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5 Things You Didn’t See on this Week’s ‘Selling New York’

18 January, 2013 posted by: CORE

HGTV’s “Selling New York” follows CORE agents as they navigate the country’s most competitive—and compelling—real estate market. Here’s our behind-the-scenes look at Episode #608, which first aired on January 17, 2013. For more SNY recaps, click here.

DSC_0200

In SNY episode #608 entitled “Slide Show,” Elizabeth Kee and Lindsee Silverstein team up to list a penthouse in the “A Building” at 425 East 13th Street. The seller is a young, world class poker player who has taken his bachelor pad up a notch with a sculptural slide that combines two penthouse apartments. This listing is a true game changer with a sprawling floor plan, multiple private outdoor spaces and a game/media room. Combined with a double height atrium and floor-to-ceiling windows which offer open city views, this penthouse with a slide is a truly a unique dream home.

After 15 other potential agents were interviewed, Elizabeth and Lindsee were selected to list this unique property because of their candor about the face-lift needed to achieve the seller’s ambitious asking price. Also, their creative ways offered to market the apartment without removal of the slide (as most other agents suggested) sealed the deal. With the slide remaining, these resourceful agents were able to lose the frat house feel and upgrade the property to emulate a sleek home – perfect for entertaining.

Part of the customized marketing plan included an influencer’s event, which targeted young, influential industry gurus, who this listing would appeal to.  The catered event with a noted local mixologist, renowned spin artist, and prominent sommelier added to the event’s huge success.

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What’s New: FlatIron Flair

16 January, 2013 posted by: CORE

49 East 21st Street 5C
Where: 49 East 21st Street, 5C
Size: 2-bedrooms, 2-bathrooms
Asking: $1,995,000
Listed by: Tom Postilio and Mickey Conlon
Located in a neighborhood that recently became one of the most popular destinations in Manhattan, this 2-bedroom, 2-bathroom home is located in the heart of the Flatiron. In addition to its ideal layout boasting an entertaining space with open kitchen and separate dining area , the finishes – including lighting by designer Jonathan Adler – make us ready to sign on the dotted line. Additional details include wide-plank African Oak floors, lofty 11-foot ceiling heights, oversize windows and lava stone kitchen counters which combine to make this apartment dramatic and elegant.
Check out the floor plan below:
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Jarrod Guy Randolph on the Art of New Development: Part 2

15 January, 2013 posted by: CORE

141 Fifth AvenueIn my previous post, I went into detail on the basics of new development in New York City. With the basic information provided, here are some suggestions on how to put that information and knowledge to good use.

When to buy
There are two types of buyers in new development: investors and end users. If you are an investor, the best thing for you to do is work with a highly specialized broker who can get you in on the ground floor of a new development. For end users, any time is a good time to buy as you should look at the purchase from a long term perspective. In fact, the most important aspect for an end user is quality of life, so picking the right unit is much more important. Again, you need to be guided by an expert as you are typically buying off of floorplans and may not physically see the property before committing to it. Read the rest of this entry »



 

CORE in the News

14 January, 2013 posted by: CORE

A sampling of last week’s press coverage of CORE and CORE properties.

303-East-77th-Street-PH 08

“Checking in on Rising 241 Fifth Avenue Condo Building”

Curbed

CORE’s new development, 241 Fifth Avenue, grabbed attention as construction resumed.

“Planet Dearth: Manhattan Condos Are More Hard to Come By Than Ever As Inventory Hits All-Time Low”

New York Daily News

The number of condos for sale in Manhattan is at an all-time low making this a prime time for sellers. Jarrod Randolph comments on the state of the market and his recent penthouse sale at the Isis Building.



 

Photo of the Week: Soho Sunset

11 January, 2013 posted by: CORE

photo

Nothing conveys the promise of a New Year like a heavenly sunset. Here in New York City we are blessed to have our sunsets reflected 1,000 times over in our glass-covered skyscrapers. Today’s photo was taken by David Beare on the rooftop of a building on Canal Street overlooking the garden at Soho Mews.



