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NYC Agent Justin Tuinstra Embraces the High Risks and Higher Rewards of New Development

by Elliman Insider Team

July 2024

By Grace Cassidy Justin Tuinstra grew up in Wisconsin and Minnesota before moving to New York City in 2005 to pursue a modeling career. When he decided that modeling wasn’t for him anymore, he turned to real estate and earned his license in 2008—at the height of the global financial crisis. In spite of the challenging market environment, Tuinstra ascended quickly, initially joining The Eklund|Gomes Team at CORE. Since joining Douglas Elliman in 2011, he has assembled his own team and built a thriving new development business, closing more than $500 million in sales. “The idea of selling new, compared to resale, was immediately exciting to me,” Tuinstra said. “Working for a developer seemed scary at first—there’s a lot more risk to trying to sell fifty homes for one owner rather than fifty unique sellers, but the reward is significantly higher, and I would add rewarding as well.” Among his recent new dev projects—which include 135 West 52nd Street , 196 Orchard and 200 East 21st Street —Tuinstra represents numerous listings in Madison House , a Handel Architects-designed luxury building located at 15 East 30th Street in NoMad. Residents at Madison House enjoy panoramic city views, 11-foot ceilings, kitchens equipped with top-of-the-line Gaggenau appliances and 24-hour concierge service. The 58A unit , listed for $13,950,000 and spanning over 3,300 square feet, comprises four bedrooms, four bathrooms, hardwood flooring, solid walnut interior doors, marble throughout the bathrooms and sleek, modern fixtures. In addition to his professional work, Tuinstra commits a great deal of time and effort to giving back. He has built homes with Habitat for Humanity for people affected by Hurricane Katrina in New Orleans and has worked for the past ten years with Feeding NYC, a grassroots organization that delivers Thanksgiving meals to individuals and families living in shelters across the city. In 2023, the organization delivered over 9,000 meals to New Yorkers. “It is just so rewarding,” he said. “We spend all morning loading and delivering, and we continue until the last box is handed off.” Although rewarding opportunities in NYC new development have been limited of late, Tuinstra has navigated similarly strong economic headwinds before. “Land pricing is still an ongoing battle,” he said. “Thanks to a very challenged financing market, projects are rarely penciling out. Things should start to continue to rebound post-election and into 2025.”