From left: Steve Kliegerman, president of Halstead Development
Marketing, theToren and Juliana Brown, senior managing director at
Corcoran

BFC Partners Partners has hired the Corcoran Group as the new exclusive sales and marketing agent for the Toren at 150 Myrtle Avenue in Downtown Brooklyn, replacing Halstead Property Development Marketing, BFC announced today. Corcoran took over marketing the project today.
The 240-unit, 37-story condominium is 79 percent sold, with approximately 20 percent of the total sales taking place in 2011, according to BFC. The developer hopes to see the building sell out by the end of the year.
“Developers make these decisions for various reasons,” said Juliana Brown, senior managing director at Corcoran’s Fort Greene office. “Halstead’s been on it for a number of years and [the developers] felt they wanted a fresher face.”
Sales will be headed up by Corcoran sales agents Marco Auteri and Alexander Capoccia. [more]

Halstead Property Development Marketing has sold half the units at Harlem development 88 Morningside in the last year, the company announced yesterday. Sales launched at the 12-story, 73-unit condo by BOS Development, Horsford & Poteat Realty and the Bluestone Organization last June, and the building is now 50 percent in contract or closed. The remaining 32 units range in size from approximately 735 to 1,270 square feet and in price from $415,000 to $880,000. “[Buyers] are seeing the long-term value in buying a luxury residence located right in between Morningside Heights and the ‘gold coast’ of Fredrick Douglass Boulevard — two areas that are booming,” said Stephen Kliegerman, president of Halstead Property development Marketing and of recently announced Terra Development Marketing. — Katherine Clarke [more]

From left: Griffin Court, Alchemy’s Kenneth Horn and Steve Kliegerman,
president of Terra Development Marketing

[Updated at 5.15 p.m.] With sales underway for more than a year, and the building just recently
hitting the 30 percent sold mark, Griffin Court and its developer, Alchemy
Properties have brought in Halstead Property Development Marketing to
help sell the remaining units at the Hell’s Kitchen condominium. The Halstead team, led by Stephen Kliegerman, who The Real Deal recently reported was tapped to be president of Terra Development Marketing, will work alongside Alchemy’s existing sales team, headed up by Wendy Triffon. Alchemy announced the decision yesterday, in its first ever sales and marketing collaboration. Alchemy has been having a tough go of it since launching sales in March 2010 at the 95-unit Griffin Court, offering multiple incentives. [more]

Chelsea Muse, 537 West 27th Street

Leasing begins today at Chelsea Muse, the 28-unit building at 537 West 27th Street, according to the project’s developers Ekstein Development. The units range in size from 485 to 1,293 square feet, and are priced between $2,499 and $6,900 per month. The units are being marketed by Halstead Property Development Marketing and move-ins will start August 1. “Residents will have some of the finest art galleries and restaurants in New York — in addition to the High Line and Hudson River Park in their front yards and a host of amenities at home to complement this unique living experience,” said Erik Ekstein, president of Ekstein Development. The building has on-site laundry, a common terrace, a virtual doorman and a fitness center. Ekstein was also the developer of the nearby condominium +aRt, at 540 West 28th Street, which hit the market in March. – Adam Fusfeld [more]

From the June issue: Shortly after the financial crisis of 2008, experts worried that the market was in even worse shape than it appeared. The culprit? Thousands of stalled and vacant condo units that were being held off the market — so-called shadow inventory — threatening to add years to New York City’s real estate recovery.

In today’s improved economy, many in the industry are wondering what happened to all that inventory. With sales picking up and some new condos morphing into rentals, everyone agrees that the number of shadow units has dropped. But no one knows by exactly how much. [more]

From left: 2280 FDB, Parc Standard and 5th on the Park

The top Harlem condominium developments command more than $715 per square foot in closed sales since June 2010, according to a report released today by Halstead Property Development Marketing, and the building at 2280 Frederick Douglass Boulevard, called 2280 FDB, ranked first in the entire neighborhood with an average closing price of $736 per square foot. The 12-story, 89-unit condo between 122nd and 123rd streets was developed by Harlem-based RGS Holdings and is marketed by Halstead. Twenty-eight units in the building sold during the 18-month time frame ending this month, and 56 have sold overall, according to Halstead. The homes range from 455-square-foot studios to 1,625-square-foot three-bedroom apartments. — Adam Fusfeld [more]

From the May issue: If there’s one thing that residential real estate experts agree on, it’s that there’s demand for new development condos in New York City. But that demand doesn’t mean that everything is hunky-dory in the new condo market again.
In this month’s Q & A, The Real Deal talked to new development brokers, heads of new development marketing companies and industry analysts about the strength of the new development market and the challenges that still exist.
They all said there are encouraging signs in the sector and exciting new projects — like the Stahl Organization’s Laureate on the Upper West Side and the Related Companies’ MiMa on 42nd Street — that could be bellwethers for the market.
But buying a new condo remains complicated for buyers. [more]

From the 2011 Data Book: It was another slow year for new condo starts in New York City in 2010, though condo projects that were already underway and
on the market saw their fortunes brighten somewhat in their ability to lure buyers.
New condo units submitted to the Attorney General’s office (a measure of projects first entering the development pipeline)
dropped 28 percent citywide from the year prior, already a dark time for new construction.
The total number of units in 2010 amounted to less than one tenth of the number of projects in the pipeline during the boom in 2006. Stalled construction sites also increased citywide. “Especially for the next 12 to 24 months, you’re still going to see
a relatively small amount of [new development] supply,” said Stephen Kliegerman, executive director of Halstead Property Development Marketing. Click on the link at the top of the site or here to buy the 2011 Data Book. TRD [more]

Exterior and interior of the Kirkman Lofts

If cleanliness is a priority for an apartment, look no further than a condominium launching sales at a former Dumbo soap factory. Developers 37 Bridge Street LLC, along with partner Karnusa Equities, transformed the former Kirkman & Sons soap factory at 37 Bridge Street into a 45-unit condo that is open for viewing by appointment until the on-site sales office opens Sunday, but construction won’t be complete until the late summer, according to Halstead Property Development Marketing, the building’s exclusive marketers. Named the Kirkman Lofts, the seven-story building is a mix of studios and one-, two-, three- and four-bedroom units ranging from $555,000 to $1.6 million that pay homage to the previous structure. TRD Comments

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Williamsburg’s 50-unit new condominium project, 58 Metropolitan, has received its temporary certificate of occupancy, according to developer Steiner NYC. The seven-story building includes studios, as well as one-, two-, three- and four-bedroom apartments, with prices ranging from $359,000 to $1.53 million. The development, which began marketing in 2008, includes an indoor swimming pool, fitness center, yoga room and Zen garden. It’s not immediately clear how much of the building is sold. Halstead Property Development Marketing is the building’s exclusive brokerage. Sales launched in June 2010. TRD