Press

Compass Now Worth $1.8 Billion

Compass is now worth $1.8 billion after its latest cash infusion: a $100 million Series E that will go toward a massive geographic expansion.

Investors in the round included Fidelity Investments, IVP and Wellington Management, which led Compass’ Series D round. The round brings Compass’ total funding to $325 million.

Compass said the latest round will be used to build new technology — namely, a customer relationship management (CRM) platform — and it will allow the brokerage to expand to 10 new cities within two years. “We’re just getting started,” Compass’ executive chairman Ori Allon said in a statement to The Real Deal. “The real vision is for Compass to be everywhere.”

Following the successful public offering for Redfin — another venture-backed tech brokerage now worth $2.05 billion — sources said Compass’ latest round is a sign that it, too, is gunning for a public offering.

“With all that capital raised, all signs are pointing to that direction,” said Ashkan Zandieh, founder of property data startup Falkon and research company RE:Tech.

Until then, Compass is stepping up plans to capture more market share.

The firm, which launched in New York in 2013, has 2,000 agents nationwide, and doubled its headcount over the past year. Compass, which says it’s profitable in several markets, had gross revenue of $180 million in 2016 and the company said it’s on track to hit $350 million in 2017 revenue. Its agents are projected to close 16,000 transactions valued at more than $14 billion.

Last month, CEO Robert Reffkin said Compass plans to launch in 10 new domestic markets by 2020 — part of an effort to capture 20 percent of the market share in 20 major U.S. cities by that time. The “2020 by 2020” plan, shared at a companywide meeting in New York on Oct. 24, will see new outposts in Seattle, San Diego, Phoenix, Dallas, Austin, Houston, Atlanta, Charlotte, Philadelphia and Chicago. In addition, Compass said in 2018 it plans to build a new CRM platform, and would launch a targeted digital marketing tool as well as real estate signage that would be fueled by solar power. In June, Reffkin told TRD the firm would have an international presence within 18 months.

Still, Compass’ valuation continues to vex rival real estate firms, who say it’s not a realistic value for a brokerage company.

“The question of whether we are a tech company or a brokerage company is a false dichotomy,” said CFO Rob Lehman. “Every company that’s going to succeed in industries in the future is going to have to be a hybrid.” He said Compass has a “ton of runway” on the pure technology side. At the same time, he added, “We always think we’ll have a deep human component. To that end, we are both a tech company and a brokerage and we let the market ascribe the value.”

Though Compass has been noncommittal about its exit strategy, industry players said the firm’s prospects got a boost from Redfin’s public offering. The Seattle-based brokerage — which also raised venture capital by positioning itself as a tech company — saw shares soar 45 percent on its first day of trading giving it a market cap of $2.05 billion. Its market cap is now $1.86 billion based on a share price of $22.36.

“Redfin’s strong performance in the public market has been a real boon to any residential prop tech company that’s looking to raise money,” said Zach Aarons, co-founder of MetaProp, a real estate tech investor and accelerator.

So far this year, investors seem to be bullish on the space. They pumped nearly $6 billion into real estate tech during the first three quarters of 2017, compared to $3.2 billion during the same time in 2016, according RE:Tech data. NYC-based firms raised close to $900 million during that time, up from $300 million last year.

A few weeks after Redfin’s IPO, San Francisco-based Homelight, which uses data to connect buyers with agents, raised $40 million in a Series B led by Menlo Ventures. And in September, U.K.-based Purplebricks — another investor-backed, low-fee brokerage — launched a U.S. operation after raising $60 million from investors. The five-year-old company reported $62.6 million in 2017 revenue. Just last month, Oakland, Calif.-based Roofstock, a platform for buying and selling rental properties, raised a $35 million Series C round.

But Zandieh said while deal size and volume are up, investors are sticking to later-stage financings. “At this stage, they’re doubling down on their current investments.” He said Compass has the benefit of having some “pretty big names already behind them.” Though it has been strategic about its growth into new regions, “you need capital and you need people to build up those markets.”

5 Surprisingly Spacious Manhattan Two-Bedrooms For Under $750K

5 surprisingly spacious Manhattan two-bedrooms for under $750K

The two-bedroom apartments offer space at a relatively low price

BY AMEENA WALKER  JUL 7, 2017, 1:15PM EDT

Welcome to a semi-regular feature, Price Points, in which we pick a relatively low asking price and a type of apartment, then scour StreetEasy to find the best available options around the city. Today's task: Manhattan two-bedrooms asking under $750,000.

