Culture

 

House Call: 355 East 19th Street, TOWNHOUSE

21 July, 2017 posted by: Erin Ryder

THE LISTING
355 East 19th Street, TOWNHOUSE

THE AGENTS
Doron Zwickel
Lic. Assoc. Real Estate Broker
212-612-9607
dzwickel@corenyc.com

Sean Attebury
Lic. Real Estate Salesperson
917-597-6370
sattebury@corenyc.com

Caleb Nickels
Lic. Real Estate Salesperson
646-677-2035
cnickels@corenyc.com

THE DETAILS
Offered at $3,900,000, this remarkable Gramercy townhouse boasts a 1,521-square-foot patio and garden in addition to an expansive great room and elegantly designed chef’s kitchen. Additionally, each of the home’s three bedrooms provides direct access to the patio and garden. Be sure to stop by for a tour of this one-of-a-kind Gramercy home this Sunday!

THE HOUSE CALL
Sunday, July 23rd, 11am – 1pm


 

Hot Topic: Elizabeth Kee in the Wall Street Journal

19 July, 2017 posted by: CORE

Did you catch our very own Elizabeth Kee in the Wall Street Journal last week? Elizabeth was interviewed for a feature on the Spireworks app – the secret app that lets used change the colors of New York City skyscrapers. Click the link to read about Elizabeth’s experience with the app at 93 Worth‘s penthouse launch party!

Click here to read the full article: Friends in High Places: Secret App Makes Manhattan Skyscrapers Change Color



 

Commercial Basis: No Need to Wait for Driverless Cars

17 July, 2017 posted by: CORE

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 assesses the impact on real estate values and opportunities.

In less than five years, Uber and its competitors transformed the way many of us choose to get around New York City. Likewise, they disrupted the business and leisure traveler’s attachment to rental cars. Now much attention is focused on how driverless cars will inevitably transform urban and suburban life. But whether A.I.-equipped cars become widespread in five years or 20 years, the continued explosion of ride-sharing (with or without drivers) will rapidly reorder the place of the automobile in our lives. What will be the impact of this mobility revolution on how our region’s real estate is valued? What opportunities and challenges does it present?

BMW recognizes that its future is not primarily as a seller of cars but as a ride-sharing company (www.reachnow.com). ReachNow is available in Brooklyn and many European cities. The economic and flexibility rationale for paying for a shared vehicle by the minute, hour, mile or day with no need to park, insure or maintain the car will probably be too strong for all but the most enamored urban car-owning residents, commuters or visitors to withstand. In light of the fact that the average vehicle in the United States is parked 95% of the time, ride-sharing obviously reduces the need for parking and will continue to reduce traffic and congestion.

Ride-sharing and the City
Before the popularization of the automobile, cities like New York didn’t look significantly different. Buildings were not as tall and there was not as much segregation of uses on the street as there is today. I don’t think cities will change physically as personal car use declines.

However, the long-term outlook for Manhattan parking garage owners and operators, who have enjoyed one of the most lucrative businesses in real estate history, is not positive as car sharing displaces car ownership and the demand for parking. Corporately-owned ride sharing vehicles will require storage and servicing centers during lower demand periods, but in all likelihood, these will be located where real estate is not as expensive.

The Red Hook Effect
In New York City, in neighborhoods like Red Hook that are generally inaccessible by public transit, historically residential real estate has been priced to reflect this limitation. But with attractive housing options and amenities like waterfront parks, real estate should appreciate in value at a faster rate than other areas, as ride-sharing overcomes inconvenience.

The Suburbs
The earliest suburbs (like Bronxville, New York) developed as “railroad suburbs” before the popularization of the car. These appealed to residents with professional and commercial ties to the city, but with a preference for and ability to live in a private home that had a train station as well as neighborhood retail and services within walking distance. It was the automobile that helped spawn the post-war explosion of sprawling suburbs in which all activity outside the home is car-dependent. These communities now face the greatest planning and development challenges. For example, a suburban big box shopping mall can devote 75% of its land to parking – most of which may become superfluous as driving habits change.

