A real estate brokerage that originally specialized in selling new condos is moving its office from RiNo to the Union Station neighborhood.
Iconique Real Estate, founded in 2019 by Susan Chong, is moving from 3149 Blake St. to 1738 Wynkoop St.
“Because our business is so urban and downtown-based, we want to find our place back in that space and help activate it and be closer to a lot of the communities we serve,” Director of Operations Stacey Zynen said.
The move puts Iconique close to the firm’s biggest source of business, The Coloradan condo complex. The company, which represents both sellers and buyers, sold 10 units at the luxury condo complex from 2020 to 2022, including the building’s top sale of $3.75 million, according to Chong. Before that, Chong was the original listing agent on 100 of the building’s units while working for Slifer, Smith and Frampton.
Iconique’s new 1,700-square-foot space is double the size of its RiNo location and will allow the firm to host events, Chong said. The company expects to be moved in by May 1.
Chong founded Iconique intending to largely act as the listing broker for new condo projects, but that hasn’t been as large a market as she’d hoped, as some planned condo projects have gone the apartment route instead. Iconique was slated to be the broker for Flora in RiNo, for instance, but the development team behind the project announced in 2021 the units would be rented instead.
“For me, my heart is always in building new construction for sale,” Chong said. “I truly believe that we need to build more in order to provide opportunities for people to buy something on the entry level, invest in real estate, have something for long-term wealth gain and have something for retirement.”
Due to the dearth of condo projects, Iconique has expanded into condo resales, leasing and townhome sales. The firm has resold nine units at the Spire condo complex downtown, and is leasing the Avere On the High Line project.
Chong has been in the real estate business for 21 years. She said the local condo market was at its lowest from 2007 to 2011 and peaked in 2018 to 2019. Right now, Chong said the market is unstable as the future economy remains “uncertain.”
“The market is stifled,” Chong said. “Generally, it is not a great time to sell so we are advising sellers to lease if selling is not necessary. Unless you are willing to sell at an undesirable price or you have a very unique property, I recommend holding off.”