↑ If you’re willing to take the trek up to Washington Heights, this 987-square-foot condo delivers bang for your buck. The two-bedroom, two-bathroom home, asking $750,000, features massive windows, dark hardwood floors, a sleek windowed kitchen, and a balcony that overlooks Highbridge Park. [Floorplan]

↑ On the Upper West Side, a 700-square-foot co-op is going for $745,000. The listing description touts this as an “affordable starter” home with 10-foot ceilings, oak floors, a small but modern kitchen, and a washer/dryer. The two-bedroom, one-bathroom unit is also less than a block away from Riverside Park. [Floorplan]

↑ For $735,000, there’s this prewar co-op in Morningside Heights with lovely period details. Exposed brick walls, high ceilings, a stylish kitchen, and plenty of windows are among its details. We’ll admit that the second bedroom is small but it could make a good kid’s room or home office. [Floorplan]

↑ A colorful two-bedroom condo located on Harlem’s Striver’s Row is asking an even $600,000. The 760-square-foot apartment comes with large windows, hardwood floors, a sizable kitchen, and the option to install your own washer/dryer machine.

↑ Finally, in Yorkville, a simple and spacious co-op wants $695,000. The living room boasts lovely arched entryways and decently-sized rooms; the kitchen, while small, is clean and efficient. [Floorplan]

STREETEASY: 5-Most Popular Open Houses in NYC

On the hunt to buy in NYC? Take a look at the five most popular open houses on StreetEasy this week. If you’re short on time this weekend, we highly recommend visiting these five places, but if you’ve got more time be sure check out StreetEasy for more open houses in NYC this weekend.

160 9th Avenue, #4R

SPACE: 1 bedroom, 1 bathroom
PRICE: $550,000
NEIGHBORHOOD: Chelsea
HIGHLIGHTS: The average median asking price for a one-bedroom in Chelsea is nearly $1.2M, so this place is a steal (in relative terms!) On top of good value, the apartment also features exposed brick, a decorative fireplace and a bedroom that can fit a queen-sized bed.

 

100 West 57th Street, #4A

SPACE: Studio
PRICE: $365,000
NEIGHBORHOOD: Midtown
HIGHLIGHTS: It might be studio, but the building amenities will have you living large with a doorman, concierge, valet, private garden and laundry in building.

 

301 East 63rd Street, #16F

SPACE: 2 bedrooms, 1 bathroom
PRICE: $525,000
NEIGHBORHOOD: Lenox Hill
HIGHLIGHTS: A Manhattan two-bedroom for under $600K! Need we say more? If you’re not sold on the price alone, the apartment offers some solid perks including a recent renovated kitchen with stainless steel appliances and hardwood floors. The building also features a roof deck and laundry room.

 

169 West 73rd Street, #9

SPACE: 1 bedroom, 1 bathroom
PRICE: $599,000
NEIGHBORHOOD: Upper West Side
HIGHLIGHTS: This triplex features high ceilings and large windows, as well as your own private patio. The median asking price for a one-bedroom in the neighborhood is $825,000. So boom! You’re getting a deal.

 

354 West 12th Street, #5CD

SPACE: 1 bedroom, 1 bathroom
PRICE: $895,000
NEIGHBORHOOD: West Village
HIGHLIGHTS: In a neighborhood where the median asking price for a one-bedroom is $1.1M, this apartment translates to a “good deal”. Situated on the top floor of a 19th Century townhouse, this co-op was originally two studios and was later converted into a one-bedroom. The newly renovated unit now includes two decorative fireplaces, custom built-ins and a shared garden.

Curbed NY Press: 160 9th Avenue, Unit 4R

A no-frills Chelsea walk-up a block from the High Line seeks $550K

The one-bedroom, one-bathroom unit measures 550 square feet

BY TANAY WARERKAR  JUN 27, 2017

Welcome back to The Six-Digit Club, in which we take a look at a newish-to-market listing priced under $1 million, because nice things sometimes come in small packages. Send nominations to the tipline.

If you can get past the fact that this is a fourth-floor walk-up in a five-story building, the 550 square foot one-bedroom seems like a pretty good deal considering the price, and the fact that it’s just a block away from the High Line.

