Archive for March, 2010
$1,395,000 1 BR in Union Square
March 31st, 2010
Posted in Manhattan Sales
New York NY Union Square
Web ID#: 26689
Property Type: Mid-rise
Beds: 1
Baths: 1
Price: $1,395,000
 view full listing |
IMMEDIATE OCCUPANCY *Sponsor to pay a total of 5 years Real Estate Taxes at closing based on current tax assessment.* With Interior Design. New concept in urban living, where classic architecture is given an edge. New York’s great downtown loft tradition gets a modern twist with Pods: jewel-like lacquered boxes that seem to float in each residence. Must see this Building ! Loic KESSL Nestseekers International 917 340 5627 loick@nestseekers.com |
| Loic Kessl direct: 212.252.8772 cell: 917.340.5627 loick@nestseekers.com |
|
Comments Off $3,095 1 BR in Midtown East
March 31st, 2010
Posted in Manhattan Rentals
New York NY Midtown East (42-59)
Web ID#: 26688
Property Type: Hi-rise
Beds: 1
Baths: 1
Rent: $3,095
 view full listing |
Huge loft like 1 bedrm apartment w swimming pool in bldg available!! This is a pet friendly building located in the Sutton Place neighborhood of NYC. The apartment features a vast amount of residential space, high ceilings and tons of closet space. The building features:Bicycle Room; Garage; Water Filtration System; Garden; Health Club; Pool; Sauna; Laundry Room; Maid Service; Valet; Nursery; Playground; Lounge; Rooftop Deck; Common Storage Room; High Speed Internet Access; |
| Racquel K McPherson direct: 212.252.8772 cell: 917.414.0387 racquelm@nestseekers.com |
|
Comments Off Freddie Mac Eases Rules for Some Florida Condos
March 31st, 2010
Posted in Real Estate News
Freddie Mac said on Wednesday it would relax some rules that have made it harder to get mortgages for condominium units in Florida. The move could make it easier for some owners to sell their units.
Last year, Freddie Mac and its larger rival Fannie Mae tightened lending rules for condos, reducing financing options for buyers in troubled buildings, including those where a high share of borrowers were renting out units or were delinquent on association dues.
On Wednesday, Freddie said it would wave some of those rules over the next year on units where the mortgage was already owned or backed by the company. Real-estate agents have complained that tougher financing rules have put even greater pressure on prices by limiting the pool of potential buyers to those who can make big down payments. The change shouldn’t require Freddie to take on any more risk because it will simply trade one mortgage for another.
Fannie Mae, which allows exceptions to its rules on a case-by-case basis for established buildings that meet its standards, said in January it would institute a review of all Florida condos to provide a special designation for “sufficiently stable” buildings that would automatically exempted from tighter rules.
Comments Off Freddie Mac Eases Rules for Some Florida Condos
March 31st, 2010
Posted in Real Estate News
Freddie Mac said on Wednesday it would relax some rules that have made it harder to get mortgages for condominium units in Florida. The move could make it easier for some owners to sell their units.
Last year, Freddie Mac and its larger rival Fannie Mae tightened lending rules for condos, reducing financing options for buyers in troubled buildings, including those where a high share of borrowers were renting out units or were delinquent on association dues.
On Wednesday, Freddie said it would wave some of those rules over the next year on units where the mortgage was already owned or backed by the company. Real-estate agents have complained that tougher financing rules have put even greater pressure on prices by limiting the pool of potential buyers to those who can make big down payments. The change shouldn’t require Freddie to take on any more risk because it will simply trade one mortgage for another.
Fannie Mae, which allows exceptions to its rules on a case-by-case basis for established buildings that meet its standards, said in January it would institute a review of all Florida condos to provide a special designation for “sufficiently stable” buildings that would automatically exempted from tighter rules.
Comments Off Freddie Mac Eases Rules for Some Florida Condos
March 31st, 2010
Posted in Real Estate News
Freddie Mac said on Wednesday it would relax some rules that have made it harder to get mortgages for condominium units in Florida. The move could make it easier for some owners to sell their units.
Last year, Freddie Mac and its larger rival Fannie Mae tightened lending rules for condos, reducing financing options for buyers in troubled buildings, including those where a high share of borrowers were renting out units or were delinquent on association dues.
On Wednesday, Freddie said it would wave some of those rules over the next year on units where the mortgage was already owned or backed by the company. Real-estate agents have complained that tougher financing rules have put even greater pressure on prices by limiting the pool of potential buyers to those who can make big down payments. The change shouldn’t require Freddie to take on any more risk because it will simply trade one mortgage for another.
