Good light, good views, good numbers. (Eileen Hsu)

An attractive young woman in a dark pantsuit is pacing the edges of demolished urban lot, chanting quietly and gently tossing grains of vodka-soaked rice while development executives looked on appreciatively, smiling beneath their ceremonial hard hats as an ancient ritual is performed on the site of their newest project.

If the scene sounds bizarre, it is also almost surely a glimpse into the future of New York City real estate

“Everyone can benefit from good energy,” said Eric Benaim, President of Modern Spaces, whose company has enlisted the services of “Certified Feng Shui Consultant” Laura Cerrano of Feng Shui Long Island to advise them on every facet of the design and construction of Vista Court, a 15-story residential building on Purves Street just south of Northern Boulevard. But while Mr. Benaim might very well be correct, every trend in city real estate would point to the fact that Modern Space’s decision to feng shui its newest project is being made with explicit intent to attract the most sought after buyer in today’s market; the Chinese.

Roughly $30 billion was invested in New York City real estate during the last year alone, making it the premier city in the world in that category, outpacing London, Tokyo, Paris and Hong Kong. A vast amount of that investment capital came from overseas, with European, Pacific Rim and South American investors, but Chinese investors are widely believed to be leading the way.

According to the United States Bureau of Labor Statistics, since 2001 the relative value of the Chinese Yuan to the US dollar posted an increase of almost 23%, a figure that demonstrates both the plummeting buying power of the U.S. economy and the surging power of Chinese consumers. Simply put, New York City has never come cheaper to a foreign investor like it does now to the Chinese.

“International buyers keep our market alive,” says Amy Williamson, Vice President of sales for Prodigy Network, an international real estate company. “Whether it’s welcomed locally or not, it’s a fact of this global economy.”

What has become important is the skill set required to attract, understand and better serve the potential Chinese buyers that are in the market, flocking to New York in droves. Those skills are especially important in a market as deep and convoluted as New York City’s, where even lifelong locals have found themselves lost in the sheer volume of geographic choices and uniquely local, bureaucratic minutiae.

“New York City has always been a favorite of Asian Investors, like the Japanese in the 80’s and so forth,” explains Michael Chen, an Asian market specialist at real estate firm BOND New York.

Mr. Chen is referring to the boom of Japanese investment into New York City real estate during the 1980s and early 90s that was characterized by the 1989 purchase of a 51 percent interest in Rockefeller Center for $846 million (in cash) by the Tokyo-based Mitsubishi Estate Company, a deal that set off a mini-panic for those in fear of Japan’s growing comparative power.

Although that era of anxiety dissipated as the American economy rebounded (Rockefeller Center was re-acquired in 1995 by a partnership led by David Rockefeller and Goldman Sachs), the New York City real estate market continued to rely rather heavily on investment from foreign buyers, especially from Europe, where the climbing value of the newly-minted Euro made Big Apple pied-a-terres a “must have” for wealthy jetsetters

“International buyers have been an enormous part of the New York real estate for decades,” agrees Ms. Williamson who pointed to the positive sustaining force that European buyers have had on SoHo since the late 1980’s.

The spotlight that formerly shone brightest on the European purchaser of pied-a-terres has been filled by the Chinese buyer—buyers who have not so much stepped forward to steal attention and sale but rather who have had that spotlight thrust upon them as the European actor stepped back from the spotlight in the face of financial collapses in Greece, Spain, Ireland and other members of the “Eurozone.”

“These Asian investors aren’t suddenly buying that much more, the global economy just changed the numbers to show a dramatically greater amount of them,” Mr. Chen said.

But whether it is an illusion by comparison, or a full-scale stepping up of investment activity, the hard reality is that Chinese buyers are a dominant force in the New York City real estate market. Brokers throughout the city are learning daily what Chinese buyers want most and doing everything they can to offer it, putting the most appealing bow on that most au courant Chinese status symbol—a Manhattan luxury condo.

“People in China can’t buy financial products, so when the people who make money there look immediately to real estate outside China,” he explains. “There just aren’t a lot of other things for them to buy.

