Page 6 - NY Cooperator October 2020

6 THE COOPERATOR — OCTOBER 2020 COOPERATOR.COM Cooperator.comFrom While the initial shock of the COVID-19 pandemic may have stopped much of our normal economic activity in its tracks, the gradual revival of business and commerce is inspiring some new thinking and new solutions for in- dividual unit owners, co-op and condo communities, and the boards that oversee them. Some of the changes we’ve seen as a result of the pandemic, such as working from home, distance learning, and gym-less exercise to name a few, may be here to stay—and are already affecting a broad swath of industries and professional relationships. Falling Off a Cliff With shutdown orders affecting everything from going to work and school to buying and selling homes, moving, renovating, and accessing amenities both private and pub- lic, more than a few commentators jumped on the band- wagon to trumpet the looming demise of New York City. While the market is clearly in flux, and the political cli- mate uncertain and dramatic to say the least, how it will all work out over the longer term is anybody’s guess. For the moment, most brokers are reporting increasing activity by both sellers and buyers, and just this week, CBS News reported that according to NYC-based moving companies, moves both out of and into New York City have increased dramatically since the beginning of the year; in fact, many movers say they are working at capacity. An interesting side effect of this reshuffling of residents and residences—as well as the work-from-home revolu- tion—is an uptick in business for design professionals, in- cluding architects, interior designers, decorators, stylists, and their adjacent colleagues. Marilyn Sygrove, a Manhat- tan-based interior designer and president of Sygrove As- sociates Design Group Inc., says, “When COVID hit, I was prepared for the worst—for no business at all. But in fact, the opposite is true for us. We have been getting quite a few new business calls precisely because more people are working from home and have canceled their flights for their summer vacations.” Owners are seeking ways to adapt their spaces to the realities of working from home, educat- ing their children from home, and maintaining their health through exercise at home. The Reality of Now Sygrove reports that unit owners are using ingenuity to reconfigure their spaces. It’s more than just eating, sleep- ing, and entertaining; “Now residents work, exercise, cook more than ever, supervise remote learning, meet on Zoom gatherings, and sometimes require multiple virtual access \\\[points\\\] at one time. There is a lot of creativity going on to separate spaces, coordinate schedules, survive, and thrive! Dining tables in particular are doing multiple duties.” Boards are active as well. With so many residents home all the time, they’re hearing more complaints about every- thing from noise to bedraggled-looking common spaces than pre-pandemic, when more people were spending the bulk of their waking hours elsewhere. “Looking at un- sightly, dim hallways, or pyramids of packages lining up in the lobby because their package room isn’t large enough to accommodate the surplus of people ordering things every single day from home while home is aggravating to board members and residents alike,” says Sygrove, adding that a byproduct of COVID is the concern that apartment values may plummet. “Now more than ever, they figure they need What’s Happening in Design Adapting Common Spaces to the New Normal BY A J SIDRANSKY As condo associations and co-ops across the nation (and the world) contend with amenities like gyms and playrooms remain closed or tightly limited, private outdoor establishing reopening procedures and monitoring protocols for their existing ameni- ties after COVID-related shutdowns, buildings that are still in development—or that ers access to (more or less) peaceful space, recreation, and nature is now constrained are contemplating common-space renovations—have a different question before them: by the need to practice social distancing and enforce mask-wearing. Proximity to these Do historically popular amenities still have the same appeal in the wake of a prolonged parks—once so desirable—may not have quite the same marketability as a private ter- pandemic? Mid-Development Shifts In Long Island City, Queens—which has seen a surge of new development after two her own home search in April took a u-turn from favoring “a big, full-service rental decades of changes in zoning laws and increased attention from buyers and renters building \\\[with\\\] lots of amenities and \\\[proximity to\\\] a subway with a short commute to interested in living in a safe, vibrant neighborhood close to Manhattan—builders of Midtown Manhattan” to something more along the lines of “\\\[b\\\]outique buildings and buildings in the planning or early construction stages are rethinking their development townhouses, \\\[with\\\] pet-friendly policies, apartments on the first floor, and apartments and marketing strategies to align with a new, post-pandemic reality. For example, according to a recent report in The New York Times, a planned movie theater theme intended to correlate with nearby Kaufman Astoria film studios is now on the cutting room floor at an upcoming 70-unit project in the Dutch Kills neighbor- hood. Rather than an in-house cinema, the building will now feature a “sanctuary” environment with state-of-the-art air purifiers and an emphasis on wellness. At Skyline Tower, a new LIC luxury condo that at 778 feet is now Queens’ tallest petition. At the Rowan, a new construction condo building in the Ditmars section of building, according to the Times , the building’s proximity to Midtown offices—once a Astoria, half of the 46 units will have private outdoor space, according to a separate key selling point for prospective buyers—has much less caché now that its target demo- graphic is largely working remotely. This shift has developers questioning how to mar- ket their 802 units, many of which were designed more to showcase high-end finishes nities like washer/dryer machines, has provided the Rowan with “strong interest despite and access to common amenities (like a 75-foot indoor pool) than square footage and the recent shutdown.” individual outdoor space. Some developments with the flexibility to alter previously-designed apartment floor tization practice—or a track record of having one even before the pandemic—should plans to reflect the seismic shifts triggered by COVID are looking to include home of- fices and decontamination rooms in their layouts, foregoing the once popular open floor plan to create more separate, private spaces, the Times indicates. And while common space is sure to be a big draw. Even the use of public parks that once offered New York- race, balcony, yard, or roof space in the wake of the pandemic. Jennifer White Karp, a writer for real estate blog Brick Underground , reveals that with private outdoor space and home offices.” New Marketing Techniques So how can the developers and marketers of residential real estate contend with this rapid about-face of priorities? For buildings too far along in their construction to drastically change floor plans, marketing may be the way they distinguish themselves from the ever-expanding com- Brick Underground piece. According to Stephen Kliegerman, President of Brown Harris Stevens Development Marketing, promoting this aspect, along with other in-unit ame- Real estate pros contend that developments with plans for a robust cleaning and sani- tout this as an asset in their sales and marketing materials. Similarly, keyless entry and continued on page 7 COOPERATOR.COM Playrooms & Pools...Or Purifiers & Pods? COVID Is Changing How Developers Market Units BY DARCEY GERSTEIN continued on page 7