Cover June 2010 Final.indd
16
More landlords try strategic defaults
26
‘Mr. Green’ at the closing table
38
NYC neighborhood with the most chains
58
Manhattan’s biggest houses
93
City Island sees movie boost
THEREALDEAL N EW YO RK R E AL E S T A TE N E W S
www.TheRealDeal.com
SL Green: Too aggressive? REIT denies loan-to-own
as it goes on buying tear
BY ADAM PIORE Real estate downturn? Don’t tell SL Green. The REIT has done roughly $1 billion of deals in New York since the end of last year. While some have labeled at least two of the firm’s buys textbook “loan-to-own” gambits, SL Green denies those tactics. Still, there’s no denying it believes the market has bottomed and that it’s willing to brawl over properties it wants.
Vol. 8 No. 6 June 2010 $3.00
The top agents
Ranking NYC’s leading 75 residential brokers Corcoran broker Carrie Chiang, the top broker in the city, at an open house on the Upper East Side.
Last year, Manhattan apartments on the 25th floor sold for an average of $1,666 a foot, while first-floor units went for $734. See page 20.
AT A GLANCE Welcoming back grads–at least some While college grads who usually rent apartments were non-existent last year, brokers say they’re back. Still, there aren’t as many springtime renters as some expected. See page 14.
See story on page 52
Hamptons spec building returns
Don’t believe the office market hype
New homes cheaper than old BY CAREN CHESLER Hamptons developers are seizing on the improved-but-still-tenuous market and building on spec again. And with East End land prices down, some of the new homes are actually cheaper than resales.
FACT
BY CANDACE TAYLOR Manhattan’s top real estate agents are as diverse as the city itself, with some (even in this market) focusing on new condos FEATURE STORY and others working with historic townhouses. This year, with the help of
OLR research, The Real Deal ranked the city’s top 75 brokers by dollar amount of listings. The Corcoran Group’s Carrie Chiang took the top spot with nearly $325 million worth of listings, while Prudential Douglas Elliman’s Dolly Lenz and Sotheby’s Serena Boardman came in second and third, respectively.
Headline-grabbing leases may make it seem like New York’s commercial market has begun to improve, but in many cases the activity is just existing tenants trading up. See page 22. 123 Third Avenue
See story and chart beginning on page 33
See story on page 28
Developer public enemy No. 1 Fifth and Park go loafer to loafer Lawyer Adam Leitman Bailey has quickly become one of real estate’s most controversial figures BY CANDACE TAYLOR Since the downturn began, real estate lawyer Adam Leitman Bailey has gone up against some of the city’s biggest developers to get clients out of condo contracts. His tactics and self-promotional style have made him one of the most controversial figures in the industry. So who is he, exactly?
Stacking up prices on the toniest avenues in the city
BY C.J. HUGHES When assessing the high-end New York residential market, there’s no better place to look than Fifth or Park avenues. But SPECIAL REPORT how do the two stack up against each other? Inside is a year-by-year breakdown of the last decade, detailing which of the tony Upper East Side thoroughfares took home first prize and why.
See story on page 60
See story on page 56
How much does brand matter? A fallen star Firms, brokers remake image to adapt to new market iStar struggles with bevy of troubled NYC projects BY CANDACE TAYLOR
Donald dishes on his doubters
Branding. It’s the reason you choose Stumptown over Starbucks or Barneys over Saks. But when it comes to buying real estate, how much do brand names matter? Some brokers say brand loyalty is becoming less crucial as technology gives more people access to listings. Many agents are even fleeing larger firms, arguing the fees they charge aren’t worth it. Meanwhile, new development firms have been forced to rebrand themselves as they shift toward resales. And some brokerages are now taking steps to control agents’ Tweeting and Facebook pages. Their aim, of course, is to protect their brand.
BY DAVID JONES Jay Sugarman is swimming in a sea of red ink. His Manhattanbased iStar Financial has accumulated a virtual who’s who of troubled assets in New York, from busted condos like One Madison Park to William Beaver House. Now the lender is taking steps to sell its valuable assets and shore up its troubled deals.
See page 94.
See stories beginning on page 41
See story on page 25
PHOTO CREDITS ARE HERE
For 123 Third, better late than earlier A series of delays postponed the launch of 123 Third Avenue by a few years. But now the 47-unit condo in “Union Square East” is getting ready to start selling in the first viable sales market in two years. See page 48.
Move over Manhattan They’re not Manhattan prices, but the top sales in Brooklyn and Queens so far in 2010 are nothing to sneeze at. See page 30.
www.TheRealDeal.com
TRUMP AND CHIANG PHOTOGRAPHS BY BEN BAKER; 123 THIRD PHOTOGRAPH BY MAX DWORKIN; ILLUSTRATION BY DAVID COLE
TOP BROKERS
Manhattan agents with the most listings Rank
Name
Firm
Total value of listings
Number of listings
1
Carrie Chiang
Corcoran
$324,273,554
75
Listings include exclusive marketing assignment for 250 East 49th Street (the Alexander).
