New Development - Case Studies Brochure

BOND PROPERTY MARKETING GROUP CASE STUDIES



BOND PROPERTY MARKETING GROUP CASE STUDIES

501 E 74 ST 501 E 74TH STREET, NEW YORK, NY CASE STUDY

DEVELOPER GOLDEN ASSET, LLC (SKY MANAGEMENT) PROPERTY TYPE NEW DEVELOPMENT RENTAL BUILDING INITIAL OFFERING APRIL 2016 OVERVIEW 501 East 74th Street was the developer’s first major new construction project, built from the ground up on a site the company had owned since the 1970s. BOND was engaged early in the planning process to consult on pricing, unit mix, finishes, amenities and tenant experience prior to being retained as the exclusive marketing and leasing agent for the 21-story, 81-unit residential rental property. With no recent history of new development rental on York Avenue, BOND planned an aggressive pricing strategy, aiming for high $70s per square foot on average, which was $10 per foot higher than older rental buildings along York. In collaboration with the developer, BOND planned an attractive common area and amenity experience and provided regular creative input and operational consultation as the building plans became a reality. BOND conceptualized and implemented all creative and operational work surrounding the leasing and marketing campaign, producing branding and style guide within its own in-house marketing department. BOND created the campaign’s look and feel, created a suite of collateral materials including brochures, floor plans, and swag, staged four model apartments, supervised the website build and implementation, and subsequently staffed and leased up the building in 2016. BOND’S MISSION • To consult and collaborate with the developer to create the highest profile identity for 501 East 74th Street, including a branding campaign as The Rose Modern, which would target the luxury demographic of prospective tenants. • To design and execute a visual brand, logo, photography, and video for use in all advertising and marketing. • To design and execute interior staging that would portray an aspirational lifestyle in order to attract top earning consumers to lease apartments. • To interface regularly with owners’ representative, contractors, architects, legal staff and vendors in order to realize a unified presentation of the developer’s vision. • To represent the property as the Exclusive Sales and Marketing Agent, coordinating an onsite leasing office, full-time staff, property presentation, and managing all negotiations and leasing administration in concert with the developer’s internal leasing management. RESULTS BOND established the property as a destination building on the Upper East Side during its initial leasing campaign. It exceeded expectations for rent prices, reaching the low $90s per square foot on the most desirable apartments. BOND orchestrated and organized the overall appeal of the property through staging and daily presentation, special events, and coordinated marketing strategy.

9 E 16TH ST 9 E 16TH STREET, NEW YORK, NY CASE STUDY

DEVELOPER MILAN ASSOCIATES TOTAL UNITS 15 OVERSIZED ARTIST STYLE LOFTS + RESTAURANT SPACE PROPERTY TYPE RENTAL PROPERTY ACQUIRED JUNE 2012 $15,300,000 RENTS WHEN ACQUIRED $31 TO $39 PER SQUARE FOOT OVERVIEW In 2012, the developer sought to improve the interiors and rent roll of this Renaissance Revival style loft building just off Union Square Park, which had been a middle market rental property since the last renovation in the mid-1980s. The loft units, while spacious (950 to 2,200 sq. ft.), were dated in appearance and finish, and the rents lagged below market because the units had not kept up with interior design and layout trends. BOND’S MISSION • To collaborate with the developer and their architect to preserve the prewar character of the building and also bring the property up to date on interior finishes and layouts, in order to bring the rents up to and exceed market levels. • To make recommendations about design, finish, layout that would ultimately lead to increased pricing at or above market value. • To re-brand the property to the Manhattan rental market and to establish 9 E 16th Street as a premium destination at the center of downtown culture, shopping and dining. • To represent the property as Exclusive Leasing and Marketing Agent in the gradual lease up of newly restored and renovated loft units. • To re-lease any vacancies when they would occur and to make recommendations about rent increases for both renewal leases and vacancy leases based on current market comparables. RESULTS BOND’s regular consultation and collaboration with the developer resulted in the creation of highly refined classic residential lofts that will withstand changes in decorative trends with more useful and aesthetically appealing layouts, higher level finishes, more natural light and an overall elevation from middle to high end market share. Deliberate advertising, marketing, social media and refined— but aggressive salesmanship assured brief time on market for each unit offered. As a further result of BOND’s influence, rents were elevated 70% to 100% from 2012 to 2015, with rents at the time of sale ranging between $66 and $72 per square foot, supporting a sale price of $30,000,000, nearly double the 2012 purchase price.

