Boroughs & Burbs, the National Real Estate Conversation

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This week we talk to Lisa Lippman and Curtis Jackson, two of the top agents in New York (and she's #14 in the nation) to get at the truth behind what just happened in 2020 and where is it heading.

The New York Times just wrote about "The Great Collapse of 2020" saying that "rent in Manhattan had fallen to a level not seen since 2010, and hundreds of the must vulnerable renters faced the prospect of eviction..." comparing the situation to the Great Recession, "when prices fell nearly 10 percent"

The Real Deal wrote in "A Garbage Year, The State of Manhattan's Luxury Resi Market in 2020" that contracts declined by 31% and "though the market later rallied, it wasn't enough to get close to the 935 contracts signed in 2019"

Meanwhile, Fortune writes that "New York's luxury real estate market should enter 2021 with confidence" and Inman wrote 4 hours ago "this city is poised to become the hottest real estate market of 2021"

What can we believe? We ask the experts in the market.

Lisa Lippman is one of the The Wall Street Journal top 20 agents in the country (every year) and has sold $43 million of real estate in New York since June when the market opened back up. Curtis Jackson has been named by New York Magazine as one of the top 20 brokers in Manhattan.

Lisa Lippman has done 10 deals totaling almost $42,000,000 since the NYC real estate market re-opened on June 22nd. Ranked #1 at Brown Harris Stevens most recently and for the last four years in a row — 2016, 2017, 2018 and 2019 and consistently in the top 50 Brokers in the USA, she has been a top producing broker for over 23 years.

Our second guest, Curtis Jackson specializes in the Upper East Side and Upper West Side and also has deep familiarity with Downtown's many exciting established and evolving neighborhoods. He believes New York City offers enduring value as a result of its strength as a globally recognized center of culture and commerce, and enjoys helping his clients make the most of its dynamic real estate market. Since Curtis joined Brown Harris Stevens in 2004, the firm has named him Listing Broker Of The Year for the Upper East Side Office five times and has named him Broker of the Year for the Upper East Side Office six times, most recently in 2015. In addition, New York Magazine has named him one of the Top 20 Brokers in Manhattan. 

About Boroughs & Burbs:

Roberto Cabrera - With 20 years of experience, I have been recognized throughout the industry for achieving outstanding results: Ranked nationally by REAL Trends as one of "America's Best Real Estate Agents” for avg. sales price of $4.350M. Sold a single family Townhouse faster than any other on the Upper West Side over $10M. I live with my wife and daughter on the Upper West Side, the neighborhood I have called home for the past 23 years. 

John Engel - John Engel is a consistently top-producing agent in Fairfield County, Connecticut. John recently won the 2019 Realtor of the Year Award in New Canaan where he is currently the Chairman of the Town Council. John also brings an insight into internet-based marketing that is unsurpassed. Before going into real estate he was the founder of two successful internet businesses, Paper.com and e-Media for which he won the prestigious Entrepreneur of the Year Award. John spent his earliest years in Stuyvesant Town (before it was cool) and finished his growing up in New Canaan before attending Davidson College in North Carolina. After graduating, he served as an officer in the U.S. Army and spent some time leading a military intelligence platoon on the front lines of the first Gulf War. He currently lives in New Canaan with his wife Melissa and four children. In addition to hosting this podcast on the market each week, John Engel produces an easy-to-understand and in-dept

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The Value of High Style

The Value of High Style is where we talk to a top designer and a top art collector, two men who make their living knowing the difference between good and great, as we try and understand the relationship of great design with real estate.  

John Barman has been honored as one of the AD100 by Architectural Digest, one of “The City’s Best 100 Architects and Designers” by New York Magazine, and his work has been featured in the New York Times, Esquire, Interior Design, Traditional Home, and W, among other publications. His renowned clientele includes Wynton Marsalis, George Stephanopoulos and Alexandra Wentworth, Leonard and Allison Stern, Bryant Gumbel, Stone Phillips, Neil Simon, and Larry Silverstein. Barman was born and raised in New York City, and graduated from the Wharton School at the University of Pennsylvania before turning to interior design and founding his eponymous firm.

