Developer Joseph Moinian’s 4,000-square-foot co-op at 1045 Park Avenue has been pulled from the sales market and re-listed as a $32,000-per-month rental, Curbed reported. The 11-room spread, which the developer has been trying to sell since last March, was most recently listed for $7.9 million with Prudential Douglas Elliman’s Jacky Teplitzky. A tipster told Curbed, though, that Teplitzky’s team is “officially out as exclusive brokers,” replaced by Elliman’s Peter Acocella of the recently-acquired Acocella Group, along with Stephen Dartley and Brian Sakonchick. The tipster said the full-floor apartment is still for sale — with an increased price of $7.995 million — though only the rental listing is currently online. [Curbed]

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Developer Joseph Moinian’s 4,000-square-foot co-op at 1045 Park Avenue has been pulled from the sales market and re-listed as a $32,000-per-month rental, Curbed reported. The 11-room spread, which the developer has been trying to sell since last March, was most recently listed for $7.9 million with Prudential Douglas Elliman’s Jacky Teplitzky. A tipster told Curbed, though, that Teplitzky’s team is “officially out as exclusive brokers,” replaced by Elliman’s Peter Acocella of the recently-acquired Acocella Group, along with Stephen Dartley and Brian Sakonchick. The tipster said the full-floor apartment is still for sale — with an increased price of $7.995 million — though only the rental listing is currently online. [Curbed]

[more]

Jacky Teplitzky of Prudential Douglas Elliman and architect Setsuo Ito’s Hamptons home

Setsuo Ito, an architect and sculptor, is marketing his custom-made seven-bedroom, three-story home in the Hamptons, the Wall Street Journal reported. Built in 1993, the 12,000-square-foot property sits on nine acres of land in Water Mill, west of Bridgehampton, and features a 32-foot-high glass pyramid. The home was designed to include principles of Zen Buddhism and feng shui, and is surrounded by evergreens, bamboos, and black pines, according to listing agent Jacky
Teplitzky of Prudential Douglas Elliman. The property also has a 5,000-square-foot sun deck, a pool, waterfall, spa and Jacuzzi.
Ito is relocating to Utah, deciding “he didn’t want the glamour life,” Teplitzky said. The home is on the market for $10.999 million. It is also available for summer rentals: $600,000 for June, $85,000 for July and $95,000 for August. The asking price
for the entire summer, Memorial Day until Labor Day, is $230,000. [WSJ]

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Joseph Moinian and the co-op at 1045 Park Avenue

Developer Joseph Moinian has chopped the price by 12 percent on his five-bedroom Park Avenue co-op after watching it languish on the market for more than a year. The 4,000-square-foot apartment, at 1045 Park Avenue on the corner of 86th Street, at was originally listed for $8.995 million in March 2009. Moinian and his wife, Nazee, combined two apartments to create the full-15th-floor spread, which now comes with its 10-foot beamed ceilings, French doors and windowed kitchen for a reduced price of $7.9 million. Jacky Teplitzky of Prudential Douglas Elliman has the listing. [NYT]

Jacky Teplitzky of Prudential Douglas Elliman leads a REBNY discussion, “Pricing Property in a Changing Market”

Brokers heatedly discussed the pros and cons of sharing signed contract information at the Real Estate Board of New York’s Lexington Avenue headquarters today. Jacky Teplitzky, a managing director at Prudential Douglas Elliman, who led a discussion titled “Pricing Property in a Changing Market” as part of REBNY’s monthly Breakfast Club series, advocated for the sharing of signed-contract information in the post-Lehman market, where frequent market fluctuations have made accurate pricing nearly impossible. “The market is changing in such a rapid way that the only numbers we can use are contracts signed,” she said. Closed sales data — available months, or in the case of new development, years after a contract is signed — often no longer reflects current market conditions, she said. But other brokers said they don’t feel comfortable disclosing signed contract data for fear it violates their responsibility to sellers, and it could be considered illegal if not handled correctly. [more]

Teplitzky is a managing director and head of the Jacky Teplitzky team at Prudential Douglas Elliman, which was Elliman’s top performing group in 2008.

What’s the last deal you closed?
I just closed at the Lucida at 151 East 85th Street at $6,784,610.

Where are the best sales deals right now?
The Upper East Side. There is more inventory, more conversions and new construction.

Compiled by Lauren Elkies [more]

Prudential Douglas Elliman Managing Director Jacky Teplitzky today has
close to 10 listings under $1 million but no listings over $10 million,
a switch from the way she used to do business. Teplitzky told the New
York Observer that her team has been able to make just as much money
during the bust as it did during the boom — but it has to sell a
significantly higher volume of apartments to do so because prices have
fallen. Teplitzky also discussed how she branded herself when she
started out in real estate and about her relationship with
fellow Elliman broker Dolly Lenz. [more]