Consulting for Urban Real Estate<br /> + Alyssa Green (GreenA85@newschool.edu)	<br /> + Anna Joyce (JoyceA83@newschool.edu...
Contents<br /><ul><li>  Introduction </li></ul>-  Background Information, Issues and Purpose of our plan <br /><ul><li>  A...
Tactical Plan</li></ul>  -  Target markets<br />  -  Strategic Suggestion<br /><ul><li>  Implementation, Control, and Eval...
  conclusions</li></li></ul><li>Introduction<br /><ul><li>  Background Information</li></ul>-  Currently -3% of Manhattan ...
Introduction<br /><ul><li>Issue and Purpose of the Plan
  Problem
   The real estate industry is struggling through this     </li></ul>   economy. Commercial real estate agencies have prov...
Analysis<br /><ul><li>  Economy</li></ul>- 10.3% and growing unemployment rate in NYC<br /> -  New York real estate prices...
Analysis<br /><ul><li>New York Real Estate market
  Increase in Market Size</li></ul> -  NYC is the 3rd most popular destination in the country for <br />    recent college...
Analysis<br /><ul><li>New York Real Estate market
  Vacancy</li></ul> -  New listings increasing while fewer contracts being signed<br /> -  3% of Manhattan’s office space ...
Analysis<br /><ul><li>New York Real Estate market
  Changing Trends </li></ul>-  Neighborhoods increase and decrease in popularity <br />    affecting price<br /> -  ‘NoHo’...
Analysis<br /><ul><li> New York Real Estate market
   Agents</li></ul> -  New York Real Estate market has many players like Halsted,   <br />   Christies, Manhattan Connecti...
Analysis<br /><ul><li> New York Real Estate Consulting Firm</li></ul>Consulting for Urban Real Estate<br />
Marketing Strategies<br /><ul><li>Statement
  Vision Statement</li></ul> -  Bringing “REALITY” to New York City Real Estate.<br /><ul><li>  Mission Statement</li></ul...
Analysis<br /><ul><li>Client : Citi  Habitats
  Alternative Services</li></ul> -  offerings: CHMG, CitiHabitats Relocations, <br />                            CitiHabit...
Analysis<br /><ul><li>Client : Citi  Habitats
  Size
  6,400 rental listings and 300 sales listings
  Of New York Times listings Had:</li></ul>   22% of current rentals and 3 % of current sales <br /><ul><li> Relationships...
Objectives<br /><ul><li>Marketing Plan
 Branding </li></ul> <br /><ul><li> Strategic Relationships</li></ul> <br /><ul><li> New Venture Opportunities  </li></li>...
 Branding
  Brand Image/Identity alignment
Make Citi-Habitat more distinguished as Market Leader
Align with 22% of rentals
  Graphic/Web design/Brochures (literature/media, etc)
Add Color to Blue&White theme
Trend awareness
Create customer loyalty, 50% repeat business
Advertising expansion
Open advertising to 25% more venues</li></li></ul><li>Objectives<br /><ul><li>Marketing Plan
 Strategic Relationships
PR
100% awareness brand and services
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FoundationNYC

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FoundationNYC

  1. 1. Consulting for Urban Real Estate<br /> + Alyssa Green (GreenA85@newschool.edu) <br /> + Anna Joyce (JoyceA83@newschool.edu)<br /> + JiYoun Kim (kimj602@newschool.edu)<br />
  2. 2. Contents<br /><ul><li> Introduction </li></ul>- Background Information, Issues and Purpose of our plan <br /><ul><li> Analysis </li></ul> - New York Real Estate<br /> - FoundatioNYC<br /><ul><li>Objectives</li></ul> - Branding <br /><ul><li> Strategic Relationships</li></ul>- New Venture Opportunities <br /><ul><li>Marketing Strategies
  3. 3. Tactical Plan</li></ul> - Target markets<br /> - Strategic Suggestion<br /><ul><li> Implementation, Control, and Evaluation
  4. 4. conclusions</li></li></ul><li>Introduction<br /><ul><li> Background Information</li></ul>- Currently -3% of Manhattan offices are vacant*<br /> - increase of short term leases with landlords*<br /> - average rent on 5th avenue is $580 per square foot, <br /> (Disney's flagship recently closed their store there <br /> because it was too expensive)*<br />*from www.nymag.com<br />
