All stories about "Dolly Lenz"

Curbed Roundtable: July State O' the Market Report

Summer doldrums be damned, it's friggin' market report day, people! We're talking Q2 this time around, and the results should surprise no one. Just like the first quarter of 2008, prices are at record levels but sales are down from this time last year. Miller Samuel's report for Elliman has the average Manhattan sales price at $1,669,729, a 25.2% increase over the prior year quarter result of $1,333,316. Gregory Heym's Halstead/Brown Harris Stevens report has the average at $1,663,533, a 36% increase over his numbers in Q2 2007. Of course we can't forget the asterisk, and indeed both reports cite closings at 15 Central Park West and the Plaza for driving up averages. Imagine what those $80-$100 million 15 CPW apartments will do to the numbers if they sell! Interestingly, on a quarter-to-quarter basis, both of these averages are down from their respective Q1 reports. That's not as crazy as it sounds, though. According to Miller Samuel research, there was a 5% decline in average sales price from the third to fourth quarter of 2006. Without 15 CPW and the Plaza included, the average sales price would still be above the 2007 levels by double digits.

But what about median prices and inventory? And what about Dolly? >>

Dolly & Donald in War of Words Over $100M Sale?

In the next few weeks, Donald Trump will sell his Palm Beach estate Maison de L'Amitie to a Russian fertilizer baron (!) for a reported $100 million, and in Max Abelson's account of the deal in this week's Observer, we couldn't help but notice that relations seem a little frosty right now between The Donald and Dolly Lenz—our nation's greatest superbroker. The Prudential Douglas Elliman vice chairman had the Trump listing at one point, but it traded hands a couple times before selling. Did the Maison de L'Amitie sour Dolly and Donald's years-long business relationship? The headline does refer to her as "spurned." Let's cut to the video tape for analysis:

The voice in Donald's head doesn't have the best memory. >>

The 37 People More Powerful than Donald Trump

Shaking us out of our post-Kanye hangover (who knew an architecture critic could put on such a good show?) is this week's Observer, which carries quite the extravaganza: The 100 Most Powerful People in New York Real Estate. The list was constructed in a very eco-friendly manner: it's all about the green. Or in the Observer's words: "The list, especially higher up, contains those who animate the deals and the trends. They are the deciders and the money providers." The top dog, in an entry that was probably feverishly rewritten over the past few days, is Tishman Speyer CEO Jerry Speyer. The deuce spot goes to Mayor Bloomberg, and #3 is one of New York's more prominent Steves, Related CEO Stephen Ross (Vornado's Steven Roth is at #24). The highest-ranking broker is Elliman's controversial spark plug Dolly Lenz, at #25, and her former protegé and current nemesis Michael Shvo is the last to be included, at #100. In Shvo's eyes, we're not sure what would be the bigger insult: being last on the list, or being left off it entirely. We'd ask, but the sound of the Dubai wind whipping through his immaculate coiffure would probably make it too loud for him to hear us. Donald Trump, burn, is #38.
· The 100 Most Powerful People in New York Real Estate [NYO]

CurbedWire: Nolita Trailer Ain't Trash, More Q1 Controversy

NOLITA—A tipster sends in the above curious photo of an Airstream trailer being dropped off at the construction site at Elizabeth and Prince Streets, demanding more info on said curiosity. We've learned that the new 7-story boutique condo building at 211 Elizabeth Street will use the Airstream as its showroom, and it will be set into the ground floor of the building. The whole shebang is being unveiled tomorrow, and we'll have much more to say about this building then. [CurbedWire Inbox]

BROKERVILLE—Dolly Lenz has already made her opinions felt regarding the discrepancies between the Prudential Douglas Elliman first-quarter sales report and the far sunnier Halstead/Brown Harris Stevens report, and now Halstead/BHS chief economist Gregory Heym (who prepared the report) has weighed in as well. In a memo sent to all agents in the company, he wrote: "Last week, we released our First Quarter Market Report for Manhattan based on closed sales and our competitors released their own individual reports as well. One of the other reports stated that the number of sales had fallen 34% compared to the first quarter of 2007. This decline in sales was widely reported in the media, along with our findings of only a 1% decline in the number of sales. The main reason for this discrepancy is how many sales actually closed during the first quarter of 2008."

So how did he calculate it? >>

Dolly Doubts Severity of Q1 Sales Drop

The major brokerages' first-quarter sales reports were released this week, and one of the biggest headlines was the drop in number of sales over Q1 of last year. Most of the press coverage seized on that stat, with the point being, sure, prices are at record highs, but those numbers are inflated by the super-luxury market, and the outlook is much more grim. Prudential Douglas Elliman reported the sharpest drop in sales volume by far, claiming a 34% fall in Manhattan deals. This apparently caught Elliman Vice Chairman Dolly Lenz—perhaps the city's biggest superbroker—off-guard. In a company-wide e-mail, she wrote:

I do not agree with the assessment of "our" report but that being said, two major financial institutions which I spoke with today requested an explanation to today's New York Sun's story about Corcoran being up 5% in sales volume while we are down 34% for the same period.