Located within the Chelsea Historic District, the co-op is part of an eight-unit building built in 1860. The apartment has still managed to hold on to some historic flourishes including the exposed brick and the decorative fireplace.

The apartment also gets a good amount of light courtesy of the two windows in the living room, and one in the bedroom. As per the brokerbabble, the bedroom can accommodate a queen size bed. Where the co-op does lack however (aside from the walk-up aspect) is the shortage of closet space—there are just two tiny closets in the entire apartment.

As for the building, it’s pet friendly, has washers and dryers, and has low maintenance charges.

 

The Hoffman Team is #8 in Manhattan!

Full Artical Here

It’s been about a decade since The Real Deal began ranking Manhattan’s top residential agents. But this year, the ranking looks a little different.

That’s because rather than evaluating agents based on the dollar volume of their listings, this year our beefed-up research team created a methodology to evaluate brokers based on what they actually sold. And in a market where inventory is up and buyers are swimming in choices, particularly on the high end, closing deals is no small feat.

While TRD’s methodology has changed, one key thing that hasn’t is that the brokers who worked on new development projects trounced their resale counterparts. But to get a clear sense of which agents dominated in both areas, we compiled two separate rankings. The undertaking was not easy. We sifted through thousands of condo, co-op and townhouse listings and cross-referenced them with sales that hit public records last year.

The final rankings — which include only sell-side transactions — are based on deals that closed between January 1 and December 31, 2016, and that the agent had as a listing. Oh, and agents had to have at least $50 million in deal volume to make the cut.

CONDO PICK OF THE WEEK | A perch over South Harlem...

A Perch Over South Harlem, Complete With A Wraparound Terrace & Your Own Parking Space

This four-bedroom, 2.5-bath duplex condo is already sizeable, and feels extra spacious thanks to its 1,200-square foot wraparound terrace and large windows, which make the most of the unit's high floor position. Perched over South Harlem, the apartment is in an amenity-packed building right beside Marcus Garvey Park, is close to the 2, 3, 4, 5, and 6, trains, and comes with a deeded parking spot. It's listed for $3.2 million by Compass, and saw a price drop of $295,000 just last week, so there may be some room to negotiate. 

Upon entering the lower level, you'll find a sun-drenched living room, adjacent to the wraparound balcony. A spiral staircase separates it from the dining area, roomy enough for small dinner gatherings and made striking by a copper lighting fixture overhead. As can be expected with high-end, newish developments, the open kitchen is equipped with high-end appliances, including a 50-bottle wine fridge. 

Upstairs, the master bedroom is in a private corner of the apartment, and includes three large closets and an en suite bath, but a second bedroom across the hall hits the vistas jackpot, its corner position allowing for expansive views. This shares a bath with a third bedroom; a fourth is downstairs, but is quite narrow and necessitates a Murphy bed, so this may be better off as a guest room.  

The terrace is a clear standout, with ample room for entertaining this summer; the building itself has a live-in super and offers a gym, pool, and bike room, in addition to that parking space. Plus, there's a tax abatement in place that brings down the monthly charges. 

3 Things to Know About Selling a House on Your Own

3 Things to Know About Selling a House on Your Own

Do-it-yourself sellers hope to save commission fees but will have to work at it.

By Jeff Brown | Contributor Feb. 27, 2017, at 10:39 a.m.

The internet is full of sites that help homeowners sell property on their own, promising thousands in savings by avoiding commissions, but the National Association of Realtors says commission savings on a for-sale-by-owner transaction, or FSBO, are more than offset by lower sales prices.

The truth lies somewhere in between, according to most objective analysts. So for most sellers, deciding whether to go FSBO is a tough call.

Ali Wenzke, a Chicago writer with a blog called the Art of Happy Moving, says do-it-yourself transactions have worked well for her.

"My husband and I have sold two houses FSBO and purchased one home without an agent," she says. "Be objective. Work hard. Be flexible to do showings at any time."

"Anyone can do it and the average home is shown five times or less," says Sissy Lappin, co-founder of the FSBO website ListingDoor.com. "The notion that no buyers or sellers can understand or manage what happens in a transaction is simply absurd."

One thing is sure: the average seller's experience does not necessarily apply in any specific case. What matters is whether you can succeed with a FSBO, regardless of whether your neighbor has.

Adjust your expectations. Experts do agree that FSBO novices should be realistic. Even if you get top dollar and avoid the agent's commission, the process can be a time-consuming headache. And even if you don't have an agent of your own, you may have little choice but to pay one representing the buyer, cutting the savings in half.