  5. 5. Introduction<br /><ul><li>Issue and Purpose of the Plan
  6. 6. Problem
  7. 7. The real estate industry is struggling through this </li></ul> economy. Commercial real estate agencies have proven to be <br /> outdated and are unable to adapt to the recession. <br /><ul><li> Argument</li></ul> - The economic situation offers a unique opportunity for agencies to build an improved brand in order to establish new venture opportunities and strategic relationships. <br /><ul><li> Purpose of the Plan</li></ul> - Industry: Real Estate <br /> - Services: Branding, promotions, strategic relationships, <br /> product & service design,<br />New Venture Opportunities<br /> - Client: Citi-Habitats<br />
  8. 8. Analysis<br /><ul><li> Economy</li></ul>- 10.3% and growing unemployment rate in NYC<br /> - New York real estate prices are on average much greater <br /> than other US cities:<br />Economy mirrors the price of rents and sales<br />
  9. 9. Analysis<br /><ul><li>New York Real Estate market
  10. 10. Increase in Market Size</li></ul> - NYC is the 3rd most popular destination in the country for <br /> recent college graduates<br /> - 355,000 more NYC inhabitants since 2000, 4.4% increase<br />
  11. 11. Analysis<br /><ul><li>New York Real Estate market
  12. 12. Vacancy</li></ul> - New listings increasing while fewer contracts being signed<br /> - 3% of Manhattan’s office space is vacant<br /> - Increase of short term leases<br />
  13. 13. Analysis<br /><ul><li>New York Real Estate market
  14. 14. Changing Trends </li></ul>- Neighborhoods increase and decrease in popularity <br /> affecting price<br /> - ‘NoHo’ average sales price increased to 81.5% & price per <br /> square foot increased 55.7% in September 2009<br /> - Reputable Upper East Side’s average sale price <br /> decreased 34%<br /><ul><li> Nature of the Industry</li></ul>- Real Estate constantly growing<br /> - 28 completed developments and 3 current projects<br /> - There are more than 60 new buildings currently on the <br /> market in NYC<br />
  15. 15. Analysis<br /><ul><li> New York Real Estate market
  16. 16. Agents</li></ul> - New York Real Estate market has many players like Halsted, <br /> Christies, Manhattan Connections, Apts and Lofts, <br /> Prudential, etc.<br /> - No Fee Apartment Agents: Craigslist, No Fee Rentals, <br /> Rent Direct, Naked Apartments, Rent-Directs<br /> - New York real estate laws prevents sharing of commission <br /> to discourage bribery and unlawful acts that create <br /> an unfair advantage<br />
  17. 17. Analysis<br /><ul><li> New York Real Estate Consulting Firm</li></ul>Consulting for Urban Real Estate<br />
  18. 18. Marketing Strategies<br /><ul><li>Statement
  19. 19. Vision Statement</li></ul> - Bringing “REALITY” to New York City Real Estate.<br /><ul><li> Mission Statement</li></ul> - At FoundatioNYC, we seek to guide real estate agencies to <br /> utilize NYC spaces to its fullest potential; achieved <br /> through building brands, expanding relationship, and <br /> capitalizing on new opportunities in order to strengthen <br /> our clients’ positions in the market. FoundatioNYC aims to <br /> give every square foot to one of the world’s most <br /> important cities, for the benefit of every New Yorker. <br />
  20. 20. Analysis<br /><ul><li>Client : Citi Habitats
  21. 21. Alternative Services</li></ul> - offerings: CHMG, CitiHabitats Relocations, <br /> CitiHabitats Outreach, <br /> Citihabitats Furnished<br /> - Mission: Citi Habitats pledges to offer each and every one <br /> of our customers, clients, and associates the <br /> utmost in personalized service. An industry leader <br /> for more than a decade, we are dedicated to <br /> honesty, integrity, and professionalism to deliver <br /> the best possible results.Not only sales and <br /> rentals but also, Citi Habitats do marketing, <br /> relocation, outreach, furnished and settling-in.<br />
