Halstead Property

Jill Sloane
Exec. Vice President
Westside Office
Tel: (212) 381-2206
jsloane@halstead.com

Lauren Cangiano
Exec. Vice President
Park Avenue Flagship
Tel: (212) 381-3397
lcangiano@halstead.com

Dune Deals

By Maggie Hawryluk

It happens just about every year, that mass exodus to greener, bluer and sandier pastures once the streets of Manhattan simply become too sweltering to bear—or so that’s what most people think. Many brokers are learning that this is prime time to mix some business with relaxation.

“People see the traffic on the [Long Island Expressway], and see it’s easier to get reservations on the weekends, but that doesn’t mean that it’s everyone in the world,” Michael Signet, executive director of sales for Bond New York, said. “There is life outside of the weekend.”

That’s why Signet said eh tells his brokers that right now is prime time to do business. In fact, he said that the month of July was incredibly busy at the firm.
“One part that does slowdown is the high end,” he said, of the wealthy jet-set that are traveling this summer. “But the meat and potatoes of the business –the studios and one bedrooms—are still busy. First-time buyers typically buy in the summer because their leases are up as they originally rented in the summer.”

Jill Sloane, executive vice president at Halstead Property, ahs been working summers for the past nine years that she’s been in the business and finds that time to be quite profitable. Rather than taking time off while many other brokers are away, Sloane said she opts to book her long vacations when she really sees the city empty out – Rosh Hashana and Yom Kippur.

“My last vacation was in April for Passover,” she said of her trip to Italy. “I’m not Jewish, but why not take advantage while many people are away?”

Sloane, who’s been recognized as the top producing agent at the firm for the first half of the year during the past two years, has also made a point to book long weekend trips during the summer holidays to take breaks from the hustle and bustle. “I learned my lesson last year—I didn’t take a vacation for 16 months.” she admitted.

Doug Eichman, senior vice president at Corcoran, joked that all he does is work, even during the historically slow summer months. Although he said business has slowed, that doesn’t mean he’s not busy with showings and setting up relationships for the fall once business perks up. In fact, he’s seeing advantages to doing business during the summer months.

“Because many companies offer summer hours, some of my younger buyer took advantage of viewing a property before they went away for the weekend. It was especially helpful at buildings with restricted hours,” he said.

Prudential Douglas Elliman’s Amanda Jhones said she hasn’t seen a shift in business this summer, and she’s been hard at work at the Foundry in Long Island City.
“Here at the Foundry I’ve had a steady flow of people that are buying.” She said. “This summer has been good for me.”

Robert Roe, of Roe Development, said he’s been seeing and incredible amount of traffic and action at his Long Island City development Star Tower. And a bigger testament to the popularity of the project is that most of the interest is coming through word of mouth recommendations.

“In general, I think it’s a true statement to say that sales slowdown in the summer, but there’s always that outliner in a trend,” he said. “We’re really pleased with the traffic flow. It’s a good statement for our project, especially during this time in the market.”

Lori Huler Glick, vice president at Stribling & Associates, said she’s been non-stop all summer between carting her two children to and from camp and helping her clients navigate the tricky mortgage waters as they prepare to close.

“I’ve had to wear the hats of a mortgage broker and an attorney,” she said. “Our jobs have gotten a little harder because we need to be able to educate people more.”

Mike Simon, president and CEO at Century 21 NYC, has also been juggling his hectic family and professional lives while trying to squeeze in some relaxation with long weekend getaways to Southold, Long Island.

“The best break [my girlfriend and I] did get was a night in the city alone. WE made a spur of the moment decision, got a room and made a reservation at Nobu for dinner,” he said. “It was the most relaxing night, walking around the city, no rush and no kids!”

Although Lauren Cangiano, executive vice president at Halstead Property, was heartbroken she and her family of five haven’t been able to take their annual month-long European getaway because of the falling value of the dollar, she’s finding that while other brokers are away, she can boost her business.

“These past two years that I’ve been home have been surprisingly busy,’ she said. “Quite honestly, I’ve gotten a handful of new exclusives this summer. I had an open house on Sunday and had 20 people show up. It’s more for me!”

Cangiano has found that even if she’s not necessarily closing deals right now, she’s creating and nurturing relationships that will be beneficial in the fall.

“With all of the sellers that I have now, I see a pretty successful fall coming,” she speculated. “Being here turned out to be a good thing, even more so this year.”

Other brokers are finding that getting away this summer can be beneficial for business, as well. Bruce L. Ehrmann, executive vice president at Stribling Marketing Associates, used his two-week vacation to Italy as a chance to strengthen his network of contacts and better understand his properties. Ehrmann said that while vacationing, he visited the Italian company that manufactures many of the kitchen finishes that he works with, landed a large listing in Milan and met an investor from Dubai who is looking to purchase a property in New York.

“It’s all about being mindful of what I’m doing. Life doesn’t hurt my vacation,” he said. “It takes mindfulness to be in the business for a long time.”

He added that getting away from the City is also a great way to find new perspectives and understandings of the real estate business here. “It’s when you don’t go on vacation that you’ll lose that balance,” he said. 

David Schlamm, CEO and founder of City Connection Realty, sees summer as a great way for brokers and managers who’ve had a successful year to unwind and reward themselves for a job well done.

“I know for myself I have taken a little extra time off as I have worked ‘pedal to the metal’ for so many years that when there is a time to ‘ease off that pedal,’ then it’s a welcomed opportunity,” he said.

Adina Azarian, CEO of Adina Equities, is also taking a much-needed break. This month, she’s rented a house in East Hampton and is working on her pet project—a “How To” Real Estate Guide about starting a business geared toward young entrepreneurs.

She’s also using this summer break as a chance to network with other real estate professionals that are vacationing in the Hamptons and to further solidify her landlord relationships.

“I am taking a boat ride with one of the landlords I work with who si also staying out her for August. And next week another one of my landlords is coming over so his kids can go swimming in my pool and we will have a little barbeque together,” she said. “These are not only great memories but also great opportunities to keep business relationships storng.”

Wednesday, August 13, 2008