The Corcoran Group Inc.

The only real estate investor who flips vintage local properties outfitted with, say, reflecting ponds and bamboo walls, but who also flips massive thickets of self-storage spaces, and has been called “dreamy” by Gawker, is Adam Gordon. “I told my wife that before we were married,” he said this week about the blog’s compliment. “It may have closed the deal.”

They met when he opposed her application for a restaurant on Bond Street: “She got a much a better location, which turned out to be Double Crown,” the new colonialism-inspired eatery on the Bowery that just got two stars from Frank Bruni.  read more »

"We are dealing with a much different market than the same time as last year,” said John Parsegian, a senior vice president at Halstead Property who specializes in the luxury rental market.

Indeed. As rental market reports heap seemingly endless piles of bad news on an already jittery industry, it’s becoming clear that the economic woes of the past several months are going to affect every segment of what was, not all that long ago, a resilient and unstoppable Manhattan rental market.

The very nature of this financial crisis, with its origins in the well-heeled corridors of Wall Street investment banks, is likely to drive down rents across the board, but particularly in the ritzy doorman palaces around Central Park and other highly sought-after neighborhoods throughout Manhattan.  read more »

Anxiety has slowly crept into the normally high-chinned little world of Manhattan luxury real estate, though that doesn’t mean the very rich trying to unload very expensive New York apartments are actually getting desperate to sell. But maybe desperation is around the corner.

Consider Ramesh Singh, an executive at the huge Swiss-based bank UBS, who now has two huge Park Avenue apartments on the market—both listed at enormous discounts.

He’s spent years as the global head of mortgage-backed securities, the financial instrument that has more or less strangled the economy. Last month, after serious mortgage-related losses, UBS agreed to a multibillion-dollar government bailout.  read more »

“We were admiring your security cameras,” a man in a paint-splattered Ralph Lauren polo shirt said last Sunday afternoon, standing next to his wife outside of 11 Spring Street. “We need some for our building.” He was talking to Caroline Cummings, the 27-year-old who bought 11 Spring from Rupert Murdoch’s elder son, Lachlan, exactly two years ago for $12 million.

Back then the gargantuan 19th-century brick building, once horse stables, was drenched in graffiti, among other things, although the facade’s huge street art was so beloved that Ms. Cummings helped put on an art show before pressure-hosing the walls as renovations began.  read more »

The Real Estate got the above invite on Wednesday morning. It's for a three-day broker party marking the grand opening of the condos at 100 West 18th Street. Tuesday night's for the Corcoran Group; Wednesday's for Prudential Douglas Elliman; and Thursday's for sister firms Brown Harris Stevens and Halstead.

Keep them apart, people! Brokers can get quite ravenous.

- Tom Acitelli

When is a luxury condo not a luxury condo?    read more »

Syndicate Public Relations, Dec. 20, La Esquina, 203 Lafayette Street    read more »

We reported last week that the Real Estate Board of New York will be starting early next year its own searchable Web database for residential listings.

Of course, the cost to the dear consumer is zero. But if REBNY's more than 300 member residential brokerages want their listings included in the new database, the price won't be so small.

According to one source, bigger firms will be charged $7,500 annually, while the little folks will pay $3,500. We called Warburg Realty Partnership president (and REBNY board member) Fred Peters for confirmation.

"That was certainly a proposal that was being kicked around," he said, "but it was one of a number."

Did mom-and-pop brokerages find the proposal unfair? (After all, the city's mega-conglomerates like the Corcoran Group and Prudential Douglas Elliman can afford much, much higher fees.) "No doubt there were people who thought that it was too much, and no doubt there were people who thought that wasn't enough."

Self-described "one-man show" Basil Ashmore is in the former REBNY camp. "I'm one person. If you look at Corcoran and Douglas Elliman, they have a thousand [brokers, at least]. So I think it's unfair I should pay 50% of their fee." (He remembered the currently proposed numbers as $3,500 and $7,000.)

"I suspect the proposal will change," he said. "But how much closer to fair it will be at the end of day, I'm not sure."

Back to Warburg prez Mr. Peters: "I like to make a joke as a broker: you know you've successfully made a deal when every side is equally unhappy. That's the point we're trying to negotiate toward: the point of equal unhappiness."

- Max Abelson

Today, NRT Incorporated, parent company of the Corcoran Group, purchased Allan M. Schneider Associates, Inc, as reported in the Real Deal.

Founded by the late Allan M. Schneider, the firm has been a staple of the Hamptons luxury real estate market for decades. And Mr. Schneider featured prominently in Philistines At The Hedgerow, Steven Gaines' gossipy look at "passion and property in the Hamptons."

