Two Financial District condominiums, the Africa Israel-developed 20 Pine Street and the Hakimian Organization-sponsored 75 Wall Street, held a joint open house to showcase their remaining units to brokers (see photos above).

The event started at 20 Pine, which is entering its final sales stage as only about 25 of the 412 units remain on the market. Sales started in the building in January 2006, according to Streeteasy.com, and Warburg Realty serves as the exclusive marketing team. Brokers were shown unit #2503, a 706-square-foot studio asking $925,000; unit #3104, a two-bedroom, 1,573-square-foot apartment asking $2.35 million, and PH12, a two-bedroom, 1,829-square-foot penthouse asking $2.8 million. – Adam Fusfeld Comments

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Kelly Mack, 36, is president of Corcoran Sunshine Marketing Group.
Specializing in the planning, design, marketing, and sales of luxury
residential developments, the company has generated over $9 billion in
sales since she became president in 2006. Mack earned her MBA at New
York University before joining Corcoran Sunshine, where she became
executive vice president in 2004. Last year, Mack was named the
first-ever Distinguished Young Alumna by New York University.

Which amenities are popular in new buildings today, and how has that
changed over the past year?
Amenities still create value — that
hasn’t changed. The strength of sales at a building like the Rushmore,
one of the most amenitized buildings in Manhattan, demonstrates that new
development buyers still want the complete package. That being said,
are there other developers who are scaling back on amenities during
predevelopment? Some are. 

Compiled by Candace Taylor. [more]

The Real Estate Board of New York’s 114th Annual Banquet was the usual whirl of floor-length dresses, schmoozing and cameos by politicians like Mayor Michael Bloomberg and Governor David Paterson (see slide show above of The Real Deal’s Lauren Elkies interviewing people at the REBNY event, and click here for a Webcast from the night). But for the first time, a woman presided over the event — new REBNY Chairman Mary Ann Tighe, CEO of the tri-state region of CB Richard Ellis, swathed in a sparkling blue gown. Her presence at the microphone, however, didn’t do much to quiet the boisterous crowd, which was just as loud as usual despite the fact that there were slightly fewer attendees this year than last — 2,000 versus 2,300 last year — according to REBNY President Steven Spinola. The crowd’s smaller size didn’t do much to dampen the markedly higher spirits that set this year’s event apart from last year’s. “Last year, this was like a funeral,” said Jeffrey Levine, principal of Douglaston Development, who attended the banquet with his son Benjamin. “We were licking our wounds from the collapse of Lehman. There’s no question everyone tonight is in a much better frame of mind.” [more]

Louise Sunshine, who recently helped her son, Sam Sunshine, sell her husband’s One Beacon Court apartment for close to its $6.7 million asking price, is moving to the Laurel at 400 East 67th Street. Her new $3.2 million condo, where her husband, medical consultant Martin Begun, is in contract, was developed by her own Alexico Group and marketed by Corcoran Sunshine Marketing. The home is a 2,000-square-foot three-bedroom in the 31-story green building. [Post]

Condo-hotels, like the Plaza Hotel at 768 Fifth Avenue, and the new Trump Soho at 246 Spring Street, may soon become a thing of the past. The buildings allow condo buyers to access hotel services and restrict their occupancy so that units can be rented out while they are away. But they are now proving difficult to sell — not because of a lack of interest but because of a lack of financing. “There is no financing for condo-hotels, so people have to buy in cash,” said Rodrigo Niño, president of the Prodigy Network, which is marketing Trump Soho. “What we think is, out of the original sales, we’re going to lose 10 to 15 percent of the people who won’t be able to close because of lack of financing.” After their planned 205-unit Nobu Hotel and Residences fell through, Raphael and father Robert De Niro are now planning a new condo-hotel in Miami’s South Beach, but the model is slightly different: Buyers’ occupancy will not be restricted and the units will not be rented out part-time. Condo-hotels using the Trump Soho’s model “are proving to not be successful,” said Raphael De Niro, managing director at Prudential Douglas Elliman. At the Fannie Mae-approved 75 Wall Street, hotel services are being sold to buyers à la carte. “Fannie Mae will not approve a condo-hotel under their guidelines,” said Larry Kruysman of Corcoran Sunshine Marketing Group, who is directing sales at 75 Wall Street. [NYT]