News
MULTIFAMILY MONDAY: Smart Marketing
July 19, 2010
| Quality luxury condos are moving in Manhattan—but only if you're quick to react to the shift in buyers and steer the ship in the direction of the market, say East Egg Realty CEO Leslie French and SVP David Strout, who've assisted the 68-unit Soho Mews at 311 West Broadway sell 60% of its units in the past three months. |
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| We snapped Leslie and David last week in the development's focal point, the 4k SF private garden. The two-building project, which has since obtained Fannie Mae approval, is designed by Gwathmey Siegel & Associates Architects. Instead of marketing through print and traditional passive tactics, they combine online and offline resources (like database marketing platforms) to target consumers, they say. Foreign buyers from South America and Asia are particularly active, and Europeans are returning to the market. They also see movement from the West Coast and young families. |
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| Leslie says keep the consumer engaged and informed, and provide buyers info before they walk in the door, and then remain in contact.Customer relationship management is key, David adds—he's seen marketing teams have potential buyers tour luxury developments alone. Guide shoppers through the building to discover their true needs and preferences—it could be something as simple as an amenity or a view (Soho Mews has three: the private garden; the classic, cobblestoned Wooster Street, pictured; and the modern,bustling SoHo). And East Egg knows the luxury buyer. If you don't recognize the name, it's a reference to "The Great Gatsby"—Leslie and co-founder Jonathan Cifuentes are native to Long Island's North Shore and Manhattan, and were inspired by a passion for Long Island's Gold Coast estates. |
