MOMA and Me ( and J, too!)

Last night, thanks to an invitation from J., I had the most wonderful evening at MOMA. ( The Museum of Modern Art)

The event was the opening reception for The Contemporary Galleries ( 1980- Now) new exhibit. With works by (among others) Keith Haring, Martin Kippenberger, and a heart tugging, simple yet moving, piece by Felix Gonzalez- Torres.

Torres "was known for his quiet, minimal installations and sculptures. Using materials such as strings of lightbulbs, clocks, stacks of paper, or packaged hard candies, his work is sometimes considered a reflection of his experience with AIDS" Many of his installations invite the viewer to take a piece of the work with them: a series of works allow viewers to take packaged candies from a pile in the corner of an exhibition space and, in so doing, contribute to the slow disappearance of the sculpture over the course of the exhibition.

The most pervasive reading of González-Torres's work takes the processes his works undergo (lightbulbs expiring, piles of candies dispersing, etc.) as metaphor for the process of dying. However, many have seen the works also representing the continuation of life with the possibility of regeneration (replacing bulbs, replenishing stacks or candies)

The piece currently featured at MOMA involves taking some hard candies with you - and in my case lead to a 20 minute discussion on HIV and the difference between the attitude and perception towards HIV, and the people living with it, over the past 20 years. In my 20's, we all knew someone affected with HIV and were bombarded by the PSA's warning us as to what the disease was, how it was transferred, and how to protect yourself from it. Now, it seems, very few of us know someone suffering with the disease ( thank goodness!) but at the same time, the education of the younger generation seems to have dissapated to a large degree. Will this lead to a resurgence? Perhaps a stronger strain? All interesting thoughts - and exactly what art is meant to do... provoke discussion. Thank you Mr. Gonzalez-Torres.

This is similar to the sculpture we were presented with last night:

J and I also had the privilege of spending time with one of the communication directors for MOMA, who provided us with a detailed overview of several different pieces in the exhibit. Wow! Some of the more modern pieces that I had just dismissed as simplistic and not all that exciting - after being explained the technique, and meaning behind the technique by the lovely and brilliant RT- opened my mind to a whole new way of thinking.

I walked away from last night feeling not only re-energized by art, but intelligent as well. My mind was given quite the workout - and boy did it feel good! ;)

Sellers and Pricing

Another great article from The Apple Peeled

The pricing quandary:What’s a seller to do?

by MCINTOSH on NOVEMBER 4, 2011

There’s a bit of a dilemma that sellers face when pricing their properties.


On one hand, they’re told to price to sell and be competitive in the market place.


On another hand, when they do so, buyers balk at paying the asking price, regardless of where it’s set.


Buyers often want the sellers to be more realistic but will rarely adjust their bidding strategies accordingly.


For all you buyers: the asking price should largely be irrelevant to you. Why? Because, as we’ve written before, you should do your due diligence and get a sense of what the apartment is worth and what you’re willing to pay BEFORE you make an offer. Only thus can you gage how well priced the property is and whether the asking price is merited. The asking price is merely a starting point for conveying a seller’s thinking.


The purpose of pricing low is to generate the volume of buyers and subsequent interest that would render the property sold for the highest price in the shortest period of time. Should you therefore find yourself in a bidding war (after all, this is the strategy of savvy sellers who underprice properties), then at least you already know how high a price you would be willing to pay.

Me and Argo Tea

I think I have a new obsession coming on... and it's name is Argo Tea. Much like Starbucks and Jamba Juice before it, Argo Tea takes the same formula ( a quality variety of beverages - in this case wonderful tea concoctions - paired with comfortable seating for those who would like to read, have a quick meetup, or do some work on a laptop)

Today I had a "Red Velvet" which is a mixture of red tea, steamed milk, white chocolate, and raspberry. It was delicious. Since I am not a fan of coffee, and until now, would need to order either a Caramel Macchiato or a Chai Latte at Starbucks for a little kick or a quick break in between showing apartments. Other choices include a Teappuccino (tea, caramel, and milk froth) or how about a little Earl Grey Vanilla Creme? ( earl grey tea, sweet vanilla, and steamed milk - yummy!)

