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

“The Market That Never Sleeps”
New American Luxury
CORE founder and CEO Shaun Osher was interviewed about trends in the New York City real estate market and how CORE stays ahead of them. Here’s Osher on what people want right now: “Clients are looking for quality—something they’ve become so used to seeing a lack of in this market. New Yorkers want turnkey, well-conceived, perfectly finished apartments and homes.”

“So You’re Priced Out. Now What?”
New York Times
The historic Ladies’ Mile section of Chelsea is offered up as a more affordable version of SoHo in an interesting Times story that looks at five pairs of neighborhoods, one expensive, one cheaper. Part of what gives the Ladies’ Mile its SoHo feel is the conversion of old department stores into lofts, like the Cammeyer, where the Times highlighted Kirk Rundhaug’s $2.8 million listing in the building (right).

“Watts up”
New York Post
Liev Schreiber and Naomi Watts checked out three of Vickey Barron’s townhouse listings in the Village, but in the end the celebrity couple decided to buy a loft in TriBeCa.

The New York Condo Blog is the latest publication to take notice of the transformation going on around Central Park along Upper Fifth Avenue, and they spoke with CORE founder and CEO Shaun Osher about the changes, as well as CORE’s new luxury development in the neighborhood, 1280 Fifth Avenue. Here’s Osher’s response to a question about the “stigma” surrounding properties above 96th Street on the Upper East Side:

Manhattan neighborhoods are always evolving. 96th Street is an antiquated border that once denoted the northern boundary of the Upper East Side. Central Park is just as lush and green above 96th Street as it is below, and the architecture is equally as impressive. Both developers and savvy buyers recognize the value of having a Fifth Avenue address with direct park views, access to Central Park and presence along Museum Mile. It is that opportunity that is driving the growth along Upper Fifth Avenue, the newest in a long line of well-known neighborhoods that have evolved such as the Upper West Side, Chelsea, SoHo, and the Meatpacking District – all neighborhoods that are now among the most coveted in New York City.

“Opportunity” is a key word. As the Financial Times wrote, prices on Upper Fifth can be 25% to 50% below what’s asked south of 96th Street. For a look at some listings at 1280 Fifth, click here.

Today several quarterly reports detailing the ups and downs of the Manhattan real estate market at the end of 2011 were released, and the headline, according to the Wall Street Journal, was a sharp decline in sales. Though apartments in Manhattan still sold for an average price of $1.445 million and a median price of $855,000 (about even with past reports), the number of deals fell 12.4% from the fourth quarter of 2010, and 35% from last summer. Part of that drop has to do with seasonality — the fourth quarter is typically the slowest real estate sales period — but the blame can also be pinned on a simple lack of supply. New condominium sales showed the deepest declines, and as the Journal writes, “Real-estate brokers noted that the supply of apartments on the market had been shrinking, especially for new condominiums, which showed the fewest listings on the market in several years.”

Is this lack of supply creating demand? It’s one of the major story lines to follow in 2012, according to Shaun Osher. CORE’s founder and CEO offered these predictions for the 2012 Manhattan real estate market, with the impact of new inventory being chief among them:

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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 409, which first aired on December 15, 2011. For more SNY recaps, click here.

L-R: CORE's Shaun Osher and Doron Zwickel discuss pricing with 83 Franklin developer Francis Moezinia.

In “Big Decisions and Fast Deadlines,” CORE CEO Shaun Osher and top broker Doron Zwickel collaborated with developer Francis Moezinia of Rex Properties to bring a luxury rental building at 83 Franklin Street in Manhattan’s TriBeCa neighborhood to the market. The building’s high ceilings, high-end amenities and condo-like finishes made it a rarity in the Manhattan rental market, and pricing the apartments was tricky. Doron had to tour over a dozen other luxury rental apartments in the neighborhood in order to come up with competitive pricing for each of 83 Franklin’s 11 units.

Working with a hands-on developer isn’t always easy—and Shaun and Doron acted as the “voice of reason” when it came to identifying the perfect price range. While Francis was expecting around $9,000/month for the first apartments, it was ultimately decided that starting low at $8,500 would be the best way to get renters in quickly. According to Shaun, pricing is more of an art than a science, and it all worked out. A low-key open house event brought in a crop of candidates, and four weeks later 9 of the 11 units were rented — all for above the asking prices.