While urban living has gained popularity among baby boomers and millennials at the expense of the suburbs, I don’t expect ride-sharing to dramatically change individuals’ or families’ preferences for one lifestyle over the other. But our already overstretched railroad infrastructure will be burdened severely as ride-sharing eliminates the expense and annoyance of train station parking. Train ridership from the suburbs into and out of New York City will inevitably increase

Retail Destinations
The current struggles of retail are well-publicized. The growth of ride-sharing may offer an opportunity for some retail to prosper and retail real estate to appreciate. Ride-sharing should make unique retail destinations with an experiential quality more attractive. For example, I foresee growth in customers (and sales) at the Woodbury Premium Outlets, which is unmatched among outlet centers nationally for its inclusion of luxury brands. Woodbury Commons is located 50 miles north of Manhattan, but ride-sharing will make this destination more accessible from throughout the metropolitan area and perhaps more attractive as an alternative to clicking on Gilt.com.



 

House Call: 60 White Street, PHE

14 July, 2017 posted by: CORE

THE LISTING
60 White Street, PHE

THE AGENTS
Emily Beare
Lic. Assoc. Real Estate Broker
212-726-0786
ebeare@corenyc.com

Shaun Osher
Founder and CEO, Lic. Real Estate Broker
212-726-0778
sosher@corenyc.com

THE DETAILS
Offered at $9,275,000, this duplex penthouse atop Tribeca’s most environmentally-conscious boutique condominium features over 700 square feet of private terraces. The stunning outdoor spaces boast two outdoor showers and unobstructed views of Freedom Tower. Be sure to stop by this Sunday for a tour of this one-of-a-kind penthouse in the heart of Tribeca.

THE HOUSE CALL
Sunday, July 16th, 11:00am – 12:00pm


 

Sustainability Panel at 60 White Street

12 July, 2017 posted by: CORE

Last night, 60 White presented “Paris Climate Accord: USA Out, New York City In” moderated by CEO & Founder Shaun Osher, with Helena van Vliet of Helena van Vliet Architect LLC, Craig Margolies of The Hudson Company, Jake Hawvermale of Urban Roots NYC and Eric “T” Fleisher of F2 Environmental Design. Shaun and the panel enjoyed a compelling conversation on how New York City’s housing and development communities will honor their commitment to sustainability.

Click here to learn more about 60 White Street: CORE Developments: 60 White


 

Hot Topic: Tribeca Loft in the Wall Street Journal

12 July, 2017 posted by: CORE

Last week, the Wall Street Journal named Jarrod Guy Randolph and Elizabeth Kee‘s listing at 60 Beach Street, 3B “House of the Day.” The Tribeca loft was highlighted for its year-long renovation that included painting the exposed brick white and adding white oak floors in a herringbone pattern. Click below to read more about the renovation and see more of this stunning home!

Click here to read the full article: A Tailor-Made Tribeca Loft



 

Trends & Tides: The Customer is Not Always Right When Pricing Their Home

10 July, 2017 posted by: CORE

Trends & Tides takes a look at the ever-changing environment of New York City real estate – past, present and future – by offering observations, analyzing perceptions and challenging myths, while giving a dose of reality along the way.

As a 25 year veteran of the NYC real estate market and a student of the sales industry since my time working retail at 16 years old, the single most consistently and frequently stated mantra has been and continues to be, “the customer is always right.” Au contraire mon frere! I’m here to tell you first hand that this couldn’t be further from the truth when it comes to a seller pricing their own home. And I include myself in the sweeping generalization.

