242 Broome at Essex Crossing Sells Out
Project Hits One Hundred Percent Closing Milestone with Multiple Deals During COVID-19
Read MoreDouglas Elliman Honors Top Westchester & Connecticut Agents with Ellie Awards
Jennifer Leahy
On March 4th, Douglas Elliman, announced the winners of the 2021 Ellie Awards, which honor the firm’s top performing agents throughout the nation for 2020. Top performers from Westchester and Connecticut were among the honorees this year.
“While this past year was extremely challenging, our talented agents persevered. Through their hard work and dedication, our brokerage was able to surpass its 2019 sales volume despite a global pandemic,” said Howard M. Lorber, Executive Chairman, Douglas Elliman Realty, LLC
Nationwide sales for Douglas Elliman in 2020 totaled $29.6 billion as the company continued its nationwide growth into new markets. The firm was responsible for 24,242 sales and 22,061 rental transactions.
In 2020, Douglas Elliman was involved in two of the top three residential sales in Bedford, in addition to the highest sale in Putnam County in the past five years with 15 Kings Dock Road. The Katonah office grew 35% in sales volume year-over-year while the Armonk office grew an impressive 72% in sales volume year-over-year. In Connecticut, Douglas Elliman’s Greenwich office closed a record $281,958,000 in real estate in 2020. This is a 34% increase in sales volume from 2019.
“I am blown away by the talent we have across Westchester and Connecticut,” said Michael Fitzgibbon, Executive Manager of Sales for Douglas Elliman’s Westchester and Connecticut Divisions. “Our agents went above-and-beyond during unprecedented times and they deserve to be celebrated for all of their hard work. We are proud to congratulate them for countless milestones achieved and thank them for their contributions to Elliman’s continued success.”
In Connecticut, earning first place for Top Teams by GCI was The Jennifer Leahy Team. They were followed by The Magnuson-Tamigian Team (#2) and The Malloy Group (#3).
The Top Individuals by GCI in Connecticut were led by Monica Webster and included William Martin (#2), Jennifer Ho (#3), Mary Ann Clark (#4) and Clare Guest (#5).
In Westchester, earning first place for Top Teams by Gross Commission Income (GCI) was The Strong Oestreich Elwell Team. Other top teams included The DeBellis Team (#2), The Oliveira Team (#3), The Akin Pinkas Team (#4) and The Sarlo Sales Team (#5).
Westchester’s Top Individual by GCI was Margaret Harrington of the Katonah office. Other top individuals included Glorianne Mattesi (#2), Sally Slater (#3), Melissa Frank-Lutz (#4) and Maura McSpedon (#5).
The Top 5 Teams by Transactions in Westchester were led by The DeBellis Team and included The Strong Oestreich Elwell Team (#2), The Oliveira Team (#3) and The Miguel Cabrera Team (#4).
The Top 5 Individuals by Transactions in Westchester were led by Margaret Harrington and included Glorianne Mattesi (#2), Maura McSpedon (#3), Eileen McGrath (#4) and Vincent Vetrano (#5).
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Corcoran Sunshine Marketing Group Honors Award Winners in a Virtual Celebration
Corcoran Sunshine, the industry leader in the planning, design, marketing, and sale of luxury residential new developments, recently held its annual awards celebration. Conducted virtually for the first time, the event was hosted by Corcoran Sunshine’s president, Kelly Kennedy Mack, and honored the team’s noteworthy achievements throughout 2020.
Included among the evening’s awards and award winners were:
Sales Team of the Year: presented to the Waterline Square Sales Team, whose members include Joe Alvarez, Norma-Jean Callahan, Jordana Espinosa, Elizabeth Venter, and Sales Director Melissa Win. These team members generated the highest sales volume across the Corcoran Sunshine portfolio.
Deal of the Year: awarded to Sales Director Richard Hicks, Rae Land, and Lori Valvano – for the $19.5 million sale of the penthouse at 25 Park Row. This transaction was especially interesting because the buyer had already intended to purchase in the building, but upgraded to a penthouse with outdoor space after the onset of the pandemic.
The Innovation Award (Onsite): presented to the Lantern House Sales Team of Aaron Boudreaux, Tiffany Chen, Dan Cordeiro, Nicole Diaz, Shannon Hansen, Thomas House, Stephanie Mastronardi, Sharon Novotny, and Sales Director Donna Puzio. The team was honored for developing a successful one-on-one preview week in October, as well as a customized personal outreach strategy to engage potential buyers.
The awards marked the culmination of a remarkable year. Six of 2020’s top ten best-selling Manhattan new developments are represented by Corcoran Sunshine; namely Lantern House, The Park Loggia, Waterline Square, Fifteen Hudson Yards, 25 Park Row and 130 William. The firm added a seventh to their portfolio when they were tapped to assist in marketing One Manhattan Square. Corcoran Sunshine also represents 11 Hoyt in Downtown Brooklyn, top-selling building across New York City in 2020 - based on contracts signed.
