Page 71 of The October Arrangement

“When the hell did that happen?”

“Gradually. But over the past month, it completely stalled.”

“What about showings?” I asked.

“Same problem, son.”

Something wasn’t adding up. We had one of the best locations in Tribeca, and the building itself was exceptional.

“Is it the prices?” I asked.

“That’s what I thought at first, so we ran comps again. We’re competitive.”

“Okay.” I tossed the report on the table. “What are potential buyers saying?”

“That’s part of the problem. They aren’t saying much of anything.”

“I don’t understand. What the hell does that mean?”

“They tour. They complement the finishes, and they love the amenities. They ask a few questions, leave, and then we don’t hear from them again.”

“Are they buying somewhere else?” I asked.

“Some of them are.”

“Where?” I asked.

“Stuart Development and Norris Development,” he replied.

“I’ve seen both.” I frowned. “Ours is way better. We have better layouts, better amenities, and better views.”

“I know that, son.”

“Then why the fuck are they buying there instead of Montclair?”

“If I knew the answer, I wouldn’t be sitting in your office.”

I stood, tucked my hands into my pants pockets, and walked over to the window. This was the part of development I hated the most. You could research everything, from location and demographics to pricing, competition, and design. You could spend years developing a property based on every available piece of data, and sometimes the market still said no. There was always a reason.

“What does marketing say?” I turned and looked at my father.

“That we need to increase digital spend.”

“Of course,” I sighed. “That’s their answer to everything. How much are we spending now?”

“Too much for one sale this month.”

“What about our socials?” I asked.

“Engagement is way down,” he said.

“What about the emails we send?”

“The open rates are decent, but they’re not generating much interest and definitely no appointments.”

I brought my hand up and rubbed my jaw. “So people are seeing it? Our posts and the ads?”

“Yes. They’re just not responding.”