The Thrill of Victory + The Power of Platinum

It always feels good to win an award, and I don’t mean the honor of being nominated - it’s bringing home the gold that gives you that warm and fuzzy feeling. Just this month my company received 3 outstanding marketing awards from the Pillars Awards. As their website explains “NAHB's Pillars of the Industry Awards brings you the best in multifamily design…and it honors the best marketing campaigns and the industries top developers…” http://www.nahb.org/page.aspx/category/sectionID=1024.

So there you have it, with the presentation of the awards for Best Brochure for a For Sale Multifamily Community, Best Overall Sales Campaign for a Condominium Community, and Best Property Website to Platinum (http://www.platinumnyc.com/) we are validated in our hypothesis that marketing campaigns featuring spraypainted silver people are the panacea for all of our real estate woes.

Mocked by many including, but not limited to, curbed.com (thanks for featuring us in an article entitled "People Sounding Stupid in the Real Deal, Part II" http://curbed.com/archives/2007/12/05/people_sounding_stupid_in_the_real_deal_part_ii.php and yes we did put swimsuits on the models so as not to offend your delicate sensativities) and Lost City (“Revolting billboards featuring the neo-nazi, Atlas-like figure pushing a big silver ball” ouch! http://lostnewyorkcity.blogspot.com/2007/03/power-of-platinum-wood.html) sometimes even we began to wonder if we had made the right decision. But it turns out we did! Thank you Pillars and thank you buyers who have made Platinum 80% sold.

The Very Open House

Mondays always get me thinking; it’s a new week so it’s time for some new brilliance to get some homes sold. I don’t know what it is this Monday though; I am fresh out of ideas. I blame the intensive Econ studying that monopolized (get it?) my weekend and left little time for marketing brainstorming. Not to worry though, the internet and Canada have saved the day by providing the best marketing idea yet – the 72 hour open house.

On January 26th, Kye Grace of Vancouver staged a 72 hour open house. Isn’t it Brilliant? It’s a little dramatic (so what if there was heat, water, and plumbing - he still had to sleep on a cot) and little unusual, but most importantly it caught the attention of the news. And not just the local news, somehow it made it all the way down here and onto Mike Price’s blog http://www.mlpodcast.com/blog/ (I like him because he uses the term irreverent in his subheading) and then into my hands. According to Kye’s website http://www.72houropenhouse.com/ he was not allowed to leave the house for three whole days forcing him to bring all of his food and necessities with him. Interestingly, he reported that people stopped by at all hours of the day and night to preview the house. I like it. I like the whole thing. 72 hour open house at Galerie Condos – sounds good to me.

In other news, we saw an increase in sales across all of our communities this week. Everywhere from Red hook, to Battery Park City, to Stamford people pulled the trigger, signed on the dotted line, let ‘er rip, or whatever colloquial cliché you like. People bought homes this week. Congratulations and keep it up!

Gotta Have an Aqua Grotto

I took a field trip to Jersey City yesterday to see what life is like on the other side of the river. After navigating my way onto the correct PATH train (at least they take Metrocards) and bracing myself for big hair, guidos, and sightings of The Boss – I have to say I was pleasantly surprised. Jersey City itself may be nothing to write home about, but the aqua grotto at Trump Plaza JC (http://www.njtrump.net/) – mmmmm now this is definitely worth a visit or maybe even a new condo. I have been hearing about this “dazzling” amenity since it was just a concept on the drawing board but I have to say, I had no idea just how cool it was going to be. This picture doesn’t even do it justice. Here are five reasons why the aqua grotto has exceeded my expectations:

1. Who doesn’t want to be able to throw their own bash in the grotto? It’s like being Hugh Heffner without the ambiguous filth.

2. I would like relief from muscle tension and stiff joints, lymph detoxification, blood circulation improvement, sinus congestion relief and a boost to my immune system - all courtesy of the steam shower (http://www.steam-sauna-benefits.com/steam_room_benefits.html).

3. Marble floors, cushy lounge chairs, pitchers of water with lemons floating. Enough said.

4. When you walk in, the grotto is warm and inviting. No odor of chlorine anywhere!

5. I heard some rumors that residents are kicking back and enjoying wine coolers in the grotto. Yup, wine coolers in the grotto – that’s just my style.



My apologies for the short and late post this week – my econ mid-term is looming large. Does anyone know how to take Total Revenue and Calculate Marginal Revenue from it?