Additionally, during 2020, the team successfully sold out The Greenpoint, Citizen360, 56 Leonard, and 21 East 12th Street. They achieved a record sale in the Financial District with the sale of the above-noted $19.5 million penthouse at 25 Park Row - and The Asbury Ocean Club penthouse sold for $5.5 million, the highest sales price ever in the historic seaside resort of Asbury Park, NJ.
“Despite the obstacles 2020 presented, we not only survived, we thrived. Corcoran Sunshine developed creative initiatives that kept business moving forward, no matter what,” said Mack. “I am incredibly proud of our achievements, and would like to give my heartfelt thanks to our team for their dedication – both to our firm and to New York City. I look forward to even more success as 2021 progresses.”
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Our Favorite Listings For The Week
Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this week.
Have a listing you think should be featured? Submit your open house or contact us to tell us more!
160 1st Street #PHV, Jersey City
At $5.488M, the most expensive penthouse ever listed in Jersey City (The Villa at The Oakman Condominiums) just hit the market. Modern Spaces agents Sharon Weinstein and Silvana Arias Yepez are exclusively handling the record-breaking listing.
Perhaps you are home more often than you used to be, but you cant venture too far from headquarters. The Villa sets the standard for extraordinary urban living. Enjoy spectacular panoramic views and indoor/outdoor living year-round atop The Oakman Jersey Citys most luxurious residence. Accessible via a keyed elevator, the unparalleled residence provides nearly 2,300 square feet of private outdoor space, featuring a private heated infinity pool and fireplace. Experience a modern masterpiece that elevates living to a work of art.
This stunner is located on the parlor level (2nd floor) which is either 1 flight up or access from the private keyed elevator that opens directly into the unit. You're greeted by an expansive and gracious living space highlighted by voluminous 11.10’ ceilings, exposed brick, oversized southern and northern windows, hardwood floors, a wood burning fireplace with period French marble mantle as well as 2 decorative fireplaces. The exquisite open plan chef’s kitchen is centered around a vintage style La Cornue oven with matching ventilation hood. Other features include custom mill work cabinets, top of the line appliances (Fischer Paykel/Miele), marble counter tops and backsplash, tons of storage and a custom Putnam rail ladder and track. The large living spaces offer a wide array of options for entertaining, dining and include an office setup.
The layout provides great separation between the living areas and bedrooms. The pin drop quiet bedrooms are in the rear of the building and face green gardens. No detail was overlooked in the design which includes beautiful wallpaper, custom built closets and ample space for queen or king sized beds. The elegant primary bedroom includes a walk-in closet and ensuite marble bath with stall shower and rare vintage fittings. The 2nd marble bathroom has a deep soaking tub/with glass shower doors, ample vanity storage and period fixtures.
Listed by: Nikki Field and Matthew Perceval, Sotheby's International Realty
Sprawling indoor-outdoor home with 4,268 square feet interior and 1,340 contiguous square feet exterior. On a high floor, this residence overlooks the West Chelsea skyline, The High Line, the verdant new sculpture garden and the terrace enjoys views of the Empire State Building and the Hudson River. The enormous entertaining spaces span over 1,000 square feet, with outdoor spaces to South and North – optimizing Hudson Yards and High Line views, and a separate windowed eat-in kitchen by Boffi with Gaggenau appliances.
The private master suite faces South and features an enormous windowed dressing room. Three additional bedrooms feature en-suite baths and ample closets. The level of interior detailing is remarkable on every level, including features such as 10-foot wide motorized windows, distinctive curved window detailing, sculptural kitchen islands, high ceilings and custom wall-paneling.
More Real Estate
Inside The New York Real Estate Center Holding Panel With Industry's Leaders
New York Real Estate Center, the leading platform for virtual continuing education courses, featured the industry’s top leaders on March 3, 2021 for a lively discussion on the state of NYC’s new development sales, buyer and project financing, and valuation and real estate technology.
Hosted by Nick Malfitano of Titlevest and moderated by radio personality and real estate professional Vince Rocco, the panel of acclaimed experts included Heather McDonough-Domi, founding partner of the H + H Real Estate Team at Compass, Tara King-Brown, Licensed Associate Real Estate Broker at The Corcoran Group, Michael Vargas, Principal and Co-Founder of Vanderbilt Appraisal, Melissa Cohn, the Executive Mortgage Banker at William Raveis Mortgage, Orest Tomaselli, President and CEO of National Condo Advisors, Kael Goodman, founder of Marketproof, and Scott van der Marck, a Senior Managing Director and Relationship Manager at First Republic Bank.
