Condo Blog - A Non-Corporate Blog From CondoDomain HQ

Latest news from my Lindsay Lohan Condo Post yesterday…is that she was actually given the Condo, and she did not purchase it.

As noted in the article, many high-end developers will do this to attract more PR around the development.  If you think about it, it costs just about the same to kick off a killer PR campaign with print advertising and its NOT as cool as having a celeb in your condo building!

Condo Developers of these luxury lifestyle buildings are using everything from world renown artists like Philippe Starck, Designers like Armani Casa in 20 Pine downtown NYC and Ian Schrager world renown hotelier in 40 Bond Street in NOHO and even Jade Jagger, Mick Jagger’s daughter designing the Jade in Chelsea (as you can see NYC is taking the lead in branded condominium buildings!)…. and its the buyers are eating it up. 

These aren’t sales tactics, they are positioned marketing & designer goods that last.  They have staying power and tell a story.  This is what actually attracts me to the urban condominium marketplace.  I believe we are just scratching the surface of creativity, luxury & lifestyle aspects of “Branded Buildings”.

Your thoughts on branded condo buildings?

The South Beach hotel once slated for Nicky Hilton’s debut in the lodging industry has filed for bankruptcy, as its hopes for star-powered profits fall drastically short.

Condo-hotel converter Robert Falor is asking for Chapter 11 bankruptcy protection to reorganize the Breakwater and Edison hotels — adjoining properties that were to be renamed ”Nicky O” after the celebrity socialite.

That deal fell apart last month. A lender suing Falor for $36 million claims the Chicago developer also failed to deliver other star endorsements for the Ocean Drive property.

The suit by an affiliate of Oaktree Capital Management includes a loan agreement requiring Falor to sell condominiums to Scott Storch or Pharrell Williams, both famous hip-hop producers, or another “celebrity reasonably satisfactory to the Mezzanine Lender.”

The bankruptcy filing in Miami marks a dramatic turnaround for a property that only last summer enjoyed extensive coverage in People magazine and approving mentions by David Letterman. And it represents the latest financial setback for Falor, a developer who once led South Florida’s booming condo-hotel trend but left a string of failed partnerships and court fights.

”I would say he was among the top in the country,” said Coral Gables hotel broker Guy Trusty. “I think he has given the condo-hotel model a bad name.”  Continued…

Source:  Miami Hearld

More on Miami Condos

Celebrity Lindsay Lohan purchased this hi-rise, Midtown, mid-century-decorated condo for an undisclosed sum. She’ll be forced to slum it in the building’s gym, sauna and indoor pool. The building, which features a towering lobby, includes basketball and volleyball courts and a rooftop billiard lounge!  Check out more photos here.

Source: TMZ

More on New York Condos

Hey, cool new site & concept in the Seattle Condo market!  Urban Condominiums has partnered with us as one of their Internet marketing consultants to help drive buyers searching for urban condominiums!  Urban Condominiums concept hosts most of the new downtown Seattle Condos for sale giving you a breif overview and then connecting you directly to their website.  Working with Urban Condominiums will be a good experience as they have a different platform and business plan than us, although we all aim to serve the online shopper and connect them with that downtown Seattle Condo Developer! 

Visit UC today!

More on Seattle Condos

Well, not what you are thinking…we are not “flipping rich” but we did get a chance to show off our new T-shirts today!  Adding to the Celebrity T-Shirt Modeling efforts by Nick Sudano (above left) and Tony Longo (above right) from condoDomain, FLIPPING RICH, is our newest friend!

Flipping Rich is an investment blog operated by Sunny Yee and Derrik Dyka.  Derrik is a Minneapolis realtor. Sunny works in the investment industry.  

Check out Flipping Rich today its one of our weekly reads…and their is some great information their. 

Well Derrik, we love our new T-Shirts….so thank you and keep up the good work…and welcome to the Celebrity T-Shirt Modeling Fund!

[ Previous T-Shirt Post: Chitown Living, Chicago ]

Based on a survey conducted by BankRate Inc., an estimated 34 percent of homeowners are uncertain what kind of mortgage they carry. The findings also showed that 28 percent of poll respondents fret about how they will manage to make future loan payments, and 36 percent of those holding adjustable-rate mortgages do not know what action they will take once their interest re-sets.

