Case Studies in Real Estate Marketing

By White, Janet | Journal of Property Management, November-December 1989 | Go to article overview

Case Studies in Real Estate Marketing

White, Janet, Journal of Property Management

Case Studies in Real Estate Marketing Most people are only vaguely aware that companies like Procter & Gamble, General Foods, Chrysler, and Fruit-of-the Loom spend hundreds of millions of dollars each year to market their products to a fickle public.

While a block of office space or a new condominium is not exactly a bar of soap, the basic concepts of consumer goods marketing are being increasingly applied to real estate.

"Regardless of the nature of the project, the most important thing in real estate marketing is to have a clearly defined strategy," says Arthur Lohman, president of The Lohman Organization, one of New York's leading real estate advertising/marketing concerns.

Lohman says such a strategy has three steps: defining the audience, analyzing the competition, and determining the project's positive and negative attributes. Once the research is finished, Lohman says, the project can then be positioned with respect to the marketplace and the competition. Only then should the most visible steps in the marketing process--the brochures, advertising, models, sales offices, parties, and public relations--be placed into motion.

None of this work is inexpensive. Industry experts say that in cities like New York, Chicago, and Los Angeles, office building owners typically budget between $1.25 and $1.50 per square foot of building area for marketing, exclusive of broker commissions. For large residential projects, the range is usually between 3 and 5 percent of sales.

How these resources are allocated differs with every situation. The decision of how much should be spent on what medium for how long is usually the result of a combination of professional judgement, personal tastes, and budgetary discretion.

In examining marketing programs across the country, our interviews found that while their situations differed radically, all of them applied the same basic elements of "strategic marketing" to their leasing programs.

The Corinthian, New York City

In this city of rectangular edifices of glass and steel, the Corinthian's 180-degree bay windows make this 57-story residential tower at 330 East 38th Street one of Manhattan's most memorable.

Designed as a super-luxury, The Corinthian towers over a former airlines terminal building in the posh Murray Hill neighborhood near the United Nations. When it opened in the fall of 1986, the building competed against 30 other luxury condominiums in midtown, which were also targeted to wealthy buyers.

According to Jane Gladstein, vice president of marketing and sales for M.J. Raynes, Inc., the building's marketing agent, the Corinthian's size was its biggest problem and one of its best qualities.

"Many people do not want to live in a building that has 863 units, so we decided to turn its size into an asset. We made sure that everything was done on such a grand scale that no other building in the city could touch us."

One of the most common amenities in New York condominium buildings is a health club, but these usually have little more than an exercise room or a standard-size pool.

The 12,000-square-foot Corinthian Club features a 50-foot, glass-enclosed pool, separate whirlpool, gymnasium, aerobic warm-up rooms, saunas, steam rooms, changing facilities for men and women, and indoor and outdoor play areas for children, not to mention the juice bar and the landscaped, outdoor jogging tracking (with seven laps to the mile). Gladstein notes that the Corinthian's huge, private health club became a key selling point to buyers.

"The building was positioned as something that was going to have everything on a grand scale," Gladstein says," and that, coupled with the curveaway, or serpentine, architecture of the building, really set the tone for the marketing program."

Gladstein says buyers fell into three categories:

* People between 30 and 50 years old, most of whom already lived and worked on the East Side of Manhattan. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Cite this article

Cited article

Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25,

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Case Studies in Real Estate Marketing


Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25,

    New feature

    It is estimated that 1 in 10 people have dyslexia, and in an effort to make Questia easier to use for those people, we have added a new choice of font to the Reader. That font is called OpenDyslexic, and has been designed to help with some of the symptoms of dyslexia. For more information on this font, please visit

    To use OpenDyslexic, choose it from the Typeface list in Font settings.

    OK, got it!

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search


    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.