“While the New York City marketplace is still struggling from the effects of COVID, we’ve seen immense improvement from positive vaccine news and rollout that has increased buyer confidence,” said Mr. Rocco.
The panel discussed increasing inventory since 2017, which has resulted in more than 15,000 new development units in New York City, with over 8,000 of them being in Manhattan alone. The panel pointed out that though demand is picking up rapidly, more than 40 billion dollars worth of unsold property in New York City remains.
“This is going to be a long road to recovery. We’re on our way, with the market beginning to meet absorption levels and increasing demand,” said Mr. Vargas. “We will see that the road will be different for price points and developments within Manhattan.”
With New Yorkers having resorted to markets like Miami or the Hamptons this past year, expectations were set high for discounted pricing. However, the discounts that people are generally expecting are not there, yet. The Manhattan market is currently seeing about 7-10% discounts.
“The rest of the country has had a housing boom. New York will not be left out of this, but we are going to see the same phenomenon post-COVID,” said Ms. McDonough-Domi. “It’s going to be a delayed reaction, with the volume and pace continuing throughout the next few years.”
Panelists discussed the current nuances of the Manhattan market. Whereas neighborhoods used to be a main selling point, smaller listing details have taken center stage.
“Transportation has changed how neighborhoods aren’t the driving factor anymore,” said Mr. Malfitano. “Everything is accessible, so it takes more to bring buyers in than just the neighborhood itself now.”
Ms. King-Brown spoke about the difference in value versus price in the current market. She shared that the luxury market is being driven by turn-key, move-in ready listings with buyers prioritizing their value.
“It’s very nuanced in Manhattan right now. Block by block, neighborhood by neighborhood, it is important to look at it in a very nuanced fashion,” said Ms. King-Brown. “My team has seen an incredible demand for big, three-bedrooms with open light because they’re craving the utility out of the apartment they need.”
The panel highlighted that new developments, in particular, struggled this past year with about 40% of the projects remaining unsold. As a result, some lenders have chosen to stay away from new developments until that number rises above 50%.
“Lenders are being incredibly cautious in this market,” said Mr. Tomaselli. “We’re driven by the availability of mortgage finance, which is down right now.”
“With mortgage rates steadily increasing, we will see a big boom to the new condo market in time,” said Ms. Cohn. “We have seen a switch where banks today will now take all bona fide contracts into consideration.”
“Were at a moment in time when valuations are lower than they’ve been in a while. Banks should feel safer about lending in at a higher leverage,” remarked Mr. van der Marck.
The panel also discussed pied-a-terre taxes and the implications it would cause on the city of Manhattan.
“Pied-a-terre tax will be devastating to our city,” shared Mr. Goodman. “Another tax will clearly have a detrimental effect. It will drive necessary and important taxpayers out of the city.”
Agreeing with Mr. Goodman’s comment, Ms. King-Brown added, “The goal is to raise revenue for the city and the state, but it is going to be a net loss for both with this tax. We are driving away the people we need as a tax base.”
New York Real Estate Center is a dynamic platform that serves as a resource for the residential and commercial real estate community. Subscribers have access to a full catalog of courses and information taught by leading real estate professionals, including Michael J. Romer and Pierre E. Debbas, managing partners of Romer Debbas, LLP and principals of New York Real Estate Center. The innovative courses offered through New York Real Estate Center satisfy state real estate agent and broker licensing requirements.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Homes You Need To Make Appointments For This Weekend
Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this weekend.
Have a listing you think should be featured? Submit your open house or contact us to tell us more!
SoHo
WHERE: 33 Greene St. 3E
SIZE: 3 Beds | 4.5 Baths
COST: $6,499,000
About: Redefining the ultra-high end home, This corner loft in the heart of Soho with 3-bedroom, 4.5 bathroom and approximately 3,000Sqft incorporates sophistication and elegance. Sun-drenched through oversized windows looking into the historic cobblestone Greene Street with soaring 11' ceilings, Residence 3E has been meticulously renovated and completely reimagined layout, no expense spared.
A truly romantic south and east-facing living room with windows allowing beautiful natural light and framing the vibrant streets of SoHo. Gather around the open concept kitchen, enjoy custom-built super white cabinetry with hand-picked Italian marble countertops and backsplash, gorgeous waterfall island great for entertaining and is outfitted with top-of-the-line Gaggenau appliances with even a 166 bottle wine fridge!
Enter the primary en-suite with designer finishes, a vestibule outfitted with custom closets, shelves, woodwork, and hardware that features a custom-outfitted dressing room, and a spa-like primary bathroom. The luxurious bathroom also has a large double sink-vanity, separate dressing vanity, glass-enclosed rain shower. All bedrooms are generously proportioned and baths are tastefully designed with marble clad and chevron tile work. Other features include custom recessed lighting, chevron white oak floors throughout, crown & baseboard moldings, separate-zone central air conditioning, and a built-in sound system found throughout this home.
