Paula Del Nunzio has been representing top New York properties for 17 years. Known for her attention to historical detail, the one-time advertising exec has sold some of the most impressive homes in the city over the past several years. One of these, The Harkness Mansion, sold for $53 million in late 2006, which set a record for the highest price ever paid for a home in Manhattan. Who's Who spoke with Del Nunzio about what makes a property special enough to boast such a price tag.
You've been working in New York real estate for 17 years, but before that you were in advertising. Does your background affect the way you do business?It certainly affects the way I market real estate and it's exceedingly beneficial. My background allows me to build a unique brand positioning for each property in a way that typical brokers may not be able to because they're not familiar with those kinds of concepts.
How do you decide what properties to represent?I seek them out. I'm always looking for the best property of its kind, whatever it is. Be it a townhouse, penthouse, cooperative or condominium, it has to be the best. That's my criteria.
One of the properties you're representing is the Henry T. Sloane mansion on E 68th Street, which is listed at $64 million. What drew you to that property?When I approach a property I'm always looking for that one special detail. In this case what really excited me is that when I toured the building, I found the interior had five rooms that were still intact as originally placed there in 1905. In every other major building like this I've dealt with the interiors had been stripped.
What's key to moving a property like this?What I spend a lot of time with with all my properties is research. I research the property so I can present its provenance in a way that will attract to it the buyers that would want it and would want it so much they'd pay a premium for it.
Has the tanking financial markets made it difficult to find buyers for these elite properties?The thing is the real estate market does not react at the speed of the financial markets. It doesn't fall drastically between a Monday and a Tuesday. It's going take six-to-twelve months for the full impact of the financial markets to be felt.
What do you think the effect will be?A crystal ball I absolutely do not have. In New York we've always had a wide range of different kinds of people and families that want property here. Any truly unique property will find a buyer no matter the market conditions.
You've been described as having a deep interest in historical preservation. Tell me about that?If you work in townhouses it's a natural fit to be interested in historical preservation and in architecture and in the various movements that shaped the housing stock that you find in Manhattan.
Do you have a favorite period for New York architecture?Actually, no. I think the turn of the last century was a great period and a lot of fantastic homes were built through until 1929. But then again some amazing homes have been built since then.
You've lived in several different cities, including LA, London and Hamburg. How is New York different?New York is the center of it all. LA may be the center of the film business, but New York brings together all different people and different industries. It truly is the financial and cultural capital.
While in LA – before you got involved in real estate-- you wrote some movie teasers. Any we might have seen?I did the teaser for The China Syndrome and also Midnight Express. I also did several TV commercials. Each gave me an opportunity to learn a business and become conversant in new markets, whether it was blue jeans or Barbie dolls.
So you have worked in a variety of fields. Are there any plans for "life after real estate?"No. Real estate is my profession and my passion. I don't plan on doing anything else.
What's your favorite part about your job?I guess just finding the absolute top price for a property. It's exceedingly gratifying to the seller and it's exceedingly gratifying to me.
What do you do to relax?I read books. I like books on architects and books on private landscapes and gardens. Right now, I'm reading about the modernist gardens of Southern California. I also like biographies.
Any biography recommendations?I enjoyed Theodore Rex, which is about Teddy Roosevelt.
Paula Del Nunzio is Sr. VP, MD Brown Harris Stevens