2
Dolly Lenz
Prudential Douglas Elliman
$288,317,500
33
Listings include exclusive marketing assignment for 390 West End Avenue (the Apthorp).
3
Serena Boardman
Sotheby’s International Realty
$267,120,000
18
Listings include 22 East 71st Street, a $75 million townhouse owned by developer Aby Rosen.
4
Leonard Steinberg & Hervé Senequier1
Prudential Douglas Elliman
$249,656,500
38
Listings include exclusive marketing assignment for 415 Greenwich Street and 54 Bond Street.
5
Elizabeth Sample & Brenda Powers
Brown Harris Stevens
$213,934,000
12
Listings include three apartments at 25 Columbus Circle (Time Warner Center) for $57.5 million, $34.95 million and $29.75 million.
6
Kathy Sloane
Brown Harris Stevens
$190,560,000
14
Listings include a unit at 640 Park Avenue for $26 million, and two units at 998 Fifth Avenue for $34 and $25 million.
7
Ilan Bracha
Prudential Douglas Elliman
$173,448,985
69
Listings include a unit at 150 Central Park South for $23 million and a unit at 33 West 56th Street (the Centurion) for $11.49 million.
8
Raphael De Niro & Claudine De Niro2
Prudential Douglas Elliman
$172,702,600
33
Listings include a unit at 80 Columbus Circle (the Mandarin Hotel residences) for $38 million.
9
Paula Del Nunzio
Brown Harris Stevens
$151,544,000
14
Listings include 1009 Fifth Avenue, the Duke Semans Mansion, on the market for $50 million.
10
John Burger
Brown Harris Stevens
$145,885,000
16
Listings include a unit at 755 Park Avenue on the market for $18 million.
11
Leighton Candler
Corcoran
$130,175,000
7
Listings include penthouses at 1040 and 1020 Fifth Avenue for $32 and $34 million, respectively.
12
Meredyth Smith
Sotheby’s International Realty
$125,900,000
5
Listings include 22 East 71st Street, a $75 million townhouse, which is a co-exclusive with Serena Boardman.
13
Adam Modlin & Marisa Sargent
The Modlin Group
$125,794,000
10
Listings include a townhouse at 3 Riverview Terrace for $15.5 million.
14
Jed Garfield
Leslie J. Garfield & Co.
$116,150,000
5
Listings include a townhouse at 14 East 95th Street for $18.5 million.
15
Carol Cohen & Deborah Grubman
Corcoran
$110,450,000
9
Listings include a unit at 157 Hudson Street for $18.5 million and a unit at 1010 Fifth Avenue, also for $18.5 million.
16
Alexa Lambert
Stribling
$102,335,000
23
Part of exclusive marketing team at 1200 Fifth Avenue and at 456 West 19th Street.
17
Shelley O’Keefe
Corcoran
$88,980,000
24
Part of exclusive marketing team for 311 West Broadway (Soho Mews).
18
Rana Hunter Williams
Trump Sales and Leasing
$87,640,000
17
Listings include resale units at Trump properties such as 721 Fifth Avenue (Trump Tower) and 106 Central Park South (Trump Parc).
19
Wendy Maitland
Brown Harris Stevens
$80,325,000
16
Listings include a penthouse at 33 Vestry Street for $14.95 million and a townhouse at 5 Centre Market Place for $12.95 million.
20
Cathy Franklin
Brown Harris Stevens
$79,445,000
6
Listings include units at 950 Fifth Avenue and 720 Park Avenue for $29 million and $27.5 million, respectively.
21
Debra Stotts
Trump Sales and Leasing
$74,260,000
17
On-site agent (for resales) at 845 United Nations Plaza.
22
Sharon E. Baum
Corcoran
$70,945,000
6
Listings include units at 998 Fifth Avenue and 240 Centre Street for $25 million and $16.75 million, respectively.
23
Richard Orenstein
Halstead Property
$70,459,000
21
Listings include a townhouse on East 10th Street for $12.95 million.
24
Burt Savitsky
Brown Harris Stevens
$69,537,000
13
Lisings include five units with an aggregate value of $52 million at 1 Central Park South (the Plaza).
25
Cathy Taub
Stribling
$69,070,000
19
Part of exclusive marketing team at 456 West 19th Street.
26
Holly Parker & Trisha Reidel
Prudential Douglas Elliman
$67,705,000
11
Exclusive agent at the Jean Nouvel-designed 100 11th Avenue.
27
Leslie French & David Strout
East Egg Realty
$67,400,000
17
Part of exclusive marketing team at 311 West Broadway (Soho Mews).
28
Sami Hassoumi
Brown Harris Stevens
$67,150,000
3
Listings include townhouses on East 63rd Street and East 94th Street for $37.5 million and $28 million, respectively.