"While listing on your own seems easy, you are in fact replacing a job which you usually employ a broker to do full time," says New York-based real estate agent Dylan Hoffman, who is not a fan of FSBOs. "You will need to organize showings, tours, previews and open houses. Plus all the back-end work, like maintaining photos and descriptions on websites, checking for a clear title, etc. An owner would also take on the role of marketing, both digital and print."

The internet has made the process much easier, with many sites now offering listings, advice and services like printing signs. For a fee, usually several hundred dollars, some services will get your home on the multiple listing service used by real estate agents and buyers, though Lappin says it's good enough to list on a site like Zillow.com, which is free. The goal is to save the agent's commission, typically about 6 percent of the sales price, or $18,000 for a $300,000 home.

"FSBO has grown up and sellers don't have to settle for a red-and-white generic yard sign," Lappin says.

She says the seller of a $400,000 home with $60,000 in equity would spend 40 percent of that equity if they paid a real estate agent 6 percent commission, or $24,000.

What kind of homes sell without an agent? The National Association of Realtors says about 10 percent of home sales are conducted without an agent, though some critics say the figure is higher. The association says the average FSBO sells for 13 percent less than the average agent-assisted sale. Again, critics like Lappin disagree, with many noting the association's studies do not look at comparable homes and lump in mobile homes and other inexpensive properties, as well as intra-family deals that tend to have low sales prices. Association figures do show that FSBO is less common with high-priced homes.

FSBO advocates generally agree that doing it yourself is more difficult for the seller, and can take longer. Though you might catch a buyer's eye right off the bat, the FSBO approach is relatively passive, as you won't have an agent steering buyers your way. Obviously, the seller must be available to show the house, and that can require weekdays, not just Sunday afternoons.

"It takes a lot of people skills to sell your own home," says law professor David Reiss, director of The Center for Urban Business Entrepreneurship at New York's Brooklyn Law School. "Can you engage with potential buyers even as they are criticizing your house and the choices you made about it? Can you distinguish serious buyers from window shoppers? Can you negotiate without giving away the farm or playing too hard to get?"

Anti-discrimination laws limit what you can tell buyers about issues like the ethnicity of neighbors, or even the number of school-aged kids or seniors on the block. And you have to be willing to show to all comers.

Going it alone also means you won't have an agent's advice setting the home up to it up to look its best, though you could hire a professional stager.

Pricing a home can be difficult. While online services like Zillow and Realtor.com show asking prices and recent sales prices in the neighborhood, your home might need an adjustment up or down for the age of the roof or presence of a pool. So it may pay to hire an appraiser for several hundred dollars.

Generally, the title company handles the nuts and bolts of the closing, like paying off property taxes and title insurance, though many experts say the FSBO seller should have a lawyer.

"I think by doing FSBO you are going to increase your days on the market unless you are incredibly well priced – most likely under market," says Kevin Lawton, an agent with Coldwell Banker's Schiavone & Associates in Bordentown, New Jersey. "The reason for this is that unless you work really hard to market the property the exposure will not be so great. On top of not having as much exposure, you run the risk of agents not showing FSBOs to their buyers as options. "

The FSBO seller can get agents on board by offering a buyer's agent commission of 2.5 to 3 percent.

Experts also say DIY sellers should require prospective buyers to show they have been preapproved for a mortgage large enough to buy the home.

Haggling over terms can be draining. The two parties must agree on a closing date, a penalty if the buyer pulls out and contingencies such as what happens if the buyer's appraisal comes in too low or the buyer doesn't get a mortgage.

Full Article HERE

187-Year-Old West Village Carriage House Receives $4M Price Chop

A few months back, it was agreed that despite its magnificent charm, the 19th-century carriage house at 29 Downing Street would need a good price-chopper before a buyer would snatch it up. The owners must have come to this same realization—the home is now asking $8.995 million—a $4.005 million price cut from its most recent ask of $13 million.

Back in June 2014, the 3,480-square-foot home, built in 1829 on land once owned by Aaron Burr, was listed for $12 million. No one bit at that price so the sellers, artist John Bennett and photographer Karen Lee Grant, re-listed the following year for $13 million (yes, we scratched our heads at that too). But it looks like reality has set in, and with that came the new lowered price.

