Property Grunt

Monday, July 11, 2005

Dark Water: Roosevelt Island

Curbedand Gothamist recently did stories on the setting of the movie Dark Water starring the beautiful Jennifer Connely who the Grunt fell in love with in the movie Career Opportunities co-starring Frank Whaley Kilmer, Labyrinth with David Bowie and of course the Dave Stevens classic Rockteer

Curbed and Gothamist did a nice rundown of the Island but the Grunt would like to throw in his two cents.

One of the big residential attractions of Roosevelt Island is Manhattan Park. Its a great residential complex with good rents but what makes it even more attractive is that the building is an OP building offering a very generous three month fee to brokers who bring clients to their building and it is an ideal location for international employees since it is near to the UN and the rent is very low comparing to Manhattan.

However it is an acquired taste because of its location. Roosevelt Island is not the lower east side when it comes to nightlife and places of amusement. From what the Grunt has heard on the wire its pretty quiet especially at night and parts of it are quite industrial. So if you are looking to party like a rockstar your going to be commuting alot and if you are ordering out at night you will most likely be calling Long Island City. If you despise cold weather you might want to reconsider since it gets quite windy during the winter.

Despite these drawbacks, the Grunt knows of one broker in particular who has been quite successful with the area by implementing certain tactics to sell Manhattan Park. The broker would always drive clients into Roosevelt Island impressing the client that they were being professionally catered to however the ulterior motive of driving in was to avoid certain areas of Roosevelt Island that would surprise clients including a hospital that had handicapped patients.

The broker in question referred to these patients as wheelies since their own source of moblity were wheelchairs or other wheel based modes of transportation. Yeah. I don't think Christopher Reeve would have approved of the term either. These handicapped patients would often depart from the hospital en masse at certain times of the day mixing with the general population of the island. So the broker always scheduled their appointments around their timetable in order to avoid them. If by chance a client were to see a handicapped person, the broker wouldn't miss a beat and spin a story sympathizing their plight and of the hospital. What a sweetheart.

By controling the situation the broker would sell Manhattan Park as the best deal of all the city because of the transportation, the quick commute to the city, low rent, amenities and of course it was NO FEE. By pointing out these attributes and avoiding the deterrents of the area the broker often closed many a deal therefore turning Manhattan Park into their own little gold mine.

Its one of the simple but brilliant strategies of finding a niche, understanding its weaknesess and strengths and marketing the hell out of it. This is a basic tenet of law that all successful brokers follow from the Shvos to the Baums of the world. Know your inventory cold and know how to sell it to anyone.

PLEASE BEAR IN MIND THAT CLIENTS MAY HAVE TO PAY A FEE TO THE BROKER FOR MANHATTAN PARK DUE IN PART OF THE DWINDLING SUPPLY OF INVENTORY AND THAT ENORMOUS DEMAND FOR APARTMENTS. THE GRUNT HAS SEEN A TREND WITH LANDLORDS AND PROPERTY MANAGEMENT COMPANIES WHO ARE WELL AWARE OF THE CURRENT STATE OF THE MARKET AND SEE NO NEED TO PROVIDE INCENTIVES AND MANHATTAN PARK MAY HAVE FOLLOWED SUIT.