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NYMag: “NYC Real-Estate Developer Offers ‘Obama Contingency’”

New York Magazine:

Holy election tie-in: Erik Ekstein, who’s developing +aRT, an 88-unit Chelsea condo that just began sales last week, says he’s including an “Obama Contingency Clause” in all contracts that go into effect between now and Election Day. If Obama wins, the contract goes through, but if John McCain prevails, buyers can back out — and presumably move to Canada — “with no questions asked.” (He says he came up with the idea after talking to potential buyers, who seemed to be holding off until the election.) Ekstein, a big supporter of the Democratic candidate, says he’s not worried he’ll lose business. “It’s a very narrow window, and we’re fairly confident he’ll win,” he says.

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  • 9 comments

    9 Comments so far

    1. Geno Petro October 30th, 2008 11:19 am

      As usual. Different rules for different folks.

    2. Greg Swann October 30th, 2008 11:32 am

      > Different rules for different folks.

      Sales is the art of taking away objections. If it matters, it matters, but the commitment of action says that if I can get the check today, I should.

    3. Sean Purcell October 30th, 2008 12:04 pm

      God Bless people who allow their political wishes to confound their economic reasoning. A fool and his money are soon parted.

    4. Eric Bramlett October 30th, 2008 12:17 pm

      As a sales tactic, I think this is fantastic. My first inclination is that he should remove all presidential barriers and allow clauses for both parties. However, New York being New York, this got him the publicity, which is what it’s all about.

      Great viral marketing!!!

    5. Bob October 30th, 2008 1:31 pm

      He knows that is just another empty threat.

      After all, Alec Baldwin and Whoopi Goldberg have stayed here for 8 years after promising to leave in 2000.

    6. Geno Petro October 30th, 2008 3:11 pm

      GS,

      So true. And the best way to overcome one (objection) is to anticipate it to begin with.

    7. Robert Kerr October 31st, 2008 2:41 am

      Clever marketing!

      I disagree with Geno; it’s the same rules for all folks.

    8. Brian Brady October 31st, 2008 7:37 am

      I agree with Robert on this. That wouldn’t fly in San Diego or Dallas but it will be praised in San Fran or Manhattan.

      We always say that a “guarantee” is helpful when selling things. This developer’s guarantee panders to his market’s political persuasion.

      How many conservative Republicans, who will naturally be turned off by his “guarantee”, do you think might be buying a Chelsea condo?

    9. J Boyer Chatham NJ October 31st, 2008 8:10 pm

      “How many conservative Republicans, who will naturally be turned off by his “guarantee”, do you think might be buying a Chelsea condo?”

      Not a one Brian, Not a one. Chelsea, is well known as a heavily Gay influenced area. The W crowd would not be very comfortable there.