September 25th, 2012 posted by CORE

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Where: 15 West 20th Street, 7A
Size: 2 bedrooms (plus home office), 3 bathrooms
Asking: $2,895,000
Listed by: Adrian Noriega

This large apartment in the red-hot Flatiron District has a big, bright and airy feel that is lacking in many pre-war condominium loft buildings, even ones with more famous addresses. (See Adrian Noriega’s listing for all the photos.) The spacious home office is a nice bonus, as are the three full bathrooms, laundry room, direct elevator access and working fireplace. All that said, there’s more to enjoy without leaving the property: The 2,259-square-foot unit sits high on the seventh floor of the Altair 20, a condo that boasts both a gym and a sprawling shared roof deck. Update: This apartment has gone into contract!



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September 24th, 2012 posted by CORE

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

“Slim supply gives condo prices new pop”
Crain’s
Record rents, low interest rates and wealthy buyers looking to invest their fortunes are all helping to pump up the condominium sales market, Crain’s reports. One of the projects benefiting from the lack of new inventory is CORE’s Walker Tower development (above). “Walker Tower is shattering record prices for downtown,” CORE CEO Shaun Osher tells Crain’s. For more on Osher’s take on the current real estate market, read his comments on the new housing shortage.

“Trophies On Display: In Gaga Global New York, the Loudest Listings Bag the Billionaires”
New York Observer
In the Observer’s look at the current culture within Manhattan’s luxury real estate world (”If you’ve got it, flaunt it. That’s the new rule of thumb in luxury real estate, anyway.”), CORE Managing Director Emily Beare commented on the important roles advertising and publicity play in marketing expensive properties.

“What’s new”
New York Post
The Post’s big fall real estate preview featured CORE’s upcoming 93 Worth Street project on its cover. The former garment factory in TriBeCa, built in 1924, will launch sales later this fall with prices from $1,250 to $2,000 a square foot. Click here for more on the project.



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September 21st, 2012 posted by CORE

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Following up our status report earlier this week on One Murray Park, we thought we’d share this additional shot of one portion of the rooftop terrace atop Long Island City’s newest luxury condominium building. In the background are the waterfront towers of LIC, as well as the Midtown Manhattan skyline, with the United Nations and the Chrysler Building being the most prominent. Residents will even be able to see the new World Trade Center taking shape — you can spot 1 World Trade Center, what will be the tallest building in the country, in the distance. The Chrysler Building and 1 World Trade Center in the same view? A unique perspective from a unique building. Click here for more on One Murray Park.



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September 20th, 2012 posted by CORE

core_93worthNYPsFlip open the New York Post today and you’ll see CORE’s upcoming 93 Worth Street project on the cover of the Home section. The TriBeCa luxury condominium building, a conversion of a garment factory and office building built in 1924, was announced last October, and now there are finally specifics to share. Here’s what the Post has to say (you can find the story online here):

Built in 1924, 93 Worth St. began as a garment factory. For the past 50 years, it has served as an office building. And now it has met its destiny — the same destiny as so many buildings in this city — as a luxury condominium. The 13-story TriBeCa building will offer 92 units, studios to four-bedrooms, priced from $1,250 to $2,000 a square foot. Amenities will include a 24-hour doorman, fitness center, playroom, lounge and 3,845-square-foot roof deck. On the ground floor will be 10,000 square feet of commercial space. Sales will start this fall.

The 93 Worth website recently launched with a sign-up form for more information. Head over there and sign up to be among the first to get details of the building’s sales launch.



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September 19th, 2012 posted by CORE

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Closings have just kicked off at One Murray Park, the new 45-unit luxury condominium development in Long Island City along a recently renovated playground and park. The building, one of the few new developments in this rapidly transforming neighborhood, is now 64% in contract, according to CORE’s Doron Zwickel, who is handling sales and marketing for the building. Featuring amenities such as a doorman, fitness center, residents’ library, roof deck and indoor parking, One Murray Park is also entering the homestretch of construction, which makes it the perfect time to check in on the building following our earlier sneak peek inside.

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September 17th, 2012 posted by Shaun Osher

core_shaunportrait091712As expected, CORE’s latest Real Time Report (click here to download the PDF), which includes the most current contract data from StreetEasy, showed us that the Manhattan real estate market is strong across the board. Our monthly report found that, compared to last year, overall contract volume rose by over 26%, while inventory has continued to shrink — an overall decrease of 11% since last year. And this week Crain’s reports that this high demand and lack of supply is sending condominium prices soaring, with great success for sellers. In fact, our Walker Tower project is highlighted as one new development that is capitalizing on this “pricing pop.”

