News

Featured Listing: 305 East 85th Street, 4A

Luxury Listings NYCMarch 12, 2013

Chelsea: What’s On Your Real Estate Radar?

Luxury Listings NYCMarch 12, 2013

Midtown: What’s On Your Real Estate Radar?

Luxury Listings NYCMarch 12, 2013

Featured Listing: 27 West 19th Street, PH

Luxury Listings NYCMarch 12, 2013

Upper East Side: What’s On Your Real Estate Radar?

Luxury Listings NYCMarch 12, 2013

Featured Listing: Doug Bowen 152 Willow Street

Modern NYCMarch 08, 2013
152 Willow Street is a unique, turn-key, single-family home nestled on one of Brooklyn Heights' best blocks. Built as an apartment house in the 1920's, 152 Willow has undergone a complete conversion to become a one-of-a-kind residence. Each level has been customized to create well-proportioned rooms that comfortably accommodate today’s modern lifestyle. The 3-bedroom, 3.5-bath home has approximately 2,750-square feet of living space plus a fully built-out private roof terrace. All the floors have beautiful eastern exposures that look out to this storied Heights block with additional exposures to the west.

With 31-feet of frontage on Willow Street, you enter through a front patio area at the first level. This level opens onto a well-appointed cook’s kitchen outfitted with Sub-Zero, Viking and Miele appliances and Caesarstone counters there is also a dining area off the kitchen. Travel up the center, sculptural stair to find a relaxing and open plan living room/den level. The next two levels contain two en suite second bedrooms with subway tile and marble baths, and a master bedroom floor with a marble spa bath and fully built-out walk-in closet. There are walnut floors and treads from LV Wood Floor throughout.

What’s Hot: New York’s Latest High-Flying Residences

The Robb ReportMarch 07, 2013
The city that never sleeps is also the city that never stops growing. Each of the following new high-rise developments from top architects presents prospective homeowners with the opportunity to live in a work of art.

One Museum Mile
Residences: Located at 1280 Fifth Ave. with views of Central Park, the 20-story building was designed by Robert A.M. Stern Architects and features interiors by Andre Kikoski. The 113 residences, half of which have been sold, were completed late last year and range from 838-square-foot studios to a 4,963-square-foot, eight-bedroom penthouse.
Amenities: Residences feature open kitchens with Bosch and Thermador appliances, while the building offers a fitness center with terrace, a children’s playroom, a game room, a residents’ lounge, a media room, and a landscaped rooftop deck with a pool and lounge chairs.
Price: $735,000 to $6.94 million
Inquiries: 212.996.1280, onemuseummile.com

The Centurion
Residences: Forty-eight units with one to four bedrooms occupy the 19-story structure designed by the Louvre architect I.M. Pei. A plan to combine the building’s three penthouses has been envisioned by the designer James Stanley, whose video walk-through illustrates his designs for a triplex with five bedrooms, two kitchens, three full baths, a media room, a private elevator, a three-story glass staircase, and a private spa.
Amenities: Inside the homes, which have ceilings as high as 17 feet, are Bosch appliances; teak floors; tinted, sound-insulated windows; and marble and limestone floors and countertops.
Price: $2.8 million to $39 million
Inquiries: 212.888.5633, centurioncondo.com

56 Leonard
Residences: Designed by the Swiss firm Herzog & de Meuron, the 60-story structure will feature 145 residences upon its completion in 2016. Units will range from 1,400-square-foot two-bedrooms to 6,400-square-foot five-bedrooms. The top nine floors will house 10 penthouses with 14-foot ceilings and wraparound views. The building’s stacked design resembles a Jenga tower, with each of its glass-walled units affording a variety of layouts and terraces. A sculpture by Anish Kapoor, who created Chicago’s Cloud Gate at Millennium Park, will rest outside on the building’s first-floor base.
Amenities: The ninth and tenth floors include a library lounge, an indoor/outdoor theater, a 75-foot lap pool, a sundeck with hot tub, a fitness center, and an entertaining area with a dining room and catering kitchen.
Price: From $3.8 million to $33 million
Inquiries: 212.965.1500, 56leonardtribeca.com

