From the March issue: These days, few areas of Manhattan can be considered undervalued, despite fallout from the recent recession. “At this point, Manhattan is pretty mature,” said developer Matthew Blesso, president of Blesso Properties. “We’re going through this incredible recession, and it’s not like some of the neighborhoods are going to the pits, the way they did in previous recessions.” Still, there are pockets of the city that haven’t yet reached their full potential, where small investors (or homebuyers) looking for the greatest financial upside can snap up deals. [more]

Clockwise, from top left: an alleged digital replica of Heptagon Creations’ cocoon chair in an episode of HGTV’s “Selling New York,” 240 Park Avenue South, Heptagon Creations’ André Joyau, Core’s Shaun Osher and the original cocoon chair by Joyau

A Brooklyn-based designer of high-end furniture is accusing Shaun Osher’s Core of using digital recreations of its signature tables and chairs without permission in order to sell a $5.89 million apartment that was featured on the HGTV program “Selling New York” in January.

Heptagon Creations, better known in the industry by its founder’s name André Joyau, has sued Core and the architectural firm PleskowRael, claiming copyright infringement, unfair competition and other complaints, stemming from the use of digital images in the marketing materials for the apartment at 240 Park Avenue South. [more]

The Real Deal has had an action-packed schedule. We hit up the Charity: Water event at 123 East 10th Street, the largest and priciest home available in the East Village, hosted by Rubicon Property. We stopped by Core’s cocktail party on the 17th floor of 812 Fifth Avenue, which was recently redesigned by architect Joseph Dirand. We also dropped by the Griffin Court condominium in Hell’s Kitchen, where Gumley Haft Kleier was hosting a viewing party of this week’s HGTV’s realty reality show “Selling New York.” Meanwhile, back at the office we were letting our fingers do the walking and got some fun nuggets. Click here for more. [more]

As Fashion Week begins today, Core CEO Shaun Osher speaks to fashion designer Nicole Miller in the “Core Talks” web series video above. Osher — who wrote the music for the video — gets a rare look at Miller’s New York City showroom and production facility and the two discuss New York real estate. “I believe there is a natural synergy among fashion, design and architecture that represents our culture,” said Osher. “Nicole Miller is an inspiring entrepreneur and a creative icon.” TRD
[more]

Core founder and HGTV’s “Selling New York” star Shaun Osher is relaunching his “Core Talks” webisode series with the help of a real estate pro who’s already warmed to the camera. In the living room of her $27.5 million listing at the former Stanhope Hotel, “Selling New York” co-star Michele Kleier, of Gumley Haft Kleier, chatted with Osher about the current real estate environment and about how she got into the industry nearly 30 years ago. Now, she said, “I think you and I are two of the only really strong boutique firms that are around.” But despite her newfound reality television fame, Kleier remains, in her own words, “very old fashioned.” She told Osher, “I am not a person who you will find on e-mail all the time… I hate it when I’m out with somebody and they’re looking at an apartment and they’re on their e-mail. It’s like, so irritating. You know, give me 10 minutes.”

After losing three of its top agents to realty reality television, Core has managed to snag Doron Zwickel, the number-two ranked agent at Prudential Douglas Elliman, based on number of transactions, according to a statement from Core.

The new staffer is welcome news as the company has seen a handful of high-profile defections recently. Last month, high-performers Frederik Eklund and John Gomes announced they were leaving the company to participate in Bravo’s “Million Dollar Listing” reality show as Elliman agents, which will compete against HGTV’s “Selling New York,” also a real estate brokerage-related reality show. Both used to be on the latter show. Three days ago, agent Caroline Grane left Core for Nest Seekers, with plans to participate in “Million Dollar Listing” as well.

Shaun Osher, CEO of Core, said that Zwickel’s expertise was a key motivator in hiring him, and cited a “culture of transparency and integrity.” [more]

From left: Shaun Osher, Sofia Falleroni, Barak Dunayer, Marc Lewis, Gary Malin and Edward Longley

The Manhattan residential real estate market is doing fairly well, according to third-quarter reports released today by several of the city’s major residential firms, but a total housing recovery is unlikely soon as recent accounts indicate that there are hiring freezes and layoffs at Wall Street financial institutions like Morgan Stanley, Bank of America, Barclays Capital and Credit Suisse Group AG. “Since the financial services sector is one of New York City’s key economic engines and if we see layoffs and the hiring freezes persist, you could see fewer property sale and rental transactions in the first half of 2011,” said appraiser Jonathan Miller. [more]

Despite recent reports that Trump Soho sales have been weaker than claimed,
Shaun Osher, the founder and chief executive of boutique residential
brokerage Core, contends that the project was, at one point, 50 percent
in contract. Core had been charged with marketing the building to the
local and national markets until December 2008 alongside Prodigy
International, which was focused on international sales.”There were
some people that dropped out [after December 2008]” Osher told the New
York Times this weekend. As The Real Deal
reported last month, documents from the attorney general’s office
showed that the building was less than 16 percent in contract.
Meanwhile, Osher said activity elsewhere has picked up since a year and
a half ago, when the market had come to a virtual standstill. Core,
whose agents regularly appear on HGTV’s “Selling New York,” just
finished selling out the HK Organization’s 246 West 17th Street for
nearly $1,800 a foot, and has returned to the 80 percent-sold mark at
141 Fifth Avenue after a number of original buyers backed out of their
contracts during the downturn. [NYT]

[more]

As more NYC brokers and firms change business models and adapt to today’s Facebook culture, they are forced to transform their images too

From the June issue: Branding. It’s the reason you choose Coke over Pepsi, Stumptown over Starbucks or Barneys over Saks. But when it comes to buying real estate, how much do brand names matter? As Manhattan’s real estate firms jockey for position in a tough market, the significance of branding is changing rapidly. This month, The Real Deal looked at the importance of image — for firms and agents alike — in the altered marketplace. Some believe that brand loyalty is becoming less crucial in real estate, as technology grows increasingly sophisticated and consumers can access property listings without brokers’ help.

[more]

As more NYC brokers and firms change business models and adapt to today’s Facebook culture, they are forced to transform their images too

From the June issue: Branding. It’s the reason you choose Coke over Pepsi, Stumptown over Starbucks or Barneys over Saks. But when it comes to buying real estate, how much do brand names matter? As Manhattan’s real estate firms jockey for position in a tough market, the significance of branding is changing rapidly. This month, The Real Deal looked at the importance of image — for firms and agents alike — in the altered marketplace. Some believe that brand loyalty is becoming less crucial in real estate, as technology grows increasingly sophisticated and consumers can access property listings without brokers’ help.

[more]