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Co-op Branding Press Kit NEWS/PRESS

"10/15/10: Stribling, one of New York's premier real estate firms, has hired CO-OP to rebrand the company after almost 30 years of successful real estate leadership. The initiative was announced at Striblings Annual Meeting today."

Inc. Magazine
October 2010: Spotlight on Small Business Advice
Q&A
Ask Us Anything


If you have a nagging question about running a business, go to Ask.Inc.Com, a new site from Inc. and Mahalo, the popular answers website. Ask questions of your fellow entrepreneurs. Learn more about a variety of topics, including starting a business, hiring, accounting, and technology. or lend your expertise and answer questions posed by fellow entrepreneurs. here are edited excerpts of recent conversations.

Q: What are the best ways to make your business more attractive to buyers?

The single biggest thing you can do to make your business more attractive to an acqirer is to create recurring revenue. The biggest fear a buyer has is that your business wil dry up when you leave. To mitigate this fear, show a buyer that your business generates money when you sleep. The more recurring revenue you have, the more attractive your business will be to a buyer and the better your chances of getting your money up front and avoiding an earn-out. JOHN WARRILLOW (ABOVE), AUTHOR OF BUILT TO SELL

Q: What is the most effective way to turn existing customers into repeat customers?

I've found huge benefit, as the president of our company, in getting a list of our biggest long-standing customers and our least-satisfied customers and putting in calls to them. The call isn't very complicated - just tow parts: one, thank you for your partnership, and two, what could we be doing better for you? After you get the customer's feedback, follow up quickly, giving them an update on where their questions/suggestions/problems stand. JIM RODDY, PRESIDENT OF JAMESON PUBLISHING IN ERIE, PENNSYLVANIA

Q: How do I make sure remote team members are actually working when they say they are?

Set clear deadlines and goals. We always tell people (even when they work in our office) we about results, not face time. For example, we have a sales rep who works remotely, part time, on salary and comission. I don't ask her to prove that she worked 20 hours a week. I ask her to show me lists of calls she has made, the results of the calls, and time spent with clients. GINGER GENTILE, DIRECTOR OF SAN TELMO PRODUCTIONS, A DOCUMENTARY-FILM COMPANY IN BUENOS AIRES, ARGENTINA

Q: How do you overcome sales objections from a prospective client concerning the relatively small size of your business?

Be a knowledge expert in a particular industry that you want to target. Often when prospective clients know that you are an expert in their industry, they are willing to compensate/work around issues such as size of the company.
RUPAM PATHEJA, MARKETING DIRECTOR OF CO-OP, A NEW YORK CITY BRANDING AGENCY

Q: Is it good for a teenager to have a small business?

I am an entrepreneur who started a business last year at the age of 19. I've learned business principles and gone through hardships that other students, peers, and friends have not. i've learned how to market a business and how to speak to many different types of people. Starting a business when you're young is a great idea. Don't let it get in front of college or whatever you're pursuing, but let it be there as a new learning opportunity.
- VINAY KHETARPAL, FOUNDER OF NEED-THEGEEK.COM, AN IT CONSULTING PRACTICE IN GERMANTOWN, MARYLAND.

THE SALT LAKE TRIBUNE
Paul Fraughton | The Salt Lake Tribune The gondola at The Canyons Resort Thursday, August 19, 2010
Utah's Canyons resort unwraps multimillion-dollar upgrades
By Paul Beebe The Salt Lake Tribune
The biggest upgrade of The Canyons in at least 14 years is steaming toward completion in time for the official start of the resort's ski season on the day after Thanksgiving. Several projects are under way that will add more trails and lifts, relocate the gondola and double The Canyons' snow-making capacity, resort executives said Thursday. "In the past, we've added a couple of lifts and done some small improvements. But this is the first time we've done this many projects in this short a period of time — all to elevate the experience of the guests," Todd Burnette, vice president of marketing, said. The price tag is unclear. Burnette said he didn't have a firm figure, but he acknowledged that Canyons owner Talisker Corp., which bought the resort in 2007, is spending "tens of millions" of dollars. Work started as last ski season's snow melt began in April and ramped up through the summer. With just a month remaining before autumn begins, the resort timed the unveiling of the projects to catch the attention of skiers whose thoughts are starting to turn to schussing. "We wanted to get this information out, especially as locals are starting to decide where they will buy their season tickets," Burnette said.

Details of the project: • To speed customers onto the mountain, the base terminal of the eight-passenger Flight of the Canyons gondola is being moved closer to the uphill terminus of the cabriolet "people mover" lift. That lift starts at the parking lot at the bottom of Canyons Resort Drive. Instead of walking 150 yards between the cabriolet and the gondola, customers will now need to walk only a few feet. • The Golden Eagle chair lift serving Lookout Peak is being torn out. An as yet unnamed high-speed quad lift will replace the slower two-seat Golden Eagle. The new quad will start from the old gondola base terminus. Burnette said the new quad will increase capacity to the top of Lookout Peak by 47 percent. It will continue on to a termination point south of Sunpeak Lift. Travel time will be nine minutes. Right now, the new quad is being called the "orange-bubble chair." Burnette said skiers will sit on heated seats inside see-through orange bubbles that evoke the feeling of being inside a pair of ski goggles. • Ten runs ranging from intermediate to advanced-intermediate are being carved on the northwest face of Iron Mountain. • A 4,000-foot high-speed quad lift will carry skiers and boarders to the top of Iron Mountain. • The resort is building a reservoir on the mountain above Lookout Peak and Sunpeak that can hold more than 18 million gallons of water, Elizabeth Dowd, Canyons spokeswoman, said. The water will be used to double the resort's snow-making potential. The extra capacity will allow customers to ski all the way to the foot of the mountain on the first days of the season, when natural snow is insufficient to cover the runs from top to bottom, instead of riding the gondola to the base. • A public area called the Ski Beach will be located between the base of the new gondola and the new quad lifting skiers to Lookout Peak.

CANYONS / TALISKER / SKI LIFT
'Canyons' announces major expansion plans
Uphill capacity to increase 47 percent
Andrew Kirk, OF THE RECORD STAFF
Posted: 08/20/2010
Talisker will be "re-creating" its Park City resort over the next 15 months. Changes to be ready for opening day include new branding, new gondolas, new lifts and a new village center. Branding

The Canyons Resort is now to be called just "Canyons." Paul Boardman from New York was recently hired as the company's new director of brand, strategy and development and explained that "Canyons" is more appealing at a Thursday press conference.

He also said he will be pressing the question, "How do you mountain?" People have an emotional connection to mountains and Talisker wants to tap into that, he said. "What are people's expectations, desires and emotions with the mountain?" he asked rhetorically. "Here people have some of the most strong, most passionate connections as with any terrain in the world."

A new series of video ads features people explaining what spending time at Canyons means to them.

Transportation
In addition to introducing its new campaign, the press conference also unveiled three new ways to get up the slopes. The base of the Flight of The Canyons Gondola is moving to directly across the village center from Cabriolet Lift, dramatically shortening the walking distance for people parked below the resort. The direct-connect gondola will still transport guests from the village center to the Red Pine Lodge. The gondola cabins will also be upgraded.

Where the gondola base had been will feature the resort's new high-speed quad lift that Talisker is calling "orange bubbled" and "state-of-the-art." As guests sit down on the padded and heated seats they will pull down an orange, bubble-like enclosure. Managing Director Mike Goar said the color is visually striking from the outside, and makes colors "pop" from the inside like a pair of giant ski goggles. Goar said he believes there may be none like it in North America; the inspiration came from Austria. The new lift will take guests to just south of Sun Peak Lift in nine minutes and will increase uphill capacity by 47 percent.

Skiing/Snowboarding
Iron Mountain to the very south of the resort will see 300 aces of new, northwest-facing skiable terrain. This will include 10 new runs including intermediate to expert, and glade tree skiing, bringing the total at the resort to 176 runs. The construction will include a new detachable quad lift. Timberline Lift will also give guests access to the area. According to resort spokesperson Elizabeth Dowd, "The new lift will enhance the ease of skiing both north and south off of Lookout Peak and guests will be able to ski directly to the Red Pine area. The south end of the resort is accessible via Timberline Lift which you can ride in both directions. It has stations at the bottom of Tombstone and the bottom of the new Iron Mountain Lift." Goar said many of the complaints guests have had since Talisker bought the resort two years ago can be addressed through improved snowmaking so Canyons is constructing a 20-million-gallon reservoir. The water and other infrastructure investments will more than double the resort's snow-making capabilities and provide a more reliable early-season experience, he said.

He also anticipates this development to significantly improve the resort's rankings in SKI Magazine's annual survey.

Village Center
Boardman said something the resort is lacking is a way for guests to relax between runs. That's why changes to the village center are also planned including a "ski beach." Located between the bases of the new gondola and new quad lift, guests on the beach can order food and beverages from breakfast to après ski. It will also make an appropriate venue for events, according to a press release.

Boardman said these changes are part of why Smokies Bar and Grill was torn down. "All you saw was the back of a bar. Now you're looking at the slopes," he explained.

Ready by winter
Goar said these changes will be ready by opening day. More are coming before opening day 2011. Everything Talisker has envisioned for the resort's "re-creation" will likely be completed within five to seven years.

An increase in ticket prices will be required to help fund the projects, but Goar said it won't be more than guests might anticipate or be comfortable with. He also expected the resort to employ 100 additional people this year.

Goar said he believes these changes are the most significant improvements any resort is making in North America this year. They may be the most significant improvements made in years, he added. Furthermore, he anticipates the first phase of construction to attract attention and raise the profile of Utah skiing. "The strength of this business in the long term is the synergy that exists with the other resorts," he said. "Our investment here is part of the larger thesis of Utah skiing," Boardman added.

Boardman said in a new video spot that his experience with the mountains began on hikes with his father in the White Mountains of New Hampshire. He said in the press conference he is a newcomer to the ski industry, but is an expert in helping people make an emotional connection to a brand.

CANYONS / Talisker / ski lift
Deseret News
The Canyons in Park City to add heated lift seats, snow machine
Published: Friday, Aug. 20, 2010
PARK CITY — Skiers and riders at The Canyons Resort this winter will be treated to heated seats and ski lift chairs covered in weather-protected orange plastic. The "bubble" chair lifts were purchased from Austria and will be the only ones of their kind in the U.S., said Mike Goar, the resort's managing director. "That heated chair — it changes your whole outlook on a cold day," Goar said.

The resort also plans to change its name to "Canyons," leaving off "The" and "Resort." It will rebrand itself, starting with an ad campaign that asks, "How do you mountain?" Some of the transformation will take place in about 18 months, but changes on the slopes could take five years or more.

Beyond the new-age bubble chairs, Canyons and its owner, Talisker, have purchased a snow-making machine and a 20 million-gallon reservoir, plus a lift to Iron Mountain that opens 300 acres of new terrain. If everything goes as planned, that would put the resort at about 4,000 skiable acres, with a total 176 trails. That terrain, especially in high elevations, will allow an increase by about 50 percent in the number of skiers who get to the top, due to the lift featuring the orange bubble seats. The new lift replaces the Golden Eagle. New amenities will come with "a small amount" of increase in both daily and season ticket prices starting this year, Goar said. The figures have yet to be announced. Citing its privately held status, Canyons also declined to comment on how much was spent on the upgrades, how many visitors it has annually or how many more visitors it expects in 2010/2011. However, resort managers said they plan to add about 100 employees during peak times, bringing the total to 1,700. This summer, the company has had about 150 construction workers at the resort.

Park City Chamber of Commerce spokesman Craig McCarthy, himself a skier, attended Thursday's announcement. Like all other news conference attendees, he was soaked in a chilly rainstorm that broke out just as the orange lifts were unveiled. "It's great news in a lot of ways," he said of the resort's plans. "It's good for Park City, for the ski industry and for employment." McCarthy added that the increased uphill capacity will be great, especially during winter holidays.

Announcements in the near future will include news of additional restaurants and bars at the "Canyons ski beach." Additional parking space also could be on the agenda. "We want to focus on the skier experience" said Paul Boardman, a new member of the Canyons executive team. "We believe that a mountain is a lot more than a pile of rocks."

My Life at Toren campaign deemed as "a new benchmark in real estate marketing."
TOREN Branding
Brokers Weekly, August 11
Marketing Strategies -- Let's talk about Toren
The branding hot-shots at CO-OP helped come up with a cool new campaign to market Brooklyn high-rise, Toren.

In what developer BFC Partners calls a "bold and innovative" move, a viral marketing program has been launched using home videos of new residents talking about their life at Toren. "Every brand is different, so identifying and understanding an audience is vital to us in creating an authentic, engaging connection," said Paul Newman of CO-OP. "Knowing that Toren's brilliant design would attract creative people, who had something interesting to share, we were able to create a campaign with a certain honesty and openness that we think the real estate community and buyers will appreciate."

CO-OP worked with the developer for over three years to help drive a collection of "authentic, provocative, and uncensored" videos created by the residents, who were given Flip cameras for two weeks to document their lives at the building. The videos have appeared on both youtube.com and mylifeattoren.com. "Nothing about Toren is traditional," said Don Capoccia, managing partner of BFC. "From its unique facade and unparalleled design, to its dramatic units and interiors, to the innovating marketing we've completed to date, Toren stands apart.

"With Toren, we knew we had to set a benchmark in the way real estate is marketed, and find new ways to reach an audience directly."

"My Life at Toren" offers prospective buyers an intimate look inside the building, with its great amenity spaces, its local culture and emerging neighborhood. They also get to "meet" their potential new neighbors via video, all enjoying their new homes and eager to share their excitement about Toren.

Striving for Gold LEED Certification, Toren prices starts from the mid-$300s through $1.7 million with 25-year tax abatement, and the building is ready for immediate occupancy. The 240-unit tower is approved by both FHA and Fannie Mae. It is close to 65% sold, according to the developer, and the exclusive agent is Halstead Property.

My Life at Toren campaign created by CO-OP for Toren, was featured in the Real Deal.
TOREN
The Real Deal
Toren takes reality angle in ad campaign
July 19, 2010 05:30PM
Riding the wave of reality television's Faustian draw, developer BFC Partners' Toren residential development has launched a new ad campaign featuring residents at the Downtown Brooklyn building "collectively and honestly sharing their experiences at their new homes." Residents at the building were given flip cameras for two weeks, to document their experiences in the 240-unit condo at 150 Myrtle Avenue. Since then, the Toren team has posted the videos on its sales site, to "reach an audience directly," said Don Capoccia, managing partner with BFC. Prices range from the mid-$300,000s to $1.7 million, according to the developer, and the building is roughly 65 percent sold. Sales launched March 2008, with Halstead Property exclusively handling marketing for the development. In the video above, two neighbors cavort over a haircut in a Toren unit. TRD

Wall Street Journal reported 30 new contracts at Toren since the launch of "My Life at Toren" campaign in April 2010.

TOREN

Wall Street Journal, JULY 15, 2010
Brooklyn Shows Its Appeal for Buyers

When Steve Deitsch felt cramped and decided to leave Manhattan, he picked Brooklyn because of the promise of a bigger space, charming shops and cool restaurants.

After a lengthy search—he and his partner attended some 100 open houses—they found 660 Bergen, where they paid $715,000 for a two-bedroom unit in early May.

Moving there was a "no brainer," says Mr. Deitsch, the owner of Reverberate Marketing Communications. "That's where all the cool stuff is moving to."

Others agree: The number of home sales in Brooklyn, New York City's most populous borough, jumped 16.2% in the second quarter compared with the year-earlier period, according to new data from Prudential Douglas Elliman.

Prices were also higher, with the median price gaining 5% in the second quarter to $463,000 from a year earlier. While that shows strong improvement, median prices remain 20% below peak levels in 2007.

"What we've seen this year is a tremendous rebound," said Michael Guerra, director of sales for Prudential's Brooklyn division. He said that buyers are confident that the worst of the financial crisis has past and they don't believe that prices will decline in the future.

For the city overall, results are mixed. Queens saw a second-quarter sales spike of nearly 90%, but that came at the expense of a 7.5% median price decline. Manhattan—long the strongest, priciest and most sought-after market—saw sales surge 80% and the median price gain 7.6% to $899,000. Brooklyn is known for attracting younger and more artsy buyers, as well as young families.

"We're at a point now where, for the most part, things are not getting worse," said Jonathan Miller, president of Miller Samuel Inc., co-producer of the Elliman report. Mr. Miller doesn't release formal data on the Bronx or Staten Island, but he follows those markets and says things are firming up as prices and transactions stabilize across much of the city.

While many agree that New York City skirted the worst of the housing crash, caution remains as the national economy works to avoid a double-dip recession. Unemployment persists, keeping many would-be buyers out of the market.

And even for those who want to buy, credit requirements remain tight, particularly for jumbo mortgages on bigger-priced purchases, which account for the bulk of the New York City market.

The data from Prudential represent closed deals, meaning that the sale contracts were signed months ago. Some economists worry sales may have slipped in recent weeks, although that data won't be released for months.

Several deals are in the works at 80 Metropolitan in Williamsburg. Meanwhile at the Toren in downtown Brooklyn, steady traffic has led to 30 sales contracts since late April—deals that will show up in coming quarters.

"There's definitely a momentum where people have left the sidelines," said Vanessa Connelly, sales manager of the 240-unit project that is nearly 65% sold. In the second quarter, Brooklyn's North region, including Williamsburg and Greenpoint, reported a 10.2% price gain to a median $585,000 from a year ago. Prices in South Brooklyn—Coney Island and Sheepshead Bay—gained 9.7% from a year earlier to $447,500.

While sales also surged in the upscale Northwest section, it wasn't enough to boost prices. The area, which includes popular Park Slope and Red Hook, saw a 3.4% price decline from a year ago.

In East Brooklyn, the median price dropped nearly 17%. That region, including Crown Heights and Bedford-Stuyvesant, has been hard hit by the foreclosure crisis, depressing prices. It is also closer to Long Island's Nassau County.

"It's less of a bedroom community for people who are [working] in Manhattan," said Prudential's Mr. Guerra.

Success for My Life at Toren campaign. In less than a month of launch, the new "my life at Toren" viral video campaign by CO-OP, has increased sales for Toren and generated over 6500 site visits.

TOREN
Wall Street J
A Tower Grows at Flatbush and Myrtle
A high-rise called Toren hovers over Brooklyn's jumbled cityscape like a sci-fi robot elevated on a platform of dimpled, zigzagging metal panels.

"It's like something from outer space," says Deborah Johnson, who walks past the new apartment tower on the intersection of Flatbush and Myrtle a few blocks from the Manhattan Bridge on her trip home from work.

The 38-floor Toren, the Dutch word for "tower," was developed by BFC Partners and is the latest high-rise condo to colonize a stretch of Flatbush Avenue that was rezoned in 2004 to allow for a departure from Brooklyn's rowhouses and low-slung buildings. The rezoning of Flatbush was part of the city's plan to transform the area into a more vibrant urban environment.

But unlike the towers that have already cropped up, Skidmore, Owings & Merrill's ambitious design of Toren abandons the conservative look and cream-colored brick that characterize surrounding buildings.

Instead, Skidmore architect Roger Duffy chose a jumble of black and white tiles for the building's facade.

The need to build as many square feet as allowed by the new zoning regulations, Mr. Duffy says, required an unremarkable shape for the building with a large base and a skinnier tower. "Our ambition was to make this prescribed shape less recognizable," he says.

The textured metal panels and the dark tint of some of the windows contribute to an "optical illusion" that makes the building "potentially more attractive than the underlying shape would allow it to be," Mr. Duffy says.

Up the street is Forest City Ratner's Atlantic Yards project. "Over time it's going to mature and it'll be a different kind of place," Mr. Duffy says of the stretch of Flatbush occupied by Toren. But some are nervous. Standing at Toren's base, Manhattan attorney A. Mason says, looking upward, "The reason I chose to live in Brooklyn is because it does not look like that."

Real Estate Weekly
May 5, 2010
Goris family to open new, upscale grocery on Myrtle


BFC Partners announced that they have signed a lease with the Goris Family to open an upscale, eco-friendly supermarket in 11,000 s/f, ground floor retail space at Toren, the 240-unit new condominium at 150 Myrtle Avenue in Brooklyn.
This will be the first supermarket of its kind to open along the Flatbush Avenue Corridor in Downtown Brooklyn, addressing a major need for the thousands of new residents preparing to call the neighborhood home over the next several months.
"We're very happy to have found a tenant for Toren's retail space who will bring a greatly needed service to the entire neighborhood," said Donald Capoccia a partner with Joseph Ferrara and Brandon Baron at BFC Partners, the developers "With a dedicated amount of space geared towards fresh foods and produce, the grocery store will be eco-friendly and compliant with NYC's green market zoning program, making it a great fit for an environmentally conscious, LEED certified building like Toren. It will be a great shopping destination for residents throughout Downtown Brooklyn."
The grocery store will be flagship store for a high-end brand, yet to be named. In addition to fresh foods and, the store will offer prepared foods, catering, a sushi bar and an Internet delivery system.