So where are we? It’s getting harder to find a good apartment at a reasonable price. (Although doesn’t that always seem to be the case if you’re a buyer?) With inventory levels continuing to shrink, I only see this becoming more difficult, and the housing shortage that I foresaw and predicted three years ago seems to have become a reality.

The effects of this? Higher prices, more bidding wars, less time on the market, and more situations where sellers are remorseful for selling and buyers are regretful over missed opportunities.

Shaun Osher is the founder and CEO of CORE.



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September 17th, 2012 posted by CORE

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

“Argentines Turn Cash Into Condos in Miami”
New York Times
Alexei Barrionuevo’s latest Big Deal column, on South American — and particularly Argentinian — buyers looking to invest their savings in Miami and New York real estate, highlights One Museum Mile (right) as a new luxury development in Manhattan that is getting lots of investor interest.

“CORE to open retail office on UES”
The Real Deal
CORE’s exciting announcement of a new Madison Avenue office is covered by The Real Deal, which writes, “The firm, which was recently ranked by TRD as the city’s top boutique brokerage based on the value of listings, has inked a 10-year lease for a 3,500-square-foot office at 673 Madison Avenue that will open next spring, the spokesperson said. A gut renovation of the place will begin this fall.

“Residential Sales Around the Region”
New York Times
The sale of the Chelsea Skyhouse, a triplex penthouse at 213 West 23rd Street listed by CORE’s Emily Beare and Christian Rogers, is featured. The trophy apartment, with 6,000 square feet of private outdoor space and a 30-foot atrium, sold for $8.2 million.



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September 14th, 2012 posted by CORE

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Earlier this week we announced that CORE will be opening a new location on the Upper East Side in the spring, on the second and third floors of the historic brownstone at 673 Madison Avenue. New signage announcing CORE’s impending arrival will be going up soon, but as a little sneak preview for CORE Blog readers, above is a rendering of how we’ll be announcing ourselves to the neighborhood — and hiding the space from prying eyes until we’re ready to show it off.



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September 13th, 2012 posted by CORE
Left: Walker's Barclay-Vesey Building is featured on the book's cover; Right: An archival photo of Walker Tower

Left: Walker's Barclay-Vesey Building is featured on the book's cover; Right: An archival photo of Walker Tower

Last week Rizzoli published Kathryn E. Holliday’s Ralph Walker: Architect of the Century, and this particular marriage of book and publisher is quite fitting. The legendary Italian publishing house was founded in 1929, just as Walker, across the ocean in New York, was in the midst of a groundbreaking run that saw him design such iconic Art Deco masterpieces as the Barclay-Vesey Building, the Irving Trust tower (now simply known as One Wall Street) and the New York Telephone Company building at 212 West 18th Street. The latter is now Walker Tower, renamed in honor of the pioneering architect, and undergoing an extensive restoration and renovation into 50 luxury residences.

This is the first book dedicated to the life and career of Walker, who was proclaimed “architect of the century” in a 1957 New York Times headline. Last spring, a public exhibition on Walker was held inside Walker Tower, based in part on materials pulled from this book. (Author Kathryn E. Holliday was in attendance and held a book-signing at the opening night reception.) The book covers Walker’s entire life and career and includes a passage on Walker Tower, a great example of Walker’s “humanistic” approach to architecture, which called for texture and ornament in design to uplift city dwellers. To purchase a copy of the book, click here, and head on over to the Walker Tower website for more on the building’s history.



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September 12th, 2012 posted by CORE

Midtown has traditionally been known as a business and tourism hub, a place where you were more likely to pass through than live. But in recent years new luxury development has capitalized on the neighborhood’s convenient location and attracted a wave of residents. Here’s a look at some of what’s currently available.

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Where: 100 West 58th Street, #9G
Size: 2 bedrooms, 2 bathrooms
Asking: $1,295,000
Listed by: Tom Postilio and Mickey Conlon

The area just south of Central Park has seen a lot of change in the past few years with the arrival of new skyscrapers, but one thing it is not known for is apartment buildings with true architectural pedigree. The Windsor Park, a newly converted condominium originally designed in 1929 by the legendary Rosario Candela, with renovations by Gwathmey Siegel and Associates, is the exception. Steps from Central Park, Carnegie Hall and the “Plaza District” and its fantastic retail options, this two bedroom apartment is classic while still being contemporary.

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