Saturday: March 13, 2010

2:00PMOpen House Open Thread: What's a little rain to a...
What's a little rain to a serious hunter? If you're out and about in the New York City real estate market this weekend, let us know what you're seeing out there: crowd sizes, market conditions, great or gruesome finds, and,...
1:10PMcurbed marketplace: Sunday Open House Roundup
Time for this week's open house roundup from your friends at Curbed Marketplace. More where this came from in our Open House Calendars. And a reminder: sales listings are only $25 this month. Sunday Sales 265 Riverside Drive, 1BR,...
11:10AMCorcoran Sunshine Spring Open House
Visit 12 of NYC's most desirable developments Saturday & Sunday, March 13-14, 11am-5pm Complete Event Guide [Corcoran Sunshine]
11:10AMWeek in Review: Barclays Center Breaks Ground; 1182 Broadway Tenants Evicted
Click the image above to view the full photogallery. This week's top stories: Liveblogging the Barclays Center Groundbreaking!, Illegal Conversion Boots Tenants from 1182 Broadway, Another New Luxury Rental Tower Opens Its Doors, Theater Guru Wants Out of Soho's Celeb-Friendly...

Friday: March 12, 2010

10:41PMLiving In | Old Hill, Conn.: Living in Old Hill, Conn.
Preservation fights can be notably fierce in Old Hill, Conn., a town known for its ponds.
10:05PMMortgage relief aid reaches few homeowners
Hundreds of thousands of homeowners are in limbo waiting to find out if they will be accepted for the Obama administration's foreclosure prevention program. Mortgage - Presidency of Barack Obama - United States - President - Business
9:49PMThe Hunt: The Hunt: When the ‘Wow Factor’ Isn’t the Point
Johnny Krause and Reba Frankel were happy to find a three-bedroom in Sunset Park, Brooklyn, for $342,000.
9:48PMPosting: Brooklyn Bridge Park as Lure for a New Condo
Are the outlines of an ambitious swing-set-and-slide area lifting sales at One Brooklyn Bridge Park?
9:41PMThe Going Gets Tougher
It doesn’t take much to trip up these days and the problem may be a more demanding Fannie Mae.
9:14PMToday Show Features Zillow Real Estate Deals
The home shopping season is fast approaching and with over 4 million homes for sale, Zillow is a great place to start house hunting. This morning, real estate guru Barbara Corcoran appeared on the Today show to showcase just a sampling of the real estate...
8:54PMExtreme Home Makeover Harper Family Held Raffle to Avoid Foreclosure?
The Harper Family home in Lake City, GA, received an Extreme Home Makeover in January 2005. Last year, we reported the Harper's avoided foreclosure for a second time. Their financial woes stemmed from a $450,000 loan they took against their home to start a...
8:44PMSquare Feet | The 30-Minute Interview: Jeffrey Katz
Mr. Katz is the chief executive and principal owner of Sherwood Equities Inc., which has developed and manages more than $3 billion in commercial real estate.
8:36PMIn the Region | Connecticut: In Connecticut, a Moratorium on Affordable Housing
The Town of Oxford has declared an 11-month moratorium on applications for affordable-housing developments.
8:29PMHabitats: Part Library, Part Salon, Part Cast Party
The apartment of Delphi and Norman Harrington seems to exist in both the present and the past.
8:21PMPort Authority, developer continue WTC talks
Both sides negotiating a new completion plan for the World Trade Center site say they're continuing to talk despite a deadline.Developer Larry Silverstein and the Port Authority of New York and New Jersey said in a statement Friday that they are continuing to negotiate.'Following...
8:17PMIn the Region | Long Island: On Long Island, Protecting These Old Houses
New legislation in Northport requires that plans to demolish or renovate houses a century or more in age be vetted by an architectural review board.
8:15PMHomeowners take ˜cash for keys™ to escape debt
Owners of bad loans are increasingly making deals with borrowers to avoid a foreclosure. Lawmakers are more accepting of these solutions even if they mean the borrower loses the home. Foreclosure - Loan - Business - Real estate - United States
7:38PMPark Avenue Bank shut down, marks second NYC bank collapse in two days
