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The Real Wealth of New York City Amy Begg & Anne Brownlee Sponsored by.

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Presentation on theme: "The Real Wealth of New York City Amy Begg & Anne Brownlee Sponsored by."— Presentation transcript:

1 The Real Wealth of New York City Amy Begg & Anne Brownlee Sponsored by

2 Introduction to session In this session, we will cover the complexities of NYC real estate including the co-op mysteries and define the lifestyles of these potential prospects. We will discuss the philanthropic and financial pressures of NYC wealth and how to present a strategic plan for fundraisers.

3 Session overview New York City real estate Schools Philanthropy Social involvement (boards, clubs, etc.) Strategic Plan In this presentation we are not planning to discuss the creation of wealth. The presentation will focus on lifestyle and other indications of wealth.

4 Real estate- New York City

5 Real estate – condo versus co-op What is a condo? Benefits of owning a condo? Negatives of owning a condo? Top NYC condos

6 Real estate – co-op versus condo What is a co-op? Benefits of owning a co-op? Negatives of owning a co-op? Top NYC co-ops

7 Real estate – identifying and valuing Locating ownership information ACRIS Property Shark (1 free search per day or subscribe) Paid vendors (e.g. Lexis/Nexis, Dataquick, etc.)

8 Real estate- ACRIS





13 Real estate- Property Shark




17 Real estate- identifying and valuing Locating building information Building type Number of floors/apartments Size (Sq. footage, bedrooms/bathrooms, terrace, etc.) Location Financial requirements

18 Real estate- City Realty




22 Real estate- identifying and valuing Values/comparables Realtor sites Street Easy Trulia Douglas Elliman Stribling Sothebys Corcoran

23 Real estate – other considerations Taxes New York City sales tax Property tax Flip tax Broker fees Townhouses Parking spaces

24 Real estate- unwritten rules Neighborhoods Identities and characteristics Building requirements The Good Buildings Unlisted apartments Outside space (terrace, roof deck, etc) Different addresses for the same building Named buildings (e.g. Beresford) New York Observer

25 Private schools – facts & figures Pre-school to high school Kindergarten acceptance percentages Metropolitan Montessori School – Pre-K $24,600 FY14 Testing Top private schools with tuition costs Manhattan The Brearley School - $38,200 FY14 Boroughs Horace Mann School - $39,100 FY14 Suburbs Rye Country Day School - $34,600 FY14 Boarding Deerfield Academy (Deerfield, MA) Tuition- $47,500 FY14 Estimated total cost of attendance - $49,625 FY14

26 Private schools – other considerations Coaches/consultants Tutors Additional financial considerations Philanthropy Annual giving Campaigns Board involvement Social pressure

27 Philanthropy - engagement Personal Usually the donors number one philanthropic priority. Quid pro quo Usually the donors family/friends number one philanthropic priority. You support my organization, I will support yours. Business Expected contributions based on business relationships, etc.

28 Philanthropy - giving pressures Major gifts Pledges Name gifts Campaign gifts Endowed gifts Event Sponsorship Membership Direct mail

29 Philanthropy- events checklist Tables Tickets Individual Seating Tickets $2,000 Leadership table of ten - $50,000 Sponsor table of ten - $250,000 Pressure to seat the table with the right people Fashion choices Dress: J. Mendel Gown- $7K+ Shoes: Christian Louboutin Pump - $3K+ Handbag: Judith Leiber Clutch - $4K+ Auctions Silent versus live

30 Social involvement – civic boards Boards Examples of prestigious boards Metropolitan Museum of Art - $10M New York Public Library - $5M Lincoln Center - $250K Memorial Sloan Kettering Central Park Conservancy Giving requirements Volunteering/corporate expectations Non- New York Boards College/university Private school National Organization

31 Social involvement - clubs Clubs Examples of prestigious clubs Core Club New Yacht Club Liberty National Golf Club (Jersey City, NJ) Round Hill Club (Greenwich, CT) Shinnecock Hills Golf Club (Southampton, NY) Wealth Clubs Examples of private wealth club Tiger 21 MetCircle Society

32 Strategic Plan Education Researcher Fundraiser

33 Strategic Plan Prospecting projects/programs Club memberships Prestigious addresses Titles of wealth (senior managing director, managing director, partner, etc.) Wealth clubs Connections/pathways Board memberships Brokers Potential hosts/event locations Country Clubs Prestigious apartments


35 Contact information Amy Begg 617.495.0352 Anne Brownlee 617.384.5512

36 Resources- real estate 740 Park by Michael Gross The Skys the Limit: Passion and Property in Manhattan by Steven Gaines New York City Maps and Neighborhood Guide ACRIS City Realty City Realty Top Tens Property Shark Streeteasy Trulia Douglas Elliman

37 Resources - other BizBash's Top 100 Annual Events of 2012 -york/story/22345/#sthash.eWQTRvU5.dpbs -york/story/22345/#sthash.eWQTRvU5.dpbs Bloomberg by Bloomberg by Michael Bloomberg Bravo TV Million Dollar Listing Real Housewives of New York NYC Prep HGTV Selling New York New York Social Diary New York Observer New York Post Platinum Clubs of America Richistan by Robert Frank Social register Town and Country

38 Resources – select articles Before College, Costly Advice Just on Getting In New York Times, 7/19/09. Capital of the Rich New York Times 4/26/04. Flip-Flopping on Flip Taxes New York Times, 9/3/10. If Youve Got It, Flaunt It New York Magazine, 7/13/09. Irwin, Robert. Tips and Traps When Buying a Condo, Co-op, or Townhouse It Happened One Weekend Curbed, 3/9/09. Madoff, Madonna and the Co-op The Times (London), 1/9/09. Make a Bid New York Times, 3/8/09. Manhattan Apartment Prices Skid 13%-19% in Q2 Associated Press, 7/2/09. New York Observer The Real Deal A unit-by-unit look at 15 CPW Rich, but Rejected New York Times, 7/13/08. Rich Kid Syndrome New York Magazine 1/8/08 Robin Hood Event Adjusts to Tough Times New York Times 5/12/09. Soaring Charges Hit Condo, Co-op Owners Crains New York Business, 2/23/09. Spirit of Cooperation Chicago Sun Times, 6/7/09. The Struggle to Sell 985 Park Avenue Luxist 6/20/09. Theres a Problem With Your Application New York Magazine, 3/30/09. Trustees Find Board Seats Are Still Luxury Items New York Times, 4/3/10. Where Everyone Knows Your Portfolio New York Times, 10/14/07.

39 Resources – photo credits 15 CPW – Trump Palace – The Pierre Penthouse – Hark Lane Blog The Pierre Fall View – Manhattan Miami Real Estate 740 Park Ave -

40 Resources – websites

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