Our interview with co-founders Kenneth J. Moore and Loy Carlos of Classiques Modernes Lifestyle & Estates, once again enters the world of multimillion dollar luxury real estate as Executive Global sit down, the prolific real estate professionals successfully representing, selling and leasing New York City and Connecticut’s finest luxury apartments, lofts, townhouses and estates to affluent and discerning clientele.
EG: You have managed and marketed some of the most majestic townhouses, ultra-luxurious spaces and iconic buildings in New York City. What would you say it is that makes New York City such an attractive location for homeowners?
CM: Our clientele base is global. And when we ask what it is about New York that particularly attracts them, a vast majority say “its energy.” Every corner of the world has a beautiful place. New York City thrives on its people’s spirit. It’s a place of hope and dreams, where life is not easy, but anything is possible. It is competitive, it can be harsh and unforgiving, the grind is constant and real. Still, people manage to remain positive.
EG: When serving the needs of high net worth individuals, confidentiality and discretion can be incredibly important. What is it about your approach that makes you so successful?
CM: Clarity of purpose and vision. Whatever situation we find ourselves in, whether during negotiations, in client representation, or managing our elite clients’ portfolio of properties, our clients’ best interest is our guide. Steadfast, it makes decisions and strategies much easier to make. Success is impossible without purpose. Without a goal, you’re just shooting balls in air.
EG: What are the inherent advantages in having Classiques Modernes function as a ‘one stop-shop’ for property management where investors are concerned?
CM: Our company and clientele look at real estate and lifestyle as one.Whether a mansion, estate, building, a trophy penthouse—all are inherently about how people live. That’s the human side of the equation--lifestyle. But these are also financial investments. Whereas transactional brokerage only come at the beginning and end, the management services we provide connect the dots. Our clients find it useful because we are there for the initial vision, the disposition, and everywhere else in between. They know that we are there to help them make the right decisions because, ultimately, we will have to deal with all issues.
EG: Set on 150+ acres with breathtaking views in addition to the impressive 7,000 sq. ft luxury mansion, Glen Brook Farm Road is an exquisite property- but what opportunities are on offer for expansion? What should property investors look out for?
CM: In terms of the property itself, there is much that one can still do to develop it. It is a west-facing lot, which is great for agriculture. Woods have been preserved as a natural habitat for flora and fauna. One can still add other amenities like indoor riding and equine training facilities; or recreational amenities like dirt bike tracks, tennis courts, indoor and outdoor swimming pools, etc. The land can also be subdivided into as many as ten lots. And because Sherman hasn’t been overly marketed yet unlike other towns in New York and Connecticut, prices still are much lower in comparison. As attention increases, we expect the value of property to increase as well.
EG: What additional benefits does this listing uniquely provide to prospective buyers as a result of being surrounded on three sides by Land Trusts? And being subject to Public Act 490, how may this property offer greater long-term tax advantages when compared to real estate in other locations?
CM: Taxes are several times higher for the same size land in more popular places in Upstate New York, in Long Island or other parts of Connecticut. In addition to that, however, an owner may decide to donate use of portions in conjunction with the Land Trust and obtain further tax benefits.
EG: What is the biggest real estate deal you have ever closed and what factors led to your success in accomplishing this transaction?
CM: While we have sold over US $1 billion in luxury apartments, town houses, mansions and estates, many at record breaking prices during our collective half a century in real estate, we regularly sign confidentiality agreements for our deals. Confidentiality is very important to our clients, and that serves as the primary foundation of our business and relationships.
EG: In all the transactions you have successfully closed, what factors remain consistently evident in the successful sale of a home at the maximum asking price?
CM: Creativity, ability to navigate the ever-changing market, skilful negotiations and old-fashioned hard work. There is no short cut to success, there is no miracle marketing that can make people buy properties that they do not want or cannot afford. It is always a good idea to have the right perspective, to put everything in true context, and plan strategies accordingly.
EG: With a well established reputation and successful track record having represented the finest properties New York City has to offer, what can wealthy clients expect when working with you?
CM: Experience, diligence, service, efficiency, trustworthiness, discretion. EG