Manhattan Homes

Harlem residents protest charter school … and more

admin — Fri, 03 Sep 2010 21:00:00 +0000

1. Bedbugs discovered at Google’s Chelsea headquarters [NYO]
2. “Law and Order” star Mariska Hargitay buys $7.34 million Hamptons property [Real Estalker]
3. Billy Joel lowers price for Sagaponack home, now asking $19.9 million [Newsday]
4. Downtown’s Flea Theater artist space to launch capital campaign for relocation [Crain’s]
5. St. Nicholas House residents in Harlem petition against new charter school [NYDN]
6. $5.2 million unit closes at the Devonshire pre-war condo conversion in Central Village [Curbed]
7. Harlem Tavern bar to replace auto shop on 116th Street and Frederick Douglass Boulevard [Crain’s]
8. Williamsburg’s 777 Driggs moving toward completion [Brownstoner]
9. Why are there no skyscrapers in Manhattan loft buildings? [Real Town]

Alexico hit with $197M suit at Flatotel

admin — Fri, 03 Sep 2010 20:30:00 +0000

Simon Elias (left), Flatotel at 135 West 52nd Street and Izak Senbahar

Alexico Group is facing a $196.7 million lawsuit at the Flatotel, after Atlas Capital accused the developer of defaulting on the property’s mortgage loans. According to the suit, filed in New York State Supreme Court yesterday, Alexico borrowed $158 million from Anglo Irish Bank in January 2008 to develop the property, located at 135 West 52nd Street. But the developer allegedly failed to make three consecutive interest payments on the loan starting in January 2009 and was notified of the default in April 2009. The complaint alleges the developer then failed to make additional monthly interest payments between April 2009 and July 2010, leading the lenders to accelerate the payments due and call in the entire loan. [more]

SL Green to gain $66M from 510 Madison

admin — Fri, 03 Sep 2010 20:00:00 +0000

SL Green Realty is expected to gain $66 million profit on the sale of 510 Madison Avenue, according to a report from FBR Capital Markets cited by Nasdaq. The real estate investment trust owned $280.5 million of senior and mezzanine debt on the property that was paid in full when Boston Properties acquired the building from Macklowe Properties last month. Boston Properties paid about $316 million, or about $904 per square foot, for the vacant Midtown property. [more]

BlackRock to assess industry’s CMBS losses

admin — Fri, 03 Sep 2010 19:30:00 +0000

Investment management firm BlackRock was hired by state insurance regulators to evaluate the industry’s potential losses from holding commercial mortgage-backed securities, Bloomberg news reported. By the end of the year, BlackRock will review more than 7,000 securities, the National Association of Insurance Commissioners said yesterday in a statement. The New York-based firm will calculate loss expectations for the holdings, which will determine how much capital insurers must hold to cushion potential declines, NAIC said. [more]

Two Trees to buy building from Moinian

admin — Fri, 03 Sep 2010 19:00:00 +0000

David and Jed Walentas, the father-and-son real estate team that heads Two Trees Management, are in contract to buy a $129.5 million Chelsea office building from Joseph Moinian’s the Moinian Group, the Observer reported. In an off-market deal, the company gave a hard deposit last Friday for the 340,000-square-foot loft building at 50 West 23rd Street, next to Home Depot. The acquisition is scheduled to close within the month. [more]

A Grain of Salt on Thursday’s Pending Sales Report

admin — Fri, 03 Sep 2010 18:59:55 +0000

Economist David Rosenberg urged a note of caution when reading Thursday's positive pending home sales report.

