Property Grunt

Monday, March 03, 2008

And you give me a paine Elaine

Actually she doesn’t. I’m just making a reference to the Stella Pevsner book.

Elaine Clayman is considered to be one of the big guns of not only of Brown Harris Stevens but also of her profession. From what I can recall, at one point she was part of a select group that had listings worth the GNP of a small country. As a titan of the industry, she does not just bring home the bacon; she brings the whole f**king IHOP. Among the benefits of her success is a rumored ranch in Latin America and a powerful presence where even the powers that be of Brown Harris walk very softly around her.

She also has her own group, which is not surprisingly called the Elaine Clayman group and includes her daughter, the rather attractive Justine. Ms. Clayman’s is so big that she even has her own marketing team.

Brown Harris Stevens is considered to one of the premiere white shoe firms. One of their biggest deals was the Rupert Murdoch purchase of his apartment at 834 5th. Brown Harris Stevens prides itself on this image of respectability and prestige. Anything that denotes otherwise isn’t just frowned upon. It is given a pair cement shoes and tossed into the east river.
At one point they enforced a policy prohibiting craigslist which obviously they have changed.
And it was rumored at one point to have been one of the parties that were approached to purchase Citi-Habitats before they were sold off to Corcoran. Allegedly Brown Harris Stevens outright refused to consider it due to the, how should I put it, the difference in broker culture.

Which is the reason why I was completely baffled when Curbed published the Clayman Group ad proclaiming

Chelsea Penthouse Foreclosure Sale.

If you go to the ad now, they have completely changed it removing any mention of the word foreclosure and in fact the entire ad has been changed in a more positive tone.

How this came to light, I do not know. Someone like Elaine Claymn and Brown Harris Stevens would never allow themselves to be associated with the word foreclosure. Distressed maybe or motivated seller but not foreclosure.

Why did this occur? There are two possibilities.

1.Somebody f**ked up.
2.The Manhattan market is more f**ked than we are led to believe

The Grunt is going to go for door number 2. When it comes to marketing, there are fubars, I know this from my personal experience. But there are checks and balances in place to prevent that type of douchebaggery.

From the Curbed comments, it appears this listing has been on the market longer than Britney Spears has been without panties. And it might not be the only one to join the ranks of the foreclosed.

Wall Street is getting its ass kicked in on a daily basis, the economy is getting pummeled and PODUS is in denial about a recession which is the same thing his Dad almost 20 years ago. That being said, it is not a matter if but when Manhattan will fall in line with the nation’s housing market.