David: This Deal Took Some Creativity
David explains how "thinking outside the box" landed the Brits their deal.
Working with a developer is a unique experience, as they often have specific criteria for their building needs. In this case, Jay had an equation for purchase price ($10 million), development ($10 million), and sale ($30 million). We had our work cut out for us and it was so important to succeed and secure future business. Given the low inventory climate, delivering the perfect property to Jay took some creativity and thinking outside the box, aka our office. And getting out of the office was just the thing to grant us clarity and a fresh perspective… nothing like a game of Words With Friends to reset the imagination!
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Consulting an architect, in this case Russell Shubin, proved to be paramount in presenting Bellagio to Jay, which is in a premiere location and has panoramic city views. The lot sits on a promontory above the Bel Air golf course. Next, it was all about making a deal. Negotiating Russell’s offer took finesse, but I tried not to break a sweat. I thrive under pressure. Even when I learned that there was a $9 million offer, it didn’t deter me. #BondStPartners are experts and have enough experience to know there is always an opportunity for a deal to be made. In this instance, timeframe and proof of funds talked over price, and we were able to put a smile on Jay’s face. With Bellagio, we delivered him a new formula: purchase price, ($8.7 million), development ($10 million), and sale ($40-50 million).
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