33 Greene Street is an established boutique 9 residence co-op building in a prime SoHo location and offers video-intercom. The cast-iron facade was recently restored to its original 19th century glory. The building features a key-locked elevator and a newly renovated entrance and lobby with a video intercom (integrated into the iDoor system). Located in the historic Soho Cast Iron Historic District, with easy transportation access, the building is moments away from the area's many world-class luxury boutiques, excellent restaurants, and the best amenities that downtown has to offer.
For more information click here
Williamsburg
WHERE: 100 Maspeth Avenue, 2J
SIZE: 1 Beds | 1 Baths
COST: $710,000
About: This gorgeous and luxurious one bedroom home with enormous 300 square foot private terrace and back yard, including a barbecue (!) is in a top luxury building at 100 Maspeth Ave #2J, The Olive Park in Williamsburg. The Olive Park provides its residents the ultimate spa experience with an indoor heated all natural salt-water pool, jacuzzi, sauna, top of the line gym and more. 100 Maspeth Ave #2J is the largest and most spacious one bedroom lay-out in the building and the private back yard is a unique and very special addition making entertaining at home just as easy in 2021.
The large private patio and back yard provide ample space for lounging, barbecuing and dining al fresco. Additionally this gorgeous home comes with an open chef’s kitchen and efficient Lutron Serena Shades, a high tech motorized and very silent system that can be activated and controlled from your smart phone, where you can also use the smart dimmer switches for all the lights. There is also a private storage area that comes with the condo.
For more information click here.
Brooklyn Heights
credit: Travis Mark
WHERE: 50 Hicks Street, TH
SIZE: 5 Bedroom | 4 Bath, 3 Half-Bath
COST: $8,875,000
About: 50 Hicks is a private home with five bedrooms, two home offices, two outdoor spaces and an elevator. The red brick home is 21-feet wide behind original storefront windows with custom shutters and features a large paved rear patio with fencing and planter boxes. Offering state-of-the-art security and safety, the home’s owner's suite can act as an impenetrable safe room with blast/ballistic-resistant walls and doors!
Rybak Development underwent a thorough renovation after they purchased the site. The firm, with a strong footprint in Brooklyn and NYC, erected a new concrete-reinforced superstructure within a historic façade. The result is taller ceilings (now recessed with designer light fixtures), outstanding stability and unmatched sound attenuation. The elevator is an oversized commercial-grade model with a double sliding-door (versus cumbersome hinged inner and outer doors), a rarity in private residences.
See Inside Jimmy Fallon NYC home for $15M
The late night host Jimmy Fallon and wife Nancy Juvonen have listed their New York City home with Jeremy Stein and Debbie Korb of Sotheby’s International Realty – Downtown Manhattan Brokerage. Ever wanted to see what Jimmy Fallon’s home looked like? Look no further because we have the photos below, or it can be yours for a cool 15 million. Located at 34 Gramercy Park East, welcome home.
Real Estate Moves: Lydia Sussek Joins Douglas Elliman
Lydia Sussek
Douglas Elliman, has announced that top producing New York City agent Lydia Sussek has joined the firm. A respected leader in the field with over 35 years of luxury market experience, Sussek oversees more than $500 million in inventory, helping sellers, buyers, investors, renters and developers negotiate winning results on units of all sizes. Sussek and Nasr will be working out of the brokerage’s flagship office located at 575 Madison Avenue in Manhattan, while Stahlke is based in Madrid, Spain.
“Lydia is highly regarded throughout the industry for her in-depth global market knowledge, strong client relations and clever negotiating skills honed from her background in business,” said Howard M. Lorber, Executive Chairman, Douglas Elliman Realty, LLC. “We look forward to her continued success at Douglas Elliman.”
“I am thrilled to join the powerhouse firm Douglas Elliman,” said Sussek. “Douglas Elliman’s exclusive partnership with Knight Frank will allow me to better service my robust international clientele and build an even bigger global property network. This component paired with the firm’s first-class resources in technology, marketing and public relations assures me this is the best next step for my team, and more importantly, ensures fabulous results for my clients.”
Sussek has worked in new development representing properties up to $60 million. Notable transactions include 225 Fifth Avenue, Penthouse S for $7.9 million, 31 West 21st Street, 9th Floor for $7.8 million and 920 Fifth Avenue, 9B for $7.3 million, as well, Sussek is known for securing high end residential rental deals in the $20,000 to $70,000 per month category. Sussek also services top international luxury brands, and has worked with various celebrity clients, including musician Axl Rose, English activist Heather Mills, and Italian soccer player Andrea Pirlo.
