Our involvement begins often before a property is acquired or built. We assist owners and developers in analyzing a proposed acquisition to determine the best and highest use and prepare a comprehensive market survey including schedules detailing sales and rental pricing.
Our specialty is in the development, sale and rental of luxury properties. We consult with developers and architects to create the best apartment layouts, unit features and building amenities to bolster every major new Manhattan condominium constructed in recent years - we know what sells.
We review your building's proposed operations to ensure that the package of amenities, building services, staffing and other features are properly conceived to maximize selling prices and resale value.
We also review the building's proposed operating documents (including Rules and Regulations and By-Laws) to assure that they will create an environment in line with your goals.
We will prepare Schedule A of the Offering Plan, setting forth all common charges, taxes and initial sales prices. In addition, Warburg will prepare one or more Schedule A pro formas, as needed, reflecting price changes based on initial buyer interest. This will permit counsel to submit price-change amendments without delay.
Warburg oversees the preparation of Schedule B of the Condominium Offering Plan, setting forth the property's first year's operating budget.
Condominium and Cooperative Conversion
Warburg provides an extensive menu of services to investors throughout the complex process of converting properties to cooperative and condominium ownership. These include:
Preparing price and share allocations or percentages of common interest
Consulting with advertising and public relations counsel
Marketing unsold or vacant apartments
Staffing an on-site sales office
Reaching out to current residents
Warburg works with top lenders to provide builders, developers, and sponsors with the invaluable expertise of an integrated team committed to the successful sell-out of every project.
We will work with you to identify lenders appropriate for your project's size and position in the sales process. As a benefit of our relationship, they will provide the sales office with all necessary materials and technical support for pre-approving prospective buyers, including rate and product information updated on a weekly basis.
Warburg brings over a century of cutting edge experience to its role in managing the marketing of new and converted properties. Our services include assistance in budgeting and scheduling, property branding, preparation of marketing materials, advertising, public relations, on-site sales, web design and support, and design input for model apartments. Working with your design professionals, we will assist in the overseeing of photoshoots, brochures, direct mail, online and print advertising and signage. We work with our developers to customize a marketing program for a cost-effectiveness and maximum exposure.
Creating an Image
With your design partners, we assist our clients in the creation of an appropriate marketing concept for the project. A unique identity, established at the outset, will be carried through all aspects of the project's advertising and marketing, including on-line and print marketing, property brochures, office stationery, direct mail, building signage and displays.
Testing the Market
If requested, we will work with your attorney to complete a CPS-1 filing with the Department of Law. This will enable us to launch preliminary marketing efforts and test the market before the offering plan is accepted for filing and active marketing begins.
On-Site Sales Environment and Site Signage
As appropriate to the size and scale of your development, Warburg sales professionals will be on-site on a regular basis and will hold regular open houses for the brokerage community and public. We work with our developers to design and set-up the on-site sales environment. The office will be fully equipped with property information packages, floor plans, images and press materials. We will also work with your vendors to prepare site signage in advance of sales.