“Clearly, many homeowners are uninformed about their mortgages,” says Bankrate.com senior financial analyst Greg McBride. More than half of the homeowners surveyed–57 percent–have fixed-rate financing, and 38 percent of those polled say they would shy away from ARM products when purchasing a home in the future.

What type of Loan Do You Have?  ARM, Option ARM, Fixed Rate?

For all you negitivo’s, bubble bloggers, housing panic bloggers and trend watchers…STAY OUT OF BOSTON or you will go out of business.  I have never read more bad press, bad news & bad comments and actually experienced the TOTAL oppoisite in real time!  Well this is a true scenario and I was personally involved with this one.

As noted in early posts, I had sold my condo about 14 months ago and like many, had been waiting to jump back into the market because I had not found what I was looking for.  Well recently, I had found what I was looking for (3 seperate times)…unfortunately it went 3 weeks getting beat on my ‘over asking’ offers in Boston’s South End.  Yes, thats right, I lost 3 offers in a row with Over Asking offers on 3 different properties, 3 weekend’s in a row!  Well, this week was my turn for a new condo unit in Boston’s South End!  I won’t disclose address yet…until I get this under P&S…but I will share with you that it was $800/ft and I got it with a full price offer!  Boston Bubble…hmm…dont think so!

The downtown Boston Real Estate market is roaring so if you are interested in getting into the market…sharpen your pencils and be ready to bid, that day!  Also, get your arms around a TOP real estate broker…you need him/her in these conditions.  If you want us to refer you one…just drop us a note!

Sweet….Condo The Band!!!

We havent heard their tunes yet…but when we find some samples we will post them!

Condo the Band update…we got tunes:  Check them out here on MySpace

———————————————

Hey, also came across an awesome band - www.theeverydaypeople.com - Check out these tunes…I am totally “jamming” this band!  Listen to them here.

If your in or around Boston today, pick up the Globe and pull out the Boston Globe Magazine insert today.  3 Great articles:  One on Boston Market, One on Discount Brokerage and new services coming out and One that throws around big stats stating Single Guys Renting instead of buying!  (news to me…)

 According to their statistics single males has the lowest homeownership percentage in Massachusetts.  Married Couples (60%), Un-Married Couples (8%), Single Woman (24%) and Single Men (6%).  Seems crazy but MAR is putting that out…so wow!  Who knew!

When they did some interviewing, most of these “guys” stated that they were not buying until they were going to get married and that they liked being mobile and having the ability to pick up and move if they want or with a new job, etc.  I guess it makes sense if you are not committed to downtown Boston…but even running some comps for myself recently, its still cheaper to own than to rent!

Well, some of us do buy…Clooney is still single right?  And he has more than one piece of real estate, my fav being the Italian Villa on Lake Como in Northern Italy.

(PS - still waiiting for my offer to be accepted…I should hear back today)

Great new blog I found the other day - the Real Estalker.

Anyway…Jason Priestley, our beloved 90210 star has put his house on the market!
LOCATION: Outpost Drive, Los Angeles, CA
PRICE: $2,199,000
SIZE: 3,550 square feet, 4 bedrooms, 3.5 bathrooms

Check out the website for the house.

More Info Here

(PS - I know we have this tagged under celebrity condo, well, maybe he is selling this and moving into a condo…right?)

Earlier this week, Trulia got booted from the Prudential Conference in San Diego.  (here)

but now…

(PS - I AM REQUESTING THAT THE FEATURED “Prudential Blue Colored” PINS ON THE TRULIA MAP BE CHANGED!!!!)

Trulia was selected by the Real Estate Board of New York (REBNY), New York City’s largest and most prestigious real estate group, to power the first real estate search engine dedicated exclusively to New York City-based listings. REBNY announced (pdf) their intent to build the portal late last year and Trulia was chosen among six finalists to do the job.

What does this mean?  CLICK HERE TO FIND OUT

We could maybe make this into a Reality TV show!  What does your Realtor do in his off time or as a 2nd job as he tries to climb the Top Producers Club?  A good question to ask the next time you see him or her.