Fannie Mae, which allows exceptions to its rules on a case-by-case basis for established buildings that meet its standards, said in January it would institute a review of all Florida condos to provide a special designation for “sufficiently stable” buildings that would automatically exempted from tighter rules.
Comments Off Renovation leads to big debt in preservation effort for Bed-Stuy brownstones
March 31st, 2010
Posted in Real Estate News
When a Bedford-Stuyvesant brownstone saw one of its walls collapse during a dubious renovation in January, few could have anticipated the community conflict that would emerge from the accident. While homeowner Robert Providence said that the unlicensed work that led to the collapse, which was being conducted in the basement of his $770,000 townhouse at 329 MacDonough Street, was done without his permission, the onus fell on him to restore his home in Bed-Stuy’s historic district. Although city officials had originally ordered the building be demolished due to safety concerns, neighbors successfully lobbied to keep it around. Providence has since wound up with hundreds of thousands of dollars in debt, but preservationists are happy — even if they can’t show their enthusiasm monetarily. “No one has the money to help,” Providence said.
Comments Off Sales up, prices down in Manhattan housing market
March 31st, 2010
Posted in Real Estate News
The number of Manhattan sales dropped 45 percent to 7,430 between 2007 and 2009, according to The Real Deal’s 2010 data book (click here to read the entire residential housing market history section from the data book), but rose 8.4 percent between fourth-quarter 2008 and the last three months of 2009. The median sales price in the fourth quarter of 2009 was down 10 percent to $850,000 in the prior-year quarter. The average sales price in fourth-quarter 2009 was also down, by 12.7 percent to $1.3 million year-over-year. Meanwhile, there was a steep decline in inventory in the fourth quarter in the borough, attributed to pent-up demand, low interest rates and lower prices, according to the data book. “We saw fewer price cuts, and those price cuts were not as deep,” said Sofia Song, vice president of research at Streeteasy. To purchase the 2010 data book, click here or see the link at the top of The Real Deal Web site. TRD
Comments Off $2,400,000 2 BR in Wall St/Seaport/Battery Park
March 31st, 2010
Posted in Manhattan Sales
New York NY Wall St/Seaport/Battery Park (Chambers and down)
Web ID#: 26686
Property Type: Hi-rise
Beds: 2
Baths: 3
Price: $2,400,000
 view full listing |
Apartment Features AC: Central; Kitchen: Dishwasher; Window: Oversized Windows; Washer/ Dryer; High Ceiling; Exposure / View Building Description Building Amenities Building Policies Access Building Notes: * Located on the far eastern part of Wall Street, just off Water Street and a block away from the East River. |
| Bruce Mishell direct: 212.714.0717 brucem@nestseekers.com |
|
Comments Off New documentary promises to expose alleged Lennar fraud
March 31st, 2010
Posted in Real Estate News
National home builder Lennar is getting the Hollywood treatment with a new film by former securities fraudster-turned-producer Barry Minkow. But based on the just-released trailer, Lennar execs won’t be shining their shoes for their moment on the red carpet any time soon. In “Too Big to Go to Jail: The Lennar Story” Minkow’s Fraud Discovery Institute promises to “reveal a disturbing pattern of apparent fraudulent behavior by Lennar ranging from the falsification of government documents to the utilization of joint ventures to conceal debt and siphon cash from unwitting joint venture partners.” Lennar has denied the accusations and sued Minkow for libel. The documentary is slated for an initial, limited release in the “communities most devastated by Lennar,” Minkow said, and he told the Wall Street Journal that he’s in talks with cable networks for a special that could air this summer. TRD
Comments Off $1,950 0.5 BR in Wall St/Seaport/Battery Park
March 31st, 2010
Posted in Manhattan Rentals
New York NY Wall St/Seaport/Battery Park (Chambers and down)
Web ID#: 26685
Property Type: Hi-rise
Beds: 0.5
Baths: 1
Rent: $1,950
 view full listing |
Amazing studio with river views, lots of closet space, separate kitchen.
