Trusts and Estates Book

Expert Services for Trusts & Estates Properties Christie’s International Real Estate Group offers specialized and unparalleled support to estate attorneys, trustees, and heirs through its Trusts & Estates Division. This service was founded by Howard Morrel & Leslie Hirsch, and is overseen by the Morrel Hirsch & Advisors team in New York City. Our work is closely coordinated with the Christie’s Auction House and our international network of agents in 50+ countries. Christie’s handled over $500 billion in property and goods in the last five years alone.

MORREL HIRSCH & ADVISORS

REAL ESTATE SERVICES FOR TRUSTS AND ESTATES

More than real estate, we provide a full array of services to support attorneys, Trustees, executors, and the families they represent. Beyond the real estate sale, we provide a full array of services to support Attorneys, Trustees, Executors, and the families they represent.

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Our Story

We began our business with two core values we have always shared: Our commitment to achieving the goals of our clients, and a steadfast dedication to ensure that they receive the best possible service. That is why in 1998 we made the decision to expand our business to not only cover the buying and selling process but also to assist with the additional needs relating to selling property for a Trust or Estate. We work together with our team of attorneys, agents, appraisers , stagers, moving co-ordinators , contractors and auction houses. Each partner plays a specific role in facilitating the process for our clients. In this brochure we highlight some of our most notable cases to provide you with real examples of how we have helped our clients through some of the most sensitive and challenging times of their lives. We look forward to working with you! We began our business with two core values we have always shared: a commitment to achieving the goals of our clients and a steadfast dedication ensuring they receive the best possible service. That is why, in 1998, we made the decision to expand our business to not only cover the buying and selling process but also to assist with the additional needs relating to selling property for a Trust or Estate. Our holistic approach brings together a dynamic team of attorneys, agents, appraisers, stagers, moving coordinators, contractors, and auction houses. Each member plays an integral role, ensuring a seamless experience for our clients. In this brochure, we highlight some of our most notable cases to provide you with real examples of how we have helped our clients through some of the most sensitive and challenging times of their lives. We look forward to working with you!

H.M

L.H

Howard Morrel Howard Morrel ESQ Licensed Real Estate Broker & Attorney at Law

Leslie Hirsch Licensed Real Estate Broker

What Makes Us Different

WALL STREET JOURNAL Ranked Top Real Estate Team EXTENSIVE CLIENT PORTFOLIO Worked with over 100 Law Firms $3+ BILLION In Closed Transactions EXTENSIVE CLIENT PORTFOLIO Including NYC’s 100 Largest Law Firms WALL STREET JOURNAL Ranked Top Real Estate Team REAL TRENDS America’s Best Real Estate Professionals $3 BILLION SOLD In Real Estate REAL TRENDS@ America’s Best Real Estate Professionals

$3 BILLION SOLD In Real Estate

WALL STREET JOURNAL Ranked Top Real Estate Team EXTENSIVE CLIENT PORTFOLIO Worked with over 100 Law Firms REAL TRENDS@ America’s Best Real Estate Professionals

One57 | 157 West 57th Street, New York | $18,000,000 | Sold by Morrel Hirsch & Advisors

Our Services

• Real Estate Brokerage • Property Evaluations, Analytics & Licensed Appraisals • Staging & Preparation of the Property for Sale • Chattel Appraisals & Estate Liquidation Assistance

Baccarat Hotel & Residences | 20 West 53rd Street, New York | $17,000,000 Sold by Morrel Hirsch & Advisors

Property Evaluation & Appraisals

Real Estate Brokerage

• Broker Opinion Letters • Time of Death Valuations • Appraisals by Our Licensed Appraisers • Rental Income Analyses

• Part 36 Registered Real Estate Broker • Residential & Commercial Brokerage Service

• Innovative Marketing Strategies • Seller & Buyer Representation

Townhouse | 3 Riverside Drive, New York | $1 5 , 800 ,000 | Sold by Morrel Hirsch & Advisors

Penthouse | 5 Tudor City Place, New York | $3,595,000 | Sold by Morrel Hirsch & Advisors

Preparation of the Property for Sale

• Estate Clean-Out Assistance • Co-ordination of Movers & Shippers • Project Management for Renovation and Staging • Estate Clean-out Assistance • Logistics Coordination for Moving & Shipping • Project Management for Renovation & Staging

Sold by Morrel Hirsch & Advisors Time Warner Center Residences |\ 25 Columbus Circle, New York | $6,700,000 | Sold by Morrel Hirsch & Advisors

Case Studies

Waterfall Mansion & Gallery | 170 East 80th Street, New York | $34,000,000 Morrel Hirsch & Advisors Exclusive Listing