 

A Day in the Life of Shaun Osher

10 January, 2013 posted by: CORE

Ever wonder what it’s really like to run a real estate brokerage in New York City? Our fearless CEO was the subject of The Real Deal’s “Day in the Life” profile in their January issue:

A Day in the Life of: Shaun Osher

The CORE CEO walks TRD through a typical day, as he bikes up to 75 miles, juggles pricey listings and plays the sax

6:30 a.m. I usually wake up at 6:30. Half the week I stay in Port Washington, on Long Island. That’s where my two beautiful daughters live. The days when I don’t have my girls, I’m on West 9th Street, where I share a townhouse with my girlfriend, Brittley Jarrell, who is the chief operating officer of Core. I’ve always been very active — I work out about four or five times a week. It’s usually a bike ride, between 20 to 75 miles [before work], and it’s usually loops in Central Park. Today, I ran seven miles along the Hudson. I also try to meet with my trainer once a week, to do push-ups, pull-ups, the rowing machine and rope-climbing, like back in my army days in South Africa. I was in the army for two years. There was six months of basic training, which was brutal. I was living in the bush, crazy stuff.           Shaun TRD

7:30 a.m. When I stay on Long Island, I take my daughters to school. Then I go home and start checking emails on my iPhone. There’s a 9:11 train that I usually take into the city. When I’m here, I will help Brittley take her boys to school. Then I will hop in the shower and do my emails from the apartment.

10:00 a.m. to noon Most mornings, I’m in the office by 10. Today, I had a conference call with the sales team at 93 Worth, a 92-unit condo conversion in Tribeca. Sales started in early December, and more than a dozen contracts have been signed already. Whenever you open a building, you have nearly constant engagement with the sales team and the developer. The first two weeks are very intense.

But it’s a good problem to have. I spend about 15 to 20 percent of my time working on new business, which means meeting with new agents. We have about 70 employees, and we have two offices. We’re opening a third one, on the Upper East Side [at 673 Madison Avenue], in mid-February. It will be a showroom and will house 30 agents.

Noon I don’t really do lunch meetings because they’re long, and I only have so many hours in the day. So, I usually eat on the run or get something in the office. A turkey sandwich, that’s usually my go-to, but I pretty much eat anything. Last Wednesday I had a meeting at noon with Michael Stern, managing partner of JDS Development Group, which is building Walker Tower, a 53-unit condo. We met at the sales office in Chelsea. The project is going well. We’ve sold a significant amount. [StreetEasy shows that 40 percent of the building has sold.]

2:00 p.m. to 5:00 p.m. Sometimes I will drop by our office on Seventh Avenue to check in, and an agent will pull me aside to ask about a deal. For example, Emily Beare needed advice on a $95 million listing she has at 15 Central Park West. We have property lists of people who are really affluent, so we reach out and let them know the unit is available. Emily also represented the seller, Leroy Schecter, in his purchase of the Rothschild Mansion on the Upper East Side for $25 million. I pulled some comps together and helped with the negotiation.

5:00 p.m. If I have my girls, I’m heading home to be with them. I am very involved with their after-school activities, so I will take Ava [who is 11] to tennis and pick up Ella [who is 6] from dancing. I love to cook — maybe some chicken, or pasta, though my recipes are expanding. And Ava likes to bake, so once a week after dinner, we’re baking.

6:00 p.m. to 8:00 p.m. If I’m in the city, I will go home and play sax for a while. I keep a tenor sax in Manhattan; my two altos are on Long Island. I keep my soprano sax here [at Core’s headquarters, at Fifth Avenue and 16th Street] and sometimes I play at night when nobody is around. The acoustics are really good in here. I played the sax in jazz bands — I played at the Blue Note, the Cupping Room Café and the Village Gate before it became a CVS. Every once in a while I will still go to see jazz, like at the Village Vanguard.

8:00 p.m. to 10:00 p.m. I skip the charity events; I usually just write a check. So we will have dinner in the apartment or go out to Tertulia, on Sixth Avenue, or Alta, on 10th Street. I don’t watch much TV — maybe Monday Night Football, or the Tour de France, or some cricket if it’s on. I also read a lot. I just finished “King Leopold’s Ghost,” about North Africa and the Belgian Congo. I also like GQ and Vanity Fair. And Seth Godin’s blog, about marketing, but I don’t really focus on real estate too much.