The Real Deal reported that Forest City Ratner's DKLB, a CO-OP branded development in Fort Greene, is almost 60% leased in since it's launch three months ago.
Slew of new rentals coming to market
March 02, 2010


Citi Habitats' managing director of new development marketing, Clifford Finn, gave The Real Deal the scoop on several new development rentals the company will be marketing this spring.

In early April, Citi Habitats will begin leasing units at the Ashley, a 209-unit luxury rental building developed by Extell Development. Located on 63rd Street between West End and Riverside, the Ashley is the sister rental tower to new condo the Aldyn.

The two buildings are slated to share a 37,000-square foot amenity space complete with a bowling alley and 75-foot pool, Finn said. Though rents haven't been finalized yet, he said studios will likely start at around $2,500 per month, one-bedrooms at $3,200, two-bedrooms at $4,600, and three-bedrooms at $10,000 per month.

The high prices are justified by large sizes for rentals, Finn said, noting that two-bedrooms will range in size starting at 1,200 square feet, and three-bedrooms will start at 1,800 square feet. "It's meeting the need in that area to have a larger rental product," he said. "Typical rentals can be very tight."

Starting in mid-May, Citi Habitats will be handling rentals at the Addison, a 270-unit project on Schermerhorn Street in Downtown Brooklyn from Broadway Management Company, the developer of new Manhattan condominium Sutton57. Rentals of the Addison's studios and one- and two-bedroom units will start in mid-May for summer occupancy, Finn said. Downtown Brooklyn has exploded with new rentals recently, including another project Citi Habitats is marketing, Forest City Ratner's 354-unit 80 DeKalb Avenue. But Finn said rentals in the neighborhood are "absorbing nicely," noting that Citi Habitats has rented 140 of 80 DeKalb's 292 market-rate units, with a helpful incentive in the form of two free months of rent. Also in May, Citi Habitats will start leasing at Lalezarian Properties' new rental project at 350 West 37th Street at Ninth Avenue. The 80/20 project is tentatively being called "Townsend," though that could change.

The building has 165 market-rate units, Finn said. Lalezarian Properties is also the developer of BKLYN Gold in Downtown Brooklyn. In 2011, Citi Habitats will also be marketing a 53-story rental tower on 32nd Street and Sixth Avenue for Atlantic Development Group that has yet to be named, Finn said. Finn said he couldn't comment on whether Citi Habitats is in the running for a contract at what could be perhaps the year's most sought-after new rental development: Frank Gehry's 76-story Beekman Tower at 8 Spruce Street, which will have some 900 rental units.

Meanwhile, he said, Citi Habitats has leased 50 percent of 935 market-rate units at Larry Silverstein's Silver Towers at 42nd Street and 11th Avenue in the nine months since the project came on the market. The project, like 80 DeKalb, is still offering two free months of rent to new residents, he said.

DKLB on Curbed
Curbed featured CO-OP's newly branded Forest City Ratner Rental, DKLB BKLN, and its new personality.
Inside 36 Stories of Brooklyn's New Luxury Rental Livin'

Straddling the Downtown Brooklyn/Fort Greene border and climbing 36 stories high, the 80 DeKalb Avenue luxury rental tower has been known as the new big Brooklyn thing that developer Bruce Ratner actually built. But lately it has taken on a new identity, DKLB BKLN, and this ready-to-go entry in a crowded field of new neighborhood rental towers (Avalon Fort Greene, The Brooklyner, etc.) is showing off its new personality. The DKLB BKLN website has been fully fleshed out, including a peek at some rental rates. Under "Availability," the mentioned rents for December move-ins start at $1,955 for studios, $2,255 for 1BRs and $3,400 for 2BRs. It's amenities galore at 80 De-pardon us, DKLB BKLN. A sampling: sun deck, screening room, valet parking(!), 24-hourdoorman, gym, billiards lounge, private terraces and sweet sweet washer/dryers. It's no Nets arena, but for Bruce, it'll have to do. For now!

Crain's New York
Village condo conversion sells out first batch
ublished: April 19, 2010 1:28 PM

Devonshire House on University Place looks like a home run for investors, including New York Mets' owner; small Brooklyn building sells six of its nine units in a month. n another sign of an improving Manhattan residential market, all the units that were put on the market late last year in the Devonshire House, a condo-conversion in Greenwich Village, have now been sold, according to Stribling Marketing Associates, the exclusive marketer for the project.

Since sales began at the Emery Roth-designed, pre-war rental building seven months ago, 37 units have gone into contract. Among the buyers were tenants of 10 rent-stabilized units, who have decided to take advantage of a purchasing discount in the building to buy their respective units or new ones. The state attorney general's office recently declared the Devonshire condo plan effective, so the developers expect to begin closing on some of the units as early as next month, said Robert McCain, a broker at Stribling. Four to five more tenants are currently interested in buying, he added.

"Our sales have been faster than anticipated," Mr. McCain said. "We came on the market right after Labor Day, and we benefited from the pent-up demand in the market."

On the far side of the East River, sales at one new building are going even faster. The Solis, a six-story, nine-unit condominium development at 174 Clermont Ave. in Fort Greene, Brooklyn, has sold two-thirds of its units since marketing began one month ago, according to a press release from Halstead Property Development Marketing on Monday. Three units remain.

At the Devonshire in the Village, Mr. McCain attributed the brisk pace of sales to a lack of condos in the area of the property, which is at University Place and East 10th Street, as well as the building's finishes and interior designs by Victoria Hagan. Units have gone into contract for close to the asking price. In some of the more unusual units, Mr. McCain noted that prices had actually increased several times since marketing began. In other cases, buyers were able to negotiate with the developers on closing costs such as transfer taxes.

Conversions and renovations at the 103-unit building are still ongoing. There are currently six units listed for sale at the Devonshire. They range from a one-bedroom for $1.6 million to a four-bedroom penthouse with terrace and fireplace for $12.5 million.

It is unclear how many units will eventually be converted into condos since the developers are still negotiating with tenants, but ultimately it is expected that the building will be 60% condo, Mr. McCain said. Currently there are 54 rent stabilized tenants living in the building. When renovations are completed, renters and owners will have access to the new amenities, including a fitness center and a children's playroom.

"An Emory Roth building will always be a commodity in New York, but Devonshire House specifically combines a sophisticated uptown sensibility with a prime Greenwich Village location," said Ric Swezey, a broker at the Corcoran Group. "When a condo conversion manages to pull-off the best of old-world and modern living, it will attract a wide array of buyers, and that seems to have been accomplished at Devonshire House."

Cheshire Group and Sterling American Property, the firm controlled by New York Mets owner Fred Wilpon, acquired the Devonshire from its previous owner, William Felder, for approximately $120 million in late 2007, with the intention of converting the historic building, with its blend of traditional Italian and English detailing, into a condo. At the time, the group was one of the few to complete its financing amidst the credit crisis.

Correction: The Devonshire House is located in Greenwich Village. That fact was misstated in an earlier version of the article published April 19, 2010.

Boston.com
Legacy Place continues to grow
Posted April 30, 2010 09:09 AM
by Michele Morgan Bolton, Globe Correspondent
As the rest of the economy spins its wheels, officials at Legacy Place say the Providence Highway shopping center is surging forward, defying the odds in hard times as it signs new tenants and opens new stores.

In fact, said David Fleming, a spokesman for developer WS Development, the 675,000-square-foot mall at the junction of Route 128 is almost at full capacity.

Legacy Place is a joint venture of National Amusements and WS Development. It already features popular anchor stores like Whole Foods Market, L.L. Bean, Showcase Cinema De Lux, Borders, and Kings, he said.

But now the shopping center is ready to welcome a range of businesses that have recently signed leases, including clothiers Love Culture, Chicos, and White House/Black Market; Wicked Fire Kissed Pizza, created by local owners Robert and Sheri Catania; and Dandelion, an affordable boutique, according to Fleming, offering handcrafted jewelry.

A number of other ventures opened in March, he said, including the 10,000-square-foot Yard House, a casual restaurant; Beauty and Main, a 1,000-square-foot cosmetic and skin care boutique; J.P. Licks, which features homemade ice cream and non-fat frozen yogurt made at its original Jamaica Plain location in the new 1,700-square-foot location; and Francesca's Collections, a 1,330-square-foot store selling fashion-forward styles in women's clothing, accessories, and gifts, Fleming said.

"There are only a few spaces remaining,'' Fleming added. "We're pleased with how rapidly we're signing leases and believe the stores we're adding are nicely rounding out our retail mix."

Construction Watch: 'Forgotten Ratner' Shows Its Face
What, with Bruce Ratner's massive Atlantic Yards nearby, it's only understandable that the rising 34-story tower at 80 Dekalb Avenue on the Downtown Brooklyn/Fort Greene border became the "forgotten Ratner." But with Atlantic Yards looking as likely as a Nets playoff run, it's time for 80 Dekalb to get the attention it deserves. Forest City Ratner enlisted prolific architect Costas Kondylis for this building, which will have 292 rental apartments (20% of them "affordable"). When we last checked in, the structure was just beginning to rise. Now, via the photos above dropped in the Curbed Photo Pool, we see that the prefab panels are already being hoisted into place. If only all Brooklyn construction got on so quickly, eh Brucey boy?

Construction Watch: Ratner's Big Kondylis Rising in BK
With all the Bruce Ratner talk that swirls around Atlantic Yards, there's a forgotten Ratner. This is it. It's 80 Dekalb Aveue, just a block in from Flatbush and it will be a 34-story Costas Kondylis-designed glass number straddling the Fort Greene-Downtown Border. When all is said and done the Ratner-Kondylis tower will have 292 units, 73 of them "affordable" housing. Oh, yeah, and the devleopment got $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds.

Ratner Rising in Fort Greene
Developer Bruce Ratner's Costas Kondylis-designed, 34-story residential tower at 80 DeKalb Avenue is both underway and has gotten a boatload of financing, much of it tax free. "The glass building will join the Forte Condo (at Ashland Place and Fulton Street), and the soon-to-be-built Danspace project across the street to form a small mini-city on the edge of Fort Greene, bordering Downtown Brooklyn -- but a taste of the 16-skyscraper-and-arena Atlantic Yards complex to come." The development, which will have 292 market rate units and 73 affordable ones, has gotten $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds.

Columbia University Talk
Columbia University hosted an integrated marketing forum called 'Coordinating a Unified Brand Message.' Presenters included CO-OP's Jim Moran, Young & Rubicam's Global Managing Partner and Berlin Cameron United's President.

DKLB Launches
CO-OP launches DKLB, Brooklyn's newest rental development, for Forest City Ratner and CitiHabitat.

How Magazine
CO-OP's work for Wells Woodwork Custom Cabinetry was featured in "HOW Design Magazine's 103 Award Winning Promotion Projects."

Promotion Design Awards - How Magazine - October 2009
Title: Wells Woodwork Identity
Design Firm: CO-OP, New York City, www.co-opbranding.com
Art Director: Simrit Brar
Designer: Yukai Nishimura
Client: Wells Woodwork

Northrose Launches
Atlantic Development Group and CO-OP launch the South Bronx's latest mixed-use development at Boricua College.

Devonshire House Launches
CO-OP launches Devonshire House, Greenwich Village's newest condominium development, for Sterling American Properties, Chesire Group and Stribling.

Legacy Place Launches
CO-OP successfully launches WS Development's newest mixed-use development, Legacy Place, just outside of Boston MA.

Devonshire House NYTimes
08/28/09

CO-OP's latest brand launch of Devonshire House puts a new spin on Emery Roth's 1928 building.
A New Spin on Emery Roth
WHEN Devonshire House, a 1928 Emery Roth building, was sold in 2008 to a group of developers, marking the end of decades as a prime Greenwich Village rental, residents knew change was afoot.
Construction workers and machinery filled the hallways as the developers, including the real estate magnate (and partial Mets owner) Fred Wilpon, began the process of carving spacious modern condominiums out of the building's 131 modest one- and two-bedroom units. Leases for market-rate tenants were not renewed, leaving only a few dozen rent-stabilized stalwarts in place.

But of the longtime residents who managed to stay, many assumed that the Devonshire's unique aesthetic - a hodgepodge of English, Spanish and Gothic influences - would be left alone. The building, perched on the southeast corner of East 10th Street and University Place, has an eclectic Old World charm and a name-brand architect to boot: Roth, the maestro of Central Park West's Deco skyline, is considered one of Manhattan's finest residential designers. Surely, such features would still prove marketable today. Turns out that prewar appeal has its limits. A large-scale redesign has already ripped up part of Devonshire's distinctive lobby, a time-warped salmagundi of faux-wood walls, Gothic details and an imposing coffered ceiling that brings to mind the faded Oxford common rooms of "Brideshead Revisited." Now tenants are anxious about the fate of what they consider the jewel of their meticulously designed home.

"It's such a destruction of an architectural wonder," said Susan Bolotin, 59, the editor in chief of Workman Publishing and a 30-year resident of the building. "It's a sense of aesthetic outrage. We've been told they can do whatever they want."

Longtime residents consider the lobby singular and charming, a homey but elaborate space that often impresses guests. Stained-glass windows, topped by gothic arches, allow a view of a sunny courtyard, guarded by a row of small Corinthian columns. Elevator doors are embossed with the Cavendish coat of arms, the seal of a family whose ancestral home in England shares a name with the Manhattan residence.

"For as long as I owned the building," recalled William Felder, the former proprietor, "people would come in off the street and just fawn over that lobby." But the new owners, conscious of the real estate consumer's fickle taste, say they are looking to brighten a dingy space. "We are trying to take a tired property and freshen it up," Susan Hewitt, the project's lead developer, said in a telephone interview. "The general effect we are trying to do is make it seem slightly less sepulchral." Ms. Hewitt, who has done condominium conversions on other properties with historic significance, does not draw her adjectives from thin air. The lobby had a sense of shabby elegance: the ornate ceiling is dulled by a tobacco-stained hue, and the yellowish faux-wood floor, a rare feature in Manhattan buildings, is scuffed and scratched. The renovations - assigned to the designer Victoria Hagan - call for the installation of a black-and-white checkerboard floor; a lighter shade of paint for the walls and an off-white hue for the ceiling. A concierge desk is also planned.

The starkest departure from the current look is the black-and-white floor, which some tenants worry will clash with the old-English atmosphere. Ms. Hewitt said the design had "ample historical precedent" in Manhattan prewar buildings, and Ms. Hagan said she was being "very sensitive" to the original. "That's something I think I'm good at, understanding something that's old and giving it fresh life for a new time," Ms. Hagan said recently, while overseeing construction of a new apartment on the building's fourth floor.

It would seem unthinkable to tinker with Roth's more famous works in the city, including the Beresford and San Remo apartments on the Upper West Side; both have landmark status. And wealthy buyers happily snap up 1920s co-ops on Fifth Avenue that contain the best (rock-solid walls, original moldings) and worst (ancient plumbing) qualities of prewar construction. But the success of 15 Central Park West, Robert A. M. Stern's homage to old-school New York living, may suggest that buyers want a more modern take on the classics: prewar with postwar perks.

Meanwhile, the tenants at Devonshire remain unimpressed. A few reached out to preservationist societies in hopes of halting the renovation, to no avail. (Interior spaces can be declared landmarks in New York.)

"The lobby, as it is, is quite beautiful," said David Mann, the president of MR Architecture and Decor, who has rented a penthouse studio in the building for nearly two decades. "I am fearful about what they might do that may never be changed back. To rip out the floors, to me, is a crime." Ms. Bolotin sounded pained when discussing the changes. "I remember moving in and learning about Emery Roth and the buildings he had done on Central Park West; there's a sense of-" she paused, then sighed - "I guess this doesn't mean much, but there's a sense of neighborhood pride. I raised my children there. We've seen generations come and go. People love living there."

The former owner, Mr. Felder, said that the Devonshire's purchasers had every right to change the lobby. "In their defense, I have to say, throughout the years, we've always had trouble maintaining that floor," he said. "You can clean it, but it just always looks dirty."

But Mr. Felder paused when told that a black-and-white checkerboard pattern was under consideration.
"That could be fairly atrocious," he said, after some contemplation. "If it was my decision and I had to replace the floor, I would replace it with some kind of stone."

This article has been revised to reflect the following correction:
Correction: September 6, 2009 _An article last Sunday about planned changes to the lobby of the Devonshire House, a 1928 building in Greenwich Village designed by Emery Roth, misstated the scope of landmark designations in New York. Interior spaces can indeed be granted landmark status.

10/09: CO-OP launches DKLB, Brooklyn's newest rental development, for Forest City Ratner and CitiHabitat.

08/09: Capitus Limited, the Singagpore clothing manufacturer, awards CO-OP their new fashion brand line
Capitus Win
Capitus Limited, the Singapore clothing manufacturer, awards CO-OP their new fashion brand line.

06/30/09: WS Development Inc, one of Boston's premier real estate developers, hires CO-OP to brand and market Legacy Place, the dynamic 675,000 square foot open-air retail environment. The launch is schedule for the fall of 2009.
WS Development Win
WS Development Inc, one of Boston's premier real estate developers, hires CO-OP to brand and market Legacy Place, the dynamic 675,000 square foot open-air retail environment. The launch is scheduled for the fall of 2009.

06/09: IMAX extends their 8 year relationship with CO-OP by hiring the NYC branding agency to develop new branding plaforms for their expanding immersive movie experience. IMAX Branding Win
IMAX extends their 8 year relationship with CO-OP by hiring the NYC branding agency to develop new branding platforms for their expanding immersive movie experience.

06/17/09: MPI invited Jim Moran to speak on "Branding Your Event" at the June conference's continuing education series for the Greater NY chapter. Meeting Professional Internationals (MPI) Talk
MPI invited Jim Moran to speak on "Branding Your Event" at the June conference's continuing education series for the Greater NY chapter.

06/09: The Connecticut College Magazine featured CO-OP partner and alumni, Jim Moran, on the importance of networking with people you trust during these economically challenging times.
Connecticut College Magazine
The Connecticut College Magazine featured CO-OP partner and alumni, Jim Moran, on the importance of networking with people you trust during these economically challenging times.

How Camels Network
Two Camels gave Jim Moran '92 his first break in the marketing and communications business: Matthew Charde '87 and Fred Macdonald '87. Charde, the executive producer at an animation production company in Boston, offered Moran a job as a producer. Three years later he was a senior producer with award-winning commercials to his credit, and he headed for New York City where he's the managing partner of CO-OP, a branding agency, and still networking with other Camels.

NESCAC schools regularly offer networking events for their alumni, and "Connecticut College has far and away had the most alumni attend these events as compared to our peer institutions," Bridget McShane, director of alumni relations, says. The College also provides networking opportunities through the Alumni Online Community, events and receptions, Real World, Seminar on Success, Bridges Mentoring, and others.

"The common thread that ties my Connecticut College network together is trust," Moran says, "In times like these, that is priceless."

Communication Arts
Communication Arts featured CO-OP's advertising campaign for TOREN, the fastest selling real estate development in NYC, during their May 2009 online update for Exhibit.

Toren teaser campaign
Print Ads, Consumer Buying a home is never easy. And it's especially difficult when it isn't built yet. Toren, (the Dutch word for tower) is an iconic residential condo designed by well known Brooklyn architects Skidmore, Owings & Merrill. This campaign, developed by COOP (New York, NY) positions the building as "a new angle on modern living" and connects with the audience on three levels: Design. Green.
Brooklyn. The tease and launch tactic provided only a glimpse of the building to spark intrigue and anticipation; it wasn't until launch that the name, the building and its amenities were revealed.

Brokers Weekly
CO-OP partners, Jim Moran and Paul Newman, discuss the need for McMansion developers like Centex-Pulte, Toll Brothers and K. Hovanian to re-position themselves and change their product offering in changing market conditions to appeal to the budget conscious, design savvy consumer.

A new age for the McMcMansion Developers
Brokers Weekly
May 20, 2009
05/20/09
Jim Moran, Paul Newman
The recent news that Pulte Homes has acquired Centex Corp. is a bright spot for the national residential mega-developer category that includes Toll Brothers and K. Kovnanian. The two companies—Pulte and Centex—have successfully catered to different, but complementary segments of the market: Pulte to the homeowner considering trading up (what we call the "aspirational homeowner") Centex to the first-time homebuyer (these days, what we call the "hesitant homebuyer").

The issue the new company faces is this: designing and marketing homes for an audience of homebuyers who face unprecedented selection, tighter credit, uncertain job security and the market psychology that home prices could still sink further. After facing these changes, Pulte-Centex needs to re-examine buyers needs from a rational and emotional perspective to help them connect with their product while navigating through this economic minefield.

