Tuesday, October 30, 2012

Sandy's Aftermath

First and foremost, my heart goes out to all the people of New York City, New Jersey and the rest of the Eastern seaboard affected by Sandy.
I was fortunate to get through it unscathed. I've looked at my block and don't see any downed trees or damage. A tree is down in my neighbors back yard and is leaning on the cable TV wires. I hope I don't loose my Internet, although I don't think I will get much work done anyway! Despite that yesterday evening, during the height of the storm, I received an email from someone inquiring about an appointment! Very insensitive in my opinion; however this person needs to move immediately! *Blank stare at my computer screen*
There is no public transportation at all. Half of the City is without power. Schools are closed. Airports are closed. The New York Stock Exchange is closed and most of lower Manhattan and parts of Brooklyn, including Red Hook, Gowanus, and Dumbo were submerged in water.
You can help out by texting the word REDCROSS to 90999 to make a $10 donation.

Links: http://www.brownstoner.com/blog/2012/10/brooklyn-floods-loses-power-in-hurricane-sandy/




Friday, October 19, 2012

31-Room Clinton Hill Mansion Seeks a Whopping $10M

Fort Greene may be the best neighborhood in Brooklyn, but it's not the only one that can have a $10 million house—this 31-room mansion at 278 Clinton Avenue in Clinton Hill has just been listed for the same price. It's the most expensive listing in the neighborhood by more than $700,000, and it's one of the most expensive properties in the whole borough. Built in 1884, the beautiful red brick home retains its original Queen Ann and Neo Grec architectural details, and it has a 60-foot wide front garden. There's a two-car garage, and the 6,900-square-feet of living space is split into several apartments that can be rented. There's also an additional buildable square footage up to about 5,700 square feet.

Read Full Story Here>>  http://ny.curbed.com/archives/2012/10/15/31room_clinton_hill_mansion_seeks_a_whopping_10m.php

Thursday, October 11, 2012

NYC residential sales rise 6% in 3Q | Crain's New York Business

Buck Ennis[+] Enlarge
Citywide, the number of home sales in the third quarter were up 6% from year earlier levels.
Updated: October 11, 2012 2:26 p.m.
Home sales and prices rose across the city in the third quarter, according to a new report. In Brooklyn and Queens the average sales price hit its highest point since late 2007, at $619,000 and $411,000, respectively.
According to the quarterly residential sales report from the Real Estate Board of New York, the average price paid for a home in the city rose 1% over the last year, to $786,000.
Citywide, the number of home sales in the third quarter were up 6% from year earlier levels. Manhattan led the five-borough pack with a 7% jump in home sales volumes, while Brooklyn and the Bronx each saw a 5% rise.
Steven Spinola, REBNY's president, said the improvements signaled a housing recovering for the city.

Read more: http://www.crainsnewyork.com/article/20121011/REAL_ESTATE/121019977#ixzz2919nttlr

Tuesday, October 9, 2012

360,000-SF Victoria Project To Highlight Harlem's Past--and Future

A rendering of the two 26-story
towers that will be built above
the historic Victoria Theater on
125th Street in Harlem.

NEW YORK CITY-A new hotel, apartments, retail and cultural space are all part of a $143-million plan to bring a mix of commercial uses to Harlem’s storied 125th Street corridor. After Empire State Development approved Danforth Development Partners plan to construct more than 300,000 square feet above the historic Victoria Theater in July, the developer has tapped architect Ariel Aufgang to design the project with a special focus on preservation and progress.
“The whole idea of developing this mixed-use structure is that we are trying to make a destination for the community and for people from outside the community,” Aufgang tells GlobeSt.com. “It will be the center of attention.”
The project – which will rise midway between the New York State Office Building and the Apollo Theater – involves the construction two 26-story towers, a hotel and an apartment building, will be constructed above the historic Victoria Theater, whose original 1917 terra cotta facade and ornate lobby will be restored. The two towers, a 210-room hotel and a 230-unit apartment tower, will have a combined 360,000 square feet of space.
Aufgang – part of Suffern, NY-based Aufgang + Subotovsky Architecture – says the team is working to preserve and restore historic components of the theater while bringing new amenities and services to the area. He notes that the hotel will be the first full-service hotel in the history of Harlem, complete with a 5,000-square-foot ballroom and a four-story base called the “podium,” which has 25,000 square feet of retail space and 25,000 square feet of cultural space. Upon completion, it will house institutions such as the Classical Theater of Harlem, JazzMobile, the Apollo Theater Foundation and the Harlem Arts Alliance.
“What’s most remarkable about the job is the mix of all the different uses and the fact that it is also combining a presentation program that will link with Harlem’s past and a brand new building on top that will connect with the future, and that’s the most compelling part,” he says.
Aufgang says the entrance to the hotel will be on 125th Street, through the Victoria Theater's lobby, which will be restored, with its signature fountain, marquee, grand staircase and lighting, much of which has been preserved. Restoration will be based on original plans and designs, including paint colors. The hotel lobby will feature high-end retail space. The entrance to the apartment tower will be on 126th Street through a porte cochere. The covered circular driveway will facilitate the flow of vehicles transporting residents and minimize traffic congestion on the street. Each building will face the street--the hotel entrance on 125th Street and the apartment building entrance on 126th Street.
In terms of community response, Aufgang says the neighborhood has welcomed the project. Both ESD and the Harlem Community Development Corporation have already approved the general project plan, and he adds that the project has been very well received. “It is a big building, but everyone agrees that is right-sized for the elements that are needed for the community now,” he says.
Jacqueline Hlavenka Jacqueline Hlavenka, East Coast Editor for GlobeSt.com and Real Estate Forum, is responsible for coverage of news and information pertaining to commercial real estate in New York City. Prior to joining ALM, she served as a municipal beat reporter for Greater Media Newspapers in central New Jersey. Her work has also been published in The Asbury Park Press, The Village Voice, Interior Design Magazine and CondĂ© Nast’s Cookie Magazine. Contact Jacqueline Hlavenka.