Upper East Side Co-op CO-OP

CHALLENGE: Two brothers inherited their parents’ Upper East Side co-op apartment, which had been occupied for over 50 years and contained a lifetime of belongings. One brother was a high-powered executive on the West Coast whose directive to our team was to “just take care of it and send the check.” The other brother lived locally and felt more of a personal attachment to his parents’ items. SOLUTION: The Morrel Hirsch & Advisors team met with the local brother and our highly skilled estate moving advisory partners to devise a plan to stage the apartment for sale using existing furniture while simultaneously sorting all personal items for family members, donation and disposal. RESULT: Morrel Hirsch & Advisors met with the local brother and our highly skilled estate moving advisory partners to devise a plan to stage the apartment for sale using existing furniture while simultaneously sorting all personal items for family members, donation and disposal. The brother on the West Coast was pleased to have the process fully managed. The family was very satisfied with the result, and the apartment sold for $3.2 million, a high price for the building. In addition, in reviewing the parents’ belongings, the team uncovered a box of the father’s WWI war medals and other items that were meaningful to the family and would likely have been discarded with a less thorough approach. satisfied with the result, and the apartment sold for $3.2 million, a premium price for the building. In addition, while reviewing the parents’ belongings, the team uncovered a box of the father’s WWI war medals and other items that were meaningful to the family and would likely have been discarded with a less thorough approach. Two brothers inherited their parents’ Upper East Side co-op apartment, which had been occupied for over 50 years and contained a lifetime of belongings. One brother was a high-powered executive on the West Coast whose directive to our team was to “just take care of it and send the check.” The other brother lived locally and felt more of a personal attachment to his parents’ items.

Upper East Side Townhouse

CHALLENGE: The Trust attorney for a family office that owned a large Upper East Side townhouse and a 6-acre oceanfront compound in the Hamptons required extensive assistance with the valuation, appraisal and sale of the real estate properties and a thorough assessment of the market value of all of the personal property in both locations. The latter included significant artwork, sculptures, antique furniture and collectibles requiring specialized knowledge. SOLUTION: The Morrel Hirsch & Advisors team tapped into our extensive network of experts to ensure the right talent was in place. In addition to providing an astute valuation of the Manhattan townhouse and Hamptons estate, we arranged and supervised visits and evaluations conducted by Heritage Auctions, Sotheby’s, Christie’s and Bonhams. Morrel Hirsch & Advisors tapped into our extensive network of experts to ensure the right talent was in place. In addition to providing an astute valuation of the Manhattan townhouse and Hamptons estate, we arranged and supervised visits and evaluations conducted by Heritage Auctions, Sotheby’s, Christie’s, and Bonhams. RESULT: By creating an organized presentation of all items to the executor, Trust attorney and family, they could easily make decisions on what to do with the belongings after the sale. The Hamptons property sold for over $40 million, and the Manhattan townhouse sold for $8.9 million. By creating an organized presentation of all items to the executor, attorney, and family, they could easily make decisions on what to do with the belongings after the sale. The Hamptons property sold for over $40 million, and the Manhattan townhouse sold for $8.9 million. The attorney for a family office that owned a large Upper East Side townhouse and a 6-acre oceanfront compound in the Hamptons required extensive assistance with the valuation, appraisal, and sale of the real estate properties and a thorough assessment of the market value of all of the personal property in both locations. The latter included significant artwork, sculptures, antique furniture, and collectibles requiring specialized knowledge.

Hamptons Family Office

CHALLENGE: An executor and estate attorney required local know-how and expert advice in representing a client who had inherited a piece of protected wetland in Easthampton many years prior. The town of Easthampton was in the process of purchasing wetland parcels from individual owners. However, the estate attorney required guidance to propose a purchase price to the township for the unique property. SOLUTION: Morrel Hirsch & Advisors provided a thorough broker valuation as well as a formal appraisal to use in determining a fair market price for the land. RESULT: The executor was able to use our valuation to negotiate a sale with the town of Easthampton and was happy to be able to liquidate an otherwise unusable piece of land. Both parties have since referred multiple estate clients to us. The Executor was able to use our valuation to negotiate a sale with the town of East Hampton. The Family Office was happy to liquidate an otherwise unusable piece of land. Both parties have since referred multiple Estate clients to us. The Executor and the Estate's attorney required local know-how and expert advice in representing a client who had inherited a piece of protected wetland in East Hampton many years prior. The town of East Hampton was in the process of purchasing wetland parcels from individual owners. However, the estate attorney required guidance to propose a purchase price to the township for the unique property. Morrel Hirsch & Advisors provided a thorough comparative market analysis as well as a formal appraisal to use in determining a fair market price for the land.

