News

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.

New Development: One Museum Mile

Brokers Weekly - New DevelopmentFebruary 20, 2013
One Museum Mile, the new residential condominium at 1280 Fifth Avenue in Manhattan, is now more than 50 percent closed or in contract, announced CORE, the exclusive sales and marketing firm for the building. The 113 residential interiors at One Museum Mile were created by Andre Kikoski, who also designed the award-winning restaurant The Wright at the Guggenheim.

Robert A.M. Stern Architects, LLP, served as design architect for the building. SLCE Architects served as architect-of-record.

"One Museum Mile has achieved success with New Yorkers as well as international buyers who are looking for good value on Fifth Avenue," said Shaun Osher, CEO of CORE.

"They have been drawn not only to the building's prestigious location on Central Park, but also its superb architecture, amenities and modern interior design."

Residences include 838 s/f studios, two-bedroom apartments from 1,284 s/f to 1,699 s/f, and three-bedrooms up to 2,118 s/f. Available combinations include a 3,619 s/f, six-bedroom residence, and a sprawling eight-bedroom, 4,963 s/f home.

"There has been particularly strong demand from families attracted by the building's expansive residences, including a number of combination units," noted Douglas Barnes, managing director at Brickman, the developer of One Museum Mile.

One Museum Mile Attracting Local and International Buyers

Multi-Housing News OnlineFebruary 20, 2013
New York—More than half the homes at the new Fifth Ave. residential condominium One Museum Mile have closed or are in contract. That announcement was made last week by CORE, the exclusive sales and marketing firm for the building located at 1280 Fifth Ave. in Manhattan.

“With New York City apartment inventory at historic lows, One Museum Mile is the perfect synthesis of all things quintessentially New York,” Tom Postilio, managing director of CORE, tells MHN. Those things, he says, include “a spacious new development on Fifth Ave. offering high-end amenities, sweeping Central Park vistas and an exceptional design, all at good value.”

One Museum Mile has attracted New Yorkers as well as international buyers seeking good value on the northern end of Central Park.

The new development puts residents close to the legendary park, the Guggenheim and Metropolitan Museum of Art, and right next to the Museum for African Art. According to Shaun Osher, CEO of CORE, buyers “have been drawn not only to the building’s prestigious location on Central Park, but also its superb architecture, amenities and modern interior design.”

Andre Kikoski, who also designed the award-winning restaurant The Wright at the Guggenheim, created the 113 residential interiors at One Museum Mile. Robert A.M. Stern Architects, LLP was the design architect for the building, while SLCE Architects served as architect-of-record.

The range of homes offered includes 838-square-foot studios; two-bedrooms ranging from 1,284 to 1,699 square feet; and three-bedroom floor plans up that range up to 2,118 square feet.

Combinations are also available, including a 3,619 square-foot, six-bedroom residence and an expansive 4,963-square-foot home featuring a total of eight bedrooms. Every One Museum Mile home offers an open kitchen and breakfast bar, Bosch dishwasher, Thermador stainless steel oven, cook top and refrigerator and Bosch washer and dryer.

Amenities of One Museum Mile start with a 24-hour full-service concierge, and go on to include landscaped roof terrace, rooftop pool and terrace overlooking Central Park, fitness center with terrace and residents’ lounge with fireplace.

Additional amenities include a card room and media lounge, children’s playroom, teen game room, formal conference and dining room overlooking Central Park, on-site parking, bicycle room, in- lobby cold storage and private storage.

A 421a tax abatement is in place.

Thus far, One Museum Mile has witnessed especially strong demand from families drawn to the expansive residences and combination units, not to mention the high-end amenities and proximity to Central Park, observes Douglas Barnes, managing director at Brickman, One Museum Mile’s developer.

“From a marketing standpoint, one of the larger challenges has been fighting the perception that there is no luxury new development to be had above 96th St.,” Postilio says. “We have shattered that antiquated notion!”

House of the Day: 152 Willow Street

BrownstonerFebruary 20, 2013
The townhouse at 152 Willow Street is not the standard single-family home you’d expect to find in Brooklyn Heights. As far as we can tell, a developer bought the 19-by-83-foot multi- family building at the corner of Pierrepont and Willow Street (with the address of 25 Pierrepont) in late 2011 for $3,550,000 and went on to subdivide and gut renovate it. This would explain the small floor plates and lack of historic details. So while the finished product is a far cry from a typical townhouse, it is a well-appointed and well-located single family house with a front yard and roof terrace. The asking price for the 2,750-square-foot pad is $3,495,000, which comes out to $1,270 a square foot. You buyin’ it? 152 Willow Street [CORE]

Timelapse Video of 241 Fifth Ave.

CurbedFebruary 19, 2013
FLATIRON DISTRICT—Developer Victor Homes installed an EarthCam to capture the construction of 241 Fifth Avenue, and now that the 20-story building is just about complete, the marketing team over at CORE has shared the above timelapse video. Sales for the new condo building will be launching soon.

On the Market: 41 West 16th Street, #2B

The New York TimesFebruary 17, 2013

Court Square in Queens Has Become a Hot Market for Residential Development

New York Daily NewsFebruary 16, 2013
What is now a commercial zone is expected to see more than 3,000 homes built in the next several years.

A real estate explosion in Court Square has catapulted this once sleepy commercial and manufacturing zone into one of New York City’s fastest growing neighborhoods.

Over 3,500 residential units are expected in the Queens enclave over the next five years with housing prices up almost 30% in the last three years. The area has an emerging food scene along with a strong local arts movement.