Starter Homes For All and Cassa's Pearly Whites

Liberty Harbor Townhome Exterior - The New Starter Home

The sun is shining (or at least it was this morning), the weather is mild and things seem to be looking up. The New York Times published a story with economic signs that indicate we are “at the bottom.” In the article Barry Ritholtz, Professional Investor and writer of the user-friendly econ blog “The Big Picture,” (http://www.ritholtz.com/) suggests that we have hit bottom when a young couple earning two modest incomes can qualify for a mortgage and afford to purchase a two-or three-bedroom starter home in a middle – income neighborhood. This is wonderful news, particularly because that is just what we are starting to see. Take the breathtaking waterfront super community Liberty Harbor located in Jersey City (http://www.libertyharbor.com/). Made up of a mixture of townhomes, condos, and rental buildings this behemoth of a development provides a range of prices and living options designed to appeal to many segments of the market - and it did; achieving a respectable 90% sold before the market tanked. What’s happening at Liberty Harbor now is extremely interesting. People who bought the smaller, less costly homes are returning to the sales office interested in moving up to larger homes. Their families are growing, they need more space for a home office, they just adopted a Great Dane - whatever the reason, they love Liberty Harbor and now have the opportunity to afford a bigger home – a true starter home, and not just the one bedroom they have been squishing into. It’s a beautiful thing. And it’s very similar to what Barry told us to look out for. People who were priced out of the homes they wanted now have the opportunity to buy their dream homes, or at least their starter dream homes.

The other thing that is making me particularly happy today is that http://www.curbed.com/ came through with another great Cassa posting. Yes you snarky curbed real estate bloggers – I applaud you. As I may have mentioned before, Cassa World Condominium Residences and Hotel (http://www.cassanyc.com/) will soon be throwing its hat into the condo market ring and I am part of the team responsible for its dramatic entrance. Thanks again guys for this sneaky feeling post http://curbed.com/archives/2009/03/10/in_your_face_sneak_preview_of_cassa_nys_pearly_whites.php

Infomercials and the Secret to Saving the Economy

Survived jury duty after 2 days of sitting around making new friends (who unfortunately did not want to buy real estate from me) and a brutal questioning session where all my biases were exposed – apparently I love doctors and cops which makes me ineligible to be a juror in either drug cases or medical malpractice cases. Now it’s back to the grind – there are homes to be sold.

Real estate is a tough business and it only seems to be getting tougher. Developers are feeling the pressure from their banks, construction is being pinched by rising costs, and marketing and sales agents are running around like chickens with their heads cut off. I have figured it out though, I can solve the housing crises with my simple “buy one, get one free” incentive plan. It’s really quite straightforward. One of the biggest challenges facing the real estate market today is the over-supply or “gluttony” of homes, as analysts like to call it. By giving purchasers two homes at once we will be doubling the pace that real estate is absorbed. In addition, we will be increasing the rate that people buy at because no one can turn down a free home. It’s the like the “snuggie,” only better because you get a free home instead of just a free press open book light http://www.youtube.com/watch?v=2xZp-GLMMJ0. It’s really a no brainer. “Hi, Tim Geithner? I have an idea…”

Check this out http://video.google.com/videoplay?docid=-2757699799528285056. Someone with a little too much time on their hands created a roller coaster animation tracing the rise and fall of real estate prices (not to worry it was adjusted for inflation) since the 1890’s. Unfortunately, the rollercoaster ends in 2006 when prices were just leveling out and robs us of the dramatic and nauseating thrill that 2007 – 2009 undoubtedly provides. It’s still pretty neat though.

Just a reminder tomorrow, Friday the 13th, is Colgate spirit day. Please be sure to wear an article of clothing showing your Colgate pride. No. I am serious.

Kipsy here i come!

Christian Punsal, 24, bought this three-bedroom home in Elk Grove, Calif., for $193,000.

Day light savings is here! You know what that means - the spring selling season is almost upon us. The New York Times’ aka bad news bear is forecasting a “Gloomy Outlook” for the Spring Market. http://www.nytimes.com/2009/03/07/business/economy/07home.html?_r=1&scp=3&sq=spring%20real%20estate%20market&st=cse. However, I think they have overlooked some important concepts in their analysis. For one, the spring makes people think about re-birth and cleaning/getting a fresh start. In this market, it may actually be cheaper to buy a whole new home then to pay a professional cleaner to neaten up the squalor that most of us have been living in since the market tanked. But in all seriousness, the spring does motivate people to make changes and try new things. This spring in particular, with the government providing up to $8,000 in tax credits for first time home buyers http://www.federalhousingtaxcredit.com/ and with Real Estate prices entering attainable ranges people will purchase. In addition, buying homes makes people happy – and isn’t that what we all want for this spring? Just look at Christian Punsal who is pictured in the abovementioned article and at the top of this post. You tell me - does he look like a Gloomy Gus?