THE ADRIAEN 2 3 - 3 7 3 1 S T R O A D , ​A S T O R I A​, N Y CASE STUDY

DEVELOPER THE DANZIG ORGANIZATION PROPERTY TYPE NEW DEVELOPMENT BOUTIQUE CONDO INITIAL OFFERING JULY 2015 OVERVIEW Located within a ten minute commute to Manhattan, this newly built condominium offered luxuriously appointed one bedroom units with private outdoor space. Through our agent, Jennifer Rouse, BOND collaborated with the developer as construction was being completed in order to bring the property to market at sale prices not yet achieved in the neighborhood. BOND consulted on finishes for common areas and backyard, and we designed and staged model units that complemented the polished, aspirational finishes that would appeal to Manhattan buyers. BOND’S MISSION • To bring the project from its final construction stage to market, including an identity and branding campaign as The Adriaen, which would appeal to the upper end of homebuyers. • To design and execute a visual identity, logo, photography and video for use in all advertising and marketing. • To design and execute interior staging and common area décor that would elevate the already high quality property into a luxurious and living home destination. • To represent the property as Exclusive Sales and Marketing Agent, coordinating showings and leading negotiations for purchase and sale.​ RESULTS BOND achieved a complete sell out of the property at record high prices for every unit and the first condos in the area to exceed $1,100 per square foot for every unit. This project represented the first time Manhattan level condo pricing had succeeded in central Astoria.

GRAMERCY 23 160 EAST 23RD STREET, NEW YORK, NY CASE STUDY

DEVELOPER GRAMERCY 23, LLC PROPERTY TYPE GROUND UP NEW DEVELOPMENT UNITS 18 OVERVIEW BOND was initially appointed Exclusive Sales and Marketing Agent for this boutique condo in Gramercy Park, as it was finished by the developer and ready to bring to market. After we successfully generated purchase offers at top market prices, the developer’s priorities changed. The property was then offered for rental; BOND remained in place as Exclusive Leasing and Marketing Agent, and we filled the building over a single season, at highest free market rents. BOND’S MISSION • To create an identity for a finished property in a highly coveted destination neighborhood which would appeal to affluent homebuyers. • To represent the property as Exclusive Sales and Marketing Agent and achieve above-market sale prices for every unit. • To create collateral marketing materials including brochures, showsheets, photos, video and website. • To manage a seamless conversion from condo sales to rental, at the developer’s direction, and quickly fill the apartments at the top of the residential rental market. • To coordinate tenant screening, leasing administration and move-ins. • To market and identify a retail tenant for the ground floor commercial space. RESULTS BOND achieved a full lease up during the summer of 2015 at top prices reflecting the historic high rent plateau experienced in Manhattan at the time. Although we created two different campaigns, condo and rental, we were able to demonstrate great versatility in fulfilling the client’s needs in real time.

THE LINCOLN 23-33 31ST ROAD, ASTORIA, NY CASE STUDY

DEVELOPER DANZIG ORGANIZATION PROPERTY TYPE CONDOMINIUM UNITS 16 OVERVIEW Located on 31st Road and Crescent Street one of the quietest blocks in the neighborhood, this brand new boutique condominium is prime Astoria real estate. The building features luxury units and building amenities including a resident roof lounge with views of the Freedom Tower. Through our agent Jennifer Rouse, BOND collaborated for the second time with the developer while the building was still under construction to give the property an identity and bring it to market at record breaking sales prices. BOND’S MISSION • To bring the project while still in its final construction stage to market by giving it an identity and logo and creating a branding campaign as the Lincoln, which would appeal to the upper end of homebuyers. • To design and execute a visual identity, logo, and floorplans for use in all advertising and marketing. • To create a marketing campaign with included a magazine built around the new building to attract upper end and Manhattan buyers. RESULTS BOND has already set record high prices for the property, selling all units before the building has even completed construction. This project achieved Manhattan level condo pricing and exceeded the developer’s expectations with respect to pricing.

14 WEST 69TH STREET 14 WEST 69TH STREET, NEW YORK, NY CASE STUDY

DEVELOPER MILAN ASSOCIATES TOTAL UNITS 15 RESIDENTIAL UNITS PROPERTY TYPE RENTAL PROPERTY ACQUIRED MARCH 2016 $12.25 MILLION RENTS WHEN ACQUIRED $60.00 PER SQUARE FOOT NEW RENTS ACHIEVED $82.80 PER SQUARE FOOT OVERVIEW The developer acquired a vacant apartment building off Central Park, which had been previously converted from a stately mansion into 15 rental units. The apartments were dated from the late 1970s, with old and faded kitchen and bathroom installations and sleep lofts in almost every unit obscuring the ceiling heights and opulent original detail. The building required a year-long major renovation, which included the removal of all the sleep lofts and new installation of kitchens, bathrooms and other cosmetic improvements. The developer recognized the value of the dramatic original 1890s detail, and he sought to preserve or restore the elegant finish wherever possible. BOND’S MISSION • To support the developer in the search for a distinctive project where he could add value through renovation, providing rent projections and market consulting for numerous properties during the search process. • To collaborate with the developer and their architect and interior designer to preserve the prewar character of the property and also bring the apartments up to date on interior finishes and layouts, in order to bring the rents up to and exceed market levels. • To make recommendations about design, finish, layout that would ultimately lead to increased pricing at or above market value. • To re-brand the property as a premium luxury destination within the Central Park Historic District and Lincoln Square vicinity. • To represent the property as Exclusive Leasing and Marketing Agent in the gradual lease up of newly restored and renovated apartments. RESULTS BOND’s ongoing consultation and collaboration with the developer resulted in the creation of 15 unique homes that dramatically surpassed the luxury design level of any competing property in the area. The property launched on time, with a solid identity and marketing campaign, at prices at least 38% higher than the building had previously accomplished.