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Residential
New York

Lobbying for sales

With buyers now choosier, developers are willing to spend more

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.

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“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]