Stalled Williamsburg project gets new start

admin — Fri, 03 Sep 2010 18:30:00 +0000

A stalled waterfront project at 11 Broadway in South Williamsburg is being revived by L+M Development Partners and Goldman Sachs Urban Investment Group, with both parties closing this week on financing for the mixed-use development site, Crain’s reported. The project will include 134,000 square feet of residential space, 27,000 square feet of retail and commercial space, plus 29,000 square feet underground for parking. Construction on the proposed $70 million development is expected to begin at the end of the month with a projected completion date of 2012. [more]

“Like the postman,” Hamptons agents show listings — even with Earl at the door

admin — Fri, 03 Sep 2010 18:00:00 +0000

From left: Judi Desiderio, Chris Burnside, Susan Breitenbach, Bob Gianos and Harald Grant

While Labor Day weekend on the East End can present many hazards -- traffic jams and crowded beaches, for starters -- the specter of Hurricane Earl has presented an array of additional problems, especially for agents trying to squeeze in as many showings as possible during the last weekend of the summer. "Flying furniture," in particular, is a major concern, said Judi Desiderio, CEO of East End-based Town & Country real estate. "You could literally have lounge chairs up in the air and in the pool," Desiderio said. "That's a biggie, especially if you're showing a property on the water.” But out of town buyers are often unaware of the dangers inclement weather present in the Hamptons, Desiderio said. [more]

Priciest, cheapest units to hit the market

admin — Fri, 03 Sep 2010 17:30:00 +0000

From left: 88 Central Park West and 516 East 78th Street

The priciest Manhattan home to hit the market this week is an eight-bedroom co-op in the Brentmore, at 88 Central Park West in Lincoln Square, according to Streeteasy.com. As The Real Deal first reported, the 14-room, two-floor residence, on the market for $25 million, belongs to heiress Laurie Tisch, who is moving to the 834 Fifth Avenue co-op she bought last year for $29 million. The building, designed by architectural firm Schwartz and Gross, was completed in 1910 but recently underwent a restoration, and now has a library, den, wet bar, central air conditioning and a modern sound system. Cindy Kurtin and Jessica Vertullo of Stribling & Associates have the listing. The cheapest Manhattan unit to come online this week is a one-bedroom, one-bathroom co-op at 516 East 78th Street on the Upper East Side. The $239,000 pre-war unit is being marketed by Doug Eichman of the Corcoran Group. Click here for more.

Quinn receives thousands in Vornado donations through campaign finance loophole

admin — Fri, 03 Sep 2010 17:00:00 +0000

City Council Speaker Christine Quinn has received thousands of dollars in campaign contributions from Vornado Realty Trust through a loophole in campaign finance regulations, despite publicly praising a three-year-old law that was supposed to limit the amount that individuals doing business with the city are allowed to contribute, to $400 each. According to Crain's, Quinn received $19,900 from Vornado executives, nearly $15,000 of which is being held in an account saved for her expected 2013 mayoral campaign. The donations began coming in around the same time the city began building a database of companies doing business with the city as part of the new campaign finance law, which passed in 2007. Last week, the City Council approved Vornado's proposed skyscraper at 15 Penn Plaza with Quinn's support, despite resistance from Community Board 5. [more]

Great Corner 2BR / 2 Bath with Dining Area and breath taking River Views

admin — Fri, 03 Sep 2010 16:41:46 +0000

WebID 29302

Riverside Boulevard

120 Riverside Boulevard

Upper West Side

Water view
Washer/Dryer
Water front
Dining Room

Amir Cohen

tel: 646.262.1800

mobile: 646.262.1800

amirc@nestseekers.com

Best price per sqaure foot in The Avery – Large 1 Bedroom / Conv. 2 – Motivated Seller

admin — Fri, 03 Sep 2010 16:41:46 +0000

WebID 29303

Brand new construction with stainless steel appliances:
- Stainless Steel Sub-Zero Fridge
- Stainless Steel LG Microwave
- Stainless Steel Miele Stove
- Stainless Steel Miele Oven

The apartment also features granite counter tops in the kitchen and full marble bath and a brand new washer/dryer unit in the apartment.
In ADDITION, the apartment also comes with 1 storage unit in the basement.
This building is a full service white glove building with an exclusive fitness center (inclusive in the rental price), adaptable entertaining room, 24-hr library equipped with wifi, gaming room with billiards table, media screening room and a childrens playroom.