Our second guest, Richard Grossman, is best known as the President of Brown Harris Stevens where he manages all of the regional offices. What most people don't know about Richard is that he is a collector and expert in the subjects of midcentury modern architecture, contemporary and midcentury modern furniture and contemporary art at the very highest levels. We've all heard of the mythical Ferrari in the barn stories. Richard lives that myth. He and his husband Adam discovered a long- abandoned and crumbling apartment in the famed midcentury-modern Butterfield House, purchased it and undertook an extensive 2-year restoration. He has promised to give us a glimpse of the apartment during the show. What I want to know from Richard is where is the line between doing it for the passion versus making a wise investment? What is the value of a name brand architect or a name-brand designer? How has that changed? We want to understand Richard's process of choosing architects and designers, what went right, and what can we learn from his experience. Lastly, I want to point out a recent story in the Wall Street Journal that quotes Richard entitled, Custom Art is Helping High-End Homeowners Paint a Clearer Picture where he is quoted as saying, “Art by a well-known artist can also lend a cachet to the property, which is particularly important in higher-end listings . . . Walking into a home with high ceilings and a 9-foot high Christopher Wool painting in the foyer is very dramatic—and it certainly says someo

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Christopher Peacock is a very big deal. I thought he was just a kitchen designer. He is a lot more than that. He is an international brand with 11 showrooms across the USA, Cannes, France and Jakarta, Indonesia. According to a New York Times feature on the business his company installs over 210 kitchens and 100 or so mud rooms, bathrooms, dressing rooms, libraries, wine tasting rooms and butler’s pantries. They credit Peacock for the now 20-year-old trend in white kitchens.

We sat down with Christopher for a frank zoom conversation about his brand, the industry, and the impact of kitchen design on real estate in the New York tri-state area.

HISTORY: Christopher began his career in London before stops at the Boston Design Center and the Architects and Design Building in New York before opening a showroom in Greenwich in 1992. We'lI want to hear about the evolution of the brand over these 40 years, from man designing to multinational presence. 

BRAND DIFFERENTIATION: What is “hand-crafted British cabinetry” and what makes a Peacock design special? What's special about a $185,000 kitchen? 

SUSTAINABILITY: Let’s talk materials and sustainability. The world has changed since he began in the business and a great deal more attention is being paid to where we source our woods and the sustainability of old-growth forests. How has this affected the industry, both in terms of what customers are demanding and how you’re responding? 

THE SHOWROOMS: Why is it important to have 9 showrooms in the USA and two overseas? What is the best way to experience the brand to appreciate the difference? 

HIGH POINTS: You mention working for the Clintons private residence in Chappaqua, NY. What was that like? I imagine they need a lot of bookcases. Maybe a special cabinet for Bill’s saxophone? 

BUILDERS AND ARCHITECTS: How do you work with architects and builders. I would imagine that most architects say I don’t need a separate designer for my kitchen and baths. How does a specialist like yourself work with builders and architects? 

TRENDS: How is the business changing since the pandemic began? How are tastes changing generally? 

ECONOMICS: Let’s talk about what makes a kitchen or bath a “good value” or an “investment” in the home.

10 items Christopher Peacock said clients have asked for but don't often use:

- Pot-filling faucet 
- Pantry dishwasher 
- Pantry refrigerator
- Kitchen desk 
- Trash compactor 
- Large microwave 
- Rangetop grill 
- Two-tier island countertops 
- Large island 
- Appliance garage

10 items Christopher Peacock said we don't think to ask for, but should consider:

- Refrigerator and Freezer Drawers
- Two dishwashers 
- Warming drawers 
- Small microwave 
- Bookshelves 
- Tray storage 
- Roll-out drawers 
- Message center 
- Marble countertops 
- Wood countertops

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Disruption, Dislocation & Details

This week's show is built around what you need to do and who you need to get help from when things go wrong before, during and after you buy or rent a home.
"I want to buy that house but should I be concerned it is in a flood zone?"
"The co-op apartment above me had a major plumbing issue and now my apartment and fine art has been ruined by water damage - now what?"
"I don't want to live here anymore. Can I break my lease and leave?" 
 
Two experts that know about disturbance:

John Allen is going to talk with us about some areas of insurance that affect our buyers and what we can do to point them in the direction about protecting their most important purchase. Chubb Insurance is a firm that has built a reputation for going all the way for their clients. What does all the way mean? I found on the Chubb website that they "will pay to have your home repaired or rebuilt to its original condition - even if the cost exceeds your policy limit". It makes me wonder how can they afford to do that? We are going to ask John some key questions about what do we need to know about insurance for ourselves and our clients especially these days.

Our second guest, Phil Horigan, is the founder of LeaseBreak.com, the source of short-term furnished rentals in New York City. Before Leasebreak hit the scene in 2013, furnished short term rentals were also very difficult to find because there was no one place people could go to see the thousands of available furnished short term rentals at any given time. You had to look on multiple websites in order to find temporary housing, or ask every landlord if they would allow furnished short term rentals (95% said no). Leasebreak’s job is to provide one marketplace for all of these furnished short term rentals along with rooms for rent, leasebreaks, and sublets. Not only does Phil help you find a place, he helps you break your lease so you can go get a better place with your favorite realtor.

About Boroughs & Burbs:
We are excited to share with you our weekly wide-ranging zoom conversation with real estate experts from around our area. We will be joined by various guests each week, hosted by John Engel in Connecticut and Roberto Cabrera in New York. 