The obvious: From a rational perspective, the new Pulte-Centex company needs to offer the right mix of product at the right price, since the same predictable "insta-communities" that define new suburban wealth no longer have the same appeal for today's homebuyer. From an emotional standpoint they need to stay in tune with the buyers' shift in interest from indulgence (a dirty word in today's marketplace) to home assurance and quality – today's new emotional filters.

Offering homebuyers flexibility and modularity in design is also critical. Most homebuyers—even first-time homeowners—will be thinking about long-term ownership, since the expectation of flipping homes for a quick profit is muted. residences that Pulte-Centex designs need to accommodate significant growth and change (addition of a home office, extra room for another child, elements of sustainability) as well as quality and affordable design.

Most of the current homes sold by these kinds of developers are static—designed to blend seamlessly into the perfectly manicured neighborhoods that anchor them. There's little room for individuality let alone the design eccentricism that has made magazines like Dwell and companies like IKEA so popular with a generation of design-savvy, eco-conscious homeowners. Why? People want to buy into a personality, designer, and fashion as or trend as it connects them to a lifestyle that they want to emulate. There's a reason why so many successful national retailers now partner with celebrity designers to offer affordable design.

Pulte-Centex needs to consider pushing the boundaries of what a development community is, with greater emphasis on sometimes-disparate design for the individual homes. The company needs to let go of the notion of "flawless" insta-communities where the homes' exterior design carry a strong architectural theme, resulting in too many look-alike homes. Historic preservation and landmark issues aside, why can't a large-scale developer build an eclectic but thematic community that appeals to multiple homebuyer profiles the way some of the coolest parts of San Francisco, Los Angeles and Sydney Australia do? Character doesn't have to be compromised for construction costs and value engineering. In fact, this level of development will separate Pulte-Centex (or other developers who take this approach) from the rest of the building community. One of the biggest challenges facing the new company: building a brand that differentiates beyond what every other developer states. How many times have your gone to two developer websites and they say the same thing. If you switched the logos, would it matter? The new Pulte-Centex needs to implement a brand strategy that integrates the overall business goals + product offering + the buyers needs. This is a long-term proposition and not an instant fix. To date, most mega-developer's think executional marketing and not branding. Websites, collateral, direct mail, and advertising are all important, but if the upfront strategy is missing or lacking, I'd hate to be sitting in the developer's marketing director's chair when the results don't come in and you don't have concrete answers. Would you start your multi-million dollar development without a blueprint? So why would you begin to market and advertise without a brand plan?

The no-blueprint might have worked in the more-is-more, trading-up culture in the earlier part of this decade, but it doesn't address any of today's new realities. The stronger, no-end-in-sight market made developers and their advertising /marketing agencies jump on the sensationalism bandwagon. That "look at me" behavior created buzz but has quickly sunk with the rest of our property values. The new realities of this present market have now made those same developers and marketers rethink this approach. Successfully connecting to a new home buying audience, and keeping them as loyal customers will require a well-thought out brand strategy that lays the groundwork for fluid, tactical marketing. As a corporate entity and brand, Pulte-Centex needs to create an authentic and lasting bond with the homebuyer to nurture the trust required to capture referral and return purchase.

NY Daily News
The Daily News announced their 'Best of Brooklyn Real Estate' today and two of CO-OP's branded developments made the list. Toren was voted Best New Design and One Hanson Place was voted Best Retail Space. And who says branding doesn't matter?

NY Post
Jim Moran was quoted in the April 9 edition of the New York Post's Home Section, regarding the changing Manhattan buyer's psychology. "It's almost like when you're going into a grocery store, and it's 99 cents as opposed to a dollar...you feel like you're getting a deal," said Moran to the Post's reporter. CO-OP has been staying on top of the most dynamic homebuyer trends as the agency prepares to launch four projects later this year.

ISES Northeast Conference Talk
CO-OP partners, Jim Moran and Paul Newman, presented at the 2009 ISES Northeast Conference on "Branding, The One Thing You Can't Afford to Skip." The focus was on the importance of branding in today's economy and practical approaches in evaluating your own brand.

Atlantic Development Group Win
Atlantic Development Group awards CO-OP the branding and marketing of its 4.5 acre, 1 million square foot mixed-use development in the South Bronx. The $300 million market rate and affordable development is one of the newest developments that look to revitalize the community. Partnered with Boricua College, the development is scheduled for completion in early 2010.

Loews Hotel Launch
Loews Hotels launches CO-OP's new corporate re-branding to the public. CO-OP partnered with premier hotel and leisure group, Loews Hotels and Resorts, to create a new brand architecture and identity system that unifies the corporate brand with all North American properties. The re-brand brings to life Loews' uniquely local experience while expressing the future vision of the brand.

Brokers Weekly
CO-OP declares 2009 the "Year of the Residential Test Drive," citing unprecedented buyer options and the impact of this on the current real estate market. CO-OP's predictions - better product, longer and more strategic branding campaigns and increased sales training and education - are being realized as Manhattan's new developments court buyers.

Forest City Ratner Win
Forest City Ratner awarded CO-OP with the branding and marketing assignment for the $200 million developments of 80 DeKalb Avenue in Brooklyn. Designed by Costas Kondylis, the 365 foot LEED certified tower will launch in the fall of 2009.

Dora the Explorer Win
CO-OP was hired by Nickelodeon and Fisher Price for the naming of the new Dora the Explorer Girls tween line, a more sophisticated, young-adult extension of the multi-million dollar brand.

PKL Development Win

The Procida Companies hires CO-OP to brand their new affordable housing development company called PKL Developments LLC.

Brokers Weekly
CO-OP's "New Buyer Profile" was featured in the 11/24/08 Brokers Weekly cover story that included insights from not only co-founders Jim Moran and Paul Newman, but the city's top exclusive sales and marketing executives. The reaction to CO-OP's research and "New Buyer Profile" was significant. The consensus: today's buyer is as dynamic as the stock market, and new development marketing has to follow a whole new direction.

Brokers Weekly
Wednesday, November 26, 2008
Cover Story
Meet the new buyer on the block
By: Bill Cresenzo


Remember that Wall Street swagger that real estate marketers, brokers, and developers found so appealing? Well, it's turned into a limp.

As folks in real estate grapple with and try to be optimistic about the changes that the economy is having on the industry, developers, brokers and marketers are rethinking their strategies.

"I tend to go with my gut and my gut instinct right now is that the audience is shifting," said Richard Pandiscio, founder of Pandiscio &Co., the agency in charge of branding high-end properties such as 56 Leonard. "There are a lot of people who had been doing well for a long time and they just wanted to ‘up' their living situation. We can't rely on that now."

Jim Moran, managing partner of real estate branding company Co-Op Branding, says that the "typical profile" of a New York City condo buyer has changed over the past year, particularly since the Wall Street crisis.

Gone, at least for now, are the days of the young Wall Streeter with pocketfuls of cash, the $30,000 watch and who is ready to spend whatever it takes to land an overpriced apartment.

The high-flyers have come back down to Earth.

"We have found that there is a difference in buyer of old and the buyer of today," he said. "Before, we would talk to our clients, and they would always try to identify that Wall Street person or that hedge fund person. The buyer of old came with that ‘Master of the Universe' attitude, and I think that swagger is gone. The world of gimmicks is over. People were buying into the flash and glitz, but not anymore."

He says that two years ago, developers and brokers looked for buyers who were identified by their "chauffeured Mercedes, the labels they wore, the brands they bought and their ‘I've gotta big bonus' confidence.

Now, Moran said, the chauffeur is gone, and the bonuses have dried up.

"It's a wake up call for these guys," said Paul Newman, creative director of Co-Op. It's also a wake up call for those on the selling end of the real estate game. I tend to go with my gut and my gut instinct right now is that the audience is shifting – Richard Pandiscio Stephen Kliegerman, executive director of development at Halstead Property, said that the focus is moving away from the buyers who moved only for the sake of moving up.

"I think we are certainly seeing buyers who are more cautious, but there is no question that people still have to move," said Jacki Urgo of the Marketing Directors. "They are having children, they are getting divorced and they are relocating to a new job."

Last week, Urgo hosted a "Bankers Night" at the Visionaire, a condo building in Battery Park City. Representatives from five banks were on hand to help buyers and potential buyers with their financing. Twelve months ago, that wouldn't have happened.

"We didn't see the necessity a year ago," she said. "We are definitely looking for strategies to help them over their fears."

Newman and other trend watchers say that, most of all, today's buyers are looking for value, something that before was often missing in the equation for apartment hunters who valued luxury over practicality.

Does every room need an I-pod station? Is a pool really necessary? What about those fancy, high-end fixtures? And is a concierge service crucial for the day-to-day things that most people do themselves?

"They are a lot more realistic," said Steve Goldschmidt, senior vice president of Warburg Marketing Group. "And they are confused right now about what they can afford. They are not bringing in the same amount of confidence and their chests are not sticking out as much.

"I think there is less emphasis on high-end glamour and more emphasis on back to the basics. You will be seeing less emphasis that fast and sexy lifestyle. Nobody is in that mode right now. It's back to the basics of selling real estate for good value, in good buildings with good financials."

Rick Wohlfarth of Wohlfarth & Associates agreed. "They are not looking for a showcase or the word ‘luxury'" he said. "They are looking for reasonable amenities and reasonable financials and they want to know that the common charges aren't going to go through the roof."

Savvy brokers and developers will tap into that mentality, Moran said. "You are going to see the message in an advertising and marketing shift," he said. "We notice that, all of a sudden, the value message is coming out that wasn't there before. If you are in the uber-luxury category and can sell at that level, you are less likely to shift the message, but the majority of developers out there are going to eventually have to shift their message." Yet developers who have spent years and millions developing and cultivating a luxurious image of a high-end property may have a hard time reconciling their aspirations with reality. "Some developers are reluctant to go down that road," Pandiscio said, about emphasizing a value. "Even in a distressed market, it's not something that a luxury product necessarily wants to underscore."

The buyer of old came with that ‘Master of the Universe' attitude, and I think that swagger is gone. The word of gimmicks is over. People were buying into the flash and glitz, but not anymore – Jim Moran, Co-Op Branding

But the others do. "Right now I have one condo project-the Carriage House- and we are not promoting the amenities," said Cliff Finn, managing director of Citi Habitats. "We are promising the quality and value. That is how the project was conceived from the beginning. Because of that, we actually had two deals go through this week. There was no glitz and we are not selling glamour. It has very few amenities, actually."

Of course, luxury and practicality are not mutually exclusive.

"There are still plenty of residences that are bragworthy, but the reason residents are attracted to them have shifted," said Jasmine Mir, senior vice president of marketing at Corcoran Sunshine Marketing Group. "It's because they made the right decision and it is good investment."

And Pandiscio said the decisions that buyers and sellers make now will keep New York's housing market stable.

"The market is not dead," he said. "People are still buying. The fundamentals are the same. A lot of the work that we do now will pay off handsomely when the market does turn around. And it will turn around."

Metropolis
Toren, the award-winning residential and retail project branded by CO-OP, was featured in the October issue of design magazine Metropolis, as an example of the exciting new generation in mixed-use development.

Metropolis Magazine: The Affordable Housing Complex For decades we were told that high-density public housing didn't work. But in New York City, a new model has emerged: privately developed mixed-income projects by prominent architects that reach back into the sky.

There is a housing crisis in New York City. But it's the complete opposite of the situation in most of the country. While large parts of the United States have suffered catastrophic drops in home values, steep declines in new construction, and high foreclosure rates that have left masses of homeowners bankrupt and bled billions of dollars from banks, housing prices in New York have stayed at record levels. And even as developers persist in building the same clunky, oversize ­single-family homes with winter heating bills in the thousands of dollars—the architectural version of the SUV—the market's demands and demographics are changing. Aging baby boomers are moving from suburban palaces to condos, retirement communities, and often back to cities. Displaced workers are migrating to a handful of major metropolitan areas that are prospering as hubs of the technology, health, and service sectors. For young people and middle-class families in places like New York, Seattle, Denver, Dallas, Charlotte, and Boston—all of which gained tens of thousands of jobs in the past year and saw housing prices continue to rise—the struggle, even among those earning well above the median income, is to find an affordable place to live.

Five years ago, to compensate for nonstop demand and rising prices in New York, the city's Depart­ment of Housing Preservation and Development, or HPD, embarked on a $7.5 billion program to build 165,000 units of low-to-moderate-income housing by 2013, enough for half a million people. For the past three years, as markets everywhere went bust, New York issued record numbers of ­residential-construction permits—more than 30,000 a year, surpassing the total for the entire 1990s. And yet despite the market-rate boom and the preservation or creation of more than 80,000 affordable units in the past half decade—equivalent to building a medium-size American city in five years—the residential-vacancy rate in New York remains almost unchanged at 3 percent.

HPD's commissioner, Shaun Donovan, appointed by Mayor Bloomberg in 2004 to direct the New Housing Marketplace Plan, thinks our frame of mind hasn't quite caught up with reality. "The memory of the decline and chaos of the 1970s pervades so many things that we do in planning and real estate in New York," he says. "But what we've tried to do is look forward and plan for growth for the first time in a generation. In the affordable-housing world, we're sometimes guilty of thinking about subsidized housing in a vacuum. In a city experiencing growth like New York, along with the ‘superstar city' phenomenon that is attracting international capital and wealth, you've got to think about the housing market writ large and how to create opportunities for growth in a way that accounts for both ends of the spectrum."

Signs of the market-driven end of the boom are visible everywhere in New York: high-rise condos leaking into the sky above tenements and brownstones, cranes perilously swinging construction materials over sidewalks, plywood awnings festooned with real estate placards announcing yet another loft-style condo. Less evident is where those elusive 165,000 affordable units are being located. A handful of new projects breaking ground or opening their doors this year offer a surprising glimpse at the results midway through the city's ten-year plan to improve the quantity, quality, and sustainability of housing in New York. These projects have enormously benefited from the participation of good design firms, such as Della Valle Bernheimer, Behnisch Architekten, Polshek Part­ner­ship, FXFowle, and Grimshaw Architects, that are bringing a high level of quality to a building type largely abandoned as a lost cause. "The failure of public housing, as viewed by the public, policy makers, and Congress, has for too long frightened away architectural innovation," Donovan says. "I've tried to push that here, to help make experimentation in affordable housing acceptable again. But I strongly believe that not every building should be a work of architecture. What we aspire to is to create buildings that add to the urban fabric, and by and large our buildings do. The quality has improved to the point where there's a higher level of design, better materials, and better construction than what the market is building, particularly in low- and moderate-income neighborhoods."

The $19.5 million David and Joyce Dinkins Gardens, which opened in March on a series of donated abandoned lots in the Bradhurst area of northeast Harlem, is an 85-unit project for youths too old for foster care and families earning less than 60 percent of the median income (in the state, less than $43,302 for a four-person family). Funded by federal tax-exempt low-income-housing credits, tax-exempt bonds, HPD's mixed-income rental pro­gram, and a half-dozen other programs, it was devel­oped at a cost of $190 per square foot by the nonprofit Harlem Congregations for Com­munity Improvement with Jonathan Rose Compan­ies, a socially oriented developer.

The developers wanted to use the project to test the limits for quality and sustainability in affordable housing, so they brought in the trusty specialists at Dattner Architects, who started from their standard playbook for the type: concrete-masonry block, and plank covered with precast brick. "You know how they say in real estate there are three things that matter: location, location, location?" asks William Stein, the project architect. "In affordable housing there are three things that matter: budget, budget, budget. The projects are built on extremely tight budgets, and our approach is to design a building that is in many ways as simple and as typical as possible, but then try to tweak it in some way to make it a little more interesting."

Through its choice of materials, Energy Star–rated fixtures, and modest interventions in the building envelope, Dattner took a textbook affordable midrise and tweaked it with small aesthetic and environmental details to get a green building from what is essentially a brick box. On the facade, three colors of brick and a section of window wall—a nod to the curtain walls typical in high-rise condos—break up the building's mass and set off its entrance. The project's sustainable features, funded by a $50,000 Enterprise Green Commun­ities grant, include sunshades projecting above slightly oversize double-hung windows with insulated low-emissivity glass and trickle vents, a green roof (funded by Home Depot) composed of rows of planted plastic trays, and insulation between the concrete block and brick to reduce energy use. On the ground floor, a wing of classrooms is used to train neighborhood residents in building trades, and in the backyard a landscape design by Lee Weintraub, with custom furniture and community-gardening plots, elegantly weaves the building into the sloping site. "You try to do as much as you can with the re-sources that are available," says Whitney Foutz, the project's development manager at Rose. "The low-income-housing tax-credit program basically sets your rents, so you're not in control of what you charge. But in return you get all this money that you're able to use to build the project, and you have to work backward from that."

On the edge of Brooklyn in East New York, Della Valle Bernheimer's $2.3 million Glenmore Gar­dens, completed early last year, inserts ten modern moderate-income duplexes into a block lined with distressed rowhouses and storefronts with roll-down metal gates. One of the rare young New York firms that managed to get into the ­affordable-housing game on their own initiative, DVB responded to a 2002 RFP to develop a series of abandoned lots through HPD's New Foundations program, which encourages homeownership on in-fill sites in transitional neighborhoods. "The process is really not set up to allow people like us to get involved unless you're willing to dive into this huge process," says Erik Helgen, the project archi­tect. "HPD requires that you have drawings before you even submit for the lottery. Developer-­builders have stock plans that they've already built twenty of, but for architects to come into the process, it's a huge amount of work before you know if you're getting the lots."

Spurning the affordable-housing convention of precast-brick facades, DVB specified corrugated-aluminum, cedar, and fiber-cement panels over wood-framed structures. The firm invited three other young studios—Lewis.Tsuru­maki.Lewis, Briggs Knowles, and Architecture Research Office—to design buildings using its basic plans, letting them play within the parameters of either a slab-on-grade house or one with a ground floor sunken halfway below grade. The units, which sold for an HPD-prescribed $330,000 each—­corresponding to mortgage rates affordable to families earning 110 percent of the median income ($79,387 for a four-person household)—set a new aesthetic standard in New York for a project of their type but fell a little short of DVB's sustainability goals. "We started with a much more ambitious green-building vision that we picked away at," Helgen says. "The appliances are fairly energy efficient. You could buy more expensive windows that are way more efficient than these, but we did the best we could do with the budget. It could be better, but it's better than most of this type of housing."

The Northside Piers/Palmer's Dock development, which was designed by FXFowle and opened this summer in its first phase on a formerly industrial waterfront site in Williamsburg, Brooklyn, is an ideal case study of the two extremes that define New York's current housing market. Both parts of the development share a five-acre site between the East River and Kent Avenue, but One Northside Piers, a 180-unit, 29-story, reinforced-concrete, curtain-walled high-rise, can be sold for as much as the developers think they can get, while Palmer's Dock, a 113-unit, six-story, concrete-masonry-and-plank building with a brick facade, was built to fulfill a zoning mandate requiring that at least 20 percent of the built-up area be used for low-to-moderate-income rentals. One Northside Piers has open-plan interiors outfitted with custom cabinets, Kohler fixtures, and a combination of Thermador, Bosch, and SubZero appliances, with prices ranging from $350,000 for a studio to almost $2 million for two bedrooms with a view. At Palmer's Dock, the floor plans and fixtures are all straight out of HPD spec sheets—ready-made cabinets, Delta faucets, GE appliances—and the two-bedroom apartments rent for $1,200. Northside Piers will have an indoor pool, a hot tub and sauna, a pri­vate deck, and a restaurant; Palmer's Dock has ground-floor retail, a shared laundry, and a green roof on top of the parking garage. And yet the difference in construction costs is only about $100 per square foot—the condos were $300 per square foot, compared to about $200 for the rentals.

"The towers are a typical poured-in-place-concrete structure, but when we came to the affordable housing, because of the six-story height limit along Kent Avenue, it's more economical to use a masonry-wall-and-plank system," says David Lee, the project architect. "The windows are different, but the glass for the affordable part is the same low-emission type as the tower. We had to fight a battle with the developers because it wasn't necessary to use them—we passed the energy code—but we argued that if we don't have the low-E glass, you will see a difference. We were persistent."