29
Ariel Cohen
Prudential Douglas Elliman
$65,302,000
29
Building specialist at 25 Broad Street.
30
Kirk Henckels & Philippa Ward
Stribling
$63,640,000
6
Listings include units at 810 Fifth Avenue and 778 Park Avenue for $27.5 million and $24.9 million, respectively.
31
Roger Erickson
Sotheby’s International Realty
$60,845,000
8
Listings include a unit at 795 Fifth Avenue (the Pierre) for $25 million.
32
Richard Steinberg
Warburg Realty Partnership
$60,570,000
9
Listings include units at 180 East 93rd Street.
33
Sabrina Saltiel
Prudential Douglas Elliman
$60,324,000
9
Listings include townhouses at 14 and 16 East 95th Street priced at $18.5 million and $22 million, respectively.
34
George W. van der Ploeg
Prudential Douglas Elliman
$59,100,000
5
Listings include townhouses at 4 West 75th Street and 325 East 53rd Street for $19.95 million and $16 million, respectively.
35
Anne Snee
Corcoran
$58,690,000
4
Listings include a unit at 101 Central Park West for $24.3 million.
36
Emily Beare
CORE
$58,620,000
3
Listings include exclusive marketing assignment for 141 Fifth Avenue. Other listings include a unit at 15 Central Park West priced at $55 million.
37
Fredrik Eklund & John Gomes3
CORE
$58,520,000
22
Listings include exclusive marketing assignment for 650 Sixth Avenue and 290 Mulberry Street.
38
Amanda Heyn & March Achilles
Stribling
$57,250,000
12
Part of exclusive marketing team at 1200 Fifth Avenue.
39
Reid Price
Brown Harris Stevens
$56,300,000
15
Listings include penthouse and another unit at 385 West 12th Street for $9.695 million and $7.195 million, respectively.
40
Millie Perry
Stribling
$56,130,000
16
Part of exclusive marketing team at 456 West 19th Street.
41
Daniela Kunen
Prudential Douglas Elliman
$55,614,000
13
Listings include a unit at 2 East 70th Street for $14.95 million.
34 June 2010 www.TheRealDeal.com
Notes
TOP BROKERS Rank
Name
Firm
Total value of listings
Number of listings
42
Erin Boisson Aries
Brown Harris Stevens
$55,219,000
11
Exclusively marketing 515 West 23rd Street.
43
Dexter Guerrieri, Cathy Connolly & Khatera Ahmad
Vandenberg Real Estate
$54,575,000
10
Listings include a townhouse at 9 West 70th Street for $12 million.
44
Nikki E. Field
Sotheby’s International Realty
$54,135,000
9
Listings include a unit at 435 East 52nd Street for $24.5 million (shared with Sotheby’s brokers Kevin Brown and Robert Thomas).
45
Deanna Kory
Corcoran
$53,965,000
23
Listings include a single-family home at 40 Riverside Drive for $20 million.
46
Jacky Teplitzky, Max Dobens & David Cooper4
Prudential Douglas Elliman
$52,883,000
22
Listings include a unit at 219 East 67th Street for $12.945 million.
47
Alexis Bodenheimer
Brown Harris Stevens
$51,945,000
5
Listings include a unit at 950 Fifth Avenue for $29 million.
48
Liz Omedes
Mercedes/Berk
$51,390,000
8
Exclusively marketing 120 11th Avenue.
48
Moshe Balalo & Alon Chadad5
Nest Seekers International
$51,390,000
16
Listings include a unit at 80 Riverside Boulevard (the Rushmore) and 240 Riverside Boulevard (the Heritgage) for $12.95 million and $12.5 million, respectively.
50
Leslie Mason
Prudential Douglas Elliman
$50,900,000
6
Listings include townhouses at 293-295 West 4th Street and 24 Bank Street for $16 million and $12.25 million, respectively.
51
Michele Kleier
Gumley Haft Kleier
$50,095,000
5
Listings include a unit at 995 Fifth Avenue (the Stanhope) for $28.5 million.
52
Kevin B. Brown & Robert Thomas6
Sotheby’s International Realty
$49,313,000
9
Listings include a townhouse at 435 East 52nd Street for $24.5 million (shared with Sotheby’s broker Nikki Field).
53
Kirk Rundhaug
CORE
$48,684,000
12
Listings include a unit at 252 Seventh Avenue for $22.45 million.
54
Ileen Schoenfeld
Brown Harris Stevens
$47,885,000
6
Listings include a unit (which is a combination of three apartments) at 211 Central Park West (the Beresford) for $29.75 million.
55
Emilie O’Sullivan
Corcoran
$47,605,000
9
Listings include a unit at 1 Central Park South (the Plaza) for $22.5 million.
56
Jessica Ushan
Brown Harris Stevens
$47,465,000
14
Listings included a number of units at 425 East 58th Street (the Sovereign).
