George Soros's Daughter Wants $25M for 1844 Village House

CurbedJune 30, 2014

In 2006, billionaire George Soros's daughter, Annabel Soros Colombel, picked up a Greenwich Village townhouse on 10th Street just west of Fifth Avenue for what was then a record $11.5 million. What a different eight years makes: after some renovating, the philanthropist and her husband have just put their ridiculously luxurious 21-room Village home on the market for $24.5 million. That's actually a discount from when the five-story house first listed, in 2012, for a whopping $29.5 million. As per the Times, here's what the newly "discounted" price tag will get you: seven bedrooms; 8.5 baths; an elevator; three wood-burning fireplaces; a garden, terrace, and other outdoor spaces; a gym with a ballet barre and sauna; a "children's province" on the fourth floor, and a "meditation room." Don't forget about the $84,099 in annual property taxes! Sadly, there is no floorplan available, We've got ourselves a floorplan! And do check out the photos.


The best worst funniest thing about this house is the proclaimed lack of urgency to sell. (Guess when you're a Soros, $25M here or there is no big deal.) CORE's CEO Shaun Osher said: "Yes, it's back on the market, but it's not like they have to sell it... I priced this to sell, but not to give it away." Well then.

Five Stories of Luxury

The New York TimesJune 27, 2014

A classic brick Greek Revival townhouse at 10 West 10th Street, one of the more idyllic of the tree-lined residential blocks in Greenwich Village, is poised to enter the market at $24.75 million.


The annual property taxes on the five-story residence, built just west of Fifth Avenue in 1844 but progressively and luxuriously updated since then with no 21st-century mechanical or cosmetic detail overlooked, are $84,099.


The 26-foot-wide, nearly 8,500-square-foot home takes up its entire lot, providing unusual depth and adding an eastern exposure to several of its 21 rooms — the front facade faces north, its primary exposure. The formal entrance is on the parlor floor atop the front steps, but there is a garden-level entry for staff, or those disinclined to climb stone stairs. The interior of the house is served by an elegant spindle staircase as well as an elevator.


The townhouse has seven bedrooms, eight-and-a-half baths, three wood-burning fireplaces and multiple outdoor spaces, the most prominent a serene and private 26-by-13-foot planted terrace on the top floor. The 34-by-10-foot home gym in the basement has stone walls, a ballet barre and an adjacent sauna and steam shower.


On the parlor level, where the ceilings are about 12 feet high, the 16-by-24-foot living room off the foyer has a white marble fireplace, decorative molding, oak herringbone floors and two north-facing floor-to-ceiling windows overlooking the street. The living room connects to a 16-by-20-foot formal dining room with a fireplace and glass doors that open onto a 15-by-11-foot terrace with eastern exposures.


There are a powder room and a recessed butler’s pantry off the main hallway. According to the listing broker, Shaun Osher, the chief executive of CORE, the design of the opulent paneled library/den at the back of the parlor level was added by the current seller, the philanthropist Andrea Soros Colombel, after she and her husband, Eric Colombel, acquired the property eight years ago for a then-record price, $11.5 million.


Mr. Osher said the couple also commissioned a major renovation of the 25-by-11-foot kitchen on the garden level; it now has a French-made, burgundy-hued La Cornue range, a Wolf double wall oven, blond wood cabinetry, glazed terra-cotta tile walls and backsplash, and marble countertops. There is a supplemental service kitchen, a 10-by-14-foot breakfast room, a staff office, and just off the garden-level entrance, a 17-by-14-foot guest suite equipped with its own kitchenette and tile bath.


The 16-by-24-foot master suite, augmented by a 15-by-9-foot corner library and an auxiliary 12-by-15-foot bedroom/nursery/study with a fireplace, encompasses the entire third floor. A walk-in closet/dressing room, with three walls of built-in cabinetry, leads to the master bath, which has an oversize soaking tub, a corner glass shower, a marble vanity and mosaic tile walls.


The fourth floor is set up as a children’s province. A 25-by-17-foot playroom with an en-suite bath has north-facing windows above the street, and there are two more bedrooms and baths. The fifth floor is all about relaxation: The 19-by-21-foot family room has skylights and a wall of glass interspersed by French doors that open onto the north-facing main terrace. The adjoining casual “breakfast kitchen” and dining area open onto a 12-by-12-foot side terrace, and there is a small bedroom or “meditation room” tucked at the back.


