Developer Broad Street Development Signs First Retail Tenant at Fashionable New Luxury CondominiumRead More
77 Greenwich, the new residential tower designed by a “Who’s Who” of local design talent, including FXCollaborative, the architecture firm behind the new Statue of Liberty Museum, and Deborah Berke Partners, the lauded design firm that crafted the interiors at 432 Park Avenue, has officially topped out. We’ve just received a new set of photography illustrating the progress of the tower, which is bringing 90 condominium residences with show-stopping water views, prime retail space and a new public elementary school to the heart of Lower Manhattan.
Topping out at 500 feet, the 42-story building features a pleated glass curtain wall façade (which as you can see in the photos, is beginning to take shape) that provides sprawling water views from each of the homes—which begin on the 15th floor located nearly 150 feet above street level—and rises from a cast stone base that nods to its historic neighbors and location. 77 Greenwich also includes the preservation and restoration of the neighboring Robert & Anne Dickey House, a historic landmark built in 1810 that is one of the last remaining Federal-style buildings in New York City, which will be seamlessly incorporated into a new elementary school.
The building, which recently launched sales this spring, features 90 residences ranging from one to four bedrooms and a suite of amenities designed by Deborah Berke Partners. Headlined by a penthouse-level club known as Cloud Club 77, every resident is afforded a penthouse view via spaces including an art-filled lounge with a fireplace, a private dining room with catering kitchen, a children’s playroom, and a double-height fitness center programmed by celebrity personal trainer Jay Wright. The building also offers expansive outdoor space designed by Future Green Studio, which includes a 3,600-square-foot rooftop garden and a 2,350-square-foot lower floor terrace featuring pergolas and a dog run.
Despite what you may have heard in one of the million “Millennials are killing [insert industry here]” articles, young people are buying homes. Millennials and Gen Yers made up about 34% of home buyers in 2017, a number that’s only increased in the past two years. Millennials make up a fair amount of first-time buyers nowadays, so it's important to know some of the best ways to market your real estate to this demographic.
Use these tips to help draw in more Millennial house hunters to your property and get better offers in the long-run.
Millennials Are Obsessed With Location, Location, Location
We know you’ve heard the saying about location, location, location. That’s because a great location is key no matter who you're selling real estate to. However, Millennials may have certain requirements when evaluating a neighborhood. Because many Millennials are childless, they may not be as concerned with school districts as previous generations. Instead, they may be more concerned with proximity to public transportation, the cost of living, and whether or not the neighborhood is “cool”.
Obviously, you can’t pick up and relocate your property, but it's important to know how to talk about your home's area in a way that will appeal to a younger, more adventurous demographic. As many as 69% of Millennials consider themselves to be adventurous, so if your potential buyer seems like the type, talk about some of the activities in the surrounding area that can cater to this preference.
Consider The Community
When a buyer is looking at your property, they're not just looking at the house itself; they're also looking at the surrounding community. Your neighborhood could potentially be damaging your chances of finding a buyer, even if it's a fairly nice area. How? Community association fees could be driving up the long-term cost of living at your location. The employment of real estate and community association managers is predicted to grow by 10% between 2016 and 2026, meaning the costs are only likely to increase. Be sure to factor that into your pricing negotiations, especially since Millennials tend to be fairly careful with their money.
Remember Your Repairs
While Millennials are often looking for a well-priced home, that can sometimes come at another cost. Younger generations tend to be more likely to look for fixer-uppers for the sake of a lower price on the property. While this means you can likely get away with leaving some types of repairs for the buyers to take care of, there are a few that will still be deal breakers. Check for major issues, particularly with electricity or plumbing. Hard water, for example, might not be readily apparent to buyers but will become an issue upon inspection. A whole 85% of American homes have hard water – water that contains high levels of calcium and magnesium. Install a water softener or find other ways to repair necessary plumbing before listing your property. Don't worry as much about a wall that needs new paint; most buyers are willing to look past that.
Taking On Technology
If there's one quality that the majority of Millennials and Gen Yers share, it's that most are fairly tech-savvy. Because these generations have grown up surrounded by technological innovation, it's become a must-have for many home buyers. Look for ways to integrate smart technology into your property, such as programmable thermostats and other smart appliances. While it might seem like a fairly frivolous add-on, these extras can make the difference if a potential buyer is torn between your property and someone else's.
While many people still fall for the stereotype that Millennials aren't looking to buy homes, that couldn't be further from the truth. Plenty of Millennial buyers are out there just looking for the right place to call home. If you want to increase your property's chances of a higher offer, use these tips to market to this particular demographic.
Scott Disick's reputation has been built as a member of the Kardashian family, but the star hopes to come into his own and build on his love for property development with a new show called Flip It Like Disick.
"I'm excited to bring fans a new series that shows what I'm really passionate about professionally, which is flipping real estate and doing crazy and impressive renovations on celebrity homes," says Disick.
In a new promo with friend Khloé Kardashian, the pair introduces the new eight-episode show. Starting this summer, each episode of the E! television show will last an hour in length and air every Sunday.
Disick will be teaming up with interior designer Willa Ford to transform high-end homes into dream locations. The promo showcased Disick driving a tractor into a wall and joking with his team of renovators.
According to People, Disick's love for renovating came from his first successful home flip more than five years ago. Since then, he has renovated and developed the homes of fellow A-listers, including the playhouse for his three children with ex Kourtney Kardashian.
That's not to say that Disick won't experience a few hang-ups along the way. Home renovating is known to unveil additional problems and costs within a home that must be dealt with before the fun stuff can begin. For example, it's estimated that one in 15 American homes have high levels of radon. This is made even more difficult when his exterior design budget is reigned in by an HOA, which residents have a one-in-five chance of moving into throughout the United States.
It isn't known if Disick will run into any of these problems on his show just yet. We'll have to wait for the series to premiere on August 4 only one month after Khloé Kardashian's show Revenge Body.
Disick is also slated to produce the show with the help from Kardashian mom Kris Jenner. He will also receive help from business partner Benny Luciano and contractor Miki Moor to improve celebrity houses.
Disick's team will likely rely on the help of hard money loans, a term which has been around since the 1950s. While these shows are growing in popularity, this type of investment isn't for the faint of heart; these quick turnaround investments can make or break a house flipper's career.
Even popular house renovator Joanna Gaines recently admitted to experiencing dread before a house flip.
In a personal essay published by Magnolia Journal the Fixer Upper star wrote that she feared each flip would be the one that proved she wasn't cut out for this line of work.
"There was this continual, underlying dread that any one of those decisions that I was trying to pull out of thin air could be the one that proved once and for all that I was no good at this work," wrote Gaines. It was only after she let go of her perfectionist attitude that she was able to let her designs flourish.
After all, it can take whole home remodels up to one year to complete while home additions might take between three and nine months.
Disick, on the other hand, seems confident in his ability to achieve success on his show.
"E! has never had a show like this before. It's a bit different than viewers are used to seeing, but I think they will be both entertained and inspired by my team," he said in a statement.
But if all goes according to plan, Disick hopes to renovate Khloe Kardashian's home if he gets a second season.
E! reports that the show will air on Sundays at 9 p.m. starting on August 4.