Lobbying for sales

With buyers now choosier, developers are willing to spend more
By Jane C. Timm | April 20, 2012 04:00PM

From the April issue: You only get one chance to make a first impression. And in today’s tough real estate market, that impression — the lobby — is costing some residential developers more than ever before.

“It’s a very, very educated and discerning buyer in the market right now,” said Tom Elliott, executive vice president of marketing at El-Ad Group, developer of 250 West Street in Tribeca. “We’re spending a lot more money on common areas because the buyer is much more discerning.” [more]