At the moment there seem to be only a handful of Argo's in Manhattan - with the ones I have visited so far being in Chelsea, the Flatiron building, and at University@11th Street. Please Argo Tea, hurry up and pop up some more!!!!

The Dutch

Had a lovely Book Club dinner with the girls last night at one of the "in" restaurants of the moment - The Dutch in Soho. The food was amazing! I had the spice glazed pork chop, swiss chard and apple, along with a side of spaghetti squash with walnuts and sage - It was comfort food with a twist of glam - beyond satisfying. There wasn't a bad or even so-so dish at the table. The pecan duck, tripe, little oyster sandwich, and the ruby bbq shrimp with green chili grits, bacon and fried all were given thumbs up. Everyone was so satisfied and full that no one ordered from the tempting dessert menu. Even S. resisted the Devils food cake with fudge sauce and white russian ice cream! We will be back for sure. I think this just became one of my new favorite places.

Lawyer sues over breakfast bait and switch - NYPOST.com

The Setai is a beautiful condo in the Financial District. Sad to see something be this blown out of proportion.

Lawyer sues over breakfast bait and switch - NYPOST.com

Madonna - Give Me All Your Love - Full New Single 2011

As a long time Madonna fan - and having been to quite a few of her concerts over the years ( including a fabulous night backstage at the Meadowlands during the Blonde Ambition tour!) I have certainly rocked out to her songs on many a treadmill, airplane, and subway ride via walkman's, discman's, and ipod's ( oh my!) .... I am not so sure I am feeling this one ...??? Take a listen.

Madonna - Give Me All Your Love - Full New Single 2011

Gramercy Park - My old home - Jen Aniston's new one!

View Gramercy Park and over 3,000,000 other topics on Qwiki.

PARM - Now Open = Yummy!

As a cheese fanatic ( I prefer cheese over chocolate!) - I can't wait to try this place...

Inside Torrisi Spinoff Parm, Opening Today at 11 AM

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[Krieger]

Parm, the new lunch spot and full fledged restaurant from the team behind uber popular Torrisi Italian Specialties and one of the biggest debuts of the Fall 2011 season, opens to the public today at 11 AM. All lunch operations from Torrisi now live at Parm, which is outfitted with a bar and counter with swivel stools, a small dining room, and actual table service. On offer for lunch now (in either roll, sub, or platter form): roasted turkey, chicken parm, eggplant parm, meatball parm, sausage and peppers, chicken francese, potato and egg, Italian, and a new addition that's already getting raves from the friends and family crowds, a Saratoga Club.

NICE ARTICLE ON HOW TO FIND A BROKER TO WORK WITH>>>

How to choose a broker: the unscientific guide to finding the right match for you

by HONEYCRISP on SEPTEMBER 9, 2010

Choosing an agent, particularly on the listing side, can be very tricky.  We’ve been asked quite often how to actually go about picking with whom to work, so we’ve put together some thoughts on the matter that we hope you will find helpful.  This section is split up between general thoughts, and questions you may wish to ask agents before making a decision.

Does the firm matter? Yes and no.  On one hand, you want to make sure that your listing will receive the adequate marketing dollars to get sold, and will be represented professionally.  The real question here is how helpful is the firm to your agent?  How many resources are dedicated to making your agent’s life easier in doing the best job of marketing your property, or does the agent need to reinvent the wheel with each and every client?  Also, ask yourself this: do you remember the firm representing the seller when you last bought your property?  Probably not.  You DO likely remember that agent’s demeanor, how (s)he worked through the negotiations process, etc.

Online statistics: With the internet being such a powerful resource for buyers and sellers alike, it’s no wonder that every firm is bending over backwards to come up with the best online stats that showcases their prowess in attracting buyers.  The truth is (we should instead say, “our belief is”) that do-it-yourself buyers, i.e. those with no representation, doing all of their own homework, are likely to avail themselves of aggregators like Streeteasy, Trulia, or Propertyshark.  They are unlikely to be wed to any one brokerage site to find listings.  Further, such buyers make up but a tiny portion of transaction volume.  Having a fantastic online presence is great, but it shouldn’t be the decision-maker.  Infinitely more important is the description of the property that they find on the site (written by an individual agent), the accessibility of the agent representing the property, etc.  In other words, finding the property is merely the beginning.

