THE MARKETING DIRECTORS FORMS ALLIANCE WITH KW BUILDER MARKETING SERVICES GROUP

National marketing & sales firm joins forces with division of Kennedy Wilson to offer developers west of the Mississippi an incomparable sales and marketing service

New York, NY, October 12, 2012 – The Marketing Directors, the nationally-recognized residential marketing and new home sales and leasing firm based in Manhattan, has formed a strategic alliance with Beverly Hills, CA-based KW Builder Marketing Services Group, a division of international real estate investment and services firm Kennedy Wilson (NYSE: KW).

Adrienne Albert, founder and CEO of The Marketing Directors

Adrienne Albert, founder and CEO of The Marketing Directors, and Rhett Winchell, President of KW Builder Marketing Services, formed this alliance to utilize each firm’s experience, expertise and services to provide a wide-ranging sales management and marketing platform for residential real estate developers west of the Mississippi.

The alliance will offer a full complement of services, including: sales management, marketing and promotional management, market positioning, product development and market evaluation research and analysis.

“This is an exciting new relationship between two firms with complementary areas of expertise,” notes Ms. Albert, whose company specializes in marketing and selling residential product throughout the New York Metropolitan area and other parts of the U.S. and Canada.   “With Kennedy Wilson’s considerable financial strength, global reach and talented professionals, and our depth of capabilities honed over 30 years of marketing and selling residential properties through an analytical approach and a unique methodology, we’ll be able to provide a level of expertise to home builders in the western market that will have a profound impact on their business goals and strategies.”

Rhett Winchell, President of KW Builder Marketing Services

The new alliance will expand the quality and quantity of services and professionals available to execute comprehensive programs for clients.  The two firms will jointly manage sites, with The Marketing Directors utilizing its proven in-house systems to focus on sales training and customized marketing and sales solutions, and KW Builder Marketing Services employing its local expertise, full line of capabilities and team of high-energy onsite professionals.

“The Marketing Directors has earned a stellar reputation in the industry for executing successful programs at the highest levels in the biggest markets,” notes KW Builder Marketing Services’ Rhett Winchell.  “By leveraging each firm’s expertise, resources and talent pool, we’ll be able to offer high-quality client service unprecedented in the western United States marketplace.”

The new effort is being launched by two industry veterans with successful track records and considerable recognition among their peers.

Adrienne Albert has been personally responsible for the marketing and sales of more than $29 billion in properties.  She was recently inducted into the Hall of Fame of the National Association of Home Builders’ (NAHB) National Sales and Marketing Council (NSMC), and was inducted as a “Legend of Residential Marketing,” the first woman to receive the distinction in the award’s 16-year existence.  Additional accolades include “Woman of the Year” honors in 1998 and 2001 and the Emma Lazarus Award in 1996 and 1999 from the Associated Builders and Owners of Greater New York, and National Sales and Marketing Council “Marketing Director of the Year” in 1985.  She is a member of Urban Land Institute (ULI), Institute of Residential Marketing (MIRM), the Real Estate Board of New York (REBNY), the Association of Real Estate Women (AREW), and the National Sales and Marketing Council of the National Association of Homebuilders (NSMC).  Her company’s renowned team of marketing and sales professionals regularly wins prominent regional and national awards, while the International Division recently signed with Barnes International, a well-respected and successful brokerage organization serving Europeans’ off-shore needs.

Rhett Winchell appointed Tom Vetter as Executive Vice President of KW Builder Marketing Services’ Group. Mr. Vetter holds CSP, CMP, MCSP and MIRM designations and is the

Tom Vetter as Executive Vice President of KW Builder Marketing Services’ Group

2012-2013 Chairman of the Board of Trustees for the National Sales and Marketing Council of the National Association of Home Builders (NAHB).  Mr. Vetter is also a builder member of NAHB and is a member of the 2012-2013 NAHB Executive Board of Directors.  Tom is a senior instructor of the Institute of Residential Marketing.

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About The Marketing Directors

 

The Marketing Directors is a full-service marketing and sales/rental organization specializing in new homes and recognized as a national leader in high density residential development across the United States and Canada.  The company is led by founder Adrienne Albert.  Jacqueline Urgo leads the NE operation. David Tufts leads The Marketing Directors, SE, formed in 2007.  Michael Budovitch leads The Marketing Directors Canada.  For more information on The Marketing Directors, call 212-826-8822 or visit www.themarketingdirectorsinc.com.