57
Eva Mohr
Sotheby’s International Realty
$46,990,000
3
Listings include units at 960 Fifth Avenue and 435 East 52nd Street for $22 million and $18.995 million, respectively.
58
Barbara Fox
Fox Residential Group
$46,835,000
7
Listings include a unit at 834 Fifth Avenue for $29.5 million.
59
Wilbur Gonzalez
Prudential Douglas Elliman
$46,419,000
9
Worked at Brown Harris Stevens until last month when he announced move to Elliman. Recent listings have included several units at 40 Mercer.
60
Matthew Lesser
Leslie J. Garfield & Co.
$46,410,000
6
Listings include townhouses at 123-125 East 10th Street for $12.95 million and 227-229 East 58th Street for $11 million.
61
Daniel Neiditch
River 2 River Realty
$45,405,895
34
Listings include a number of units at 635 West 42nd Street (the Atelier).
62
Maria Torresy
Brown Harris Stevens
$45,055,000
7
Listings include units at 1 Central Park South (the Plaza) and 150 Central Park South for $14.99 million and $9.975 million, respectively.
63
Michael Pellegrino
Sotheby’s International Realty
$44,545,000
4
Listings include an Upper West Side townhouse for $7.995 million.
64
Lika Neoly Williams
Prudential Douglas Elliman
$43,074,000
13
Listings include 502 Park Avenue (Trump Park Avenue) for $7.8 million and several units at 220 Riverside Boulevard (Trump Place).
65
Robert Browne & Chris Kann
Corcoran
$42,915,000
6
Listings include a townhouse at 169 East 80th Street for $8.485 million.
66
Paulette Demers
Prudential Douglas Elliman
$42,805,000
11
Part of exclusive marketing team at 415 Greenwich Street.
67
Wolf Jakubowski
Brown Harris Stevens
$42,450,000
7
Listings include townhouses on West 9th Street and West 71st Street for $13.5 million and $6.95 million, respectively.
68
Nancy Elias
Brown Harris Stevens
$41,800,000
4
Listings include a unit at 770 Park Avenue for $27.5 million.
69
Gilad Azaria
Prudential Douglas Elliman
$41,503,000
21
Listings include several units at 120 Riverside Boulevard (Trump Place) and 55 Wall Street.
70
Sandra Papale
Prudential Douglas Elliman
$41,344,000
4
Listings include a unit at 120 East 87th Street for $19.75 million.
71
David Enloe
Corcoran
$41,095,000
4
Shares listings at 875 Park Avenue and 240 Centre Street for $15.5 and $16.75 million with sister Sharon Baum.
72
Craig Filipacchi & Jacques Foussard
Brown Harris Stevens
$40,525,000
6
Listings include a unit at 106 Central Park South for $16 million.
73
Keith Copley
Sotheby’s International Realty
$40,245,999
14
Listings include a penthouse at 459 West Broadway for $16.5 million.
74
Dennis Mangone
Brown Harris Stevens
$40,195,000
6
Listings include a unit at 80 Columbus Circle (Mandarin Oriental Hotel) for $18.5 million.
75
Nancy Candib & Chris Dominiak
Brown Harris Stevens
$38,200,000
9
Listings include units at 927 Fifth Avenue and 160 Central Park South for $9.9 million and $7.995 million, respectively.
Notes
Source: OLR.com. Includes active Manhattan residential listings as of April 1 that had been updated within the previous 30 days. Known teams or partnerships were counted as one entity. On-site agents who work exclusively for a developer were not counted. However, new development listings held by agents who work for a brokerage firm were counted in addition to their resale listings. For teams, the broker with the higher dollar value of listings was used for the ranking. 1)Hervé Senequier had $220.7M in listings in OLR; 2) Claudine De Niro had $66.6M; 3) John Gomes had $50.6M; 4) David Cooper had $50.1M; Max Dobens had $50.9M; 5) Alon Chadad had $48.7M; 6) Robert Thomas had $43.3M. “Notes” includes some listing details from May compiled by TRD.
recalled. “My favorite line was, ‘More shoulder pads!’” Steinberg moved to New York in the early 1990s and started dabbling in real estate.
This year’s ranking of the city’s top brokers showcases a range of different business models. Now, he specializes in high-end properties Downtown, or those that are “Uptown, with a Downtown mindset.”
