BOND Property Marketing Group Case Studies

BOND PROPERTY MARKETING GROUP CASE STUDIES

9 E 16TH ST9 E 16TH STREET, NEW YORK, NYCASE STUDY

DEVELOPER MILAN ASSOCIATESTOTAL UNITS 15 OVERSIZED ARTIST STYLE LOFTS + RESTAURANT SPACEPROPERTY TYPE RENTALPROPERTY ACQUIRED JUNE 2012 $15,300,000RENTS WHEN ACQUIRED $31 TO $39 PER SQUARE FOOTOVERVIEWIn 2012, the developer sought to improve the interiors and rent roll of this Renaissance Revival style loftbuilding just off Union Square Park, which had been a middle market rental property since the last renovationin the mid-1980s. The loft units, while spacious (950 to 2200 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.RESULTSBOND’s regular consultation and collaboration with the developer resulted in the creation of highly refined classicresidential lofts that will withstand changes in decorative trends with more useful and aesthetically appealinglayouts, 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 onmarket for each unit offered. As a further result of BOND’s influence, rents were elevated 70% to 100% from2012 to 2015, with rents at the time of sale ranging between $66 and $72 per square foot, supporting a saleprice of $30,000,000, nearly double the 2012 purchase price.

THE ADRIAEN2 3 - 3 7 3 1 S T R O A D , ​A S T O R I A​, N YCASE STUDY

DEVELOPER THE DANZIG ORGANIZATIONPROPERTY TYPE NEW DEVELOPMENT BOUTIQUE CONDOINITIAL OFFERING JULY 2015OVERVIEWLocated within a ten minute commute to Manhattan, this newly built condominium offered luxuriously appointedone bedroom units with private outdoor space. Through our agent, Jennifer Rouse, BOND collaborated with thedeveloper as construction was being completed in order to bring the property to market at sale prices not yetachieved in the neighborhood. BOND consulted on finishes for common areas and back yard, and we designed andstaged 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.​RESULTSBOND achieved a complete sell out of the property at record high prices for every unit and the first condos inthe area to exceed $1,100 per square foot for every unit. This project represented the first time Manhattan levelcondo pricing had succeeded in central Astoria.

GRAMERCY 23160 EAST 23RD STREET, NEW YORK, NYCASE STUDY

DEVELOPER GRAMERCY 23, LLCPROPERTY TYPE GROUND UP NEW DEVELOPMENTINITIAL OFFERING 18OVERVIEWBOND was initially appointed Exclusive Sales and Marketing Agent for this boutique condo in Gramercy Park, as itwas finished by the developer and ready to bring to market. After we successfully generated purchase offers at topmarket prices, the developer’s priorities changed. The property was then offered for rental; BOND remained in placeas 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, show sheets, 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.RESULTSBOND achieved a full lease up during the summer of 2015 at top prices reflecting the historic high rent plateauexperienced in Manhattan at the time. Although we created two different campaigns, condo and rental, we wereable to demonstrate great versatility in fulfilling the client’s needs in real time.

THE LINCOLN23-33 31ST ROAD, ASTORIA, NYCASE STUDY

DEVELOPER DANZIG ORGANIZATIONPROPERTY TYPE CONDOMINIUMINITIAL OFFERING NEW DEVELOPMENT CONDO SALE BUILDINGOVERVIEWLocated on 31st Rd and Crescent Street one of the quietest blocks in the neighborhood, this brand new boutiquecondominium is prime Astoria real estate. The building features luxury units and building amenities including aresident roof lounge with views of the Freedom Tower. Throughout our agent Jennifer Rouse, BOND collaboratedfor the second time with the developer while the building was still under construction to give the property anidentity 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 xxBOND has already set record high prices for the property, selling all units except for before thebuilding has even completed construction. This project achieved Manhattan level condo pricing and exceededthe developer’s expectations with respect to pricing.

14 WEST 69TH STREET14 WEST 69TH STREET, NEW YORK, NYCASE STUDY

DEVELOPER MILAN ASSOCIATESTOTAL UNITS 15 RESIDENTIAL UNITSPROPERTY TYPE RENTALPROPERTY ACQUIRED MARCH 2016 $12.25 MILLIONRENTS WHEN ACQUIRED $60 PER SQUARE FOOTOVERVIEWThe developer acquired a vacant apartment building off Central Park, which had been previously converted from astately mansion into 15 rental units. The apartments were dated from the late 1970s, with old and faded kitchenand bathroom installations and sleep lofts in almost every unit obscuring the ceiling heights and opulent originaldetail. The building required a year-long major renovation, which included the removal of all the sleep lofts andnew installation of kitchens, bathrooms and other cosmetic improvements. The developer recognized the valueof the dramatic original 1890s detail, and he sought to preserve or restore the elegant finish wherever possible.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 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.RESULTSBOND’s ongoing consultation and collaboration with the developer resulted in the creation of 15 unique homesthat dramatically surpassed the luxury design level of any competing property in the area. The property launchedon time, with a solid identity and marketing campaign, at prices at least 30% higher than the building hadpreviously charged.