Something For The Wanna Have’s.
The battle between The Tenant’s association and PCVST management company Tishman Speyer ended yesterday with the highest court in New York ruling in favor of the The Tenants. This was the last possible appeal from Tishman after an Amicus brief was prepared which served to prove Tishman’s double dipping in the form of receiving J-51 tax breaks and market rate rent hikes. The law clearly bars deregulating units “which became or become subject to [stabilization] by virtue of receiving tax benefits” under the city’s J-51 program. This was a huge victory for the lower and middle class. During this time of excessive corporate greed and massive bonus payments justice was served today with a very clear message; You can’t expect to break the law, make a profit while also receiving tax benefits and not be punished. You can’t have it both ways and enjoy a capitalist compensation and a socialist compensation while you screw the people in the community. That’s called exploitation. This was a risk taken to earn a profit and the risk has not paid off. The beauty of which is pure capitalism. There are some commentator’s and journalists out there who see this as an unjust verdict. One of which is Steve Cuozzo in his NY Post article. He suggests that Jerry and Rob Speyer had another interpretation of the law (yeah no kidding) and writes “With so much hanging on the meaning of “by virtue of,” Jerry and Rob Speyer nonetheless rolled the dice. Now the court has made things far worse for them and for the entire decontrol cause, which too briefly offered a way out of the system’s socialist-style deathlock on the rental housing scene.” My answer to that is, Are you friggin serious Steve? So you’re supporting tax theft at the very least? This was a victory for pure capitalism and justice. If you take a profit gamble and you fail due to what is written in law then it’s game over. And the fallout from this can neither be protected or rationalized. If other landlords profit margin were based on the same expectations then that too is their big gamble. For the record I am a resident in Stuyvesant Town making $150,000 a year and I cannot save any money. This is a true victory also for the middle class. We deserve a victory after all our money has been either stolen from us or simply gobbled up by credit card companies and rent.
The final question I have is, now what? What happens from here with the decision. How will the money be parceled up for the victors? I live in a market rate apartment but I signed a lease agreeing to those terms. While it’s true that 4,352 apartments are now market rate, I signed my lease agreeing to pay that rate. I have asked employees working for Tishman Speyer whether I will receive a new re-regulated apartment and at this time it is not certain what the costs will be to TS or the re-structuring of the leases. I do not expect pro rated rent payments to be awarded but an apartment rate that could help me save would be nice.
Categories: Something for the wanna haves · Stuyvesant Town · The Most Interesting Real Estate News Of The Week
Limestone Mansion at 11 east 82nd Street
Courtesy of Cityfile.
1. Hedge funder John Griffin and his wife Amy, who paid $32.25 million for a full-floor apartment at 1030 Fifth Avenue last year, are selling their old apartment in the same building. Renovations are complete and the couple has quietly put their 8th-floor apartment on the market with Serena Boardman for $16.5 million. [NYT]
2. The townhouse at 11 East 82nd Street that was purchased by Ron Perelman as a home for one of his executives back in 1996 and was later acquired by private investor Keith Gollust, has gone into contract after more than a year and a half on the market. The limestone mansion was most recently priced at $29.5 million. [Sotheby's]
3. Tokyo-born filmmaker Keiko Ibi is sharing the risk at 15 CPW. Back in July, she put her one-bedroom condo on the market for $3.75 million. Now she’s partnered with her 7th floor neighbors, Young-oh and Byungwha Yoon, and they’ve listed their two apartments together for a combined $10.285 million. Corcoran’s Carrie Chiang has the listing. [Corcoran]
Categories: Something For The Haves
Courtesy of Crain’s Business.
Building green high-rise towers in New York City is not the higher cost option it has long been thought to be, according to a new study that will be released late Wednesday by the Urban Green Council.
Categories: Uncategorized
It’s been a two week hiatus, though it seems like so much longer. We’ve missed out giving you news for The Apthorp and whether it had reached it’s requisite 25 condo sales-It seems like they did, but some say that is to be disputed, the drama continues. The Stuyvesant Town battle rages on between the purchasers Tishman Speyer and The tenant’s association, the New York State Court of Appeals has yet to bring in their decision but it doesn’t look pretty for Tishman.
So, thanks for your patience and we will be posting all your favorite daily pieces and articles.
Categories: Real Estate News
Carl Ruderman
1. Porn publisher lists his two units for $13.25 million-courtesy of
NYO
2. Stuyvesant Town mega deal loses 60% of it’s value-courtesy of Curbed
Categories: Celebrity Real Estate · Real Estate News · Something For The Haves
2 east 67th street living room
Something For The Haves.