“We are proud to have Lydia and her team join Douglas Elliman,” said Steven James, President and CEO of Douglas Elliman New York City. “Lydia has long been a force in real estate, in New York and beyond. Her experience in branding, design and architecture in addition to her successful track record in high-end sales and rentals makes her a natural fit for our brokerage.”
Prior to real estate, Sussek ran her own luxury branding and design firms in Como, Italy, Los Angeles, CA and New York working with diplomats, celebrities, chefs and international executives in fashion, entertainment and a wide array of industries. She and her husband John Sussek are involved in residential and commercial properties in Manhattan and Nantucket Island, Massachusetts.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
International Buyers Coming Back
Joanne Greene
After the swift travel restrictions last year following the onset of COVID, real estate professionals saw the decline of international buyers like no other. But, just as some predicted, these international buyers have been making their way back into the market and returning home to their beloved New York City. How they hunt for their luxury properties has changed, though, with technology and trust being the main pillars they are relying on.
Brown Harris Stevens’ top producing team Joanne Greene and Nada Rizk have recently facilitated two transactions, one for just under $2 million and the second for just over $4 million, with buyers from afar. In both circumstances, the duo relied heavily on Facetime tours to lock in interest and serve their clients with the same hallmark level of expertise and attention that they would receive in person.
Drawing on more than 20 years of experience, Joanne and Nada offer the following tips for those buying sight unseen.
Nada Rizk
Form your opinions: There are a number of perspectives floating around on the current state of affairs in New York City. Check multiple trusted sources and evaluate the information to form your own opinion as to whether it’s the right move. Use the time away from Manhattan to rethink your housing needs and closely evaluate the priorities. You should also plan for the future and post-COVID, will you be wanting a building with a spectacular line-up of shared amenities, or a more reserved and private space? Forward thinking, it’s a great time to plan your return to the office or look for a property with a home office space included.
Lean on the experts: Knowing where to begin can be quite overwhelming. Engage with an experienced, local agent who can sort through available listings efficiently and share on the ground information on the properties, buildings, and neighborhoods. Look for an agent with specific experience working with international buyers, especially during the past year.
Beyond the property: You’re not just buying an apartment, you’re buying a building, a neighborhood, and a community. Don’t disconnect after the Facetime property tour, ask your agent to show you the laundry room, common areas, and even where the trash is taken out; and then ask them to walk you around the immediate area. What you see – and more so what you don’t – might impact your decision and future enjoyment of the space. Some neighborhoods even have local news publications, which provide great insight into the community and neighbors alike.
After the closing: Your due diligence should include a full assessment of building policies, from move-in to deliveries and renovations. Be sure to properly evaluate any work that you might want to have done and ensure that it can be completed within the period that the building allows, taking post-COVID considerations into account.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Take A Look At The Lantern House Penthouses
One of the most exciting new developments in West Chelsea had recently unveiled the newest penthouses just ready to be your new home. The Lantern House, Thomas Heatherwick's first residential project in North America nearing completion along the High Line in West Chelsea, had the most expensive penthouse at the project (with an asking of $18,975,000 million), a collection of penthouses at the striking building have now been listed. Priced from $7,975,000 up to $18,975,000, each of the penthouses features a large private outdoor terrace, providing extraordinary views across New York City. Closings at Lantern House commence this spring with occupancy anticipated later this year.
Below are mages of the $18,975,000 million penthouses that just went into contract, courtesy of Related Companies.
Penthouse kitchens are designed by March and White Design and include custom bronze finished trim and hardware, Gaggenau appliances and an impressive array of additional features including a seventy-bottle full-height wine cooler, double wall ovens, a custom suspended light fixture of bronze-finished metal and specialty glass, convex fluted oak cabinetry, and Calacatta Venato marble slab countertops and backsplash. The west building penthouses also come equipped with a second dishwasher, double wall ovens, dual warming drawers, and a built-in coffee maker.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Four Compromises Homebuyers Should Never Make, Even in a Seller's Market
Ryan Dibble
Buying a home, whether it’s your first or your fifth, is all about compromise. You start with a wishlist that includes every amenity you’ve ever wanted. Then you whittle down that list until you have your “must-haves.” Even then—because no home is perfect—you edit that list down further.
Compromise is the name of the game when it comes to buying a home, but there are certain areas where you should never budge. Here are the four things you should hold sacred while buying your home.
Your (and your partner's) goals
When buying a home, sometimes you’re buying an asset, and sometimes you’re buying a lifestyle. Either way, knowing your goals will help you decide what to invest in and what to avoid.
If you're buying with a partner, it's crucial to make sure your goals are aligned before starting the homebuying journey. It's a much harder conversation to have at an open house or in front of your mortgage lender.