Mapping the Priciest Brooklyn Townhouses on the Market Now

CurbedMarch 07, 2013
It has officially become impossible to keep track of all the $3+ million Brooklyn townhouses that have been springing up like mushrooms, or daisies, or other things that spring up all of a sudden because the mushroom/daisy markets have reached their probable apex and everybody who owns a mushroom or daisy simultaneously decides it's time to cash in. There's this place! And this place! This place is already in contract! Rag & Bone's cofounder paid $6.75 million for this place! And with all that in mind, we bring you the ten most expensive Brooklyn townhouses on the market right now [edit: that have come on the market in 2013] (somewhat surprisingly, mostly clumped in Boerum and Cobble Hills), all consolidated into one Brooklyn Townhouse Heatmap.

House of the Day: A Touch of Old Europe in Greenwich Village

The Wall Street JournalMarch 07, 2013
With a faux-finish walls painted to look like limestone and barrel tiles on its wraparound terrace, this Greenwich Village duplex penthouse calls to mind traditional Italian and Spanish architecture. -- Jackie Bischof

It was listed with Emily Beare and Tony Sargent of CORE in February this year for its current listing price of $5.4 million

Luxury Units are Moving Fast at this Red-hot Gray Building on the Upper East Side

New York Daily NewsMarch 07, 2013
19 high-end condos have sold at more than $8 million in two months at 135 E. 79th St. tower.

A rendering of the gray brick facade at 135 E. 79th St., one of the fastest developments in New York history to hit $200 million in sales.

The luxury condo market is so hot on the upper East Side that more than two-thirds of the apartments in one new tower sold out even though the building is far from finished and the sales office is 19 blocks away.

“Several buyers didn’t even to go into the building,” said James Lansill, a senior managing director at Corcoran Sunshine, in charge of selling the units at 135 E. 79th St., which is one of the fastest development in New York history to hit $200 million in sales.

Twenty-three of the 29 condos went to contract in two months selling from an E. 60th St. office. Nineteen homes sold for $8 million plus.

“People are starving for this kind of luxury product,” said Lansill, describing the buyers as upper East Siders in search of a state-of-the-art building and downtown families that want to be closer to their children’s private schools.

An interior garden is one of the many perks at luxury units.

The project, developed by the Brodsky Organization, has a façade made of limestone and gray Flemish brick — and ornamental gates forged by the same company that did the gates at Buckingham Palace.

Inside, elevators open up to private, double-height foyers, which lead to wide hallways and modern interiors.

“We wanted to build something legendary,” said designer William Sofield, who researched iconic buildings up and down Fifth Ave. to perfect this building. “I wanted to make a statement, to design a formidable structure. You look at the façade and you sense strength.”

The building isn’t the only project where buyers are plunking down hard cash from renderings alone.

In Tribeca, at 93 Worth, more than 60 of 92 units are in contract since December. And at 101 W. 87th St. 47 of 62 units went into contract in nine weeks. The building had a 1,000-plus person prospect list — thanks to prices that are half of other comparable luxury buildings nearby.

Rendering of the lobby at 135 E. 79th St. on upper East Side. Nineteen homes have sold for $8 million or more in the past two months.

“I knew if we offered big apartments at a fair price people would come in droves,” said Sonny Bazbaz, who developed the W. 87th St. building. “The city is in again. We have people coming back from the burbs to live here.”

The key to the sales frenzy is low inventory at the luxury end of the market.

“Inventory is at an eight-year low,” said Kelly Kennedy Mack, president of Corcoran Sunshine, a top new development marketing group.“Buyers are responding with bidding wars, fast decision making, and a willingness to purchase from floor plans.”

CORE Names New Chelsea Sales Chief in Advance of UES Office Opening

The Real DealMarch 05, 2013
It may still be a month away, but boutique brokerage CORE has announced a reshuffling of personnel in advance of the opening of its new Upper East Side office next month. CORE senior vice president Ryan Fitzpatrick has been promoted to director of sales at the firm’s Chelsea office, where he will oversee both the firm’s agents and its resale business, a spokesperson for CORE told The Real Deal today. He is taking over from Reba Miller, the current director of sales for Chelsea, who will head the firm’s new office at 673 Madison Avenue office when it opens in April, they said.