And both Mr. Chen and Ms. Williamson agree that the ability to understand the needs of Chinese buyers is a tool that they need in their metaphorical toolboxes to succeed in this new market where these particular buyers will need a broker that understands both their needs and the often-bizarre realities of New York City real estate.

“Neighborhoods and new construction are universal to foreign buyers from any continent,” says Ms. Williamson. “Apart from buyers looking for something specific like a townhouse, most international buyers are looking for newer construction. Especially branded real estate like W Residences or anything Trump.”

But while Chinese buyers will probably love ‘Trump SoHo,’ they also have distinctive needs from a stereotypical European buyer.

“Chinese buyers are often interested in feng shui, and there can be issues with numbers,” explains Ms. Williamson, alluding to Chinese belief system that there are “auspicious” (or lucky) and “inauspicious” (or unlucky) numbers, which can dictate which floor of a high-rise that they would chose to by into.

And that need to understand the needs of clients goes both ways according to Mr. Chen who has developed a system of working with potential Chinese buyers that relies heavily on spending an unusual amount of time with clients discussing their desires and matching them up best with specific neighborhoods and buildings they might not have been aware of as foreigners.

“I showed a property to potential Chinese buyer looking to be a landlord for long-term gain,” says Mr. Chen citing a recent example of his own experience. “He was very specific about what he wanted and where he wanted it. The guy had done his homework, I was very impressed.”

But, this being New York City, nothing is that easy and Mr. Chen taught his prepared client that lesson the hard way.

“I had to spend hours explaining rent control,” say Mr. Chen with a weary laugh.

So, standing in that Long Island City lot, watching Ms. Cerrano burn sage, bury red silk pouches and toss Smirnoff-soaked rice, one sees not just the modern embodiment of an ancient ritual, but a calculated prayer for the future of the most crucial real estate market in the world today.

tmcenery@observer.com

T-minus 358 days to go...

Brooklyn's new (entirely uncontroversial) Barclays Center is slated to open next September with pomp and circumstance brought by Brooklyn's own Jay-Z before (hopefully) playing host to what will be the newly-minted Brooklyn Nets sometime around Halloween. But the current lockout that has currently caused cancellation of more than a quarter of this NBA season seems to be worsening as players have rejected a new offer and are now filing federal suit to force NBA ownership into court.

The NBA be damned, we officially have a gameday at "The Brit BrickHouse" (we're entirely taking credit if this nickname catches on).

Kentucky and Maryland will tip it off on November 9th, 2012 at the crossroads of Brooklyn, in what will definitely be the first college game at the new arena, and maybe the first game of any kind if the labor strife currently engulfing the NBA lasts into next season. The announcement of the game was made by a group including Nets ownership, officials from both schools and Brooklyn boy/Maryland legend Albert King.

In addition to the Kentucky/Maryland tilt, there will be an "undercard" of sorts on the November 9th bill as Long Island University and Morehead State will play the second game of what is being billed "The Barclays Center Classic."

But whether the Nets get out from under paperwork in time to beat the metaphorical clock, it will come as a comfort to all that there will assuredly be some roundball being played in the County of Kings.

tmcenery@observer.com

Where's the magic?

Brooklyn's newest carousel is lacking its promised "magic."

Although Jane Walentas' Brooklyn Bridge Park carousel has been up and running for two months now, the "Magic Lantern" effect conceived of by French designer Jean Nouvel has failed to deliver on its promise of creating a shadow box effect to viewers after the sun goes down. But no worries, it only cost around $9 million to put together.

According to The Brooklyn Paper however, after spending $385,000 to acquire the almost hundred-year old carousel and 22 years of restoring it, Jane herself seems rather unconcerned about the lack of sizzle being delivered by Mr. Nouvel's failed effect.

She told the BP, “Most people say, ‘Who cares?’ It looks beautiful without the shadows.”

But after that kind of expenditure and all the hoopla that surrounded the carousel's opening, it has to irk Mrs. Walentas at least a little bit that the incredible amount of money doled out to Mr. Nouvel has not yielded the promised result.