The townhouse was listed with the Corcoran Group for $29.5 million in late 2012 but was later withdrawn. Mr. Osher, the listing broker for the record-setting sale in 2006, said his fondness for the property and his conviction that he could sell it quickly because of its immaculate condition and its location motivated him to approach Ms. Soros Colombel, whose father is the billionaire investor/philanthropist George Soros, with a new marketing plan.


“Yes, it’s back on the market, but it’s not like they have to sell it,” Mr. Osher said. “I priced this to sell, but not to give it away.”


Ms. Soros Colombel, commenting via email, said, “The house is perfectly located and a rare find because of its size, condition and beautiful details.”


Mr. Osher said he fell in love with the house the first time he sold it. “It’s like a real New York City gem on a special block, a rarefied space from the sidewalk to the roof deck and everything in between,” he said. “I feel like our price will be very attractive to the educated townhouse buyer.”

George Soros’ Daughter Re-lists Townhouse for $25M

The Real DealJune 27, 2014

Andrea Soros Colombel, philanthropist daughter of billionaire investor George Soros, has put her five-story Greenwich Village townhouse back on the market for $24.75 million.


The 19th-century house at 10 West 10th Street, between Fifth and Sixth avenues, has 21 rooms across 8,500 square feet. There are seven bedrooms, eight-and-a-half bathrooms, a basement gym and three fireplaces. Shaun Osher, head of CORE, has the listing.


Colombel and her husband paid $11.5 million for the home back in 2006. Six years later, after extensive renovations, they listed it for $29.5 million, then took it off the market shortly after.



“Yes, it’s back on the market, but it’s not like they have to sell it,” Osher told the New York Times. “I priced this to sell, but not to give it away.” [NYT] — Mark Maurer

Neighborhood Search Leads to NoHo

The Wall Street JournalJune 26, 2014

After moving to New York City from Brazil, the homeowners lived in, and looked at, several neighborhoods for their growing family before finding the right fit in NoHo


The hallway of the apartment is shown. Mr. Jereissati works in finance and Ms. Jereissati was a fashion designer who specialized in children's clothes and now works as a fashion consultant. The couple have three children; two daughters aged 13 and 4 years old, and a son, six years old. The couple moved here from Brazil for Mr. Jereissati's work. Initially they lived in the Upper East Side in a rental building, which they found convenient, but they didn't feel like the neighborhood had 'the right vibe' for the family., Mr. Jereissati said.


The living room is pictured. The couple had visited New York City before, but weren't familiar enough with its neighborhoods to know what would work for them. 'It's one thing to come for four, five days, it's another thing to come for a place for yourself,' Mr. Jereissati said. After a few months on the Upper East Side, the family decided to try living downtown, where their daughter was accepted into school. They moved to TriBeCA and stayed there for two years.


When the couple were expecting their son, they decided to look for a larger space in a neighborhood other than TriBeCa, which felt a bit too far south for the family, and not 'like a place we wanted to be in for the long haul,' Mr. Jereissati said. They set out on a year-long search, looking at neighborhoods like Chelsea, the West Village, SoHo and NoHo. 'When we came across this place, it had a lot of things we wanted,' Mr. Jereissati said.


Custom bookshelves are pictured in the living room. The apartment was basically move-in ready for the family. The building, located close to several subway stops and with only six units, felt 'very private,' Mr. Jereissati said. At the same time, there was an opportunity to get to know neighbors through co-op meetings, he said.


The apartment's open plan kitchen is pictured. The couple viewed over 40 homes and looked at this one three times before putting in an offer, the only offer they made other than a space in Chelsea. 'We were being very critical,' Mr. Jereissati said. When they first moved in they didn't do much to the space other than painting. Wardrobes and built-in cabinets were painted white, which 'brought in a lot of light and amplitude,' to the space, Mr. Jereissati said.


The master bedroom is pictured. An elevator opens directly into the approximately 2,300-square-foot apartment, which has two bedrooms, an additional room that could be used as an office, two full bathrooms and one half bathroom, as well as access to a roughly 200-square-foot basement storage space, according to listing broker Martin Eiden. The building has a shared roof deck.


