4 Percent Is The New 3 Percent

NV-Williamsburg-0109.jpgAt new developments, anyway. According to The Real Deal, developers with a lot of units to move have been sweetening the deal for brokers by increasing the standard 3 percent commission to 4 percent, or even 5 percent. “It’s the norm for buildings that were undersold when the crisis hit,” said Michael Signet, of Bond New York. Both the Belltel Lofts in Downtown Brooklyn (which is now about 50 percent sold) and NV in Williamsburg have upped the ante so far.

By Brownstoner |