Culture

 

CORE 10: Patrick Lilly

20 June, 2017 posted by: CORE

Welcome to CORE 10, an off-the-cuff interview series with prominent CORE figures. Read on to learn more about this week’s guest, CORE broker, Patrick Lilly.

Who is the living person you most admire? Michelle Obama.

Who is the most interesting New Yorker you know? Whoopi Goldberg.

What is your earliest New York memory? A school trip to the Museum of Natural History in the 4th grade.

What is the best advice you’ve ever received? Focus on what you have, not what you lack.

What do you consider your greatest achievement so far? Happiness.

What are your three most treasured possessions? My house upstate, my kitty cats and my health.

Name a movie, book or work of art that changed your life. A Course in Miracles by Helen Schucman.

What’s your greatest extravagance? A Louis Vuitton briefcase.

What’s your secret talent? I pack a mean dishwasher.

Which words or phrases do you most overuse? “Yes.”



 

True Gotham: Avoiding Drama in Today’s Complex Real Estate Market

19 June, 2017 posted by: CORE

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.

If there is one word that I would use to describe the current climate of the New York City real estate market, it would be complex. It seems that most every deal is posing different challenges. From buyer, seller and even agent and attorney posturing, to financial curve balls from banks, and co-op board and managing agent interventions, all too frequently an unnecessary wrench is being thrown into the transaction process. It has been my experience over the years that there are several best practices that anyone involved in a transaction may implement to maintain peace and harmony through the closing:

1. Manage expectations: Communication is key here and it is imperative that all parties are informed of possible hurdles before having to leap them. When all else fails, think like Amazon and under promise and over deliver.

2. Remove ALL emotion: Emotion creates drama and drama has no place in a real estate transaction. Check yourself regularly to make sure that you are not being driven by your feelings.

3. Let go: No one person in a transaction controls all facets. Don’t attempt to control the deal nor the people involved in the deal.

4. Be professional: Be mindful of being of service to your customer and others involved in the transaction which leads to the final point…

5. ADD value: Ask yourself throughout the transaction if you are an asset or a liability and make every effort to add value to the transaction by practicing the 4 points above.

It is possible to have a smooth real estate transaction, but in order to do so, all parties involved must let go of any potential drama and remember that the ultimate goal is to peacefully trade real estate. This isn’t always possible but is definitely more so than many believe.



 

House Call: 76 Madison Avenue, 11B

16 June, 2017 posted by: CORE

THE LISTING
76 Madison Avenue, 11B

THE AGENTS
Michael Rubin
Lic. Assoc. Real Estate Broker
347-880-0349
mrubin@corenyc.comTodd M Lewin
Lic. Associate Real Estate Broker
212-612-9685
tlewin@corenyc.com
THE DETAILS
Offered at $2,955,000, loft-like condo in Flatiron features 11-foot ceilings and seven oversized windows in addition to a dramatic great room that’s perfect for entertaining. Perfectly situated only moments from Madison Square Park, Eataly and other NoMad/Flatiron hot spots, there’s no shortage of things to do while enjoying boutique condo living offered at 76 Madison Avenue.

THE HOUSE CALL
Sunday, Jun 18th, 12:00 – 1:30pm


 

Hot Topic: Kelsey Grammer Slept Here

14 June, 2017 posted by: CORE

Did you catch Daniel Amell and Emily Beare‘s listing at 100 Eleventh Avenue, 19A featured on the Wall Street Journal last week? The sale at architect Jean Nouvel’s jewel overlooking the Hudson River was exclusively featured in “Private Properties.”

Click here to read the full article: Actor Kelsey Grammer In Contract To Sell New York Condo



 

Dwell Diaries: 311 West Broadway, 6E

13 June, 2017 posted by: CORE

Dwell Diaries provides a peek at a “day-in-the-life” in one of CORE’s exclusive listings. From master suites to neighborhood hotspots, our diary doesn’t spare a detail.

Starting the day 311 West Broadway, 6E is nothing short of spectacular, especially given the home’s unique triple exposure facing east, north and west that brings the morning sun indoors. A large, open kitchen with state-of-the-art appliances provides the perfect setting for whipping up a petit déjeuner at your leisure. 311 West Broadway features a multi-tiered courtyard ideal for taking your breakfast al fresco during the spring and summer months. Should stepping out for coffee and breakfast be more your style, why not take this morning ritual to the Cupping Room Cafe just down the block? Classic American eats in an exposed brick cafe like this one is quintessential Soho.

Outfitted with a stunning 28-foot entryway, 311 West Broadway, 6E also includes an impressive gallery with multiple art walls as well as a corner great room – perfect for the homeowner who collects art, books and other media. With the vibrant and historic neighborhood of Soho just a step outside of 311 West Broadway, there is no shortage of shops and galleries for one to complete their collections. Galleries like the Soho Photo Gallery, Team Gallery and Broome Street Gallery are just a few blocks away and are perfect for stopping by during an afternoon stroll. Fortunately, Soho never lacks fabulous eateries should dining out for lunch be on your afternoon agenda. Soho staples like Jack’s Wife Freda and Osteria Morini are plentiful as well as the iconic Cipriani Downtown and David Burke Kitchen that both offer upscale fare in one-of-kind al fresco settings.