Now, the company's 12 offices will operate under the Corcoran Group banner.

More details to come later on. The full release is after the jump.  read more »

Holy Moses! Apparently not too bored with the U.S.A., actress Gwyneth Paltrow, and her sensitive rocker husband, Chris Martin, are buying in the Hamptons, according to the New York Post.

The five-bedroom, Traditional home includes ocean views, a pool and guest quarters. Unfortunately, there's no mention of a price. However, The Post drops a juicy hint.

Her broker, Gene Stilwell of The Corcoran Group, would not comment on the transaction, but he does have a listing that looks remarkably similar in description.

So does Mr. Stilwell have any listings that match up? Well, there is a five-bedroom, Traditional home in Amagansett. The price: $6.5 million.  read more »

- Michael Calderone

Last month, The New York Times reported that movie mogul Harvey Weinstein had bought a West Village  read more »

Media scion Lachlan Murdoch has now found a buyer for his (unfinished) $14.75 residence in Nolita, according to the Corcoran Group website. Corcoran broker Brooks Nicholson confirmed that a contract was signed on June 29th for the five-story, brick building at 11 Spring Street, but could not discuss the sale price.

Back in Sept. 2003, Mr. Lachlan dropped $5.25 million on 14,000-square-foot building that served as a horse stable in the late 19th century. However, Mr. Murdoch's plans for extensive renovations were never fulfilled--especially since his public split with Rupert, and subsequent flight back to Australia.

As Mr. Murdoch told The West Australian newspaper last May:

"We were going to build what would have been the best family home in New York City," Murdoch said. "And yet we'd much prefer to raise our family in Sydney. We've been here some months now and we couldn't be happier with the decision. It is hard (to sell) and we are in no rush. But it's on the market and we're not moving back to New York."

Both Deborah Grubman and Carol Cohen, of the Corcoran Group, also have the listing with Mr. Nicholson. Ms. Grubman--who is also Rupert's broker--could not be immediately reached for comment.  read more »

- Michael Calderone

After double digit increases following the 2nd Quarter of 2005, there were headlines forecasting an immediate real estate collapse. And while that hasn't happened, the relatively small increases or decreases --depending on which market report you're looking at--show a more stable, if not cooling, market.

Today, three major brokerages released their market reports. Similar to last quarter, the results differ here and there. In both the Corcoran Group and Brown Harris Stevens reports, the average sales price for all Manhattan apartments (both condos and co-ops) dropped 5 percent. However, the Prudential Douglas Elliman report--prepared by Miller Samuel--showed an increase of 6.6 percent. And in that report, the average apartment has hit a new record price: $1.386 million.  read more »

But one significant area of concern could be the increased inventory of condos.

A few weeks ago, Harry Belafonte told The Observer that he needed to "pare down" his life--and had become even more eager to sell his 21-room, West End Avenue co-op (which first listed for $15 million).

After the Corcoran Group grabbed the listing from Prudential Douglas Elliman, the price dropped to $11.75 million. But now there's another choice for wealthy buyers: you can buy half of it for either $6.1 or $5.65 million.  read more »

Considering that the full-floor spread was originally two units, the split makes sense. However, the $11.75 million price still exists for the buyer that wants both the A and B lines together--to live as the Belafonte family (and friends) did for the past 46 years.

- Michael Calderone

When Donald Trump completed his sprawling luxury development near Riverside Park, a few celebrity bu  read more »

Television journalist Stone Phillips has just slashed $1 million off the asking price for his West 72nd Street penthouse, according to the New York Post. The Dateline NBC anchor is now asking $4.45 million for the apartment, listed with the Corcoran Group. And good news: there's an open house this weekend!

Also, (we refuse to write "babe-loving") billionaire Ron Burkle has been seen looking for a full-floor pad in Tribeca. But didn't that whole Jared Paul Stern mess take place in a Tribeca apartment that Mr. Burkle renting at the time? Why not try another neighborhood?  read more »

And is the Forward Building--which The Observer recently profiled--now the "Dakota of the Lower East Side?" The Post emphatically says no!

- Michael Calderone

Come see Wilmer! Click to enlarge.

A few months ago, uber-broker Michael Shvo brought Grammy winner John Legend to impress some would-be buyers at 20 Pine: The Collection.

Now, Corcoran Group Marketing is answering back with That 70's Show star and on-again-off-again boyfriend of Lindsay Lohan, Wilmer Valderrama. (For added star power, Lizzie Grubman is mentioned twice on the invite.)  read more »

So if you can't find Mr. Valderrama behind the velvet rope of some meat-packing district club, better try the opening of luxury condominium on Hudson Street.