Small victories aside, the contrast between the two parts of the development in terms of quality of design and materials not only marks a gap between the high and low ends of the housing market but also an abysmal void in the middle. The greater part of the public is neither poor enough to qualify for subsidized housing nor rich enough to pay what the market will bear; we just have to live on top of one another or move to areas with high crime rates and hope conditions improve. But a new development opening this fall on a block straddling slightly sketchy downtown Brooklyn and utterly bourgie Boerum Hill points to a hope­­ful possibility in the middle range of the market, and suggests that the choice between precast-brick low-rises and glass-walled condos isn't as predetermined as it seems. The 11-story high-rise, designed by Polshek, defies all expectations for affordable and supportive housing in New York. Developed by Common Ground, a nonprofit that has retrofitted several hotels and SROs for the homeless over the years, the 217-unit Schermerhorn House is the organization's first purpose-built structure, and its ambition in terms of scale, quality, and reimagination of the status quo humbles everything else out there. Its site, a donated plot of land above four functioning subway tunnels, presented some unique architectural and funding challenges but also an amazing opportunity for innovation.

"We couldn't do a block-and-plank building for this site because the weight of the building couldn't rest on the subway tunnels beneath it," says David Beer, Common Ground's director of real estate development. "The building is cantilevered over the tunnels, so we needed to use a system of four massive steel trusses supported by two rows of caissons drilled just to the south. Two factors that helped us were that the land was for free, and the city and the state make sizable investments for supportive housing with on-site services. Because it's a special facility, the zoning allows us to create a higher density than if had we just built affordable housing, and because of the compact unit sizes, the public investment on a per-unit basis is comparable to other plain affordable housing with conventional-sized units."

The building contains 9 four-bedroom suites and 180 mini studio apartments, each renting for $635 a month to individuals earning less than 60 percent of the area median income, or between $21,000 and $30,000. One hundred of the units are prioritized for members of the local community or employees in the entertainment industry (the Actor's Fund for America was one of the project's partners), 84 are reserved for people who are chronically homeless and have a history of mental illness, and 32 are left for people who are HIV-positive, or have HIV/AIDS and are at risk of homelessness. At $590 per square foot, or $59 million in total development costs, largely funded by federal low-income-housing tax credits, tax-exempt bonds, HPD's ­supportive-housing loan program, and the state's Homeless Housing Assistance program, the project was not cheap. But despite its small units, the design quality and custom-made fixtures compare favorably with a lot of loft-style condos. If anything like it could be reproduced in a market-rate development for the middle class, it could help square the circle in the history of high-rise housing—once regarded as the great hope for eradicating poverty, later rejected as inhuman in scale, and recently reclaimed by the upper classes as the urban answer to gas-guzzling McMansions.

The Schermerhorn House is just the beginning of a new wave of tricked-out affordable housing currently under construction or breaking ground in New York, including the 38-story Toren Tower, by Skidmore, Owings & Merrill, in downtown Brooklyn, and the 38-story Brooklyn Arts Tower, by Stu­dio MDA and Behnisch, in Fort Greene, both of which merge mixed-income units into a single high-rise development. In the Melrose section of the Bronx, the Via Verde project (by Grimshaw in collaboration with Dattner), which won the New Housing New York competition last year, joins 221 mixed-income units in a descending arrangement of high-rises, midrises, and townhouses with green roofs that step down into an angular courtyard. And on the Lower East Side, the Pitt Street Residence, by Kiss + Cathcart, will house 264 low-income individuals in a 12-story tower with compact studios, shared suites, and social services. More than anything, these new developments call into question the opposition to density that has pervaded urban activism for the past decade, despite a general acknowledgement of its environmental benefits. If cities are going to grab the initiative from suburbs and exploit their cultural and economic resurgence, they need to take a fresh look at how to plan large-scale development to compete with suburban houses that still cost, on average, less than $100 per square foot. "Change is hard," Donovan says. "Nobody wants density. But there's an increasing understanding that density is positive. So how do you do it in a way that isn't completely homogeneous? On the national level, with the election, energy prices, and the foreclosure crisis, there is a growing appreciation for the value of cities. The crisis of the single-family house is a crisis of the American Dream, and there has been a new questioning of that form of homeownership, which is a tragedy but also presents an enormous opportunity."

11/10/08: The financial world's "paper of record" took note of CO-OP's advertising campaign for Toren, calling the "Believe" slogan a masterclass in turning market adversity into opportunity.
Wall Street Journal
The financial world's "paper of record" took note of CO-OP's advertising campaign for Toren, calling the "Believe" slogan a masterclass in turning market adversity into opportunity. The Wall Street Journal
This Bud's for InBev. Anheuser-Busch shares have been rallying in recent days, closing up $1.11 to $65.69 on Friday, a sign that doubts may be receding about InBev's ability to close its $70 a share takeover of the iconic U.S. brewer by its year-end target. Market volatility had created jitters about the deal, sending AB stock down as low as $56.93 in late October. Word is the deal will close by the end of this month. When all else fails, there's always faith to fall back on. Toren is the name of a shiny new condo going up in Brooklyn, N.Y., due for completion early next year. Recognizing that this is not exactly the most propitious time to be selling new apartments, the advertising slogan offers a masterclass in trying to turn adversity into opportunity: "Believe. Now is the time to buy." Amen. And good luck.

Period Homes Magazine
CO-OP's branding and image work for One Hanson Place were highlighted in the November 2008 cover story of this leading residential architecture publication.
Devonshire House Win
Sterling American Properties and Chesire Group hires CO-OP to brand and market its pre-war Emery Roth icon in Greenwich Village, NY. The launch will occur in 2009.

Womens Wear Daily/ Maesa Launch
CO-OP's branding work for Maesa, t he global beauty company, launched in a WWD feature on September 12. Jim Moran and Paul Newman express how the new positioning for Maesa will reinvent the private label beauty business.

A Bid to Reinvent Private Label

Maesa - Womens Wear Daily

Friday September 12, 2008

by Faye Brookman

NEW YORK -- At a time when many U.S. retailers are importing European products to provide a point of competitive difference, a French-based company has arrived on America's shores with a turnkey private label program.

Gregory Mager, chief executive officer of Maesa in the U.S., has seen many private label programs succumb to market conditions in America, and he hopes his company and its business model will help retailers in all channels finally crack the proprietary beauty business.

To help oversee the corporate brand structure and primary brand message, Maesa linked up with New York branding agency CO-OP. Four components of the company were identified: turnkey manufacturing solutions, creative vision, complete customization and manufacturing excellence. The company's offerings are also divided into four divisions, namely beauty, home fragrances, promotions and packaging. CO-OP helped form the branding of Maesa by examining its attributes versus the competition. "We decided to convey that they are beauty engineers, where art meets science," said Paul Newman, co-founder of CO-OP. Added Jim Moran, also a co-founder, the goal was to present to clients the fact that Maesa can help proprietary lines succeed where others have faltered.

There are, of course, success models of retailers building successful private labels, such as Victoria's Secret Beauty, Target's Sonia Kashuk and Ulta's house brand. But there are also programs that have been a slow build, often a victim of retailers trying to behave too much like marketers versus merchants. For the most part, the invasion of European skin care has been slow, most cosmetics lines from Europe haven't hit full potential and some lines, such as Duane Reade's Apt. 5, have been eliminated.

But Mager sees huge potential for private label and even cites how major chains have succeeded with Boots the Chemists from the U.K. even though it has limited recognition in America. But retailers, he suggested, have to turn the process over to experts and focus on what they do best - in-store presentation and promotion. His firm expanded in the U.S. two years ago and added to its New York office with the acquisition of a home fragrance company in Los Angeles. Headquarters are in Paris with offices in London and a facility in Shanghai. The acquisition added home fragrances to the portfolio including fragrance, color cosmetics and bath and body. "We really are a turnkey operation," said Mager. Too often, retailers get mired in the marketing and conceptualization of house brands. That can be detrimental to success."

Each customer needs a different approach, he added. For example, specialty apparel chains need to change the offer frequently and treat the category like accessories. These shoppers aren't necessarily looking for something they'll come back and buy. They want a one-time unique product. To that end, his firm can handle small quantities. "We have more than 3,000 products - none are the same," he added about customization.

The cross-category function of Maesa is also key. The company can carry out a theme across everything from a beauty product to a home fragrance to a holiday gift assortment. He said the company will even work to secure an endorsement for the brand - a factor that can certainly make a hit item in today's celebrity-driven market.

Recently, Maesa has been very involved in developing organic lines. In fact, the company created a line for Lloyd's a United Kingdom drug chain called Your Organics.

Among Maesa's clients are Laura Ashley, Super Drug, Galeries Lafayette, Asda, Carrefour, Pier One, Williams-Sonoma and West Elm. Mager believes there is huge potential in the mass market, even for home centers with house brand home fragrances. "I could see a Home Depot brand," he added. "Imagine it with a famous designer as the spokesman. There's so much that can be done."

CO-OP's branding work for Maesa, the global beauty company, was profiled in a WWD feature on September 12. Jim Moran and Paul Newman express how the new positioning for Maesa will reinvent the private label beauty business.

NY Daily News
CO-OP's work for be@william, the highly successful branding of the SDSProcida development in Manhattan's financial district, was mentioned in the September 11, 2008 issue of the NY Daily News. The article describes the strategy behind the be@ brand and how be@william recorded the highest amount of sales office traffic for a six-month period of any Corcoran Sunshine Marketing Group project in 2007.

Daily News Real Estate Correspondent - September 11. 2008
be@schermerhorn is latest be@ residential building
With three up and running, one for sale, and two in the pipeline, Mario J. Procida and Louis V. Greco Jr.'s be@ product of residential buildings is New York's first multiple property building brand.

Launching sales last week for be@schermerhorn, the fourth in a series of amenity-heavy buildings priced for young professionals, parent company SDS Procida Development Group has turned the brand into a string of successes.

Three years ago, its be@clintonwest project sold out 147 units in eight days.

"It was absurd," says Procida, a lower East Sideborn developer and leader in building Bronx housing. "We were getting stacks of contracts piled 2 feet high every day. We took a chance on the neighborhood, thinking it was ready to sell. We were glad we played our hunches."

Eighteen months ago, be@william, the company's 113-unit conversion in the Financial District, recorded the highest amount of sales office traffic for a six-month period of any Corcoran Sunshine Marketing Group project in 2007.

Ranging in price from $350,000 to $1.795 million, the units at both be@ projects were scooped up by New Yorkers looking to get value for their real estate dollar in markets where they thought they were priced out.

"Our broker called us and said bring your checkbook and meet me at the corner of 47th St. and 10th Ave.," says Ginger Gilden, who was living in Bayside with her husband and infant son. "We had given up on central Manhattan. We looked in Inwood and other neighborhoods for 18 months. The broker said if we don't put money down now, we'll lose the chance to live here."

Gilden, an architect, says the combination of price and amenity drew her to the Clinton West project.

"We wanted a doorman, a place for our child to play and a gym," says Gilden who, like other buyers, bought the apartment in the construction stage. "We never thought we'd find something with all that in a good location."

The idea behind be@ brand buildings is affordability, social-based shared amenity spaces, location and solid construction. Geared toward first-time apartment buyers in a normally inflated sales environment, marketers aren't surprised at the success of the project.

"The be@ brand created its own space in the market," says Kelly Mack, CEO of Corcoran Sunshine, who marketed be@William and is currently selling the 245-unit be@schermerhorn, where units start at $350,000 for large studios. "It's affordable, stylish, contemporary, and offers quality construction. People don't want to spend money on a poorly built project. Even though priced lower, these are very well built."

All be@ projects include resident-only outdoor spaces such as rooftop on William St. and outdoor putting green at Clinton, free Wi-Fi in the common areas, gyms, quality appliances, television lounges, 24-hour doormen and spacious units usually ranging from studios to two-bedrooms. In most cases, monthly common charges are kept below $350 to $700.

Procida, who owns the construction company that builds be@, walks around his buildings with strong, sturdy steps. He horses around with construction workers, and he's quick to show someone how to do something better, such as apply caulk to a leaking pipe. Starting out as a laborer in his father's construction business, Procida likes the reach of the be@ concept of living, something he and Greco developed almost by accident.

Seven years ago, the two began their investment partnership with less than $1 million in capital. Six projects later, they have a growing portfolio of approximately $600 million in real estate, including the be@ brand's four buildings, 405 W. 53rd St., and Richard Meier's On Prospect Park, Brooklyn's most luxurious architect-driven property.

"We look for projects on the edge of central neighborhoods," says Greco, born in Queens and now living in and operating out of Brooklyn. "The neighborhoods are a little raw when we first see the land. It takes time, usually nine to 12 months, but you can tell people are coming. You see a coffee shop open up, a bank isn't too far, and transportation is close. I go there and stand on the corner to watch. When I see people walking the extra block and the energy picking up, I know we're somewhere that will grow."

After acquiring a parking lot in 2001 at 53 Boerum Place in downtown Brooklyn, Greco and Procida decided to build an inexpensive rental property for young people flocking to Brooklyn. Titled Boulevard East, the name of the property was shortened for marketing purposes to a B and an E, after which Procida and Greco added the @, using technology terminology to reach a younger market.

When the condominium market exploded in 2003, the units were put up for sale. They sold well, prompting a similar social amenity, solid construction and affordable price strategy on the 47th St. and 10th Ave. location.

When sales exploded there, the be@ brand was born. Future projects could include Carroll Gardens and Park Slope.

On a recent Friday at be@clintonwest, buyers gathered for cocktails, eats and television. Families and singles enjoy the social atmosphere. Gilden says it's a great place to raise a child, with a park along the West Side Highway and Central Park a walk or bike ride away. Single residents are ecstatic to be Manhattan apartment owners.

"I had been complaining for years about the prices of Manhattan real estate and how there was nothing of quality available for a good price," says Wendy Miller, a be@clintonwest buyer and president of the building's condominium board. "This building was built over train tracks, so I came here and listened before I bought. When I heard nothing, I knew I was good. Construction-wise, we have none of the problems of other buildings."

Procida, ever watchful of a changing market, says he hopes be@schermerhorn sells as well as the other properties, but he has contingency plans if current buyers remain passive.

"If we have to rent the apartments, we will," he says. "That's how this all got started. But with these prices, views and amenities, these should sell."

For information on be@Schermerhorn, call (718) 246-0189 or visit www.beatschermerhorn.com.

Brokers Weekly
The September 3, 2008 issue of Brokers Weekly featured important lessons in branding real estate, in an article by CO-OP's Managing Partner, Jim Moran.

Branding does more than sell units
Brokers Weekly
Wednesday, September 3, 2008
By Jim Moran, Managing Partner and Co-Founder, CO-OP

Branded real estate isn't new. The experienced developers and marketers have been doing for decades, starting first in the commercial arena with eventual trickle down into the residential market in the past 10 to 15 years. Today, branding has never been more important in a slower market exacerbated by tighter financing and a buyer with a new psychology: "I can wait, I can choose and I can buy at my price." As we enter a new period for real estate marketing, strategic branding-the kind that engages your audience immediately, supports long-term business objectives and continues to connect to prospective buyers even after they visit your sales office-is critical. Some good advice: Know the difference between marketing and branding. There are many real estate marketing firms who do little more than design and produce marketing materials-brochures and Web sites. This isn't branding, A true branding agency develops a strategic roadmap, identifies your audience and then articulates your story through multiple channels. This connection builds over time and lads to the ultimate decision to buy, or an ongoing new buyer referral based on the strength of that brand connection. You wouldn't start digging the foundation of your development without architectural plans; why would you sell your building without a branding and marketing plan? Developers need branding too. While some companies understand the importance of corporate branding, it's new territory for other developers in New York, investors want to see past the new residential tower and see the face behind the cranes-the executives and their team who running the development. In other words, banks want to know and trust whom they're lending to. Showcasing a compelling story that articulates a developer's overall vision is critical to success in new development today because buyers and investors need to trust you. CO-OP has consistently positioned its developer clients and their buildings as cohesive brand statements that connect with the target audience: BFC Partners and Toren in Brooklyn; SDS Procida and be@William in Manhattan; and The Dermot Company and One Hanson Place in Brooklyn. Don't fall for gimmicks. We've all seen the recent gimmicks associated with real estate marketing and branding: talking beaver, Jagger Pods, 24-hour beauty treatments and butlers. While it may create some "buzz," it usually dies quickly when the next "buzz" comes along. An effective brand is grounded in authenticity, immediately connects to your buyer and respects your intelligence. It balances the tangible side of what you're selling (i.e., cost, location, amenities) with the emotional drivers that create differentiation. Be real and talk to buyers with respect. Watch out for typical ad clichés. Typical ad #1: the floorplan, the rendering and the view. Typical #2: the ad with the happy couple. Both are overused branding clichés that create little differentiation. With qualified buyers today in the driver's seat, developers and their sales and marketing agencies have to push the boundaries of their comfort zone to make their properties stand out.

CNBC Worldwide Property Awards
August 2008: The CNBC Worldwide Property Awards announced that CO-OP won the "Best New Developer Website Nationwide" for BFC Partners (www.bfcnyc.com).

Brokers Weekly
Paul Newman, CO-OP's creative director, was quoted in an August 20, 2008 feature story about new development marketing strategies, citing his successful work at Toren in Brooklyn.

NY Metro
CO-OP's Jim Moran was quoted in the August 6, 2008 issue of Metro newspapers, in a feature about business centers as the hot new trend in Manhattan new residential development. Metro is the nations fastest growing print newspaper.

Wells Woodwork Win
July 2008 - Wells Woodwork, the Lousiana based cabinet company that worked with Brad Pitt's Global Green Holy Cross Project hires CO-OP to re-brand the company.

New York Observer Win
June 2008 - The New York Observer taps CO-OP to re-brand and market this September's fall real estate condo showcase at the Metropolitan Pavilion.

Globestreet.com
CO-OP's Jim Moran was quoted in the May 30, 2008 online article of Globestreet.com feature discussing how branding a development can shift the prospects of many developments in the current economic climate.

GLOBEst.com
Jim Moran on Last Weeks Poll
May 30, 2008
Can a Branding Shift help a Real Estate Firm During a Downturn?
Jim Moran on last week's poll
The greatest products in the world can collect dust if nobody is out there telling people about them. Customers can distinguish a re-branded company from all the stale competition out there. This week our voters were split almost down the middle about branding. More than 53% don't think branding can help a company in this economy, while 47% of our readers believe a new look, style and profile can boost a company past the rest. Jim Moran, the managing partner at Co-Op Branding, who has worked with some commercial as well as residential real estate firms, spoke to GlobeSt.com about how his firm polishes up companies.

"We got into real estate as we saw that so many developments were marketing themselves so generically: show a rendering or a view, give a competitive price and say 'this is branding our development.' There was an opportunity to leverage our lifestyle branding experience outside of the real estate category. We've seen so many of the big names confuse gimmicks for branding. They just don't get it. As a branding agency, we focus on real estate branding (residential, mixed use and commercial) as well as outside of the category.

"If only I had a dollar for every time a developer talks about if they should go 'green.' I believe some consumers care about this as part of their overall package of amenities. Do location and price still lead the way? Of course. But, I believe that green is more than just a cool trend. It's our future and something that most people care about. My advice is: if you're trying to ride a trend for sales, then don't waste your time. Consumers have an ability to sniff out a phony.

"I think the LEED certification standards make the green building movement a much more tangible proposition. You can't fake this. The latest building we've branded is Toren (www.torencondo.com)--a LEED Silver-certified building, soon to be LEED Gold. We utilized the responsibility aspect of our buyer as one of the three pillars in our brand positioning. It's true to the builder's vision. From what we're hearing, it's paying off.

"I believe the average American is exposed to roughly 3,000 marketing messages per day in one form or another. With all this marketing, it's no wonder that companies are looking beyond the typical marketing push that most agencies offer and trying to differentiate themselves. Having the ability to develop a unique brand positioning for both consumers brands and corporate brands and then deliver marketing touch points that resonate with an audience and get real results is what clients want. It's really simple.

"Developers/brokers are looking for 'image' in an over-image-saturated market. I think that's the problem - 'image.' Buyers can see right through this. That's why there's so much fluff out there and partly why we're dealing with a slow down. What you need is honesty about your product and a message that resonates with the buyer. People marketing any kind of development need to balance the factual points of their development with the emotional needs of the buyer. Otherwise, the buyer will see through the gimmick.

"I think the difference now is that branding wasn't a known quantity like today. The early 1990s experienced a similar slowdown. Overall, I believe this is good for the real estate industry. The last few years have seen such highs-it's like the dotcom days of the late '90s and early 2000s. This is a classic case of Darwinism at its finest. The best will survive and we're excited about this."

BFC Partners Win
May 2008 - BFC Partners and CO-OP launch Toren, the 38-story SOM designed iconic building in Downtown Brooklyn.

Maesa Win
April 2008 - French creative beauty group, Maesa, hires CO-OP to re-brand and position the company globally after one year of corporate expansion and buy-out.

Dermot Company Win
March 2008 - The Dermot Company hires CO-OP to market One Hanson Place's Clocktower Penthouse Residences.

IMAX Win
March 2008 - IMAX, the big screen giant, taps their branding agency, CO-OP, to shape corporate messaging.

