REBNY 'deal of the year' goes to nancy candib

Real Estate Weekly, Nov 7, 2001

The Real Estate Board of New York, in a ceremony held on Oct. 22 announced that Nancy Candib received the award for "Deal of The Year," after closing an innovative transaction that involved the sale of two multifamily apartment buildings on Park Avenue.

The prestigious award for Deal of The Year revolved around the sale of two buildings located on Park Avenue. Both buildings were in considerable states of disrepair.

The buildings - both 4-story, one with an elevator and the other a walk up -needed gut renovation. Tenants in place presented additional considerations. One of the buildings partially collapsed one week before the adjoining building was scheduled to close.

Candib structured a creative plan to sell both buildings. As an integral part of the eventual sale of both buildings, she was able to negotiate an air rights transaction with two adjoining cooperative apartment buildings. The air rights purchase by the coops insured them that any new development would not rise above the roof of either of the two buildings. The sale also enabled Candib to more realistically price the Park Avenue buildings.

Candib has been a broker at Brown Harris Stevens for over ten years. She is one of the firm's top brokers and in both 1996 and 1998 sold the highest priced one-family townhouses in New York City. The transaction in 1998 was the firm's biggest individual deal that year. Candib resides on the Upper East Side and is a graduate of Brandeis University and holds a master's degree from Boston University.