Sotheby’s International Realty offers new custom developments buyers are looking for

Sotheby’s International Realty: Gregg Lynn, Ruthie Porterfield, Brenda Powers, David Slinko, Mae BagaiElizabeth Sample, Greg Forest

Although Sotheby’s International Realty is a global leader in luxury real estate, it does more than market existing properties. Its growing Sotheby’s International Realty Development Advisors (SIRDA) division assists top developers with planning, marketing and sales to optimize their most exceptional projects.

“It’s a very exciting time for us as we have expanded extremely rapidly, with several new projects on the horizon for the summer,” said David Slinko, Vice President of Development for Sotheby’s International Realty. “SIRDA’s approach is to pair our new development knowledge and skills with the best agents in the industry, then leverage the credibility of Sotheby’s International Realty and access to high net worth individuals with our global reach to exceed developer expectations.”

Today’s discerning buyer is attracted by the high level of design inherent in new developments. “Every detail of the residence is carefully considered and fitted with the finest materials and appliances,” says Slinko. “Properties are uniquely designed to fit the way target buyers envision their lives.”

Here’s a closer look at five of these exciting recent developments and the accompanying trends that are driving demand at these exclusive locations around the world.

Looking for Convenience in NYC

The Midtown Manhattan market is seeing strong demand for new construction products from the many young buyers returning to town or entering the market as first-time buyers, according to Mae Bagai, Senior Global Real Estate Advisor Associate Broker at Sotheby’s International Realty in New York. “Most young buyers don’t want to go through the uncertainty and complications of co-op board approval and therefore prefer to invest in newly built turnkey residences with low monthly payments,” she says. .

This leads to limited supply in prime locations, which is why a new development at 225 West 17th Street in Chelsea was recently successfully sold, earning a record price per square foot in the neighborhood. Bagai was able to place all 10 units under contract within seven months of the relaunch, with strong interest from buyers in the technology and finance sectors who had offices within walking distance of the project.

It also recently sold 90% of available inventory at The Avant in the East Village, taking advantage of several price increases as the market progressed during the sale period. Throughout the process, she lent her expertise to the developer and architect to restructure floor plans and add amenities to suit buyers’ changing tastes. Now Bagai is currently in the process of launching a project in Midtown East where Sotheby’s International Realty Development Advisors team assisted the developer in selecting finishes and amenities to better align with buyer preferences in this particular sub-market. .

Highlight dazzling views in West Palm Beach

The key word in West Palm Beach is “demand,” according to Greg Forest, Senior Global Real Estate Advisor at Sotheby’s International Realty’s Palm Beach Brokerage. “Incredible demand has been met with the sought-after real estate available in this region, which is unparalleled due to its weather, amenities and tax advantages. Proximity to what I consider to be the easiest international airport to navigate is the icing on the cake.

His most recent project for sale was ICON Palm Beach Shores, a waterfront property on Palm Beach Inlet in Singer Island that offers stunning views of the Atlantic Ocean, Palm Beach Island, the Inlet Waterway and the Breakers hotel. The project consisted of 15 condominium units, housed in three charming buildings.

When ICON Equity Group took over the project, Forest knew it needed to develop a strategic plan to execute a successful sale, with strong relationships and communication as the foundation. They developed beautiful, realistic renderings that showcased the project’s location, dramatic views and modern finishes, then enticed buyers with small but impactful incentives. The plan finally attracted a wave of buyers in a very short time.

“Thanks to our team mentality and working with a leading developer like Icon Equity Group, we were able to sell the whole project before we even started.”

Exploring New Footprints in the Bay Area

The pandemic has dramatically changed how and where we work and live, a development that continues as many consumers seek to reduce their footprint while remaining in urban environments, close to business, culture, cuisine and/or or sports, note Gregg Lynn with brokerage Sotheby’s International Realty’s San Francisco.

“These preferences are driving Bay Area residents to seek out new condominium developments that feature unique amenity programs to give consumers a fresh perspective on city living.”

Currently, he is one of three business partners involved in a 42-unit luxury development, Mill District, in Healdsburg, CA. “We engaged Sotheby’s International Realty Development Advisors early in our pitch process because of their reputation for helping groups win competitive engagements and then actively coordinating strategy for all phases of development sales,” explains Lynn. The SIRDA partnership has been extremely successful as it allowed the sales team to focus on their core business: marketing across the Sotheby’s International Realty sphere.

Going forward, he expects the market to remain strong, citing three key trends: the continued evolving consumer trend to downsize to high-amenity condos; an increased volume of retirees seeking part-time or full-time housing in San Francisco; and the return of international buyers looking for property close to family and friends, whether for investment or future personal use.

Explore the lush beauty of St. Kitts and Nevis

St. Kitts and Nevis is one of the world’s latest and greatest destinations,” according to Brenda Powers and Elizabeth Sample, top global real estate consultants at Sotheby’s International Realty in New York. “Many residents are drawn to the feel-good component inherent in the year-round trade winds that infuse the air with oxygen.”

They are currently selling a new luxury development – Solterre at Cockleshell Bay. The 36 two- and three-bedroom turnkey residences offer breathtaking panoramic views of the Caribbean and Atlantic Ocean, which includes lush landscaping, private plunge pools, and spacious terraces. A complementary development, the Solterre Villas, offers the same quality and opulence, accompanied by traditional resort services. Lavish amenities are available for both properties, including an infinity pool, fitness center, water sports, beachfront concierge, and various restaurants.

While St. Kitts is desirable for many reasons – including its advantageous tax status and rugged natural beauty, “There are many reasons to buy or invest in property on one of the last paradises on earth where you have a melting pot of diverse cultures, languages ​​and global contexts Powers notes that it is a magical place where you can connect with planet Earth and find your spirituality.

See how new development is growing in Houston

“We are seeing a dramatic shift in the Houston single-family home market,” says Ruthie Porterfielda highly regarded real estate agent with over 30 years of experience. “Interest in new developments is at an all-time high as the ‘close and go’ lifestyle typically offers round-the-clock service and security,” she says, noting that many of her customers believe that it is the most important luxury equipment today.

Reflecting this desire and demand, Porterfield leads sales at 1661 Tanglewood, a 33-story residential condominium. Residences will range from 2,700 to 12,000 square feet with 11 and 12 foot ceilings, no more than two units per floor, with views of downtown and uptown. Pricing and floor plans will be available at the new 1661 Tanglewood Sales Center when it opens mid-year in Uptown Park.

Porterfield’s ability to work directly with clients to ensure all of their needs are met with regards to the ins and outs of new developments showcases his deep understanding of the growing market in Houston. As pointed out in a previous discussion with Martha Turner’s teamHouston is poised to overtake Chicago as the third-largest city in the next few years, underscoring the need for new development.

Developers look to Sotheby’s International Realty for success

“We like to get involved in a development as early as possible, it allows us to use our knowledge and experience to help the development team create an offer that connects with buyers and adds to the community,” says Slinko. .

For more information on how they can make your next project a success, contact Sotheby’s International Real estate
212.606.4162 || [email protected]