East Village Guardianship Sale

CHALLENGE: The court-appointed legal guardian of a world-renowned Wall Street executive required special assistance in handling the sale of the executive’s East Village home. The transaction required sensitivity due to the fame of the owner. While the apartment was located in a very desirable location, it was in extreme disrepair and uninhabitable. In addition, during the process of the sale, the seller passed away. SOLUTION: Due to the Morrel Hirsch & Advisors team’s sterling reputation, the guardian entrusted us to work with absolute discretion and privacy. To prepare the property for sale and achieve the best price for the estate, we handled all the logistics, including kitchen and bathroom renovations, electrical work, leak damage repair, furniture staging, cleaning and more. Due to the Morrel Hirsch & Advisors team’s sterling reputation, the Guardian entrusted us to work with absolute discretion and privacy. To prepare the property for sale and achieve the best price for the Estate, we handled all the logistics, electrical work, repair of extensive water damage furniture staging, cleaning, and more. in the kitchen and bathroom, SOLUTION: Due to the Morrel Hirsch & Advisors team’s sterling reputation, the Guardian entrusted us to work with absolute discretion and privacy. To prepare the property for sale and achieve the best price for the Estate, we handled all the logistics, electrical work, repair of extensive water damage furniture staging, cleaning, and more. in the kitchen and bathroom, RESULT: The resulting sale set a new record for the building. We were able to find a cash buyer who was willing to accept the property in as-is condition, which prevented the estate from having to make costly repairs. Moreover, the entire transaction was conducted with the privacy and care the guardian expected and received . The guardian has since referred over a dozen clients to us. The resulting sale set a new record for the building. We were able to find a cash buyer who was willing to accept the property in as-is condition, which prevented the Estate from having to invest in more costly renovations. Moreover, the entire transaction was conducted with the privacy and care that the Guardian required. The Guardian has since referred over a dozen clients to us. RESULT: The resulting sale set a new record for the building. We were able to find a cash buyer who was willing to accept the property in as-is condition, which prevented the Estate from having to invest in more costly renovations. Moreover, the entire transaction was conducted with the privacy and care that the Guardian required. The Guardian has since referred over a dozen clients to us. The court-appointed legal Guardian of a world-renowned Wall Street executive needed specialized assistance in managing the sale of the executive's East Village home. Due to the owner's fame, the transaction necessitated discretion and sensitivity. Although the apartment was situated in a highly desirable location, it was in severe disrepair and uninhabitable. Adding to the challenge, the seller passed away during the sale process. CHALLENGE: The court-appointed legal Guardian of a world-renowned Wall Street executive needed specialized assistance in managing the sale of the executive's East Village home. Due to the owner's fame, the transaction necessitated discretion and sensitivity. Although the apartment was situated in a highly desirable location, it was in severe disrepair and uninhabitable. Adding to the challenge, the seller passed away during the sale process.

Recent Transactions

170 East End Avenue 5 Tudor City Place 80 Columbus Circle 415 East 54th Street 41 Central Park West 146 West 57th Street 641 Fifth Avenue 465 Park Avenue 1165 Park Avenue 900 Park Avenue 641 Fifth Avenue 465 Park Avenue 1165 Park Avenue 900 Park Avenue 146 West 57th Street 160 East 22nd Street 52 Park Avenue 301 Degraw Street 150 Central Park South 64 East 94th Street 146 West 57th Street 160 East 22nd Street 52 Park Avenue 301 Degraw Street 150 Central Park South 64 East 94th Street 170 East End Avenue 5 5 Tu d or City Place 80 Columbus Circle 415 East 54th Street 41 Central Park West 146 West 57th Street

317 Murray Place 157 West 57th Street 101 East 63rd Street 157 West 57th Street 1965 Broadway 53 East 67th Street 11 Cove Hollow Farm 56 East 66th Street 53 East 67th Street 170 East End Avenue 224 West 22nd Street 218 East 62nd Street 146 West 57th Street 110 Hudson Street 224 West 22nd Street 146 West 57th Street

$58,000,000 $18,995,000 $18,000,000 $17,750,000 $15,450,000 $15,450,000 $14,950,000 $14,000,000 $11,000,000 $9,995,000 $8,800,000 $8,000,000 $7,775,000 $7,500,000 $7,425,000 $6,990,000

$6,750,000 $6,551,395 $6,500,000 $5,921,000 $4,450,000 $4,350,000 $4,222,500 $4,200,000 $4,175,000 $3,945,000 $3,750,000 $3,315,999 $3,250,000 $3,000,000 $2,500,000 $2,450,000

Previous Clients

We look forward to working with you!

We understand the needs of Trust & Estate and Elder Law attorneys, the various family dynamics and the sensitivities which can arrise. With the utmost care and professionalism, we delicately manage every aspect of the property sale. Our job is to remove all non-legal matters from your caseload as they pertain to the sale of real estate and removal of personal property. With the utmost professionalism and care, we delicately manage every aspect of the property sale. Our job is to remove all non-legal matters from your caseload pertaining to the sale of real estate and disposition of personal property. With the utmost care and professionalism, we delicately manage every aspect of the property sale. Our job is to remove all non-legal matters from your caseload as they pertain to the sale of real estate and removal of personal property. At Morrel Hirsch & Advisors, we understand the needs of Trusts & Estates and Elder Law attorneys, as well as the various family dynamics and sensitivities that can arise in their business. We understand the needs of Trust & Estate and Elder Law attorneys, the various family dynamics and the sensitivities which can arrise.

& Estate and Elder Law attorneys, the various family dynamics and

nalism, we delicately manage every aspect of the property sale. matters from your caseload as they pertain to the sale of real estate

Morrel Hirsch & Advisors 10 East 53rd Street New York, NY 10022 info@morrelhirsch.com | 212.956.4823 NewYorkEstateBrokers.com

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