Insights From The Real Deal

Real estate developer Africa Israel USA made major investments in residential conversion projects during the boom years. Two of its Downtown condominium projects, 111 Fulton Street and 20 Pine Street, hit successful milestones last month, but serious challenges remain for two others, the Upper West Side's Apthorp and the Clock Tower, formerly the Metropolitan Life headquarters at 5 Madison Avenue. This week, Lori Ordover, a sales and marketing consultant to Africa Israel, talks to Insights from The Real Deal about how the company cut prices by as much as 30 percent to attract sales at 20 Pine Street, where prices ranged from a low of $666 per foot in 2009 to more than $1,000 per foot recently.