Now onto the shameless or perhaps not so shameless plug for Hudson Harbor – Westchester’s Newest, Greenest, Closest to the River, townhome and condominium community (http://www.hudsonharborny.com/). Located in Tarrytown on the banks of the mighty Hudson River, Hudson Harbor is destined to become Westchester’s Premiere living Destination (yup copied that right out of the brochure). Although this community is unique based on its own merits (who knew you could hire a Corporate Sustainability Strategist/Green Real Estate Authority who can also ensure historical relevance and context for your townhome design?) I would like to propose adding a new, never heard of before, amenity – community sea creature. Recently, or maybe not so recently – (Wikipedia was a little vague), sightings of a sea serpent living in the Hudson River have been reported. This elusive serpent has been named Kipsy (after Poughkepsie where he was first seen). I personally, think Kipsy would make an ideal mascot and amenity for Hudson Harbor. Children could learn the responsibilities of pet ownership while their parents elevated their status by having an exotic and one-of a kind pet. It’s a win/win. I am on it.

Back off - I don't like Airline food and I am just looking

I saw an ad yesterday that said “If you like airline food, please don't fly Austrian.” Huh? I couldn’t resist this forced logical reasoning. I don’t like airline food…so I should fly Austrian? Hahn, yes! I DON’T like airline food so I SHOULD fly Austrian! Brilliant. It’s like a blatant double negative - “I am not not licking toads.” If only real estate ads could be this clever. And maybe they can:

If you like paying your landlords' mortgage please don't buy your own home.

If you like don’t like building equity please don’t buy your own home.

Somehow it just doesn’t have the bite of those Austrian Ads. Gute Job-Kerle

Moving right along. Visited one of our sites in Connecticut and was once again amazed by how many people had stopped by and agreed to receive a sales presentation “just to see the model.” I find this mind boggling. I personally will do anything in my power to not speak to a sales agent. It doesn’t matter what they are selling – I am “just looking.” It doesn’t matter if I am determined to buy and know exactly what I want – don’t bother me, I am JUST LOOKING! And I will continue just looking right up until I bring my merchandise to the register and fork over my Amex Card.
Many of these people on the other hand welcome the presentation. Now don’t get me wrong, it is a particularly lovely townhome model (http://www.palmerhillhomes.com/), and it is always fun to see how homes are decorated, but I have a suspicion that some of these visitors aren’t just looking. Some of these people are just like me and they are secretly picking out their home. It’s okay. I can wait...but not too long…please…

I have jury duty next week and have been thinking about how to sell condos to citizens doing their civic duty - ideas anyone?

Real Estate

Truffles Tribeca's new e-mail blast campaign has created a buzz from anyone who was lucky enough (?) to receive it. http://curbed.com/tags/truffles-tribeca. But between rumored opium beds, references to swine, and shameless hot chick promotions what is it that Truffles is really selling?

They are selling real estate just like every developer trying to rent or sell their piece of the rock in Manhattan. And Manhattan real estate has never been more creative at courting brokers and buyers alike. From negotiating on price, to buying down financing, to giving away free trips- Manhattanites and Bridge and Tunneler's are wising up to the fact that now is the time to buy if they are looking for a smoking hot deal.

As a project manager for a Real Estate Marketing and Sales firm in Manhattan I am one of these brilliant minds coming up with the exciting traffic driving ideas. Are you a broker? Want to win a trip for 2 to south beach? www.cassanyc.com. Are you a buyer? Looking for once in a lifetime financing programs and a free gift certificate to Cornelia Spa? Check out www.galeriecondo.com. Help me out here people. Visit our buildings, visit every building in Manhattan. Give us your best offer. Buy a home. Buy 2 homes. Stop Renting. Move Forward. Now is your chance.

In other news, Colgate University Hockey held it all together yesterday and beat ECAC champions Yale in a messy but still victorious 3-2 upset. Take that Ivy League