About eight years ago, he teamed up with Hervé Senequier, who has master’s degrees in nuclear physics and engineering. Ranked No. 4 on the list with $249.66 million worth of listings, the two Elliman brokers are currently the exclusive sales agents at high-end new development condos like 415 Greenwich Street in Tribeca, 54 Bond Street in Noho and the Annabelle Selldorf-designed “Sky Garage” at 200 11th Avenue, where Steinberg himself recently bought a unit. At that project in 2009, the pair sold the top four floors for a total of $34 million — the highest price ever achieved for a West Chelsea property, and a personal best for the duo. www.TheRealDeal.com June 2010 35
More landlords try strategic defaults
26
‘Mr. Green’ at the closing table
38
NYC neighborhood with the most chains
58
Manhattan’s biggest houses
93
City Island sees movie boost
THEREALDEAL N EW YO RK R E AL E S T A TE N E W S
www.TheRealDeal.com
SL Green: Too aggressive? REIT denies loan-to-own
as it goes on buying tear
BY ADAM PIORE Real estate downturn? Don’t tell SL Green. The REIT has done roughly $1 billion of deals in New York since the end of last year. While some have labeled at least two of the firm’s buys textbook “loan-to-own” gambits, SL Green denies those tactics. Still, there’s no denying it believes the market has bottomed and that it’s willing to brawl over properties it wants.
Vol. 8 No. 6 June 2010 $3.00
The top agents
Ranking NYC’s leading 75 residential brokers Corcoran broker Carrie Chiang, the top broker in the city, at an open house on the Upper East Side.
Last year, Manhattan apartments on the 25th floor sold for an average of $1,666 a foot, while first-floor units went for $734. See page 20.
AT A GLANCE Welcoming back grads–at least some While college grads who usually rent apartments were non-existent last year, brokers say they’re back. Still, there aren’t as many springtime renters as some expected. See page 14.
See story on page 52
Hamptons spec building returns
Don’t believe the office market hype
New homes cheaper than old BY CAREN CHESLER Hamptons developers are seizing on the improved-but-still-tenuous market and building on spec again. And with East End land prices down, some of the new homes are actually cheaper than resales.
FACT
BY CANDACE TAYLOR Manhattan’s top real estate agents are as diverse as the city itself, with some (even in this market) focusing on new condos FEATURE STORY and others working with historic townhouses. This year, with the help of
OLR research, The Real Deal ranked the city’s top 75 brokers by dollar amount of listings. The Corcoran Group’s Carrie Chiang took the top spot with nearly $325 million worth of listings, while Prudential Douglas Elliman’s Dolly Lenz and Sotheby’s Serena Boardman came in second and third, respectively.
Headline-grabbing leases may make it seem like New York’s commercial market has begun to improve, but in many cases the activity is just existing tenants trading up. See page 22. 123 Third Avenue
See story and chart beginning on page 33
See story on page 28
Developer public enemy No. 1 Fifth and Park go loafer to loafer Lawyer Adam Leitman Bailey has quickly become one of real estate’s most controversial figures BY CANDACE TAYLOR Since the downturn began, real estate lawyer Adam Leitman Bailey has gone up against some of the city’s biggest developers to get clients out of condo contracts. His tactics and self-promotional style have made him one of the most controversial figures in the industry. So who is he, exactly?
Stacking up prices on the toniest avenues in the city
BY C.J. HUGHES When assessing the high-end New York residential market, there’s no better place to look than Fifth or Park avenues. But SPECIAL REPORT how do the two stack up against each other? Inside is a year-by-year breakdown of the last decade, detailing which of the tony Upper East Side thoroughfares took home first prize and why.
See story on page 60
See story on page 56
How much does brand matter? A fallen star Firms, brokers remake image to adapt to new market iStar struggles with bevy of troubled NYC projects BY CANDACE TAYLOR
Donald dishes on his doubters
Branding. It’s the reason you choose Stumptown over Starbucks or Barneys over Saks. But when it comes to buying real estate, how much do brand names matter? Some brokers say brand loyalty is becoming less crucial as technology gives more people access to listings. Many agents are even fleeing larger firms, arguing the fees they charge aren’t worth it. Meanwhile, new development firms have been forced to rebrand themselves as they shift toward resales. And some brokerages are now taking steps to control agents’ Tweeting and Facebook pages. Their aim, of course, is to protect their brand.
BY DAVID JONES Jay Sugarman is swimming in a sea of red ink. His Manhattanbased iStar Financial has accumulated a virtual who’s who of troubled assets in New York, from busted condos like One Madison Park to William Beaver House. Now the lender is taking steps to sell its valuable assets and shore up its troubled deals.
See page 94.
See stories beginning on page 41
See story on page 25
PHOTO CREDITS ARE HERE
For 123 Third, better late than earlier A series of delays postponed the launch of 123 Third Avenue by a few years. But now the 47-unit condo in “Union Square East” is getting ready to start selling in the first viable sales market in two years. See page 48.
Move over Manhattan They’re not Manhattan prices, but the top sales in Brooklyn and Queens so far in 2010 are nothing to sneeze at. See page 30.
www.TheRealDeal.com
TRUMP AND CHIANG PHOTOGRAPHS BY BEN BAKER; 123 THIRD PHOTOGRAPH BY MAX DWORKIN; ILLUSTRATION BY DAVID COLE
TOP BROKERS
Manhattan agents with the most listings Rank
Name
Firm
Total value of listings
Number of listings
1
Carrie Chiang
Corcoran
$324,273,554
75
Listings include exclusive marketing assignment for 250 East 49th Street (the Alexander).
