THE CHASTLETON

Success

• 300 sold units in worst part of downturn
• 100% loans approved and buyers financed in tumultuous mortgage market

Strategy

• Carefully release the correct number and type of units to create scarcity and urgency
• Offer a large variety of financing programs including developer held seconds and portfolio loans

Challenge

• Creating sales pace with the large number of units in 2008
• Having financing options for first time buyers with limited credit and down payment
• Building had coop ownership structure in a market that is 90+% condo ownership