“It’s definitely become the new ‘it’ neighborhood for Queens,” said Eric Benaim, who lives in the neighborhood and founded Modern Spaces, a real estate agency with roots in the borough. “Artists and families know they get more for their dollar than Brooklyn and Manhattan. It’s still gritty and cool with great value.”

Less than 12 minutes by train to midtown and Williamsburg, the streets of Court Square are full day and night with people coming and going, and staying.
Here’s what makes this 24-hour Queens enclave a development magnet and New York City’s neighborhood of the future.

Rentals coming

New York-based Rockrose Development invested almost $1 billion in Court Square with four projects in construction and development. The 700-plus unit rental building Linc LIC comes first. It has a snazzy 30th floor tenant lounge and roof deck with skyline views. A 15,000-square-foot supermarket is expected with plans for first-class music venue.

“This could become one of the great New York City entertainment hubs,” said Rockrose president Justin Elghanayan, who said the Linc will be ready for move-ins by this summer.

“The neighborhood has it all – easy transportation to Manhattan, great culture, and room to grow.”
Condos for sale

Three years ago, condo prices were $550 per square foot. Today, they’re almost $850 for top apartments with two-bedrooms going for as much as $770,000 at new projects such as the Vista and One Murray Park.

“We sold out fast,” said CORE’s Doron Zwickel, who marketed One Murray Park. “Most of our buyers came from Manhattan and deeper Queens. They all seem to like that they are watching a neighborhood get built and that they are in early.”

Foodie’s delight

M. Wells Dinette, the highly rated restaurant in MoMA PS1 on Jackson Ave. leads the food scene. They’re opening a steakhouse in an old garage on a site Elghanayan owns.

Home-cooked meals at Sage General Store and Thai food at Gaw Gai draw lines at lunch.
The local bar is Dutch Kills. Newcomers include an Indian outpost called Aanchal and Peruvian spot called the Incan.

“I chose the location to be close to the Citibank but I can’t believe how fast the area is getting better,” said Incan owner Jorge Loaiza.

Artsy

MoMA PS1 and the grafitti icon Five Pointz are internationally known. Local galleries, designers and art collectives give the nabe a creative kick.

All work

JetBlue, Rolex, and CUNY Law School relocated to Court Square. Publicis, one of the world’s largest advertising conglomerates, just announced it was moving from Manhattan.

“It’s been one more epic happening after another for Court Square,” said Dan Miner, senior vice president for the Long Island City Partnership, a group devoted to growing the area.

“JetBlue’s coming – boom. CUNY Law School – boom. The food scene – boom. Most neighborhoods would just need one of these things.”

Featured Real Estate: 305 East 85th Street, 4A

Modern NYCFebruary 15, 2013
305 East 85th Street, 4A
$3,525,000
3 beds // 3.1 baths
2,349 sq.ft*

Welcome home to the Georgica condominium, a full-service modern building located on a tree-lined block at 305 East 85th Street. This gracious, 2,349-square foot 3-bedroom, 3.5-bathrooms home is in move-in condition and no expense has been spared on its interiors. The expansive master bedroom suite offers a sitting room, walk-in closet, two additional closets, and a large, en suite bathroom. This home also features a contemporary chef's kitchen, featuring two dishwashers with top-of-the line Miele appliances, as well as additional luxuries that include a Bosch washer/dryer, treated marble counter tops, radiant heated bathroom floors,a steam shower and custom California closets throughout. The Georgica is a 58-unit, curtain wall condominium designed by the award-winning architecture firm, Cetra/ Ruddy. Amenities include a 24-Hour doorman, roof deck with outdoor kitchen.

Dream Homes: 305 East 85th Street, 4A

New York PostFebruary 14, 2013
Yorkville $3.525 million

In the heart of prewar co-op land, you’ll find this “full-service, modern” condo. Set on a “tree-lined” block of East 85th Street, this “gracious,” “move-in-condition” home offers three bedrooms and 3 1/2 bathrooms in the 2,349 square feet of living space. The “expansive” master bedroom suite features a sitting room and three large closets — one a walk-in — and an en-suite bathroom with a steam shower. There is also a “contemporary” chef’s kitchen with marble counters and two dishwashers. The 24-hour-doorman building includes a roof deck with an outdoor kitchen, a playroom and a fitness center. Agents: Emily Beare and Elizabeth Beare, Core, 212-726-0786 and 212-612-9696.

One Museum Mile is 50 Percent Sold

The Real DealFebruary 13, 2013
Harlem’s 113-unit condominium tower, dubbed One Museum Mile, has reached the half way mark, with 50 percent of its units closed or in contract, according to Core, the brokerage handling sales. Located at 1280 Fifth Avenue, the Robert A.M. Stern-designed building has seen sale prices ranging from $650,000 for a studio to nearly $4.4 million for a four-bedroom unit, according to Streeteasy.com data.

“One Museum Mile has achieved success with New Yorkers as well as international buyers who are looking for good value on Fifth Avenue,” CORE CEO Shaun Osher said. “They have been drawn not only to the building’s prestigious location on Central Park, but also its superb architecture, amenities and modern interior design.”

The building is composed of 838-square-foot studios, two-bedroom apartments from 1,284 square feet to 1,699 square feet, and three-bedrooms up to 2,118 square feet. The building does also feature combination options, such as a 3,619-square-foot, six-bedroom unit and a 4,963-square-foot eight-bedroom unit. Amenities include 24-hour concierge service, a roof terrace, rooftop pool, Central Park views and a residents’ lounge with fireplace.
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