How can that be possible?

She went on. >>

CurbedWire: Controversy at The Ellies?, 8USS Goes Neon

BROKERLAND—As The Real Estate reports, lunch today found the powers that be at Prudential Douglas Elliman celebrating the firm's Broker of the Year awards at Cipriani 42nd Street. The number-one ranked broker at the firm? The inimitable Dolly Lenz, of course, who made a brief appearance. ("I only got there for the last few minutes," she tells TRE. "I was in a meeting, literally, with a major banking group, and should not have gone.") All well and good, yes? Perhaps not: we've heard rumors this afternoon that the actual firm leader in commission income for 2007—topping even Lenz—was Jacky Teplitzky, who manages her own team inside the firm. In fact, PDE did name Teplitzky's team the top-ranked sales group for 2007—but, hmm, can the PDE kingdom endure two queens, each with claim to the first-place, number-one, blue ribbon? Conspiracy theories to tips@curbed.com, please. Meanwhile, per The Real Deal, the rest of the top sales groups: Tamir Shemesh Team, Bracha Group, Kotler Group, Roth-Sporn Group, Deniro Group, Daniela Kunen Team, Sukenik Group, Leonard Steinberg Team and Ruth Hardinger Team. [CurbedWire Staff]

CENTRAL VILLAGE—There's an advertiser out there looking to pitch his/her wares to a very select group of consumers: the residents of 8 Union Square South. Writes a tipster: "I was walking home about a week ago and noticed that there was a new benefit to living in the model-thin building erected at University and 14th: a large, animated neon-pink advertisement was being projected onto the wall of the building that houses Whole Foods et. al. Since most of the floor-to-ceiling windows face this wall, I wonder if the residents are happy about paying seven figures to have a neon ad blasted into their living room?" We've rarely seen more than two apartments' lights on, so we figure wherever 8USS's buyers are, they probably don't care all that much. [CurbedWire Inbox]

Celebrity Real Estate Wrap: Zucker's New Kitty

1) NBC boss Jeff Zucker closed on late actress Kitty Carlisle Hart's old 11-room apartment in the classy Verona on East 64th Street and Madison, for $12.3 million. Stick that in your online residuals, Writers' Guild! [The Real Estate]

2) The Tribeca penthouse Law & Order: SVU star Mariska Hargitay recently sold for $5.1 million had a private underground parking spot Hargitay likened to the Batcave, so her new place had to be unique, and it is: she bought one of the controversial gold domes at the O'Neill Building in Chelsea for $7 million. That's one ill building! [Big Deal/Josh Barbanel]

3) The gigantic condo conversion of the gigantic Manhattan House is being overseen by the gigantic (figuratively) Dolly Lenz, so don't expect the Upper East Side complex to go long without a mention in the papes. This week's celebrity sales office sighting is legendary Miami Dolphins QB Dan Marino. [The Real Estate]

Floorplan Porn: Manhattan House Unveiled

[4BR, 4.5BA, 3029sf, $5.95M]

The Manhattan House, the ginormous East 66th Street condo conversion spearheaded by superbroker Dolly Lenz, may still be in "pre-grand opening" per the website, but the action is coming fast and furious. A handful of listings popped up on the Elliman page (search for 200 East 66th Street), and just as expected, the apartments are huge and expensive. Above, some double-barrel balcony action courtesy of one of the pricier listings to go public. Not seen: the future 10,000sf rooftop with club room, gym and spa. A tipster writes, "Keep in mind that Second Avenue apts now
look into new cancer hospital." Noted.

A few more looks this way. >>

Team Lenz Mobilizes on UES' Manhattan House

Don't tell Miraval Living, but another massive Upper East Side condo conversion is taking up most of superbroker Dolly Lenz's time. It's the Manhattan House, the 583-unit white brick megacomplex that takes up East 66th Street between Second and Third Avenues. After much controversy, the Sun's Bradley Hope reports that the various legal albatrosses of the conversion have been resolved, and Lenz has assembled a team of seven brokers to quietly begin showing the units. Manhattan House was purchased for a record $625 million, and they've pumped another $150 million into renovations, so the prices are staggering but not unexpected: $1,400-$2,300 per square foot in a neighborhood with an $1,139/sf average. Many apartments will be combo jobs, such as a $14 million corner penthouse with four fireplaces and 6,000-square-feet of space. Yowza. The Manhattan House blog reports that the owners' loan terms say they have to sell 15% of the units by June 1, which if you believe Lenz, won't be a problem at all.
· Manhattan House Has Brokers Revving Up [Sun]
· 200 East 66th Street Blog [200east66thstreet.blogspot.com]
· Manhattan House Condo War Details [Curbed]