Last summer, the couple gut renovated the apartment's bathrooms. The spaces were done in light tones with white marble and tile, giving them a 'clean, modern look' that was still 'cosy,' Ms. Jereissati said


During the renovation, the couple gave their daughter a budget to buy furnishings for her bedroom. 'She did it to her taste, under our supervision,' Mr. Jereissati said, adding that it was a 'good opportunity' for her to learn the cost of things. She also picked up some negotiation skills, Ms. Jereissati said. Spying a carpet in a SoHo store that she liked, she told the store owners it was outside of her budget and was able to negotiate an over $900 discount, according to Ms. Jereissati.


During the renovation of the apartment, the walnut floors were refinished and a built-in bed was installed in the children's bedroom, which gave them more 'more space to play,' Mr. Jereissati said. The couple estimate they spent almost $300,000 on improvements to the home.


A second bathroom is pictured. The couple has decided to sell so that they can be closer to their children's schools, which are now uptown. Mr. Jereissati said it will be hard to find another neighborhood he can love as much. 'We're going to trade off what I think is the best block in the best neighborhood for something that's very far...but something's got to give,' he said. 'If we could move the schools to where the house is, that would be perfect, or if we could move NoHo to the schools, that would be perfect,' he said.


'I have the sense of neighborhood here,' said Ms. Jereissati, who said she's enjoyed the nearby shops, restaurants and taking her kids to Washington Square Park, a ten minute walk from the apartment. 'It's close to everything I love, but I'm not in the middle of things,' she said. The water fountain at Washington Square Park is pictured on June 22.


A view of Great Jones Street from the apartment is shown. The apartment was first listed in 2012 and again in 2013 for around $3 million before it was renovated. It was relisted in mid-March for $3.7 million before reaching its current listing price of $3.425 million. Patrick Lilly and Martin Eiden of CORE hold the listing.

Where Actors Are Living in New York

Gotham MagazineJune 25, 2014

Are Leo DiCaprio’s days of wanderlust coming to an end? Is the poker-playing thespian finally hankering to settle down? It would appear so by his recent real estate purchases. After tantalizing New Yorkers by looking at almost every high-end trophy property on the market, DiCaprio has finally made a bold real estate move. The Wolf of Wall Street star recently closed on a $10 million apartment in a new luxury building earning kudos for its healthy built-ins.


The Delos building at 66 East 11th Street includes a circadian lighting design that offers “dawn simulation,” and has other healthy details like “heat reflexology flooring” for posture, vitamin C–infused showers, a circulated aromatherapy air supply, and an herb garden in the chef’s kitchen. This buy follows DiCaprio’s $8 million March purchase of a 2,300-square-foot two bedroom apartment—where he is reportedly living with 22-year-old gal pal Toni Garrn—adjacent to his $4 million home, which he bought at 2 River Terrace in Battery Park City


Jake Gyllenhaal has also been in the hunt downtown. The actor, who will be filming Southpaw this summer, checked out a Federal-style three-story home on a cobble stoned street in Tribeca. The landmarked 21-foot-wide dwelling at 37 Harrison Street, known as the William Hunt House, has 13½-foot ceilings, six wood-burning fireplaces, and a private garden as well as a $3.75 million asking price. The three-bedroom, two bath house was built in 1828 and landmarked in 1969. The listing brokers are Core’s Tom Postilio and Mickey Conlon, stars of HGTV’s Selling New York, whose open houses have led to lines around the block, even on rainy Sunday mornings—and that’s exactly where and when Gyllenhaal was reportedly spotted sporting a low-key grunge look with ponytail and beard. 104 Fifth Ave., 17th Fl., 212-609-9100


The Upper West Side, long a playground for actors, is also seeing a spike in celebrity activity. Demi Moore has put her sprawling San Remo triplex apartment on the market for an eye-popping $75 million. The Emery Roth–designed building is famous for its Art Deco style and high-powered residents who, over the years, have included Donna Karan, Steven Spielberg, Glenn Close, Diane Keaton, Tiger Woods, Dustin Hoffman (who sold his San Remo triplex for $21 million in February), and Steve Jobs. For $75 million, Moore is also throwing in a two-bedroom ground-floor apartment that can be used for staff or guests, according to the New York Post.