Even though this full-service condo at 311 West Broadway features a fitness room, you don’t have to go much farther if you wish to switch up your workout regimen. Luxury workout locales such as Physique 57, Equinox and SoulCycle are only blocks away from 311 West Broadway, 6E. As the evening nears, there is no shortage of inspiration found among the Soho streets. If a night on the town is your style, a rooftop cocktail at the contemporary and elegant Jimmy at The James Hotel is the perfect final stop before heading home. Endless natural light, pin drop quiet atmosphere and proximity to the best of what Soho has to offer – what more could you ask for at 311 West Broadway, 6E?



 

Commercial Basis: Location Intelligence & the Future of Real Estate

12 June, 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.

The explosion of data collection from many newer sources, including mobile devices, car sensors, wearables, smart power grids, and drones has not yet fully infiltrated the real estate investment and location decision making process. But technology companies like Brooklyn-based CARTO are starting to usher in change. Founded in 2012 by a team of experts in geospatial development, big data analytics and visualization, CARTO organizes and maps data from multiple sources and allows its software users to access and capitalize on this information. For instance, in London, CARTO developed a live interactive mapping application of London’s residential markets overlaying annual home price changes, population growth, transit connectivity, active and future residential and commercial development and infrastructure projects and other datasets. To be able to visualize integrated data sets is what provides users a way to analyze trends and forecast (and map) growth in property values and other key indicators.

As retailers face the headwinds of internet sales and changing tastes, the ability to target prospective store shoppers with the merchandise they are most likely to purchase becomes critical. Socio-demographic profiling and segmentation of population  by housing, age, income and lifestyle by data aggregators, like Claritas, has been around for decades. But CARTO has taken population segmentation data to the next level in terms of visualization and analysis. The firm worked with the 95-year-old French home improvements retailer, Leroy Merlin to integrate and map live sales information and customer demographic data to not only analyze competitors and where Leroy Merlin’s customers come from, but to continually update on a store-by-store basis exactly the households the chain should send marketing collateral. One can imagine that this mapping database will become the most crucial tool the company uses as its grows its 300 location across France and 12 other countries.



 

House Call: 75 Grand Street, 3EAST

09 June, 2017 posted by: CORE

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

Jessica Chestler
Lic Real Estate Salesperson
212-612-9683
jchestler@corenyc.com

THE DETAILS
Offered at $2,995,000, this loft in Soho maintains many original details including tin-covered ceilings and oversized windows while boasting two bedrooms, a den and a pantry/laundry room. With nearly 11 foot ceilings, you don’t want to miss a tour of this historic loft in the heart of Soho this Sunday!

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


 

Hot Topic: CORE Agents Rank Among Top in Manhattan

07 June, 2017 posted by: CORE

CORE ranks among Manhattan’s top agents once again! Last week, agents Doron Zwickel, Emily Beare and Jim St. André were featured on The Real Deal. Doron and Emily ranked on Manhattan’s “chief closers” list, while Jim was named one of the city’s top listing agents. Click the links to read the full story and see Doron and Emily’s interviews.

Click here to read the full articles: Manhattan’s chief closers & Manhattan’s top listing agents



 

Trends & Tides: Agent Referral Fees and Entitlement

05 June, 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.

There have been many times over the course of my 25-year-long real estate career in which I have sent a friend, family member or customer to an agent in another city with the expectation of receiving monetary compensation for my referral. On many of those occasions, I took on the role of a liaison between my customer and the agent to whom I referred. In the spirit of adding value to a transaction and actually earning my referral fee, I would provide advice, guidance, opinions when asked and even assist with negotiations on some occasions. That said, there were also times where I simply made a phone call to another brokerage in the area in which my customer was searching and was pleasantly surprised months later when I received a check in the mail that could be as high as six figures for merely making a connection. With referral fees typically ranging between 10% and 40% of the broker’s side of the commission and 25% being an unwritten industry standard, the opportunity to make serious income abounds.

So many in the real estate industry believe that simply providing another agent with a qualified, ready, willing and able buyer or seller entitles them to a piece of that commission. Others feel strongly that they should add additional value to the experience in order to “earn” their referral fee. I feel quite strongly that unless you are at minimum vetting the agent with whom you’re suggesting your customer work or staying connected as a liaison and adding value to the transaction, then you are not entitled to a referral fee.

Most recently, it dawned on me when a long time loyal customer of mine called me to tell me that they had gone to contract on a large parcel of land in another part of the country. My initial reaction was “ouch, that stings” as the referral fee would have been upwards of $500,000. I immediately considered contacting their agent to “introduce myself” as their referring agent. Seriously! I was actually going to call and suggest that I get paid nearly $500K for a transaction in which I played absolutely ZERO part. ZERO! I know for certain that many agents do make an effort to insert themselves into deals in which they have played no part. After I calmed down and really considered all aspects of the situation, it dawned on me that I was not in fact entitled to take nearly a half a million dollars out of another agent’s pocket. I added no value and I didn’t even make the connection between the agent and a ready, willing and able buyer.

In short, it is my opinion that adding value to a transaction in which you have referred a buyer or seller is the only thing that entitles you to a referral fee. 


 

House Call: 15 Renwick Street, TH3

02 June, 2017 posted by: CORE

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

THE DETAILS
Offered at $5,900,000, this 3-bedroom, 3.5-bathroom multi-level townhouse with an open flow living room features 18-foot ceilings and a private yard. Located on a single-block street, one of only a few in New York City, this home offers a one-of-a-kind tranquil sanctuary. Be sure to stop in this Sunday for a tour of this Hudson Square home!

THE HOUSE CALL
Sunday, Jun 4th, 12:00 – 1:00pm


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