The Real Wealth of New York City
Amy Begg & Anne Brownlee
Sponsored by
Introduction to session
In this session, we will cover the complexities of NYC real estate — including the co-op mysteries — and define the lifestyles of these potential prospects. We will discuss the philanthropic and financial pressures of NYC wealth and how to present a strategic plan for fundraisers.
Session overview New York City real estate Schools Philanthropy Social involvement (boards, clubs, etc.) Strategic Plan
In this presentation we are not planning to discuss the creation of wealth. The presentation will focus on lifestyle and other indications of wealth.
Real estate- New York City
Real estate – condo versus co-op What is a condo? Benefits of owning a condo? Negatives of owning a condo? Top NYC condos
Real estate – co-op versus condo What is a co-op? Benefits of owning a co-op? Negatives of owning a co-op? Top NYC co-ops
Real estate – identifying and valuing Locating ownership information
ACRIS Property Shark (1 free search per day or
subscribe) Paid vendors (e.g. Lexis/Nexis, Dataquick, etc.)
Real estate- ACRIS
Real estate- ACRIS
Real estate- ACRIS
Real estate-ACRIS
Real estate- ACRIS
Real estate- Property Shark
Real estate- Property Shark
Real estate- Property Shark
Real estate- Property Shark
Real estate- identifying and valuing Locating building information
Building type Number of floors/apartments Size (Sq. footage, bedrooms/bathrooms, terrace,
etc.) Location Financial requirements
Real estate- City Realty
Real estate- City Realty
Real estate- City Realty
Real estate- City Realty
Real estate- identifying and valuing Values/comparables
Realtor sites Street Easy Trulia Douglas Elliman Stribling Sotheby’s Corcoran
Real estate – other considerations Taxes
New York City sales tax Property tax Flip tax
Broker fees Townhouses Parking spaces
Real estate- unwritten rules
Neighborhoods Identities and characteristics
Building requirements The Good Buildings Unlisted apartments Outside space (terrace, roof deck, etc) Different addresses for the same building Named buildings (e.g. Beresford) New York Observer
Private schools – facts & figures Pre-school to high school
Kindergarten acceptance percentages Metropolitan Montessori School – Pre-K $24,600 FY14
Testing Top private schools with tuition costs
Manhattan The Brearley School - $38,200 FY14
Boroughs Horace Mann School - $39,100 FY14
Suburbs Rye Country Day School - $34,600 FY14
Boarding Deerfield Academy (Deerfield, MA)
Tuition- $47,500 FY14 Estimated total cost of attendance - $49,625 FY14
Private schools – other considerations Coaches/consultants Tutors Additional financial considerations
Philanthropy Annual giving Campaigns
Board involvement Social pressure
Philanthropy - engagement Personal
Usually the donor’s number one philanthropic priority.
Quid pro quo Usually the donor’s family/friends number one
philanthropic priority. “You support my organization, I will support
yours.” Business
Expected contributions based on business relationships, etc.
Philanthropy - giving pressures Major gifts
Pledges Name gifts Campaign gifts Endowed gifts
Event Sponsorship Membership Direct mail
Philanthropy- events checklist Tables
Tickets Individual Seating Tickets $2,000 Leadership table of ten - $50,000 Sponsor table of ten - $250,000
Pressure to seat the table with the right people Fashion choices
Dress: J. Mendel Gown- $7K+ Shoes: Christian Louboutin Pump - $3K+ Handbag: Judith Leiber Clutch - $4K+
Auctions Silent versus live
Social involvement – civic boards Boards
Examples of prestigious boards Metropolitan Museum of Art - $10M New York Public Library - $5M Lincoln Center - $250K Memorial Sloan Kettering Central Park Conservancy
Giving requirements Volunteering/corporate expectations Non- New York Boards
College/university Private school National Organization
Social involvement - clubs Clubs
Examples of prestigious clubs Core Club New Yacht Club Liberty National Golf Club (Jersey City, NJ) Round Hill Club (Greenwich, CT) Shinnecock Hills Golf Club (Southampton, NY)
Wealth Clubs Examples of private wealth club
Tiger 21 MetCircle Society
Strategic Plan Education
Researcher Fundraiser
Strategic Plan Prospecting projects/programs
Club memberships Prestigious addresses Titles of wealth (senior managing director, managing
director, partner, etc.) Wealth clubs
Connections/pathways Board memberships Brokers
Potential hosts/event locations Country Clubs Prestigious apartments
Contact information Amy Begg
[email protected] 617.495.0352
Anne Brownlee [email protected] 617.384.5512
Resources- real estate 740 Park by Michael Gross The Sky’s the Limit: Passion and Property in Manhattan by Steven Gaines New York City Maps and Neighborhood Guide
http://www.cityguidemagazine.com/viewpage.cfm?colid=4362 ACRIS
http://www.nyc.gov/html/dof/html/jump/acris.shtml City Realty
www.cityrealty.com City Realty Top Tens
http://www.cityrealty.com/buildings/top_ten.cr Property Shark
www.propertyshark.com Streeteasy
www.streeteasy.com Trulia
www.trulia.com Douglas Elliman
http://www.prudentialelliman.com/
Resources - other BizBash's Top 100 Annual Events of 2012
http://www.bizbash.com/new_yorks_top_100_events_2012/new-york/story/22345/#sthash.eWQTRvU5.dpbs
Bloomberg by Bloomberg by Michael Bloomberg Bravo TV
Million Dollar Listing Real Housewives of New York NYC Prep
HGTV Selling New York
New York Social Diary http://www.newyorksocialdiary.com/
New York Observer www.observer.com
New York Post www.nypost.com
Platinum Clubs of America Richistan by Robert Frank Social register Town and Country
Resources – select articles “Before College, Costly Advice Just on Getting In” New York Times, 7/19/09. “Capital of the Rich” New York Times 4/26/04. “Flip-Flopping on Flip Taxes” New York Times, 9/3/10. “If You’ve Got It, Flaunt It” New York Magazine, 7/13/09. Irwin, Robert. Tips and Traps When Buying a Condo, Co-op, or Townhouse “It Happened One Weekend” Curbed, 3/9/09. “Madoff, Madonna and the Co-op” The Times (London), 1/9/09. “Make a Bid” New York Times, 3/8/09. “Manhattan Apartment Prices Skid 13%-19% in Q2” Associated Press, 7/2/09. New York Observer The Real Deal “A unit-by-unit look at 15 CPW” “Rich, but Rejected” New York Times, 7/13/08. “Rich Kid Syndrome” New York Magazine 1/8/08 “Robin Hood Event Adjusts to Tough Times” New York Times 5/12/09. “Soaring Charges Hit Condo, Co-op Owners” Crain’s New York Business, 2/23/09. “Spirit of Cooperation” Chicago Sun Times, 6/7/09. “The Struggle to Sell 985 Park Avenue” Luxist 6/20/09. “There’s a Problem With Your Application” New York Magazine, 3/30/09. “Trustees Find Board Seats Are Still Luxury Items” New York Times, 4/3/10. “Where Everyone Knows Your Portfolio” New York Times, 10/14/07.
Resources – photo credits 15 CPW – nycondoblog.com Trump Palace – CityRealty.com The Pierre Penthouse – Hark Lane Blog The Pierre Fall View – Manhattan Miami Real
Estate 740 Park Ave - weblo.com
Resources – websites www.elikaassociates.com www.unbroker.com www.urbandigs.com www.Citi-relocation.com www.cityguidemagazine.com www.tiger21.com www.observer.com www.thecoreclub.com http://www.nyyc.org/ http://www.libertynationalgc.com/
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