Moore’s apartment, however, has already had its own 15 minutes of fame. It made headlines last year when TMZ reported that Moore demanded Ashton Kutcher pay for renovations to the triplex in her divorce proceedings. We’re guessing that the renovations were made and are part of the reason why the triplex is listed for so much. The listing broker is Adam Modlin, of the Modlin Group. 200 W. 57th St., 212-974-0740, ext. 15


Also on the Upper West Side, Hank Azaria, best known for his voice-overs on The Simpsons, scored a $9.2 million apartment at 75 Central Park West. This is a big move for Azaria, who was downtown at 84 Mercer Street, where he sold his flat last year for $8 million, according to the New York Observer. Azaria’s new apartment is in a 1928 building designed by Rosario Candela. The listing broker was Stribling’s Valerie Artzt. 924 Madison Ave., 212-585-4525



Find an Architect Service Launched

Real Estate WeeklyJune 25, 2014

In partnership with the Wall Street Journal/WSJ Magazine, CORE, and Dwell, Architizer -- the largest platform for architecture online -- announced the launch of Find an Architect, the first service to connect real estate developers, investors, and private owners with the qualified potential architects for their upcoming projects.

Marc Kushner Offers Blueprint for Linking Developers, Architects

The Real DealJune 24, 2014

As of today, you can add design expertise to the growing list of goods and services real estate developers can procure on the web.


Architizer, an online community for the architecture community, on Tuesday launched Find An Architect, a service aimed at connecting real estate developers, investors, and private owners with architecture firms, both local and global.


“Architecture is still filled with mystery and finding an architect can become incredibly daunting,” said Marc Kushner, CEO of Architizer and an alum of Harvard’s Graduate School of Design. “This is a way to create transparency and open up the industry and turn it back to a client-facing profession.”


Similar projects have taken off in the past, albeit on a more limited scale. Porch, Houzz, and Sweeten are all portals that help potential clients decorate and remodel their homes and gardens.


Find An Architect, however, solely targets commercial, institutional, and ground-up residential developments.


It works like this: would-be clients submit a project to be posted anonymously on the website. Firms that have some interest in the project then submit their applications through the online portal. Architizer vets the applications and, within a week, provide the client with a list of qualified submissions, based on level of experience, previous works, and geographical location. The client then selects a firm from that list.


Not surprisingly, only companies that have registered on Architizer’s website are eligible to participate to the Find An Architect marketplace. There are no initial fees for clients during the Find An Architect beta, which should run for the summer, Kusher said. After that, developers and other clients will be charged less than $1,000 to use the site, although different fee structures will be in place for residential, commercial and institutional projects. Architecture firms will be charged $95 for each entry.



Architizer started the Find An Architect project in collaboration with the Wall Street Journal, WSJ Magazine, Dwell and brokerage CORE.

{FunnelCast Contributor} It's Simply Staring You in the Face! | By Shaun Osher

The News FunnelJune 23, 2014

The best ideas are usually the most obvious ones, and they are the ideas that are the most simple. They are the ones that, when implemented, don’t seem that complicated, and almost as if they should have always been there. Sometimes, they have the ability to revolutionize an industry (Uber is a great example of this). The same rules apply to real estate. If you try to overthink it or overcomplicate the deal, it won’t work or be as effective.  When it comes to marketing, selling, negotiating, or buying, it is always best to keep the idea simple and uncomplicated. This will enable you to get right to the heart of the matter and achieve your end game.



By: Shaun Osher

Good Morning New York Real Estate

Voice AmericaJune 23, 2014

Parul Brahmbhatt is featured in this weekly online real estate segment, discussing topics such as bidding wars, million-dollar studio listings and tough negotiations.

A Night for Celebrating the New Lonny Relaunch: Making Home Design Glam

ExaminerJune 21, 2014

Earlier this week, Lonny Magazine, an online home design magazine with offices in Silicon Valley and New York, threw a party in partnership with CORE at one of the real estate brand's Soho penthouses at 111 Mercer Street to celebrate Lonny's recent relaunch. The new Lonny is very accessible, as it can be viewed via desktop, tablet, and mobile, and functional with a very clean, organized layout. It also features videos on home design and impressive slideshows. The brand recently featured Cindy Crawford on the cover of its May 2014 issue to kick off Lonny’s relaunch, followed by Bridget Coulter on the cover of its June 2014 issue. The magazine is quite entertaining and offers a good variety of home design topics. Attendees at the party, which included top designers and creatives, were thrilled about the magazine’s redesign.