There is perhaps no more important element in the process of selling your home than accurate pricing. By accurate, I mean selecting the price that gives you, the seller, the best chance of procuring the highest bid within the time frame that suits your schedule. Pricing is hardly an exact science but rather a combo of interpreting data and a “feel” for current market conditions best understood by those in the trenches: real estate professionals. If you are preparing to sell your home, here are some ways that may help you in selecting a fair market price:

1. Don’t believe the hype – We all hear what we want to hear and in the case of most sellers, they hear only the positive spin on market conditions.  Keep in mind that most of the people you know aren’t as likely to share with you that it took them 6 months to sell but they are much more likely to tell you about how they and everyone they know had bidding wars on their property.  Also BEWARE of real estate agents who tell you what you want to hear.  There are many out there who desperately need an exclusive listing even if it is just to procure buyers for other properties.  They often get so excited to obtain the exclusive that their judgment becomes cloudy.  Or they just lie.

2. Compare Apples to Apples –  I can’t tell you how many sellers have said to me “but my neighbor sold his/her apartment for $X” when the neighbor’s apartment is dramatically different in one or more ways (ex. better views, renovated, completely different layout, higher floor, better or worse building).  I also often hear, “a 3BR across the street just sold for $X.”  It’s imperative than when analyzing comparable apartments, you stick with those most similar to yours and make proper adjustments for various amenities and differences if necessary. Compare prewar to prewar, doorman buildings to doorman buildings, and location should be in as close proximity to your home as possible.  It may be a good idea to spend a couple of weeks with a friend attending open houses for similar properties but remember that the asking price of active property has little to do with actually sales prices.

3. Objectivity is difficult but necessary – I know it’s difficult for a seller to remove her/himself from the attachment they have to their home.  But you must do your best here.  Don’t inflate your price based on your emotional attachment to the built-in ironing board or the bidet that you think is so nifty.  I once had a seller who installed a urinal in his bathroom and really believed it would increase the value of his property.  If you are going to hire a real estate agent, make sure you are comfortable with their honesty and don’t fall for the person who “yeses” you to death and waxes eloquently about that mirrored ceiling and disco ball in the bedroom. It may be beneficial to sit down with a friend (a really good friend) and make a list of all the things that you think are selling points and have them tell you which are a stretch.

4. Finally…Don’t price too high or too low – Once you have selected the correct sold properties to compare to yours, made your list of selling points and had that friend edit them, and perhaps met with a few real estate agents to get their professional opinions, select an asking price that “feels” right.  A tall order indeed because you must remove your emotions from the pricing process.  If you have determined that other homes like yours are selling in the $1800 to $1900 per square foot range, then you need to objectively determine where your property falls within that spectrum.  Most of us would need help from that friend or real estate pro for this.

Having sold multiple properties over the years, I know all too well how difficult it is to practice these 4 tips. I do know that even for me, when selling my own homes it has been essential for me to involve an objective party to help me get out of my own way and make decisions based on accurate and real time market data to yield the best price.



 

House Call: 30 Bayard Street, PHA

07 July, 2017 posted by: CORE

THE LISTING
30 Bayard Street, PHA

THE AGENTS
Todd M Lewin
Lic. Associate Real Estate Broker
212-612-9685
tlewin@corenyc.com

Michael Rubin
Lic. Assoc. Real Estate Broker
347-880-0349
mrubin@corenyc.com

THE DETAILS
Offered at $2,950,000, this three-bedroom, two-bathroom condo is set along McCarren Park in Williamsburg. Additionally, this duplex penthouse features unparalleled park, East River and Manhattan skyline views – not to mention ceiling heights ranging from 10 to 16 feet. Don’t miss the opportunity to tour this rare park-front condo in Brooklyn on Sunday!

THE HOUSE CALL
Sunday, July 9th, 1:30- 2:30pm


 

Hot Topic: Custom Style in Chelsea

05 July, 2017 posted by: CORE

Last week, Adrian Noriega, Brett Caspi and Zach Boren‘s unique duplex listing at 368 West 23rd Street, 5R was featured on Curbed. The Chelsea co-op was highlighted for its expansive private terrace, new hardwood floors and custom built-ins. Click the link to see more of these sleek downtown digs!

Click here to read the full article: Stylish Chelsea duplex with expansive private terrace asks $1.6M



CATEGORIES

ARCHIVES