Commoditized services: Though everyone has a different way of listing a property, certain services are largely commoditized (i.e. if you don’t get them, something’s wrong).  All agents should take professional pictures of your home for use in show-sheets, online advertizing, etc. All of them will conduct some kind of mailing to the building and surrounding properties.  All agents will host open houses on your behalf.  All of them will (via their brokerage firms), make sure the listing is accessible on Streeteasy, The New York Times, the broker-to-broker listing system, etc.

Team or no team?: Some people swear by teams because they can make sure not to skip a beat in terms of showing the apartment, being available 24/7 among the different team members, having multiple minds all working for your, etc.  If you choose a team, make sure you don’t get pawned off to underlings once your listing is “won”.  Other people prefer working with an individual to have only one point of contact and a continuity of experience.  If you choose to work with an individual, make sure (s)he has the capacity to handle your listing and that you have a strong relationship with him/her.

The bottom line, in our view, is that you’re working with an individual or a team of individuals.  They are the ones who matter in the process of selling your home.  Don’t get swept up by the glossy brochures or the fancy statistics.  Try to find the real human being(s) behind the pitch by asking some of the following questions:

-       Why are you in real estate? (something beyond “I like people” would be preferable here)

-       Give me an example of a time when you told your client something (s)he didn’t want to hear. How did you do so and how did things turn out?

-       Give me an example of when you were wrong or made a mistake – how did you rectify it?

-       What is your take on the current economic environment and market dynamics? Why should I sell now and why should I not? (Test for market knowledge beyond the transaction, itself.  The agent should be able to argue the other side of the equation, as well.)

-       What do you feel is your greatest value-add in your working to sell my home?

-       Give me an example of your being proactive with your clients.  How do you partner with them?

-       How do you track activity on my property? How often should I expect to hear from you?

-       What is your philosophy on co-broking and working with other brokers, in general?

-       May I please have three references to contact?

As you listen to the answers given, look for authenticity, depth and compatibility with your personality.  You are about to embark on a journey that will likely test your emotions, ego and patience.  Make sure you find the right partner for that experience.

Best Hotel Suites in the World

Hmmm. Which one to choose?

 Click here to see the CNN's top hotel suites around the world.

Had a nice dinner last night with my cousin Brittany who is working at DKNY for the summer. We went to the new Sam Talbot restaurant Imperial No. 9. Imperial is located in the Mondrian SoHo hotel on Grand Street. Entering the hotel through a gorgeous hotel through a forest of trees, through the blue feathered lobby, and into the beautiful greenhouse/garden dining room is a bit surreal. The food is mostly fresh seafood styled tapas. I highly recommend the scallops.

International buyers are back! C’est vrai!

by RED DELICIOUS on AUGUST 1, 2011

It’s been some time since we’ve talked about foreign investors.  We now have good reason to revive the conversation.  According to Urban Digs, much of the uptick in activity we’ve seen over the last six months has come from foreigners swooping in for pied-a-terres, looking to buy their piece of the Big Apple.  Indeed, even in our business, we’ve seen an uptick of investor activity coming from abroad, particularly Brazil and the Middle East, with a Greek and Turk here and there.  What this means for you sellers is a bit of cultural sensitivity of what this may mean in the course of a deal:

-       Though still a rarity, it’s not unheard of to have offers made on apartments sight-unseen by buyer’s brokers who understand their clients’ needs inside out.  Maybe they lost out on a previous deal, maybe they have a friend in the building.  Nonetheless, don’t be surprised if they don’t need to see the apartment, either to make an offer or gulp to sign the contract.

-       Many foreigners find the concept of divulging all of their financial information to be considered for a property … well … just foreign.  Be sensitive to the fact that they may feel offended by the idea of showing all their cards.  Take care when asking personal information and assure them that this is to simply understand who they are and weigh their qualifications against those of other interested buyers.

