Buying and Selling NYC Luxury with Valerie A. Lettan a. lettan - resident... · co-op buildings yet...
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F or those seeking or selling a co-op, condo, town- house or loft space, Valerie is an award-winning, skilled negotiator who enjoys helping clients achieve their real estate goals and wholeheartedly investi- gates all opportunities throughout the entire, vibrant city of Manhattan. Her high level of dedication combines with her great attention to detail and persistent follow-up while utilizing the cutting-edge resources available to her to en- sure that each transaction is handled with the utmost care and efficiency. “I spend a lot of time working closely with customers to really listen, un- derstand and research their desires, and ful- fill their unique real estate needs. Educating the people I represent is key, as knowledge is power when it comes to succeeding in today’s intricate real estate market and facilitating the right decisions.” The skill set she utilizes is al- ways: “To give the best service and professional care to my customers.” What do you like most about your job? I greatly enjoy interfacing with people from all over helping them successfully achieve their real estate goals. Working with people from foreign countries is also a joy. I speak French fluently and have a strong understanding of several other languages. Since I’ve sold throughout the Upper East Side, Upper West Side, Midtown, Chelsea, Gramercy, etc., I am a solid resource for all of Manhat- tan to buyers and sellers alike. With good due diligence, strong communication skills, and as a REBNY Certified Negotiation Expert, I really love negotiating a deal! What advice would you give someone looking to buy real estate in NYC now? I always say, “Be prepared to move forward quickly with an offer once a property is pinpointed.” Check your credit reports, make sure there are no discrepancies. If you are interested in obtaining a mortgage, get a bank pre-approval letter upfront. If you are not paying cash, an offer is always stronger with a bank pre-approval let- Buying and Selling NYC Luxury with Valerie A. Lettan ter. Be prepared to disclose all financials (this is standard for co-op buildings yet many condo buildings now require it as part of the purchase application package) and consider who you would like to write personal letters of reference. Don’t try to low-ball an offer for a property you really want and you know there is significant interest from others. When a property is priced well….act on it quickly with a strong offer. You’ll be happy you did. What do you see as a great value out there? I have a renovated, luxurious 3 bedroom corner (two expo- sures) listing in the world-famous Olympic Tower, 641 Fifth Avenue, #37D. It has wall-to-ceiling windows throughout and includes all new, designer furnishings. It is hard to find a true 3 bedroom luxury apartment in a high-end condo building with a prime Fifth Avenue address for under $6 million. My listing is asking $5.5 million; including the new furnishings! Plus, the asking price also includes the fantastic, contemporary fine art if desired. The open views of Central Park and the city skyline are breath-taking…it’s a NYC dream home for a great price! What are pointers YOU could suggest for home buyers? Once you’ve found a property you like, if a mortgage is re- quired, I always get the building checked-out first by a mortgage broker to be sure the building is mortgage approved prior to submitting an offer. When there are co-op and condo buildings that are not mortgage approved by the top lending institutions, then I get creative finding a solution with Douglas Elliman’s own resource, Citizens Bank. It is imperative that buyers obtain a NYC mortgage broker and NYC real estate attorney. The laws and nature of doing business are very different in NYC than anywhere else. The attorney and mortgage broker always work hand-in-hand with me (the real estate broker). Setting up a stellar team for my buyers and sellers is extremely important. For example, a deal may fall apart and be lost to another buyer if the real estate attorney is slow to act. Where do you see the market in NYC going? There will always be a need for housing in NYC. With the pro- jected construction of additional buildings, it still will not satisfy the demand. The reason prices are so high in new de- velopments is due to the cost of land. The cost of land and construction have sky-rocketed. Regardless, NYC is typically a “safe bet” to invest in real estate. The better deals to be made are in re-sale apartments, both condo and co-op. If you pay U.S. taxes, are an American citizen, or have your Green Card, you qual- ify to purchase in a co-op. Over 85% of the residential buildings in Manhattan are co-op buildings. A co-op purchase is a great deal if you intend to use the resi- dence as your full-time or part-time home. The best bar- gains can always be made on a co-op transaction. The application process is more extensive and there is typi- cally a Board interview (since a buyer is buying shares of stock in a building that are assigned to the property and all prospective shareholders are vetted by a build- ing’s co-op Board). The process may take longer then purchasing a condo, but it is worth it. If you prefer pur- chasing a condo, which is typically 30% more expensive then co-ops, it is currently a buyer’s market. Serious sellers for both condos and co-ops are flexible to negoti- ate. You can be proud of a NYC purchase. Completing the process is an achievement! What’s an important tip for readers interested in selling or buying luxury real estate? It is inherently important that sellers and buyers work with a trusted real estate professional who clearly has experience negotiating and bringing deals to a success- ful closing. For example, there are many aspects of how Board Packages need to be prepared and presented to a NYC co-op or condo Board, and I find myself always going well beyond the call of duty to see a deal come to fruition for my clients. As a REBNY Certified Negotia- tion Expert, I know my skill set as a real estate broker and tireless dedication to my clients brings them to their real estate goals. I am continuously grateful to receive letters of deep appreciation for my effort on their behalf. [email protected] / 212.319.2844 / 575 Madison Avenue, New York, NY 10022
Transcript of Buying and Selling NYC Luxury with Valerie A. Lettan a. lettan - resident... · co-op buildings yet...
