When New York City enters Phase 2 of the reopening plan (which could be as early as June 22, fingers crossed), face-to-face real estate showings can begin again, albeit with new health, safety, and cleanliness guidelines in place. However, this comes at a time when many prospective buyers saw their priorities shift over the past few months. While some are highly eager to buy at a time when interest rates are at an all-time low, others are questioning whether they still want to live in a New York City apartment after all. Add the economic fallout from the pandemic and the efforts to contain it to the mix, and the past few weeks have seen lower numbers than usual.
In such an environment, it's clear that brokers and developers have used their time at home to come up with creative ways of attracting brokers' attention and putting their buildings on the top of buyers' must-see lists. We take a look at buildings with the most ingenious ideas and the listings inside.
In such an environment, it's clear that brokers and developers have used their time at home to come up with creative ways of attracting brokers' attention and putting their buildings on the top of buyers' must-see lists. We take a look at buildings with the most ingenious ideas and the listings inside.
In this article:
Architect: Adamson Associates | Developer: Extell
811 Units | 72 Floors
One-beds from $1.2M | Two-beds from $1.9M | Three-beds from $3.6M
Discounts of up to 20% on remaining sales inventory
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Between its downtown location and seemingly endless suite of amenities, One Manhattan Square was designed to stay ahead of the curve from the start. When New York shut down, the new supertall was quick to offer virtual tours of its apartments and amenities. Most recently, the building has introduced discounts of up to 20 percent on all remaining sales inventory. Developer Gary Barnett says, "Combined with low-interest rates and a 20-year tax abatement, we feel this will make for a very compelling offering."
Architect: Manuel Glas | Developer: Third Palm Capital LLC and Real Estate Inverlad Development LLC
30 Units | 19 Floors
Two-beds from $2.8M
Sponsor paying two years of common charges
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Well situated where Midtown East meets the Upper East Side, The Clare boasts an innovative limestone and glass facade. Interiors feature floor-to-ceiling windows, LED lighting, high-end kitchens, spa-like baths, and ample closet space. A full floor of amenities includes a fitness center and yoga room, a lounge with a dining room, living room, entertainment center, and pantry, and an 800-square-foot terrace overlooking magnificent views of Central Park, the 59th Street Bridge, and the New York City skyline. A 421-a tax abatement is in effect; and, in a final inventory incentive, the sponsor will pay two years of common charges at closing in a credit.
Interiors via Halstead
Architect: Morris Adjmi Architects | Developer: Oestreicher Properties
48 Units | 14 Floors
Two-beds from $1.2M | Three-beds from $2.1M
Sponsor paying common charges until June 2021
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Acclaimed architect Morris Adjmi's latest Brooklyn design is beautifully situated on the cusp of Downtown Brooklyn, Boerum Hill, Fort Greene, and Cobble Hill. Its clean lines, industrially-inspired windows, and textured Danish brick facade pay tribute to the neighborhood's past while nudging it into the modern day. All apartments feature oak plank flooring, minimalist kitchens, marble baths, and stacked in-unit washer/dryers. Select units have private outdoor space, and all residents have access to an attended lobby, a fitness center, a game room, a lounge, a media room, a children's playroom, and a rooftop garden with outdoor kitchen and sweeping views of the Manhattan skyline and New York Harbor. Closings are anticipated to begin in fall 2020, and the sponsor will pay common charges until June 2021.
Interiors via Arc Media
Architect: BKSK Architects | Developer: HFZ Capital Group
27 Units | 10 Floors
Three-bed for $7.8M | Four-bed for $10M
Sponsor will pay 50% of real estate taxes for five years
11 Beach via Douglas Elliman
In a prime example of Tribeca's industrial-to-residential renaissance, 11 Beach is a prewar loft building transformed into luxury condos and spectacular townhouses. The townhouses have private pools, and all units feature gracious proportions, generous closet space, meticulously designed kitchens, and spa-like baths. Amenities include a skylit fitness center, children's playroom, and roof deck overlooking iconic skyline views. Virtual tours are available, and the sponsor will pay 50% of real estate taxes for the next five years.
Architect: Zaha Hadid | Developer: Related Companies
39 Units | 13 Floors
Two-beds from $4.2M | Four-beds from $9M | Five-beds from $25M | Six-beds from $39M
Price cuts on remaining sponsor units
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The High Line is currently closed to contain the coronavirus, but to walk down the elevated train tracks-turned-urban park in happier, healthier times is to take a tour of some of the city's most ambitious architecture. One prominent entrant was 520 West 28th Street, designed inside and out by Dame Zaha Hadid. The building is currently offering price cuts of up to 33.5 percent on its remaining sponsor units.