Johnson & Johnson Win
February 2008 - Johnson & Johnson re-hires CO-OP for the naming of a revolutionary new beauty product.

Procida Companies Win
January 2008 - Richard Meyer partnered developer, Mario Procida, hires CO-OP to re-brand Procida Construction and Realty.

BFC Partners Win
December 2007 - New York real estate developer, BFC Partners, hires CO-OP to re-position their corporate brand.

Development Du Jour: Devonshire House
Monday, August 31, 2009
Location: 28 East 10th Street at University Place
Size: 131 units and shrinking
Prices: 7 listings so far, from an 806-square-foot 1BR/1BA for $1.05M to a 2,720-square-foot 4BR/3.5BA for $4.75M
Developer: Cheshire Group/Sterling American Property
Architects: Emery Roth (c. 1928), ARCT Architecture and Victoria Hagan (interiors) Sales & Marketing: Stribling
Lowdown: The blockbuster condo conversion of the Central Village's Devonshire House has its first big controversy. The Wilpons snapped up the pre-war rental building before Bernie made off with their money, and the market-rate renters were soon excised without much of a fuss. Even the remaining rent-stabilized tenants have been largely quiet. But the lobby! Emery Roth's crazy creation of faux wood, family crests and Corinthian columns is being seriously messed with, and that has some folks ticked off. When told the faux-wood floor was being replaced with a checkerboard, the building's previous owner told the NYT, "That could be fairly atrocious." But a tipster sent along a current shot of the lobby renovation (above), and the floor could be a lot worse, right? And besides, there's bigger Dev news to get to.

The website for the conversion has recently gone live, and there are all sorts of goodies, including model unit photos and a handful of floorplans and prices (Stribling's listings aren't online yet). Crews have been busy tearing apart and combining units for months-the Devonshire was originally all 1BRs and 2BRs- and the results show: The early examples are already winning raves on StreetEasy. As for prices, a polished pre-war gem like this would've easily commanded jawdropping prices back in the good ol' days, but now we'll classify them only as eyepopping: most units are between $1,300 to $1,600 per foot, and the one 4BR, 3.5A unit currently listed creeps all the way up to $1,746/sf (albeit on the second floor, so prices have the potential to go way higher). The renovation of the building will add a landscaped roof deck, concierge, gym, playroom, refrigerated lobby storage and a renewed focus on the interior courtyard. It's an Uptown vibe in a Downtown locale, in a city that greatly needs a success story. So how will it sell?

Curbed Inside: Old Meets New at Devonshire House
Monday, October 5, 2009
Would you look at that? A $4.1 million apartment just went into contract at the Devonshire House, the renovation and condo conversion of the Emory Roth-designed rental building at East 10th Street and University Place. It's the first sale in the building, and it just so happens to coincide with our visit to the Dev House to get a look at that controversial lobby and 4BR, 3.5BA model apartment. Why'd we scope out the model? Curiosity, mostly. There are a few interesting things at play here. While top-to-bottom pre-war renovation with hefty price tags are nothing new, this one is in the heart of the Central Village. A downtown Apthorp, if you will. The model unit is a 2,720-square-foot sprawler up on the fourth floor, combined from three apartments (most Dev House rentals were studios-2BRs). It hasn't yet been released for sale, but expect an asking price around $5 million. Handling all design duties is Victoria Hagan, a big name with the Architectural Digest set. Is the market ready to absorb this bad boy? We'll see if other sales follow, but a slightly testy StreetEasy thread does mention some packed open houses.

WHAT'S BRANDING

An Asian perspective: Ian Peaceful, CEO Capitus, Singapore


What in your opinion is a brand that pioneers innovation in Asia? Toyota's approach to business is steeped in incremental internal innovation. From Japan's first steam-powered looms to today's hybrid vehicles, Toyota's all about the constant drive to efficiency and perfection through teamwork, co-operation and innovation.

Is there a shift in demand to homegrown Asian brands such as Shanghai Tang from the more established western brands like Louis Vuitton? By positioning itself as the first Asian luxury goods brand, Shanghai Tang established a strong niche alongside other luxury brands. It remains all about the story and the product. All brands need to carry a compelling story that consumer connects with; there's no doubt that the Asian story contains a rich source of history, imagery and possibility that remain a largely untapped point of difference.

Does price play a big role in the perception of luxury in the Asian market?
Aspirational consumers expect quality products to be expensive, wherever you are in the world...

Name one Asian brand you admire and why. Singapore Airlines. The 'Singapore Girl' is a simple iconic message that's been consistently implemented over the long term, backed up with real world experiences. Perceived pan-Asian values of service and hospitality have been leveraged through strong positioning. The Singapore Girl doesn't just brand an Airline but creates a warm, welcoming halo effect for Singapore itself.

What's Branding - An interview with architect Winka Dubbeldam Q. What does the word "branding" mean in the world of architecture? A. A brand as an implied promise of a level of quality is very interesting in architecture and gets close to the idea of CONCEPT. The concept carries the essence of the building; in our case we like to think that it's essential that building become intelligent and we like to brand them as that.

Q. Do you see value in branding a development?
A. Sure, especially if it guarantees quality; and tempts the developer to strive for that quality.
Q. Do you think the likes of Gehry and Koolhaas, as brand names, are good for the industry?
A. Absolutely. They got the world interested again in the architectural dialogue and the value of good architecture.
Architecture with a big "A" has proven beneficial for city branding and for the cultural awareness of people.
Q. Name one brand you most admire and why?
A. Virgin Atlantic. They really changed the experience of flying in an amazing way.

What's Branding?
Q. Name a brand that isn't in beauty, that you'd love to create a beauty or fragrance line for (and why)?"
A. Apple! What a great project if we could partner with them to create the very first iPod fragrance, affordable and
design device. Innovation keeps us moving and we love challenges, this one would be perfect!

Q. With the recession, what's the more exciting category: mass or prestige?
A. With recession we focus on private label and retail brand to offer valuable creative product at affordable prices. It helps retailers to keep high margin and helps the consumer to get creative and innovative products they still can afford.

Q. For a medium sized company like Maesa, what's the value in branding/rebranding?
A. It is key since all our projects are design oriented. It is the starting point of every project. Design a packaging, create a brand or develop from scratch a full concept, this is how we deal with "beauty on demand".

CO-OP Blog, June 21, 2010
A new approach to real estate marketing
Traditionally residential real estate was sold and marketed via sales agents. The world of glossy brochures and websites only came along when developers had large budgets during the boom of the housing market around 2004 – 2005. In addition, there was a lot more competition which resulted in a need to differentiate.

CO-OP had not considered branding real estate, but we were handed an opportunity with developer Dermot to brand One Hanson Place – the historic Williamsburg Savings Bank clock tower in Downtown Brooklyn. We instantly recognized the building had a wealth of stories to tell and also saw how the emotive side of real estate was under utilized. It all seemed to be about price, size and location – yes all important but not very distinguishing. Our story for One Hanson Place was about owning a part of history. It was simple, authentic and effective.

Since, CO-OP has a healthy portfolio in real estate branding with residential, mixed-use projects and a determination to change the real estate buying and selling experience.

Often, when we go in to pitch new business, clients are amazed at the success we have achieved in a market that is at an all time low and full of inventory resulting in competition. So the question is – how do we do this?

We create a brand:
We can assure you that the projects CO-OP has worked on are among the select few developments in the city of New York that have a brand. Branding is what helps differentiate Project A from Project B. It allows people to see a space beyond square footage and the type of hard wood floors.

Authenticity:
We believe that every product and company has a story to tell. Our job as a branding agency is not to fabricate a story, but to dig deeper to learn the truth. We focus on asking the right questions, learning everything there is know and extract the story form all the information we collect.

Our brand ideas are inspired by simple truths.

Rational versus the Emotional:
Buying a home is a big financial decision and an equally big emotional decision. Our research indicates that when people purchase a home, they buy into a certain life and it is increasingly becoming important for people to find the right match for neighborhood and home-style. So why do real estate marketers sell their homes like off the shelf items?

At CO-OP our focus is to understand the developers financial goals and restrictions in marketing the project. We also spend extensive amounts of time studying the market. We first approach it from a rational perspective to get a better understanding of what the market has to offer at that given time.

Emotionally engaging, but rationally sound.

There is plenty of room to make the process of selling real estate and buying real estate a more engaging experience. We have been pushing the bar and challenging ourselves further on creative and strategic ways to sell real estate and are hoping that in the process, we have set a higher benchmark in the industry.

Our recent TOREN campaign, My Life at TOREN, is an example of us going outside the norm, but creating engaging materials that are going to attract the target audience and result in sales.

WHAT IF, CO-OP Blog
April 9, 2010
A Dwell Magazine Survey reported that the top two concerns when consumers make decisions today are the economy and sustainability. Based on that fact, here are some of CO-OP's thoughts. Tell us yours!
Easy Riding
What if you could use a phone app to enter the subway? Refill without waiting in line. Eliminate the paper. Smart.
In 2009 the New York City subway delivered approximately 1.5 billion rides approximately. Lets say the number of cards subway cards printed were even a fourth of the number of rides (taking into account people that buy monthly/weekly passes) that number at 375 million is significantly high number of metro cards being printed.

In the world of smart phones with m-wallets, phones are being used to transfer money and as credit cards and probably very soon as keys to your home. We think that the NYC subway system and other public transportation should consider using a paperless subway card.

One may argue that the smart card phones are predominantly in Asia and are not being used in the US. However, all cell phones have a picture display capability – the MTA can simply text message an image of the subway card with a unique barcode that can be scanned by commuters at the turnstile.

To add to the elimination of paper waste – time is money! We often hear that and in NYC we live and breathe that. With my I-Phone I can access information and news at my finger tips, I can join a live sale online at GILT, but if I forget to re-charge my subway card, I have to stand in a long line and possibly get delayed on my way to work!

It's a simple solution MTA.

Happy Feet
What if we could capture kinetic energy created by the people walking, biking and driving through NYC to power the city's public areas? Think of all the movements that you go through in a day – from walking, to running, to driving your car or your bicycle, to typing on your key board. What if we could capture the energy created by all those motions to power your home? What if we could use the energy created by people using public areas to power public areas?

Fast Fuel
What if all the McDonald's, Burger King's and Wendy's had biodiesel stations that converted the waste fat to usable car fuel? They could finally feel good about the extra calorie count. In the last few years, fast food companies have received a lot of criticism and it has been blasted all over the media. Well, if I were to head McDonalds or Burger King, I would be looking into getting wasted food fat EPA tested so people around the world can use it as biodiesel to power their cars.

Hard Wired
What if all public transportation had free WiFi access? If airplanes have it, why not local trains?
I'm a commuter and I spend about 3 hours in a train daily between the NJ Transit and the NYC subway system. There are plenty of people that do the same coming from other parts of New York, New Jersey, Connecticut and even Pennsylvania. Agreed I get a lot of reading done on the train, but I often wonder how much more I would get accomplished if I could only access the internet on my laptop (you can only do so much on your phone).

The NJ transit alone provides nearly 223 million rides a year, which equals about 610,000 rides a day. The trains could provide internet service for free or at an additional cost – which could help them generate revenue and lead to a happier rider!


Cheers to Acela trains that have recently started providing free wifi for all commuters.

Brand Innovation—Yotel
09 Apr 2010, Posted by Paul
An interview with global hotel brand, Yotel, and its London-based marketing director, Jo Berrington, by Paul Newman, Creative Partner of CO-OP. "There is beauty in simplicity" reads a fortune stuck to my monitor at work. I've always believed that some of the best ideas are driven by common sense things or occurrences that are often overlooked. Now more than ever in this multi-tasking, on-the-go, mobile fast paced world we live in, one needs to shut off for a bit and really take in what's going on around them. A lot of the best opportunities are staring us in the face. It just takes an innovative mind to notice them and create something special. We chatted with Jo Berrington, the Marketing Director of one such company – Yotel. Yotel is a different kind of hotel brand – and the brainchild of Simon Woodroffe. It all started when Simon got upgraded to a 1st class cabin on British Airways. This fortuitous experience sparked a common sense simple innovation in two of the busiest airports of the world – Heathrow and Gatwick. CO-OP: Can you tell us a little about the idea behind Yotel and how the company came into being? What is the ethos of Yotel? Jo Berrington: Simon Woodroffe started the YO! company and the first brand that came out of it was YO! Sushi – a restaurant that transformed the perception of sushi being a high end dining experience to a more accessible one. YO! was destined to be a retail brand. Simon realized that the holy grail of retail is to innovate in order to deliver high luxury without the high cost. YO! Sushi and Yotel are completely different but they are both rooted in the ethos of YO! – it's about giving a range of choices, it's about getting what you want and getting it at a relatively low cost. It's about innovating in order to deliver high luxury at affordable costs. CO-OP: So it sounds like you take deep rooted traditional notions and transform them into a more appealing user experience.

Jo Berrington: Yes, turn it on it's head really. We know that people want hotel rooms. Simon's approach has been to look at what people really want and how can we offer it in a funky, fresh, appealing way, in a way it has not been done before. Our business model is about efficeincy – how to utilizes a hotel room in a 24 hour period and which results in a much higher occupancy rate. Yotel has an 180% occupancy rate.

CO-OP: Yotel's innovative luxury cabin style experience has added another dimension to the hospitality industry. Do you think the multi-tasking general public expects/demands more of this forward thinking from other hospitality/travel/service sectors?

Jo Berrington: Yes. Today's consumer wants more value, convenience and quality than before and that is why we design taking into consideration the sensory experience.

We think of the traveller in the airport who is waiting between flights in the airport and the stress and anxiety they experience. We think of how to make it a more comfortable journey for them – from lighting, to the materials, to the amenities in each room, they are put in place to make experience of the traveller relaxing.

Our concept is straightforward – we have a democratic point of view as we deal with a wide target audience range.

CO-OP: What are the core principles of the Yotel brand?

Jo Berrington:
Innovation – it's about looking at what people want, looking at what's out there and turning it upside down to fulfill a need. It's about connecting with people.

Location: You will not find a Yotel in suburbia. You will find us in places where real estate is prime. Yotel is an urban brand for people who appreciate good design that fit there transient needs.

Value: Today's consumer is looking for value, for efficiency and responsibility – and we give that to them.

Quality: Our core is to provide luxury services and experiences and make them accessible to everyone in more affordable ways.

CO-OP: Name a brand that you admire?
Jo Berrington: Mini – they re-invented themselves but kept their authenticity.

BLOG VERSION OF NEWSLETTER ARTICLE:
CHALLENGER BRANDS:
The world's economic landscape is evolving. Corporate giants are either changing the way they work…or being edged out of business by a new breed of brands. These challengers may differ in what they sell—and the approaches they use to sell it—but one thing they have in common is that they are all led by visionaries who have sincere passions underpinned by intelligent common sense. Here are three of our favorites:

Ace Hotels:
Eclectic, unassuming, locally flavored…these are just a few words used to describe Ace Hotels, a brand that is redefining the urban-hotel experience. Ace Hotels are consciously designed for the well-traveled explorer. They are hotels for guests who enjoy cities, who are curious about the history of a place and the quirky little haunts that define a local destination. Like the men behind the brand, Ace guests are always on the lookout for something fresh and different—without sacrificing the comfortable luxury they've come to expect.

With locations in Seattle, Portland, Palm Springs and New York, Ace Hotels mark a change in the hospitality world. Alex Calderwood, Wade Weigel and Doug Herrick designed a hotel experience with their friends and acquaintances, the "creative types," in mind. The Ace team is a fascinating hybrid: romantics with an unswerving business savvy, easygoing yet professional. They weren't interested in making cooler-than-thou design statements; they wanted to make a hotel with ‘soul.' In doing so, they've tapped into exactly what a growing market of cultural influencers and opinion leaders want—a genuine experience rooted in sincere passion—and inadvertently created their own marketing machine.

John Varvatos:
John Varvatos has two driving passions: fashion and rock ‘n' roll. And while his menswear collections reflect the attention to detail inherent in old-world tailoring, they also draw inspiration from the creative spirit and edginess of his rock ‘n' roll icons, which all adds up to luxurious, comfortable clothing created to be lived in.

John Varvatos grew up in Detroit—the music melting pot of America. The electricity and personal style intrinsic to musicians like The Who, Led Zeppelin, MC5, Alice Cooper, Bog Seger, and The Stooges inspired John at an early age and influenced his eclectic sensibility. It seems only appropriate then that Varvatos was responsible for rescuing New York City's landmark CBGBs (a rock ‘n' roll mecca) from becoming a generic corporate bank and transforming it into a retail space for his sartorial brand.

If you ask his team, they'll readily admit that John Varvatos is not just the designer, he is the visionary behind the brand. He's always on the go, whether it's finding furniture for his new stores or discovering new bands, he is not afraid to get his hands dirty. And he knows more about rock than anyone possibly could.

So strong is his passion and love for the music that, if you're lucky, you may find John Varvatos performing with a band on a Thursday night at his Bowery store.

J. Crew
While over the past few years, several retail brands have been struggling to keep their doors open, the J. Crew label tells a very different story. Led by legendary CEO Mickey Drexler, this brand has tripled in stock value and continues to be one of the most popular fashion retail brands. Not only has the "J. Crew look" evolved under Drexler's visionary helm—from all-out preppy to an edgier, vintage vibe—but Drexler has ensured that the business practices have grown to reflect the changing landscape as well.

The Wall Street Journal Magazine did a great feature on Mickey Drexler, providing an intimate look into the life and mind of this Bronx lad turned merchant prince. Like many other successful visionaries, he is a man of paradoxes—driven yet open-minded. A risk-taker but shrewd.

And such is Mickey Drexler's passion for J. Crew, he personally answers emails and phone calls from shoppers, and makes routine visits to the stores—almost five a week.

CO-OP's approach to branding is unlike that of any other agency. We don't manufacture desire for our client; instead, we take the most desirable aspect and connect it with those who would appreciate it most. At CO-OP, we're not about gimmicks; we're about creating a relationship that works.

Perhaps that is why we were drawn to John Varvatos, a fashion brand proudly rooted in the designer's passion for rock ‘nʼ roll. The John Varvatos brand exudes a character as distinct and modern and quite simply, cool, as the music from which it is inspired. Which adds up to an unforgettable experience in its clothing and its stores.

We recently stopped by the John Varvatos Bowery store—which is housed in the former rock ‘n' roll landmark CBGBs—to meet with Tor Caracappa, Visual Director for Varvatos (and band member of Joker Speed Five). Tor shared some fascinating insights into John Varvatos, re-affirming CO-OP's belief that "strong brands are rooted in simple truths."

R: What brought you to John Varvatos? Was it the music?

Well, to be honest, I think it was sort of fate. Even though I had been an admirer of John's work for a while, I didn't know much about the man, I just knew his clothes. When we met he had on an old Cheap Trick T-shirt, which happens to be my favorite band. We spent the following three hours talking about music. So we just hit it off very well and we spoke a very common language, which was rock ‘n' roll—which is what the brand identity is about.

It's kind of important for the person who is head of your visual department, who is showing the world what you're all about, to really understand your language and your vocabulary. It was a natural progression for us to work together.

R: Is John Varvatos hands on? How much creative license do you get as Visual Director?

Absolutely! He loves it! It's a labor of love. He has a 25-hour day, an 8-day week and he does not sleep! But somehow, even after putting in his 25 hours a day, when I meet with him the next morning the first thing he says is, "I saw this band last night. You gotta check them out." And it's a band I've never heard of. I'm like, How do you do that, there's gotta be like three of you roaming the earth. But that's why his name is on the front of the store.

The stores are all his vision. Because I inherently understand where he's coming from, I can execute his vision. I put my own twist on it, but ultimately it's really his dream and vision.

When we're opening a new store, we sit down and he says, "All right, this is what I'm thinking." And I'll come back with ideas. Sometimes his ideas work and sometimes mine do. But the important thing is that he has a specific image of what he wants to see and how he wants it presented. He is very hands on. John does a lot of the shopping for the stores and once in a while I'm lucky enough to go along.

What you see in the stores is just an extension of John himself. This couch for instance is something he would have in his home. If he had three living rooms, this would be in one of them.

R: Where do you find these objects?

We do a lot of shopping at the flea markets in Paris. Some of it is done here in the States. The Paris flea markets are about the size of Staten Island. It's a huge, huge district in Paris. Just vendor after vendor. All this stuff. Some beautiful, some not. We're able to find very unique pieces there. That's why you see pieces in our store that you haven't seen before.

R: At CO-OP, we believe that brands should be authentic. How do you maintain brand authenticity and John Varvatosʼs brand vision?

