137 Fifth Avenue, Brooklyn
A boutique condo-turned-rental development at 137 Fifth Avenue in Park Slope has hit the market this week with an asking price of $4 million, according to the exclusive marketer, TerraCRG.
A spokesperson for Terra indicated that the current owner, Martin Handler, is also the building’s developer. The 6,830-square-foot building offers four market-rate residential apartments as well as ground‐floor retail space, according to a statement from Terra. [more]
From left, Prudential Douglas Elliman’s Dottie Herman, Halstead Property’s Greg Heym and the Corcoran Group’s Pamela Liebman The volume of Manhattan home sales declined at least 12 percent in the fourth quarter of 2011, although prices continued to hold steady, according to quarterly reports issued today by the city’s largest residential real estate brokerages. Experts proffered a host of explanations for the drop in sales activity, from global economic chaos to low inventory levels to financing issues for buyers in the middle of the market…. [more]
William Zeckendorf, co-developer of 15 Central Park West and a co-owner of Terra Holdings, parent company of Halstead Property and Brown Harris Stevens, has gone into contract to buy a two-bedroom, 17th-floor apartment at 740 Park Avenue, a building once owned by his grandfather, for $27 million, the New York Post reported.
The 10-room apartment is owned by video game magnate Gregory Fischbach and his wife Linda, who bought the apartment in 1994 for $6.3 million. It was once owned by John D. Rockefeller, who planned to join the unit with his duplex below but never did.
Zeckendorf has been busy maneuvering his personal real estate assets of late…. [more]
William Zeckendorf and 927 Fifth Avenue
William Lie Zeckendorf could probably teach his legion of real estate brokers a thing or two about doing a deal. According to the New York Observer, the co-owner of Terra Holdings, parent company of Halstead Property and Brown Harris Stevens, flipped the top half of a 927 Fifth Avenue duplex for as much as $5 million profit in a matter of six months.
Sources told the Observer that the five-bedroom spread sold for “well over” its $31.5 million asking price, and may have even brought in more than $34 million. Zeckendorf paid $29.1 million for the portion of Bruce Wasserstein’s old duplex in a one-day auction in December. BHS’ John Burger brokered the deal but wasn’t available for comment…. [more]
The Manhattan residential real estate sales market can best be characterized as stable, according to second-quarter reports issued by the city’s largest real estate brokerages, signaling strength amidst an uncertain economic climate elsewhere in the country. Reports from Prudential Douglas Elliman, the Corcoran Group and data from sister firms Halstead Property and Brown Harris Stevens show mixed but healthy indicators. In a still strict lending environment, it comes as little surprise that the best performing sectors of the market — the top end of the market where buyers are wealthiest, and the bottom end of the new development market where units qualify for Federal Housing Authority-approved loans — were those where financing came easiest. … [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]
[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]
A former vice president and director at Brown Harris Stevens has been named director of sales for Brooklyn at sister company Halstead Property, Halstead announced today.
Starting July 11, Trish Martin will manage Halstead’s offices in Brooklyn Heights, Cobble Hill and Boerum Hill with a goal of enhancing the presence of the firm in the borough.
Martin is replacing Roberta Benzilio, who has been promoted to executive director for Terra Development Marketing, a new company overseeing new developments for Halstead and Brown Harris. TRD
… [more]
By Katherine Clarke and Lauren Elkies
Terra Holdings, parent company of Brown Harris Stevens and Halstead Property, is launching a new development marketing company and Stephen Kliegerman, executive director of new development marketing at Halstead Property, has been selected to head it up, according to an internal memo leaked to The Real Deal. A public announcement is imminent, according to a spokesperson for Halstead.
Kliegerman will not be leaving Halstead. Terra Development will market development projects represented by both Brown Harris and Halstead, of which Kliegerman will become president.
Though the memo dates back to April, the move has remained relatively under the radar. When contacted by The Real Deal late yesterday afternoon, Halstead would not disclose any information about the move, but said a public announcement would be released within the next 48 hours or so…. [more]
Jim Gricar will leave his role as the West Side manager at Brown Harris Stevens to fill a new position, general sales manager, at Halstead Property. The two firms are owned by Terra Holdings and Gricar said the move lacked the controversy typically associated with job changes.
“The owners approached me about the opportunity and I was very excited,” Gricar said. “I’ll get to work directly with Diane Ramirez [the president of Halstead] and manage operations, not only on the West Side, but across the firm.”
The move is effective April 4. TRD… [more]
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