- Michael Calderone

If few luxury buyers are willing to go much further north than 96th Street, one of their favorite bu  read more »

Marketing guru Louise Sunshine is deservedly one of the biggest names in residential real estate. But last year, Ms. Sunshine stepped down from the head of the company she founded, leaving some pretty big shoes to fill.

Now, there's a couple more executive changes over at the Corcoran Sunshine Marketing Group, reports the New York Post.

Kelly Kennedy Mack was named division president, a newly created position and Tricia Hayes Cole became chief operating officer of the developmental marketing arm of residential real estate giant Corcoran Group. The move comes following speculation that Sunshine...was being further eased out of her role as the driving force behind the marketing division.

Hopefully, these new hires will last longer than former C.O.O. Jeff Yamaguchi, who came aboard last summer after Ms. Sunshine stepped down. His brief tenure was over by the end of the year.

- Michael Calderone

This listing popped up at New York University:

Freelance writer for The Corcoran Group. Location: New York NY ---------------------------------------------------------------------- Looking for an NYU journalism student to be a freelance writer to create a letter and/or mailing for real estate marketing purposes. Writer will have to research the real estate market, write an average of approximately 400-600 words and design a mailing with a real estate broker. Mailing will be sent out to attract clients and customers. QUALIFICATIONS: We need an innovative writer who can create an eye-catching and interesting mailing. Basic computer application skills a plus for designing the mailing. PAY: $200 for each letter/mailing.

- Riva Froymovich

It's been almost impossible to escape the Corcoran Group's rebranding effort, that began on the Internet and spread throughout the city. The new ad campaign appears in magazines, at bus stops, and on billboards. Photoserve.com takes a look at how the brokerage tapped photographer Tina Barney--who rarely does commercial work--for the campaign.

And also how it reflects the post-Barbara Corcoran transition.  read more »

"I really wanted all the photography to be original.," says [Christina Lowris, VP, marketing and advertising]. "In the past we've used stock images for our advertising --and then I've seen them later in some hotel magazines. This is a whole new branding exercise for us as Barbara [Corcoran] has sold the company and the advertising and the photography we use is reflecting that."

- Michael Calderone

MarketWatch is reporting that today's filings, Cendant--the real-estate and travel conglomerate that owns, besides everything else, The Corcoran Group--disclosed the $12.3 million bonus they've just approved for C.E.O. Henry Silverman for performance in 2005.

A lot of dough! But not as much as last year.

For 2004, Silverman got a $15.3-million bonus, according to the company's most recent annual proxy. The year before that, he received a $13.8-million bonus.

So what gives?

On Monday, Cendant reported 2005 net income slipped 35.6% to $1.34 billion, or $1.26 a share, despite higher revenue.

- Tom McGeveran

In 2005, any slight change in the real-estate market was typically greeted with an ominous headline  read more »

Now that Christine Quinn has been officially sworn in to head the City Council, outgoing speaker Gifford Miller might be spending a bit more time around the house, plotting his next political move.

So why not join him?

A two-bedroom, two-bath duplex is available in Miller’s 82nd Street co-op. The apartment came on the market in the end of June at $1.2 million, listed with Gina Serman of the Corcoran Group. The price was increased slightly a month later.

Spend cold winter nights by the woodburning fireplace, cramming for your Fordham Law exams. And grill burgers all summer in the 500-square-foot backyard.  read more »

-Michael Calderone UPDATE: Sometime after 2pm, this listing vanished from the broker's homepage under properties for sale. It is now showing up as "rented." So perhaps Giff has a new neighbor after all.

While murmurs of a downturn contort brokers’ usually plasticene enthusiasm for the state of th  read more »

While murmurs of a downturn contort brokers’ usually plasticene enthusiasm for the state of the re  read more »

The big tree in Rockefeller Center is lit, and so too on these December nights are your co-workers,  read more »

Just a few days after Barbara's big going away party, Cendant Corp. announced it it is splitting the company into four parts. Shares fell nearly 5 percent since word got out this morning.

The company's real-estate division, NRT, bought the Corcoran Group in 2001 for $70 million. It recently combined it with the Sunshine Group, which had been purchased 15 years earlier. The real estate powerhouse also owns Century 21, Coldwell Banker, and ERA.  read more »

-Michael Calderone

July 4, 2005 12:02 p.m. 9 pounds, 8 ounces New York Methodist Hospital    read more »

July 4, 200512:02 p.m.

9 pounds, 8 ounces  read more »

New York Methodist Hospital

Donald Trump is selling his 117-room Palm Beach mansion for $125 million, according to the New York Post. Mr. Trump bought the 60,000-square-foot home for $40 million a year ago.

