment for $18.5 million five weeks after his purchase closed.

Erickson's unit, a "townhouse-style" maisonette, was originally intended as two separate units, according to Brick Underground. He worked with the Brodsky Organization during construction to combine them, and actually signed the contract in October of 2012. As a result, he was able to get it for a "pre-construction price." All that explains the huge price increase in a deceptively short amount of time, but it still remains to be seen how much Erickson actually gets for the place. As Brick Underground points out, a 26 percent smaller penthouse in the building is also on the market for the same amount, so the $18.5 million price tag might not even be that out of line.

· Flip or Flop [Brick Underground]
· Listing: 135 East 79th Street #MW [Stribling]
· 135 East 79th Street coverage [Curbed]

135 East 79th Street

135 East 79th Street, New York, NY