Pamela Liebman is president and chief executive officer of The Corcoran Group. The firm serves New York, the Hamptons and South Florida, all places Ms. Liebman calls home.
Ms. Liebman, who’s been in her role since 2000, has helped expand the brokerage’s coverage, founded Corcoran Group Marketing, a new-development marketing firm and acquired both the Sunshine Group, also a new-development marketing group, and Citi Habitats, another New York City brokerage known largely for its rental agents.
We caught up with Ms. Liebman to discuss the upcoming Hudson Yards project, which Corcoran is running sales and marketing for, the never-ending appetite for luxury real estate and more.
Mansion Global: Describe your dream property.
Pamela Liebman: My dream property is a comfortable, spacious and well-designed home that combines indoor and outdoor seamlessly.
It has high ceilings, lots of windows and is so attractive my kids can’t stay away.
MG: Do you have a real estate property that got away?
PL: Yes, I had an opportunity to invest in a retail property on Madison Avenue 20 years ago and didn’t do it.
MG: What does luxury mean to you?
PL: Luxury is having the freedom to spend time with my family and friends doing the things we really enjoy—travel, golf, relaxing at the beach.
MG: What area do you think is the next hub for luxury properties?
PL: Hudson Yards. It is a totally new neighborhood in Manhattan that will be a hub for so much—culturally and socially, with incredible retail and dining opportunities and with a full range of extraordinary luxury homes to choose from.
MG: What’s the biggest surprise in the luxury real estate market now?
PL: How the market for super luxury properties continues to grow, with domestic and foreign buyers who have really deep pockets when it comes to extraordinary real estate.
MG: Where are the best luxury homes in the world and why?
PL: The best luxury homes are where you can live who you are. So it really comes down to where you want to be. For me, the best luxury residences are in Manhattan, in the Hamptons and in South Florida.
I believe these three locations offer the trifecta of luxury living: a global city and all it has to offer, a convenient weekend and summer getaway with some of the most beautiful beaches in the world and a tropical location where one can escape colder climates and enjoy a very sophisticated yet laid-back, lifestyle.
MG: What’s your favorite part of your home?
PL: For me, it’s always about the outdoor living space. At my beach house, it could be sitting by the outdoor fireplace on a cool night; in Miami, lounging on the terrace with my husband; or cocktails on the terrace of my Manhattan apartment enjoying the New York skyline–there’s nothing like it anywhere. It never gets old.
MG: What best describes the theme to your home and why?
PL: Warm, comfortable and welcoming. And very, very neat!
MG: Most valuable thing in your home?
PL: My collection of family photos—I smile each time I see them because they keep me balanced and happy.
MG: What’s the most valuable amenity to have in a home right now?
PL: It’s two things: having outdoor space and lifestyle amenities such as a great gym.
MG: What’s your best piece of real estate advice?
PL: Don’t be afraid to stretch. Buy the best property in the best location you can afford.
MG: What’s going on in the news that will have the biggest impact on the luxury real estate market?
PL: Tax reform.
MG: What is the best area now for investing in luxury properties?
PL: Any area that still feels gritty today is worth taking note of, especially if it has easy access to transportation.
MG: If you had a choice of living in a new development or a prime resale property, which would you choose and why?
PL: I love new—I like big, open spaces with large windows and great amenities. That said, there are few new development properties that can best a building with a premier Manhattan address, a great pedigree and park views.
MG: What area currently has the best resale value?
PL: Fifth Avenue always has great resale value and properties with views of Central Park are always in demand.
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