 

Want to know what’s happening in residential real estate in New York? Check out our Market Watch.

Get Ready to Rock – The Housing Industry is back!

Hear The Marketing Directors, Inc. CEO Adrienne Albert and KW Builder Marketing Services Group’s Tom Vetter discuss the housing market recovery, the two most pressing issues builders and developers face today, and how their new joint venture will help resolve those issues.

CLICK TO LISTEN >>>

Big demand for small Manhattan rentals

via By Leigh Kamping-Carder/ The Real Deal

 

Price hikes for studios and one-bedrooms outpace larger apartments

New York City is famous for its cramped — and pricey — living spaces.

That’s truer than ever this summer, with the busy rental market continuing its frenzied pace. But tenants looking for smaller units are feeling the worst of the pain, as rent increases for studios and one-bedrooms outpace the market overall, according to a Prudential Douglas Elliman quarterly market report released last month.

In fact, in the second quarter of 2012, rents for these small homes were at their highest levels in at least four years, according to appraiser Jonathan Miller, who prepared the Elliman report.

{SNIP}

“There is new rental product coming into the marketplace all the time,” said Adrienne Albert, CEO of the Marketing Directors, which is currently marketing the Crescent Club, a 130-unit Long Island City rental tower. But, she said, it’s “not at a level that would significantly influence pricing.”

FULL ARTICLE >>>

Superiority complex

Jersey City, with all of its new apartments and luxe amenities, ‘has become a destination in its own right’

by MAX GROSS/ New York Post

One of the best amenities (among many) that Nicole Daw can point to at the massive Newport development in Jersey City is the elephants.

“That’s where we meet a lot of people,” says Daw, who takes her 19-month-old daughter, Kylie, to the elephants when she and her husband Michael are looking for an easy bit of entertainment and a chance to chat with other parents.

To be clear, there aren’t real elephants in Newport, a complex with 12 luxury rental towers and one condo building that are home to about 15,000 people. Rather, these are metal sculptures of elephants in front of the Morton Williams grocery store that spit water out of their trunks, which everyone gets a kick out of.

“The kids splash around,” Daw says. Perfect for a summer day. And when the weather turns cold, “they take the elephants over to the side” and install a layer of ice for skating.

“It’s $3.50 to skate, unlimited,” Daw says. “When [the rest of] my family heard that, they said, ‘$3.50? — we’re moving here.’ ”

Of course, elephants are just one small part of life in Newport. With any development that brings in this many residents, there has to be more: Grocers (like the Morton Williams). Drugstores. (There’s a Duane Reade on River Drive South, the strip running through the heart of the complex.) Gyms. (There’s a swimming and fitness center.) Shopping. (The Newport Centre Mall and the Newport River Market have a Modell’s, Staples, Macy’s and JCPenney, to name just a few, and include more than 1 million square feet of retail space.) Entertainment. (A 12-screen AMC movie theater is also in Newport Centre. And Newport has a new 4¹/‚„ -acre park.)

This is not just a place to take shelter, but a way of life — one could make that argument, at least.

For a long time, the appeal of Jersey City was that it was a quick PATH ride to Manhattan. For some residents, obviously, this is still a big part of the draw. “Proximity is still an incredibly important component” of how Jersey City sells itself, says Adrienne Albert, CEO of the Marketing Directors, which sold out the units at another megacomplex, Crystal Point, last fall. “Now it’s a place that has become a destination in its own right.”

AMEN FOR AMENITIES: Robert Lewicki and his girlfriend, Maureen Falvey, bought a 1,600-square-foot three-bedroom in the new, glassy Crystal Point development, which has enough amenities (billiards anyone?) to keep them, their 2-year-old daughter, Charlotte, and their dog, Dylan, quite content.

“Newport is like a small town in itself,” says Nancy Spil, who came to Jersey City from Seattle with her husband and took a 1,330-square-foot apartment in AquaBlu, one of Newport’s rental buildings. “There’s a Target and there’s a Best Buy [nearby]. And it’s easier to walk than drive. By the time I get out my car and drive over there, I could have walked.”

