Gen-Y makes its big entrance.

We've had the baby boomers and Generation X, now a new wave of home buyers are starting to make their presence felt in the residential market place.

"Echo boomers, also known as Generation Y, will drive home sales to higher price points over the next five years," says Pamela O'Connor, CEO and president of Leading Real Estate Companies of the World, the world's biggest network of independent residential real estate firms.

"There are nearly 80 million of this generation and they're already having a significant impact on the economy."

Born between 1982 and 1995, Echo Boomers, so called because they are the demographic echo of their baby boomer parents, make up nearly one third of the US population and already spend $170 billion a year of their own and their parents' money.

O'Connor says these young buyers are becoming the trendsetters of the industry, demanding bigger and better spaces, sophisticated designs and more up-to-the minute amenities.

According to the National Association of Home Builders, together with the Generation X-ers, Echo Boomers bought 55% of all new homes built in 2003. It's no surprise then, that a buying group wielding so much power has builders, broker and marketers all bending to their will.

"This is a generation that has been very much influenced by the media and by brands," said Michael Shvo, founder of Shvo Marketing, the exclusive agent for the Jade Jagger designed Jade, at 16 West 19th Street in trendy Chelsea, which has specifically targeted the younger buyer. "They have a lot of access to information through the Internet and they know exactly what they want."

The partnering of both designers and products with residential developments is one of the many bi-products of the emergence of the Y generation and a trend that experts predict will grow.

While it's not appropriate for every new development, two prime examples of branding in action are Jade and 20 Pine, the Boymelgreen development Shvo is marketing downtown, which has been finished by Armani Casa, the interior design arm of Armani.

"With every building, we look at a target audience and you need to know who you are selling to in order to create the best building for that group," said Shvo.

"At 20 Pine, we brought in an international brand that appeals to anyone from 19 to 40 and, by creating an environment that is beautifully designed and in a branded environment, we are connecting much better to today's buyer."

The developer, The Copper Group, wanted a "sexy, young" feel for 16 West 19th, an image that Jade, the daughter of rock legend Mick Jagger, was more than able to pull off. At 400 to 1,000 s/f, they're not exactly the biggest apartments in the city but, by utilizing the finest designs and finishes and including a two-story terrace lounge that caters to the social demands of the target buyer, and with prices that start at $500,000, Shvo expects a flood of offers when sales begin in June.

"This is a generation that wants luxury but can't necessarily afford it," said Shvo. "You have to give them luxury in small doses--provide a smaller space, but have top-of-the-line finishes." Keeping one step ahead of the young buyers--or at least in step--is vital to success in today's market, according to Monica Klingenberg, director of marketing for The Marketing Directors, Inc. which is marketing Sutton 57, the 24-story tower at 212 East 57th Street, developed by Broadway Management.

"They are a tough crowd to keep up with because they know everything that's new, fun, creative and techy and they are not afraid to ask for it," said Klingenberg, who said her firm frequents numerous national events that showcase the very latest in new technology so marketers and developers can not only learn how these new gadgets works, but how they can be incorporated into their projects.

"At Sutton 57, we took an extra special look at security and how the elevators work and were ultimately able to introduce a keyless elevator system."

By using the FOB keyless entry system, each resident can command the only available access to their individual floor. Otherwise, elevators can only be accessed by the 24-hour concierge, who clears all packages, deliveries and visitors.

A version of the FOB system that uses fingerprints and retina readings is already in trials, but it's only a matter of time before it's the norm, according to Klingenberg. "We haven't used it yet because all the kinks have to be worked out before a developer will invest in it, but it's getting like Star Trek out there and it's only a matter of time."

At 123 Baxter Street, the ADG Organization's newest residential project designed by Adam Kushner, forget valet parking. The building boasts the first and only completely automated parking garage in New York City that parks and retrieves cars for owners automatically.

Owners who swipe their keycards as they board the elevators find their cars waiting for them by the time they reach the lobby. Sales there are expected to start next month.

At Court Street Lofts in Brooklyn's Carroll Gardens, residents can visually screen all of their visitors from the comfort of their living-room.

"Audio visual communication has become what we believe is the minimum the market will accept," said Jane Gladstein, founder and president of Gladstein Development which is developing Court Street Lofts in partnership with Apollo.

According to Gladstein, people in general have become much more tech-savvy. "It's a part of our life in a way it never was before and while Generation Y is more familiar and comfortable with those advances, they are not the only people who desire and request them."

Gladstein says anyone selling real estate today has to be knowledgeable about every aspect of their product, from understanding the security operations, to Internet access and modem and cable capabilities.

"They need to be able to articulate the assets and attributes of their products and there's no doubt that the tech-savvy Generation Y buyers are more on point in their questions and know exactly what they want."

But while developers and marketers are brushing up on tomorrow's world of technology, brokers, too, have to get their high-tech heads screwed on.

Toni Haber, senior vice president at Prudential Douglas Elliman, is among the lucky ones who is a tech buff and therefore doesn't mind having to focus on the latest technically innovative amenities. "I love keeping track of the technology that this generation demands. They want to be flying back to the city and able to change the temperature in their apartment or turn the lights on; some people want to be able to turn their stoves on and off.

"But as a broker, it is important to be able to speak to any generation about the market, technology and any trends we are seeing. You have to be educated and flexible to be able to communicate with every client."

Ariel Cohen, a broker at the Shvo Group, agreed. "As a broker, you have to constantly stay up to par with what's going on in your industry because there's so much information out there.

"Essentially, what the brokers are selling is information so, when you are approached by people and you know more than they know, you are the person they want to work with. So it's all about knowing what's out their and knowing more about it than anyone else does."