Friday, October 5, 2012


New Affordable housing proposed for Brooklyn

Brooklyn’s Lincoln Road may be site of new rental, with affordable, below market-rate units

October 04, 2012 12:00PM
Project rendering (credit: Curbed)
Prospect Lefferts Garden could soon be getting a nine-story, 133-unit building. Situated near Prospect Park, at 33 Lincoln Road, the building would have 20 percent of its units be affordable to low-income tenants and the rest of the units would be 10 percent below the market rate. The ground floor would include two retail spaces and a community space. Other building amenities include underground parking and storage for rent, a gym, a café and a roof deck.
Tom Anderson of Anderson Associates last night presented the plan for the property, which would sit atop a 26,000-square-foot lot, to the ULURP Committee of Brooklyn Community Board 9. Building permits are still filtering through the Department of Buildings and the plan will go to the full Community Board toward the end of the month.
The Department of Housing Preservation and Development has already green-lit the proposal.

credit:  http://therealdeal.com/blog/2012/10/04/brooklyns-lincoln-road-may-be-site-of-new-rental-with-affordable-below-market-rate-units/

Thursday, October 4, 2012

Valuable information for the 1st time buyer or renter in New York

real estate


A guide for first-time renters and buyers

Roommates Matthew Gorman, left, and Steve Kaliski hang
Photo credit: Roommates Matthew Gorman, left, and Steve Kaliski hang out in their kitchen. (Charles Eckert)
It's no secret that the New York real estate market requires skill to navigate, but it's especially difficult for those who've never rented or bought property before.
While prospective renters and buyers can arm themselves with knowledge of market conditions, average rents, closing costs, inflation statistics and brokers fees, problems pop up in the process (the elevator broke, a co-op denies an application) that are hard to prepare for.
We spoke with real estate experts and a first-time renter to get advice for new renters and buyers, and to help experienced New Yorkers avoid repeating mistakes in the future.
The preparation
Gary Malin, president at CitiHabitats, said knowing the city's market conditions often doesn't arm prospective tenants and owners with enough information.

Read the full Story Here:  http://www.amny.com/urbanite-1.812039/a-guide-for-first-time-renters-and-buyers-1.4070135

Tuesday, October 2, 2012

NY Inventory continues to dwindle sparking bidding wars

The number of apartments listed for sale in Manhattan shrunk to the lowest level in seven years, creating yet another challenge for would-be buyers, market reports say.

Brokers said the new supply hurdle for buyers could lead to higher sale prices in the months ahead and has already triggered a frenzy of bidding wars in the past few months, as sales surged and few new apartments came on the market.

Bloomberg News
Residential buildings on the Upper East Side.

When Amanda Sawyer, a Corcoran Group broker, put a two-bedroom apartment on the market in Greenwich Village in June for $1.495 million, she said eight would-be buyers submitted written offers within a week.
Read the full story here:  


Monday, October 1, 2012

The Story behind the elusive Key to Gramercy Park

THERE are 383 aspirational keys in circulation in the Big City, each of them numbered and coded, all of them equipped to unlock any of four wrought-iron gates offering privileged access to undisturbed siestas or tranquil ambulation inside the tree-lined boundaries of Gramercy Park. At age 181, the only truly private park in Manhattan is lovelier and more ornamental than ever; yes, the colorful Calder sculpture swaying blithely in the breeze inside the fence is “Janey Waney,” on indefinite loan from the Calder Foundation.

Read Full Story Here >>    http://www.nytimes.com/2012/09/30/realestate/how-do-you-get-a-key-to-gramercy-park.html?pagewanted=1&_r=0
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