Agent Detail
Warburg Realty - A Higher Standard Since 1896
Craig Schiller Craig Schiller
Licensed Assoc. Real Estate Broker

Office:  969 Madison Avenue
NY, NY 10021
Phone:  212-300-1825
Fax:  646-422-4025
Email:  cschiller@warburgrealty.com

My personal and professional background is relevant to your needs. I am a native Manhattanite and have always lived here (except for 4 college years at Cornell University where I was a math major and 3 law school years in Washington, D.C. where I was an honors graduate). I also have a graduate law degree from NYU Law School. Since 1978, I have been a New York licensed real estate broker. During that entire period I have been engaged in the private practice of law at Wall Street as well as boutique Manhattan law firms. The last 15 years of my law practice has been focused on advising small business owners and cooperative and condominium Boards of Manhattan luxury properties on all legal ABC's pertinent to the operation of such properties, from Alterations, to By-laws, to Contracts to Disputes all the way to Zoning. I have personally structured, negotiated, documented and closed hundreds of matters -- both simple and complex -- and have successfully founded, financed, owned, and operated a profitable Manhattan law firm. I have handled numerous litigation matters, served as an arbitrator and Federal mediator, written, lectured and taught on real estate matters, and have developed many proprietary methods of getting deals done where others have failed. There are few challenges involving the sale, purchase, financing, leasing, mortgaging, alteration, management or board approval of a Manhattan apartment that I have not encountered and brought through to a successful conclusion. Here at Warburg, I have been involved in selling about 50 Upper East Side and other Manhattan properties in smooth and fast transactions. My background in real estate law allows me to identify opportunities where others see obstacles, to command the respect of other industry professionals such as bankers, lawyers, co-brokers, sponsors, managing agents, and boards based upon accumulated expertise, and to work effectively to serve the requirements of my clients and customers.
Current Apartment Listings
LOCATION PRICE TYPE ROOMS BR BA SQ FT
1 West 72nd Street
NET#361977
$14,500,000 COOP 10.0 4 3.5 n/a
343 East 74th Street
NET#1302888
In Contract
$499,000 CONDP 2.5 n/a 1.0 466

