In real estate listings, terms like "motivated seller" and "priced to sell" are often used to attract buyers, but they signal different selling strategies and opportunities.
A "priced to sell" property is typically listed below comparable market value to generate immediate interest and encourage multiple offers, particularly in competitive markets like New York City. In many cases, these listings reflect recent price reductions or a seller who has adjusted expectations after limited activity. The blog Homeownering notes that this strategy can spark bidding wars in a hot market, while in a slower market it may simply help a home sell more quickly, though often at a lower final price.
A "motivated seller," on the other hand, is someone eager to complete a sale because of personal or financial circumstances. They may be relocating, carrying two homes, facing rising carrying costs, settling an estate, or looking to offload a property that needs work. Rather than pricing aggressively from the outset, these sellers are often more willing to negotiate on price or offer concessions such as covering closing costs, paying transfer taxes, or leaving behind furnishings.
For buyers, understanding why a seller is motivated can provide valuable leverage during negotiations. The Balance advises asking what is driving the sale before making an offer. Some sellers have already purchased another home, others are facing unexpected expenses, while some are simply ready to move on after a property has lingered on the market.
A "priced to sell" property is typically listed below comparable market value to generate immediate interest and encourage multiple offers, particularly in competitive markets like New York City. In many cases, these listings reflect recent price reductions or a seller who has adjusted expectations after limited activity. The blog Homeownering notes that this strategy can spark bidding wars in a hot market, while in a slower market it may simply help a home sell more quickly, though often at a lower final price.
A "motivated seller," on the other hand, is someone eager to complete a sale because of personal or financial circumstances. They may be relocating, carrying two homes, facing rising carrying costs, settling an estate, or looking to offload a property that needs work. Rather than pricing aggressively from the outset, these sellers are often more willing to negotiate on price or offer concessions such as covering closing costs, paying transfer taxes, or leaving behind furnishings.
For buyers, understanding why a seller is motivated can provide valuable leverage during negotiations. The Balance advises asking what is driving the sale before making an offer. Some sellers have already purchased another home, others are facing unexpected expenses, while some are simply ready to move on after a property has lingered on the market.
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In some cases, sellers looking for a quick and definitive sale bypass the traditional listing process altogether and opt for an auction, where a competitive bidding window can establish market value in a matter of days.
One notable example is the penthouse atop the landmarked Sohmer Piano Building at 170 Fifth Avenue. Listed for $14.9 million, the residence is currently being offered through Concierge Auctions, with bidding already above $8.25 million and culminating live at Sotheby's New York on July 29. While the sale isn't driven by financial necessity, all proceeds will benefit the Gorongosa Project, a conservation and community development initiative in Mozambique. This tactic shows how an auction can create urgency and attract serious buyers, even for one of Downtown's most distinctive penthouses.
The Sohmer Piano Building, #PH
$8,250,000 (-67%)
Flatiron/Union Square | Condominium | 5 Bedrooms, Unknown Baths | 5,777 ft2
The Sohmer Piano Building, #PH (Sothebys International Realty)
"This is the type of trophy asset that transcends traditional luxury real estate,” said Chad Roffers, CEO and Co-Founder of Concierge Auctions. “Positioned atop one of Manhattan's most iconic landmark buildings with panoramic views of the city's skyline on prestigious Fifth Avenue, the residence offers a level of rarity and provenance that resonates with collectors and discerning buyers worldwide."
Below, we've rounded up apartments marketed as either "priced to sell" or offered by "motivated sellers," highlighting listings that could present opportunities for buyers looking to negotiate or find relative value.
Featured Listings with "Motivated Sellers"
Phillip Howard Building, #C1909 (Compass)
The Savoy West, #4B (Compass)
Castle Village, #63 (Corcoran Group)
Concord Village, #6E (Compass)
Greenwich Club, #526 (Corcoran Group)
Turtle Bay Towers, #18G (Serhant)
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Downtown Club, #11F (Weichert Properties)
59 Pineapple Street, #6A (Corcoran Group)
The Orion, #15H (Sothebys International Realty)
Spruce Ridge House, #12J (Brown Harris Stevens Residential Sales LLC)
Castle Village, #118 (Compass)
Sutton55, #8H (Sothebys International Realty)
142 East 37th Street, #4 (Nestapple Inc)
Magnolia Mansion Lofts, #5C (Coldwell Banker Warburg)
Southgate, #2A
$850,000 (-10.5%)
Beekman/Sutton Place | Cooperative | 2 Bedrooms, 2 Baths | 1,285 ft2
Southgate, #2A (Sothebys International Realty)
Yorkville Tower 1, #31C (Compass)
Newport East, #B1102 (ALTA Real Estate)
577 Madison Street, #4B
$999,999 (-4.8%)
Bedford-Stuyvesant | Condominium | 2 Bedrooms, 2 Baths | 1,128 ft2
577 Madison Street, #4B (Compass)
The Albert, #3D (Corcoran Group)
216 Calyer Street, #5A (Douglas Elliman Real Estate)
Windsor Park, #12F (Douglas Elliman Real Estate)
51 Jay Street, #5O (Compass)
216 East 75th Street, #1W-2W
$2,395,000 (-4%)
Lenox Hill | Condominium | 3 Bedrooms, 3 Baths | 2,000 ft2
216 East 75th Street, #1W-2W (R New York)
152 West 58th Street, #PH8 (Douglas Elliman Real Estate)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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