The basis of it all is rock ‘n' roll and all that that encompasses. For us, rock ‘nʼ roll isn't just music, it's a lifestyle. It goes far beyond all the fads and trends you see out there in retail. Our clothes are more what a rock star would wear when he goes to the Grammys, or to the recording studio, or is on stage. The interiors of our stores are what a rock star's home may look like. The posters on the wall and the books in the store are indicative of different periods of rock ‘n' roll.

We don't pretend to be involved in any other sort of branding activities beyond rock ‘nʼ roll. It's not that we don't like skateboarding or other such identities, but that's not us. Rock is what John grew up with, it was always his love. He knows more about music than anyone I know—way more than me, and I know a lot about music. If John could, he would rather be a musician, but his talents lie in fashion.

R: Both the Soho store and the Bowery store are very true to their respective neighborhoods. How do you determine which store gets what feel?

This space [the Bowery store, in the former CBGB location] was going to be a Bank of America! They were going to transform it into a bank. People would never know what was here before! Luckily, John saw the space on a fluke while we were looking at other spaces in New York. The broker, knowing John was a rock fan, managed to get his hands on the keys for the old CBGB location. When we walked in, it was a mess, it was disgusting! You would never think of putting high-end menswear here. But John had a vision. He could see beyond that, he could see the potential.

The light bulb went off, and on a regular, daily, hourly basis the ideas for what we could do with this space kept spewing. We knew it would be like no other store, it would have its own identity. Let's face it; there is only one CBGB in the entire world.

We were lucky enough to re-open the doors of CBGB to the world, and that meant a responsibility to all those music fans. And even knowing that, we didn't realize the magnitude of that responsibility till we started construction and people from around the world started showing up at the site and saying, "I came all the way to see CBGB's. What is going on? Where is it?" We would bring them in and show them what we were doing. We did it because we feel we have a responsibility to the music community and the fans.

R: It shows. This space is probably one of the most exhilarating brand experiences for rock ‘n' roll fans.

It was important to us to maintain the authenticity of the space. You can still see the walls the way they were, you can still feel it. There is still a vibe here. As much as we had to change up the floor for safety reasons, we wanted to keep that vibe alive, keep those old ghosts here. That's why we do shows every month. We have a band play here every month. Sometimes on the weekends we have a stage set up, so that if a band walks in they can play anytime they want. If someone walked in right now, they could play. Where would you ever see that in a retail environment? We were just respecting the space.

We tried to keep whatever was left of the original space we could, like the walls. There's a portion of the walls that had all these old flyers on it. We wanted to maintain that, so we put it behind glass. This place was really made to be an interesting hang—you're stimulated, you're inspired, you see furniture you've never seen before and you hear music you may have never heard before. John and I pick all the music that plays in the store. It's that hands on, it's that homegrown. It's like "I just got this album. You gotta put it in the store. It's great" or "They just reissued this album. You gotta play this" or "You know what, I was in the store the other day and they were playing such and such. You should take that out. We've heard it enough."

R: This store in particular comes with so much history. It's an institution. So when you were figuring out the visuals, how did you strike the balance between wanting to maintain the elements of this particular space as well as conveying the brand? What did you want the experience to be like?

It's a retail store, but we wanted the experience to be relaxed. Men shop differently than women, and men don't really like to shop, so you need to give them an environment where they are comfortable. We wanted to create an environment where men can come in and hang out, where they don't need to buy anything. Flip through books, strum a guitar, listen to music…just hang out. If they find something, they'll buy something. And if they don't, they'll come back. You might see a band that just pops in and plays, or you might just experience the room. And you'll become a customer before you lay down any money.

We wanted our shoppers to think, "I don't want to leave this place. I can just hang out here all day. The music is good, this place is comfortable, it's stimulating. And even though I've been here a million times before I still spot new posters on the wall each time." It's an all-encompassing experience.

Caption: Let it Snow - Another Win!
Image: Image from Howdoyoumountain.com / Image of person skiing
Copy: CO-OP was awarded the re-branding of the Canyons mountain resort, the fourth largest ski resort in North America. We'll see you on the slopes. Link: howdoyoumountain.com

Caption: Welcoming our New Team Members
Image: An image each of Dennis, Connie, Yaniv
Copy: (Below each image)
Dennis Fluet (aka the Rocket!) Executive Vice President of New Business Development
Connie Francis - Account Directo
something funny about Connie
Yaniv Kanid (Digital Creative Strategist).
- something funny about Yaniv
Link: http://www.co-opbranding.com/#/11/

Caption: CO-OP the Branding Hot-shots
Image: A funny image of Jim and Paul (lets play with this) / PDF of article
Copy: Paul and Jim featured as "Branding Hotshots" in Brokers Weekly at the success of "My Life at Toren" campaign. Link: mylifeattoren.com

Caption: My Life at Toren
Image: Image of website
Copy: A new Viral campaign, "My Life at Toren," was launched to create buzz in the real estate world and push sales for Toren in Downtown Brooklyn. As the building opened its doors to residents, five Toren buyers were handed flip cameras and asked to record a slice of their lives in the building. After the launch of the campaign, sales at Toren jumped 90 percent. Link: My Life at Toren + CO-OP website casestudy

Caption: Atria Senior Living:
Image: of work
Copy: Another real-estate victory for CO-OP was the rebranding of New York City's Atria, a senior-living home on the Upper West Side. Link: Case-study

DKLB on Curbed
Curbed featured CO-OP's newly branded Forest City Ratner Rental, DKLB BKLN, and its new personality.

Inside 36 Stories of Brooklyn's New Luxury Rental Livin'
Straddling the Downtown Brooklyn/Fort Greene border and climbing 36 stories high, the 80 DeKalb Avenue luxury rental tower has been known as the new big Brooklyn thing that developer Bruce Ratner actually built. But lately it has taken on a new identity, DKLB BKLN, and this ready-to-go entry in a crowded field of new neighborhood rental towers (Avalon Fort Greene, The Brooklyner, etc.) is showing off its new personality. The DKLB BKLN website has been fully fleshed out, including a peek at some rental rates. Under "Availability," the mentioned rents for December move-ins start at $1,955 for studios, $2,255 for 1BRs and $3,400 for 2BRs. It's amenities galore at 80 De-pardon us, DKLB BKLN. A sampling: sun deck, screening room, valet parking(!), 24-hourdoorman, gym, billiards lounge, private terraces and sweet sweet washer/dryers. It's no Nets arena, but for Bruce, it'll have to do. For now!

Construction Watch: 'Forgotten Ratner' Shows Its Face
What, with Bruce Ratner's massive Atlantic Yards nearby, it's only understandable that the rising 34-story tower at 80 Dekalb Avenue on the Downtown Brooklyn/Fort Greene border became the "forgotten Ratner." But with Atlantic Yards looking as likely as a Nets playoff run, it's time for 80 Dekalb to get the attention it deserves. Forest City Ratner enlisted prolific architect Costas Kondylis for this building, which will have 292 rental apartments (20% of them "affordable"). When we last checked in, the structure was just beginning to rise. Now, via the photos above dropped in the Curbed Photo Pool, we see that the prefab panels are already being hoisted into place. If only all Brooklyn construction got on so quickly, eh Brucey boy?

Construction Watch: Ratner's Big Kondylis Rising in BK
With all the Bruce Ratner talk that swirls around Atlantic Yards, there's a forgotten Ratner. This is it. It's 80 Dekalb Aveue, just a block in from Flatbush and it will be a 34-story Costas Kondylis-designed glass number straddling the Fort Greene-Downtown Border. When all is said and done the Ratner-Kondylis tower will have 292 units, 73 of them "affordable" housing. Oh, yeah, and the devleopment got $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds.

Ratner Rising in Fort Greene
Developer Bruce Ratner's Costas Kondylis-designed, 34-story residential tower at 80 DeKalb Avenue is both underway and has gotten a boatload of financing, much of it tax free. "The glass building will join the Forte Condo (at Ashland Place and Fulton Street), and the soon-to-be-built Danspace project across the street to form a small mini-city on the edge of Fort Greene, bordering Downtown Brooklyn -- but a taste of the 16-skyscraper-and-arena Atlantic Yards complex to come." The development, which will have 292 market rate units and 73 affordable ones, has gotten $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds.

Columbia University Talk
Columbia University hosted an integrated marketing forum called 'Coordinating a Unified Brand Message.' Presenters included CO-OP's Jim Moran, Young & Rubicam's Global Managing Partner and Berlin Cameron United's President.

DKLB Launches
CO-OP launches DKLB, Brooklyn's newest rental development, for Forest City Ratner and CitiHabitat.

How Magazine
CO-OP's work for Wells Woodwork Custom Cabinetry was featured in "HOW Design Magazine's 103 Award Winning Promotion Projects."

Promotion Design Awards - How Magazine - October 2009
Title: Wells Woodwork Identity
Design Firm: CO-OP, New York City, www.co-opbranding.com
Art Director: Simrit Brar
Designer: Yukai Nishimura
Client: Wells Woodwork

Northrose Launches
Atlantic Development Group and CO-OP launch the South Bronx's latest mixed-use development at Boricua College.

Devonshire House Launches
CO-OP launches Devonshire House, Greenwich Village's newest condominium development, for Sterling American Properties, Chesire Group and Stribling.

Legacy Place Launches
CO-OP successfully launches WS Development's newest mixed-use development, Legacy Place, just outside of Boston MA.

Devonshire House NYTimes
CO-OP's latest brand launch of Devonshire House puts a new spin on Emery Roth's 1928 building.

A New Spin on Emery Roth
WHEN Devonshire House, a 1928 Emery Roth building, was sold in 2008 to a group of developers, marking the end of decades as a prime Greenwich Village rental, residents knew change was afoot.

Construction workers and machinery filled the hallways as the developers, including the real estate magnate (and partial Mets owner) Fred Wilpon, began the process of carving spacious modern condominiums out of the building's 131 modest one- and two-bedroom units. Leases for market-rate tenants were not renewed, leaving only a few dozen rent-stabilized stalwarts in place.

But of the longtime residents who managed to stay, many assumed that the Devonshire's unique aesthetic - a hodgepodge of English, Spanish and Gothic influences - would be left alone. The building, perched on the southeast corner of East 10th Street and University Place, has an eclectic Old World charm and a name-brand architect to boot: Roth, the maestro of Central Park West's Deco skyline, is considered one of Manhattan's finest residential designers. Surely, such features would still prove marketable today.

Turns out that prewar appeal has its limits. A large-scale redesign has already ripped up part of Devonshire's distinctive lobby, a time-warped salmagundi of faux-wood walls, Gothic details and an imposing coffered ceiling that brings to mind the faded Oxford common rooms of "Brideshead Revisited." Now tenants are anxious about the fate of what they consider the jewel of their meticulously designed home.

"It's such a destruction of an architectural wonder," said Susan Bolotin, 59, the editor in chief of Workman Publishing and a 30-year resident of the building. "It's a sense of aesthetic outrage. We've been told they can do whatever they want."

Longtime residents consider the lobby singular and charming, a homey but elaborate space that often impresses guests. Stained-glass windows, topped by gothic arches, allow a view of a sunny courtyard, guarded by a row of small Corinthian columns. Elevator doors are embossed with the Cavendish coat of arms, the seal of a family whose ancestral home in England shares a name with the Manhattan residence.

"For as long as I owned the building," recalled William Felder, the former proprietor, "people would come in off the street and just fawn over that lobby."

But the new owners, conscious of the real estate consumer's fickle taste, say they are looking to brighten a dingy space. "We are trying to take a tired property and freshen it up," Susan Hewitt, the project's lead developer, said in a telephone interview. "The general effect we are trying to do is make it seem slightly less sepulchral."

Ms. Hewitt, who has done condominium conversions on other properties with historic significance, does not draw her adjectives from thin air. The lobby had a sense of shabby elegance: the ornate ceiling is dulled by a tobacco-stained hue, and the yellowish faux-wood floor, a rare feature in Manhattan buildings, is scuffed and scratched.

The renovations - assigned to the designer Victoria Hagan - call for the installation of a black-and-white checkerboard floor; a lighter shade of paint for the walls and an off-white hue for the ceiling. A concierge desk is also planned.

The starkest departure from the current look is the black-and-white floor, which some tenants worry will clash with the old-English atmosphere. Ms. Hewitt said the design had "ample historical precedent" in Manhattan prewar buildings, and Ms. Hagan said she was being "very sensitive" to the original.

"That's something I think I'm good at, understanding something that's old and giving it fresh life for a new time," Ms. Hagan said recently, while overseeing construction of a new apartment on the building's fourth floor.

It would seem unthinkable to tinker with Roth's more famous works in the city, including the Beresford and San Remo apartments on the Upper West Side; both have landmark status. And wealthy buyers happily snap up 1920s co-ops on Fifth Avenue that contain the best (rock-solid walls, original moldings) and worst (ancient plumbing) qualities of prewar construction.

But the success of 15 Central Park West, Robert A. M. Stern's homage to old-school New York living, may suggest that buyers want a more modern take on the classics: prewar with postwar perks.

Meanwhile, the tenants at Devonshire remain unimpressed. A few reached out to preservationist societies in hopes of halting the renovation, to no avail. (Interior spaces can be declared landmarks in New York.)

"The lobby, as it is, is quite beautiful," said David Mann, the president of MR Architecture and Decor, who has rented a penthouse studio in the building for nearly two decades. "I am fearful about what they might do that may never be changed back. To rip out the floors, to me, is a crime."

Ms. Bolotin sounded pained when discussing the changes. "I remember moving in and learning about Emery Roth and the buildings he had done on Central Park West; there's a sense of-" she paused, then sighed - "I guess this doesn't mean much, but there's a sense of neighborhood pride. I raised my children there. We've seen generations come and go. People love living there."

The former owner, Mr. Felder, said that the Devonshire's purchasers had every right to change the lobby. "In their defense, I have to say, throughout the years, we've always had trouble maintaining that floor," he said. "You can clean it, but it just always looks dirty."

But Mr. Felder paused when told that a black-and-white checkerboard pattern was under consideration.

"That could be fairly atrocious," he said, after some contemplation. "If it was my decision and I had to replace the floor, I would replace it with some kind of stone."

This article has been revised to reflect the following correction:

Correction: September 6, 2009 _An article last Sunday about planned changes to the lobby of the Devonshire House, a 1928 building in Greenwich Village designed by Emery Roth, misstated the scope of landmark designations in New York. Interior spaces can indeed be granted landmark status.

Capitus Win
Capitus Limited, the Singapore clothing manufacturer, awards CO-OP their new fashion brand line.

WS Development Win
WS Development Inc, one of Boston's premier real estate developers, hires CO-OP to brand and market Legacy Place, the dynamic 675,000 square foot open-air retail environment. The launch is scheduled for the fall of 2009.

IMAX Branding Win
IMAX extends their 8 year relationship with CO-OP by hiring the NYC branding agency to develop new branding platforms for their expanding immersive movie experience.

Meeting Professional Internationals (MPI) Talk
MPI invited Jim Moran to speak on "Branding Your Event" at the June conference's continuing education series for the Greater NY chapter.

Connecticut College Magazine
The Connecticut College Magazine featured CO-OP partner and alumni, Jim Moran, on the importance of networking with people you trust during these economically challenging times.

How Camels Network
Two Camels gave Jim Moran '92 his first break in the marketing and communications business: Matthew Charde '87 and Fred Macdonald '87. Charde, the executive producer at an animation production company in Boston, offered Moran a job as a producer. Three years later he was a senior producer with award-winning commercials to his credit, and he headed for New York City where he's the managing partner of CO-OP, a branding agency, and still networking with other Camels.

NESCAC schools regularly offer networking events for their alumni, and "Connecticut College has far and away had the most alumni attend these events as compared to our peer institutions," Bridget McShane, director of alumni relations, says. The College also provides networking opportunities through the Alumni Online Community, events and receptions, Real World, Seminar on Success, Bridges Mentoring, and others.

"The common thread that ties my Connecticut College network together is trust," Moran says, "In times like these, that is priceless."

Communication Arts
Communication Arts featured CO-OP's advertising campaign for TOREN, the fastest selling real estate development in NYC, during their May 2009 online update for Exhibit.

Toren teaser campaign
Print Ads, Consumer Buying a home is never easy. And it's especially difficult when it isn't built yet. Toren, (the Dutch word for tower) is an iconic residential condo designed by well known Brooklyn architects Skidmore, Owings & Merrill. This campaign, developed by COOP (New York, NY) positions the building as "a new angle on modern living" and connects with the audience on three levels: Design. Green.

Brooklyn. The tease and launch tactic provided only a glimpse of the building to spark intrigue and anticipation; it wasn't until launch that the name, the building and its amenities were revealed.

Brokers Weekly
CO-OP partners, Jim Moran and Paul Newman, discuss the need for McMansion developers like Centex-Pulte, Toll Brothers and K. Hovanian to re-position themselves and change their product offering in changing market conditions to appeal to the budget conscious, design savvy consumer.

A new age for the McMcMansion Developers
Brokers Weekly
May 20, 2009
05/20/09

Jim Moran, Paul Newman

The recent news that Pulte Homes has acquired Centex Corp. is a bright spot for the national residential mega-developer category that includes Toll Brothers and K. Kovnanian.

The two companies—Pulte and Centex—have successfully catered to different, but complementary segments of the market: Pulte to the homeowner considering trading up (what we call the "aspirational homeowner") Centex to the first-time homebuyer (these days, what we call the "hesitant homebuyer").

The issue the new company faces is this: designing and marketing homes for an audience of homebuyers who face unprecedented selection, tighter credit, uncertain job security and the market psychology that home prices could still sink further. After facing these changes, Pulte-Centex needs to re-examine buyers needs from a rational and emotional perspective to help them connect with their product while navigating through this economic minefield.

The obvious: From a rational perspective, the new Pulte-Centex company needs to offer the right mix of product at the right price, since the same predictable "insta-communities" that define new suburban wealth no longer have the same appeal for today's homebuyer. From an emotional standpoint they need to stay in tune with the buyers' shift in interest from indulgence (a dirty word in today's marketplace) to home assurance and quality – today's new emotional filters.

Offering homebuyers flexibility and modularity in design is also critical. Most homebuyers—even first-time homeowners—will be thinking about long-term ownership, since the expectation of flipping homes for a quick profit is muted. residences that Pulte-Centex designs need to accommodate significant growth and change (addition of a home office, extra room for another child, elements of sustainability) as well as quality and affordable design.

Most of the current homes sold by these kinds of developers are static—designed to blend seamlessly into the perfectly manicured neighborhoods that anchor them. There's little room for individuality let alone the design eccentricism that has made magazines like Dwell and companies like IKEA so popular with a generation of design-savvy, eco-conscious homeowners. Why? People want to buy into a personality, designer, and fashion as or trend as it connects them to a lifestyle that they want to emulate. There's a reason why so many successful national retailers now partner with celebrity designers to offer affordable design.

Pulte-Centex needs to consider pushing the boundaries of what a development community is, with greater emphasis on sometimes-disparate design for the individual homes. The company needs to let go of the notion of "flawless" insta-communities where the homes' exterior design carry a strong architectural theme, resulting in too many look-alike homes. Historic preservation and landmark issues aside, why can't a large-scale developer build an eclectic but thematic community that appeals to multiple homebuyer profiles the way some of the coolest parts of San Francisco, Los Angeles and Sydney Australia do? Character doesn't have to be compromised for construction costs and value engineering. In fact, this level of development will separate Pulte-Centex (or other developers who take this approach) from the rest of the building community.

One of the biggest challenges facing the new company: building a brand that differentiates beyond what every other developer states. How many times have your gone to two developer websites and they say the same thing. If you switched the logos, would it matter? The new Pulte-Centex needs to implement a brand strategy that integrates the overall business goals + product offering + the buyers needs. This is a long-term proposition and not an instant fix. To date, most mega-developer's think executional marketing and not branding. Websites, collateral, direct mail, and advertising are all important, but if the upfront strategy is missing or lacking, I'd hate to be sitting in the developer's marketing director's chair when the results don't come in and you don't have concrete answers. Would you start your multi-million dollar development without a blueprint? So why would you begin to market and advertise without a brand plan?

The no-blueprint might have worked in the more-is-more, trading-up culture in the earlier part of this decade, but it doesn't address any of today's new realities. The stronger, no-end-in-sight market made developers and their advertising /marketing agencies jump on the sensationalism bandwagon. That "look at me" behavior created buzz but has quickly sunk with the rest of our property values. The new realities of this present market have now made those same developers and marketers rethink this approach.

Successfully connecting to a new home buying audience, and keeping them as loyal customers will require a well-thought out brand strategy that lays the groundwork for fluid, tactical marketing. As a corporate entity and brand, Pulte-Centex needs to create an authentic and lasting bond with the homebuyer to nurture the trust required to capture referral and return purchase.

NY Daily News
The Daily News announced their 'Best of Brooklyn Real Estate' today and two of CO-OP's branded developments made the list. Toren was voted Best New Design and One Hanson Place was voted Best Retail Space. And who says branding doesn't matter?