True Story:  Yesterday, I was in the South End in Boston (yes, making another offer on another condo unit) and I had a great 2nd showing.  Things are looking good…and will keep you posted.  Running a tad late for a meeting, I jumped a cab to the Back Bay.  Just a normal ride across town.  The cabbie was very polite and got me to “point B” with no problem.  I paid the cab driver and opened the door to get out….then BAMN….the cabbie hit me with a business card and a quick sale pitch, “Hey, if you are buying or selling a new home, call me and I can be your broker.”  Stunned…I said thank you and that was it.

So I stare at this business card today writing this blog.  I guess at the end of the day, he is just a hard working individual like many of us.  Well, I guess their is no real point of the story here…but thought it was interesting.  I know your all wondering…so Ill tell you who he worked for:  Coldwell Banker.

A very cool video…watch it!  It tells a very true story!

RIM’s retransmission facilities are in Canada, every time you use your Blackberry, you are using it OCONUS.  The e-mail gets routed from your Blackberry to Canada and from there to its destination.  So whats the bid deal right?  Well,this also means that since every e-mail on your Blackberry is an international communication into the U.S., the NSA can monitor it.

More info here…

Deepthroat knowledge report from Sellsius Today….that Trulia was Booted from the Prudential Real Estate Trade Show.  Comments on the Sellsius Blog stated that it was a misunderstanding and their are no hard feelings….hmm?  Travel all the way from San Francisco to San Diego for a conference, set up your booth and then get asked to leave.  C’mon, I would be furious!  We have met the Trulia guys, really good guys…I think its bad blood that they did that to them, however, I do respect the Prudential/Yahoo relationship though.   Im sure their will be some pickup on this … watch for updates on Trulia Blog.

The Downtown Condo Team of Stephen May and Wayne A. Willbur will be showing units for sale and lease at the adaptive-reuse Little Tokyo Lofts, 420 S. San Pedro St., formerly a Westinghouse factory, this Saturday, March 24, from 10:00 am to 4:00 pm.

Downtown Residential Real Estate has moved its office to the Little Tokyo Lofts, Unit 519 in the mixed-use industrial/residential Toy District, which is located between Los Angeles St. and Alameda St., just south of Little Tokyo. This live/work loft also serves as Broker Stephen May’s second home. Unit 519 is a corner plan with exposures to the east and south, a large closet, maple floors, and 12-foot ceiling. The secure deeded parking is located in a separate garage structure connected to the residential building by a walkway overlooking the pool and spa.

Stephen May, though himself a real estate licensee, chose to be represented in both the sale of his Bartlett Building loft and his purchase by teammate Wayne A. Willbur of Deasy/Penner & Willbur. Both transactions are reported at www.themls.com, MLS# 07-158999 and MLS# 07-153877.

This Saturday, March 24, Wayne and Stephen will be available at Little Tokyo Lofts from 10:00 am to 4:00 pm to show clients units for sale and for rent. Out of 161 units, 51 are still available for sale. They range in price from $325,000 for a 690 sf loft to $1,020,000 for a 2207 sf two-level unit. All come with deeded parking. One 861 square foot west-facing unit with skyline view, walk-in closet and secure, covered parking is available for rent at $1700 per month. Wayne and Stephen can repressent you as a team in either a purchase or lease. Two for the Price of None (Seller/Landlord pays commission)!

Let Stephen (213-804-3800) or Wayne (213-500-0254) know if you’ll be coming by on Saturday, March 24 any time between 10 and 4, so we can arrange a tour for you with the Sales Staff, or just drop by. There is ample guest parking; just pull up to the security station in the alley south of the building and tell the guard you’re seeing Stephen May, Unit 519.

If you want to be assured of a quiet upstairs neighbor, be sure to ask to see Unit 419. It’s a 966 sf corner unit with huge windows and large closet, asking price $495,000, $20,000 less than what Stephen paid for the unit one level above! And Stephen and Wayne will attempt to negotiate some amenities/concessions from the Seller on your behalf.

You can visit Little Tokyo Lofts Here…but dont forget to call Stephen May if you want to check them out!
Stephen Seiferheld May, Broker
Downtown Residential Real Estate
downtownlofts@gmail.com
Office: 213-221-4514
Cell: 213-804-3800

Manny Ramirez is still having a hard time selling his Penthouse at the Ritz Carlton overlooking Boston Common which is listed at $6.9M by Boston Reatly Advisors. (check out the photos here).