The building is located on the Hudson River promenade. Just steps away, one will find New York City's finest restaurants and markets such as Citarella, Fairway and Balduccis (the best shopping is only minutes away as well). Whether it be Time Warner's upscale shopping arcade or the vast selection of stores on Broadway's Upper West Side, everything is close by and BEST OF ALL, The Rushmore is conveniently located only 2 Blocks away from Lincoln Center; New York City's icon for entrainment an culture.

100 Riverside Boulevard

Upper West Side

Washer/Dryer
Water front

Amir Cohen

tel: 646.262.1800

mobile: 646.262.1800

amirc@nestseekers.com

Best Priced 1 Bedroom at Trump Place 220 Riverside Blvd.

admin — Fri, 03 Sep 2010 16:41:46 +0000

WebID 29304

Trump Place

220 Riverside Blvd New York New York 10069 UNITED STATES

Upper West Side

Washer/Dryer
Dishwasher
Hardwood Floors
A/C units

Amir Cohen

tel: 646.262.1800

mobile: 646.262.1800

amirc@nestseekers.com

Stunning Midtown West 2 BR, 2 BA with Amazing City Views, Manhattan Homes, Clinton, Hell’s Kitchen Condo

admin — Fri, 03 Sep 2010 16:41:46 +0000

WebID 29305

2 Bedroom 2 Bath Suite in Clinton!!!

2 bedroom, 2 bath unit, 976 sq ft, in The Link, a full-serviceluxury building. Enjoy beautiful, open city views with great light andgorgeous sunsets, North and West exposures. This unit has double-panefloor-to-ceiling windows, oak hardwood floors, and high ceilingsthroughout. The second bedroom is windowed and can also be used as ahome office and is equipped with a frosted glass door.

Allof the closets have been customized, and the unit has been upgraded inmany ways, including custom lighting, additional Poggenpohl cabinetryand glass tile work. The apartment is also fully equipped with high-endstainless steel appliances (Sub-Zero refrigerator, Bosch stovetop, ovenand microwave, Bosch “hidden” dishwasher, as well as a Boschwasher/dryer). Also included with this sale is a spacious and secure$30,000 personal storage unit in the building basement.

The Link is a full-service building with 24-hour concierge/doorman, free state-of-the-art gym, and indoor garden.

Building Amenities

Doorman	Gym
Elevator	Pets Allowed

Listing Amenities

Dishwasher

Storage Available

Washer/Dryer

The Link

310 W 52nd St

Midtown West

Washer/Dryer
Dishwasher
Garbage Disposal
Central A/C
Hardwood Floors

Jason L. Hargrove

tel: 718.415.9829

mobile: 646 801.2323

jasonh@nestseekers.com

Kelcey D. Gosserand

tel: 212.252.8772 x407

mobile: 347-641-9736

kelceyg@nestseekers.com

MOTIVATED SELLER !!! Huge Full Floor Apartment with 360 degree open River and City Views in Brand New Condo

