When sales launched at the Baltic in Park Slope back in 2016, the condo building had the market to itself. But then things started softening, and more nearby developments started launching sales.
By the end of 2018, there were about 1,000 condo and rental units on the market in just that one neighborhood.
To sell the remaining apartments with that new competition, the project, developed by Michael Stern’s JDS Development, had to change its strategy, said Robin Schneiderman, the director of business development … (2 comments)
new york real estate market: Brokers pay more attention to needy first-time buyers
- 06/09/09 03:14 AM
Largely ignored during the boom because of their relatively paltry budgets, first-time buyers have suddenly found themselves among the most highly coveted client groups for New York City's real estate brokers. With few deals to latch onto, brokers have started paying much closer attention to them and are now giving them first-class status. In this month's Q & A, brokers told The Real Deal that first-time buyers now constitute anywhere from 30 to 70 percent of all of their clients. That's a jump from 15 to 50 percent from before the credit crunch. While these first-time buyers require far more handholding … (0 comments)
new york real estate market: FORMER CORCORAN SUNSHINE SALES DIRECTOR SUES BROKERAGE
- 05/26/09 09:46 AM
Former Corcoran sales director suing for commissions from Five Franklin, the Avery and Linden78 A former sales director for Corcoran Sunshine Marketing Group says she has been stiffed for more than a quarter million dollars in residential brokerage commissions for sales in high-profile developments including Five Franklin, the Avery and Linden78, a court filing says. Broker Nancy Reese accuses Corcoran Sunshine and other Corcoran entities of withholding at least $200,000 in commissions on closed sales and says the developer of Linden78 owes her $70,000 in commissions on canceled contracts, the court papers say. The lawsuit was filed at a time when … (1 comments)
J Condominium The J Condominium at 100 Jay Street, between York and Front streets, is offering one month of free rent to anyone who signs up for a $2,400 per month studio, according to a listing on Craigslist.com. The listing for the Dumbo building also offers no broker's fee and no application fee. The Corcoran Group is the sales and marketing agent for the 267-unit building.
Manhattan House O'Connor Capital Partners has ousted Prudential Douglas Elliman as the exclusive broker at Manhattan House, the landmark Upper East Side condominium conversion that has struggled under a debilitating credit crisis, The Real Deal has learned. Elliman Vice Chairman Dolly Lenz, who supervised the Manhattan House sales team, was officially notified of the decision late Monday, following weeks of negotiations involving frustrated apartment buyers, existing tenants and HSH Nordbank, the senior lender, according to sources. Corcoran Sunshine Marketing Group and O'Connor Capital Partners issued a joint statement confirming that Anne Young, senior managing director of Corcoran Sunshine, … (0 comments)
new york real estate market: During down market, trade up
- 12/12/08 12:28 AM
Brokers say the down commercial market is a good time for companies to trade up to better buildings and better built-out spaces. A large downtown block of space that's available and fully built-out is Citigroup's 1.2 million square feet at 125 Broad Street, at South Street. Citigroup notified landlord Mack-Cali Realty Trust that it won't be renewing its space there at the end of 2009, and can make space available sooner as some of the floors are sitting empty.
New residential projects are coming online fast and furious, but some have expressed concern about how quickly they can be absorbed
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