Apartment Sales and Rentals
LOCATION TYPE TRANSACTION ROOMS BR BA SQ FT
33 Riverside Drive
NET#696434
COOP Sale 7.0 4 2.5 n/a
408 East 79th Street
NET#482943
CONDO Sale 6.0 3 3.0 n/a
343 East 74th Street
NET#487112
CONDP Sale 6.0 3 3.5 1,813
343 East 74th Street
NET#561870
CONDP Sale 6.0 3 3.5 1,862
343 East 74th Street
NET#935012
CONDP Sale 6.0 3 3.0 2,251
515 West End Avenue
NET#725433
COOP Sale 5.5 3 2.0 n/a
450 East 83rd Street
NET#432176
CONDO Sale 5.0 3 3.5 1,866
343 East 74th Street
NET#294184
CONDP Sale 5.0 2 2.5 1,265
343 East 74th Street
NET#418489
CONDP Sale 4.5 2 2.0 974
343 East 74th Street
NET#422343
CONDP Sale 4.5 2 2.0 1,015
200 East 57th Street
NET#430051
COOP Sale 4.5 2 2.0 n/a
343 East 74th Street
NET#470578
CONDP Sale 4.5 2 2.0 1,015
343 East 74th Street
NET#491909
CONDP Sale 4.5 2 2.5 1,111
343 East 74th Street
NET#25536
CONDP Sale 4.5 2 2.5 1,265
343 East 74th Street
NET#1186701
CONDP Sale 4.5 2 2.0 1,140
343 East 74th Street
NET#27454
CONDP Sale 4.5 2 2.0 1,022
343 East 74th Street
NET#282677
CONDP Sale 4.5 2 2.5 1,111
343 East 74th Street
NET#284942
CONDP Sale 4.5 2 2.0 1,015
152 East 94th Street
NET#560485
COOP Sale 4.0 1 1.0 n/a
343 East 74th Street
NET#560486
CONDP Sale 4.0 2 2.0 1,100
430 East 56th Street
NET#299378
COOP Sale 3.5 1 1.0 n/a
343 East 74th Street
NET#301676
CONDP Sale 3.5 1 1.0 770
343 East 74th Street
NET#480475
CONDP Sale 3.5 1 1.0 769
343 East 74th Street
NET#502175
CONDP Sale 3.5 1 1.0 621
1214 31st Avenue
NET#528089
CONDO Sale 3.5 1 1.5 630
343 East 74th Street
NET#531634
CONDP Sale 3.5 1 1.0 769
343 East 74th Street
NET#570518
CONDP Sale 3.5 1 1.0 800
343 East 74th Street
NET#571716
CONDP Sale 3.5 1 2.0 851
343 East 74th Street
NET#756149
CONDP Sale 3.5 1 1.0 621
343 East 74th Street
NET#109611
CONDP Sale 3.5 1 1.0 769
343 East 74th Street
NET#120450
CONDP Sale 3.5 1 1.5 831
343 East 74th Street
NET#604538
CONDP Sale 3.5 1 1.0 621
185 West End Avenue
NET#688012
COOP Sale 3.5 1 1.0 n/a
343 East 74th Street
NET#750075
CONDP Sale 3.5 1 1.5 831
343 East 74th Street
NET#828689
CONDP Sale 3.5 1 1.0 642
343 East 74th Street
NET#932009
CONDP Sale 3.5 1 1.0 769
343 East 74th Street
NET#969990
CONDP Sale 3.5 1 1.0 819
343 East 74th Street
NET#1010407
CONDP Sale 3.5 1 1.5 851
343 East 74th Street
NET#72259
CONDP Sale 3.5 1 1.5 851
343 East 74th Street
NET#108266
CONDP Sale 3.5 1 1.5 851
340 East 80th Street
NET#467817
COOP Sale 3.0 1 1.0 n/a
301 East 69th Street
NET#509680
COOP Sale 3.0 1 1.0 n/a
301 East 69th Street
NET#523962
COOP Sale 3.0 1 1.0 n/a
7 East 85th Street
NET#671494
COOP Sale 3.0 1 1.0 n/a
343 East 74th Street
NET#415117
CONDP Sale 2.5 n/a 1.0 423
343 East 74th Street
NET#419250
CONDP Sale 2.5 n/a 1.0 537
343 East 74th Street
NET#434760
CONDP Sale 2.5 n/a 1.0 466
343 East 74th Street
NET#492492
CONDP Sale 2.5 n/a 1.0 466
343 East 74th Street
NET#499427
CONDP Sale 2.5 n/a 1.0 466
343 East 74th Street
NET#506993
CONDP Sale 2.5 n/a 1.0 466
343 East 74th Street
NET#510219
CONDP Sale 2.5 n/a 1.0 423
343 East 74th Street
NET#546626
CONDP Sale 2.5 n/a 1.0 581
343 East 74th Street
NET#551662
CONDP Sale 2.5 n/a 1.0 524
343 East 74th Street
NET#579190
CONDP Sale 2.5 n/a 1.0 466
343 East 74th Street
NET#590445
CONDP Sale 2.5 n/a 1.0 586
343 East 74th Street
NET#606529
CONDP Sale 2.5 n/a 1.0 466
343 East 74th Street
NET#132990
CONDP Sale 2.5 n/a 1.0 537
343 East 74th Street
NET#1159842
CONDP Sale 2.5 n/a 1.0 581
123 East 37th Street
NET#970025
COOP Sale 2.0 n/a 1.0 n/a

Press Mentions
3.22.09 NY Times The Hunt -- A New Performance on 94th Street
The Hunt

A New Performance on 94th Street

WHEN they lived on Ocean Parkway in Brooklyn, Kristi Boone and Isaac Stappas — dancers for American Ballet Theater — had such a time-consuming trip home from work that they bought a car.