Keep on reading for some exclusive behind-the-scenes information about what didn’t make it into last night’s episode of “Selling New York” and what happened after the cameras stopped rolling!

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“Take the Fifth”
Financial Times (12/9)
The influential international newspaper sees big things happening on upper Fifth Avenue, including CORE’s new development along Central Park, 1280 Fifth Avenue (right), which is seeing lots of interest from foreign buyers. CORE CEO Shaun Osher recently spoke about the building’s wide appeal.

“Inside a Revamped and Relisted $7.46M Tribeca Condo”
Curbed (12/9)
CORE Managing Director Vickey Barron’s penthouse listing at 60 Beach Street, a stunning loft building in TriBeCa, caught the attention of Curbed because of the condo’s extensive high-end renovation. Check out the “after” pictures.

“Broker Beat: Core Group’s Shaun Osher”
Gotham (12/6)
Shaun Osher spoke with Gotham about the CORE’s pioneering use of technology in the New York real estate space. Said Osher, “We live in a world of transparency. Both buyers and sellers should embrace the technology and use it as an asset.”

“A ‘Cozy Treat’ in SoHo”
Wall Street Journal (12/4)
The 600sqft townhouse co-op listed by Ivana Tagliamonte at SoHo’s 47-49 King Street may be on the small side, but it’s getting big attention. Curbed loved its cuteness, and now the historic home has been featured as a Wall Street Journal “House of the Day.” Check out the slideshow for a full tour of the “cozy” charmer.

Welcome to Ten, CORE founder and CEO Shaun Osher’s rapid-fire interview series with prominent CORE figures. Read on to find out how this week’s subject deals with being on the hot seat.

Tony Sargent joined CORE this year after a long association with a much larger firm. He is an agent who has built a sound reputation in the industry and is known for his Sargent Report. His attention to detail and thorough knowledge of the market is an asset to us as a company and he is also one of the most approachable people in the business.

1) How long have you been selling real estate?
Twelve years.

2) How did you get involved in real estate?
I grew up moving around internationally and so I saw a lot of different styles of living and design in my youth, and I love architecture and working with people. In 1999 I met someone in real estate and we talked about his clients. One morning I started looking online at luxury townhouses and apartments and never stopped. A month later I was sitting on the beach watching the sun rise and I knew I wanted to do this. I am driven by my passion to help others and to be able to create a positive difference in someone’s life by helping them find or sell their home. It makes me incredibly happy.

3) What was your quickest transaction?
A Park Avenue classic seven. I was sharing it with another broker. The co-op board rejected the first buyer on a Thursday. The other broker called me to say the owner’s daughter had called on Friday out of the blue and was threatening to pull the listing. Given my numbers background and the fact that the owner’s daughter was in finance, I called her and used my business skills to give her confidence we were going about things the right way. I shared that we’d had another buyer interested three months prior who had strong qualifications. I reached out to that buyer’s broker on Super Bowl Sunday with a strategy. I let her know that the deal had dissolved, but we were about to raise the price (true). If her buyer was willing to come up $150,000 higher than their last offer, make no contingencies and simultaneously sign a contract by Tuesday morning with the seller, they had a deal. It happened in two days for over $3 million.

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Last week it was revealed that CORE has taken over the sales and marketing at 1280 Fifth Avenue, the new Robert A.M. Stern-designed condo tower above the Museum for African Art on Central Park. The building, with direct park views, a wide variety of layouts and amenities including parking, 24-hour concierge service and a rooftop swimming pool, offers an impressive list of qualities to buyers currently searching the Manhattan new-development market for a unique place to call home. We asked CORE founder and CEO Shaun Osher — who will be overseeing the sales effort — to answer a few questions about the project:

What will CORE bring to 1280 Fifth Avenue to highlight the building’s special features?
1280 Fifth is one of the best new projects to come to market over the past 5 years. It has all of the attributes a buyer could want in a new development property. One of the hottest neighborhoods. A 5th Avenue address. The best views of Central Park. Every amenity one could want. A developer who has a stellar reputation. One of the most renowned residential architects of our generation. A price point that is not available anywhere else on 5th Avenue and the Park. We will educate buyers on these qualities.