2
Dolly Lenz
Prudential Douglas Elliman
$288,317,500
33
Listings include exclusive marketing assignment for 390 West End Avenue (the Apthorp).
3
Serena Boardman
Sotheby’s International Realty
$267,120,000
18
Listings include 22 East 71st Street, a $75 million townhouse owned by developer Aby Rosen.
4
Leonard Steinberg & Hervé Senequier1
Prudential Douglas Elliman
$249,656,500
38
Listings include exclusive marketing assignment for 415 Greenwich Street and 54 Bond Street.
5
Elizabeth Sample & Brenda Powers
Brown Harris Stevens
$213,934,000
12
Listings include three apartments at 25 Columbus Circle (Time Warner Center) for $57.5 million, $34.95 million and $29.75 million.
6
Kathy Sloane
Brown Harris Stevens
$190,560,000
14
Listings include a unit at 640 Park Avenue for $26 million, and two units at 998 Fifth Avenue for $34 and $25 million.
7
Ilan Bracha
Prudential Douglas Elliman
$173,448,985
69
Listings include a unit at 150 Central Park South for $23 million and a unit at 33 West 56th Street (the Centurion) for $11.49 million.
8
Raphael De Niro & Claudine De Niro2
Prudential Douglas Elliman
$172,702,600
33
Listings include a unit at 80 Columbus Circle (the Mandarin Hotel residences) for $38 million.
9
Paula Del Nunzio
Brown Harris Stevens
$151,544,000
14
Listings include 1009 Fifth Avenue, the Duke Semans Mansion, on the market for $50 million.
10
John Burger
Brown Harris Stevens
$145,885,000
16
Listings include a unit at 755 Park Avenue on the market for $18 million.
11
Leighton Candler
Corcoran
$130,175,000
7
Listings include penthouses at 1040 and 1020 Fifth Avenue for $32 and $34 million, respectively.
12
Meredyth Smith
Sotheby’s International Realty
$125,900,000
5
Listings include 22 East 71st Street, a $75 million townhouse, which is a co-exclusive with Serena Boardman.
13
Adam Modlin & Marisa Sargent
The Modlin Group
$125,794,000
10
Listings include a townhouse at 3 Riverview Terrace for $15.5 million.
14
Jed Garfield
Leslie J. Garfield & Co.
$116,150,000
5
Listings include a townhouse at 14 East 95th Street for $18.5 million.
15
Carol Cohen & Deborah Grubman
Corcoran
$110,450,000
9
Listings include a unit at 157 Hudson Street for $18.5 million and a unit at 1010 Fifth Avenue, also for $18.5 million.
16
Alexa Lambert
Stribling
$102,335,000
23
Part of exclusive marketing team at 1200 Fifth Avenue and at 456 West 19th Street.
17
Shelley O’Keefe
Corcoran
$88,980,000
24
Part of exclusive marketing team for 311 West Broadway (Soho Mews).
18
Rana Hunter Williams
Trump Sales and Leasing
$87,640,000
17
Listings include resale units at Trump properties such as 721 Fifth Avenue (Trump Tower) and 106 Central Park South (Trump Parc).
19
Wendy Maitland
Brown Harris Stevens
$80,325,000
16
Listings include a penthouse at 33 Vestry Street for $14.95 million and a townhouse at 5 Centre Market Place for $12.95 million.
20
Cathy Franklin
Brown Harris Stevens
$79,445,000
6
Listings include units at 950 Fifth Avenue and 720 Park Avenue for $29 million and $27.5 million, respectively.
21
Debra Stotts
Trump Sales and Leasing
$74,260,000
17
On-site agent (for resales) at 845 United Nations Plaza.
22
Sharon E. Baum
Corcoran
$70,945,000
6
Listings include units at 998 Fifth Avenue and 240 Centre Street for $25 million and $16.75 million, respectively.
23
Richard Orenstein
Halstead Property
$70,459,000
21
Listings include a townhouse on East 10th Street for $12.95 million.
24
Burt Savitsky
Brown Harris Stevens
$69,537,000
13
Lisings include five units with an aggregate value of $52 million at 1 Central Park South (the Plaza).
25
Cathy Taub
Stribling
$69,070,000
19
Part of exclusive marketing team at 456 West 19th Street.
26
Holly Parker & Trisha Reidel
Prudential Douglas Elliman
$67,705,000
11
Exclusive agent at the Jean Nouvel-designed 100 11th Avenue.
27
Leslie French & David Strout
East Egg Realty
$67,400,000
17
Part of exclusive marketing team at 311 West Broadway (Soho Mews).
28
Sami Hassoumi
Brown Harris Stevens
$67,150,000
3
Listings include townhouses on East 63rd Street and East 94th Street for $37.5 million and $28 million, respectively.