After performing until, say, 11 p.m.; changing into street clothes; stepping out the stage door; and maybe signing some autographs, they would have an hourlong two-subway ride home and would still need to get up early for class the next day.

The young couple had schedules that didn’t always coincide. Sometimes Ms. Boone would be finished after a ballet’s first act, while Mr. Stappas danced until the end. Waiting so they could drive home together, she would sew ribbons and elastic on her pointe shoes or read shelter magazines at the Barnes & Noble cafe near Lincoln Center, sometimes sipping an iced decaf latte.

Ms. Boone, now 27, who is from Fairport, N.Y., a suburb of Rochester, gladly gave up jazz and tap dance after sampling classical ballet at age 13.

Mr. Stappas, 28, who is from Kernersville, N.C., near Winston-Salem, followed his older sister to the North Carolina School of the Arts, where she took dance lessons. As an 8-year-old, “I didn’t have any other hobbies,” he said, “so my mom conned me into ballet.”

Once in New York, Ms. Boone lived first with two other dancers in a one-bedroom apartment near Lincoln Center, and later by herself on the Upper East Side. Mr. Stappas had roommates in Brooklyn. They married in 2006.

When the couple bought their Kensington co-op three years ago, “we were just starting out and didn’t think we could really quite afford what we wanted in Manhattan,” Ms. Boone said. “That was when the market was superhot.”

The more they hunted, the more they realized they didn’t want a nicely finished place, since they would alter it to their taste anyway. A fresh renovation of a run-down apartment would provide a greater return when it was time to sell, too.

In the Ocean Avenue building, they’d had a choice of a redone one-bedroom or a mess of a two-bedroom. For the same money, around $275,000, there was no question that they would buy the two-bedroom. Back then, they had no idea what renovation entailed. “It sounded so simple in our minds,” Ms. Boone said. “I had painted my bedroom growing up.”

By the time they were finished, nine months later, “Isaac knew how to do everything,” she said. With no elevator, he hauled drywall and plywood up the stairs. His grandfather helped him put tile down in the bathroom.

Living there during the renovation was awful, she recalled. “That is not something I would recommend,” she said. “I would wake up in the morning with plaster dust on my eyelashes.”

The trip to American Ballet Theater’s studio at Broadway and 19th Street, where the dancers usually rehearse, took only one subway. Still, the couple felt removed from their friends, who rarely visited. When they invited people for dinner, they limited the guest list to the number that could fit in the car for the drive home — a total of five, though sometimes an extra ballerina squeezed in.

Last summer, they found themselves wanting to move to Manhattan and embark on another renovation. Ms. Boone says she envisions becoming “some kind of interior designer when I am done dancing.”

“Seeing something that starts out so-so or really bad and watching the progress and seeing the finished product is rewarding,” she said. “Not as rewarding as dance,” but with fewer aches and pains.

So the couple began hunting for a one-bedroom co-op on the Upper East Side, where there were plenty for sale. Their budget was $500,000 to $700,000.

Ideally, they would have an elevator and a doorman. “I haven’t had a doorman since I first moved to the city” at age 16, Ms. Boone said. “I adored getting packages” from home, “and if you don’t have a doorman it is hard to get a package.”

The right layout, with a window in the bathroom and the kitchen, was also important. “You can’t change that — you can’t put in a window,” Ms. Boone said.

They considered a one-bedroom on East 67th Street, priced at $679,000. (The price later fell to $579,000.)

With 850 square feet, it was on the small side, though outdated enough to make for a worthy renovation project. But the kitchen wall that they wished to remove held water pipes and gas lines.

A ground-floor two-bedroom on East 92nd Street, at 950 square feet, initially seemed promising, but was way too dark. (The price started at $700,000, but is currently $560,000.)