admin — Fri, 03 Sep 2010 16:41:46 +0000

WebID 29301

MOTIVATED SELLER - $555,000 PRICE CUT

Welcome to The Rushmore. Riverside boulevards newest home for New York\'s finest. Conveniently located in Manhattan\'s posh Upper West Side, residence 32CD boasts 3600 square feet. This full floor residence will take your breath away with unlimited and unobstructed city and river views. As you step inside this palatial home, you will find nothing but the best. This gracious residence commences with an expansive foyer which leads into the home. This unit features five bedrooms each with en suite full baths and plenty of closet space. Each bathroom has polished limestone and custom wood vanities all punctuated with Waterworks finest fittings. The large eat-in open kitchen features granite counter tops along with Sub-Zero, Viking, and Miele appliances. The formal living room and dining room serve as your perfect entertaining areas. This unit also features a separate laundry room with a full size washer and dryer. The Rushmore\'s unique luxurious living is highlighted through it\'s state of the art gymnasium & \'La Palestra\' spa, featuring private yoga and massage rooms. Beyond this, there is a spectacular full size indoor swimming pool, children\'s play room, private screening room and a billiards room (On site parking is available as well). Many more amenities compliment this new condominium residence which one must see to believe. Besides the perfectly executed amenities on site, the Rushmore is located on the Hudson River promenade. Just steps away, one will find New York City\'s finest restaurants and markets such as Citarella, Fairway and Balduccis (the best shopping is only minutes away as well). Whether it be Time Warner\'s upscale shopping arcade or the vast selection of stores on Broadway\'s Upper West Side, everything is close by and BEST OF ALL, The Rushmore is conveniently located only 2 Blocks away from Lincoln Center; New York City\'s icon for entrainment and culture. In conclusion the best of New York is right at your doorsteps. Please call for your private viewing today.

Rushmore NYC Condominium

80 Riverside Boulevard.

Upper West Side

Pool
A/C units
Water view
Dining Room
Washer/Dryer
Water front

Amir Cohen

tel: 646.262.1800

mobile: 646.262.1800

amirc@nestseekers.com

120 Greenwich Street, Apt. 6H, Greenwich Place Condominium, Financial District Real Estate, 1BR in a Boutique Condominium

admin — Fri, 03 Sep 2010 16:41:46 +0000

WebID 29023

Great 1 BR / 1 Bath in Boutique Condominium located inthe heart of the Financial District. Its perfect to live in orpurchase as an investment.

The apartment features include10 and a half foot high ceilings, over-sized double-paned windows, lotsof light, beautiful heart pine floors, great closet space and storage. Open kitchen with stainless steel appliances including a Boschdishwasher, microwave and Liebherr refrigerator. The bathroom is aluminous blend of stain white glass tile walls and limestone.

Thebuilding offers 24-hours doorman, live-in super, roof deck, fitnesscenter, laundry room and private storage. Greenwich Place Condominiumlocated minutes from the city's best green spaces including BatteryPark, Rockefeller Park and the new W New York Downtown Hotel. Thenear by subway lines include: 4, 5, R, E, 2, and 3.

Greenwich Place

120 Greenwich St

Financial District

Washer/Dryer
Dishwasher
Central A/C
Hardwood Floors

Adrian Lupu

tel: 917-749-3113

AdrianL@nestseekers.com

Ania Goclowska

tel: 212.252.8772 ext. 485

mobile: 917.353.7721

Aniag@nestseekers.com

Fannie’s path to ownership

admin — Fri, 03 Sep 2010 16:30:00 +0000

If you fit the profile -- typically buyers with little cash on hand or small-scale investors looking for a deal on a foreclosed house -- a little publicized national lending program could be just what you need this fall. Here's what it offers:
-- Minimal down payments -- 3 percent for buyers who plan to live in the house, 10 percent for investors. Most of your down payment can come from documented gifts from relatives or others with no direct connection to the transaction.
-- No requirement for an appraisal on the property unless you're applying for additional money to renovate the house. This is crucial because lowball appraisals can be deal-killers, especially when the house needs cosmetic or other repairs.
-- Generous "seller contribution" limits of up to 6 percent of the price, effectively reducing the cash you'll need to pay closing costs.
[more]

Tiger’s former mistress buys $2M Park pad

admin — Fri, 03 Sep 2010 16:00:00 +0000

Days after rumors swirled regarding Tiger Woods' purchase of a Hudson Street apartment, his former mistress Rachel Uchitel has purchased a three-bedroom, three-bathroom apartment on Park Avenue, TMZ reported, though the address was not immediately known. The unit was asking $2 million, but Uchitel -- who reportedly has an extra $10 million in her bank account from a deal with Woods -- secured a “pretty sweet deal” for the place, according to TMZ. The apartment features a fireplace, as well as “white-glove service,” including a doorman and security. [more]