For those seeking or selling a co-op, condo, town-house or loft space, Valerie is an award-winning, skilled negotiator who enjoys helping clients
achieve their real estate goals and wholeheartedly investi-gates all opportunities throughout the entire, vibrant city of Manhattan. Her high level of dedication combines with her great attention to detail and persistent follow-up while utilizing the cutting-edge resources available to her to en-sure that each transaction is handled with the utmost care and efficiency. “I spend a lot of time working closely with customers to really listen, un-derstand and research their desires, and ful-fill their unique real estate needs. Educating the people I represent is key, as knowledge is power when it comes to succeeding in today’s intricate real estate market and facilitating the right decisions.” The skill set she utilizes is al-ways: “To give the best service and professional care to my customers.”
What do you like most about your job?I greatly enjoy interfacing with people from all over helping them successfully achieve their real estate goals. Working with people from foreign countries is also a joy. I speak French fluently and have a strong understanding of several other languages. Since I’ve sold throughout the Upper East Side, Upper West Side, Midtown, Chelsea, Gramercy, etc., I am a solid resource for all of Manhat-tan to buyers and sellers alike. With good due diligence, strong communication skills, and as a REBNY Certified Negotiation Expert, I really love negotiating a deal!
What advice would you give someone looking to buy real estate in NYC now? I always say, “Be prepared to move forward quickly with an offer once a property is pinpointed.” Check your credit reports, make sure there are no discrepancies. If you are interested in obtaining a mortgage, get a bank pre-approval letter upfront. If you are not paying cash, an offer is always stronger with a bank pre-approval let-
Buying and Selling NYC Luxury with Valerie A. Lettanter. Be prepared to disclose all financials (this is standard for co-op buildings yet many condo buildings now require it as part of the purchase application package) and consider who you would like to write personal letters of reference. Don’t try to low-ball an offer for a property you really want and you know there is significant interest from others. When a property is priced well….act on it quickly with a strong offer. You’ll be happy you did.
What do you see as a great value out there? I have a renovated, luxurious 3 bedroom corner (two expo-sures) listing in the world-famous Olympic Tower, 641 Fifth Avenue, #37D. It has wall-to-ceiling windows throughout and includes all new, designer furnishings. It is hard to find a true 3 bedroom luxury apartment in a high-end condo building with a prime Fifth Avenue address for under $6 million. My listing is asking $5.5 million; including the new furnishings! Plus, the asking price also includes the fantastic, contemporary fine art if desired. The open views of Central Park and the city skyline are breath-taking…it’s a NYC dream home for a great price!
What are pointers YOU could suggest for home buyers?Once you’ve found a property you like, if a mortgage is re-quired, I always get the building checked-out first by a mortgage broker to be sure the building is mortgage approved prior to submitting an offer. When there are co-op and condo buildings that are not mortgage approved by the top lending institutions, then I get creative finding a solution with Douglas Elliman’s own resource, Citizens Bank. It is imperative that buyers obtain a NYC mortgage broker and NYC real estate attorney. The laws and nature of doing business are very different in NYC than anywhere else. The attorney and mortgage broker always work hand-in-hand with me (the real estate broker). Setting up a stellar team for my buyers and sellers is extremely important. For example, a deal may fall apart and be lost to another buyer if the real estate attorney is slow to act.
Where do you see the market in NYC going?There will always be a need for housing in NYC. With the pro-jected construction of additional buildings, it still will not satisfy
the demand. The reason prices are so high in new de-velopments is due to the cost of land. The cost of land and construction have sky-rocketed. Regardless, NYC is typically a “safe bet” to invest in real estate.
The better deals to be made are in re-sale apartments, both condo and co-op. If you pay U.S. taxes, are an American citizen, or have your Green Card, you qual-ify to purchase in a co-op. Over 85% of the residential buildings in Manhattan are co-op buildings. A co-op purchase is a great deal if you intend to use the resi-dence as your full-time or part-time home. The best bar-gains can always be made on a co-op transaction. The application process is more extensive and there is typi-cally a Board interview (since a buyer is buying shares of stock in a building that are assigned to the property and all prospective shareholders are vetted by a build-ing’s co-op Board). The process may take longer then purchasing a condo, but it is worth it. If you prefer pur-chasing a condo, which is typically 30% more expensive then co-ops, it is currently a buyer’s market. Serious sellers for both condos and co-ops are flexible to negoti-ate. You can be proud of a NYC purchase. Completing the process is an achievement!
What’s an important tip for readers interested in selling or buying luxury real estate?It is inherently important that sellers and buyers work with a trusted real estate professional who clearly has experience negotiating and bringing deals to a success-ful closing. For example, there are many aspects of how Board Packages need to be prepared and presented to a NYC co-op or condo Board, and I find myself always going well beyond the call of duty to see a deal come to fruition for my clients. As a REBNY Certified Negotia-tion Expert, I know my skill set as a real estate broker and tireless dedication to my clients brings them to their real estate goals. I am continuously grateful to receive letters of deep appreciation for my effort on their behalf.
[email protected] / 212.319.2844 / 575 Madison Avenue, New York, NY 10022