Architect: Soo K. Chan | Developer: Forum Absolute Capital Partners
15 Units | 11 Floors
Two-beds from $4M | Three-beds from $4M
Two years free common charges
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Up the street from 520 West 28th Street (see above), a former loft building has been transformed into a luxury condominium allowing buyers the opportunity to look out on the High Line from not one but two sides. All units have floor-to-ceiling windows; but lest this feel like a fishbowl, all homes are preinstalled with smart technology systems allowing for control of the blinds, among other things. It would seem the developer thought of everything in good times and bad: For a limited time, the building is offering two years of free common charges.
Architect: ODA | Developer: Hope Street Capital
165 Units | 10 Floors
Studios from $735K | One-beds from $840K | Two-beds from $1.5M | Three-beds from $2.1M
5% down at contract signing
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Thanks to a creative design by ODA New York, no two units at 98 Front Street have the exact same floor plan. Each unit comes outfitted with high-end finishes and appliances, and all residents have access to a wide range of indoor and outdoor amenities. The building's design and amenity offerings were at the time unheard of for its neighborhood, and it is currently the only one in Brooklyn offering such an incentive for new contract signings.
Architect: Bjarke Ingels Group | Developer: HFZ Capital Group
236 Units | 36 Floors
One-beds from $2.8M | Two-beds from $3.4M | Three-beds from $6.6M | Four-beds from $9M
Reduced pricing from possible wholesale deals
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According to The Real Deal, interest in bulk condo offerings is on the rise as the economy continues to drop. The XI, which is currently expected to open before February 2021, has reported strong interest from overseas buyers seeking to buy multiple units; to that end, the sales team put together a bulk offering to show these prospective clients.
Architect: John Fotiadis | Developer: Meadow Partners
41 Units | 17 Floors
Studios from $510K | One-beds from $600K | Two-beds from $1M
10% down payments
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One subway stop away from Midtown Manhattan, The Independent evolved from a rental to a luxury cooperative with such amenities as a courtyard, lounge, fitness center, bike room, storage, and roof deck. All apartments feature open-plan living areas, sleek kitchens, serene baths, in-unit washer/dryers, and generous closet space. A 421a tax abatement is in place, and only a 10% down payment is required at this time.
Architect: Schwartz & Gross and Piet Boon | Developer: Claremont Group
52 Units | 26 Floors
Two-bed for $1.9M
Common charge credit
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The Art Deco-style 101 Wall Street was designed as an office building in 1931 and converted to a luxury condominium in 2017. The building retains its historic design and architectural details, but now offers the finishes, conveniences, and amenities today's buyer has come to expect. Indeed, it continues to evolve to meet the needs of the immediate buyer: Virtual tours are available, and the sponsor is offering a five-year common charges credit equal to 50 cents per square foot per month during the five years.
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Architect: Liebman & Liebman and BP Architects | Developer: HFZ Capital Group
252 Units | 25 Floors
One-beds from $1.2M | Two-beds from $1.5M | Three-beds from $1.8M
Reduced pricing for buyers
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In the years since this post-war building went up in the 1980's, the surrounding area has welcomed Columbus Circle, Billionaires' Row, and new restaurants to Hell's Kitchen. The condominium has been redeveloped with exciting new amenities and apartments with open-concept interiors, high-end kitchens, and in-unit washer/dryers. Prices on all units have been reduced, and the building is also offering increased brokers' commission until June 30 (see below).
Architect: DXA Studio | Developer: RockFarmer Properties
42 Units | 7 Floors
One-beds from $850K | Two-beds from $1.3M
5% down payments
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Over a month before traditional real estate showings were suspended, The Rowan launched sales in an amenity-rich luxury condominium that set new standards for Astoria. In response to this drastically different environment, the developers enacted a new set of incentives for both buyers and brokers: Buyers are only required to put down five percent at signing, with an additional five percent due on October 1, 2020. Additionally, once the sales office is legally allowed to reopen, buyers will have five days to confirm their purchase without consequence. Moreover, The Rowan will donate $1,000 from each contract signed from May 1 through July 31 to REBNY's "Member in Need" fund.
Creative Marketing
Architect: Clinton & Russell | Developer: LCOR
305 Units | 21 Floors
One-beds from $860K | Two-beds from $1.3M | Three-beds from $5.3M
Virtual tours for charity
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One hundred years ago, the Broad Exchange Building served as the headquarters of Paine Webber and was the largest office building by floor area in New York City. The landmarked building retains its historic details, but has been updated with modern layouts and amenities to cater to the contemporary buyer. And at the onset of the COVID-19 pandemic, it has again shifted gears to meet the needs of the time: Virtual tours are available to buyers. Moreover, for all virtual tours taken from home, the building will make a donation to the First Responders Children's COVID-19 Emergency Response Fund, which provides assistance to first responders and their families.
