Real Wealth of New York - Association of Fundraising Professionals

Transcript Real Wealth of New York - Association of Fundraising Professionals

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

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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.

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.

Real estate- New York City

Real estate – condo versus co-op

 What is a condo?

 Benefits of owning a condo?

 Negatives of owning a condo?

 Top NYC condos

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

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.)

Real estate- ACRIS

Real estate-ACRIS

Real estate- ACRIS

Real estate- Property Shark

Real estate- identifying and valuing

 Locating building information      Building type Number of floors/apartments Size (Sq. footage, bedrooms/bathrooms, terrace, etc.) Location Financial requirements

Real estate- City Realty

Real estate- identifying and valuing

 Values/comparables  Realtor sites  Street Easy  Trulia  Douglas Elliman   Stribling Sotheby’s  Corcoran

Real estate – other considerations

 Taxes    New York City sales tax Property tax Flip tax  Broker fees  Townhouses  Parking spaces

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

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

Private schools – other considerations

 Coaches/consultants  Tutors  Additional financial considerations  Philanthropy  Annual giving  Campaigns   Board involvement Social pressure

Philanthropy - engagement

 Personal  Usually the donor’s number one philanthropic priority.

 Quid pro quo  Usually the donor’s family/friends number one philanthropic priority.

 “You support my organization, I will support yours.”  Business  Expected contributions based on business relationships, etc.

Philanthropy - giving pressures

 Major gifts     Pledges Name gifts Campaign gifts Endowed gifts  Event  Sponsorship  Membership  Direct mail

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

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

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

Strategic Plan

 Education   Researcher Fundraiser

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

Contact information

 Amy Begg   [email protected]

617.495.0352

 Anne Brownlee   [email protected]

617.384.5512

         

Resources- real estate

740 Park by

Michael Gross

The Sky’s the Limit: Passion and Property in Manhattan

by Steven Gaines New York City Maps and Neighborhood Guide  http://www.cityguidemagazine.com/viewpage.cfm?colid=4362 ACRIS  http://www.nyc.gov/html/dof/html/jump/acris.shtml

City Realty  www.cityrealty.com

City Realty Top Tens  http://www.cityrealty.com/buildings/top_ten.cr

Property Shark  www.propertyshark.com

Streeteasy  www.streeteasy.com

Trulia  www.trulia.com

Douglas Elliman  http://www.prudentialelliman.com/

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Resources - other

BizBash's Top 100 Annual Events of 2012

 http://www.bizbash.com/new_yorks_top_100_events_2012/new -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  http://www.newyorksocialdiary.com/

New York Observer

 www.observer.com

New York Post

 www.nypost.com

Platinum Clubs of America

Richistan by

Robert Frank Social register

Town and Country

Resources – select articles

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“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 You’ve 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” Crain’s 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.

“There’s 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.

Resources – photo credits

    15 CPW – nycondoblog.com

Trump Palace – CityRealty.com

The Pierre Penthouse – Hark Lane Blog The Pierre Fall View – Manhattan Miami Real Estate  740 Park Ave - weblo.com

Resources – websites

 www.elikaassociates.com

 www.unbroker.com

 www.urbandigs.com

 www.Citi-relocation.com

 www.cityguidemagazine.com

 www.tiger21.com

 www.observer.com

 www.thecoreclub.com

 http://www.nyyc.org/  http://www.libertynationalgc.com/