Roberto Cabrera - With 20 years of experience, I have been recognized throughout the industry for achieving outstanding results: Ranked nationally by REAL Trends as one of "America's Best Real Estate Agents” for avg. sales price of $4.350M. Sold a single family Townhouse faster than any other on the Upper West Side over $10M. I live with my wife and daughter on the Upper West Side, the neighborhood I have called home for the past 23 years. I was originally born in Richmond, Virginia and grew up in Maryland, just one mile south of the Mason Dixon line. After graduating with a degree in Mathematical Economics from Hampden-Sydney College,  I spent 5 years in Washington, DC working as a financial consultant. I also studied at The National Conservatory of Dramatic Arts and I’m a former actor who once moonlighted as a stand-up comedian.

John Engel - John Engel is a consistently top-producing agent in Fairfield County, Connecticut. John recently won the 2019 Realtor of the Year Award in New Canaan where he is currently the Chairman of the Town Council. Before going into real estate he was the founder of two successful internet businesses, Paper.com and e-Media for which he won the prestigious Entrepreneur of the Year Award. John spent his earliest years in Stuyvesant Town (before it was cool) and finished his growing up in New Canaan before attending Davidson College in North Carolina. After graduating, he served as an officer in the U.S. Army and led a military intelligence platoon on the front lines of the

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This week on the show we get back to our roots, New York and Connecticut, with a top agent in each market. 

Mike Lubin is unquestionably one of the brightest stars in New York real estate for the past decade. Ranked by the Wall Street Journal as #12 in New York City and #135 in the nation for sales volume, he sells real estate at the very highest levels. You'll see over 335 co-op and condominium sales on his website, and his 34 current listings range from $7.7 million townhouse in Chelsea to a fresh one bedroom in the West Village for $450,000. (dang, already under contract!)  What I want to know from Mike is how do you differentiate in the nations largest and most competitive market?

Amanda Spatola is one of the top agents in what has in one year become one of the top markets in the area, Darien and Rowayton on Connecticut's Gold Coast. Coming out of the investment banking industry is it any wonder that she comes at the real estate industry with such an analytical eye. We have a lot of new agents watching the call and many of us are wondering what is her secret sauce: how has she become such a success in such a relatively short period of time?

In addition to asking these two agents about their particular paths to success, we want to know about the current state of the market, specifically:

Mike Lubin, which demographic do you see the most movement so far? Empty-nesters? Young families? Pied-a-terre buyers? Etc. Where are they going? And where are they going to? Are the moves temporary or permanent? For the most part, we all understand the benefits of the “upgrade” trade; however, since the rental market is SO depressed in New York (more so than the sale market), have you seen anyone cashing out to temporarily rent, while they wait to capitalize on that upgrade later? To be in a more liquid position and/or not having to sell in order to buy later? Are there neighborhoods where you are seeing more movement than others? Has that created opportunity? Where are the best opportunities for value, in your mind? New development? How risky is it to buy in a new development that is less than 50% sold? Do you see any new developments in jeopardy of wiping out their equity? If so, would a substantial pricing adjustment follow? If so, how will that affect the others? Is there any urgency right now?

Amanda Spatola, talk to us about the "upgrade" trade in Connecticut. Historically one-third of buyers were trading up into the Darien market from less expensive towns in the area, one third were cross-town moves upsizing and downsizing and one third were from out of the area. Maybe those ratios have been disrupted? Now, with diminished inventory levels and rising prices are you seeing some of those buyers getting priced out of the market? Are builders stepping up to meet the demand? Is the pandemic changing how people view the Darien and Rowayton markets? With ridership levels down, has the easy commute become a relatively less important consideration versus other factors? Is the public school a major driver for demand? I've read your blog about the Effectiveness of Open Houses, (written in 2019) How has your thinking changed in a year of no open houses? How do you feel the pandemic and lack of inventory has changed how realtors will go to market this Spring? 

This was one of our best shows yet. Both of these markets are at a crossroads. Buyers and sellers are feeling anxious because they haven't seen a market like this in a long time. Builders are asking what does the new buyer want. Sellers are asking if the effects of the pandemic will be short lived. Billions of dollars in real estate is coming on the market in these markets over the next couple months and these two agents have a lot to say about where it is all heading. Join us, participate, ask your questions, and be pa

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Brooklyn is New York's most populous borough, and Queens is the largest, but is it fair to say Palm Beach has overtaken Manhattan as New York's most expensive and exclusive borough? 