ALL AMENITIES INCLUDED: • 24 hour Concierge • CLUB – a 12,000 + SF event center with hotel quality facilities and amenities including: o THE GYM- Light-filled fitness center with the newest equipment and spectacular views through walls of glass -Laundry Room on Every Floor Net effective rent. 1 Bedroom for $2,850. Loic KESSL Nestseekers International 917 340 5627 loick@nestseekers.com |
| Loic Kessl direct: 212.252.8772 cell: 917.340.5627 loick@nestseekers.com |
|
Comments Off $3,295 in Soho Tribeca
March 31st, 2010
Posted in Manhattan Rentals
New York NY Soho Tribeca (Chambers-Houston West Broadway)
Web ID#: 26684
Property Type: Loft
Baths: 1
Rent: $3,295
 view full listing |
AC: Central; Kitchen: Newly Painted; Dishwasher; Bathroom: Newly Painted; Loft-like Apartment; High Ceiling; Home Office; WIC;
Building Amenities |
| Lakwan M. Anderson direct: 212.252.8772 ext 404 cell: 917.359.5321 lakwana@nestseekers.com |
|
Comments Off Canada beats U.S. in real estate recovery … and more
March 31st, 2010
Posted in Real Estate News
1. Signage goes up at Andaz Fifth Avenue [Hotel Chatter]
2. Obama adviser cautions about underperforming banks [AFP via Yahoo!]
3. State construction projects suspended [AP via Post]
4. Residents blue over Westchester views marred by tree cutting [Bloomberg]
5. Mortgage rates to climb, analysts say [Herald Tribune]
6. Real estate recovery stronger in Canada than US: report [Seeking Alpha]
7. BofA tower owners want to refi, again [Crain's]
8. Brooklyn waterfront development has far-reaching, polarizing effect [NYO]
9. Tour operator opens up shop in Midtown [Crain's]
10. UES home hits market for $28 million [Realestalker]
Comments Off $2,295 in Greenwich Village
March 31st, 2010
Posted in Manhattan Rentals
New York NY Greenwich Village (Houston-1 West Broadway)
Web ID#: 26683
Property Type: Mid-rise
Baths: 1
Rent: $2,295
 view full listing |
Kitchen: Windowed; Dishwasher; Corner Apartment; Wood Floors; Custom Closets
Available for April 1st, Brand New Corner Studio listing with South/East Exposure bringing in All-Day natural Light! THE BUILDING:24-Hour Doorman; Elevator; On-site Garage; Laundry Facilities; Spectacular Outdoor Plaza; Designed Lobby w/ Terrazzo Marble and Natural Woods; Unrivaled Greenwich Village, City and River Views THE UNITS: High ceilings; Custom closet systems; Parquet Wood Floors; Many Setback Terraces; High Speed Internet Wiring; Self-Controlled Heating and Air Conditioning; Stainless Steel Kitchen Appliances; Dishwashers; Built-in Microwaves; Granite Kitchen Counters; Maple Kitchen Cabinets; Video Intercom; Pets OK CALL OR EMAIL LAKWAN TODAY FOR A SHOWING!!! 917.359.5321 OR LAKWANA@NESTSEEKERS.COM |
| Lakwan M. Anderson direct: 212.252.8772 ext 404 cell: 917.359.5321 lakwana@nestseekers.com |
|
Comments Off 1 BR $3,000 100 United Nations Plaza
March 31st, 2010
Posted in Manhattan Rentals
100 United Nations Plaza
100 United Nations Plaza
New York NY Midtown East (42-59)
Web ID#: 26682
Property Type: Hi-rise
Beds: 1
Baths: 1
Rent: $3,000
 view full listing |
100 United Nations Plaza Building set the standard for luxury and elegance. Mint condition Bright large one bedroom apt. Entrance foyer, bright Living room, dining area, bright bedroom with in suite Marble bath with Jacuzzi tub, great closet space hard wood floors. Cozy and well equip kitchen with stainless steel appliances. Oversized windows with a Northern exposure perfectly positioned to fill the apartment with light. A luxury building with 24 H doorman and Concierge, on the east side of the building there is a Lush plaza dramatically landscaped with handsome fountains. Located just steps away to the United Nations, across from Trump World, World Bar, the Famous Megu Modern Japanese Cuisine, major transportations and more. Showing by appointment only call 917 679 1211 |
| Wendy Jackson direct: 646-443-3735 cell: 917-679-1211 wendyj@nestseekers.com |
|
Comments Off PropertyShark.com bought by California real estate software company
March 31st, 2010
Posted in Real Estate News
From left: PropertyShark founder Matthew Haines and Gordon Morrell, Yardi’s executive vice president and COO
Yardi Systems, a 28-year-old California-based company that specializes in software for real estate investment and property management, announced today that it has acquired the data Web site PropertyShark.com. Yardi said it plans to integrate PropertyShark.com’s real estate data into the Yardi suite of software, but that initially at least, PropertyShark.com will remain as an independent Web site. The current staff will remain in place in their Brooklyn office, said Gordon Morrell, Yardi’s executive vice president and COO. In fact, more staff will be hired as the company expands. “The intent is to help them grow from a regional database to a national database,” said Morrell, who did not disclose the price of the acquisition. While PropertyShark.com will provide useful information to clients of Yardi, those clients will be also able to feed information to PropertyShark.com’s database, he said, though the details of how that will work haven’t yet been worked out. “The data would flow both ways,” Morrell said. A few months ago, Yardi Systems purchased two then defunct real estate publications, Multi-Housing News and Commercial Property Executive, with plans to re-launch them. Morrell said that acquisition is not related to this one.