A lot of people who wind up renting or buying in one of the megadevelopments on the other side of the water are OK with not having Manhattan much in their lives.

“Once a week I’ll go over to get my fix,” Spil says. “But I have everything I need here.”

“I had never been to Jersey City in my life,” says Robert Lewicki, who was living in Battery Park City before he and his girlfriend, Maureen Falvey, and their 2-year-old daughter, Charlotte, came to look at one of the 262 units at the 42-story Crystal Point building after scouting homes in Lower Manhattan, Brooklyn and Long Island City. Their view of Manhattan was unlike any either of them had seen. “It took our breath away. It’s like being on a houseboat,” Lewicki says.

Lewicki and Falvey bought a 1,600-square-foot, three-bedroom, 2 1/2-bathroom condo. While Falvey still works in Manhattan and makes the commute every day, Lewicki, a retired federal worker, has decided to spend his days fishing for striped bass off the local pier, or taking their toddler to the park.

“There’s a lot of parties in the building,” Falvey says. “It’s a lot friendlier than in the city. Some buildings in the city I lived in for 10 years, and didn’t speak to any of my neighbors. Here, everybody is looking to make connections.”

Indeed, plenty of people are willing to pay high prices to live in these complexes. While a brand-new apartment in Jersey City is almost certainly cheaper than one in Manhattan, prices have consistently ticked up, and vacancies have gone down.

“The average one-bedroom starts at $2,350 to $2,400 [per month],” says Mario Gaztambide, vice president of residential asset management at the LeFrak Organization, Newport’s developer. “Studios average between $1,950 to $2,100. Two-bedrooms from $3,000 to $3,400, on average. There are some three-bedrooms — they’re starting at $3,200.”

“On a dollar-per-square-foot basis, it’s about $400 to $500 per square foot and up to buy,” Albert says of condos overall in Jersey City. (And it’s more along the water. Albert can boast that Crystal Point sold out at a healthier $683 per square foot.)

“To rent, you’re probably looking somewhere in the $30-per-square-foot range [per year]. Like $37, $38 per square foot,” Albert says. That can means upwards of $3,000 a month for 1,000 square feet.

But those who live there aren’t complaining.

“I got sick of spending $600 a month to park my car,” Lewicki says of living in Battery Park City. “I got sick of paying $6 for a box of cereal. I got sick of the crowds. I’ll tell you, it was a good move in many respects. No regrets at all.”

READ MORE AT THE NY POST >>>

FISHER DEVELOPMENT ASSOCIATES COMPLETES SELL-OUT OF CRYSTAL POINT IN JERSEY CITY

 

JERSEY CITY, N J — Fisher Development has completed the sell-out of Crystal Point, a residential building rising 42 stories in downtown Jersey City directly facing Manhattan. The building’s 269 upscale condominium homes have been sold just three years after its debut to the public in 2009.

“It’s no secret New York City views have always played a role in the rise of downtown Jersey City as a residential destination,” said Brian Fisher, principal of the firm that bears his name, “and this building offered some of the most amazing views not only in Jersey City, but along the entire New Jersey ‘Gold Coast.’ It was a no brainer in terms of location.”

“We had a vision for Crystal Point,” said Fisher. “The primary goal was to create a building that would meet the City’s guidelines for the continued redevelopment of its downtown urban waterfront and kept the needs of the com-munity-at-large in mind.

“From a consumer standpoint, we understood the state of the real estate market in 2009. To conform to market needs, we wanted to introduce a world-class high-rise that provided the same level of luxury and exclusivity sophisticated homebuyers were accustom to at the height of the real estate boom, but at competitive prices that would offer clear value.”

The Marketing Directors, Inc. was brought on board from the onset to direct the sales and marketing program.

We knew we had several important factors on our side, none more important than a developer with a sterling reputation, personal approach to customer satisfaction and long history of responsible development,” says Adrienne Albert, CEO of The Marketing Directors, Inc.

YOUNG COUPLE RETURNS TO NEW JERSEY AND STARTS FRESH AT THE VUE IN DOWNTOWN NEW BRUNSWICK

The Vue lounge

NEW BRUNSWICK, N.J. – Naresh Tanna and Dr. Renuka Ati Tanna were recently married and ready for a fresh start on life. The couple, who had been living in Boston, wanted to return to their roots in New Jersey where they were both raised and attended Rutgers University.

