Culture

       

House Call: 35 West 9th Street, 2C

17 June, 2016 posted by: CORE

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THE LISTING
35 West 9th Street, 2C

THE AGENT
Maggie Kent
Lic. Assoc. Real Estate Broker
Licensed as Maggie A Moore
646-342-0698
mkent@corenyc.com

THE DETAILS
Offered at $1,650,000, this 2-bedroom, 1-bath pre-war apartment in prime Greenwich Village features townhouse garden views and a wood-burning fireplace. The classic and spacious layout also offers a beautifully renovated windowed kitchen complete with a petite breakfast bar.

THE HOUSE CALL
Sun, Jun 19th, 11:30 – 12:30



 

Hot Topic: Challenges of Owning a Dog in NYC

15 June, 2016 posted by: CORE

UWS R2 002

If you’re a dog owner who is trying to find a dog-friendly listing, there are brokers who specialize in this category. Last week, StreetEasy featured CORE’s Michael Rubin in an article covering the struggles of owning a dog in New York City. The article highlighted CORE as an agency with many listings in pet-friendly buildings as well as Michael’s expertise on those buildings’ requirements and the best approach for pet-owners who double as clients.

For the full article click here: Challenges of Owning a Dog in NYC



 

True Gotham: Culture Fit Directly Impacts Consumer

13 June, 2016 posted by: CORE

Central Park Columbus Circle

Reporting from the front lines, Douglas Heddings brings us “True Gotham” – your source for NYC real estate tips, advice, anecdotes and general market insights that aim to inform and enlighten. 

There are many factors that determine the success of a real estate agent and in turn the success of the real estate transaction. Some of the obvious internal forces are charisma, professionalism, emotional intelligence (EQ), negotiating acumen and overall real estate knowledge. And of course the obvious external factors are the tools and support provided by the agent’s firm. But many agents and consumers alike underestimate the role that company culture plays in the nurturing, support and success of the real estate business.

Think about your favorite job for a moment. Perhaps it was last year or maybe even decades ago? Perhaps it is the job you currently hold? Now consider what makes/made the experience so positive. A proper culture fit is likely to blame. I can tell you from 25 years of experience in the NYC real estate business that when the culture of a company matches that of the real estate agent, the results are astounding and resonate beyond the agent’s business into every aspect of the real estate transaction. Imagine the real estate agent who is happy, positive, feels supported and nurtured and has an overall optimistic outlook of their business and the upshot of that on each and every real estate transaction that he or she touches.

In an effort to determine if a culture is the right fit for you as an agent, consider asking yourself these questions (via Katie Bouton of Harvard Business Review):

  • What type of culture do you thrive in?
  • What values are you drawn to and what’s your ideal workplace?
  • Why do you want to work here?
  • How would you describe the company’s culture based on what you’ve seen? Is this something that works for you?
  • What best practices would you bring with you from your previous organization? Do you see yourself being able to implement these best practices in this new environment?
  • Think about a time when you worked with/for an organization where you felt you were not a strong culture fit. Why was it a bad fit?

Finding a good culture fit is key to business success, and agents who love the culture in which they work are more successful and better equipped to serve their buyers and sellers.



 

House Call: 20 Henry Street, PH2N

10 June, 2016 posted by: CORE

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THE LISTING
20 Henry Street, PH2N

THE AGENTS
Tony Sargent and Charles Moran
Lic. Assoc. Real Estate Broker and Lic. Real Estate Salesperson
212-500-2105 or 212-612-9651
tsargent@corenyc.com or cmoran@corenyc.com

THE DETAILS
Offered at $2,995,000, this 3-bedroom, 2-bath one-of-a-kind penthouse condominium features a stunning private rooftop terrace with beautiful landscaping. Loft-like with a flexible layout, the expansive great room is beautifully paired with an extra-large chef’s kitchen and a separate dining area – perfect for entertaining. Don’t miss your chance to purchase this ideal retreat from Manhattan in Brooklyn Heights.

