Kennedy Wilson Thriving on opportunity

The Mercury

The Mercury is a 22-story luxury condominium tower located at the epicenter of the Koreatown submarket and was acquired by Kennedy Wilson in June of 2009.  Prior ownership was successful in selling 89 of the residences over a four year period but still had a balance of 149 units unsold.  Kennedy Wilson relaunched the project with a new sales and marketing campaign after determining prices that were market appropriate.  As a result, all remaining units were successfully sold during the 32-week campaign.  The unprecedented sales velocity made The Mercury known as a case study on sales and pricing positioning for conventional sales turnaround programs in the current market.