-       Lastly, most foreigners will be purchasing properties in cash versus opting for some financing vehicle.  This is particularly the case for pied-a-terres, where one NYC apartment might represent a mere fraction of their world-wide real estate holdings. Don’t discount an all-cash offer with minimal supporting documentation behind it.  Instead, explain your reasons for requiring more information of the buyer to ensure you don’t hit a sensitive spot

When should you buy in a new development for the best deal?

by RED DELICIOUS on JULY 18, 2011

With tax abated properties getting absorbed with each passing week and the inventory of spanking new properties dwindling, fresh new developments coming to market are attracting many interested buyers.  Generally, they are frustrated by the feeling of seeing properties 80%+ sold and having few options from which to choose.  They are also feeling the pressure of decreasing jumbo loan limits and wanting to take advantage of today’s historically low interest rates.  

If you are one of these buyers, you may wonder: “is it better to aggressively jump on a brand new development and purchase one of their first units or wait until a few months down the road to gain the greatest pricing leverage?”  Unfortunately, no clear answer exists.  This is because one could argue the greatest pricing leverage to be had at multiple milestones during a new development’s lifecycle:

·      When it first hits the market argument: the developer seeks to prove viability and will likely discount the first few units to get some sales under his belt

·      The 30% sold argument:  many lenders won’t touch new developments until buildings reach this threshold so the developer is incentivized to hit that mark

·      The 50% sold argument:  50% is the minimum threshold to get Fannie approval, thereby increasing financing options for would-be buyers, therefore the apartments sold prior to that mark should get a good discount

·      The last few units left argument:  once a developer only has a few apartments left, the theory goes, they’ve made most of their money and just want to be done with the project so they’ll discount the last few units.

Now, go back to each of these arguments and think of the flip side of the equation, why it makes no sense for the developer to discount at any stage … not too hard a task, eh?  What we’re saying is that you could strategize ‘till you’re blue in the face and you may never fully understand the developer’s unique circumstances, strategizing until the building is sold out and you’re left with nothing to show for it. 

Use your own personal situation and life needs to guide your decision-making instead.  Does the development have the kind of features you seek?  Do you have the financial wherewithal to purchase the apartment?  What alternatives exist to you?   By letting your situation guide the process, you’re sure to maximize your purchase discipline and minimize any regrets down the road.

Should you leave your apartment on the market during the summer?

Compliments of the Apple, Peeled:

The summer slow-down myth exposed

by MITCHEL ASKINAS on JUNE 17, 2011

It is considered common wisdom that the summer presents both sellers and buyers with the annual seasonal slowdown, both in the number of listings coming to market and in the number of contracts signed.  This is said to be the case due to the mass exodus of residents leaving the city for their Hamptons homes or European villas.

Now, while this might be true for those millionaires living among us (and there are plenty, to be sure), this is certainly not the case for the bulk of the properties responsible for a vast majority of sales volume nowadays, buyers and sellers of apartments under the $1.5 million mark.  Buyers in this range are quite serious and frustrated by the general lack of quality inventory, while sellers are motivated to make a deal and move on with their lives. The more people understand this reality, the less likely this “common wisdom” is to become a self-fulfilling prophecy. 

As Fred Peters wrote on Warburg’s blog about the history of this wisdom:

Increasingly, as smaller apartments entered the sales mix, the seasonality curve flattened. It didn’t disappear, but it flattened. If you are buying a one or two bedroom, you probably don’t care that much whether you are buying it in January or July. You are not spending the summer in the Hamptons. And increasingly we live in a world of two income couples; most of THEM are not spending the whole summer in the Hamptons either.

So what does this mean for everyone?