Columbia seeks more space in Inwood

admin — Fri, 03 Sep 2010 15:30:00 +0000

Columbia University is seeking to acquire more land along the Harlem River to legally construct a new sports complex at Broadway and 218th Street in Inwood, DNAinfo reported. A city law requires property owners on the Manhattan shoreline to set aside a predetermined percentage of the land for public use when building a new structure, but since Columbia doesn’t have the required amount, it is asking the city to allow it to acquire and develop additional space. To build the planned five-story, 48,000-square-foot Steven Holl-designed Campbell Sports Center, the school would normally have to set aside 180,000 square feet of additional city-owned public waterfront space, according to Wayne Benjamin, Community Board 12's land use chair. [more]

Summer started slow, but brokers saw uptick

admin — Fri, 03 Sep 2010 15:00:00 +0000

From the September issue: The National Association of Realtors reported last month that home sales nationwide dropped by 27 percent between June and July -- a phenomenon largely attributed to the expiration of federal housing tax credits. The bleak news sent the stock market into a nosedive and gave more credence to the national conversation about a possible "double-dip" recession. Yet Manhattan real estate brokers said they're seeing an increase in activity as the summer draws to a close, suggesting a strong fall market may be in the works. "Business has been building," said Frances Katzen, an executive vice president at Prudential Douglas Elliman. "People are buying through the summer months and property is moving. This is a far cry from last summer." Ryan Fitzpatrick, sales associate at the brokerage CORE, said that in light of the strength of demand this summer, he "expects the market will be robust through the fall. [more]

Real estate funds top other investments

admin — Fri, 03 Sep 2010 14:30:00 +0000

Despite bleak market conditions, mutual funds and exchange-traded funds in the real estate sector have rebounded during the past year, the Wall Street Journal reported. Real estate has been the top-performing U.S.-stock fund category this year, through August, with a 13.7 percent total return, according to Morningstar, compared with a negative 4.6 percent for the Standard & Poor's 500-stock index over the same period. Real estate funds typically invest in commercial real estate and multi-family -- not single-family -- housing. They also tend to concentrate on real estate investment trusts, or REITs. [more]

SI sees 90% rise in scheduled foreclosures

admin — Fri, 03 Sep 2010 14:15:00 +0000

(source: PropertyShark)

Newly scheduled residential foreclosure auctions rose by 90 percent in Staten Island last month, reversing the dip seen in July and prolonging the borough’s year-long pattern of dramatic ups and downs, according to new data from PropertyShark.com. Still, the borough’s 38 scheduled foreclosures, up 111 percent since last year at this time, were just a small fraction of the 139 scheduled in Queens in August, which continues to lead the city by far in terms of new home foreclosure volume. Queens’ foreclosure auctions first scheduled during August were up 11 percent month-over-month and 1 percent year-over-year. Of the top 15 zip codes in the city for scheduled foreclosure auctions last month -- including both those just scheduled in August and those scheduled previously -- the first 13 were in Queens. The 14th and 15th zip codes were located in Staten Island. [more]

Real Estate News: Mortgage Rates Fall to 4.32%

admin — Fri, 03 Sep 2010 13:43:48 +0000

Here's a look at the real estate news in today's WSJ.

House Tour: New Preston, Conn.

admin — Thu, 02 Sep 2010 21:22:18 +0000

On Lake Waramaug, a converted boathouse has a stone foundation, a wraparound deck and direct access to the water.

Square Feet: A Detroit District Thrives by Building on the Past

admin — Thu, 02 Sep 2010 21:11:37 +0000

Developers in Midtown are refurbishing older buildings, using tax credits and public financing, as much as they are building from scratch.