And if it really doesn't bother her, it must drive her husband, "Mr. DUMBO" himself, David Walentas, absolutely insane.

tmcenery@observer.com

Beware the UES

In addition to all the problems—construction noise, shaky buildings, shuttered stores—that the Second Avenue Subway is causing the city, one 14-block stretch of Second Avenue between East 87th and East 101st streets might now be costing an additional $2 million per block. In personal injury lawsuits.

And this is just phase one.

As The Post reported this morning, a whopping $27 million worth of suits have been levied against the MTA for damage caused to streets and sidewalks along upper Second Avenue that litigants claim are to blame for injuries that range from trip and falls to car accidents. The individual cases are, of course, unique in both their narrative and merit, but they are joined by the fact that the largest public works project in many years is still running up higher and higher potential costs as its completion date keep being pushed back later and later.

In fact, the project's first phase, which has incurred all of the recent lawsuits, was originally supposed to be completed in 2014, but is now scheduled to wrap up in 2016.

So, either New Yorkers better tread more carefully or the M.T.A. had better get a good attorney on retainer.

tmcenery@observer.com

Laura Cerrano gets her feng shui on

Most of the sights and sounds at this morning’s event in Long Island City were pretty standard fare for a groundbreaking: guys in shirts and ties, wearing hard hats and holding novelty shovels, a massive back hoe parked in the back of a lot prepped for excavation.

A less ordinary sight however, was the young woman in a dark skirtsuit pacing the edges of the earthen lot, chanting quietly and gently tossing grains of vodka-soaked rice while development executives looked on appreciatively.

As bizarre as the sight may sound, it is almost surely a sign of things to come on the home front.

“Everyone can benefit from good energy,” said Eric Benaim, President of Modern Spaces. His company has enlisted the services of “Certified Feng Shui Consultant” Laura Cerrano of Feng Shui Long Island to advise them on every facet of the design and construction of Vista Court, a 15-story residential building on Purves Street just south of Northern Boulevard.

But Modern Spaces' decision went beyond simple good vibrations. The firm, like so many other developers in the city, wanted to attract that most auspicious tenant-of-the-moment: the Chinese.

For Modern Spaces, the plan to attract those buyers is quite literally from the ground up. Aside from providing advice on how units should be designed, placement of windows and balconies, doing away with the fourth floor of the structure entirely (“that will be more of a re-naming,” admitted Ms. Cerrano), one of Ms. Cerrano’s contributions to the project was today’s ceremony that prepared the lot for excavation.

That lobby light is feeling the shui.

The ceremony included burying small red baggies filled with objects that represented the five elements, the burning of sage, and, finally, the rice ceremony which necessitated Ms. Cerrano to pour 99 drops of Smirnoff Vodka onto a bowl full of uncooked rice, before adding the mineral cinnabar and stirring the mixture with her middle finger 99 times. “I offered her Ketel One,” joked Mr. Benaim who added that Ms. Cerrano was very specific about her brand of vodka.

After completing her prep, Ms. Cerrano educated the audience on how sprinkling the rice along the perimeter of the lot would feed the ghosts and spirits that inhabit the space and provide positive energy for its future tenants.

As The Observer watched Ms. Cerrano stroll carefully over the uneven, cement-cragged ground, we wondered what brokers in SoHo were doing at that moment to attract what’s left of the European buyer’s market. Maybe some ouzo would do the trick.

tmcenery@observer.com

Well, as the poet says, "there's a first time for everything," and thanks to J. Crew creative director Jenna Lyons, we can now notch the above phenomenon off our list.

In the midst of a public divorce, and what is reported to be a burgeoning relationship with fashion executive Courtney Crangi, the 43 year-old Ms. Lyons has chosen Stribling to list the 7 bed, 3.5 bath, 4,400 square foot brownstone in Park Slope that she owns with her estranged husband, artist Vincent Mazeau. According to Curbed, Ms. Lyons and Mr. Mazeau bought the home in 2004 for $1.3 million and are looking to double their money, asking for $3.75 million now.