• Existing Sellers:  If you’ve been on the market for more than a few months, you might be considering pulling your property off the market and waiting it out unit Labor Day.  Don’t!  Instead, use this opportunity to freshen up your listing:  1) re-run your comps to make sure your price is competitive;  2) look at the apartment with a fresh set of eyes as it relates to staging, and 3) consider taking new pictures, particularly if you have outdoor space that looks greener now than it did a few months ago.
• New Sellers:  Remember, waiting until the fall to list, while it may mean more traffic, also means more competition.  Consider listing now full-steam ahead to take advantage of the general tightness in the market and today’s low interest rates to woo buyers.  Just because you’re getting fewer buyers coming through the door doesn’t mean that they are any less motivated; quite the opposite.  Those buyers coming to you now are likely to be more serious than during other times of the year, as they’re giving up barbecue and beach time to visit properties.  Should any offers arise, engage them fully and negotiate every step of the way.
• Buyers:  The hot summer months don’t mean you need to put your search on hold until the leaves start turning.  If you’ve been in the market for several months and have not been finding properties in your price-point, you can leverage this time to test out wider negotiation margins for properties you do like.  Furthermore, those savvy sellers who do list now (read above) are likely to understand the market well and are also likely to be priced correctly.  Lastly, know that you are taking advantage of historically low interest rates.  Who knows where rates will be in the fall?  Work with your broker to stay on top of new listings as they come online so you can pounce on them, should they be the right fit.

To both buyers and sellers, take heart.  The summer in no way means you can’t get what you’re seeking: a meeting of the minds with the other side.  So grab your lemonade and flip-flops, and put your best foot forward!  There are some great transactions to be had!

Good News for Battery Park

Nice to hear this positive news for one of my favorite areas to sell in.



Battery spark - NYPOST.com

Elle Decor concept house at +ART

Please click on the title to see more about this year's Elle Decor's Concept House to be featured at one of the new development's I worked on - +Art in West Chelsea. Oh - and tickets benefit a good cause - Housing Works. 

A Visit to Providence

Hello All:

I am currently in Providence Rhode Island to attend a marketing conference over the next two days. I am looking forward to learning new ways to better serve my clients.

I am always so energized and excited to attend these kind of things. There are always a few good ideas  or strategies that  result from a few days of sitting in a hotel conference room somewhere in the world. :)

It is also nice to get out of NYC for a couple of days. These past few months have been extremely hectic for me - with finishing up  the sales at Columbia Commons -and 6 weeks of Jury Duty at the same time!. I have been playing catch up over the past month, so now is the perfect time to spend some time, knee deep, in the resale side of my business.

The part of this excursion that I am not so happy about ... thanks to a "check in" on Foursquare at my hotel - The Providence Biltmore - an historic beauty built in 1922,  it listed as one of the "tips" that at this hotel was  named "most haunted hotel in America" in 2000. Not really what a girl who already has trouble sleeping at night wants to hear! Ugh. Here is hoping that I don't have any unwanted visitors this evening.

Happy Mother's Day!!!!

The Book of Mormon

Last night I had a chance to see a preview of The Book of Mormon, a new musical on Broadway, from the creators of South Park- Matt Stone and Trey Parker. All I can say is it is hi-lar-i-ious! Certainly not for the easily offended as it does cover certain topics that 1. have for sure never been sung about in any previous Broadway show and 2. are not for the faint of heart. 

I highly urge all of you to "man up!" and check out this show soon. It will definitely be one of those productions that becomes impossible to get tickets for. Think - The Producers a few years back, and you'll get the idea. 

Jury Duty Calls

So... Just when I thought my life would be getting back to normal soon, now that we are down to only 1 ( yes 1!) apartment at Columbia Commons - everything changed with a little thing called a jury summons. 

A couple of weeks ago I was "summoned" for jury duty. Sure enough, my name came out of that little bingo-esque twirly contraption not once ( as a potential juror for a specific case) but twice! - the second time resulted in me sitting in one of those very  uncomfortable juror chairs to be voir dire'd ( the legal term for being asked a lot of questions to see if I am someone both attorney's would accept as a juror on the case).