Hopefully the charming home, which has been featured in photo shoots for magazines and fashion brands alike, will have better luck finding a new owner on this go-round. (Or maybe the Hamilton craze will make people more interested? It's big enough to get mentioned in the brokerbabble, anyway.)

Read It Here

187-year-old West Village Townhouse Sold

The 29 Downing Street carriage house, a three-story home built in 1829, was sold for $6.8 million, according to property records.

The home has some historical significance. It sits on land once owned by Aaron Burr, according to a previous report from Curbed. Burr, aside from being the third vice president of the United States, is also known for being the man who shot and killed Alexander Hamilton in a duel.

The property was sold at a steep discount. It was first listed for a price of $12 million in 2014. After about a year with no buyers, it inexplicably went back on the market for a higher price of $13 million.

The property was originally built as a two-story house. The additional floor was added in 1870. The buyer was 29 Downing LLC. The previous owners, artist John Bennett and photographer Karen Lee Grant, lived in the property and used it as a gallery. The couple bought the 3.480 s/f home in 1977.

See It Here

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Fit to Print: An Industrial Chic Aesthetic in the West Village

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Fit to Print: An Industrial Chic Aesthetic in the West Village

The duplex at 421 Hudson Street also features a personal catwalk

By Morgan Halberg • 10/27/16 9:55am

“It’s very grandiose, very different, and not cookie cutter at all,” COMPASS broker Dylan Hoffman declared, entering a seventh-floor unit at 421 Hudson Street.

Indeed, the 2,000-square-foot layout of the duplex is the result of a two-unit combination, and it stays true to the industrial theme of the Printing House—that is, with an abundance of gray slate, stainless steel and frosted glass doors. 

A metal staircase just off the entry staircase leads directly up to the guest bedroom, which has a full, private en-suite bath with a distressed wood vanity, slate floors and bathtub, as well as a wall of closets.

“The entire apartment is unique—this kind of avant-garde, industrial-slash-modern kind of feel to it,” Hoffman said, leading us into the living room of his $4.25 million listing, where double-height ceilings reach 15 feet and west-facing windows provide river views.

Venetian plaster and stucco walls complement the distressed white oak floors, which have “been run through a mill to create this grade,” Hoffman informed us. “It feels like it’s exfoliating!”

In contrast to popular open layouts, the stainless-steel-outfitted kitchen is closed off from the living area. An additional den is open to the living room, though it “could definitely be dedicated to a sitting room or another guest bedroom,” Hoffman opined, noting the full third bathroom for the area, as well as a powder room off the entryway.

The master suite is accessed by another staircase and is complete with a four-fixture bath. “This is my favorite part,” Hoffman said excitedly, opening the door to the walk-in closet and revealing a “catwalk” over to the rows of custom shelves. Given the sidewalk grate-like nature of the catwalk, Hoffman said that heels are perhaps best kept toward the front.

“It might not be for everyone,” Hoffman admitted, descending the stairs and admiring the modern silver light fixture hanging from the ceiling, “but we’ve had every walk of life come through here, and they’ve all appreciated the property for what it is—the work, art and love put into it.”

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Inside Look: 4 apartments for Manhattan bachelors

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It may be hard to be a single woman in NYC, but for single dudes who enjoy the bachelor lifestyle, the city can be their perfect playground.

A 2015 New York Post article states that there are 38 percent more young female college grads than male. A 2014 Brick Underground article puts the citywide male-to-female breakdown as 53 percent female and 47 percent male.

Even with a good supply of dates, a New York City bachelor needs the perfect pad to call home (and to take his dates home to). Here are four that work for the single lifestyle.

This one-bedroom, one-bathroom Soho penthouse features large windows to let in the light and terrace off the dining room. The kitchen features stainless steel, colored lacquer, cerused oak, granite, porcelain tile, and the living spaces are polished concrete with a subtle matte finish. Additional features features include a Sonos music system with five speaker zones, and plenty of storage.

419 W. 55th St.
$1,995,000

This condo-op has a modern industrial style with 14-foot, poured concrete ceilings, oversized windows and skyline views. The two-bedroom, two-bathroom, plus home office is located in a building that was converted from a warehouse and features a virtual doorman and package room.