“You can’t tell there are buildings right near you from the floor plan,” Ms. Boone said. “No matter how many walls you knock down, you can’t change the fact you are not getting any light.”

Searching online, they found a one-bedroom on East 94th Street, an estate sale with nearly 1,000 square feet and two enormous bedroom closets. The price was $695,000.

Mr. Stappas checked it out on his favorite Web site, Streeteasy.com. Because the site includes price history, “you can make a plan before you go in there,” he said. The apartment had been on the market for about eight months.

“Isaac went right to work to see if he could knock down the wall,” Ms. Boone said. He could. So they could easily enlarge the kitchen. The floors were marred with nicks and paint drips, and the bathroom fixtures were stained.

They offered $580,000, and bought the apartment for $585,000. “It was odd to feel as a buyer you had the upper hand,” Ms. Boone said. Monthly maintenance is around $1,150.

Previous deals had fallen through because of financing issues, according to the listing agent, Craig Schiller of Warburg Realty. In this case, there were many contingencies. The buyers of the Kensington apartment, which sold for $415,000, needed to close before Ms. Boone and Mr. Stappas received a mortgage commitment.

“Prior to the financial crisis,” Mr. Schiller said, “a lot of this was being done simultaneously,” whereas now it is happening sequentially.

The couple finally closed last month. This time, they want to finish construction before moving in, so they have stored their furniture and are staying with dancer friends. They are impatient to begin, but must first get their permits in order. Co-op boards seem to be far more strict in Manhattan than in Brooklyn, they said.

“Once the hammer hits the wall, I can’t wait,” Mr. Stappas said. “I am, wow, this has a lot of potential, and Kristi is a phenomenal designer so I trust her eye completely.”

The couple hope to be living in their new home for the most demanding time of year — the eight-week spring season at the Metropolitan Opera House. Ms. Boone, a soloist, will dance the lead role in Prokofiev’s “Prodigal Son,” choreographed by George Balanchine. Mr. Stappas, a member of the corps de ballet, has a prominent role in “Romeo and Juliet.”

“It would be nice to go home to a home,” Ms. Boone said, wistfully. That’s unlikely. “I never thought, we bought an apartment — great, we are going to be homeless!”



7.17.08 Build Me a Story: 1 W. 72nd St.
Build Me a Story: 1 W. 72nd St.
By JILL PRILUCK | July 17, 2008
http://www.nysun.com/real-

1 W. 72nd St., #46 Between Central Park West and Columbus Avenue
Ben Parker



Price: $18.5 million
Maintenance: $7,669
Broker: Craig Schiller/Warburg

This 10-room home is in the Dakota and has a view of the building's courtyard. About 4,500 square feet, it contains a foyer, parlor, living room (also called the ballroom), library (or fourth bedroom), kitchen (with a family room and pantry), master bedroom, two additional bedrooms, three full baths, and a powder room. Most original details are intact, including the wood shutters, pocket doors, moldings (except in the kitchen), doors, inlaid floors, and built-in kitchen cabinetry. The living room features a hand-painted ceiling (based on Monet's Giverny series), a floor-to-ceiling window (one of three in the apartment), and a sandalwood fireplace mantel designed in the British Colonial style (the hearth is made of pink onyx). The parlor and dining room feature lacquered walls, while the gallery, which contains an Art Deco bar, is finished in gold patina. This apartment also has six wood-burning fireplaces, 13-foot ceilings, and two-foot-thick walls. Amenities in this building, completed in 1884, include doorman, concierge and sentry services.


6.29.08 New Is Nifty, Old Is Gold
June 29, 2008
BIG DEAL
New Is Nifty, Old Is Gold

By JOSH BARBANEL

WHY buy the copy when you can get the real thing?

That is what some buyers passing through the newly finished limestone portal at 15 Central Park West, brokers at their side, might want to ask themselves, now that there are two 10-room apartments on the market at the 19th-century Dakota, a short limo ride 10 blocks to the north, on West 72nd Street facing Central Park.