29
Ariel Cohen
Prudential Douglas Elliman
$65,302,000
29
Building specialist at 25 Broad Street.
30
Kirk Henckels & Philippa Ward
Stribling
$63,640,000
6
Listings include units at 810 Fifth Avenue and 778 Park Avenue for $27.5 million and $24.9 million, respectively.
31
Roger Erickson
Sotheby’s International Realty
$60,845,000
8
Listings include a unit at 795 Fifth Avenue (the Pierre) for $25 million.
32
Richard Steinberg
Warburg Realty Partnership
$60,570,000
9
Listings include units at 180 East 93rd Street.
33
Sabrina Saltiel
Prudential Douglas Elliman
$60,324,000
9
Listings include townhouses at 14 and 16 East 95th Street priced at $18.5 million and $22 million, respectively.
34
George W. van der Ploeg
Prudential Douglas Elliman
$59,100,000
5
Listings include townhouses at 4 West 75th Street and 325 East 53rd Street for $19.95 million and $16 million, respectively.
35
Anne Snee
Corcoran
$58,690,000
4
Listings include a unit at 101 Central Park West for $24.3 million.
36
Emily Beare
CORE
$58,620,000
3
Listings include exclusive marketing assignment for 141 Fifth Avenue. Other listings include a unit at 15 Central Park West priced at $55 million.
37
Fredrik Eklund & John Gomes3
CORE
$58,520,000
22
Listings include exclusive marketing assignment for 650 Sixth Avenue and 290 Mulberry Street.
38
Amanda Heyn & March Achilles
Stribling
$57,250,000
12
Part of exclusive marketing team at 1200 Fifth Avenue.
39
Reid Price
Brown Harris Stevens
$56,300,000
15
Listings include penthouse and another unit at 385 West 12th Street for $9.695 million and $7.195 million, respectively.
40
Millie Perry
Stribling
$56,130,000
16
Part of exclusive marketing team at 456 West 19th Street.
41
Daniela Kunen
Prudential Douglas Elliman
$55,614,000
13
Listings include a unit at 2 East 70th Street for $14.95 million.
34 June 2010 www.TheRealDeal.com
Notes
TOP BROKERS Rank
Name
Firm
Total value of listings
Number of listings
42
Erin Boisson Aries
Brown Harris Stevens
$55,219,000
11
Exclusively marketing 515 West 23rd Street.
43
Dexter Guerrieri, Cathy Connolly & Khatera Ahmad
Vandenberg Real Estate
$54,575,000
10
Listings include a townhouse at 9 West 70th Street for $12 million.
44
Nikki E. Field
Sotheby’s International Realty
$54,135,000
9
Listings include a unit at 435 East 52nd Street for $24.5 million (shared with Sotheby’s brokers Kevin Brown and Robert Thomas).
45
Deanna Kory
Corcoran
$53,965,000
23
Listings include a single-family home at 40 Riverside Drive for $20 million.
46
Jacky Teplitzky, Max Dobens & David Cooper4
Prudential Douglas Elliman
$52,883,000
22
Listings include a unit at 219 East 67th Street for $12.945 million.
47
Alexis Bodenheimer
Brown Harris Stevens
$51,945,000
5
Listings include a unit at 950 Fifth Avenue for $29 million.
48
Liz Omedes
Mercedes/Berk
$51,390,000
8
Exclusively marketing 120 11th Avenue.
48
Moshe Balalo & Alon Chadad5
Nest Seekers International
$51,390,000
16
Listings include a unit at 80 Riverside Boulevard (the Rushmore) and 240 Riverside Boulevard (the Heritgage) for $12.95 million and $12.5 million, respectively.
50
Leslie Mason
Prudential Douglas Elliman
$50,900,000
6
Listings include townhouses at 293-295 West 4th Street and 24 Bank Street for $16 million and $12.25 million, respectively.
51
Michele Kleier
Gumley Haft Kleier
$50,095,000
5
Listings include a unit at 995 Fifth Avenue (the Stanhope) for $28.5 million.
52
Kevin B. Brown & Robert Thomas6
Sotheby’s International Realty
$49,313,000
9
Listings include a townhouse at 435 East 52nd Street for $24.5 million (shared with Sotheby’s broker Nikki Field).
53
Kirk Rundhaug
CORE
$48,684,000
12
Listings include a unit at 252 Seventh Avenue for $22.45 million.
54
Ileen Schoenfeld
Brown Harris Stevens
$47,885,000
6
Listings include a unit (which is a combination of three apartments) at 211 Central Park West (the Beresford) for $29.75 million.
55
Emilie O’Sullivan
Corcoran
$47,605,000
9
Listings include a unit at 1 Central Park South (the Plaza) for $22.5 million.
56
Jessica Ushan
Brown Harris Stevens
$47,465,000
14
Listings included a number of units at 425 East 58th Street (the Sovereign).