Sticking to your goals is all about being intentional. Before you start house hunting, write your goals down, ground yourself, and come back to them regularly. The most successful homebuyers are intentional about what they want.
Budget
It may be tempting to buy above your budget if you find a home you love, but doing so can lead to long-term problems. Getting in over your head can quickly turn a dream house into a nightmare.
Want to make sure your budget is realistic? Get pre-underwritten, not just pre-approved, by your mortgage lender. With pre-underwriting, the lender carefully reviews your ability to pay back the loan before a property is involved. Put simply, pre-underwriting is the only reliable answer to a big question: “how much can I spend on a home?” It’s a written commitment from a mortgage lender confirming the loan amount and program you’re qualified for.
Location, location, location
You can change almost anything about a home, but you can’t change a neighborhood. No amenity matters if you're miles from where you want to live – even if it is the perfect house otherwise.
Yes, it's true that you may not be able to afford the hottest neighborhoods, but that doesn't mean you can't find a more affordable area you love. Identify your favorites, then widen the circle. Before locking in on any location, go one step further and explore each neighborhood you're considering in person to make sure it has what's most important to you, whether it be good schools, walkability, or social life.
Fixer-upper vs. Turnkey.
Consider your appetite for big renovations, and the costs associated, when buying a home. If you've never swung a hammer or don't have the patience to live in a less-than-desirable home for a lengthy period, you could end up regretting taking on a fixer-upper because of a lower price tag.
About the author:
Ryan Dibble is Chief Operating Officer of real estate startup, Flyhomes and an early employee of the company. Over the past five years, Ryan has built several core functions at Flyhomes, including both the Mortgage and Title & Escrow divisions, and ushered thousands of customers through the homebuying process.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Our Favorite Listings For The Week
Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this week.
Have a listing you think should be featured? Submit your open house or contact us to tell us more!
35 East 63rd Street
Stephanie Kanner of Fox Residential has just listed the prized duplex Penthouse at 35 East 63rd Street. Asking $45,000 per month, the 6,312 square foot home epitomizes indoor+outdoor living, offering 4,000 square feet of private outdoor space – complete with outdoor kitchen, grill, hot tub and TV.
Enter under a beautiful skylight as you behold 6,312 square feet of this gorgeous, renovated light filled home. Total light, air and outdoor access welcome you in every room. You will find stunning wide plank hardwood floors, extra tall ceilings, four (4) wood-burning fireplaces and private terraces from all sides. A wall of glass doors sits at the end of the 39 foot wide living room with wood-burning fireplace, leading to a long south facing terrace, an environment made for indoor/outdoor entertaining at its best. The eat-in kitchen is stainless steel perfection, with flawless cabinetry, two sinks and professional grade appliances, including a six burner gas range, vented hood and three dishwashers. Off of the kitchen is a formal dining room, also with a wood-burning fireplace. The library is tucked away behind the study which opens to yet another perfect outdoor space. A full bathroom, powder room and plentiful closets make this top floor the total package.
The bedroom quarters are on the lower level for privacy and quiet time. The primary suite is massive and has two oversized marble bathrooms and two enormous walk in closets. There are three more bedrooms, all with en-suite bathrooms and walk-in closets, 2 of which have private terraces. A large family room with a wood-burning fireplace and powder room is the perfect gathering place for family fun. A convenient laundry room with utility sink and two sets of large washer-dryers complete this perfect, luxurious, livable home.
Courtesy Douglas Elliman
Dating back to 1705, this historic, colonial home on Long Island was built and lived in by the ancestors of famed poet Walt Whitman.
Located in Huntington, his great-grandfather Nehemiah Whitman lived in the house and his grandfather, Jesse Whitman, was born there. Known as “The Whitman-Rome” house, just four families have owned this special home over the course of its storied 300-plus year history. It was last sold to its current owners in 1995.
It is certain that the poet himself visited the site of this early Whitman homestead and trod these rustic paths through West Hills. On the grounds of the property, towards the back and up a hill, is a private cemetery, where Walt Whitman is said to have visited in July of 1881 and composed a lament on the graves of his ancestors.
Inside the historic house, little has changed on the main floor. The wide old pine-floorboards are original and the mantles on the four fireplaces range from plain (in the summer kitchen) to elaborate (in the living room). Each door on the main floor is different in design.
Monica McMahon is the listing agent.
Yoo Jean Han for Sotheby’s International Realty
4 bedroom/3.5 bath home by renowned designer, Michelle Gerson. Every detail of this glamourous triple mint home was thoughtfully designed to perfection.
The gracious entry has a custom marble floor that opens to a huge sun-filled Kitchen, Dining Room and Living Room expanse with an attached Sunroom. The centerpiece of the Living Room is a wall with antiqued mirror and dark stained cerused oak surrounding the TV.