NY Post
Jim Moran was quoted in the April 9 edition of the New York Post's Home Section, regarding the changing Manhattan buyer's psychology. "It's almost like when you're going into a grocery store, and it's 99 cents as opposed to a dollar...you feel like you're getting a deal," said Moran to the Post's reporter. CO-OP has been staying on top of the most dynamic homebuyer trends as the agency prepares to launch four projects later this year.

ISES Northeast Conference Talk
CO-OP partners, Jim Moran and Paul Newman, presented at the 2009 ISES Northeast Conference on "Branding, The One Thing You Can't Afford to Skip." The focus was on the importance of branding in today's economy and practical approaches in evaluating your own brand.

Atlantic Development Group Win
Atlantic Development Group awards CO-OP the branding and marketing of its 4.5 acre, 1 million square foot mixed-use development in the South Bronx. The $300 million market rate and affordable development is one of the newest developments that look to revitalize the community. Partnered with Boricua College, the development is scheduled for completion in early 2010.

Loews Hotel Launch
Loews Hotels launches CO-OP's new corporate re-branding to the public. CO-OP partnered with premier hotel and leisure group, Loews Hotels and Resorts, to create a new brand architecture and identity system that unifies the corporate brand with all North American properties. The re-brand brings to life Loews' uniquely local experience while expressing the future vision of the brand.

Brokers Weekly
CO-OP declares 2009 the "Year of the Residential Test Drive," citing unprecedented buyer options and the impact of this on the current real estate market. CO-OP's predictions - better product, longer and more strategic branding campaigns and increased sales training and education - are being realized as Manhattan's new developments court buyers.

Forest City Ratner Win
Forest City Ratner awarded CO-OP with the branding and marketing assignment for the $200 million developments of 80 DeKalb Avenue in Brooklyn. Designed by Costas Kondylis, the 365 foot LEED certified tower will launch in the fall of 2009.

Dora the Explorer Win
CO-OP was hired by Nickelodeon and Fisher Price for the naming of the new Dora the Explorer Girls tween line, a more sophisticated, young-adult extension of the multi-million dollar brand.

PKL Development Win
The Procida Companies hires CO-OP to brand their new affordable housing development company called PKL Developments LLC.

Brokers Weekly
CO-OP's "New Buyer Profile" was featured in the 11/24/08 Brokers Weekly cover story that included insights from not only co-founders Jim Moran and Paul Newman, but the city's top exclusive sales and marketing executives. The reaction to CO-OP's research and "New Buyer Profile" was significant. The consensus: today's buyer is as dynamic as the stock market, and new development marketing has to follow a whole new direction.

Brokers Weekly
Wednesday, November 26, 2008
Cover Story
Meet the new buyer on the block
By: Bill Cresenzo
Remember that Wall Street swagger that real estate marketers, brokers, and developers found so appealing? Well, it's turned into a limp.

As folks in real estate grapple with and try to be optimistic about the changes that the economy is having on the industry, developers, brokers and marketers are rethinking their strategies.

"I tend to go with my gut and my gut instinct right now is that the audience is shifting," said Richard Pandiscio, founder of Pandiscio &Co., the agency in charge of branding high-end properties such as 56 Leonard. "There are a lot of people who had been doing well for a long time and they just wanted to ‘up' their living situation. We can't rely on that now."

Jim Moran, managing partner of real estate branding company Co-Op Branding, says that the "typical profile" of a New York City condo buyer has changed over the past year, particularly since the Wall Street crisis.

Gone, at least for now, are the days of the young Wall Streeter with pocketfuls of cash, the $30,000 watch and who is ready to spend whatever it takes to land an overpriced apartment.

The high-flyers have come back down to Earth.

"We have found that there is a difference in buyer of old and the buyer of today," he said. "Before, we would talk to our clients, and they would always try to identify that Wall Street person or that hedge fund person. The buyer of old came with that ‘Master of the Universe' attitude, and I think that swagger is gone. The world of gimmicks is over. People were buying into the flash and glitz, but not anymore."

He says that two years ago, developers and brokers looked for buyers who were identified by their "chauffeured Mercedes, the labels they wore, the brands they bought and their ‘I've gotta big bonus' confidence.

Now, Moran said, the chauffeur is gone, and the bonuses have dried up.

"It's a wake up call for these guys," said Paul Newman, creative director of Co-Op. It's also a wake up call for those on the selling end of the real estate game.

I tend to go with my gut and my gut instinct right now is that the audience is shifting – Richard Pandiscio

Stephen Kliegerman, executive director of development at Halstead Property, said that the focus is moving away from the buyers who moved only for the sake of moving up.

"I think we are certainly seeing buyers who are more cautious, but there is no question that people still have to move," said Jacki Urgo of the Marketing Directors. "They are having children, they are getting divorced and they are relocating to a new job."

Last week, Urgo hosted a "Bankers Night" at the Visionaire, a condo building in Battery Park City. Representatives from five banks were on hand to help buyers and potential buyers with their financing. Twelve months ago, that wouldn't have happened.

"We didn't see the necessity a year ago," she said. "We are definitely looking for strategies to help them over their fears."

Newman and other trend watchers say that, most of all, today's buyers are looking for value, something that before was often missing in the equation for apartment hunters who valued luxury over practicality.

Does every room need an I-pod station? Is a pool really necessary? What about those fancy, high-end fixtures? And is a concierge service crucial for the day-to-day things that most people do themselves?

"They are a lot more realistic," said Steve Goldschmidt, senior vice president of Warburg Marketing Group. "And they are confused right now about what they can afford. They are not bringing in the same amount of confidence and their chests are not sticking out as much.

"I think there is less emphasis on high-end glamour and more emphasis on back to the basics. You will be seeing less emphasis that fast and sexy lifestyle. Nobody is in that mode right now. It's back to the basics of selling real estate for good value, in good buildings with good financials."

Rick Wohlfarth of Wohlfarth & Associates agreed.

"They are not looking for a showcase or the word ‘luxury'" he said. "They are looking for reasonable amenities and reasonable financials and they want to know that the common charges aren't going to go through the roof."

Savvy brokers and developers will tap into that mentality, Moran said. "You are going to see the message in an advertising and marketing shift," he said. "We notice that, all of a sudden, the value message is coming out that wasn't there before. If you are in the uber-luxury category and can sell at that level, you are less likely to shift the message, but the majority of developers out there are going to eventually have to shift their message." Yet developers who have spent years and millions developing and cultivating a luxurious image of a high-end property may have a hard time reconciling their aspirations with reality.

"Some developers are reluctant to go down that road," Pandiscio said, about emphasizing a value. "Even in a distressed market, it's not something that a luxury product necessarily wants to underscore."

The buyer of old came with that ‘Master of the Universe' attitude, and I think that swagger is gone. The word of gimmicks is over. People were buying into the flash and glitz, but not anymore – Jim Moran, Co-Op Branding

But the others do. "Right now I have one condo project-the Carriage House- and we are not promoting the amenities," said Cliff Finn, managing director of Citi Habitats. "We are promising the quality and value. That is how the project was conceived from the beginning. Because of that, we actually had two deals go through this week. There was no glitz and we are not selling glamour. It has very few amenities, actually."

Of course, luxury and practicality are not mutually exclusive.

"There are still plenty of residences that are bragworthy, but the reason residents are attracted to them have shifted," said Jasmine Mir, senior vice president of marketing at Corcoran Sunshine Marketing Group. "It's because they made the right decision and it is good investment."

And Pandiscio said the decisions that buyers and sellers make now will keep New York's housing market stable.

"The market is not dead," he said. "People are still buying. The fundamentals are the same. A lot of the work that we do now will pay off handsomely when the market does turn around. And it will turn around."

Metropolis

Toren, the award-winning residential and retail project branded by CO-OP, was featured in the October issue of design magazine Metropolis, as an example of the exciting new generation in mixed-use development.

Metropolis Magazine: The Affordable Housing Complex

For decades we were told that high-density public housing didn't work. But in New York City, a new model has emerged: privately developed mixed-income projects by prominent architects that reach back into the sky.

There is a housing crisis in New York City. But it's the complete opposite of the situation in most of the country. While large parts of the United States have suffered catastrophic drops in home values, steep declines in new construction, and high foreclosure rates that have left masses of homeowners bankrupt and bled billions of dollars from banks, housing prices in New York have stayed at record levels. And even as developers persist in building the same clunky, oversize ?single-family homes with winter heating bills in the thousands of dollars—the architectural version of the SUV—the market's demands and demographics are changing. Aging baby boomers are moving from suburban palaces to condos, retirement communities, and often back to cities. Displaced workers are migrating to a handful of major metropolitan areas that are prospering as hubs of the technology, health, and service sectors. For young people and middle-class families in places like New York, Seattle, Denver, Dallas, Charlotte, and Boston—all of which gained tens of thousands of jobs in the past year and saw housing prices continue to rise—the struggle, even among those earning well above the median income, is to find an affordable place to live.

Five years ago, to compensate for nonstop demand and rising prices in New York, the city's Depart?ment of Housing Preservation and Development, or HPD, embarked on a $7.5 billion program to build 165,000 units of low-to-moderate-income housing by 2013, enough for half a million people. For the past three years, as markets everywhere went bust, New York issued record numbers of ?residential-construction permits—more than 30,000 a year, surpassing the total for the entire 1990s. And yet despite the market-rate boom and the preservation or creation of more than 80,000 affordable units in the past half decade—equivalent to building a medium-size American city in five years—the residential-vacancy rate in New York remains almost unchanged at 3 percent.

HPD's commissioner, Shaun Donovan, appointed by Mayor Bloomberg in 2004 to direct the New Housing Marketplace Plan, thinks our frame of mind hasn't quite caught up with reality. "The memory of the decline and chaos of the 1970s pervades so many things that we do in planning and real estate in New York," he says. "But what we've tried to do is look forward and plan for growth for the first time in a generation. In the affordable-housing world, we're sometimes guilty of thinking about subsidized housing in a vacuum. In a city experiencing growth like New York, along with the ‘superstar city' phenomenon that is attracting international capital and wealth, you've got to think about the housing market writ large and how to create opportunities for growth in a way that accounts for both ends of the spectrum."

Signs of the market-driven end of the boom are visible everywhere in New York: high-rise condos leaking into the sky above tenements and brownstones, cranes perilously swinging construction materials over sidewalks, plywood awnings festooned with real estate placards announcing yet another loft-style condo. Less evident is where those elusive 165,000 affordable units are being located. A handful of new projects breaking ground or opening their doors this year offer a surprising glimpse at the results midway through the city's ten-year plan to improve the quantity, quality, and sustainability of housing in New York. These projects have enormously benefited from the participation of good design firms, such as Della Valle Bernheimer, Behnisch Architekten, Polshek Part?ner?ship, FXFowle, and Grimshaw Architects, that are bringing a high level of quality to a building type largely abandoned as a lost cause.

"The failure of public housing, as viewed by the public, policy makers, and Congress, has for too long frightened away architectural innovation," Donovan says. "I've tried to push that here, to help make experimentation in affordable housing acceptable again. But I strongly believe that not every building should be a work of architecture. What we aspire to is to create buildings that add to the urban fabric, and by and large our buildings do. The quality has improved to the point where there's a higher level of design, better materials, and better construction than what the market is building, particularly in low- and moderate-income neighborhoods."

The $19.5 million David and Joyce Dinkins Gardens, which opened in March on a series of donated abandoned lots in the Bradhurst area of northeast Harlem, is an 85-unit project for youths too old for foster care and families earning less than 60 percent of the median income (in the state, less than $43,302 for a four-person family). Funded by federal tax-exempt low-income-housing credits, tax-exempt bonds, HPD's mixed-income rental pro?gram, and a half-dozen other programs, it was devel?oped at a cost of $190 per square foot by the nonprofit Harlem Congregations for Com?munity Improvement with Jonathan Rose Compan?ies, a socially oriented developer.

The developers wanted to use the project to test the limits for quality and sustainability in affordable housing, so they brought in the trusty specialists at Dattner Architects, who started from their standard playbook for the type: concrete-masonry block, and plank covered with precast brick. "You know how they say in real estate there are three things that matter: location, location, location?" asks William Stein, the project architect. "In affordable housing there are three things that matter: budget, budget, budget. The projects are built on extremely tight budgets, and our approach is to design a building that is in many ways as simple and as typical as possible, but then try to tweak it in some way to make it a little more interesting."

Through its choice of materials, Energy Star–rated fixtures, and modest interventions in the building envelope, Dattner took a textbook affordable midrise and tweaked it with small aesthetic and environmental details to get a green building from what is essentially a brick box. On the facade, three colors of brick and a section of window wall—a nod to the curtain walls typical in high-rise condos—break up the building's mass and set off its entrance. The project's sustainable features, funded by a $50,000 Enterprise Green Commun?ities grant, include sunshades projecting above slightly oversize double-hung windows with insulated low-emissivity glass and trickle vents, a green roof (funded by Home Depot) composed of rows of planted plastic trays, and insulation between the concrete block and brick to reduce energy use. On the ground floor, a wing of classrooms is used to train neighborhood residents in building trades, and in the backyard a landscape design by Lee Weintraub, with custom furniture and community-gardening plots, elegantly weaves the building into the sloping site.

"You try to do as much as you can with the re-sources that are available," says Whitney Foutz, the project's development manager at Rose. "The low-income-housing tax-credit program basically sets your rents, so you're not in control of what you charge. But in return you get all this money that you're able to use to build the project, and you have to work backward from that."

On the edge of Brooklyn in East New York, Della Valle Bernheimer's $2.3 million Glenmore Gar?dens, completed early last year, inserts ten modern moderate-income duplexes into a block lined with distressed rowhouses and storefronts with roll-down metal gates. One of the rare young New York firms that managed to get into the ?affordable-housing game on their own initiative, DVB responded to a 2002 RFP to develop a series of abandoned lots through HPD's New Foundations program, which encourages homeownership on in-fill sites in transitional neighborhoods. "The process is really not set up to allow people like us to get involved unless you're willing to dive into this huge process," says Erik Helgen, the project archi?tect. "HPD requires that you have drawings before you even submit for the lottery. Developer-?builders have stock plans that they've already built twenty of, but for architects to come into the process, it's a huge amount of work before you know if you're getting the lots."

Spurning the affordable-housing convention of precast-brick facades, DVB specified corrugated-aluminum, cedar, and fiber-cement panels over wood-framed structures. The firm invited three other young studios—Lewis.Tsuru?maki.Lewis, Briggs Knowles, and Architecture Research Office—to design buildings using its basic plans, letting them play within the parameters of either a slab-on-grade house or one with a ground floor sunken halfway below grade. The units, which sold for an HPD-prescribed $330,000 each—?corresponding to mortgage rates affordable to families earning 110 percent of the median income ($79,387 for a four-person household)—set a new aesthetic standard in New York for a project of their type but fell a little short of DVB's sustainability goals. "We started with a much more ambitious green-building vision that we picked away at," Helgen says. "The appliances are fairly energy efficient. You could buy more expensive windows that are way more efficient than these, but we did the best we could do with the budget. It could be better, but it's better than most of this type of housing."

The Northside Piers/Palmer's Dock development, which was designed by FXFowle and opened this summer in its first phase on a formerly industrial waterfront site in Williamsburg, Brooklyn, is an ideal case study of the two extremes that define New York's current housing market. Both parts of the development share a five-acre site between the East River and Kent Avenue, but One Northside Piers, a 180-unit, 29-story, reinforced-concrete, curtain-walled high-rise, can be sold for as much as the developers think they can get, while Palmer's Dock, a 113-unit, six-story, concrete-masonry-and-plank building with a brick facade, was built to fulfill a zoning mandate requiring that at least 20 percent of the built-up area be used for low-to-moderate-income rentals. One Northside Piers has open-plan interiors outfitted with custom cabinets, Kohler fixtures, and a combination of Thermador, Bosch, and SubZero appliances, with prices ranging from $350,000 for a studio to almost $2 million for two bedrooms with a view. At Palmer's Dock, the floor plans and fixtures are all straight out of HPD spec sheets—ready-made cabinets, Delta faucets, GE appliances—and the two-bedroom apartments rent for $1,200. Northside Piers will have an indoor pool, a hot tub and sauna, a pri?vate deck, and a restaurant; Palmer's Dock has ground-floor retail, a shared laundry, and a green roof on top of the parking garage. And yet the difference in construction costs is only about $100 per square foot—the condos were $300 per square foot, compared to about $200 for the rentals.

"The towers are a typical poured-in-place-concrete structure, but when we came to the affordable housing, because of the six-story height limit along Kent Avenue, it's more economical to use a masonry-wall-and-plank system," says David Lee, the project architect. "The windows are different, but the glass for the affordable part is the same low-emission type as the tower. We had to fight a battle with the developers because it wasn't necessary to use them—we passed the energy code—but we argued that if we don't have the low-E glass, you will see a difference. We were persistent."

Small victories aside, the contrast between the two parts of the development in terms of quality of design and materials not only marks a gap between the high and low ends of the housing market but also an abysmal void in the middle. The greater part of the public is neither poor enough to qualify for subsidized housing nor rich enough to pay what the market will bear; we just have to live on top of one another or move to areas with high crime rates and hope conditions improve.

But a new development opening this fall on a block straddling slightly sketchy downtown Brooklyn and utterly bourgie Boerum Hill points to a hope??ful possibility in the middle range of the market, and suggests that the choice between precast-brick low-rises and glass-walled condos isn't as predetermined as it seems. The 11-story high-rise, designed by Polshek, defies all expectations for affordable and supportive housing in New York. Developed by Common Ground, a nonprofit that has retrofitted several hotels and SROs for the homeless over the years, the 217-unit Schermerhorn House is the organization's first purpose-built structure, and its ambition in terms of scale, quality, and reimagination of the status quo humbles everything else out there. Its site, a donated plot of land above four functioning subway tunnels, presented some unique architectural and funding challenges but also an amazing opportunity for innovation.

"We couldn't do a block-and-plank building for this site because the weight of the building couldn't rest on the subway tunnels beneath it," says David Beer, Common Ground's director of real estate development. "The building is cantilevered over the tunnels, so we needed to use a system of four massive steel trusses supported by two rows of caissons drilled just to the south. Two factors that helped us were that the land was for free, and the city and the state make sizable investments for supportive housing with on-site services. Because it's a special facility, the zoning allows us to create a higher density than if had we just built affordable housing, and because of the compact unit sizes, the public investment on a per-unit basis is comparable to other plain affordable housing with conventional-sized units."

The building contains 9 four-bedroom suites and 180 mini studio apartments, each renting for $635 a month to individuals earning less than 60 percent of the area median income, or between $21,000 and $30,000. One hundred of the units are prioritized for members of the local community or employees in the entertainment industry (the Actor's Fund for America was one of the project's partners), 84 are reserved for people who are chronically homeless and have a history of mental illness, and 32 are left for people who are HIV-positive, or have HIV/AIDS and are at risk of homelessness. At $590 per square foot, or $59 million in total development costs, largely funded by federal low-income-housing tax credits, tax-exempt bonds, HPD's ?supportive-housing loan program, and the state's Homeless Housing Assistance program, the project was not cheap. But despite its small units, the design quality and custom-made fixtures compare favorably with a lot of loft-style condos. If anything like it could be reproduced in a market-rate development for the middle class, it could help square the circle in the history of high-rise housing—once regarded as the great hope for eradicating poverty, later rejected as inhuman in scale, and recently reclaimed by the upper classes as the urban answer to gas-guzzling McMansions.

The Schermerhorn House is just the beginning of a new wave of tricked-out affordable housing currently under construction or breaking ground in New York, including the 38-story Toren Tower, by Skidmore, Owings & Merrill, in downtown Brooklyn, and the 38-story Brooklyn Arts Tower, by Stu?dio MDA and Behnisch, in Fort Greene, both of which merge mixed-income units into a single high-rise development. In the Melrose section of the Bronx, the Via Verde project (by Grimshaw in collaboration with Dattner), which won the New Housing New York competition last year, joins 221 mixed-income units in a descending arrangement of high-rises, midrises, and townhouses with green roofs that step down into an angular courtyard. And on the Lower East Side, the Pitt Street Residence, by Kiss + Cathcart, will house 264 low-income individuals in a 12-story tower with compact studios, shared suites, and social services.

More than anything, these new developments call into question the opposition to density that has pervaded urban activism for the past decade, despite a general acknowledgement of its environmental benefits. If cities are going to grab the initiative from suburbs and exploit their cultural and economic resurgence, they need to take a fresh look at how to plan large-scale development to compete with suburban houses that still cost, on average, less than $100 per square foot. "Change is hard," Donovan says. "Nobody wants density. But there's an increasing understanding that density is positive. So how do you do it in a way that isn't completely homogeneous? On the national level, with the election, energy prices, and the foreclosure crisis, there is a growing appreciation for the value of cities. The crisis of the single-family house is a crisis of the American Dream, and there has been a new questioning of that form of homeownership, which is a tragedy but also presents an enormous opportunity."

