Spring, when a magazine's heart (and editorial calendar) turns to real estate. This week, we've got twin real estate covers on Time Out New York and New York staring back at us from newsstands, TONY with an emphasis on rentals (cf, tips on how to lower your rent!), NYMag with plenty for buyers (a first-time homebuyer's guide!). After reading it all, we've gathered up our favorite anecdotes and quotes from within; check them out after the jump.
Absurd Unsubstantiated Anecdote
Over the last few months, brokers have been passing around an anecdote—a ghost story, really—that I’ve heard in several different variations. A cash-rich buyer looks at a property and offers 50 percent off the asking price. Later, it turns out he did the same thing at ten other properties, and—here comes the crucial part—one of the sellers actually bit. Though identifying details are hard to come by, because brokers don’t want to give anyone ideas, many say they’ve seen it happen. [NYMag]
Obligatory Open House Anecdote
TONY: On a recent Sunday, prospective homeowners attending an open house at the Forté, a 30-story, 108-unit condo in Fort Greene, were treated to a special offer. No, not lowered rent or gratis child care, but free food. “Would you like a mimosa?” asked Ailene Quinlan of the Developers Group (TDG). She pointed visitors to bagels, chocolate-cheesecake muffins and assorted salads adorned with tomato rosettes. As Elan Padeh, TDG’s president, explains, “It’s like the old saying: The way to the heart is through the stomach.” [TONY]
Obligatory Amazing Deal!
Take Wayne Isaak, a consultant and producer who works in the entertainment industry. He sold his apartment in Soho in the summer of 2006, near the height of the market, and moved with his family into a rental in Boerum Hill. For two years, he aggressively trolled the market, working with multiple brokers. After making offers on several properties, none of which were accepted, he came across a brick townhouse in Cobble Hill that had been put up for an estate sale. Last September, the townhouse was listed at almost $1.7 million. Isaak got it for $1.1 million, more than a third off the asking price. [NYMag]
Dept. of Odd Advice
She showed me a listing for a one-bedroom in Chelsea. “This place is where the guy said, ‘Make an offer that’s where you think the market could be a year from now,’?” Deirdre said. She’s still trying to puzzle out that instruction. [NYMag]
Inwood Backlash Watch
"You're not going to find a lot of nightlife up here," says [MyInwood.com's Cole] Thompson. "And it’s a lot of time on the subway." [TONY]
· The Opportunist's Guide to Real Estate [NYMag]
· Real Estate 2009 [TONY]