[Photo via The City Review]

Miraval Living to Durst: Not in Our Backyard Zen Garden

Well that was fast. The Miraval Living folks knew they had a PR nightmare on their hands when the Post reported that killer crossdresser Robert Durst was considering buying in the building, so they lawyered up and figured out how to block him. Today, a Miraval attorney tells the paper that, "The sponsor has reserved to itself the right to not sell an apartment to anyone that the sponsor believes would have an adverse impact on the unit owners at Miraval Living." We're guessing that dismemberment qualifies as an "adverse impact." New Miraval broker Dolly Lenz, the pro of all pros, knows how to spin the situation: "While I understand the desire of many to inquire about our unique property, Mr. Durst's residing here would be completely inconsistent with the environment we're creating." An environment, again, with little to no murder.
· Condo-maniac Turned Down [NYP]
· Not the Type of Publicity Miraval Living Was Hoping For [Curbed]

Manhattan High-End Market's 'Quickest Change Ever'

"I think from a $10 million and up buyer, there is definitely a change in the last three weeks. It is a very rapid change, to the quickest change I have ever seen in the marketplace, where people are really thinking about their purchases versus just running in and making a bid and securing the property. They're taking longer to think about it and looking at more things and taking a breather."

That's Dolly Lenz, Prudential Douglas Elliman's chief exec, hitting the panic button for high-end Manhattan real estate. (Bonus Lenz: "The high-end market is one of confidence—it's pure, pure confidence, and the minute the confidence isn't there, that's when the attitude changes.") Confidential to the folks selling the $11.5 million listing seen here: don't roll up your zebra rug just yet.
· A Crack in Manhattan Real Estate [CNBC]
· High-End NYC Real Estate Cools Along With Stocks [NYSun]
· Cracks May Appear in Manhattan Apartment Market [Reuters]

It Happened One Weekend: Lenz 'Not Allowed In', Comes Anyway, Puts Feet Up, Stays Awhile

1) Elliman broker Dolly Lenz is one of the industry's major power players. So if she wants to keep her name on a listing even when the owners have asked her to step aside to make way for new brokers, can you blame her? Josh Barbanel digs into the curious case of the condo conversion underway at 813 Park Avenue, of which a rival broker says of Lenz, "The dispute is greatly complicating our job. She is not showing in the building; she is not allowed in the building." Rawr! While this most excellent catfight rages on, if you're looking to buy at 813 Park, vote your allegiance by visiting either listing for the $15.990 million penthouse (above): the bright, peppy Stribling listing, or the hushed, earthtone Lenz version. (Previous Curbed coverage of 813 Park: Diddy Slept Here and some Funky Friday penthouse fun.) [Josh Barbanel/Big Deal]

2) Also of NYT Real Estate Section front page note this week: technomenities! Which is to say, that iPod port in the wall of the new development you looked at yesterday that just increased the asking price by $25k. Bonus color from our beloved North8 in Williamsburg, re: previously mentioned iPod amenity: "There was a really good response. Anyone who has been to that model really thinks it is a great idea. We'll have to consider it in future projects." [Lisa Keys/Wired to Sell]

3) From the Meatpacking District, MeatBoard smacktalk from a Gansevoort Hotel rep: "The billboards aren’t really that bad. It's just that all the activists in the neighborhood are rallying around them." [Alex Mindlin/Street Level]

4) Over a thousand protesters gathered outside the new Sheraton Hotel development in Brooklyn on Friday to protest the use of non-union, illegal immigrant workers on the project. We were in our car Friday, and 1010WINS was having a field day with this one. [NYPost]

5) Can Prospect Park's Wolman Rink perhaps accommodate both bathing in the summer and ice skating in the winter? Sure! Is it likely to? Surely not! Thanks for playing! [Jake Mooney/City Section]

Cool Kids Won't Let Dolly Lenz Hang

In what will probably be the most awesome thing you read all week, the Observer's Max Abelson chatted with the city's superbrokers abouts what makes them tick, and best of all, how they get along with the rest of the group (they kinda seem like the elite high school clique that walked through the halls and wouldn't make eye contact with others). They pretty much all love and respect each other like good little humans, but there is one notable exception: Elliman vice chairman Dolly Lenz. It doesn't really seem like anybody likes her, and we can't understand why:

“They have ballroom dancing, tennis, golf—whatever they do,” Ms. Lenz told The Observer. (Ms. Chiang, incidentally, is a competitive ballroom dancer.) “But if you have no other outside interest, and this is your passion and life and job, then it’s going to be different.

“I don’t do anything else,” Ms. Lenz said. “In other words, everything else suffers as a result.” So real estate is both profession and pastime? “And my hobby, and my children, and my husband.”

We can't. Understand. Why.
· Manhattan’s Mightiest Brokers: A Peer Review [NYO]