Wall Street Journal

The financial world's "paper of record" took note of CO-OP's advertising campaign for Toren, calling the "Believe" slogan a masterclass in turning market adversity into opportunity.

The Wall Street Journal

This Bud's for InBev. Anheuser-Busch shares have been rallying in recent days, closing up $1.11 to $65.69 on Friday, a sign that doubts may be receding about InBev's ability to close its $70 a share takeover of the iconic U.S. brewer by its year-end target. Market volatility had created jitters about the deal, sending AB stock down as low as $56.93 in late October. Word is the deal will close by the end of this month. When all else fails, there's always faith to fall back on. Toren is the name of a shiny new condo going up in Brooklyn, N.Y., due for completion early next year. Recognizing that this is not exactly the most propitious time to be selling new apartments, the advertising slogan offers a masterclass in trying to turn adversity into opportunity: "Believe. Now is the time to buy." Amen. And good luck.

Period Homes Magazine

CO-OP's branding and image work for One Hanson Place were highlighted in the November 2008 cover story of this leading residential architecture publication.

Devonshire House Win

Sterling American Properties and Chesire Group hires CO-OP to brand and market its pre-war Emery Roth icon in Greenwich Village, NY. The launch will occur in 2009.

Womens Wear Daily/ Maesa Launch

CO-OP's branding work for Maesa, t he global beauty company, launched in a WWD feature on September 12. Jim Moran and Paul Newman express how the new positioning for Maesa will reinvent the private label beauty business.

A Bid to Reinvent Private Label

Maesa - Womens Wear Daily

Friday September 12, 2008

by Faye Brookman

NEW YORK -- At a time when many U.S. retailers are importing European products to provide a point of competitive difference, a French-based company has arrived on America's shores with a turnkey private label program.

Gregory Mager, chief executive officer of Maesa in the U.S., has seen many private label programs succumb to market conditions in America, and he hopes his company and its business model will help retailers in all channels finally crack the proprietary beauty business.

To help oversee the corporate brand structure and primary brand message, Maesa linked up with New York branding agency CO-OP. Four components of the company were identified: turnkey manufacturing solutions, creative vision, complete customization and manufacturing excellence. The company's offerings are also divided into four divisions, namely beauty, home fragrances, promotions and packaging. CO-OP helped form the branding of Maesa by examining its attributes versus the competition. "We decided to convey that they are beauty engineers, where art meets science," said Paul Newman, co-founder of CO-OP. Added Jim Moran, also a co-founder, the goal was to present to clients the fact that Maesa can help proprietary lines succeed where others have faltered.

There are, of course, success models of retailers building successful private labels, such as Victoria's Secret Beauty, Target's Sonia Kashuk and Ulta's house brand. But there are also programs that have been a slow build, often a victim of retailers trying to behave too much like marketers versus merchants. For the most part, the invasion of European skin care has been slow, most cosmetics lines from Europe haven't hit full potential and some lines, such as Duane Reade's Apt. 5, have been eliminated.

But Mager sees huge potential for private label and even cites how major chains have succeeded with Boots the Chemists from the U.K. even though it has limited recognition in America. But retailers, he suggested, have to turn the process over to experts and focus on what they do best - in-store presentation and promotion.

His firm expanded in the U.S. two years ago and added to its New York office with the acquisition of a home fragrance company in Los Angeles. Headquarters are in Paris with offices in London and a facility in Shanghai. The acquisition added home fragrances to the portfolio including fragrance, color cosmetics and bath and body. "We really are a turnkey operation," said Mager. Too often, retailers get mired in the marketing and conceptualization of house brands. That can be detrimental to success."

Each customer needs a different approach, he added. For example, specialty apparel chains need to change the offer frequently and treat the category like accessories. These shoppers aren't necessarily looking for something they'll come back and buy. They want a one-time unique product. To that end, his firm can handle small quantities. "We have more than 3,000 products - none are the same," he added about customization.

The cross-category function of Maesa is also key. The company can carry out a theme across everything from a beauty product to a home fragrance to a holiday gift assortment. He said the company will even work to secure an endorsement for the brand - a factor that can certainly make a hit item in today's celebrity-driven market.

Recently, Maesa has been very involved in developing organic lines. In fact, the company created a line for Lloyd's a United Kingdom drug chain called Your Organics.

Among Maesa's clients are Laura Ashley, Super Drug, Galeries Lafayette, Asda, Carrefour, Pier One, Williams-Sonoma and West Elm. Mager believes there is huge potential in the mass market, even for home centers with house brand home fragrances. "I could see a Home Depot brand," he added. "Imagine it with a famous designer as the spokesman. There's so much that can be done."

CO-OP's branding work for Maesa, the global beauty company, was profiled in a WWD feature on September 12. Jim Moran and Paul Newman express how the new positioning for Maesa will reinvent the private label beauty business.

NY Daily News

CO-OP's work for be@william, the highly successful branding of the SDSProcida development in Manhattan's financial district, was mentioned in the September 11, 2008 issue of the NY Daily News. The article describes the strategy behind the be@ brand and how be@william recorded the highest amount of sales office traffic for a six-month period of any Corcoran Sunshine Marketing Group project in 2007.

Daily News Real Estate Correspondent - September 11. 2008

be@schermerhorn is latest be@ residential building

With three up and running, one for sale, and two in the pipeline, Mario J. Procida and Louis V. Greco Jr.'s be@ product of residential buildings is New York's first multiple property building brand.

Launching sales last week for be@schermerhorn, the fourth in a series of amenity-heavy buildings priced for young professionals, parent company SDS Procida Development Group has turned the

brand into a string of successes.

Three years ago, its be@clintonwest project sold out 147 units in eight days.

"It was absurd," says Procida, a lower East Sideborn developer and leader in building Bronx housing. "We were getting stacks of contracts piled 2 feet high every day. We took a chance on the neighborhood, thinking it was ready to sell. We were glad we played our hunches."

Eighteen months ago, be@william, the company's 113-unit conversion in the Financial District, recorded the highest amount of sales office traffic for a six-month period of any Corcoran Sunshine Marketing Group project in 2007.

Ranging in price from $350,000 to $1.795 million, the units at both be@ projects were scooped up by New Yorkers looking to get value for their real estate dollar in markets where they thought they were priced out.

"Our broker called us and said bring your checkbook and meet me at the corner of 47th St. and 10th Ave.," says Ginger Gilden, who was living in Bayside with her husband and infant son. "We had given up on central Manhattan. We looked in Inwood and other neighborhoods for 18 months. The broker said if we don't put money down now, we'll lose the chance to live here."

Gilden, an architect, says the combination of price and amenity drew her to the Clinton West project.

"We wanted a doorman, a place for our child to play and a gym," says Gilden who, like other buyers, bought the apartment in the construction stage. "We never thought we'd find something with all that in a good location."

The idea behind be@ brand buildings is affordability, social-based shared amenity spaces, location and solid construction. Geared toward first-time apartment buyers in a normally inflated sales environment, marketers aren't surprised at the success of the project.

"The be@ brand created its own space in the market," says Kelly Mack, CEO of Corcoran Sunshine, who marketed be@William and is currently selling the 245-unit be@schermerhorn, where units start at $350,000 for large studios. "It's affordable, stylish, contemporary, and offers quality construction. People don't want to spend money on a poorly built project. Even though priced lower, these are very well built."

All be@ projects include resident-only outdoor spaces such as rooftop on William St. and outdoor putting green at Clinton, free Wi-Fi in the common areas, gyms, quality appliances, television lounges, 24-hour doormen and spacious units usually ranging from studios to two-bedrooms. In most cases, monthly common charges are kept below $350 to $700.

Procida, who owns the construction company that builds be@, walks around his buildings with strong, sturdy steps. He horses around with construction workers, and he's quick to show someone how to do something better, such as apply caulk to a leaking pipe. Starting out as a laborer in his father's construction business, Procida likes the reach of the be@ concept of living, something he and Greco developed almost by accident.

Seven years ago, the two began their investment

partnership with less than $1 million in capital.

Six projects later, they have a growing portfolio of

approximately $600 million in real estate, including

the be@ brand's four buildings, 405 W. 53rd St.,

and Richard Meier's On Prospect Park, Brooklyn's

most luxurious architect-driven property.

"We look for projects on the edge of central neighborhoods,"

says Greco, born in Queens and now

living in and operating out of Brooklyn. "The neighborhoods

are a little raw when we first see the land.

It takes time, usually nine to 12 months, but you can

tell people are coming. You see a coffee shop open

up, a bank isn't too far, and transportation is close.

I go there and stand on the corner to watch. When

I see people walking the extra block and the energy

picking up, I know we're somewhere that will grow."

After acquiring a parking lot in 2001 at 53 Boerum

Place in downtown Brooklyn, Greco and Procida

decided to build an inexpensive rental property for

young people flocking to Brooklyn. Titled Boulevard

East, the name of the property was shortened for

marketing purposes to a B and an E, after which

Procida and Greco added the @, using technology

terminology to reach a younger market.

When the condominium market exploded in 2003,

the units were put up for sale. They sold well,

prompting a similar social amenity, solid construction

and affordable price strategy on the 47th St.

and 10th Ave. location.

When sales exploded there, the be@ brand was

born. Future projects could include Carroll Gardens

and Park Slope.

On a recent Friday at be@clintonwest, buyers gathered

for cocktails, eats and television. Families and

singles enjoy the social atmosphere. Gilden says

it's a great place to raise a child, with a park along

the West Side Highway and Central Park a walk or

bike ride away. Single residents are ecstatic to be

Manhattan apartment owners.

"I had been complaining for years about the prices of Manhattan real estate and how there was nothing of quality available for a good price," says Wendy Miller, a be@clintonwest buyer and president of the building's condominium board. "This building was built over train tracks, so I came here and listened before I bought. When I heard nothing, I knew I was good. Construction-wise, we have none of the problems of other buildings."



Procida, ever watchful of a changing market, says he hopes be@schermerhorn sells as well as the other properties, but he has contingency plans if current buyers remain passive.



"If we have to rent the apartments, we will," he says. "That's how this all got started. But with these prices, views and amenities, these should sell."



For information on be@Schermerhorn, call (718) 246-0189 or visit www.beatschermerhorn.com.



Brokers Weekly

The September 3, 2008 issue of Brokers Weekly featured important lessons in branding real estate, in an article by CO-OP's Managing Partner, Jim Moran.

Branding does more than sell units

Brokers Weekly
Wednesday, September 3, 2008
By Jim Moran, Managing Partner and Co-Founder, CO-OP


Branded real estate isn't new. The experienced developers and marketers have been doing for decades, starting first in the commercial arena with eventual trickle down into the residential market in the past 10 to 15 years.

Today, branding has never been more important in a slower market exacerbated by tighter financing and a buyer with a new psychology: "I can wait, I can choose and I can buy at my price."

As we enter a new period for real estate marketing, strategic branding-the kind that engages your audience immediately, supports long-term business objectives and continues to connect to prospective buyers even after they visit your sales office-is critical.

Some good advice:

Know the difference between marketing and branding. There are many real estate marketing firms who do little more than design and produce marketing materials-brochures and Web sites. This isn't branding, A true branding agency develops a strategic roadmap, identifies your audience and then articulates your story through multiple channels. This connection builds over time and lads to the ultimate decision to buy, or an ongoing new buyer referral based on the strength of that brand connection. You wouldn't start digging the foundation of your development without architectural plans; why would you sell your building without a branding and marketing plan?

Developers need branding too. While some companies understand the importance of corporate branding, it's new territory for other developers in New York, investors want to see past the new residential tower and see the face behind the cranes-the executives and their team who running the development. In other words, banks want to know and trust whom they're lending to. Showcasing a compelling story that articulates a developer's overall vision is critical to success in new development today because buyers and investors need to trust you. CO-OP has consistently positioned its developer clients and their buildings as cohesive brand statements that connect with the target audience: BFC Partners and Toren in Brooklyn; SDS Procida and be@William in Manhattan; and The Dermot Company and One Hanson Place in Brooklyn.

Don't fall for gimmicks. We've all seen the recent gimmicks associated with real estate marketing and branding: talking beaver, Jagger Pods, 24-hour beauty treatments and butlers. While it may create some "buzz," it usually dies quickly when the next "buzz" comes along. An effective brand is grounded in authenticity, immediately connects to your buyer and respects your intelligence. It balances the tangible side of what you're selling (i.e., cost, location, amenities) with the emotional drivers that create differentiation. Be real and talk to buyers with respect.

Watch out for typical ad clichés. Typical ad #1: the floorplan, the rendering and the view. Typical #2: the ad with the happy couple. Both are overused branding clichés that create little differentiation. With qualified buyers today in the driver's seat, developers and their sales and marketing agencies have to push the boundaries of their comfort zone to make their properties stand out.

CNBC Worldwide Property Awards

August 2008: The CNBC Worldwide Property Awards announced that CO-OP won the "Best New Developer Website Nationwide" for BFC Partners (www.bfcnyc.com).

Brokers Weekly

Paul Newman, CO-OP's creative director, was quoted in an August 20, 2008 feature story about new development marketing strategies, citing his successful work at Toren in Brooklyn.

NY Metro

CO-OP's Jim Moran was quoted in the August 6, 2008 issue of Metro newspapers, in a feature about business centers as the hot new trend in Manhattan new residential development. Metro is the nations fastest growing print newspaper.

Wells Woodwork Win

July 2008 - Wells Woodwork, the Lousiana based cabinet company that worked with Brad Pitt's Global Green Holy Cross Project hires CO-OP to re-brand the company.

New York Observer Win

June 2008 - The New York Observer taps CO-OP to re-brand and market this September's fall real estate condo showcase at the Metropolitan Pavilion.

Globestreet.com

CO-OP's Jim Moran was quoted in the May 30, 2008 online article of Globestreet.com feature discussing how branding a development can shift the prospects of many developments in the current economic climate.

GLOBEst.com

Jim Moran on Last Weeks Poll

May 30, 2008

Can a Branding Shift help a Real Estate Firm During a Downturn?

Jim Moran on last week's poll The greatest products in the world can collect dust if nobody is out there telling people about them. Customers can distinguish a re-branded company from all the stale competition out there. This week our voters were split almost down the middle about branding. More than 53% don't think branding can help a company in this economy, while 47% of our readers believe a new look, style and profile can boost a company past the rest. Jim Moran, the managing partner at Co-Op Branding, who has worked with some commercial as well as residential real estate firms, spoke to GlobeSt.com about how his firm polishes up companies.

"We got into real estate as we saw that so many developments were marketing themselves so generically: show a rendering or a view, give a competitive price and say 'this is branding our development.' There was an opportunity to leverage our lifestyle branding experience outside of the real estate category. We've seen so many of the big names confuse gimmicks for branding. They just don't get it. As a branding agency, we focus on real estate branding (residential, mixed use and commercial) as well as outside of the category.

"If only I had a dollar for every time a developer talks about if they should go 'green.' I believe some consumers care about this as part of their overall package of amenities. Do location and price still lead the way? Of course. But, I believe that green is more than just a cool trend. It's our future and something that most people care about. My advice is: if you're trying to ride a trend for sales, then don't waste your time. Consumers have an ability to sniff out a phony.

"I think the LEED certification standards make the green building movement a much more tangible proposition. You can't fake this. The latest building we've branded is Toren (www.torencondo.com)--a LEED Silver-certified building, soon to be LEED Gold. We utilized the responsibility aspect of our buyer as one of the three pillars in our brand positioning. It's true to the builder's vision. From what we're hearing, it's paying off.

"I believe the average American is exposed to roughly 3,000 marketing messages per day in one form or another. With all this marketing, it's no wonder that companies are looking beyond the typical marketing push that most agencies offer and trying to differentiate themselves. Having the ability to develop a unique brand positioning for both consumers brands and corporate brands and then deliver marketing touch points that resonate with an audience and get real results is what clients want. It's really simple.

"Developers/brokers are looking for 'image' in an over-image-saturated market. I think that's the problem - 'image.' Buyers can see right through this. That's why there's so much fluff out there and partly why we're dealing with a slow down. What you need is honesty about your product and a message that resonates with the buyer. People marketing any kind of development need to balance the factual points of their development with the emotional needs of the buyer. Otherwise, the buyer will see through the gimmick.

"I think the difference now is that branding wasn't a known quantity like today. The early 1990s experienced a similar slowdown. Overall, I believe this is good for the real estate industry. The last few years have seen such highs-it's like the dotcom days of the late '90s and early 2000s. This is a classic case of Darwinism at its finest. The best will survive and we're excited about this."

BFC Partners Win

May 2008 - BFC Partners and CO-OP launch Toren, the 38-story SOM designed iconic building in Downtown Brooklyn.

Maesa Win

April 2008 - French creative beauty group, Maesa, hires CO-OP to re-brand and position the company globally after one year of corporate expansion and buy-out.

Dermot Company Win

March 2008 - The Dermot Company hires CO-OP to market One Hanson Place's Clocktower Penthouse Residences.

IMAX Win

March 2008 - IMAX, the big screen giant, taps their branding agency, CO-OP, to shape corporate messaging.

Johnson & Johnson Win

February 2008 - Johnson & Johnson re-hires CO-OP for the naming of a revolutionary new beauty product.

Procida Companies Win

January 2008 - Richard Meyer partnered developer, Mario Procida, hires CO-OP to re-brand Procida Construction and Realty.

BFC Partners Win

December 2007 - New York real estate developer, BFC Partners, hires CO-OP to re-position their corporate brand.

Development Du Jour: Devonshire House

Monday, August 31, 2009

Location: 28 East 10th Street at University Place

Size: 131 units and shrinking

Prices: 7 listings so far, from an 806-square-foot 1BR/1BA for $1.05M to a

2,720-square-foot 4BR/3.5BA for $4.75M

Developer: Cheshire Group/Sterling American Property

Architects: Emery Roth (c. 1928), ARCT Architecture and Victoria Hagan (interiors)

Sales & Marketing: Stribling Lowdown: The blockbuster condo conversion of the Central Village's Devonshire House has its first big controversy. The Wilpons snapped up the pre-war rental building before Bernie made off with their money, and the market-rate renters were soon excised without much of a fuss. Even the remaining rent-stabilized tenants have been largely quiet. But the lobby! Emery Roth's crazy creation of faux wood, family crests and Corinthian columns is being seriously messed with, and that has some folks ticked off. When told the faux-wood floor was being replaced with a checkerboard, the building's previous owner told the NYT, "That could be fairly atrocious." But a tipster sent along a current shot of the lobby renovation (above), and the floor could be a lot worse, right? And besides, there's bigger Dev news to get to.

The website for the conversion has recently gone live, and there are all sorts of goodies, including model unit photos and a handful of floorplans and prices (Stribling's listings aren't online yet). Crews have been busy tearing apart and combining units for months-the Devonshire was originally all 1BRs and 2BRs- and the results show: The early examples are already winning raves on StreetEasy.

As for prices, a polished pre-war gem like this would've easily commanded jawdropping prices back in the good ol' days, but now we'll classify them only as eyepopping: most units are between $1,300 to $1,600 per foot, and the one 4BR, 3.5A unit currently listed creeps all the way up to $1,746/sf (albeit on the second floor, so prices have the potential to go way higher). The renovation of the building will add a landscaped roof deck, concierge, gym, playroom, refrigerated lobby storage and a renewed focus on the interior courtyard. It's an Uptown vibe in a Downtown locale, in a city that greatly needs a success story. So how will it sell?

Curbed Inside: Old Meets New at Devonshire House

Monday, October 5, 2009

Would you look at that? A $4.1 million apartment just went into contract at the Devonshire House, the renovation and condo conversion of the Emory Roth-designed rental building at East 10th Street and University Place. It's the first sale in the building, and it just so happens to coincide with our visit to the Dev House to get a look at that controversial lobby and 4BR, 3.5BA model apartment. Why'd we scope out the model? Curiosity, mostly.

There are a few interesting things at play here. While top-to-bottom pre-war renovation with hefty price tags are nothing new, this one is in the heart of the Central Village. A downtown Apthorp, if you will. The model unit is a 2,720-square-foot sprawler up on the fourth floor, combined from three apartments (most Dev House rentals were studios-2BRs). It hasn't yet been released for sale, but expect an asking price around $5 million. Handling all design duties is Victoria Hagan, a big name with the Architectural Digest set. Is the market ready to absorb this bad boy? We'll see if other sales follow, but a slightly testy StreetEasy thread does mention some packed open houses.