What would buyers be surprised to find out about the development?
Really, it’s the proximity to everything. A 5th Avenue address has more to offer than just Central Park at your doorstep, though that’s obviously an incredible benefit. It’s such a convenient location.

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Over the years CORE has established itself as the market leader in new development sales, and that shows no signs of slowing as the New York City real estate world heads into what promises to be an exciting 2012. This month has already seen continued strong sales at 305W16 and the dramatic unveiling of Walker Tower, and now CORE is thrilled to announce that it will handle all sales and marketing efforts at the Robert A.M. Stern-designed 1280 Fifth Avenue effective immediately. The Real Deal just broke the news that the 116-unit Central Park condominium tower, developed by Brickman, has been taken over by CORE, and Tom Postilio, Natalie Rakowski and Parul Brahmbhatt — under the direction of CORE CEO Shaun Osher — will be steering the sales effort.

A brand new “modern traditionalist” collection of residences sitting atop the future Museum for African Art, the 21-story 1280 Fifth Avenue completes Fifth Avenue’s famed Museum Mile, serving as the northern border of a stretch that includes cultural landmarks like the Metropolitan Museum of Art and the Guggenheim Museum. Add those artistic surroundings to timeless architecture and staggering Central Park views that only a Fifth Avenue address can provide, and it’s no secret why 1280 Fifth Avenue will be a desired place to call home. “We’re incredibly excited to lead this development,” said Shaun Osher. “1280 Fifth Avenue offers unparalleled architecture, layout and design – set in one of the most beautiful neighborhoods in New York City.”

The building has studios, one-, two- and three-bedroom homes as well as penthouses ranging up to 2,118 square feet, and the units are ready for occupancy. Amenities include a rooftop swimming pool, children’s play room, residents’ lounge, catering kitchen and private dining room, and prices range from $595,000 to approximately $3.25 million. For more on the building, click here.

A few factors drive price: consumer confidence, supply, demand.

According to a Bloomberg News article this week, there’s a lack of inventory of luxury housing, and prices are robust. Well, no kidding! This was predicted by yours truly (OK, and a few others) a few years ago when the development world took a dive in the wake of the credit crunch and no one was building anything new. Most of the “luxury” inventory consists of only a few types of product, and ironically, there is very little of it in Manhattan – one of the most expensive cities on the globe. If you own one of these — new development, prime location large homes on Central Park, Park and Fifth Avenues, penthouses, townhouses, and large downtown lofts — then you have a trophy.

Owners of these types of properties are generally financially sound enough to only sell when they want to. They can weather a bad market and sell when the market is more favorable. Developers who time this market right have a huge advantage to sit on their inventory, and wait for their number. And wait, they have.

If you’re lucky enough to be able to afford a trophy you should buy it because it wasn’t too long ago that talk of $2,000 per square foot on 57th Street was the stuff of a fiction novel. Now a developer is claiming $10,000 per foot for a building with a view.

To be continued…

Shaun Osher is the founder and CEO of CORE.

Welcome to Ten, CORE founder and CEO Shaun Osher’s rapid-fire interview series with prominent CORE figures. Read on to find out how this week’s subject deals with being on the hot seat.

Reba Miller has been in the business for almost 30 years! Even after selling over a billion dollars worth of real estate, she has an impeccable reputation and a zest for the business. She recently caused a stir by joining our team in a senior leadership role, and I’m looking forward to working with her to help build our company, our culture, and our brand.

1) What is one the one thing about you that you think defines who you are?
I am very driven.

2) You’ve been in the brokerage business for almost 30 years. What has been your biggest surprise?
How much I still love each day as if it’s my first!

3) You recently joined CORE as our Senior Managing Director of Sales. Why move now?
I felt the business was changing and I bee-lined for the coolest and most reputable company to align myself with. I figured the owner’s name spelled the same way as my son Shaun was a great sign.

4) What was the toughest negotiation of your career?
Selling myself to the developers of 22 West 66th Street when they bought the building from the Resolution Trust Corp. They did not speak a word of English, so every bit of the exclusive from beginning to end was translated into Italian.

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