Suburban Oaks
Success Story
Jack Studnicky

Suburban Oaks, the high rise at 7 Slade Ave., in Pikesville, was beset with management problems. The building had originally been a rental unit and was then changed to a condominium, but in a manner that created massive resentment. The problems fell right into the lap of the Chase Manhattan Bank in New York who had been forced to foreclose on the mortgage. How to solve them and turn the project around?

Enter a remarkable salesman and management consultant, named Jack Studnicky, formerly of Southern California, now based in Washington. Retained by the bank, he arrived in Baltimore and moved into the Suburban Oaks Sales Office on Monday, June 7. By Friday afternoon, June 11th, new contract forms for sales were delivered to the office.
Within just 48 hours, by late Sunday afternoon, 22 new units had been sold. By the early afternoon of Friday, June 18th, Studnicky and his salesmen had completed 36 sales with just 30 to go. These were not merely promises to buy. These were signed contracts with deposits. And as of July 13, only four units remain to be sold.
Part of the “secret” of Studnicky’s success was to get the present owners so excited about their own residence that they began “selling” their friends on buying into the building.

“Of course we gave them incentives,” Studnicky said, “but there was much more to it than that. We changed the whole atmosphere around, and in doing this I had the whole-hearted support of the residents’ Board of Directors and, eventually, all the other owners as well.”

Jack Studnicky has recovered many and varied real estate projects in the past for a wide variety of clients, and this is his second for Chase Manhattan.