  22. 22. Analysis<br /><ul><li>Client : Citi Habitats
  23. 23. Size
  24. 24. 6,400 rental listings and 300 sales listings
  25. 25. Of New York Times listings Had:</li></ul> 22% of current rentals and 3 % of current sales <br /><ul><li> Relationships</li></ul>- Provide employees with training that exceeds <br /> the legal requirements of a real estate agent<br /> - Size of listings reflect relationships with numerous <br /> landlords and amount of employees<br /> - Owned and operated by NRT LLC. which also own Coldwell <br /> Banker, Sotheby’s, The Corcoran Group, etc that in total <br /> have 800 sales offices, 5,700 employees and 48,000 sales <br /> associates <br />
  26. 26. Objectives<br /><ul><li>Marketing Plan
  27. 27. Branding </li></ul> <br /><ul><li> Strategic Relationships</li></ul> <br /><ul><li> New Venture Opportunities </li></li></ul><li>Objectives<br /><ul><li>Marketing Plan
  28. 28. Branding
  29. 29. Brand Image/Identity alignment
  30. 30. Make Citi-Habitat more distinguished as Market Leader
  31. 31. Align with 22% of rentals
  32. 32. Graphic/Web design/Brochures (literature/media, etc)
  33. 33. Add Color to Blue&White theme
  34. 34. Trend awareness
  35. 35. Create customer loyalty, 50% repeat business
  36. 36. Advertising expansion
  37. 37. Open advertising to 25% more venues</li></li></ul><li>Objectives<br /><ul><li>Marketing Plan
  38. 38. Strategic Relationships
  39. 39. PR
  40. 40. 100% awareness brand and services
  41. 41. Collaborations
  42. 42. Take on at least 1 new project a year outside of real estate
  43. 43. - Donations/Sponsorships
  44. 44. Community outreach besides charity benefits</li></ul> <br />
  45. 45. Objectives<br /><ul><li>Marketing Plan
  46. 46. New Venture Opportunities </li></ul> - Services Refinement/New Service Offerings<br /> - 25% increase in promotion and use of alternative services<br /> - Distinguish in sales market<br /><ul><li>“Space Matching” (Vacant Space Use)
  47. 47. Use at least 5% of loyal landlord’s vacant space to connect to local artists and artisans </li></li></ul><li>Marketing Strategies<br /><ul><li>Strategies based on SWOT</li></li></ul><li>Marketing Strategies <br /><ul><li>Porter’s five force model of competition</li></ul>Potential development of <br />substitute products :<br /> craigslist<br />↕<br />Bargaining power of consumers:<br />lower the rent, <br />get one month free<br />No fee agents<br />Rivalry among competing firms:<br />Corcoran<br />Halstead Property<br />Bargaining power of suppliers:<br />landlords are so desperate to rent their stuff <br />↔<br />↔<br />↕<br />Potential entry of new competition :<br />web-based companies<br />
  48. 48. Marketing Strategies <br /><ul><li>Barriers and probability</li></li></ul><li>Corporate Level Strategies<br />
  49. 49. Tactical Plan<br /><ul><li>Diversification: Use of Vacant Space</li></ul> There is a flux in empty stores and restaurants in NYC due to the economy. Rather than letting these spaces sit vacant, Citi-Habitat will lease some of these spaces for a period of one year as the market restores itself. During this year, Citi-Habitats will offer this space for monthly leases to up-and-coming chefs, designers, and more, in the form of pop-up stores. This service is not only to bring life to empty spaces within the city, but to build relationships with young talent who could someday potentially become clients of Citi-Habitat.<br />
