Peter Comitini of The Corcoran Group

Design-intelligent urban development

Fri, 27 Apr 2012 16:46:27 -0500

This is a fascinating keynote by architect and urban planner Vishaan Chakrabarti, Director of Columbia University's Center for Urban Real Estate or CURE. There are some big ideas presented here about the future of New York City's development built around sustainability, economic return to the city, and unlocking the potential of underutilized land, by creating well-designed urban density and mass transit to service it. One statistic that jumps out is that there are about 4 billion square feet of unused FAR (development rights) in our city today. This is actually land unused because of...

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A Co-op With Elbow Room, The Times covers my work again!

Sun, 22 Apr 2012 19:11:26 -0500

The New York Times' The Hunt covers the often intense ups and downs of people searching for homes in New York City. For the second time this year, I'm privileged to have my clients profiled. It was an exhausting apartment hunt that I brokered, poetically culminating full circle, with my customers Evan and Natalie buying the apartment literally across the hallway from the one where I had met them months earlier, at an open house for one of my exclusives at 350 E 77th Street. It was a real roller-coaster of a search. Times writer Joyce Cohen tells the whole story in A Co-op With Elbow Room, in...

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Springtime in Chelsea never felt better

Sat, 21 Apr 2012 18:10:32 -0500

We've just redecorated, planted, and improved the asking price by $105K to $2,395,000, on this unique Chelsea triplex. Massive terraces on two levels are what makes this boutique property the perfect home for entertaining al fresco. Imagine barbecuing with your friends and family, on over 900 square feet of terraces, connected by outdoor and indoor stairs, providing great flow throughout the apartment. Step inside and you'll find three floors with 1800 square feet of living space, with designer finishes by Andreas Escobar. Modern to the core, it has the feeling of a small townhouse, but comes...

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The New York Times covers my apartment hunt

Mon, 12 Mar 2012 22:09:19 -0500

It was a real privilege to be covered in the New York Times last week. The Hunt columnist Joyce Cohen covered my nearly two year apartment search for Dr. Christopher Leggat. After one deal went sour at the Victoria in The Village, we closed nearly a year later on an apartment at the new development Tempo on East 23rd Street, that he loves. We searched a corridor of Manhattan accessible to the PATH trains that stretched from Battery Park City to Greenwich Village, Gramercy Park and Chelsea. Outstanding client relationships are truly the way that an agent's real estate practice grows. Few...

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Building Sold! 12 West 104th Street at Central Park West

Tue, 06 Mar 2012 14:57:08 -0500

I'm pleased to announce that I've closed a deal for a 16 unit apartment house on West 104th Street right off Central Park West.The seller had his choice of eight offers on the property. Selling close to asking price, with an all cash buyer. My office at Corcoran specializes in the marketing of small buildings, including multi-family and mixed-use properties. Starting with owner's advisory services and local market intelligence; then driving that into a real marketing strategy with true global reach. I achieve these kinds of results for my sellers by pricing correctly, co-brokering openly,...

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Home staging tips from Open House NYC

Fri, 17 Feb 2012 13:22:18 -0500

In this Tips of the Trade segment from Open House NYC, stager Cathy Hobbs gives us a common sense walk-through on the importance of properly presenting a property for sale. Staging on my exclusives can range from working with me to make recommendations on painting, and tweaking the placement of your furniture— to more industrial strength work with professionals, who are able to create the aura of a complete home, with furniture, linens, and tooth brushes, in an otherwise vacant apartment; and all points in between. Turning it into an attractive product for sale, by neutralizing the...

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A stable Manhattan real estate market

Mon, 06 Feb 2012 21:39:06 -0500

Here is the latest real estate sales data in the forth quarter 2011 report on the Manhattan market. Download the full report here, with a breakdown of by sub-markets. Here's my take. Condo inventory shrinks, coops are where the deals areSales began to slow toward the end of 2011, however in prime downtown markets like Chelsea, the Village, and Tribeca, there was a distinct lack of quality inventory in almost all sized homes. Indeed, market wide Q4 inventory shrank by about 6% from Q3 to 8440 units on the market. Way down from 12,300 available for sale back at the market's bottom in early...