Manny Quotes, “Hi, I`m Manny Ramirez. I bought this AMAZING grill for about $4,000 and I used it once… But I never have the time to use it because I am always on the road. I would love to sell it and you will get an autographed ball signed by me =] Enjoy it, Manny Ramirez.”

So maybe he thought he could make some extra cash (or save some anticipating a monster commission check to his broker) by auctioning off his outdoor Grill?  Check it out here on Ebay,  looks like the current bid of $4650 is already $650 more than what he paid for it…oh and by the way, he will autograph a free MLB baseball for ya!  Interested in Bidding…the Ebay Auction Here

Source

The Boston Real Estate Market is as hot as it has ever been. Sunday open houses have been jam packed and a multitude of ‘over asking’ offers are creating a buzz in this downtown real estate market. This past week condoDomain.com, the Boston based Internet marketing firm for condo developer’s toured a dozen open houses to witness the commotion. “From new construction condo developments to re-sale open houses, the condo market seems to be back and bigger than ever,” noted Anthony Longo, Founder of condoDomain.com. Anthony even joined in on the frenzy and put an offer in on a unit in Boston’s South End. However, his $5,000 above asking offer was not good enough and the condo was put under agreement later that day.

This weekend there were numerous reports of condos that went under agreement for above asking in Boston. “It makes sense, the individuals who waited and did not purchase last year are now in the market and with very low inventory they are battling to get into the market” said Longo. condoDomain.com’s nationwide network of real estate agents and bloggers also chimed in noting condo markets such as Seattle, San Francisco, Manhattan and Atlanta were experiencing similar trends.

Last week, condoDomain.com put out a report detailing condo buyer demographics in which they had taken a poll on in the previous month. The statistics noted that the average condo buyer was searching for their new condo online. These online condo demographics stated that condominium buyers were young professionals (46%), looking to purchase and move into it the unit as a primary residence (78%), and they want to move into a high-rise (45%) under $450,000 (73%). For more information on this report please visit www.condoDomain.com.

About condoDomain.com
condoDomain.com is a privately held, Internet marketing company serving the real estate industry that is dedicated to city living and the condominium lifestyle. Unique to the real estate industry, condoDomain.com is an independent resource, bringing together buyers, brokers and developers of condominiums in one place. Buyers benefit from a comprehensive resource that enables them to research market news, view properties and get relevant information about urban living. Brokers and developers have an additional, premier venue with multimedia options, to promote their properties to a sophisticated, highly targeted audience. condoDomain.com LLC also promotes Internet consulting and advanced Internet marketing initiatives for onsite sales & marketing companies supporting developers nationwide. Visit www.condoDomain.com to learn more.

condoDomain.com Condo Markets

Atlanta â–ª Austin â–ª Baltimore â–ª Boston â–ª Charlotte â–ª Chicago â–ª Dallas â–ª Denver â–ª Detroit â–ª Ft. Lauderdale â–ª Hoboken â–ª Honolulu â–ª Houston â–ª Jersey City â–ª Las Vegas â–ª Los Angeles â–ª Miami â–ª Minneapolis â–ª Naples â–ª New York â–ª Orlando â–ª Palm Beach â–ª Philadelphia â–ª Phoenix â–ª Portland â–ª Providence â–ª San Antonio â–ª San Diego â–ª San Francisco â–ª Seattle â–ª St. Louis â–ª Tampa â–ª Washington D.C. â–ª Toronto

Condo Markets Coming Soon
Virginia Condos | Atlantic City Condos | Cincinnati Condos | Cleveland Condos | Columbus Condos | Fort Worth Condos | Connecticut Condos | Indianapolis Condos | Jacksonville Condos | Palm Coast Condos | Panama City Condos | Kansas City Condos | Louisville Condos | Memphis Condos | Milwaukee Condos | Myrtle Beach Condos | Nashville Condos | New Orleans Condos | Orange County Condos | Pittsburgh Condos | Salt Lake City Condos | San Juan Condos | Maryland Condos | Virginia Beach Condos | Calgary Condos | Vancouver Condos | Montreal Condos

Contact:

Huguette Diakabana
Information Management, condoDomain.com
877-852-6636

Release placed by ANTH | JAMES (www.anthjames.com)