  50. 50. Tactical Plan<br /><ul><li>Diversification: Use of Vacant Space</li></li></ul><li>Tactical Plan<br /><ul><li> Product Development</li></ul> There is a common perception that real estate brokers are untrustworthy and out for your money. Renting or buying and apartment is a big investment with a high risk. Therefore, people need to feel comfortable with the location of their new home, as well as the broker who helps them find it. A “What neighborhood do you belong in?” quiz on the Citi-Habitats website will help clients get to know neighborhoods, and perhaps look in locations they otherwise would not have considered. “Facebook” style profiles will be developed to help humanize the brokers in the eyes of the client by showing their personalities what they have to offer. <br />
  51. 51. Tactical Plan<br /><ul><li>Product Development</li></li></ul><li>Tactical Plan<br /><ul><li>Product Development</li></li></ul><li>Tactical Plan<br /><ul><li> Market Development</li></ul> Citi-Habitats has achieved success within New York through large listings and a wide array of services, so its time to expand their expertise into other cities where real estate is a competitive and opportunistic industry. Citi-Habitats LA and Citi-Habitats Chicago will offer other US cities the chance to work with this knowledgeable firm. Citi-Habitats’ new loctions will fully establish themselves to serve each city individually, but will also be ideal for people who are looking to be bi-costal, find a vacation home, or relocate. <br />
  52. 52. Tactical Plan<br /><ul><li>Market Development</li></li></ul><li>Tactical Plan<br /><ul><li>Market Development</li></li></ul><li>Tactical Plan<br /><ul><li> Market Penetration</li></ul> Citi-Habitats is already accessible to college-aged students due to its moderate price range. This presents the perfect opportunity to expand on this market and gain more loyal customers. By targeting and heavily advertising in and around universities, Citi-Habitats can be present among a market who is looking to rent their very first apartment. By making their first experience a good one and gaining early loyalty, it ensures returning clients for Citi-Habitats many years to come. By providing them with realistic expectations for their budget through visuals and information, students will gain trust in the firm.<br />
  53. 53. Tactical Plan<br /><ul><li>Market Penetration</li></li></ul><li>Implementation, Control, and Evaluation <br /><ul><li> BCG Matrix </li></li></ul><li>Implementation, Control, and Evaluation <br /><ul><li>Internal External Factor Matrix</li></li></ul><li>Implementation, Control, and Evaluation <br /><ul><li>Internal External Factor Matrix</li></li></ul><li>Implementation, Control, and Evaluation <br /><ul><li>Internal External Factor Matrix</li></li></ul><li>Implementation, Control, and Evaluation <br /><ul><li>Internal External Factor Matrix</li></li></ul><li>Implementation, Control, and Evaluation <br /><ul><li>Internal External Factor Matrix</li></li></ul><li>Implementation, Control, and Evaluation <br />
  54. 54. Conclusion<br /><ul><li> Real Estate Market
  55. 55. Holds many threats and opportunities
  56. 56. Vacant StoreFronts
  57. 57. Competition
  58. 58. Volatile trends
  59. 59. Citi-Habitats
  60. 60. Many Strengths and Few Weaknesses
  61. 61. Brand Alignment
  62. 62. New Ventures
  63. 63. Strategic Relationships</li></li></ul><li>References<br /><ul><li> http://www.citi-habitats.com/
  64. 64. http://www.trulia.com/real_estate/New_York-New_York/
  65. 65. http://www.usdoj.gov/atr/public/real_estate/newyork.htm
  66. 66. http://www.nyc.gov/html/dcp/html/census/popcur.shtml
  67. 67. http://online.wsj.com/article/SB10001424052748703787204574442912720525316.html
  68. 68. http://www.corcoran.com/
  69. 69. http://www.apartments.com/NewYork</li>

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