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Tiered terraces in teriffic Chelsea triplex

Sat, 04 Feb 2012 21:34:15 -0500

(Updated with new pictures 2.4.2012) My first new exclusive of 2012 is a truly unique triplex apartment at 'Slate' in Chelsea. It has just come to market. This is a one of a kind home, that features two, massive, tiered terraces totaling 926 sq. ft., plus 1843 sq. ft. of luxury living space in a building that was delivered as brand new in 2006. Entertain al fresco, under the sun and stars. Inside you'll find three floors of luxurious finishes, with kitchen and baths designed by Andres Escobar. The apartment has a very bright northern exposure, with floor to ceiling windows, Brazilian Ipe...

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The perfect finish to an apartment hunt

Thu, 12 Jan 2012 23:06:31 -0500

I received this note today from a couple, whom I had the privilege of helping buy their first coop apartment. A nice pre-war unit at 350 East 77th Street. I met them at an open house when I was listing a unit for sale there, which lead to a long search, all over the upper east side. It was a real roller-coaster ride, and a bit too long a story to tell here. In the end they found the perfect one bedroom home, directly across the hallway from the unit where I'd met them! I do deals in every price category, but there are no small deals. It is almost always the largest transactions in a person's...

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Thank you for an amazing year!

Sat, 31 Dec 2011 09:49:31 -0500

click to zoom image; yes, it's a reprise of my 2006 new year's resolution card It's been a remarkable 2011. The market in New York City found it's footing again, albeit a bit cautiously. I've had the privilege of working with great clients and seeing them through to their real estate goals. The one thing that rings true for me across both my commercial building and luxury residential sales, is how much more focus it has taken to get the deals done. Nothing has come easy, and I've learned considerably about the art of brokerage. More than ever, great marketing programs have been crucial,...

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Comitini sells 177 Franklin Street in Tribeca

Tue, 05 Jul 2011 18:28:14 -0500

I'm pleased to announce my sale of this historic mixed-use loft building at 177 Franklin Street, in the heart of Tribeca. Built around 1920, this masonry building has been reinforced with structural steel, new elevator, and all new mechanical systems. The property is slated for redevelopment into a single family townhouse, or may be converted to a mixed-use condominium project. It is an ideal property for an end user that would like to create a home, operate a business, produce rental income, or any combination of the above; all in Manhattan's best neighborhood. I represented the new owners...

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Become your dream

Tue, 15 Feb 2011 20:27:42 -0500

I've been showing a few properties on the Upper East Side of Manhattan recently. Walking the streets around 75th and Second Avenue I started noticing the words "become your dream" and a fish, scrawled on some of the garbage that has piled up because of the snow and lack of garbage pick up this winter. It was transformed into piles of new canvas for some creative street artist. It reminded me of the late 70's © SAMO graffiti that started popping up all over town, attributed to the artist Jean-Michel Basquiat. I googled the phrase and found that others had noticed it too....

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January 2011 Manhattan real estate market report

Mon, 14 Feb 2011 16:58:36 -0500

Here are the latest metrics on contracts signed in January 2011 at the corcoran group. The condo market really started coming back to life in January with price per square foot numbers higher, and larger units selling. Frankly, business has been brisk for right-priced prime Manhattan real estate.

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I have to pay a higher interest rate because of a delay in closing, who's responsible?

Sat, 22 Jan 2011 08:29:35 -0500

Today we have a couple of questions answered by New York City based Real Estate Attorney Keith Schuman, about the closing process on your coop, condo, or loft. After the deal is struck, your attorney and broker will work to get it closed. The road is often smooth, but issues can arise. Having the right representation can really help keep a deal on track. If a Purchaser must pay a loan extension fee or a higher interest rate as a result of a delay in closing, is the Seller liable for these expenses?Closings are delayed for many reasons. A Seller has no control over how quickly the...

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Price improved! Art Deco, pre-war one bedroom

Mon, 17 Jan 2011 21:23:47 -0500

I've just been authorized to drop the price of this one-bedroom co-op, on Manhattan's Upper East Side by almost 10% and now offer it at $435,000! Spectacular value for a spacious, pre-war apartment, on East 77th Street, between First & Second Avenues. This second floor apartment in an Art Deco style building, gets great light from its south exposure facing a courtyard, with views of the street and the tree tops on East 76th St. It has a nice dining area just off the kitchen, and a window in each room. This is one of today's best priced properties in the neighborhood. see this listing: 350...

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