Source: the Corcoran Group
The Hamptons residential sales market may be mirroring Manhattan’s, with lower-priced properties making up a greater number of transactions than in the previous year, according to first-quarter market reports released today by three of the city’s biggest New York City brokerages. [more]
From left: Michael Guerra, Elliman’s Brooklyn managing director, and Frank Percesepe, Corcoran’s Brooklyn senior regional vice president
Home prices and transaction volume in Brooklyn and Queens were down in the first quarter of 2012 compared to the same period last year, according to market reports released today by residential brokerages Prudential Douglas Elliman and the Corcoran Group, although the overall picture shows stability.
In Brooklyn, the median sales price dropped 5.3 percent to $450,000 from $475,000 in the same period last year, while the number of sales tumbled 23.9 percent to 1,807 from 2,373 sales, the Elliman report says. Corcoran pegged the median sales price at $428,000, a 2 percent decline over the same period last year. [more]
Dolly Lenz, Tim Davis and the Water Mill mansion
Dolly Lenz finally sold her East End mansion that’s languished on the market for nearly two years, the New York Post reported, with a closing price of $5.46 million. The Prudential Douglas Elliman vice chairman famously chose Corcoran Group’s Hamptons power broker Tim Davis to list the estate on Cobb Hill Lane in Water Mill. [more]
Brown Harris Stevens Development Marketing President Stephen Kliegerman and the Dillon
Brown Harris Stevens is in and Corcoran Sunshine Marketing Group is out at the Dillon condominium in Hell’s Kitchen, the new marketing team announced today. Twenty-eight units remain available in the seven-story SDS Procida-developed building, at 425 West 53rd Street. [more]
From left: Frank Arends, Patty LaRocco, Terry Naini and Ginger Brokaw
Three senior vice presidents from Prudential Douglas Elliman’s 26 West 17th Street office started today at Town Residential, according to their new firm. [more]
Madeline Elghanayan
Madeline Hult Elghanayan, wife of TF Cornerstone Chairman Thomas Elghanayan and a 20 year veteran of the real estate industry, joined Prudential Douglas Elliman as a senior vice president two weeks ago, the firm announced. She’s working out of the 575 Madison Avenue office.
Elghanayan last worked for the Corcoran Group, which she joined 10 years ago via the Sunshine Group when it was sold to the brokerage in 2002. [more]
From left: Stephen Ross, chairman of the Related Companies, Robby Browne, senior vice president of the Corcoran Group, Bruce Mosler, chairman of Cushman & Wakefield, Jeff Blau, president at Related, and Jack Cayre, a found of Core.
[Updated 12:50 p.m., on Feb. 2, with chart of New York City's top donors to 2011 presidential campaigns] Professionals from the residential brokerage firm the Corcoran Group were the most generous among employees of real estate companies in New York to give directly to the presidential campaigns of Barack Obama, Mitt Romney and other contenders in 2011, an analysis of election finance data by The Real Deal shows (see chart of New York City’s top donors to 2011 presidential campaigns).
A total of 18 brokers and agents from the Corcoran Group gave $30,920 in 2011 to presidential candidates, the most from any industry firm, residential or commercial. They sent $20,920 to Obama and $10,000 to Romney, the records show. The top contributor from Corcoran was Robert Browne, known as Robby, a company senior vice president who donated the $5,000 maximum to Obama. [more]
Compiled by Lauren Elkies
In the wake of Sandy Weill’s reported $88 million sale of his 15 Central Park West penthouse, The Real Deal wanted to touch base and see if real estate executives had any last minute predictions for the New Year since speaking with the magazine for the December residential market report.
Dottie Herman, president of Prudential Douglas Elliman, and Frederick Peters, president of Warburg Realty Partnership, said to expect 2012 to be a bit of a repeat of 2011, while developer Donald Trump said “really good real estate will have excess value.” Elizabeth Stribling, president of Stribling & Associates, predicts a “continuing strong demand for new condominium offerings all over town,” while Stuart Saft, chairman of Dewey & LeBoeuf’s global real estate department, said “the euro will continue to be in trouble causing a flight to safety to the U.S. and particularly New York City, so New York City properties will trade at even lower cap rates.” Meanwhile, Citi Habitats President Gary Malin and Halstead Property Development Marketing President Stephen Kliegerman recently told amNY that 2012 would bring more development and fewer amenities to New York City’s real estate market. [more]
From left: MiMA, One Jackson Square and Jasmine Mir, senior vice president of Corcoran Sunshine who is marketing the buildingAs new residential developments begin returning to the city’s skyline, the New York Times directed its attention to the names bestowed upon them.
According to Elizabeth Hawes, the author of a historical book about city apartments, the practice began at the turn of the century as a way of “validating the decision to live in an apartment.” She added: “it was pretentious but reassuring.”
Today, names are used to sell or rent apartments and marketing teams have several factors to consider when branding buildings. First and foremost, they must consider the developer’s vision for the building. [more]
While the folks behind Streeteasy.com may be most closely associated with real estate listings and data points, they shrugged off the computer geek image last night for a holiday party at the Mondrian Soho hotel’s Mister H bar.
Sofia Song, vice president at Streeteasy, said more than 200 of the invited brokers, advertisers, clients and media guests planned to attend the event, at 9 Crosby Street between Howard and Grand streets, and the press of bodies last night seemed to bear out her tally.
Between the ruby-colored wingbacks, gilt-framed mirrors, Persian rugs and bird cages strung from the ceiling, the space evoked a cross between a boudoir and a colonial drawing room. Or, as Iman Bacodari, vice president and associate broker for the Jacky Teplitzky team at Prudential Douglas Elliman, put it, “Chinatown dumpling shop meets Spanish brothel … with a little English manor sprinkled in.” Comments