Judging from the stunning photos on the listing, they just might get it. Ms. Lyons sense of style is apparent throughout the brownstone's four stories and the attention to detail is very clear (see: claw-footed tub in the bedroom, an antler-laden dining room and what appears to be a "shoe room").

While there's no word on whether Ms. Lyons intends to stay in the neighborhood (we're out of the gossip loop at Ginger's Bar), we look forward to seeing what she'll do to the next house upon which she gets her hands.

tmcenery@observer.com

Rap's first home is saved!

The hallowed ground on which "b-boys" and "b-girls" first found their groove will be saved from (a non-allegorical) wrecking ball crew.

1520 Sedgwick Avenue in The Bronx is often referred to as "The Birthplace of Hip-Hop" owing to the musical sound that was pioneered by DJ Kool Herc (nee Clive Campbell) in the building's recreation common room during the late 1970's.  Mr. Campbell's music influenced other progenitors of the hip-hop scene, including Grandmaster Flash and Afrika Bambaataa, who made their way to the Morris Heights section of the Bronx to attend parties at 1520 Sedgwick, before bringing Mr. Campbell's DJing style back to the more Southern boroughs.

In recent years however 1520 Sedgwick became a glaring example of the pitfalls of predatory lending, with it's new ownership falling almost immediately into default and allowing the building to go neglected. In fact Senator Chuck Schumer wryly referred to the building as "the birthplace of predatory equity” last September when news of the building's dire financial situation came to light.

Despite attempts by city financial officials to prevent the transaction, a group led by investor Mark Karasick purchased the deed to 1520 Sedgwick in 2008, and went into default less than two years later, prompting outrage and fear from longtime residents including 72 year-old "Mama Kool Herc," aka Geraldine Davis, who told The Times today that "We stay here and fight. I’m going to stay here till the bricks come loose.”

But the bricks will stay firmly in place, at least for now, as a company called Workforce Housing Advisors has picked up the deed to 1520 Sedgwick at public auction for $6.2 million. $5.6 million of that amount will come in the form of a city loan designed to save buildings just like hip-hop's Bronx-based birthplace.

tmcenery@observer.com

A new reason to say "Bon Appetit" in Billyburg

It seems that the Walentases are bringing the best of Williamsburg's flourishing food scene into their new hotel on the corner of North 11th Street and Wythe Avenue.

According to a report from Brownstoner, at a quarterly meeting of the Brooklyn Real Estate Round Table today, Jed Walentas made some comments that revealed some tasty details about Two Trees Management's new hotel project, including the fact that the restaurant (Brownstoner speculated there might be two, but our sources tell us there will be only one) on the the new development's ground floor will be run by Andrew Tarlow, the culinary mind behind Willamsburg foodie meccas Marlow & Sons and Diner (he also has a hit in Fort Greene's Roman).

Tarlow's involvement in the project brings immediate "cred" to both the gourmet and neighborhood "rep" of the new hotel which Walentas also let slip might be called "The Wythe" and will open on or around May 1st, with rooms starting at around $200 a  night.

So, it appears that Two Trees knows a thing or two about life outside Dumbo, or at least enough to know about who the go-to-guy is for Billyburg eats. This is stimulus money well spent.

tmcenery@observer.com

No?

Well, it’s admittedly a very weird thought, but someone apparently had it, and they even followed up on it in the West Village.

Which is what leads us to this $10.5 million townhouse on West 13th Street currently on offer from Halstead, who get poetic in the language on the listing telling us “The excitement begins on the roof.”

That proclamation might be fair (the infinity pool, outdoor cabana dining room and full bar setup do indeed create quite an exciting scene), but let’s take this step-by-step, Halstead…

We mean, slow your roll baby (we’re getting into the spa life lingo, we’ve even grown a mustache).

The rooftop excitement is the allegorical cherry on top of this very interesting (very “bathing-centric”) townhouse renovation.

From the listing’s own tour, we’ve got a garden level that can be used as a service floor or an income-generating rental, “it commands a very high rent” Halstead tells us paranthetically.

The Parlor floor has  “13 foot ceilings and floor to ceiling windows” and “offers flexibility as a grand entertainment space or additional living.”