123 Washington St.
$3,100,000

Located in the Financial District’s W New York Downtown Residences & hotels, this penthouse has views of the Hudson and Statue of Liberty. The apartment may only have one bedroom and one bathroom in 708 square feet, but has 15-foot high ceilings. The floors are ebonized maple hardwood, and the kitchen features Italian lacquer cabinetry with Corian countertops and a glass backsplash. The bathrooms have stainless steel towel warmers and Toto toilets.

421 Hudson Street
$4,100,000

Described as an “industrial chic loft,” this West Village duplex has two bedrooms and three-and-a-half-bedrooms. The home features wall-to-wall windows with views of the Hudson, and a professional chef's kitchen lined in stainless steel. Bedrooms are located on the upper level and accessed by individual steel staircases, with the master suite featuring a large walk-in closet with floor-to-ceiling storage. The duplex is located in a full-service condominium with a doorman and concierge services, landscaped private mews, and access to an on site Equinox health club.

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A Blessed Pair: Two Manhattan Townhomes Owned by Nuns Sell for $18.8 Million

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Built in 1850, the houses were later combined to create a mega-mansion

BY GINA FARIDNIYA

ORIGINALLY PUBLISHED ON AUGUST 18, 2016 | MANSION GLOBAL|

The Greek Revival-style townhomes, located at 236 and 238 East 15th St. in Gramercy, were acquired by the Missionary Sisters of the Immaculate Heart of Mary in the early 1940s. -COMPASS

Two Manhattan townhomes occupied by nuns sold for $18.8 million in a deal that closed Wednesday, Mansion Global has learned.

The Greek Revival-style townhomes, located at 236 and 238 East 15th St. in Gramercy, were built in 1850. The Missionary Sisters of the Immaculate Heart of Mary acquired the property in the early 1940s, according to listing agent Lisa Kobiolke of Compass.

The townhomes were later combined to create one 52-foot-wide mansion with 18,720 square feet of living space. There are a total of 20 bedrooms and 20 bathrooms. The property includes a garden.

By the 1960s, the sisterhood’s ranks had dwindled, and it began renting rooms to young women and other congregations, as reported by the New York Times. By June, only one sister lived there, and so the order put the property up for sale. It listed at $19.75 million about two months ago.

The buyer intends to live in one of the townhomes with her family and transform the other into student housing to generate income, according to Ms. Kobiolke.

The homes were originally occupied by Lewis L. Squires, a local ship chandler, and Mahlon Day, a printer and seller of children’s books, before they were acquired by the sisterhood.

Some of the proceeds of the sale will pay for the sisters’ relocation to the Bronx, while the remainder will be donated to missions around the world, according to Ms. Kobiolke.

Write to Gina Faridniya at gina.faridniya@dowjones.com

 

Cute Midtown East Co-op With an Enormous Atrium Wants $999,000

This one-bedroom apartment in the Beekman Hill House co-op would be fairly mundane if not for one glorious feature: it has a wraparound terrace that surrounds three sides of the apartment, along with a 32-foot glass-enclosed atrium. For someone who loves outdoor space, it could be the perfect pad.

The apartment is otherwise pretty standard, with one nice-sized bedroom, a renovated kitchen, and a sunken living room. There are lots of nice touches, though, including the French doors that open from the bedroom onto the atrium, and the abundance of closet space. The building itself is also located on East 51st Street, which ends in a nifty little cul-de-sac that offers the illusion of privacy. One drawback: the high maintenance of $1,828 per month, which is on top of that $999,000 asking price.

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Dylan Hoffman - #1 Broker in New York City By Transactions | Wall Street Journal & Real Trends 2016

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Congratulations! Today Dylan Hoffman was named the #1 broker in New York City, based on transaction volume.

This past month Dylan has been awarded numerous top rankings both in the City and nationwide.  

  • #1 Broker in New York City By Transactions

  • #4 Broker in New York State By Transactions

  • #26 Broker in New York Sate By Transaction Volume Amount 

  • #82 out of 2,500,000+ Brokers in the US By Transactions

  • #101 out of 2,500,000+ Brokers in the US By Transaction Volume Amount

Top 500 Real Estate Agents/Brokers In The Country - Dylan Hoffman #101

June 24th, 2016

There are over 2,500,000 real estate agents/brokers in the United States, Dylan Hoffman was ranked number 101 out of all of them based on transaction volume. 

