HGTVs Selling New York

HGTV’s Selling New York rides along with brokerages CORE, Kleier Residential, and Warburg as they try to sell fabulous properties fabulously. Here’s our recap of how the NYC real estate industry is portrayed to the world, penned by Angela Bunt. Episode air date: 12/13/2012.

In this week’s episode, Michele Kleier is feeling the pressure from the property developers over at Greystone to sell their $4.75M, 4BR, 4.5BA Upper East Side penthouse before the summer rolls around. But this isn’t Michele’s first rodeo, and she’s ready to bust out the big guns and git ‘er done. Also featured this week is the fresh-faced Adrian Noriega, who’s trying to move a Flatiron property for the highest dollar-per-square-foot possible. But with his client’s disdain for dirty carpets, she’s hesitant to allow an open house in the apartment. Will Adrian be able to create enough buzz around the apartment without an open house? Will Michele be able to turn over the UES penthouse before the end of spring? Read on, friends. Read on.

We first catch up with Mama Kleier at 180 East 93 Street, where she’s hanging with Doug Benach, president of Greystone Property Development, and Jeffrey Simpson, the director of development at Greystone. They’ve given Michele (and co-broker Lauren Muss) the exclusive on two penthouses in the Upper East Side building. Penthouse two has been sold, but that pesky penthouse one has yet to move. The trio discuss marketing strategies and decide that the apartment needs to be staged and shown in an open house.

South Florida Business Journal

New York-based Greystone and Alta Developer and Strategic Properties, the latter two from Miami, announced plans for a 13-story, mixed-use project in Coral Gables.

The Mile at Coral Way LLC, managed by Simon Abel Groll, recently sold the site at 3622 S.W. 22nd Street (Coral Way) for $7.1 million to The Mile at Coral Gables LLC, the name of the joint venture between the three developers. Maxim Credit Corp. provided a $5 million mortgage for the deal.

The property previously traded for $6.2 million in 2005.

The Real Deal

Greystone Property Development is making an initial foray into the Miami multifamily market with a planned project near Miracle Mile in Coral Gables.

The New York-based firm has acquired the development site at 3622 Coral Way and hopes to begin construction on The Mile in the first quarter of 2014, Globe St. reported. The Mile is a planned 13-story, 119-unit apartment building with ground-floor retail space. The building’s projected value upon completion exceeds $40 million.

Greystone has formed a joint venture with Miami-based Alta Developers and Strategic Properties for the development. Coral Gables-based architecture firm Behar Font & Partners has been retained to design the building.