After all, 15 Central Park West was designed by Robert A. M. Stern to echo the Dakota and other grand prewar buildings along Central Park, while providing a pool and other current amenities.

The concept has been so successful that six condominium owners have already resold their apartments at nifty profits and, according to the Web site Streeteasy.com, 17 more have their apartments on the market, not counting two huge penthouses with asking prices of $80 million and up.

At the Dakota, you will still have to empty your pockets to get past the co-op board, but for the trouble and for prices that are, on a square footage basis, roughly comparable to those at 15 Central Park West, you can acquire a rarely available apartment in a celebrated building with high gables and deep roofs, gas-lighted entryway and aura of power and mystery. The Dakota was completed in 1884.

John Burger, a broker at Brown Harris Stevens, said that the apartments now on the market were both on the same line, the largest in the building, “not counting combined apartments, such as the former Leonard Bernstein residence, the former Rudolf Nureyev residence and the current Yoko Ono residence.”

Mr. Burger has just listed a newly restored sixth-floor apartment, owned by a Wall Streeter, for $24 million, or about $5,000 a square foot. The place has four bedrooms, four wood-burning fireplaces, original molding, a 16-foot-long gallery and a 29-foot corner living room with large windows.

Mr. Burger described 15 Central Park West as a trophy building, the Dakota as art that requires a discerning buyer. “I think of those apartments being like good paintings,” he said. “You either appreciate the architectural integrity of the building, the woodwork, the ironwork, or you don’t.”

Craig Schiller, at Warburg Realty Partnership, is offering a similar apartment two floors below; it is owned by an advertising executive, according to property filings. The asking price is $18.5 million, or a more affordable $4,000 a square foot.

The apartment has 14-foot ceilings, with details including original shaving closets in the bathrooms, paneled rooms and a 16-foot gallery, he said.

“Without denigrating anything in particular,” he said, “in new construction you only know how well it was built a number of years later. But if the building is a hundred years old, any construction defects have been identified and fixed a generation ago.”


So far the highest price at the Dakota was the $20.5 million sale in January to Philip Milstein, a scion of the Milstein real estate fortune, and his wife, Cheryl. That apartment was sold by Dolly Lenz, of Prudential Douglas Elliman, who had listed it in fall 2006 for $25.5 million.

Mr. Schiller listed his co-op for $19.5 million in October 2006 and cut the price in May to $18.5 million. He said the reduction took into account the actual purchase price of the Milstein apartment.

At 15 Central Park West, an eight-bedroom 11th-floor apartment facing the park has an asking price of $22.7 million, or $6,526 a square foot.

5.11.08 Selling Isn't Poetry
May 11, 2008
Big Deal

Selling Isn’t Poetry

By JOSH BARBANEL

THERE was one last full-floor condominium lingering on the market in a meticulously restored and expensive prewar Park Avenue building at East 75th Street. So Elliott P. Joseph, the project’s developer, jumped on what he thought was the perfect sales sweetener: two free Lexus hybrids with the purchase.

Soon, however, Mr. Joseph sent a reporter a haiku-like text message reconsidering: “2 car idea / Still an idea / Not a reality yet.”

After meeting with his broker, Kathy Sloane of Brown Harris Stevens, and her boss, Hall F. Willkie, Mr. Joseph agreed to trim the asking price instead of offering inducements to sell the 11th-floor apartment at 823 Park Avenue.

The apartment has a 46-foot-wide living room and library (with mahogany paneling) facing Park Avenue, five bedrooms and nearly 4,200 square feet of space; the building has classical marble columns and a polished marble floor in the lobby.

Mr. Joseph agreed to lower the price by $500,000, to $14.9 million from $15.4 million.

As the peak spring selling season unfolds, owners of other co-op and condos lingering on the market have also been trimming asking prices, hoping to get ever-more-cautious buyers to give their properties a second look.