Bored tonight…found this on StubleUpon 

25 Bond Street (above) was unveiled this weekend.  SOHO visionary Developer Tony Goldman who is also currently involved with projects in Boston, Philly & Miami, unveils his new NOHO masterpiece!  Eight stories of hefty rough-cut Jerusalem limestone partnered with details of dark bronzed steel. It’s been designed by architect George Schieferdecker of BKSK Architects as six stories of four bold asymmetrically arranged sections with recessed windows down below and a couple of stories of contrasting steel crowning the top. The building runs for a full 100 feet along Bond Street across from Ian Schrager / Herzog and de Meuron’s all glass palace at 40 Bond. What a pair these two make. As different as Archy and Mehitabel.

Schrager’s 40 Bond Below.

Source:  Curbed

Famed Jorge Perez and John Hitchox / Philippe Starck Killer Combo has done Mexico with their new project Icon Vallarta.  See the new property here. 

This is a very exciting new pre-construction opportunity on the beaches of Puerto Vallarta. The Related Group has announced it is developing Icon Vallarta in partnership with YOO by Philippe Starck. The beachside project will feature three 26-story high-rise luxury towers comprised of 336 condominiums with 7 spectacular pool side villas all fronting the Pacific Ocean and minutes away from historic downtown Vallarta.  

Condo Property Here

Philippe Starck Here

Related Group Here

YOO Here
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FoREM comes though again with more creative video finds.  They spotted Donovan’s Life, a mini-series on a new condo develompent in Vancouver…and now they got what I think is a pretty cool and definte viral video spun up by the Canadian Realtors.  “Coined” How Realtors help - snuggled in as their URL - http://howrealtorshelp.ca/swf/ this video does produce a decent message to the home buying and home selling public of Canada.

Next up cool video on why not to use a Realtor (C’mon Redfin…we’re waiting!)

Click here to enlarge

As noted in a previous post, we were in the Bahamas last week and I pointed out where our room was on a picture.  Above was a 180 degree panoramic photo I took from the balcony using the “real estate camera” that I am coining!.  This thing is truly awesome.

 The photo above is actually 3 photos “stictched”  together by the camera and it makes 500 sq/ft studios look like flowing 1000 sq/ft rooms.  We have been testing it for the past month and I believe it is a must for any real estate agent.  It was pretty affordable too, I want to say around $300.  The model is a Kodak v570 and there is a lot of chatter out there on this.  Google it here.  Also, here it is on Kodaks website.

Its a good and bad thing!

The good news, the market is white hot - good job local press!

The bad news, I need a new home and I keep loosing the bids!

I have been personally looking for a new piece of property here in Boston for the past 2 months.  I have seen some great condos and put in some great offers (ALL ABOVE ASKING!) and have lost 3 so far.  I lost a beautiful condo yesterday on Appleton Street in the South End of Boston.  It was priced healthy and definitly above last years comps…however it went for almost 8% above asking.  Yikes!  Im still looking and plan to share the news with you when I find a new place! 

Some advice; if you are looking to buy a new condo in the downtown Boston area, sharpen your pencil and put in aggressive offers.  I am now 0 for 3 with all above asking offers!  Coming soon…the source for Boston Real Estate !

Ok what is the deal with the R2D2 Jedi Starwars US Post Office.  I saw one today on the corner of Newbury Street and Fairfield.  I didnt have my camera, but, dont worry I will get a picture of it later today!

Take this as your dose of levity for the day: As part of a big Star Wars stamp roll out for the film’s 30th anniversary, the US Postal Service will have some mailboxes across the country wrapped with R2D2 decals.

The mailboxes will be in 200 cities, and New York City is getting a few. The locations mentioned in the Daily News are 43rd and Broadway, 58th and Fifth Avenue, and 33rd and Seventh Avenue. And for Star Wars fans, remember that tampering with a mailbox is a federal offense.

The USPS has a USPS Jedi Master website that teases a March 28 announcement. According to The Force, the designs will be announced on the 28th, and the stamps will go on sale May 25. Which makes us wonder if any engaged Star Wars geeks will rearrange their invitation mailing plans to work with the Star Wars stamp release.  Continued…

Source:  Saw with my own eyes today & Gothamist

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