Guberman is known for his ability to see the promise of a neighborhood, well before real estate trade rags label it “up and coming” or “hot.” He personally started the movement to Clinton Hill, followed by Greenpoint, which, as he says, is now “white hot with everyone from Magic Johnson to major developers following in our footsteps!” He can claim success in his projects because he respects the neighborhoods, bringing in buildings that not only raise the level of living, but also mix well with those already in existence, as opposed to erecting structures that stand out like an architectural curiosity. “[My buildings in Greenpoint] keep with the historical vision of the neighborhood,” he explains. “I wasn’t coming in with exotic glass structured buildings in a neighborhood that was very old and entrenched in its heritage and traditions. So the projects were very well received by both existing residents and the broad influx of new buyers.”
In all, Core helped transform Brooklyn into the trendy, well-received borough that it is today, allowing it to become a hip place to live with ideal structures fit for the use of urbanites that reside out of Manhattan. “Core Development Group has really made its mark by going into neighborhoods that welcome them. The proof is that every single area we’ve gone into where we have been the first developers, such as Greenpoint and Bushwick, we have been followed by multiple developers who are now selling their units for fifty to two hundred percent more than what we started out at.”
Now, this dynamic developer is tackling the ever-changing landscape of Manhattan, with three projects underway. Legacy, personally designed by Costas Kondylis, is made of seven “homes”, as opposed to units or apartments, with several that are over five thousand square feet and grand in scale. “This is prime Upper East Side,” says Guberman. Core Development Group has taken a very well-built garage structure and masterfully converted it into a highly stylized, modern yet warm building with prices ranging from $5 to $12 million. These homes come complete with every imaginable amenity, including a full Creston professional entertainment system pre-installed with HDTV Plasma televisions ranging in size from 42 to 60 inches! Guberman laughs, “All you have to do is bring your furniture and you can move in as all details have been carefully thought through and executed!” More importantly, despite the deluxe finishes, building wide amenities and fine craftsmanship, the prices at Legacy are launching at $1,250 to $1,700 per square foot, well under market for comparable projects in the area.
Core is also the force behind LUX 74, a new development that is set to bring the luxury concept to an affordable price, with units starting at $600,000 and averaging $1,100 per square foot. The building will include a doorman, garden rooftop, and fitness room, all for what is considered an entry price point. “The goal is to start a new trend, which is providing high value combined with prime locations, upscale amenities, fine design, and extraordinary quality,” Guberman says.
Union Square Lofts, yet another CDG development, is designed as an exclusive enclave of luxury living, with two separate buildings. In fact, the Douglas Elliman brokerage team that handled the project exclusively offered glowing praise for Guberman’s approach. “We have had years of experience working with various developers, but Josh has an eye for projects that is difficult to match,” says Lisa Maysonet of Group Maysonet. “He is one of the most innovative developers around, with a level of sophistication that is second to none.”
This sophistication shines through in the project at Union Square, which is once again raising the level of construction excellence for an entire neighborhood, and being followed by projects like 8 Union Square South which is raising the price points in a way that will benefit the area as a whole. The north building has four full-floor lofts with 11 to 13-foot ceilings, outfitted with the finest finishings and technology that one would expect in a project off 5th Avenue. The south building is also outfitted with the Sub Zero, Miele, and Viking appliances and offers only the best amenities, including thermostatically controlled warm floor systems, integrated professional grade audio/video systems, stone and tile imported from Italy, state of the art security systems, and GE Profile climate controlled wine refrigerators, stocked with two cases of complimentary wine from Crush Wine and Spirits, yet another of Guberman’s ventures.
“Crush is a labor of love,” he says. This love has blossomed into a multi-million dollar business, as they were named Food & Wine magazine’s best wine shop in America, a title they still hold. The business is a collaboration with friends Drew Nieporent of Myriad Restaurant fame (Nobu, Montrachet, and Tribeca Grill) and Bobby Schagrin, who also works with Guberman at CDG. The concept is a user-friendly approach to wine. “Wine can be intimidating to some,” says Guberman. “The concept at Crush was to build an extraordinary store visually, with a large, spacious, luxurious tasting room, where we literally pour wine gratis all day.” The goal is to have customers learn about wine, and understand what their palate likes and dislikes. “My philosophy on wine is that the wine you enjoy and that tastes good to you is good, regardless of price,” he explains. “If your taste buds say, ‘I like that wine,’ that is what you should be drinking.”
Crush now bridges the gap between Guberman’s two businesses. “Most of the people who buy units in our developments, because of the price of our residences, typically enjoy wine or are engaged in the wine culture. We give them a hand-picked two case starter cellar, a professional grade wine storage unit, and unlimited service for cellar building consultation.”
He explains, “Once you are in a Core Development Group project, you are also part of the Crush family.” This is a family that prospective buyers in the New York marketplace should be proud to be a part of. As Guberman says, “It is all in the details”. A study of his successful ventures and the substantial positive reviews his businesses have received in their respective industries clearly show, he truly cares about both the details and the final outcome.
News
May 28, 2007Tough Bullock: Janna Bullock