In the last 30 days, prices were cut on about 17 percent of the co-ops and condos in Manhattan, according to an analysis of listings on Streeteasy.com, a Web site that compiles information from most brokerage firms. Prices rose on around 2 percent of all Streeteasy listings. Among the most expensive properties — those listed for $10 million or more — there were fewer price changes, but price cuts outnumbered price increases by a ratio of 10 to 1.

That is one result of the cooler winds blowing through the Manhattan market, despite continuing high prices for completed co-op and condo transactions last month. Brokers say deals are being done, but they are showing apartments less often, and everyone is more cautious.

“I am having fewer showings, but more of the buyers who look at apartments are serious buyers,” said James Lansill, the senior managing director of the Corcoran Sunshine Marketing Group.

Among the price cuts listed on Streeteasy.com was one at the Dakota, at Central Park West and 72nd Street, where the price of a 10-room apartment was reduced by $1 million, to $18.5 million from $19.5 million. “As fabulous as your fantasy,” notes the listing at Warburg Realty by Craig Schiller and Meredith Specht.

At 1040 Fifth Avenue, the 17-story co-op designed by Rosario Candela at 86th Street, the asking price on an 11-room, five-bedroom apartment was cut by $3 million on May 5, to $21 million, four months after it was listed by Alina Pedroso of Brown Harris Stevens.

“Buyers are out there expecting to get good deals,” said Gregory J. Heym, the chief economist at Brown Harris Stevens and Halstead Property. “Some people who want to sell are more open to it.”

That isn’t evident from actual sales data from deeds and tax records filed with the city’s Finance Department. Preliminary data showed that prices rose last month, with the average sale price on a co-op or condo reaching $1.45 million, up 17 percent from a year earlier. The median price was $927,500, also up 17 percent.

At 823 Park Avenue, Mr. Joseph and his partners at the Property Markets Group thought they would be sold out by now, with total sales of about $166 million. They paid $60 million for the building, after the previous owner bought out the last of the rental tenants.

At first, the 11th-floor apartment quickly went into contract, to a couple expecting a baby, but with construction delays, Mr. Joseph returned their deposit and raised the price to $15.4 million.

Among the buyers in the building was Brendan Shanahan, the New York Rangers forward, who paid $13.4 million for the seventh floor.


5.1.08 Top Residential Firms 2008
The Real Deal May 2008 – Top Residential Firms 2008
Priciest Manhattan Listings by Firm
Warburg

Craig Schiller and Meredith Specht
Co-op at 1 West 72nd Street for $19,500,000



2.1.08 Residential Deals - Manhattan
The Real Deal February 2008
Residential Deals - Manhattan
Upper East Side

$460,000
343 East 74th Street
524sf studio co-op in postwar elevator building; marble bathroom, pass-thru kitchen, new washer/dryer, large walk-in closet; building has gym, roof deck, garage; maintenace $888; 66 percent tax-deductible; asking$469,000; five weeks on the market. (Brokers: Jamie Brietman, Bellmarc; Craig Schiller, Warburg)
5.1.07 Top Residential Firms 2007
The Real Deal May 2007
Top Residential Firms 2007
Warburg

Craig Schiller, Meredith Specht
Co-op at 1 West 72nd Street (the Dakota) for $19.5 million





ALL INFORMATION IN THIS DOCUMENT IS FROM SOURCES DEEMED RELIABLE BUT IS SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE OR WITHDRAWAL WITHOUT NOTICE. NO REPRESENTATION IS MADE AS TO ACCURACY OF ANY INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY DESCRIPTION, MEASUREMENTS OR SQUARE FOOTAGE. ALL INFORMATION SHOULD BE INDEPENDENTLY CONFIRMED AND ANY RELIANCE BY BUYER ON WARBURG'S INFORMATION IS SOLELY AT BUYER'S OWN RISK.
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