***Now a little background here - I have already served on criminal cases twice before. So, by now I know, if my name is called, and I wind up in that chair, I am pretty much going to be chosen. ( Why is it my name is never chosen to actually win something from all those raffle tickets I am forever buying each time I am asked?) And BINGO - sure enough, I am now I juror on this case. ( sorry, not allowed to disclose the deets - check back in a few weeks)   

And here is the best part (not) - The case is expected to last up to 6 weeks. Let me repeat that - SIX WEEKS!!! All of a sudden I have another job that I wasn't even looking for. (since it pays me all of $40 dollars a day, I can't say that I would ever be applying for such a job.)  But none the less I now spend every weekday ( except Thursday's when the judge has something else to do) in a courtroom, listening to testimony, while doing real estate (my real job) during breaks and lunch, and on Thursday's and weekends. 

So much for thinking I was getting back to spinning classes and regular gym workouts this month. Ugh! 

I did have a nice night out this week with the girls. We had dinner at the relatively new Beauty and Essex ( same owners as Stanton Social) - which I must say has just crept up the list to be one of my favorite dinner/lounge hang outs of the moment.  The food is very good ( drinks could be a little better) - the scene is nice - decor is excellent - and the best part free champagne in the lounge area of the ladies room! Ingenious! 

Here are a few shots from the inside:  

         

         

         Too bad the courthouse doesn't have free champagne in the ladies room!

Recent Real Deal Coverage - Columbia Commons

Columbia Commons was featured in the March 1st edition of the Real Deal. As the press lags a little behind when referring to numbers - the reality is we only have two apartments left! Here is what they had to say yesterday in their "Development Updates" column:

Cobble Hill 

Columbia Commons 

110 Warren Street 

The new condo, a joint venture of L+M Development Partners and the Urban Investment Group at Goldman Sachs, is now 88 percent sold after hitting the market in May 2010. Five units of between 609 and 848 square feet now remain up for grabs, with prices ranging from $399,000 to $650,000. The two-building complex has a shared courtyard, roof deck, fitness room and underground parking garage. Halstead Property Development Marketing is the agent. Contact: www.columbiacommonsbk.com. 

February Heym Report

Click on the title of this post to check out the recent edition of the Heym Report created by Halstead Properties chief economist. In it he discusses Wall Street bonuses, recent  mortgage rate trends, and job growth in NYC. All of which, have a direct effect my favorite subject - Manhattan Real Estate! 

Starting to feel almost like real me again- thanks to Curacao

So - for many of you know me, one of my most favorite things on earth is travel. I have been to many, many places already including India, Iceland, Thailand, most of Europe, Argentina ( several times - BA is my second favorite city after New York) Chile, Brazil, Costa Rica, almost the entire Caribbean, China, and more. 

Due to hip surgery in November 09 and my non stop work schedule since, I am very sad to say that I have not taken any "real trips" since shortly before then when I spent a week in Guatemala. BUT - Now that my current development is almost sold out and I can finally see the light at the end of the tunnel, the travel planning has begun! 

First up - I have always wanted to learn to Scuba Dive. It was actually on my New Year's resolution list this year - so for Memorial Day weekend, I will be doing just that - in Curacao! I figured it was a sign from the travel gods when exactly a day after spending several hours searching Expedia, Orbitz, and many other travel sites, a Curacao special popped into my inbox. With a $400.00 savings on hotel and air, a $200 food and beverage credit, and a free dive being part of the deal, I couldn't resist. 

So now I am booked at the Hyatt Regency which you can see more of here: http://curacao.hyatt.com/hyatt/hotels/index.jsp?extCorporateId=

I am all tingly, and can't wait!!!!

But if you need me to sell any real estate before then... 

Almost sold out at Columbia Commons means more time to Blog!

Hello Friends: 

Once again time has passed with all good intentions to update this blog more regularly - but alas the wide world of NYC real estate always comes first. I am very pleased to announce that we are down to our last two apartments at Columbia Commons located in the Columbia Street Waterfront District -  steps away from the new Brooklyn Bridge Park as well as Court and Smith Streets with all their fabulous retail and restaurants. Last week, I checked our Char 4 ( pic above) on Smith Street and found it's BBQ/Southern Style dishes very yummy - especially the corn flake encrusted crab cake! When you are in the neighborhood - check it out: http://www.charno4.com/v1/