Head over to the Garden State for a New York Minute to learn how Christie’s International Real Estate Group continues to outperform New Jersey’s challenging resi market. TRD sat down with Carlo Siracusa, Vice President of Business Development at Christie’s, for an inside look at how two of the firm’s new development projects leverage the legendary brand’s international bona fides.
“Christie’s doesn’t need to promote a luxury division,” explains Siracusa. “They are luxury.”
The Atlantic Club in Long Branch, which Siracusa describes as “the most luxurious condo community down the Jersey Shore,” boasts 75,000 square feet of amenities and 132 bright and airy units, each with a stunning Atlantic Ocean view. Further north, the firm is about to break ground on a 282-unit Port Imperial development across the Hudson from Manhattan, boosting inventory in a tight market.
Both projects embody the luxury lifestyle and design elements that buyers expect when they see the Christie’s name. They’re also a response to the tight inventory that’s driving prices up and sales volume down around New Jersey. However, Siracusa and Christie’s aren’t letting these headwinds keep them down.
“At Christie’s, we’re experiencing a 15% increase in sold volume versus the New Jersey MLS statistics,” says Siracusa. “We’re actually experiencing growth where the market is actually experiencing a decline.”
Thanks to the internationally-respected Christie’s brand and cutting-edge partnerships like the one Christie’s International Real Estate Group has forged with real estate AI firm Deepblocks, Siracusa and his team are driving the market instead of letting it drive them. Watch the video for the full story.