57
Eva Mohr
Sotheby’s International Realty
$46,990,000
3
Listings include units at 960 Fifth Avenue and 435 East 52nd Street for $22 million and $18.995 million, respectively.
58
Barbara Fox
Fox Residential Group
$46,835,000
7
Listings include a unit at 834 Fifth Avenue for $29.5 million.
59
Wilbur Gonzalez
Prudential Douglas Elliman
$46,419,000
9
Worked at Brown Harris Stevens until last month when he announced move to Elliman. Recent listings have included several units at 40 Mercer.
60
Matthew Lesser
Leslie J. Garfield & Co.
$46,410,000
6
Listings include townhouses at 123-125 East 10th Street for $12.95 million and 227-229 East 58th Street for $11 million.
61
Daniel Neiditch
River 2 River Realty
$45,405,895
34
Listings include a number of units at 635 West 42nd Street (the Atelier).
62
Maria Torresy
Brown Harris Stevens
$45,055,000
7
Listings include units at 1 Central Park South (the Plaza) and 150 Central Park South for $14.99 million and $9.975 million, respectively.
63
Michael Pellegrino
Sotheby’s International Realty
$44,545,000
4
Listings include an Upper West Side townhouse for $7.995 million.
64
Lika Neoly Williams
Prudential Douglas Elliman
$43,074,000
13
Listings include 502 Park Avenue (Trump Park Avenue) for $7.8 million and several units at 220 Riverside Boulevard (Trump Place).
65
Robert Browne & Chris Kann
Corcoran
$42,915,000
6
Listings include a townhouse at 169 East 80th Street for $8.485 million.
66
Paulette Demers
Prudential Douglas Elliman
$42,805,000
11
Part of exclusive marketing team at 415 Greenwich Street.
67
Wolf Jakubowski
Brown Harris Stevens
$42,450,000
7
Listings include townhouses on West 9th Street and West 71st Street for $13.5 million and $6.95 million, respectively.
68
Nancy Elias
Brown Harris Stevens
$41,800,000
4
Listings include a unit at 770 Park Avenue for $27.5 million.
69
Gilad Azaria
Prudential Douglas Elliman
$41,503,000
21
Listings include several units at 120 Riverside Boulevard (Trump Place) and 55 Wall Street.
70
Sandra Papale
Prudential Douglas Elliman
$41,344,000
4
Listings include a unit at 120 East 87th Street for $19.75 million.
71
David Enloe
Corcoran
$41,095,000
4
Shares listings at 875 Park Avenue and 240 Centre Street for $15.5 and $16.75 million with sister Sharon Baum.
72
Craig Filipacchi & Jacques Foussard
Brown Harris Stevens
$40,525,000
6
Listings include a unit at 106 Central Park South for $16 million.
73
Keith Copley
Sotheby’s International Realty
$40,245,999
14
Listings include a penthouse at 459 West Broadway for $16.5 million.
74
Dennis Mangone
Brown Harris Stevens
$40,195,000
6
Listings include a unit at 80 Columbus Circle (Mandarin Oriental Hotel) for $18.5 million.
75
Nancy Candib & Chris Dominiak
Brown Harris Stevens
$38,200,000
9
Listings include units at 927 Fifth Avenue and 160 Central Park South for $9.9 million and $7.995 million, respectively.
Notes
Source: OLR.com. Includes active Manhattan residential listings as of April 1 that had been updated within the previous 30 days. Known teams or partnerships were counted as one entity. On-site agents who work exclusively for a developer were not counted. However, new development listings held by agents who work for a brokerage firm were counted in addition to their resale listings. For teams, the broker with the higher dollar value of listings was used for the ranking. 1)Hervé Senequier had $220.7M in listings in OLR; 2) Claudine De Niro had $66.6M; 3) John Gomes had $50.6M; 4) David Cooper had $50.1M; Max Dobens had $50.9M; 5) Alon Chadad had $48.7M; 6) Robert Thomas had $43.3M. “Notes” includes some listing details from May compiled by TRD.
recalled. “My favorite line was, ‘More shoulder pads!’” Steinberg moved to New York in the early 1990s and started dabbling in real estate.
This year’s ranking of the city’s top brokers showcases a range of different business models. Now, he specializes in high-end properties Downtown, or those that are “Uptown, with a Downtown mindset.”
About eight years ago, he teamed up with Hervé Senequier, who has master’s degrees in nuclear physics and engineering. Ranked No. 4 on the list with $249.66 million worth of listings, the two Elliman brokers are currently the exclusive sales agents at high-end new development condos like 415 Greenwich Street in Tribeca, 54 Bond Street in Noho and the Annabelle Selldorf-designed “Sky Garage” at 200 11th Avenue, where Steinberg himself recently bought a unit. At that project in 2009, the pair sold the top four floors for a total of $34 million — the highest price ever achieved for a West Chelsea property, and a personal best for the duo. www.TheRealDeal.com June 2010 35