One of their first goals upon returning to the Garden State would involve their first major purchase as husband and wife — buying a new home.

“When we decided to come back home to New Jersey, we were not considering renting an apartment and had a good idea of the type of residence we wanted to purchase,” says Mr. Tanna. “With no children yet, we wanted to own a home in an active, urban downtown environment and decided to look at places in Middlesex County Cities.”

The Tannas search ended as quickly as it started, however, when they visited The Vue, the striking new 23-story mixed-use building in downtown New Brunswick featuring 150 luxury rental homes and 42 Penthouse condominiums.

“I was driving down Somerset Street one day, saw The Vue, and decided to call the phone number,” Mr. Tanna recalls. “It ended up being the only building we would visit.”

The Vue had everything the Tannas were looking for in a new home. Its location in the heart of downtown New Brunswick provided quick access to the many shops, restaurants and entertainment that define this dynamic city, and its proximity just steps from the New Brunswick Train Station offered a quick trip to the business and cultural delights of New York City.

“Having the New Brunswick train so close was certainly a major factor,” Mr. Tanna says. “The urban lifestyle at The Vue is enhanced by having New York City just a short train ride away. I often commute to Manhattan for work, so it’s definitely convenient to have efficient train service within easy reach.”

While the location of The Vue played a large role in their decision to purchase, the homes and the building itself also fit all the criteria the Tannas had laid out.

“We loved the open concept of the home, with the kitchen and family rooms flowing together,” Mr. Tanna points out. “The bathrooms are enormous and you simply can’t beat the views. Add in the amenities, including the lounge which is ideal when working from home, and The Vue was a perfect fit.”

The Tannas join an ever-growing list of residents who are choosing The Vue for their new home. 40% of the building’s upscale Penthouse condominiums have been sold and 70% of its luxury rental residences have been leased, according to the New Brunswick Development Corporation (DEVCO) and Pennrose Properties, which developed The Vue and retained The Marketing Directors, Inc. as the building’s exclusive sales, leasing and marketing agent.

In addition to the sales and leasing success, several key milestones have been reached on the development front at The Vue. They include the recent completion of the expansive, landscaped pedestrian walkway connecting The Vue to the westbound train platform of the Northeast Corridor Line at the New Brunswick Train station which is now open to the public. In addition, this summer/fall will mark the opening of the Barnes & Noble Bookstore located at street level within The Vue and the Fresh Grocer supermarket situated across the street.

Residents are already enjoying all that The Vue has to offer, including spacious homes with upscale finishes and appointments, an impressive amenity offering, direct walkway access to the New Brunswick Train Station and a desirable location in the heart of downtown New Brunswick.

The tallest building in the City of New Brunswick, The Vue is ideally situated on Somerset Street and Easton Avenue. In addition to the residences, the building will house 57,000 square-feet of retail space in its first two stories, including a full-scale Barnes & Noble bookstore and a Brother Jimmy’s BBQ restaurant, as well as a 657-space parking garage. The Vue is also located next to Rutgers University and is a short walk to all the entertainment and cultural attractions of New Brunswick.

One- and two-bedroom condominium homes at The Vue range in size from 773 to 1,216 square feet of living space and are currently priced from $318,000. The Vue also offers a mix of one- and two-bedroom rental homes with myriad upscale features. Monthly rents for these residences start at $2,095.

“Resort-like amenities include an attended, custom designed lobby; fully-equipped fitness center and residents-only lounge featuring a billiards table, flat screen televisions, WiFi business bar and a catering kitchen and conference room,” notes Jacqueline Urgo, President of The Marketing Directors, Inc. “The Vue has also partnered with Verizon’s Virtual Concierge service to provide residents with additional services such as dining and building event reservations, and the ability to manage local venders (i.e. dry cleaner, florist, housekeeping service, etc.) remotely.

For additional information on The Vue, please call 732-828-0111 or visit www.TheVueNJ.com. The building is located at 110 Somerset Street, New Brunswick, NJ. The onsite sales and leasing office is open Monday thru Friday from 10:00am to 6:00pm and Saturday and Sunday from 11:00am to 6:00pm. Furnished model residences are available for viewing.