2 east 67th street. A super meaty cut. From $15,000,000 down to $12,000,000 a whopping 20%.
Show Me The Numbers.
2 east 67th street
7 room Co-op designed by Rosario Candela
$12,000,000
$10,589 maintenance
2 Bedrooms
2 Bathrooms
12′ ceilings
1 Library
1 Pantry
1 Servant’s Hall
2 Staff Bedrooms
Categories: Price Cuts · Show The Numbers · Something For The Haves
Daily Price Cuts September 8th
Daily Price Cuts For NYC Sales Courtesy of
OLR.
Today we have a long list. Sellers are ready to make a deal as we enter into the Fall season.
Categories: Price Cuts
Something For The Haves.
Jennifer Esposito Lists
Courtesy of
Cityfile.
Jennifer Esposito is looking to sell in the Village. The actress has put her one-bedroom apartment at 23 East 10th Street on the market, along with the one-bedroom co-op she owns upstairs. The two apartments, which Esposito once planned to combine into a duplex, are currently listed for a combined $1.435 million.
Listed by Stephanie L. David of
Mark David
Categories: Celebrity Real Estate · Something For The Haves
NY1 Report September 5th
The weekly report courtesy of
NY1.The delicious Jill Urban reports.
Categories: Real Estate News
Trump Condo-New Listing $13.5 million
The Trump Tower listing says the views stretch to the Catskill Mountains- [NYO]
Categories: Something For The Haves
Biggest Price Cut of The Day- Courtesy of OLR.
Something For The Haves.
17 west 64th street- The Penthouse-from $4,750,000 to $4,495,000 not a huge cut today with only a 5.5% drop of $255,000. This apartment has only been on the market for 4 weeks and is listed by Jill Sloane of Halstead Properties.
Show Me The Numbers.
17 West 64th Street- Co-operative.
$4,495,000
1400 Square Feet
$3120 maintenance
3 Bedroom
2 Bathroom
1 Wraparound Terrace
1 Wood Burning Fireplace
Categories: Price Cuts · Show The Numbers · Something For The Haves
Daily Price Cuts August 31st
Categories: Price Cuts
Something For The Haves.
And here it is, not a scalpel but a machete was used today to hack away at 655 Sixth Avenue-The O’Neil Building
#5B reducing the value from $5,995,000 to $5,000,000, a slice equal to 16.6%. Boy that’s a nice, slice.
Listed by John B. Gomes- Core Group Marketing
Can I get a drum roll please as we play…
Show Me The Numbers.
655 Sixth Avenue – A condominium
$5,000,000
1887 Erected
2989 Square Feet
3 Bedrooms
3.5 Bathrooms
1,491 Common Charges – not bad at all
3,141 Taxes – excuse me while I scream “What the *#!K?”
14 foot ceilings
36 x 28 Living Room
Categories: Price Cuts · Something For The Haves
Daily Price Cuts For New York Apartment Sales-Courtesy of OLR.
Daily Price Cuts - August 28th
Categories: Price Cuts
Something For The Haves.
New York City’s Most Notable Real Estate Deals.
Courtesy of Cityfile.
Hampton's Home For Sale
Blackstone Group co-founder Steve Schwarzman and his wife Christine have put their East Hampton home on the market. The 2.1-acre property, which the couple purchased for $2.3 million in 1996, is listed for $7.2 million. The couple will hardly be homeless if and when they sell it. The Schwarzmans are finishing up construction work on the much larger estate in Water Mill they agreed to buy in 2005 for $34 million. [WSJ, BHS]
• Developer Bruce Ratner has sold his 4,500-square-foot home in Montauk to art dealer David Zwirner for $10 million. He’s reportedly looking for a “less pricey” estate in Quogue. [NYP]
• Actress Molly Shannon has sold her apartment at 66 Ninth Avenue for $2.61 million. The three-bedroom pad, which Shannon bought for $1.6 million in 2003, had been listed most recently for $2.85 million. [Real Deal]
Categories: Celebrity Real Estate · Something For The Haves
Something For The Wanna Haves.
Prices Cut on Most Remaining One Hanson Units-Courtesy of Brownstoner
Price Cuts - One Hanson Place
Categories: Price Cuts · Real Estate News · Something for the wanna haves
Here’s Something For The Haves.
136 east 79th S #11A was given a whopping cut from $7,500,000 to $6,200,000. That’s a 17.3% slice.
Show Me The Numbers.
