#new developments nyc

My top ten reasons why it is to your benefit to work exclusively with me as your buyer’s agent, instead of undertaking a property search on your own (Note - before reading items 1-10, please read the post script at the bottom of this article, because time is money):

1. EXPERIENCE:  My proven track record of professional and personal experience and success in buying and selling real estate in Manhattan, which saves you time and money. 2. ADVOCATE:  Retaining my services as your real estate professional helps you position yourself for better negotiations, to get a better deal - or just to get the apartment!  The seller’s/sponsor’s agent is NOT your advocate. He/she works for the seller.  For this reason, when you go in as a direct buyer, you are asked to sign a disclosure that you have been made aware that they DO NOT represent your interests; they represent the interests of the seller/sponsor.   3. SERVICE:   As your agent, I would arrange showings and know what’s on/coming to market, and quite often know the history of the building and specific apartments, and what’s trending in the market.  I also provide service to you at every stage of the process – from finding your property and negotiating the price, to referring you to trusted and quality service providers, so that you may transform your purchase into a bespoke residence that reflects how you want to live. 4. COLLEAGUES:  As brokers, we know each other from our experience in the field, and these relationships help me get a status report on the unit that’s on the market, so that you do not go in blindly to make an offer, thus avoiding betting against yourself. 5. INFORMATION:  As a Halstead agent, I have access to proprietary market information and tools that Halstead has spent millions developing, and this information is not public. For example:  Halstead’s new technology that generates Instant Value (Market Report) and Analytics (Market Trends).   6. EFFICIENCY:  All of these tools, my experience, and organizational skills create efficiency, so that you’re not spinning your wheels in your search and your goal is achieved with surety. 7. THE POWER OF TWO and TEN:  My husband Kleon has joined my team!  Kleon always says, two heads are better than one, and that’s what you get when you commit to working exclusively with me.  Kleon also says that 10 heads are better than two.  Well, at Halstead, behind every agent are many super smart and seasoned managers, tech gurus, a 30-member marketing team (important when you sell), a new development division (HPDM) that’s helmed by a very seasoned gentleman by the name of Steve Kliegerman, who was a developer himself and knows everyone in that space, and we also have a super-responsive in-house chief economist, Greg Heym. 8. HALSTEAD & BROWN HARRIS STEVENS:  My company and our sister company, BHS, are co-owned by the Zeckendorfs – premiere developers, renowned not only in Manhattan, but throughout the world.  When I interviewed real estate firms to choose one to sponsor my license, I chose Halstead because they are a reputable, quality firm with fantastic, professional people in every department, and my two managers are absolutely brilliant. 9. TESTIMONIALS:  I would be happy to furnish you with testimonials from my customers.  I read those testimonials and I want to work with me! 10. OPTIMISM, NEW YORK HUMOR, RESOURCEFULNESS, DETERMINATION and REAL ESTATE DETECTIVE WORK:  Did I leave anything out?  To discuss achieving your real estate goals, wishes and dreams, call me at +1-973-610-7805.  

Upcoming new construction in NYC is the talk of the town, with 1,500 new condos expected to hit the market over the next few years, vs. 900 during the downturn.  Scarcity is putting pressure on prices, with the current average condo price of $1,400 per sq ft expected to rise to $2,000 per sq ft once all the new condos go up.  In this NYT article, "Back in Business," here are the featured developments:

1.  Baccarat Hotel and Residences New York:  designed by Skidmore Owings & Merrill, will meet feng shui standards, co-developed by Starwood Capital Group (developer of the W Hotel chain), and Tribeca Associates, 46 stories total, 114 hotel rooms, 64 condos over 45 stories currently under construction at 20 W. 53rd St., across from the MoMA.  One- to three-bedrooms & duplex penthouse, the units will have 12- to 16- foot ceilings, some w/terraces.  Midtown is attracting foreign buyers and those seeking pied-a-terres.

2.  56 Leonard Street:  Alexico Group's (now includes developer Hines, Dune Capital Managemnet, Goldman Sachs, to spread the risk post-recession) 57-story tower, at Church St., Tribeca, sales expected to open by year's end.  145 one- to five-bedrooms, tower designed by Herzog & de Meuron, creators of 40 Bond.  Unlike the boutique buildings that used to dominate Lower Manhattan, 56 Leonard will be on a grander scale, more architecturally (and artistically) driven.

3.  530 Park Avenue:  RFR Holding (Aby Rosen), conversion of 20-story cream-brick facade building (circa 1941) at E 61st St., sales began last month, 119 units, studios to four-bedrooms, priced approx. $3,200/sq ft (though a two-bed was recently listed at $2.32M, at $2,200/sq ft); buyers begin moving in this autumn; 20 pre-conversion renters staying on.  Apartments will feature wood floors, glass-fronted kitchen cabinets, crown moldings.  Building will have a fitness center overlooking a garden w/reflecting pool, thus adding an element of modernity; amenities said to create a Second Avenue-type building on Park.  In terms of the building's style, taking an understated approach, Mr. Rosen said, "Prewar has its own charm, so you don't have to overdo it."

4.  One Madison Park:  65-unit condo, 50 stories overlooking Madison Square Park; formerly in foreclosure but now taken over by Related Companies w/HFZ Capital and Amalgamated Bank after making a deal w/creditors.  Lobby being renovated; official address on 22nd St., at 23 E 22nd.  12 apartments had been sold prior to the foreclosure, now 53 remaining one- to five-bedroom units may hit the market this fall, but KP says most likely in JANUARY.  Prices not yet set.

5.  18 Gramercy Park:  Across from Gramercy Park, a former women's residence that had 200 tiny rooms is now being converted to 16 spacious condos, by the Zeckendorf brothers and Eyal Ofer of Global Holdings (the team behind famed 15 Central Park West), with Robert A.M. Stern again as architect, as was the case at 15 CPW.  Units, on average, will cost $17.5M ($4K/sq ft).  Duplex penthouse w/outdoor pool & hot tub = $42M.  A few contracts have been signed, though official sales begin September.  

Upcoming Developments:

737 Park Avenue:  21-story red-brick prewar, low-ceilinged, marble-walled lobby, former rental bldg, 103 units, converted to condos by Harry Macklowe.  Work has begun on the market-rate apartments (60); the other third are rent-regulated & will keep their tenants.

432 Park Avenue (former Drake Hotel):  Harry Mackowe w/partner CIM Group, will erect condo tower 1,398 feet tall, making it the tallest building in Manhattan (One57=1,004 feet).  Designed by Rafael Vinoly; 128 units of one- to three-bedrooms; L-shaped site, touching on E 56th & E. 57th Streets; 16 retail stores.

Tower Verre:  78-story condo designed by Jean Nouvel, creator of 100 11th Ave.  Wedge-shaped skyscraper, 53 W 53rd St.; developer Hines; will provide views to the Baccarat across the street.  (KP can't wait!)

Carlton House:  Extell & Angel, Gordon & Co, 16-story former residential hotel, 680 Madison, full block bet. 61st & 62nd Streets, near Hermes & Barneys, so will have expanded retail space, to include 34,000 sq ft across two stories.  156 units will become 68 condos, two stories added to its roof & will incorporate a town house on 61st St.; sales begin this fall, with completion in 2014.