 

THE MARKETING DIRECTORS TAKES HOME “SALES TEAM OF THE YEAR” FOR CRYSTAL POINT AT THE 2012 NJ SAM AWARDS

CRYSTAL POINT

NEW YORK, N.Y. –- The Marketing Directors Inc.’s dynamic group of sales professionals at Crystal Point earned the prestigious Sales Team of The Year award for the second consecutive year during the 2012 Sales and Marketing Awards held recently in Atlantic City.

The on-site team of Grace McCadden, Alyssa Brennan and Danielle Rosania were recognized for their outstanding efforts which have led to the sale of more than 90% of the downtown Jersey City building’s 269 condominium residences. The 42-story building located directly on the Hudson River waterfront is being developed by Fisher Development Associates.

“This award is a well-earned tribute to the hard work and dedication the entire team of The Marketing Directors Inc., has put forth to make Crystal Point one of the most successful selling hi-rise condominiums in the market today,” says Brian Fisher, a principal of Fisher Development.

“The sales professionals at Crystal Point have proven to be among the very best in the industry, placing this building on the verge of a near sell-out in remarkable fashion,” added Adrienne Albert, Founder and CEO of The Marketing Directors, which specializes in the marketing and sales/leasing of new-construction, high-end residential real estate developments throughout the country. “We’re extremely proud of their accomplishments and pleased a panel of our peers recognized their incredible success.”

Sponsored by the New Jersey Builder’s Association, the SAM Awards annually recognizes the year’s most creative and successful residential programs within New Jersey. This year’s event, the 25th installment, was held at the Trump Taj Mahal Casino and Resort in Atlantic City and kicked off the New Jersey Builder’s Association’s 63rd annual Atlantic Builders Convention.

Homes at Crystal Point range from 800 to 1,586 square-feet and offer an array of premium finishes. Residents also benefit from an on-site concierge and round the clock on-site valet parking. Homes are made even more attractive thanks to a 30-year tax abatement that has been granted to the building.

Created by the renowned New York City architectural firm Gruzen Samton LLP, the distinctive design of the landmark Crystal Point building maximizes its unrivaled waterfront location and creates homes with modern, open and furnishable living areas.

The lifestyle that separates Crystal Point can be seen in its Manhattan-style amenities. Outside, residents enjoy an expansive outdoor deck of over ten thousand square feet overlooking the Hudson River on the building’s sixth-floor, featuring a sparkling pool, giant hot tub, cabana style dining areas, and lounge chair seating, as well as two BBQs and dining area, fire pit and a children’s play area.

Indoors, there’s five-star amenities including the Crystal Spa with a thermal bath, sauna, steam and treatment rooms, a yoga/aerobics room, state-of-the-art fitness center, lounge with flat screen televisions, game room with billiard and poker tables, children’s play room and a screening room within the Crystal Club.

For additional information on Crystal Point, please call 201-433-7778 or visit www.crystalpointcondos.com.

About The Marketing Directors

The Marketing Directors is a full-service marketing and sales/rental organization specializing in new homes and recognized as a national leader in high density residential development serving many of the industry’s most prominent developers across the United States and Canada since 1980. The company is led by founder Adrienne Albert, who was inducted into the National Sales and Marketing Council of the National Association of Home Builders (NAHB) Hall of Fame as a Legend of Residential Marketing in 2009 — the first woman to be inducted into the “Hall” in its 16-year history. Jacqueline Urgo leads the NE operation. David Tufts leads The Marketing Directors, SE formed in 2007. The Marketing Directors presently represents condominium and rental developers in markets such as New York, New Jersey, Connecticut, Georgia, Florida, North Carolina and Toronto. For more information, call 212-826-8822 or visit www.themarketingdirectorsinc.com.

 

OWNING TRUMPING LEASING

Rising rents, cheap mortgages ignite sales of small apartments.

 By AMANDA FUNG/Crains

Last week, Michelle Lynn and her husband went into contract on a $360,000 alcove studio apartment on East 57th Street, near the river. The couple, who live upstate, had originally planned to rent a place in town as they did years ago, but when they started looking late last year, they couldn’t find anything in their price range.

