SELECT VIEWS
December 2008
Brown Harris Stevens SELECT's Shlomi Reuveni answers our questions about the founding and future of a unique niche international real estate marketing machine in today's current economic climate.
Q: How does SELECT complement Brown Harris Stevens?
A: Established in 1873, Brown Harris Stevens (BHS) is Manhattan's premier residential brokerage firm, a boutique powerhouse with more than 130 years of experience and deep relationships with the most affluent and influential international clientele. Brown Harris Stevens SELECT, the new-development division of BHS, has built itself upon this legacy of excellence, specializing in marketing and branding of important new development properties worldwide. SELECT offers a strong, focused structure with a long-term innovative vision and detailed strategy. We choose to represent smart and sophisticated developments with inherent architectural and design attributes and value. BHS SELECT benefits from an exclusive affiliation with Christie's International Real Estate, with the largest network of real estate brokers dedicated to the marketing and sale of important properties. This network is comprised of more than 850 real estate offices, and nearly 35,000 sales associates in more than forty countries. The marketing efforts of Christie's and Christie's International Real Estate provide far-reaching exposure to an affluent audience of homeowners and homebuyers. It is an ideal and unparalleled collaboration, affording us the tools for marketing real estate worldwide. Our ability to cross market projects internationally is the key to our successful marketing and branding campaigns.
Q: Why did you develop this special arm of development and marketing and when did it begin?
A: We launched SELECT in 2007. The new development industry, which at one point represented a small niche market, has become a significant aspect of real estate in New York and around the world. We have experienced overwhelming demand from a new generation of savvy consumers who aspire to innovative architecture, smart home designs, and new living habits. The vision and execution ability required for such developments are a natural extension. As a market leader, we are in a position to broaden our services by offering our experience, resources, and brand recognition to leading developers and projects.
Q: How does SELECT generate buyers and sellers for both domestic and international markets?
A: Our marketing vision, brand advantage, and unparalleled reach with a worldwide audience through our Christie's affiliation sets us apart from other marketing firms. We believe in smart, targeted, and sophisticated campaigns, directed locally, nationally, and internationally.
Q: What are your latest developments that you find the most exciting?
A: We are currently marketing a number of exciting new development projects including 15 Union Square West (15USW); a conversion of the 1870s Tiffany & Co. headquarters. Our developer, Brack Capital USA, has created a contemporary landmark, smartly adding six new floors to the original structure while preserving and showcasing its impressive cast iron architecture. With the creative force of architect Eran Chen, and world renowned interior designer Vicente Wolf, Brack Capital has added a true compliment to Manhattan's skyline. We are also working on a number of new projects encompassing new and innovative architectural, engineering, and design concepts featuring the latest technologies. These new developments promise to redefine our idea of "home."
Q: How do these developments enhance your reputation as a luxury broker?
A: Since 1873, BHS has enjoyed a longstanding reputation as an innovative market leader. With SELECT and Christie's International Real Estate, we're extending this stellar tradition to our important new developments. Our unique position allows us to contribute our resources, experience and social awareness to the world of architecture and design in positive ways that will improve and enhance our cities and communities.
Q: Who are you most valued partners and what services do you provide them?
A: We recently participated in the launch of Microsoft's breakthrough technology, Photosynth. This exciting visual medium created by Microsoft Live Labs, combines dozens of digital photos to create a 360-degree viewing experience with clarity, detail, and scale. Partnering in the launch allowed us to become the first real estate company ever to utilize this technology. We also partnered with Christie's for the previews of two of their most popular auctions at 15USW. In February, we hosted an onsite preview for the Post War and Contemporary Art auction and in September, we hosted the preview for the South Asian Modern and Contemporary Art auction. Both events successfully brought together an affluent crowd in a space where the audiences are the same. SELECT was fortunate to partner on the Tour Signal Competition in La Defense, Paris, a competition to create a design and lifestyle concept for a multiuse development project in the heart of Paris' financial district. The competition consisted of 16 teams of developers and architects. Because of SELECT's marketing strength, we were asked to partner with a team of an international developer and world renowned architect, Daniel Libeskind, and ended as one of the five finalists, alongside the legendary Norman Foster and Jean Nouvel.
Q: How do you think SELECT will change the real estate market overall?
A: Because of our commitment to excellence, our goals remain resolute. We choose development projects based on their inherent value as well as sophisticated nature. We provide expertise in marketing, research, creative, legal, and sales. Our integrity and drive produce valued results for the industry and our community. SELECT and Christie's International Real Estate are an ideal collaboration. No other firm in New York can offer this type of service or this type of connection.
Q: Is there a particular insight that you would share with us about analyzing the market today?
A: Given the current economic situation, with conditions unlike anything we've seen for sometime, emotions are mixed: uncertainty, confusion, fear. Many potential buyers are taking a "wait-and-see" approach. This too shall pass. We must remember-New York is the most amazing city in the world as a social, cultural, and business magnet. Our population is growing, while at the same time the opportunities for new developments are decreasing. I believe these conditions are creating exceptional opportunities for purchasing. Our advantage over other markets is the uniqueness of our great city and its place and image around the world.