Fitzpatrick most recently oversaw sales and marketing for Walker Tower, JDS Development’s new condominium conversion at 212 West 18th Street, and has made sales in excess of $390 million since 2006, according to CORE. While he has been a broker for seven years, he previously led analyses of public debt offerings in the housing sector at Standard & Poor’s and was active in non-profit community development.

“This position is a unique opportunity for me in that it marries my experience in real estate sales with my prior tenure in the corporate world overseeing a team in financial services,” Fitzpatrick said in a statement.

The firm’s new Upper East Side retail office will occupy the second and third floors of a historic brownstone between East 61st and East 62nd streets, The Real Deal previously reported. Jewelry brand Judith Ripka operates a boutique store on the ground floor of the building.

CORE Names Ryan Fitzpatrick Director of Sales for Chelsea Office

March 05, 2013
New York, NY – (March 5, 2013) – CORE is pleased to announce the promotion of Senior Vice President, Ryan Fitzpatrick, to Director of Sales-Chelsea, where he will oversee both the firm’s agents and its re-sale business for its Downtown office. Ryan sales successes have has surpassed $390Million in total sales volume (including units currently under contract and resales) since 2006.

CORE CEO Shaun Osher says, “Having worked as a successful agent for seven years, Ryan's hands on experience has given him a deep understanding of the day-to-day challenges faced by our agents and clients.” Osher adds, “Ryan’s stellar reputation for professionalism and high level of integrity precedes him. His understanding of our culture, brand, and business model at CORE made him a natural choice for this position. I am looking forward to working alongside him.”

Fitzpatrick is excited about the opportunity saying, “This is an exciting time for our industry as the market is so strong. I look forward to building on CORE's incredible resources, specifically its roster of talented agents known in the industry for their knowledge, passion and professionalism,.” Fitzpatrick adds, “This position is a unique opportunity for me in that it marries my experience in real estate sales with my prior tenure in the corporate world overseeing a team in financial services. Working with the strong group of agents, as well as Shaun Osher and the leadership team, I feel we can do something really special.”

Most recently, Ryan has been part of the CORE team overseeing sales and marketing for the record-breaking Walker Tower. Prior to residential real estate, Ryan enjoyed a successful tenure at Standard & Poor’s, where he led analyses of public debt offerings in the housing sector. Ryan also worked in the realm of non-profit community development and advocacy on urban land use issues in New York, drawing on his academic experience at Stanford University where he received his BA. Ryan went on to receive an MBA from Yale University.

CORE’s current Director of Sales, Reba Miller, will transition her role to the new Madison Avenue office opening in April. CORE Madison Avenue is a 3,500-square foot location at 673 Madison Avenue at 61st Street, set in a prime retail location and occupying the second and third floors of a historic brownstone.

About CORE
CORE is a real estate sales and marketing firm delivering the best in brokerage, communications and advisory services for the luxury residential segment. In addition, CORE’s elite group of highly experienced and successful professionals service developers who value efficient, no-nonsense results. CORE was founded by Shaun Osher as a full-service boutique firm with a strict adherence to the principles of integrity, efficiency and results. For more information visit www.corenyc.com.

Selling New York S6E13: That’s a Tall Order

CurbedMarch 01, 2013
HGTV's Selling New York rides along with brokerages CORE, Kleier Residential, and Warburg as they try to sell fabulous properties fabulously. Here's our recap of how the NYC real estate industry is portrayed to the world, penned by Angela Bunt. Episode air date: 2/28/2013.

Well folks, season six of Selling New York is finally coming to an end. The last 13 weeks have been great—really, they have. No no, it's not you, it's me. Actually, it's HGTV. But why bother pointing fingers? Let's just enjoy the last of our time together while we reflect on this week's episode. And if there's anybody who can help turn that frown upside down, it's Warburg Agent Deborah Lupard. Unless, of course, she's trying to look for rentals—for her cousin. Need we say more? We're also introduced to the hunky Tony Sargent, associate broker at CORE. He needs to help a client sell her current apartment, while purchasing one at the same time. Can he get it done before she gets back from vacation? Or will she come home to homelessness?