The top-of-the-line custom chef’s windowed kitchen boasts Neolith stone island counters and backsplash, white gloss shop painted wall cabinets, walnut veneers, Miele dishwasher and pullout range hood, Wolf oven and range cooktop, Franke sink, Dornbracht custom black faucet with matching instant hot/cold dispenser and an LG stacked Washer and Gas Dryer. Completing the entertaining space is a magnificent Sunroom with banquette seating and a custom lacquered green bar with brass inlays and black marble top.
More Real Estate
212 W. 93rd Street Launches Sales
Sales are launching today at 212 W. 93rd Street, a highly anticipated new condo that embodies precisely what people want coming out of the pandemic: a bigger home in a smaller, low-contact building with tons of private outdoor space.
Developed by national publicly traded homebuilder Landsea Homes (their first NYC development) in partnership with Leyton Properties, 212 W. 93rd Street was envisioned as a vertical collection of individual residences with timeless interiors by GRADE New York. The building was designed from the outside in to maximize outdoor space, natural light and interior volume, creating a unique layout for each home that is flexible to support daily needs and daily life. Oversized beveled windows seamlessly combine indoor and outdoor spaces to create a true indoor/outdoor living experience.
“We are thrilled to unveil 212 West 93rd Street,” said Jed Lowry, Division Vice President at Landsea Homes. “New Yorkers today want a home that is optimized for their daily needs, they want a flexible layout that integrates with the outdoors and a more intimate, private setting. 212 West 93rd Street embodies this new luxury paradigm.”
The building also includes an outside amenities package, including a rooftop terrace, a children’s playroom, and a futuristic fitness studio with the latest high-tech equipment like The Mirror, which everyone is talking about these days.
“If I were to describe 212 West 93rd Street in one word it would be: seamless. It was incredibly exciting for me to work on a project that called for so much equilibrium – between new and old, indoors and outdoors, luxury and functionality,” said Eran Chen, founding principal and CEO of ODA. “With the launch of sales, I am excited for New Yorkers to discover this unique property that lends a new perspective on living on the Upper West Side.”
The Lindsey Stokes Team at Compass Development Marketing Group is the exclusive sales and marketing agent for the project. Construction is well underway with completion anticipated in 2021. Pricing begins at $1.875M.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Douglas Elliman Parent Company Vector Group Launches PropTech Investment Venture
Vector Group Ltd. announced the launch of New Valley Ventures, an investment vehicle seeking opportunities in next-generation technologies in the property technology (PropTech) space. New Valley Ventures will invest in promising PropTech startups committed to supporting rapid transformation of the real estate industry for the benefit of the agent experience.
In connection with the launch, Vector Group also announced New Valley Ventures has acquired an ownership stake in Rechat, a lead-to-close fully-mobile technology dashboard for real estate agents. New Valley Ventures’ affiliate, Douglas Elliman “We are incredibly excited to introduce New Valley Ventures to the PropTech industry,” said Richard J. Lampen, Executive Vice President and Chief Operating Officer of Vector Group.
New Valley Ventures will consider companies of all sizes, supporting their development with in-depth real estate expertise and helping them enter prime domestic real estate markets. New Valley Ventures has also invested in Camber Creek, a venture capital firm whose portfolio includes startups such as Notarize, Curbio, Flex and Darwin Homes, and MetaProp, a venture capital firm with investments in startups such as Milo Credit and Skipp.
“I am thrilled about this initiative and confident it will further enhance agent productivity,” said Scott Durkin, President and COO of Douglas Elliman. “In partnership with New Valley Ventures, our agents will now be at the forefront of emerging technologies that will make them better, faster, more productive and ultimately, more successful.”
New Valley Ventures is being spearheaded by Dan Sachar, who serves as its Managing Director as well as Vice President of Enterprise Innovation for Vector Group. Sachar works in partnership with both Vector Group’s Chief Technology Officer David Ballard and with Douglas Elliman’s Chief Information Officer Connie Mui-Reilly.
“We are witnessing a generational shift in how real estate professionals work, and with that comes a new set of expectations for innovation and experiences that provide ease, mobility and nimbleness. Our objective is to free agents to do what they do best, which is to sell real estate,” said Sachar. Ballard added, “It is not just about us being innovators, it is about being able to identify emerging technologies early and benefit from them. In turn, we provide start-ups with invaluable intelligence from Douglas Elliman’s 7,000 agents across the United States."
“When we identify a service from an early stage business that we believe agents can benefit from, we are willing to invest in them, aligning our interests with those of our agents, while helping these companies to innovate at start-up speed,” said Ballard.