10 p.m. onward I’m in bed between 11:30 and 1, depending on how many emails I have. I like to start my day with a clean slate.

As reported by C.J. Hughes



 

Jarrod Guy Randolph on the Art of New Development

09 January, 2013 posted by: CORE

One Museum MileResidential development is playing a critical role in the changing architectural landscape of New York City. From Philip Starck’s 15 Broad Street to the Time Warner Center and the newest edition of Hudson Yards, neighborhoods are changing because of each new development. Beyond being known as eye candy or game changers, these projects are proving to be New York City most lucrative investments.

Due to limited quantities, new residential developments appreciate disproportionately higher when compared to the rest of the market. Prices appreciate for several reasons in new development: new infrastructure, no barriers of entry, flight to quality, high design aesthetic, building economics and inventory. I’d like to take a moment to scratch the surface and point out these factors that impact the market, value and your bottom line.

New Infrastructure
It’s shiny and new. The largest majority of consumers love that.

No Barriers to Entry
When buying in a new development, there is no board process. You sign a contract, submit a check, and pay the balance at closing with your associated closings cost. That’s it.

Flight to Quality
Flight to quality has been influenced by the consumers, but mainly by the financiers. Underwriting standards have changed and you have to underwrite at higher numbers than ever before. Sometimes, $2,000-plus on the base price-per-square-foot. This has forced developers to build better product in order to create equal profit margins to past developments. In essence, you can only charge more if the quality is better. The better the product, the more it retains its value and tends to appreciate higher.

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What’s New: Stately Elegance

08 January, 2013 posted by: CORE

323 West 19th Street 01
Where323 West 19th Street
Size: 5-bedrooms, 3-bathrooms
Asking: $7,250,000
Listed byRyan Fitzpatrick and Vickey Barron
This sprawling townhouse seamlessly brings together historic touches with the comforts of contemporary living. Located in the heart of Chelsea, this 5-bedroom, 3.5-bathroom home’s expansive floor plan making it an incredible entertaining space while providing private, intimate living areas. Charming details including a wet-bar, five wood-burning fireplaces, a wood-paneled library and skylights that soak the fourth floor with natural light make for classic New York appeal. The modern updates ensure ease for day-to-day living. Beyond the beautiful interiors, this home boasts three outdoor spaces bringing an incredible openness and lush backdrop.


 

CORE in the news

07 January, 2013 posted by: CORE

A sampling of last week’s press coverage of CORE and CORE properties.
One Museum Mile“Predicting the 2013 Market”
The Real Deal

Industry professionals, including CORE Executive Vice President Michael Graves, reflect on 2012 and weigh in on what’s ahead in 2013.

“The Naming Process: How City Buildings Get Their Monikers”
AM NY

One Museum Mile at 1280 Fifth Avenue is featured in a piece that dissects how and why buildings are given their names. CORE Managing Director, Tom Postilio, explains the marketing efforts behind our new development which will soon be home to the Museum for African Art.

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5 Things You Didn’t See on this Week’s Selling New York

04 January, 2013 posted by: CORE

HGTV’s “Selling New York” follows CORE agents as they navigate the country’s most competitive—and compelling—real estate market. Here’s our behind-the-scenes look at Episode #606, which first aired on January 3, 2013. For more SNY recaps, click here.

mickey2In this week’s episode of “Selling New York,” CORE’s Mickey Conlon plays real estate matchmaker for a couple from Australia looking for their dream New York pied-a-terre.  The bar is set high when they express they want a quintessential New York home for $600,000- $800,000.  Views, premium finishes, iconic location? Mickey had his work cut out for him to find a listing with all of those boxes checked off (not to mention his buyer only has a few days in the states to view properties).

Advising that the budget set forth would be extremely limiting, Mickey takes a risk and shows his client, Sue Heath, an apartment priced at more than double their original budget to educate her on what price point would meet their expectations. 400 Fifth Avenue embodies New York City luxury living with premium finishes, breathtaking views and a sleek and modern feel. The buyers want to bring the price closer to their limit so they put in a low offer. Mickey advises against this because he is apprehensive the sponsor won’t take the offer seriously and they will lose their credibility as potential buyers.

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