We get two Lupards for the price of one this week, when we're introduced to Deborah Lupard's curly-cue cousin Rebecca. In a crazy turn of events, Deborah didn't even know she had a cousin until she was getting her nails done and Rebecca introduced herself. So, that's not sketchy at all. Nevertheless, Deborah is now helping Rebecca find a rental. Not her usual forte, but hey, family is family.

Rebecca is looking for a 3BR in Tribeca and has a $10K budget, which seems pretty hefty until she begins to list her requirements: en-suite bathroom, pet-friendly for her 98-pound rottweiler, lots of natural light, large kitchen, and laundry in the unit. Oh, and she only has a month to move. Deborah's response: "Oy." She's clearly already regretting the decision to help her "cousin."

The first rental they check out is a 2BR, 2BA at 84 Thomas Street.

So, already we know that it's missing a bedroom, and what they think is an en-suite bathroom is actually a closet. Right away, Rebecca knows she wants to see more. Anything for you, 'cuz!

They haven't even hit up a second loft yet, and already Deborah thinks they might have to start crossing items off of Rebecca's wish-list. Before bursting her bubble, they head to their next property.

The 2BR, 2BA is listed at only $8,200, but the low price isn't enough to make up for the lack of a third bedroom and the fact that the en-suite bathroom is missing again.

Deborah is starting to display the type of frustration that only your family can induce in you. And Rebecca is displaying the "I-don't-give-a-whatwhat" attitude you can only give to your family, because anybody else would tell you to screw off. In all fairness, despite the laundry list of requirements for the rental, the two biggest things Rebecca had asked for are a third bedroom and an en-suite bathroom, and Deborah hasn't been able to deliver. Is she low-balling her own flesh and blood?

The two meet up at Le Pescadeux to have lunch and regroup. The clock is ticking and they still haven't found the right apartment. Deborah insists upon them checking out a previous listing at 16 Warren Street even though it only has two bedrooms. What Deb calls "concessions" Rabs calls "sacrifice," and tensions are, like, kinda' starting to flare.

Deborah thinks the 16 Warren Street listing is seemingly perfect: $9,595/month, 2BR, 2.5BA. Wait, what? Only two bedrooms? OK, now even I'm starting to get annoyed.

How come they haven't tried to check out a different location? Or possibly upped the budget? Why haven't we seen Lupard bust out some classic real estate tricks of the trade?

When we next meet up with the cousins Lupard they're taking Rebecca's dog Lexi for a walk, which is code for "talking about WTF they're going to do about this unsuccessful apartment search." Fortunately, Rebecca was able to extend her current lease—so she won't be homeless—but that still doesn't change the fact that they can't seem to find anything. Deborah tells her she just needs to look slowly, perhaps make some compromises, and they'll eventually find something. Rebecca nods knowingly, "Yeah, yeah," but her eyes say it all:

To the camera, Deborah goes on an awesome tirade about how awful it is to look for rental properties: "It's always torture. Period. It's just torture." Six weeks later, Rebecca found a three-bedroom apartment with another broker. Well, we know who's NOT getting invited to Thanksgiving dinner this year.

Enough with the family affairs, let's get down to brass tacks. And who better to do so with than this tall piece of man, CORE Associate Broker Tony Sargent. He's working with Sarah Stewart, who—after trying to have a second baby and ending up with twins—needs to find a new space while simultaneously selling her current apartment at 195 Bowery. The only problem is she and the fam are heading to New Zealand for vacation in just a couple weeks. We love a good—gasp—TIME CRUNCH almost as much as we love a—dun dun dun—PRICE DROP!

Tony and Sarah hop to it. While her family needs to sell in order to buy, she doesn't want to end up on the da' streets. So first things first: find an apartment to move in to. They check out a 3BR, 2BA loft in Tribeca (hmm, wonder if Rebecca looked at this one?) listed at $3.6M.

Sarah is easy to please, and with such an awesome apartment, who can blame her? There's an amazing river view, tons of light, and an awesome open floorplan. She loves it, but is so anxious about selling her current pad she's having a hard time imagining living in a new spot. Tony reassures her that his team is working on an open house for her current property, and that he can get the job done.

The next spot they check out is at 28 Laight Street.