Comments Off $1,100,000 1 BR in Wall St/Seaport/Battery Park
March 31st, 2010
Posted in Manhattan Sales
New York NY Wall St/Seaport/Battery Park (Chambers and down)
Web ID#: 26681
Property Type: Hi-rise
Beds: 1
Baths: 1.5
Price: $1,100,000
 view full listing |
Apartment Features AC: Central; Kitchen: Dishwasher; WBFP; High Ceiling; Powder Room; WIC; Exposure / View Building Description Building Amenities Building Policies Broker Summary |
| Bruce Mishell direct: 212.714.0717 brucem@nestseekers.com |
|
Comments Off $2,390,000 2 BR in Wall St/Seaport/Battery Park
March 31st, 2010
Posted in Manhattan Sales
New York NY Wall St/Seaport/Battery Park (Chambers and down)
Web ID#: 26680
Property Type: Hi-rise
Beds: 2
Price: $2,390,000
 view full listing |
Call For An Appointment Bruce Mishell Cell: 212-714-0717 Beautiful loft Resideces Starting at $599.000. up to 15,000,000 Apartment Features Kitchen: Dishwasher; Bathroom: Marble; Window: Oversized Windows; Washer/ Dryer; High Ceiling; WIC; Abundant Closets; Custom Closets; Beamed Ceilings; Surround Sound System; Exposure / View
Building Description Building Amenities Building Policies |
| Bruce Mishell direct: 212.714.0717 brucem@nestseekers.com |
|
Comments Off Core wins termination fee at stalled site
March 31st, 2010
Posted in Real Estate News
From left: Shaun Osher, head of Core Group, the site at 158 Madison Avenue and the exterior of the building at 158 Madison Avenue (building photo source: PropertyShark)
Shaun Osher’s Core Group Marketing won a 17-month battle for a $113,800 termination fee it said it was owed after being fired in 2008 as the exclusive sales and marketing agent on a stalled condominium project at 158 Madison Avenue.
The ruling may be hollow, however, because investors in the vacant, T-shaped parcel that has frontage on Madison Avenue and 32nd and 33rd streets, are fighting a private lender seeking to recover $33 million from a loan that is in default on the property.
In October 2008, Core residential real estate brokerage sued the property owner, an affiliate of John Rice and Joseph Ingrassia’s Capstone Business Credit for the termination fee, calculated at $27,777 per month as laid out in a written agreement from when it was hired in November 2007 until it was fired in March 2008.
State Supreme Court Justice Marcy Friedman sided with Core against the ownership entity, 158 Madison Ave Associates, awarding the $113,800 fee plus interest and legal expenses, the ruling published March 25 shows.
The amount of money was just a fraction of the potential $4 million that Core could have earned had the project gone forward, the decision says.
Comments Off Openings and closings: the Psychic Boutique opens, Ellen closes … and more
March 31st, 2010
Posted in Real Estate News
From left: the Psychic Boutique at 497 Myrtle Avenue and Ellen at 122 Ludlow Street
A new taco truck called El Camioncito has opened near Penn Station at the corner of 31st Street and Seventh Avenue. Nearby, the Empire Room, a ground-floor bar in the Empire State Building at 350 Fifth Avenue between 33rd and 34th streets, has opened. A new Irish gastro-pub has had its soft opening at 247 West 30th Street between Seventh and Eighth avenues, with an official opening date planned for April. ?Farther west, the Ink48 hotel at 653 11th Avenue on the corner of 48th Street has opened its new rooftop lounge. In the East Village, two recently-vacated neighboring spaces at 105 Avenue A and 103 Avenue A between 6th and 7th streets are reportedly reopening as one, larger eatery. A new Peruvian restaurant called Bar Paya is opening in the neighborhood as well, on Second Avenue near 4th Street.
Comments Off Some Regions Never Felt Housing Boom, or Bust
March 31st, 2010
Posted in Real Estate News
From the WSJ’s Real Time Economics blog:
By Phil Izzo
The U.S. still is feeling the effects of widespread housing bust, but a new report serves as a reminder that large swaths of the nation didnt experience a boom in home prices and hasnt suffered from the bust.