Home to only 8,348 people (and 30 billionaires) Palm Beach is definitely in a class of its own.  The average property sells for more than $7 million. This year, during the high season (October to March) Palm Beach recorded $671 million in sales, up from $253 million in the same period one year before. The record-breaking $111 million sale of one home in December may just be the beginning of a new gilded age. John Lennon's former estate is back on the market for $47 million, double what it sold for only 4 years ago. And then in March the virus struck and sent the Palm Beach market reeling. But, two months later this second-home market had clearly found its feet and was poised to make a full recovery. So, now what?

Can Palm Beach real estate continue at this pace or is it due for a correction?

What will be the effect when Palm Beach's most famous resident leaves office?

We want to really understand the Palm Beach real estate market, its relationship to New York City, and how it has changed in the last few years so we are turning to the top agent in that market, Whitney McGurk. 

Boroughs & Burbs is hosted by John Engel in Connecticut and

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This week on the show we have 4 of the most talented interior designers in the greater New York area. I mean really top-drawer talent. We want to know from the very best designers about how they are thinking about the market for 2021. 

Let's discuss the intersection of designers and realtors, architects, builders and buyers.  How can top designers and real estate professionals help one another where it is mutually beneficial?

Sometimes realtors need fast design, just enough style in order to sell it. So, how is staging different from styling?

What room usually bothers the clients most? How can the designers help?

Let's talk about design as a good investment. Is great design measurable? I see well-designed houses selling for 50% more than Zillow says its worth. Let's talk interior design as investment.

Let's talk about the amateurs. I suspect that a lot of us try and save money and simply do it ourselves, copying the work of great designers. What separates the very best in the business from the amateurs?

How has the business changed since Covid? What is the silver lining? 

This week's show is Lisa Ben-Isvy's idea and she'll be co-hosting with us. Lisa is the former publisher of New York Spaces and now has her own business connecting top interior designers, architects & realtors.

John Barman - John Barman has been honored as one of the AD100 by Architectural Digest, one of “The City’s Best 100 Architects and Designers” by New York Magazine, and his work has been featured in the New York Times, Esquire, Interior Design, Traditional Home, and W, among other publications. His renowned clientele includes Wynton Marsalis, George Stephanopoulos and Alexandra Wentworth, Leonard and Allison Stern, Bryant Gumbel, Stone Phillips, Neil Simon, and Larry Silverstein. 

Denise Davies - As D2's founder and CEO, Denise leads the design and product teams at D2Interieurs and is personally an avid collector of mid-century modern art, artifacts, and furniture. Prior to launching D2 in 2010, Denise had a 20 year career as a fashion executive in New York City, Los Angeles, and Florence. An active member of the design community in Fairfield County, Denise has expanded the D2 portfolio to include over 75 residences in New York City, Easthampton, Southampton, Fairfield and Litchfield Counties as well as throughout New York's historic Hudson Valley and most recently South Florida. 

John Douglas Eason - John honed his unique aesthetic in the style obsessed culture of Dallas – Fort Worth. The dramatic interiors of his youth sampled freely from historic styles and imbued John with a broad design vocabulary. In his first decade as an interior designer, John developed refined and richly crafted spaces while working on the grand homes of Greenwich, Connecticut. John’s longstanding Manhattan-based practice has enabled him to work closely with clients over the years, evolving with them as their homes and families change and grow. At the core of John’s work lies a sophisticated modern sensibility, tempered by respect for traditional design. 

Anjali Pollack  - New York based interior design firm Anjali Pollack Design was established in 2004. Since inception our goal has been to make each home entirely personal. Every project is a close collaboration between us and our clients; every space is tailored to the needs and aesthetic of those who will call it home. We create modern classic homes for the global traveler to live. Our aesthetic incorporates diverse styles to evoke an ambience that is subtly lavish, eclectic and intriguing. Making bold use of color, blending traditional and modern, our homes are vibrant, livable spaces.

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Greenwich and The Hamptons

These two towns are recognized throughout the world as being extraordinary, maybe the "best" and certainly the most expensive suburbs of the greatest city in the world.

(and for very different reasons)

What makes Greenwich and The Hamptons so great?

How did these 2 agents rise to the top of these markets?

Timothy O'Connor and Rob Johnson will join us for a candid conversation explaining what make these markets stand head & shoulders above the pack.

Rob Johnson
Just listed a $32 million mansion and was recently named the #1 agent in Connecticut by RealTrends (with $129 million in sales) Raised in the UK, Rob is comfortable advising international clients. With 3 generations of family in Greenwich, he has strong local ties.

Tim O'Connor
2020 & 2019 America's Best Real Estate Agents List by REAL Trends 
2019 Agent of the Year, All Hamptons
2018 Agent of the Year, East Hampton 
2018 & 2019 Top Producer Council 
2018 & 2019 Emerald & Sapphire Clubs 
2017 Rising Star

Host: John Engel - a very good Connecticut Real Estate Agent
Host: Roberto Cabrera - a very good NYC Real Estate Agent