“We are grateful for our new partnership with New Valley Ventures and Douglas Elliman and their confidence in our transformational product,” said Shayan Hamidi, Founder and CEO of Rechat. “I look forward to welcoming them to the Rechat family.”
Rechat will revolutionize the way real estate agents and managers work and includes a robust customer relationship management (CRM) system that helps real estate professionals organize their client rosters, manage communications and prioritize responses, syncing with Google Mail and Outlook. It also allows for marketing automation for social media, email blasts and digital and printed collateral materials.
Other important features include a modern open house experience, helping agents save time and effort on scheduling, designing marketing templates, managing listings and capturing leads. Its online and offline registration pages allow attendees to simply flow into a database, maximizing outreach and offering automated responses.
Also important is the real-time MLS search and alerts feature allowing users of Rechat to provide fast, accurate and consistent data to share with clients more efficiently. Additionally, Rechat’s fully-mobile platform allows for easier listing and transaction management operations, streamlining the process of completing forms, managing documents, updating pricing and chasing down signatures.
Rechat will be strategically rolled out to all Douglas Elliman agents during the first half of 2021.
Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.
Homes You Need To Make Appointments For This Weekend
Looking for a new place to live or just curious about what's on the market? Check out our favorite homes you should make an appointment for this weekend.
Have a listing you think should be featured? Submit your open house or contact us to tell us more!
Greenwich Village
WHERE: 67 East 11th Street Apt. 323
SIZE: 1 Beds | 1 Baths
COST: $1,199,000
About: Located on the coveted 3rd floor of the famous Cast Iron Building, unit 323 boasts over 15" foot ceilings on the main floor with 7.5” foot ceilings on the second floor … making this a true 2 floor apartment. No detail was left untouched in this meticulously renovated, formerly 2 bedroom turned duplex lovers dream! Exposed brick, massive windows with morning eastern light, an original detailed Corinthian column and a floating staircase greet you as you enter this beautiful gem. An impeccably designed mint condition kitchen featuring Unique Calcatta countertops, a Thermador Professional sized gas range oven, built-in Wolf microwave, Liebherr refrigerator, Fisher Paykel dishwasher and built in wine fridge maximize the spaces’ perfection. Closets and storage are abundant, as thoughtful built-ins were added throughout the unit in addition to an entry closet on the first floor and a huge walk-in closet on the second floor.
For more information click here
Hamptons Bay
WHERE: 27 Realnautic Court
SIZE: 5 Beds | 5 Baths
COST: $2,850,000
About: Tranquility awaits at this peaceful 2.34-acre estate. Featuring two large parcels at the end of its own exclusive cul-du-sac, the sizable property comprises a spacious 6,000-square-foot contemporary home, complete with sprawling lawns, oversized 25-foot-by-65-foot Gunite pool, spa, outdoor kitchen, Zen water garden and access to nature trails and parkland. Impeccably built, the open and inviting two-story manse features five bedrooms and four-and-a half baths, including an expansive owners suite with marble bath, sitting room, dressing area, study and fireplace; a 2,000-square-foot great room with soaring ceilings, walls of windows, fireplace and a sunken living room; a 550-square-foot family room with nearly 20-foot ceilings and stone fireplace; chefs kitchen; dining room; Finnish sauna; and three-zone heating, cooling and sound. This is an unusual opportunity to own a significant Southampton estate situated in a true country (rather than suburban) setting. Adjacent to and nearby Southampton Town preserved and County parkland, the properties are formally within a Southampton Town country residential zone. *The residential plot is 1.28 acres and the accompanying parcel at 23 Realnautic Court, which is fully separate and buildable, is 1.06 acres.
For more information click here.
Brooklyn Heights
credit: Travis Mark
WHERE: 50 Hicks Street, TH
SIZE: 5 Bedroom | 4 Bath, 3 Half-Bath
COST: $8,875,000
About: 50 Hicks is a private home with five bedrooms, two home offices, two outdoor spaces and an elevator. The red brick home is 21-feet wide behind original storefront windows with custom shutters and features a large paved rear patio with fencing and planter boxes. Offering state-of-the-art security and safety, the home’s owner's suite can act as an impenetrable safe room with blast/ballistic-resistant walls and doors!
Rybak Development underwent a thorough renovation after they purchased the site. The firm, with a strong footprint in Brooklyn and NYC, erected a new concrete-reinforced superstructure within a historic façade. The result is taller ceilings (now recessed with designer light fixtures), outstanding stability and unmatched sound attenuation. The elevator is an oversized commercial-grade model with a double sliding-door (versus cumbersome hinged inner and outer doors), a rarity in private residences.
At 23 Bedford Road, nearly 11,000 square feet of living space comes with a basement roller hockey rink, golf simulator, 800-square-foot theater and enough amenities to make leaving home optional.