New York Federal Reserve staffers Jaison R. Abel and Richard Deitz released a report highlighting the stability of upstate New Yorks housing markets. The research notes that while the rest of the U.S. saw a real-estate boom and bust, upstate New York was largely insulated from the cycle.
Despite upstates long-term weak economic growth and population loss, Buffalo, Rochester, and Syracuse all ranked in the top 10 percent of metro areas in terms of home price appreciation in 2009, with Buffalo ranking sixth overall, the authors wrote.
But upstate New York isnt alone in bucking the national trend. Most U.S. metro areas actually experienced more moderate increases in house prices than the nation between 2000 and 2006. In fact, 249 of the 383 metropolitan areas tracked by the Federal Housing Finance Agency saw price increases below the national rate of 8.1% during the boom, Abel and Deitz said. Many of these areas, in turn, didnt experience the resulting bust…
Continue reading on Real Time Economics
Comments Off Do you think it’s ill-advised to end the first-time homebuyer tax credit so shortly after the Fed backs out of the mortgage market?
March 31st, 2010
Posted in Real Estate News
The Real Deal is looking for your feedback on market-related issues. To read an item about the Fed backing out of the mortgage market, click here. Please comment below. If you have questions you’d like posted, please e-mail news@therealdeal.com.
Comments Off Williamsburg to get new mixed-use complex
March 31st, 2010
Posted in Real Estate News
Williamsburg is getting a large new retail and housing complex on the site of a former Shell Station on 351 South 1st Street, the triangular plot surrounded by Keap Street, Grand Street and Borinquen Place, according to Brownstoner. The area is already being fenced in for the planned demolition. The developers, Meier and Albert Babaev, said they’re looking to build a retail strip small in the first phase, after which they’ll erect an apartment tower.
Comments Off LOFT HIGH CEILING Studio $495,000
March 31st, 2010
Posted in Manhattan Sales
New York NY Wall St/Seaport/Battery Park (Chambers and down)
Web ID#: 26676
Property Type: Hi-rise
Baths: 1
Price: $495,000
 view full listing |
Take advantage of this great deal. Center of Financial District – LUXURY FULL-SERVICE BUILDING
APARTMENT FEATURES: Spacious Studio BUILDING AMENITIES: 24H Concierge/Valet Service - Low Common Charge All major Subway trains stops are just around the corner. 5 minutes walking distance away from South Street Seaport. Close to mega store Centry 21, TiffanyTiffany & Co, Hermes, Gucci, Bvlgari and Parada are moving into this area in the near future. Call David 917 302 2489 to schedule an appointment |
| David Hsu direct: 917-302-2489 cell: 917-302-2489 davidh@nestseekers.com |
|
Comments Off Manhattan U.S. attorney steps up mortgage fraud crack down
March 31st, 2010
Posted in Real Estate News
The office of the Manhattan U.S. Attorney is boosting its efforts to crack down on financial fraud with the launch of a new civil frauds unit, U.S. Attorney Preet Bharara announced today. The new unit, headed by Sean Cenawood, the office’s former affirmative civil enforcement coordinator, will target mortgage fraud, bank fraud, and fraud related to federal stimulus spending, among other white collar crimes. More than two dozen attorneys will be devoted to working with the new civil frauds unit and another recently-established unit targeting complex frauds, “using every weapon…to combat financial fraud and to vindicate its victims,” Bharara said. The new unit will be located at the U.S. District Attorney’s Office at 86 Chambers Street. TRD
Comments Off Trump Place
March 31st, 2010
Posted in Manhattan Rentals
Riverside Boulevard, Riverside Blvd West New York City
120 Riverside Boulevard
New York NY Upper West Side (59-96)
Web ID#: 26675
Property Type: Hi-rise
Beds: 1
Baths: 1
Rent: $3,200
 view full listing |
Brand New One Bedroom Listing in Trump! This One Bedroom features seprate dining alcove, facing North with partial river view. If you are looking for large One Bedroom with dining space, this is it. Contact Andy Kim to make an appointment today!! Andy Kim is a broker specialist at Trump Place Condominiums, 120 Riverside Blvd, 200 Riverside Blvd, 220 Riverside Blvd, 240 Riverside Blvd, 200 West End Avenue, The Avery,10 West End Avenue, the Element Condominium at 555 West 59th Street. |
| Andy Kim direct: 646-443-3795 cell: 917-270-0135 AndyK@nestseekers.com |
|
Comments Off