Architect: Deborah Berke Partners | Developer: Lightstone
29 Units | 18 Floors
Two-beds from $3.1M | Three-beds from $4.9M | Four-beds from $6.9M | Five-beds from $10M
Favorite recipes from the building's designers
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Designer Deborah Berke is a resident of Yorkville and brought her neighborhood expertise to the design of 40 East End Avenue. All apartments boast high ceilings, oversized casement windows, and sophisticated kitchens with high-gloss Italian lacquer cabinetry, abundant storage space, and Gaggenau appliance suites. At a time when most of us are seeing more of our own kitchens than we ever imagined, Corcoran Sunshine, the firm handling the building's sales and marketing, is posting recipes from its "Cooking by Design" compilation from architects and designers to its Instagram page. One popular pick was a recipe for walnut pesto crostini submitted by an executive at Deborah Berke Partners.
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Architect: Rafael Vinoly | Developer: The Victor Group and Lendlease
129 Units | 55 Floors
One-beds from $1.7M | Two-beds from $3.3M | Three-beds from $4.5M | Four-beds from $24M
Custom jigsaw puzzle depicting 277 Fifth Avenue
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Just over a week before New York closed all non-essential businesses to flatten the curve, 277 Fifth Avenue hosted a housewarming party to show the interiors designed by Jeffrey Beers International. Virtual tours are currently the only way to see the interiors, but the building has offered a new way of appreciating this new addition to the Midtown skyline: a custom 500-piece jigsaw puzzle depicting the new tower, as well as the Empire State Building, Rockefeller Plaza, Penn Plaza, and the supertalls of Billionaires' Row. Not only does this give brokers something to do while stuck at home, but it keeps the building top-of-mind.
Architect: Robert A.M. Stern Architects | Developer: Corigin Real Estate Group
41 Units | 17 Floors
Two-beds from $4.4M | Three-beds from $6.8M | Four-beds from $12.3M | Five-beds from $11M
Cocktail recipe from the building's architect
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Robert A.M. Stern Architects is celebrated throughout New York for its modern interpretations of pre-war buildings. One archetype can be found in an exclusive Yorkville enclave at 20 East End Avenue. The building's design nods to the area's architectural history, yet comes with the amenities the modern buyer has come to expect, including a port cochere, game room, fitness center, and spa. To that end, Mr. Stern's choice for the Corcoran Sunshine "Cooking by Design" collection (see above) is another contemporary look at a classic: his take on a vodka martini.
Interiors via Compass
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Broker Incentives
520 West 28th Street, Chelsea
Availabilities from $4.2M to $38.9M
4% commission on first deal, 4.5% commission on second, and 5% commission on third deal and beyond
15 Hudson Yards
Availabilities from $3M to $32M
4% commission on first deal, 4.5% commission on second, and 5% commission on third deal and beyond
520 West 28th Street via Related
15 Hudson Yards via Related
35 Hudson Yards
Availabilities from $5.2M to $59M
4% commission on first deal, 4.5% commission on second, and 5% commission on third deal and beyond
Lantern House, Chelsea4% commission on first deal, 4.5% commission on second, and 5% commission on third deal and beyond
4% commission on first deal, 4.5% commission on second, and 5% commission on third deal and beyond
35 Hudson Yards via Related
Lantern House via Related
389 E. 89, Yorkville
Availabilities from $1.2M to $2.8M
4% commission and $10,000 American Express gift card
The Astor, Upper West Side
Availabilities from $1.8M to $7.3M
4% commission on new signed contracts
389 E. 89 via The Corcoran Group
The Astor via Williams New York
The Chatsworth, Upper West Side
Availabilities from $2M to $9.8M
4% commission on new signed contracts
The Chatsworth via Douglas Elliman
75 Kenmare Street via Douglas Elliman
Brooklyn Point, Downtown Brooklyn
Availabilities from $907K to $3.5M
5% sales commission on all new deals signed after June 1, 2020
Brooklyn Point via Extell
The Broad Exchange Building via The Marketing Directors
Coda Condominium, Midtown East
Availabilities from $1.3M to $1.9M
4% commission and Saks Fifth Avenue gift card
Four Seasons Private Residences via The Corcoran Group
Coda via Compass
One Manhattan Square, Lower East Side
Availabilities from $1.2M to $7.9M
5% sales commission on contracts signed after May 1, 2020
The Bryant via HFZ Capital Group
One Manhattan Square via Extell
Fifty Third and Eighth, Midtown West
Availabilities from $1.2M to $3.1M
Increased broker commission until June 30
The Rowan, Astoria
Availabilities from $540K to $2M
50% commission up front
Fifty Third and Eighth via HFZ Capital Group
The Rowan via Redundant Pixel
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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