136 east 79th street #11A (Co-op)
$6,200,000
$4632 maintenance
3 Bedrooms
3 Bathrooms
4 Wood burning fireplaces
1 maid’s room
39 weeks on the market
Categories: Price Cuts · Real Estate News · Show The Numbers · Something For The Haves
Daily Price Cuts For Apartment Sales Courtesy of OLR.
Daily Price Cuts August 25th 2009
Categories: Price Cuts · Real Estate News
Something For The Haves.
A huge drop today at 166 east 61st street from $2,500,000 to $1,995,000. An axe was taken to this listing price with a $505,000 cut or 20.2% according to OLR.
Show Me The Numbers.
166 east 61st street
$1,995,000
1983 Co-Operative
$3909 maintenance -(ouch!)
3 Bedrooms
3 Bathrooms
2 Views looking East and South
Listed by Richard M. Silverman of Belmarc Realty
Categories: Price Cuts · Show The Numbers · Something For The Haves
Daily Price Cuts August 24th
Daily Apartment Sales Price Cuts Courtesy of OLR.
Categories: Price Cuts · Uncategorized
Manhattan’s most notable real estate news courtesy of Cityfile.
Real Houswives star Jill Zarin and her husband, Bobby, put their apartment on the market just six weeks ago. But they’ve already been forced to drop prices. The three-bedroom condo at 401 East 60th Street, which the Zarins put up for sale for $3.2 million in July, is now $2.995 million. [Cityfile, PDE]
• Former Treasury Secretary W. Michael Blumenthal and his wife, Barbara, have purchased an apartment at 1095 Park Avenue. The couple, who sold their former home at 550 Park Avenue to socialite Phyllis Mack in January 2008, paid $5.6 million for the two-bedroom apartment. [Cityfile]
• Fortress Investment Group co-founder Randal Nardone has dropped the price of his 4,456-square-foot condo at 240 Riverside Boulevard, six months after putting it on the market for $11.75 million. The former billionaire, who picked up a massive apartment at 101 Warren Street last November for $22 million, has listed his former pad for $10.95 million. [Cityfile, Corcoran]
Categories: Uncategorized
NY 1 August 24th 2009
The weekly real estate report courtesy of
NY1.
If you would prefer to sell your home but are not getting the price you need maybe you will turn to renting your home. These are some of the important responsibilities and pitfalls you will need to know.
1. You must list the price at market or slightly lower. The high level of inventory give’s renters the advantage. To succed in renting your home it must be priced as a good deal.
2. Do your homework before accepting a tenant-you must screen the applicant. Verify who they are, their financial and work background. Credit, criminal and personal checks are necessary.
3. You must let the tenant know that you wish to sell the property in the near future when the market can offer a better price.
4. The lease should state that you wish to sell the property and that the tenant must allow for open houses and private viewings. You should also have a termination clause in the lease in the vent that you do sell.
Categories: Real Estate News
Daily Price Drops- Courtesy of OLR
Daily Price Drops-August 20th 2009
Categories: Price Cuts
Something For The Haves.
Masterfully compiled by [Cityfile]
Alec Baldwin has put his longtime co-op in the Eldorado on Central Park West on the market for $8.9 million. He’s reportedly thinking about trading it in for a four-bedroom apartment at the Dakota, which has been reduced from $24 million to $12.5 million over the past year. [NYP]
• Former GE CEO Jack Welch is in contract to buy a three-bedroom pad at One Beacon Court that’s next door to the condo he already owns. The 2,669-square-foot space was most recently listed for $8.995 million. Listed by-Brown Harris Stevens]
• New York Times columnist Paul Krugman and his wife, Robin Wells, have paid $1.7 million for former Times reporter Joseph B. Treaster’s three-bedroom co-op at 110 Riverside Drive. Meanwhile, the couple is currently in contract to sell their former apartment, a one-bedroom at 304 West 89th Street that was most recently listed for $599,000. Listed by Corcoran]
• Fashion heir Antonio Versace has paid “a little less” than $2.7 million for a two-bedroom condo at 44 Mercer Street.
• Dr. Richard Kaul has dropped the price of his townhouse at 69 West 83rd Street, which he bought for $3.6 million in 2005 and put on the market for $14 million last month. The manse is now listed for $10 million. [Cityfile, PDE]
• Real estate investor Michael Hirtenstein is reportedly paying $16.5 million for five units on three floors of the Enrique Norten-designed One York. [NYP]
Categories: Celebrity Real Estate · Something For The Haves