It is the most expensive listing in the world, and should soon be on the website of co-brokers Prudential Douglas Elliman and the Corcoran Group. Mr. Trump’s property is about $3 million more than the previously most expensive, Updown Court, a 103-room mansion outside London.  read more »

-Michael Calderone

In Manhattan, it’s no secret that politics and real estate can be brutal.  read more »

“I had become an expert at airbrushing,” said 56-year-old Barbara Corcoran.  read more »

“I had become an expert at airbrushing,” said 56-year-old Barbara Corcoran.  read more »

You may be seeing a lot more of Barbara Corcoran's face in the near future. Ms. Corcoran resigned today from her position as chairman of The Corcoran Group in order to embark on a new television venture called Barbara Corcoran Productions, The Real Estate has just learned. Her production company plans to produce network television content. Calls place to The Corcoran Group have not yet been returned.

The media-savvy founder of The Corcoran Group, who already pops up on the small screen regularly discussing the real estate world, is planning on making television her full-time job.  read more »

In the past few years, while still assuming a public role, Ms. Corcoran's daily responsibilities in the company have been reduced. Pamela Liebman serves are President and CEO, while the founder assumed the role as chairman in 2001. Her resignation is effective November 15, 2005.

-Michael Calderone

In the late 1950’s, Harry Belafonte was on top of the world.  read more »

In the late 1950’s, Harry Belafonte was on top of the world.  read more »

Photographer Cindy Sherman's three-bedroom co-op has just gone to contract. The 4,100-square-foot loft is listed for $4.75 million with Jim Brawders of the Corcoran Group.

Any not-so-starving artists care to jump in with a better offer? The Soho spread is "pin-drop quiet and exudes a sensual elegance." Also, there is a 1,000-square-foot studio space, a library, and craftsman-style storage.

More pictures:

Leaving all that "sensual elegance" behind, Ms. Sherman recently purchased an approximately 5,000-square-foot condo near the Hudson River, according to the New York Times.  read more »

- Michael Calderone

Housing boom or not, Manhattan is still just and island. Today's luxury brokers lack the sprawl of Florida or Southern California, where new McMansions extend for miles. So the Corcoran Group has a new solution for wealthy buyers in need space: buy a yacht.

They are the first New York City brokerage company to dive headfirst into the boating trade, teaming up with Monte Carlo-based Edmiston and Company.

"Corcoran has a wide-ranging, high-end clientele," said broker Wendy Maitland. "We both thought it would be mutually beneficial."

Before today, Ms. Maitland had only two yacht listings on the Corcoran site, including one $35 million vessel belonging to Israeli investor Jonathan Leitersdorf (it's called the Tiara). Incidentally, for all your landlubbers, Ms. Maitland still has the listing for Mr. Leitersdorf's $20 million Greenwich Village loft (which made a notable cameo on Sex and the City).  read more »

Corcoran has the co-exclusive listing on about thirty yachts, ranging in price from approximately $800,000 to $60,000,000.

- Michael Calderone

... never had so much mahogany! One of those super-rare duplex apartments (with penthouse and studio) has just opened up at the Hotel des Artistes, a really old-school co-op at 1 West 67th Street. It's listing for about $4.6 million.

Architect George Mort Pollard designed the Gothic-style building, which was finally completed in 1917.  read more »

Since then, the famous building has housed many noteworthy artists and writers; including, painter Norman Rockwell, director Mike Nichols, writer Fannie Hurst, director Alan Crosland, playwright Noel Coward, and writer and critic Irving Howe.

It is currently listed with brokers Carol Opton and Dan Douglas of the Corcoran Group.

Sony USA chairman Howard Stringer has sold his 20-foot-wide Carnegie Hill townhouse for $7.85 millio  read more »

Celebrated young author James Frey must be banking on the success of his soon-to-be-released second  read more »

Lately, ominous headlines suggest that the real-estate bubble is about to burst.  read more »

Public-relations guru Dan Klores is switching Hamptons.  read more »

The final hurdle in the long and tortured dissolution of the Lycée Français' storied townhouse col  read more »

A 24-foot-wide billboard will soon be hoisted above the sales office of the sleek residential tower  read more »

The Carhart Mansion, formerly one of several Upper East Side townhouses belonging to the Lycée Fran  read more »

Perhaps taking a cue from rocker Lenny Kravitz-who recently slashed $1 million off the asking price  read more »

Calling all Soho bargain hunters: The lavish penthouse at 30 Crosby Street belonging to Lenny Kravit  read more »

On June 22, the Corcoran Group, backed by Parsippany, N.J.–based N.R.T.  read more »