Sarah is immediately enthralled with the $3.28M, 3BR, 2.5BA. It has tons of storage space, natural light (of course), and even a playroom for the kiddies. There's no doubt that this is the perfect apartment for her family, but there's just one small problem: she needs to sell her own apartment! Tony, cool as a cucumber, says he will get it done. Time to start planning an open house!

Tony says that, according to his research, folks buying on Bowery are in the arts/entertainment business. He enlists the help of Cole Schaffer, from Culture Fix, to let him use some of the gallery's cool art to make the space pop.

The soiree seems to be successful, but time is short. Tony the Tiger tells the camera that after the open house he's heading straight to the office to call any brokers who expressed interest, so he can get that baby sold. Damn, New York real estate is SO intense.

While touring another property with a different client, Tony receives a call from CORE. There's a bid on Sarah's Bowery apartment for $2.66M. SOLD! He rings her to give her the good news, and you can feel her smile all the way from New Zealand. In the end, he ends up not only closing the Bowery deal, but—more importantly—getting Sarah's new pad for $3.8M. He's gggggreeeeeat!

I loved watching the beef between Deb and Rabs (although the world may never know if they're actually cousins), and Tony the Tiger is probably the best broker I've seen on the show. Also, it's the last episode of the season. So for that reason, I give this episode 5 out of 5 cackling Kleiers.

Manhattan Real Estate for Families: A roundup of luxurious new NYC buildings

New York FamilyMarch 01, 2013
Chiseled from TriBeCa’s distinctive architectural tableau, 93 Worth is a long-established commercial property turned luxury condominium. Restored and modernized from its industrial foundation, 93 Worth provides the conveniences of modern loft living with a surprising level of amenities. Offering 92 units, residents and their families can choose from single-occupancy studio spaces to sprawling four-bedroom spreads. Walking distance to seven subway stations and 14 different lines, the location pairs the conveniences of downtown living with all the modern amenities New Yorkers have come to expect from a luxury condominium. Loft spaces feature customized seven-foot windows, solid wood doors, high ceilings, and exposed steel columns. In addition to round-the-clock concierge and doorman service, the building features a roof terrace with unobstructed views, a revamped fitness center, and a children’s playroom. And for the canine-loving families out there, the building offers residents their own on-site dog washing station! 93worth.com

Dive In, Without Going Outisde

The Wall Street JournalFebruary 28, 2013
Three homes for sale with indoor pools and aqua amenities, such as changing rooms, a geothermally heated hot tub or a swim-up bar

$3.75 million
Roswell, Ga.
26,000-square-foot home on 3.4 acres

This home includes an indoor/outdoor saltwater pool that is 48 feet long. The room has electronic sliding doors to open the space for large events, and multicolored lights to set the mood. The house has eight bedrooms, 10 full bathrooms and two half-bathrooms. Other amenities include a ballroom and two media rooms, one of which is inspired by the Fox Theater in Atlanta.

Agent: Jim Gibson of Harry Norman Realtors

$17.5 million
Saddle River, N.J.
25,000-square-foot home on 4.4 acres

This French-manor-style home includes an indoor saltwater pool room with two 24-foot "water walls" that circulate water back into the pool and hot tub. A wet bar is a few paddles away. The home, powered by solar and geothermic systems, has five bedrooms and seven bathrooms. Romantics can warm up by the five fireplaces.

Agent: Michael Graves of CORE and Dennis McCormack of Sotheby's International Realty

$9.3 million
Yarrow Point, Wash.
Roughly 8,000-square-foot main home on roughly 3⁄4 acre

The main house features a Southeast Asian-inspired indoor pool room with a glass roof and sliding doors that open to a view of Lake Washington. Beside the 40-foot-long pool are separate his-and-her changing rooms, a full bathroom and a bathing-suit spinner for quick drying. The property also has a meditation room, guest quarters and two boat docks along the 185 feet of water frontage.

Agent: Larry Williams of John L. Scott Real Estate/Luxury Portfolio

Construction Watch: 241 Fifth Avenue Time-Lapse Video Shows Entire Building Construction

Mad Park NewsFebruary 25, 2013
Construction of the new condo development Two Forty One Fifth (241 Fifth Avenue between 27th and 28th Street) is very close to completion, and CORE sent us a pretty cool time-lapse video showing the creation of the building from beginning until its current state (by Triton Construction). This 20-story new condo development is a block up from the Grand Madison and 1.5 blocks from Madison Square Park. Sales are expected to start in the first half of 2013.

