Culture

 

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



 

House Call: 261 West 25th Street, 7B

30 June, 2017 posted by: CORE

THE LISTING
261 West 25th Street, 7B

THE AGENT
Lawrence V Treglia
Lic. Assoc. Real Estate Broker
212-500-2108
ltreglia@corenyc.com

THE DETAILS
Offered at $3,175,000, this two-bedroom at the Seymour features its own private penthouse roof cabana. The cabana is outfitted with a full kitchen and boasts a professionally landscaped rooftop oasis with irrigation. Additionally, the Seymour is a full-service boutique condominium with hotel-like amenities including a gym, lounge, media room and library. Be sure to stop by for a tour of this Chelsea gem on Sunday!

THE HOUSE CALL
Sunday, July 2nd, 12:00- 1:30pm


 

Design Dialogues with Surface Magazine at 42 Crosby

29 June, 2017 posted by: CORE


(Photo by Craig Barritt/Getty Images for Surface Media)

Last night, Surface Magazine hosted Design Dialogues No. 36, featuring CORE’s Founder & CEO Shaun Osher and fashion designer Cynthia Rowley. Inside Selldorf Architects‘ inimitable 42 Crosby, they discussed the future of retail, technology, and design—and living in New York City.  Atlas, Selldorf Architects and the artist Paula Hayes were joined by guests for an evening of compelling conversation in an equally captivating setting.



   

Best Apartment I Ever Sold: Tony Sargent

27 June, 2017 posted by: CORE

Best Apartment I Ever Sold invites our agents to share the unique story of their best selling experience to date. This week, learn why Tony Sargent‘s sale at 444 West 19th Street, PH2 is his best one yet.

I was referred by a Beverly Hills broker to the LA-based seller of this West Chelsea penthouse. They’d bought it only eight months prior at $2,995,000, and wanted to sell at a 21% mark-up without any additional work having been done to the property.

The average price per square foot in the building was in the low $1,300’s yet we were going to market this property for close to $2,400 per square foot before all the new construction in the neighborhood was announced. After showing the property for 60 days to many buyers, I took the feedback from buyers (except that it was overpriced) and proposed to the seller that we remove all of his furniture except for the master bedroom set and re-stage the whole property with new furniture.

Working with staging consultant Susan Goldstein and her assistant, I spent six hours in their Brooklyn warehouse hand-picking furniture to soften the glass and mirrored surfaces of this unit. I also connected with CLIC! Bookstore on Centre Street and they kindly offered to lend me large-scale photography of nature which I innately felt would bring this in-the-sky property a more earthy grounded feel. Choosing more classic-contemporary furniture than the modernist white leather look that was already in the unit, I transformed the property over the course of two days.

In addition to re-photographing the apartment professionally, I did in-depth research into the nearby new development projects that were yet to be announced, and created marketing which touted the growing upscale properties that were coming to the area on 10th Avenue, before most brokers and buyers were aware of them.

Up until the transformation of the marketing, my seller had not received an offer above $3,200,000. Within a week of re-presenting the property, we had four offers on the table and went with an all-cash offer of $3,600,000.  We had a full price offer but the seller chose the lower offer given its all-cash nature.

The best part? Delivering an over market price by creating a look and marketing plan for the property that drew in a new set of buyers and created new demand and showed the apartment and area in a way that appealed more to buyers. This strengthened my commitment to bespoke marketing and its potential to deliver more for sellers than the standard price-chop approach that traditional brokers have applied for years to get a property sold. Why go down when you can be creative and effective and deliver more money into a seller’s pocket?

Finally, a buyer who visited the property and fell in love with the custom staging hired me to help them buy an area property for over $8,000,000. To succeed and then also be recognized for the customized approach that I use in real estate is something I am grateful for. It’s why I do what I do the way I do it – for my clients and for their long term benefit.



 

House Call: 385 West 12th Street, 5W

23 June, 2017 posted by: CORE

THE LISTING
385 West 12th Street, 5W

THE AGENTS
Jim St. André
Lic. RE Salesperson
Lic. as Jim E St. André
212-612-9602
jim@corenyc.com

Trevor Stephens
Lic. RE Salesperson
212-612-9662
tstephens@corenyc.com

THE DETAILS
Offered at $10,595,000, this three-bedroom featuring Hudson River views boasts custom designed interiors from Interior Design Hall of Fame member and multi-award winning designer Jamie Drake. The recently renovated rooftop amenity space features a 50-foot swimming pool – perfect for the summer season ahead. Be sure to stop by this Sunday for a tour of this West Village home!

THE HOUSE CALL
Sunday, Jun 25th, 11:30am- 1:00pm



 

Hot Topic: 38 Prince Street in the Spotlight

21 June, 2017 posted by: CORE

Earlier this week, Patrick Lilly and his listing at 38 Prince Street were featured on NBC’s “Open House.” The landmarked townhouse in Nolita was once the west wing of Old Saint Patrick’s School and Convent and dates back to 1826. Click below to watch the full segment and learn more about this historical home.

Click here to view the full segment: An Old Convent Turned Luxury Home



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