The Second floor, where the proverbial ‘magic’ will inevitably happen thanks in part to two “luxury” baths “clad in travertine marble and have Jacuzzis with built in LCD screens,” is wired to become an entertainment center (which seems redundant with the travertine marble entertainments on offer).

But, back to the roof, we are impressed, so impressed in fact that we, like Halstead, find ourselves pith-less, but will submit to Halstead’s attempt to get it all out through use of bullets;

• Infinity edge plunge pool
* Rooftop bar and fully fitted kitchen
• Climate controlled loggia with dining for 12
• Blu-Ray entertainment system and surround sound
s

Yowza.

Get out those chenille robes and invite us over, we might even lose this terrible new mustache…

tmcenery@observer.com

Erica Lefevre is looking for answers, but is getting only more questions

When Erica Lefevre took the microphone outside One Police Plaza at a press conference shortly after noon today, the clearly stricken woman spoke first about what a talented artist her son had been, and how he had left his native Canada to make an impact on the art world of New York City.

“His work is in museums in Toronto and his native home of Montreal,” she said, her voice trembling with a mix of pride and sadness, knowing he would never paint again.

While riding his bicycle home from his studio last Wednesday night, 30-year-old Mathieu Lefevre was struck by a truck and killed on the corner of Meserole Street and Morgan Avenue in Bushwick. The driver, who apparently claims not to have seen or known what was happening and will not be charged in Lefevre’s death.

Other than that sketchy information, Lefevre’s parents and his ex-wife Juliana Berger, have no knowledge of what occurred, and after a week of questions to the NYPD they have had no further answers, or solace.

“What compounds this tragedy is a failure to get information from the police about what happened to our son,” said Ms. Lefevre.

As a rule, ad hoc press conferences planned by community groups, and conducted outside the headquarters of powerful entities are disorganized, sparsely attended and lack the impact that they want so desperately to deliver. It's just another sad fact of the "You Can't Fight City Hall" reality of life. Today's event was a strikingly different matter.

Transportation Alternatives, the bike-friendly advocacy group led by Paul Steely White, had convened the meeting to take Police Commissioner Ray Kelly, and to a degree his boss, Mayor Michael Bloomberg, to task. In the case of Lefevre, and countless other pedestrians and cyclists killed by motor vehicles, the Police Department has given the drivers a free ride. Lefevre's case has already been closed, with all a charges dropped. A cover story from the Voice in August, of a woman nearly killed in Greenpoint also comes to mind.

“In some cases it’s taken up to 10 months or more to get the police to share their findings,” Steve Vaccaro, an attorney who volunteers for TransAlt, said.

But there is a problem of contradictions here. On the days Mr. White and company are not attacking the administration, they are praising it for its cycling and mass transit campaigns, for its new bike lanes, the rise in ridership, the declines in accidents. Mayor Bloomberg is at once too bike friendly and not bike friendly enough. The advocates want a zero-tolerance policy even as they themselves no zero accidents are an impossibility. He called Ray Kelly, of all things, "soft."

That is what made Ms. Lefevre so important. Where condemnations came to nothing, she brought the crowd to angry tears.

In fact, as soon as the victim’s mother took the microphone from Mr. White and asked the NYPD for answers to the question of how her son was killed, the entire event seemed to shrink immediately from the meta concerns of proper law enforcement to the Kafka-esque episode inside which Lefevre’s survivors currently exist, hundreds of miles from home.

What struck The Observer as most bizarre and disquieting, was a comment made by Ms. Lefevre that at first seemed to be a throwaway from a woman under the pressures of grief and stress.

Apparently, despite numerous requests, the helmet Lefevre wore on the night of his death has not been returned to his family, and the NYPD apparently has no plans to do so. A woman who is hosting the Lefevre family at her home confirmed to The Observer that this is indeed the case and Mr. Lefevre’s bicycle was also still in the police's hands—despite the case being closed.

Even if the family cannot get answers from Ray Kelly and the NYPD, do they not at least have the decency to return his things?

tmcenery@observer.com