Watch it being built in 1 minute...

Selling New York S6E12: Some Imagination Required

CurbedFebruary 22, 2013
HGTV's Selling New York rides along with brokerages CORE, Kleier Residential, and Warburg as they try to sell fabulous properties fabulously. Here's our recap of how the NYC real estate industry is portrayed to the world, penned by Angela Bunt. Episode air date: 2/21/2013.

It's the perfect blend of young and old, experienced and not-so-experienced this week, as we watch Kleier Residential President Michele Kleier and CORE Executive VP Michael Graves navigate the sea of NYC real estate. Graves is trying to repeat his previous record-breaking performance at a Park Avenue building by selling an $8.45M penthouse as close to the asking price as possible. Meanwhile, Michele is working with property developer Penny Bradley to find her a suitable new townhouse to renovate. Will she be able to pull through for her new pal? Will Graves be gravely disappointed?

The grasshopper becomes the master this week, as CORE Executive VP Michael Graves works to prove himself to his boss, CORE CEO Shaun Osher, by selling an $8.45M penthouse in the 240 Park Avenue South building. What makes this an even more enticing opportunity is that Michael has already sold a penthouse in the building, and even broke the record for highest price per square foot. Now, Mike wants to sell the new property for no less than $8.1M, essentially breaking his own record-breaking record because "it would mean so much for my career." He swears he will not be using performance-enhancing drugs.

Rather than being impressed, Osher (pronounced Awwwsher) basically chastises Graves for doing such a bang-up brokerage job in his past deal: "You shot yourself in the foot. You set a record, now everyone expects that from you." Thanks for the vote of confidence, Osh-Kosh!
One of the biggest challenges facing the sale of the 240 Park Avenue penthouse (besides the price point Graves is hoping to reach) is the furniture. It's beautiful and completely custom. But, that's just the problem. The furniture gives the apartment an appeal that it wouldn't have otherwise, and soon the owners will be moving it into their new digs. It's imperative that Graves sell the penthouse before it's empty inside (like he is. All work and no play, y'know how it goes).

Graves gets to selling, showing off the apartment to brokers and buyers alike. He's hoping his soft, soothing voice and boyish good looks will help him land a deal. Throughout the tour he uses expressions like "wrap glass corners" and "signature residence" and makes the pantry sound like the closet leading to Narnia. But as Graves says, "In real estate, it's sort of like selling a piece of art. It's whatever someone believes it's worth." AKA make up a bunch of fancy terms in an effort to squeeze every last dime out of these one-percenters.
Graves meets up with Susan Kennedy, associate broker at Halstead, to discuss a potential offer. Her clients love the apartment, but they don't love the price. They're also pretty set on having outdoor space, which this place doesn't have. She predicts their offer will land around the high $7M mark. Graves comes off a bit aggressively as he tells Susan he needs that number to be higher, and exclaims privately to the camera: "The high sevens are not going to do. I need to be very close to the full asking price for me to deliver for my seller, who expects me to be a record breaker one more time." Michael is putting way too much pressure on himself to be the best—there's no way he's going to be able to pull this off all on his own.

At this point in the episode, Michael is feeling the heat so intensely he looks like he's about to spontaneously combust. Pacing around the CORE office, he vows to his client over the phone that he will break his previous record and sell the property for over $8.1M. He begins to reach out to everybody that's shown interest in the apartment in an effort to start a bidding war. Aggression, short-temper, intensity. Are you sure you're not doping, Michael?

To help calm his frayed nerves, Michael and Shaun take a stroll in Madison Square Park while Michael waits on news from Susan Kennedy. Apparently Graves' intimidation tactics at their last meeting worked: Kennedy's clients put in an offer at $8.3M, which is $200K more than his previous record-breaking deal. He did it, he did it! He broke his record, gained the respect of Shaun Osher, and proved himself to be one of the best brokers CORE has to offer.

