A $10.4M Sale. Built on Trust and Strategy.

A prominent family office based in Hong Kong had been trying to sell their New York residence at 10 Madison Square West for well over two years. A well-known luxury brokerage had held the listing through multiple price adjustments and two failed contract attempts, yet the apartment sat. The property was exceptional, a 2,527 sq ft corner residence on the 19th floor with direct Madison Square Park frontage, 11-foot ceilings throughout, and interiors by Alan Wanzenberg, but the market had lost confidence in the positioning, and the seller had lost confidence in the process.

Through a trusted contact, the family office was introduced to Undivided to engage as a joint-venture listing partner. The mandate was clear: stop the bleed, reposition the asset, and close. The challenge wasn't the apartment. It was rebuilding momentum for a listing that the market had already passed judgment on — and doing so without lowering the price to a level that didn't reflect the property's actual value.

The prior listing had been marketed the way most luxury properties are marketed in New York: professional photography, broad portal exposure, and the assumption that the address would carry the story. It didn't. The apartment's finest qualities- its scale, its park views, its corner exposures on three sides, were being communicated in a way that felt flat relative to the property itself.

Undivided approached the relisting as a repositioning assignment, not a listing refresh.

What we changed:

• A full restaging with dramatic, editorial-quality photography designed to convey the emotional weight of the views and the proportion of the rooms, not just document them.
• Revised narrative positioning that centered the apartment's scarcity profile: a corner layout with West, North, and East exposures in a landmarked pre-war conversion, irreplaceable at this price in this location.
• Targeted outreach to the buyer segment most likely to understand and pay for the asset: finance, technology, and consulting professionals already active in the Flatiron submarket.
• Expert showing management that treated each showing as a high-stakes presentation, not a walkthrough.
• A clear pricing thesis anchored to the specific value drivers of Unit 19C, not just the building average.

The goal was to create a new market moment, not paper over the old one.

High-value listings that have previously failed don't simply benefit from a lower asking price. They need a repositioned market narrative. The prior campaigns had created buyer hesitation through repeated reductions and stale presentation; each reduction had actually weakened perceived value rather than generating new interest.

What we evaluated:

• A full comp review of closed Flatiron condo sales in the 3-bedroom tier over the preceding 24 months, weighted specifically for corner exposures, floor height, and direct park frontage.
• An analysis of why earlier offers had failed to convert, to distinguish pricing issues from presentation and trust issues.
• The absorption rate for comparable product in the building itself and across Madison Square Park-fronting addresses.
• Days-on-market patterns relative to listing price reductions, to establish the cleanest entry point for a re-launch.

The conclusion: the value was defensible. The deficit was in how the property had been presented and who it had been presented to. We launched at $11,000,000 with a repositioned campaign and a specific buyer profile in mind.

Pricing Analysis

Undivided managed every element of the sales process with the same discipline that had informed the repositioning. For a property at this price point, the showing experience is inseparable from the sales strategy. Buyers considering a $10M+ purchase are evaluating the advisor as much as the apartment.

How we executed:

• Structured showing protocols designed to present the space at its best: correct time of day for light, pre-briefed agents, curated materials that reinforced the investment thesis alongside the lifestyle experience.
• Proactive engagement with the most qualified buyer pool, including buyers who had previously viewed comparable properties but not transacted.
• Full advisory support through offer evaluation, comparative analysis, and negotiation, working directly with the family office's representatives to keep the process transparent and controlled.
• Active management of both offer processes simultaneously, using competitive dynamics to protect price and close terms.

Within the first month of the repositioned listing, we had received two offers. The transaction closed on June 24, 2022 at $10,400,000, making it the highest recorded sale price in the building that year.

The Building's Highest Sale of 2022

The result validated both the repositioning thesis and the execution strategy.

• $10,400,000 recorded sale price, verified by closing records.
• Two offers received within the first month of the repositioned campaign.
• #1 sale price in the building for calendar year 2022.
• A listing that had stalled for over two years under prior representation sold within weeks under Undivided's management.

The family office's referral partner, the Hong Kong contact who had trusted us with the introduction, was equally satisfied. That referral relationship remains one we continue to honor.

The property was never the problem. The highest-sale-in-building result confirmed what the asset always was: a genuinely scarce corner residence with irreplaceable park frontage, pre-war provenance, and a buyer profile that needed to be found and converted, not simply waited on.

Selling a luxury property that has lost market momentum requires a different kind of advisor. One who can assess what actually went wrong, build a credible repositioning case, execute with precision, and manage a sophisticated client relationship across time zones and through a family office structure. That is the work Undivided does.