Stan Ponte knows the market in New York, having served its elite for two decades. Quest chats with the real estate expert about what the city has to offer in luxury:
Q: Who is the ultra–high net worth (or “UHNW”) buyer?
SP: I am fortunate to be a broker in Manhattan, which attracts more ultra–high net worth individuals than any other market in the world. Primarily, these buyers are from the worlds of finance, technology, pharmaceuticals, and entertainment.
Q: What is the “UHNW” buyer looking for?
SP: This is a very individual question, as everyone has their own unique criteria for lifestyle and priorities. (Some of my technology clients put a high premium on privacy and are not looking for a trophy but, rather, something understated with clean aesthetics.) That said, one constant is a “forever view” as the continued growth of new skyscrapers is changing the panoramas of the city. Apartments in prominent, prime locations with unobstructed views are desirable and carry a hefty premium.
Q: What are the “hot” neighborhoods for the “UHNW” buyer?
SP: “Location, location, location” is one of the truest phrases in real estate. Fifth Avenue and Park Avenue are not giving up their claims as the epitome of New York luxury, but they’re being joined by the newly coined “Billionaire’s Row” on 57th Street as well as downtown neighborhoods such as Madison Square Park, The Highline, West Village, and the Gold Coast of “lower” Fifth Avenue. What’s next? The revitalization of FiDi and the massive construction at the up-and-coming Hudson Yards.
Q: What distinguishes you from other firms?
SP: I’m only as good as the company I keep and, by choosing to be affiliated with Sotheby’s International Realty, I offer my clients 20 years of Manhattan expertise. Additionally, I have modeled my business to reflect the same high level of service that my clients expect from their private bankers and financial advisors. My goal is simple: I want to be regarded as a long-term real estate advisor, which means that I’m focused on the relationships that are built based on trust, professionalism, and respect with my clients as well as their friends and families. We call this practice “Generational Transactions.”
For more information, contact Stan Ponte of Sotheby’s International Realty at 212.606.4109 or firstname.lastname@example.org.