Next up is yet another appearance from Mama Michele, whom we've been seeing more and more of this season and I ain't mad at it! This week, she's stepping out of the brokerage box and instead dabbling in some property development work. She's teaming up with Penny Bradley, who worked as the property developer on Emeril Lagassi's townhouse (which Michele has the exclusive on, no big deal). Penny specializes in buying townhouses and bringing them to life through complete gut renovations, and Michele has a few properties she'd like to show her in the hopes that she'll take them on as her next development project. Then, once the properties look awesome, Michelle can sell the hell out of them. Kind of like a you scratch my back, I scratch yours type of thing.

The first potential fixer-upper is at 59 Park Avenue. God, those apartments on Park are all so dilapidated, hey? It's a $12M, 6,480-square-foot townhouse that holds 10 apartments: five studios in the front, five one-bedrooms in the back.

Penny says the criteria she considers when purchasing a property is first the location, and then the "bones" of the apartment. No matter how gorgeous the crib may be initially, if it doesn't have the ability to be converted into something even better, then there's no real value in it. So does Penny see value in this Park Ave space? Mama Kleier asks. "Do you have other things to show me?" Penny wonders. So: no.

Mama K does have something else: a townhouse at 111 Bank Street – the heart of Greenwich Village. Penny is joined by her architect, Richard Lewis (not to be confused with the comedian), who's going to give some input on the pad while managing to get a little airtime for himself. It's $7.5M, 5,000-square-foot townhouse with six units inside.

It's hard to summarize an apartment when the people touring it are picturing all the different ways they can gut it and start anew, but Penny and her architect see a lot of potential in the building. The property is 22 feet-wide, larger than average for a townhouse in this 'hood, which means there's a lot of room to renovate. Penny describes it as "quaint" and "charming," which only comes off as slightly patronizing to the average television viewer who can't afford to flip NYC real estate. They estimate that renovations will cost around $1.5M to $2M dollars.

Michele meets with Penny at her restaurant, Lyon, to discuss the properties they've been checking out. So this woman is a prolific property developer and also owns a restaurant? I can't even juggle doing my laundry on the same day I'm going out for a happy hour. Penny loves the Bank Street property but thinks she needs to finish her current project on the Upper East Side before taking on something new. Michele says she'll keep her eye on the townhouse in case she needs to scare potential buyers away. In the meantime, Penny has some referrals for Michele, who she's begun working with since the episode aired.

It's like everything happened in this episode...yet nothing happened at all. And don't you think Michele is starting to look more and more like Samanatha Kleier everyday? This episode gets 2 out of 5 cackling Kleiers.

Celeb Photographer Seeks $8,900/Month For 2BR Chelsea Pad

CurbedFebruary 21, 2013
Celebrity photographer Mike Ruiz—who has shot the likes of Kim Kardashian, Nicki Minaj, and Kirsten Dunst—is leaving Chelsea for the wide open spaces of New Jersey. ""I'm moving to horse country in New Jersey," Ruiz told the Post. "I'll be on 4 acres in a four-bedroom home with lots of space to possibly give my dog, Oliver, a sibling." That means he's putting his 2BR/2BA condo with a terrace in the Chelsea Stratus up for rent, starting March 1. For $8,900 a month, the new tenant gets a beautifully decorated apartment, outfitted with B&B Italia furniture, grey Lanzzoni sectional sofa, and a custom-designed kitchen with Pietra Cardosa stone countertops, lacquered cabinetry, and an Asko washer/dryer.

The building has some fun amenities, including an indoor basketball court, lounge with a fireplace, billiards room, a rooftop deck, a landscaped garden, and a fitness center. Ralph Modica and Vickey Barron of CORE has the listing.

Gimme Shelter - Zoom With a View

New York PostFebruary 21, 2013
Celebrity photographer Mike Ruiz, who’s worked with Kim Kardashian, Kirsten Dunst and
Nicki Minaj, his put his stylish condo on West 24th Street up for rent at $8,900 a month. “I’m moving to horse country in New Jersey. I’ll be on 4 acres in a four-bedroom home with lots of space to possibly give my dog, Oliver, a sibling,” Ruiz says.

The 1,127-square-foot two-bedroom unit he wants to rent out in the Chelsea Stratus features lots of B&B Italia furniture — including a suspended wall unit that hides the TV. The building features an indoor basketball court and a lounge. Brokers Ralph
Modica and Vickey Barron of Core have the listing.
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