The REAL Trends 500, now in its 29th year, remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms. Firms are ranked by both transaction sides and sales volume. Due to the requirement that all information be independently verified, the REAL Trends 500 remains the trusted source for information about the performance of these firms. For the 2016 REAL Trends Survey firms needed to close a minimum of 1,702 transaction sides in 2015 to place in the top 500. Click on the links on this page for a full list of these 500 elite brokerage firms ranked by sides, as well
as a ranking of the top 500 by sales volume.

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A $16 Million Westchester Lake House With Golf Greens, Illegal Beach

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A $16 Million Westchester Lake House With Golf Greens, Illegal Beach

The 10-acre estate, an hour's drive from NYC, has had just three owners in 90 years.

James Tarmy jstarmy

June 8, 2016 — 7:30 AM EDT 

Mark Mosello, an outdoor lighting designer whose business, Design Lighting by Markshas lit the estates of financiers like Sanford Weill and Jamie Dimon, is selling a mansion of his own. The six bedroom, eight-bath house is on offer for $15,985,000.

The original house was built in 1928, and significantly enlarged by the present owner.

 The property sits on over 10 acres.

Mosello has lived in the house for more than 25 years. "My broker found this unbelievable piece of property, this was in 1990 when the housing market was as bad as it was in 2008," he said during an interview. Offered at $1 million, "I couldn't afford it, but I couldn't afford not to buy it,"and after paying a $240,000 downpayment, moved in.

At the time, the house was just about 2,200 square feet, Mosello said. Built in 1928 for a descendent of Enoch Mead, who owned the entirety of Lake Waccabuc and the surrounding area, the house has had a total of three owners; the Mead family sold it in 1940 to a composer who lived there for 50 years, said Mosello.

The home's interior.

The property also has a one-bedroom guesthouse, a 100 foot-long dock, and a boat house.

There are a total of six bedrooms.

"Originally, the boathouse was across the lake, and one winter they pushed it across the ice," said Mosello. "That's how it came to be part of my house."

Eventually, Mosello found that the house was too small to raise his five children, and in 2001 built a 6,000-square-foot addition to the main house, adding five bedrooms and three full baths. In total, the house now spans just under 10,000 square feet.

The house looks out onto conserved land.

The house looks out onto conserved land.

Mosello is also finishing up a recent interior renovation, where he's transformed five rooms in the original house into three larger spaces.

"And out of the master bath we have a set of staircases that lead to a 40-foot-long dressing room," Mosello said, noting that the dressing room has its own terrace and "the most unbelievable view."

One of the home's eight bathrooms.

That view looks out over the property, which has two golf greens, a driving range, and 10 tee boxes for 10 different golf shots, Mosello said. There's also an infinity pool and a heated spa that can be used year round. The property has 300 feet of direct waterfront, along which Mosello installed about 60 feet of beach, for which he paid a "huge" fine. ("I'm not good at following rules," he said during a phone call.)

The house, which is about an hour's drive from Manhattan, is far away from the road—even the gate is set 100 feet back "so that it's understated," Mosello said, adding that he leveled the driveway and spent "about a zillion dollars to do it."

"When you start talking about the house you realize how unique it is," Mosello said. "But I don't notice because I've lived there all my life." 

One of the home's eight bathrooms.

181 Mead Street in Waccabuc, NY is listed by Elise Knutsson of Douglas Elliman and Dylan Hoffman of Compass.

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187-Year-Old West Village Carriage House Receives $4M Price Chop

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187-Year-Old West Village Carriage House Receives $4M Price Chop

Two years and two price adjustments later, the 19th-century home will try again with a lower ask

BY AMEENA WALKER JUN 7, 2016, 4:00P

A few months back, it was agreed that despite its magnificent charm, the 19th-century carriage house at 29 Downing Street would need a good price-chopper before a buyer would snatch it up. The owners must have come to this same realization—the home is now asking $8.995 million—a $4.005 million price cut from its most recent ask of $13 million.

Back in June 2014, the 3,480-square-foot home, built in 1829 on land once owned by Aaron Burr, was listed for $12 million. No one bit at that price so the sellers, artist John Bennett and photographer Karen Lee Grant, re-listed the following year for $13 million (yes, we scratched our heads at that too). But it looks like reality has set in, and with that came the new lowered price.

Hopefully the charming home, which has been featured in photo shoots for magazines and fashion brands alike, will have better luck finding a new owner on this go-round. (Or maybe the Hamiltoncraze will make people more interested? It's big enough to get mentioned in the brokerbabble, anyway.)

Your new home awaits.