At the event, guests enjoyed rosé wine and specialty cocktails provided by Lillet and Hendrick’s Gin. Guests were also served small bites such as pita triangles and hummus, tarragon chicken, spring rolls, red beets, eggs, and tomato on toast. The entire venue was decorated for the party by using brands such as Anthropologie, CORE Real Estate, Sugar Paper Los Angeles, Flower Muse, and Calico Wallpaper. There were even white Lonny coasters with gold writing placed throughout the party venue that had sayings such as “But first, let me take a #selfie,” “Raise your glass! #Cheers,” and “This _______ (noun) is #Everything.” It was a perfect day to be on a rooftop and celebrate. Be sure to check this cool online magazine out!

Instagramming the Night Away at Our Relaunch Party

Lonny MagazineJune 20, 2014

The Lonny Relaunch Party, Starring the Penthouse at 111 Mercer!
CORE’s swanky $12 million pad—one of NYC’s hottest listings of the moment—was the setting for our festive cocktail soirée.

Architizer Launches Online Tool, Find An Architect

The Editor at LargeJune 20, 2014

“Architecture is a profession that touches everyone…and yet finding an architect is a task filled with mystery and frustration,” said Architizer founder and CEO Marc Kushner, who recently launched a tool to simplify the process of finding an architect. “Sites like ZocDoc and Angie's List have proven the efficacy of using the internet to find and contract professional talent. It’s time to do the same thing for architecture.”

Find An Architect delivers a regular digest of vetted project opportunities to the Architizer community. The result is a time and money saving opportunity for clients to access the world’s best architects with minimal risk—a curated packet of applications are delivered in under a week and posting a project is free during the beta period. Architects are may apply through the Architizer platform.



While services like Houzz target the substantial residential renovation market, Architizer targets the even bigger ground-up construction market, according to Kushner. 

“Finding the right architect for a development project is critical to the brand, vision, and ultimate success of that project,” said Shaun Osher, Founder & CEO of CORE. “Find An Architect is a much-needed and valuable resource to match the right architect to a project.”

The site was created in partnership with The Wall Street Journal, CORE and Dwell. According to Architizer, each of the partners share the vision that a great building starts with a great client and architect coming together. Each partner will be involved in different strategic programs with Find An Architect. Details will be available as the programs roll out.

Fort Greene Townhouse to Sell for $600,000 Over Ask

CurbedJune 18, 2014

Although we're not quite in the heady days of last summer (yet), the Brooklyn townhouse market is still certifiably insane. For proof, look no further than the impressive-but-in-serious-need-of-renovation townhouse at 252 Carlton Avenue in Fort Greene, which was listed for $2.595 million, attracted 110 visitors and 22 offers in five days, and, a month later, went into contract for $3.2 million. According to its broker, it will need at least an additional $800,000 in repairs, including replacing the roof, floors, electrical, and plumbing. The 1864 house has undeniably great bones, though, and in this day and age that seems to be all that matters. As the sale has yet to close the identity of the buyers is still a mystery. [UPDATE: The sale has actually closed already.]

Tribeca Condo Earning its Worth

Brokers WeeklyJune 18, 2014

It may be hard to remember now, but there was a time when few believed condo prices in Tribeca would ever reach $2,000 per s/f.


As late as 2009, frozen credit markets and the specter of a looming recession gave little reason for optimism.


The Israeli developer, Izaki Group Investments (IGI), was one of the first firms to enter the market in the anxious post-meltdown days, and its bet is now paying off. 


IGI's 92-unit condo conversion at 93 Worth is almost fully sold, with only a $7.35 million penthouse and a $1.9 million one-bedroom remaining on the market. It seems only a matter of time before those units will be gone, too. CORE's Doron Zwickel, who handles sales at the building and helped with the planning, told Brokers Weekly that he is showing the penthouse about six times a week -- an impressive frequency at this price level. 

Fort Greene Fixer-Upper Sells for $600K Above Asking Price

DNA InfoJune 18, 2014

FORT GREENE — A fixer-upper townhouse in Fort Greene's hot real estate market sold for $3.2 million — $605,000 more than the asking price — even though it needs about $800,000 in work.


Over the course of five days, 110 people visited the Italianate townhouse at 252 Carlton Ave., a block east of Fort Greene Park, and 22 made offers, according to CORE real estate agent Doug Bowen who brokered the deal with Paul Johansen.


None of those offers were below the asking price, he said.


"It's an extremely competitive market," Bowen said, noting that the four-bedroom house built in 1864, needs approximately $800,000 in upgrades, including a new roof, floors, electrical work and plumbing.


But the 19th-century details — including arched frames, ornate plaster moldings and medallions, original woodwork and mantels — make the house highly desirable.