THE HOUSE CALL
Sun, Jun 12th, 2:30 – 4:00



 

Hot Topic: The Ultimate Staycation? A Second Home in the Same City

08 June, 2016 posted by: CORE

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Getting away from it all doesn’t have to mean actually getting away.

In case you missed it, Shaun Osher, CORE’s Founder & CEO, was quoted in The Wall Street Journal‘s feature on how some home buyers are purchasing vacation homes in the same city as their primary residence.

For the full article click here: The Ultimate Staycation? A Second Home in the Same City

Photo credit: The Wall Street Journal



 

Commercial Basis: Part II, How to Implement a Millennial-Centric Investment Strategy

07 June, 2016 posted by: CORE

UWS R2 020

Commercial Basis’ explores how technology, branding and demographic preferences are shaping office and retail real estate in New York City. As these forces break down the barriers from where we live to where we work and shop, Lead Commercial Specialist Alex Cohen will assess the impact on real estate values and opportunities.

Last month I explored why the millennial preference for urban lifestyle and this cohort’s general inability to purchase housing combine with a shortfall of rental housing production to present an ideal opportunity to invest in urban housing appealing to renting millennials. http://corenyc.com/culture/2016/05/commercial-basis-part-i-why-a-millennial-centric-investment-strategy/  Since that post I attended a lecture by Laurie Goodman, Director of the Urban Institute’s Housing Finance Policy Center and her research confirms my recommendations. Most fascinating was that even with the housing construction industry now largely recovered, net new housing units in 2015 represented only 75% of the number of homes demanded by new households in that one year.

Once you establish your own cap rate threshold, implementing a millennial-oriented real estate investment plan should incorporate these strategies:

  • Invest through LLC entities in single family and multifamily properties in urban neighborhoods where new housing supply is constrained and where recent rent growth can be quantified. This doesn’t mean avoiding areas attractive to new development – as long as new housing development is a different typology –i.e.,  invest in existing single family and two-five family homes in neighborhoods where land values and construction costs only justify much larger multifamily condominium and rental apartment development.
  • Select properties which combine architectural appeal with walkability to shopping and amenities and good access to public transportation.  The average millennial drove 23% less in 2009 than in 2001 – the sharpest reduction for any age group.  Lack of bike storage could be a deal breaker for a 2-wheeled commuter.  Outdoor space – whether a back yard or roof deck is also an important amenity to attract tenants
  • Don’t be afraid of neighborhoods in the midst of socio-economic transition – these may represent the greatest opportunity for future appreciation of value.  However remember that for many millennials, safety is a top priority.  76% of millennials reported safe streets as the Number 1 priority for urban living.  Install alarm systems and security cameras to enhance a property’s appeal.
  • Be prepared to accept pets and alternative forms of rent payment. More than 76% of millennials own cats or dogs.  And they rarely write a check.  I always offer my millennial tenants the options of Quickpay, Paypal and my personal favorite, Venmo. In fact any of these payment systems give me greater piece of mind than hearing from a tenant that “the check is in the mail.”


 

Hello, Brooklyn!

06 June, 2016 posted by: Shaun Osher

180_Smith_Street_CROP

When we decided to open an office in Brooklyn, we approached it with great thought and care. It was not an endeavor we took lightly or as part of a large “corporate” strategy.

When we open an office, we are making a bigger commitment. A commitment and a pledge to become a part of a community. We are joining a neighborhood of people and businesses that care deeply about the place they call home. There is an unshakable pride and commitment to the betterment of their neighborhood and the progress of their people. As cities and neighborhoods have grown, it becomes more difficult to find this sentiment. But you can still find it in Brooklyn.

We thought long and hard about where we should open our first office. We worked tirelessly with our agents – the ones that eat, live and sleep the borough – to find our first CORE community. And we are thrilled to finally open our beautiful new office on Smith Street. So far we have had an overwhelmingly positive response from clients, agents and our neighbors. We are already finding homes, selling homes and meeting all sorts of new faces.

So thank you for welcoming us to the ‘hood. We look forward to being a good neighbor for a very long time.



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