“We were shocked at how high rents are,” said Ms. Lynn. “This is our first purchase in the city, but it’s a good place to park our money.”

What’s more, rock-bottom interest rates will keep the couple’s monthly payments, including common charges, under their $1,800-a-month target, she said.

In fact, with rents in the city again approaching record heights, and mortgage rates at near-record lows, an increasing number of first-time homebuyers in New York are deciding that it would be cheaper—and smarter—to own rather than rent. Signs of that shift are showing up in a surprising spike in sales across the city of so-called entry-level apartments—studios and one-bedrooms—whose buyers are typically more price-sensitive.

Fanning the flames of the buying surge is a growing confidence that after years of falling, home values have at last bottomed out. Additionally, people are feeling more secure about their jobs, as positive economic news is starting to surface.

SECOND SPRINGTIME: Sales of small units at Apex condos in Harlem have perked up.

“Entry-level buyers are now making a commitment,” said Adrienne Albert, chief executive of The Marketing Directors, a residential sales firm. “Confidence has returned to the marketplace.”

The surge in sales of starter units actually began last year and has now carried to the point where as of the end of the first quarter of this year, they accounted for 56.2% of all closed sale transactions. That figure is well above the 10-year quarterly average of 50.9%, according to a report by Prudential Douglas Elliman and Miller Samuel Inc. It is also the largest market share for such units since the fourth quarter of 2009, when the first-time homebuyer tax credit artificially boosted such sales.

 It’s in the cards

With the arrival of spring, the busiest time of year for the market, sales are expected to continue to heat up. Contract signings for entry-level apartments during the first three months of the year, a precursor to closings on such units in the second quarter, are also up strongly. From January through March, 344 studios and 973 one-bedrooms in Manhattan went into contract, up 19% and 11.6%, respectively, from the same time a year ago, according to StreetEasy.com.

Rising rents, fueled by high demand and tight supply, are driving much of the activity. In fact, a recent report by brokerage Citi Habitats showed average Manhattan rents in February at $3,376, just $18 shy of the market’s peak, set in May 2007.

“The rental market is helping us because people don’t want to throw money away,” said Shlomi Reuveni, senior managing director at Brown Harris Stevens Select. “They would rather buy and have equity in their home.”

As a result, studios and one-bedrooms across the city are being snatched up at a rapid clip, even at buildings that are still under construction. At the 37-unit 422W20 in Chelsea, where about a quarter of the units are one-bedrooms starting at $650,000, only one such unit is still available, even though the building launched sales at the end of March.

“We had some first-time homebuyers, empty-nesters, families and even international buyers,” said James Lansill, a senior managing director at Corcoran Sunshine Marketing Group, which is handling sales at the building. So far, 62% of the units at 422W20 are in contract even though construction won’t be done until this summer. Sales of starter apartments at buildings that have lingered on the market for months are also suddenly picking up. At the 44-unit Apex Condominiums in Harlem, where The Marketing Directors began selling 14 months ago, larger units were moving first, according to Martin Brady, the firm’s vice president of sales. “We were concerned at one point, but things have turned around,” he said, adding that during the weekend of March 31, he received four offers on one-bedroom units and one on a studio. He said he expects to sell out by summer. The building is currently 75% sold or in contract.

Bidding wars

“It’s amazing how many apartments are being purchased,” said Michele Portnof, a broker at Charles Rutenberg Realty, who represented Ms. Lynn in her deal.

Even unattractive starter apartments are getting scooped up. A 200-square-foot ground-floor studio on West 70th Street in Lincoln Square went into contract for $235,000, 20% over asking, said Jessica Cohen, a broker at Prudential Douglas Elliman, who represented the seller. To her surprise, it received nine offers, half of which were over the asking price. It was tiny, but a steal: With a $330 monthly maintenance fee, the new owner would be paying roughly $1,350 a month, including a mortgage, she said.

“You can’t get a studio that size anymore in the neighborhood for that price,” added Ms. Cohen.

MIDTOWN’S IRISH ELITE

The Centria Photo: Sean Perry/NYT

The Marketing Directors’ Adrienne Albert  quoted in a feature story on the Centria and foreign investment in New York City real estate in this week’s New York Times Magazine Click to read >>>>