"It's a trend," he said. "More people are purchasing properties and reinterpreting them for today's use."


The 4,100-square-foot property is currently split into two units, with a garden apartment on the ground floor and a three-story home above.


The potential new owners plan to convert the space to a single-family home, Bowen said, noting that the previous owner, who lived there for more than 25 years, is happy with the sale.



"Everyone at the table was very pleased with the deal," he said.

Coffee Purveyor from Greece Heading to East Village

Commercial ObserverJune 18, 2014

European-influenced café and coffee bar Maza Loukouma and Espresso Bar is planning to enter the U.S. market via the East Village.


Maza signed a 10-year lease last month for 500 square feet on the ground floor, plus a basement for storage, at 30 Carmine Street between Bleecker and Bedford Streets. The asking rent was $300 per square foot, Eastern Consolidated said. The firm’s James Famularo and Ravi Idnani represented the landlord, 30 Carmine St. LLC, in the deal. CORE‘s Leora Aimee Hasas and John Harrison represented Maza.


“The storefront with 20 feet of frontage in this well-established location is a prime opportunity for the new coffee bar concept,” said Mr. Famularo in a prepared statement. “Given the highly trafficked neighboring retail locations, we believe Maza is sure to be a success.”


When Maza opens in the fall, it will serve coffee, wines and healthy Greek breakfast, lunch, and dinner options.


Maza will occupy space lease by MetroPCS store and a shoe-repair shop, which leased space there for 30 years, Mr. Famularo said.



The company is looking for other locations in New York City including in the Financial District, CORE’s director of communications said.

Last Night's Parties: Reformation Celebrates Its New Collection With A Tiki Party, Maggie Gyllenhaal Steps Out For The "Boyhood" Premiere & More!

Guest of a GuestJune 18, 2014

Where: The Penthouse, 111 Mercer Street

Other details: Lonny Magazine feted its recent re-design with over 300 of New York's interior design glitterati on June 18th at a 3,500 sq. ft. luxury SoHo penthouse at prestigious 111 Mercer St. Notable guests such as designer and TV personality Thom Filicia toasted Lonny's Outdoor Entertaining issue with Executive Editor Irene Edwards and VP of Content John Newlin along with listing brokers Emily Beare and Christian Rogers of CORE. Guests took full advantage of the triplex's three terraces while sipping Lillet and Hendrick's cocktails and nibbling on small bites prepared by PS Tailored Events.


Go HERE for more photos by Natalie Poette from the Lonny Magazine Relaunch Event

Greek Yogurt with a Coffee Chaser

Crain'sJune 17, 2014

Café hopes that there's more to New Yorker's love of Greek cuisine than cultured milk. Owners of Maza Loukouma and Espresso Bar hope their Village outpost will be the first of many.


Greek-style yogurt has been an increasingly popular choice for New Yorkers in recent years. Now one entrepreneur is hoping Greek coffee might catch on as well.


Maza Loukouma and Espresso Bar, a new café serving java roasted in Greece, and also offering healthy doughnuts and savory pies, recently signed a 10-year deal for 500 square feet at 30 Carmine St., between Bleecker and Bedford streets. Asking rent for the space, which includes an additional storage basement, was $300 a square foot.


The coffee shop, which is scheduled to open for business in late summer, was lured to the area by heavy foot traffic and nearby retailers such as Blue Ribbon Bakery and Greenwich Village Bistro.


"There's a big explosion of coffee in New York City, but this is something New Yorkers haven't seen before," said Leora Aimee Hasas, the CORE broker who, along with colleague John Harrison, represented Maza. She noted that Maza is currently searching for additional locations here.


Maza's space will be the combination of a former shoe-repair shop and a MetroPCS store. Landlord 30 Carmine St. LLC was represented by James Famularo and Ravi Idnani of Eastern Consolidated.

Seeking Apartment: North of Houston, South of $6 Million

Bedford + BoweryJune 17, 2014

The B+B offices are right here in Cooper Square, so we spend a lot of time walking the cobblestones of NoHo, wondering if we’ll ever get to live in one of those $23,000-a-month penthouses (this while we’re splurging on a Papaya Dog for lunch). So when a representative of CORE invited us to tour some luxe properties in our own backyard, we couldn’t resist. Come along as the brokerage firm’s director of communications, Erin Ryder, shows off some pads that are a smidge pricier than the $150-a-month A.I.R. lofts of yore.

43 Great Jones 
3-bedroom (or two-bedroom, one home office)

Our first stop is in a six-story coop on Great Jones. There’s storage space in the basement, and a rooftop garden. One of the apartment owners is a beekeeper.


As we burst into the sun-filled apartment, sales agent Martin Eiden assured us, “The fire engines don’t turn their sirens on until the end of the street.” The station across the street might be one of the reasons the home has been on the market three months (the original asking price was $3,700,000).


Eiden has shown the apartment to fifty groups. He tells us the space “attracts the self-made individual, who likes their privacy. They did the whole limelight thing and now when they come home they don’t need that flashy stuff.”


The hallway wall is noticeably bare. “We removed the art,” says Eiden. “Otherwise showings just turn into an art conversation.” I ask what was there. “Oh, nothing offensive! But it was big art,” he says.


This is the third time Eiden has sold the space: it sold for $1 million in 2004 and then, after $500,000 in renovations, it went for $2.5 million in 2007. The current owners refinished the floors (now solid walnut) and refurbished the three bathrooms. The sizeable floor in the second bedroom’s en suite bathroom is composed of two gigantic marble tiles: waxen grave-sized chunks of stone. Meanwhile, the master bedroom’s en suite has a shower/steam-room area, in additional to a two-person-sized tub. “They did go a little over the top on the bathrooms,” Eiden concedes.


Despite the amenities, Eiden assures us that this is a groovy, eclectic little spot. “It was one of the original artist loft buildings,” he tells us. Basquiat had his studio on Great Jones, and died somewhere on the pavement outside. “So that’s a fun fact,” says Eiden. “It’s always been a very colorful street.”


The building itself gets into the community spirit—it’s “the classic anti-doorman building.” A self-managed co-op, everyone has a little task to do. The unit in question is in charge of keeping the lobby in order. “But that’s super easy,” Eiden reassures us. “When your cleaning lady cleans your house, she can just mop the floors down there.”


30 Bond Street
$5.5 million

Our second potential home is in a six-residence building that’s tucked next to Herzog and de Meuron’s green monster at 40 Bond. The storefront is a high-end showroom for jewelry. As we arrive, sales agent Tony Sargent is escorting his latest showing (a be-suited gentleman and a beautiful blonde woman in black lycra sweatpants) out of the building.


Sargent is a strapping fellow who worked in the building that housed Tower Records (at Lafayette and Fourth St) in the early ’90s. “People used to flock there,” he recalls. “But no one came down here.” Now, “when you look around you, you see new and old,” says Sargent. “I honestly think this is the cultural heartbeat of New York.”


The apartment is remarkably spacious and light, outfitted in “Scandinavian” minimalist style, and with a private, sizeable outdoor patio. Sargent has already seen 25 groups in the five days it’s been on the market. “There’s a pent-up demand for penthouse lofts with truly special outdoor space,” he confides. Mostly, the groups have been composed of “a lot of successful creatives” and Europeans. We ask about interest from the Russians. Erin dismisses the thought: “That’s kind of on its way out.”


There’s currently a photographer on the sixth floor, says Sargent. “I think there’s quite a few artists in here,” he adds vaguely. (One would hope so given the still ostensibly functional A.I.R. zoning laws.) The penthouse’s current tenant is an English attorney plus family.


As we pass the cookbooks in the roomy kitchen, Erin stops. “This book” she says, pointing at Ottolenghi’s Jerusalem, “is in every single CORE listing I’ve ever been in. I see it every time.” Sales of pomegranate molasses and black garlic must be skyrocketing.



We go on a quick jaunt to the rooftop, accessed via an exposed spiral staircase. The patio comes complete with water tank, and a view of the Empire State building. “Creatives love light and outdoors,” Sargent explains. “The actors I’ve seen just fall in love with that—” he gestures at the skylight and by extension the rooftop. “They’re probably from LA,” adds Erin, to explain the actor’s Vitamin D and fresh air requirements.

Upper Story by Charlie Palmer to Replace Astra at D&D Building

New York PostJune 16, 2014

Superchef Charlie Palmer is enlarging and transforming his cafe/events in the D&D Building.


This fall, Upper Story by Charlie Palmer will replace Astra, which closed last month after 17 years.


The D&D Building is owned by Charles S. Cohen, the commercial real-estate mogul who has branched out into film.


His production company released 10 movies last year and will soon release “Breathe In” starring Felicity Jones, Guy Pearce and Amy Ryan.


Upper Story, a completely new venue designed by Scott Salvator, will be 765 square feet larger than its predecessor for a total of over 2,700 square feet. Like Astra, it will be a modern-American restaurant at lunchtime, serving the building’s interior-design community as well as the general public.


At night it will transform into an events space that can seat up to 160. The new design, more plush than before, is meant to complement far-ranging views through windows.


Palmer is on a roll in New York: in addition to his Michelin-starred Aureole on West 42nd Street, he will also run the restaurants in the new Knickerbocker Hotel across the street, and recently made a deal to launch Crimson & Rye on the ground floor of the Lipstick Building.

Land-sale activity in East Harlem has begun to rival that to the west. In the latest transaction, HAP Investment Management bought the southeast corner of Third Avenue and 121st Street for $13 million from Tahl Propp Equities.


The 17,661 square-foot site, now vacant, includes 100 feet of avenue retail exposure.


The website for HAP, which owns several other East Harlem sites, says a planned development will include 120,000 square feet of luxury rental apartments, 26,000 square feet of commercial space, 5,000 feet of parking and 1,000 for community use — all as-of-right.


Eastern Consolidated’s Matthew Sparks, who worked both sides of the deal, cited “huge demand” for new development along Third Avenue, and said the 121st Street corner is “ideal for new construction.”

Next time we get an e-mail from retail brokers touting phenomenal demand and record rents, we’re going to tell them: “Oh yeah? Take a walk on Madison Avenue.”


Right now, we count a half-dozen vacancies on what’s supposed to be the city’s premier, Numero Uno high-end retail drag — the fabled stretch between 59th and 72nd streets.


The total doesn’t include sites currently dark but where new tenants have signed leases — like 747 Madison, where Givenchy is coming this fall.


Nor does it include storefronts under construction, such as the Carlton condo block and the Wildenstein mansion.


It does include only locations which say “retail space available” in the windows. In a truly healthy market, shouldn’t landlords have new tenants lined up before old leases expire — or at least soon after they do?

Maza Loukouma and Espresso Bar, a European-style cafe and coffee bar, has signed a lease at 30 Carmine St. The asking rent for the 500 square-foot ground-floor space between Bleecker and Bedford streets was $300 a square foot.


The landlord was repped by Eastern Consolidated’s James Famularo and Ravi Idnani. Famularo said Maza “will be a great complement” to the neighborhood’s many restaurant offerings, which include Blue Ribbon Bakery and Da Silvano.

Allied Service Center of New York City is moving and growing. The nonprofit signed a lease for nearly 24,000 square feet at 60-64 W. 35th St. between Fifth and Sixth avenues.


The asking rent was in the $45-per-square-foot range.


ASCNYC, a multiservice community organization focused on health and mental care, will move from 41 E. 11th St.


The tenant was represented by a Savills Studley team including executive managing directors Marc Shapses and Joseph Messina. EVO Real Estate repped the landlord.



Shapses said ASCNYC will have its own 35th Street entrance and signage.

Only a Fool Can Time the Market | By Shaun Osher

The News FunnelJune 16, 2014

Or a liar! Real Estate markets move, and they are moving quicker now than ever before. This is in large part due to the fact that technology has made it easier to track inventory, sales, and general consumer confidence - which is usually the most powerful determining factor of most market fluctuations. The smartest thing you can do as a buyer or seller is to ACT! 


Procrastination is the enemy of making a fundamentally good decision. If you consider the fundamentals and reason for your purchase, your goal should be to act swiftly when the opportunity arises.  The market will certainly go up from where it is (at some point in the future), and very possibly go down, but your opportunity will also move. Regardless of where you are looking to buy (or sell), if your reasons to buy (or sell) are sound, and based on factors that are defined by your needs (rather than by making a quick buck) you'll do well. In my personal experience in New York City, over the past twenty years, I have never met a person who regretted buying a piece of real estate. I have only met people who regretted not buying a piece of real estate.


Waiting for that "right opportunity" and "the right time" will paralyze your decision-making process and allow all those tangible opportunities right in font of you to be seized by someone less "smart". At the end of the day, once you've defined the reason you are buying (or selling), make sure your reason is sound. Do your due diligence on the opportunity, and if it makes sense under the current market conditions - dive in. 



By: Shaun Osher

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