Donald Glascoff's (left) Park Avenue Bank has been shut down with its deposits sold to Valley National Bank, headed by Gerald Lipkin (right)Federal and state regulators have shut down the Park Avenue Bank and sold its deposits to Valley National Bank, marking the second...
7:15PMPriciest, cheapest units to hit the market
From left: 34 East 74th Street and 308 Mott Street The priciest Manhattan home to hit the market this week is a six-bedroom, four-bathroom townhouse on the Upper East Side at 34 East 74th Street according to Streeteasy.com. The 6,216-square-foot house is on the market...
7:01PMCurbedWire: Waiting on Nolita Rehab; Evolution of the EV's Crazy Landlord
NOLITA-The boarded-up 244 Elizabeth is waiting on its rehab by the city and conversion to low-income co-ops, but a tipster says don't hold your breath: "Called the name on the permits at the city's office about if this is ever...
6:43PMRiverton owners face $4M transfer tax
The Riverton Houses and Larry GluckThe new owners of the rent-stabilized Riverton Houses in Harlem that sold at auction yesterday will have to pay a hefty transfer tax of just under $4 million after they take title to the property in the next couple...
6:34PMLinkage: Manhattan House Gets Snazzy Spa; Gowanus Cleanup Ideas
[A view of Brooklyn's Washington Avenue, by Curbed Photo Pool/Cran Burry] , Credit problems push back Times Square hotel redesign [Crain's] , A retrospective on a Bowery restaurant-turned-flophouse-turned-hotel [NYT] , Manhattan House gets a fancypants rooftop spa [Luxist] ,...
6:15PMDOB says it will adhere to judge's ruling in Big Apple Testing case
The Department of Buildings said it will grant Big Apple Testing an opportunity to discuss the rejection of its license renewal, following a ruling earlier this month by a New York State Supreme Court judge. New York Supreme Court Judge Alice Schlesinger ruled that...
6:11PMComment of the Day: "Downtown Brooklyn? Are you kidding me??...
"Downtown Brooklyn? Are you kidding me?? Have any of you guys actually BEEN there at night? It's probably the most depressing places in the city. It feels like Hartford, CT on the weekend. Yes, Brownstone Brooklyn proper is much nicer...
5:45PMMortgages: Even High-Score Borrowers at Risk of Mortgage Default
A high credit score won’t necessarily insulate borrowers from the home-foreclosure crisis, according to a new study from FICO.
5:40PMConstruction Watch: 11 Times Square Flaunts Phantom Tenants
Click the image above to view the full photogallery. Aside from the promise of a few fishes down below and some legal eagles up top, pinning down prospective tenants at the new 11 Times Square office tower has proven to...
5:32PMRegulators shut down Park Avenue Bank
Regulators shut down Park Avenue Bank in New York Friday, marking the 28th failure this year of a federally insured bank.The Federal Deposit Insurance Corp. was appointed receiver of Park Avenue Bank. It had $520.1 million in assets and $494.5 million in deposits as...
5:30PMBad timing hurts Harlem condos
From the March issue: After steamrolling across the city, the condo boom headed to Harlem, promising high-end buildings in a neighborhood more known for historic brownstones. Many of those condos are now hitting the market during the bust, and developers are doing more than...
5:20PM@PJGlassHouse: "The Philip Johnson Glass House is...
"The Philip Johnson Glass House is on Twitter! We may be Mid-Century but we're modern too." [Twitter/@PJGlassHouse]
5:09PMFunky Friday Listing: Dumbo Apartment Always Keeps Its Feline Friends in Mind
This on-the-market 1BR, 1BA at Dumbo's 100 Jay Street (ask: $679,000) has the most detailed for sale by owner website we've ever seen, but that's not what makes it deserving of Funky Friday status. It's also the only apartment...
5:00PMMilford Plaza renovation stumbles with lack of credit, crane removal begins at Beekman Tower ... and more
1. Lack of credit stymies Milford Plaza renovation effort [Crain™s] 2. Bronx girl imperiled by collapsed roof, other hazardous conditions in city-run apartment [NYDN] 3. Revisiting 104-106 Bowery six years later [NYT]4. Crane removal begins at Beekman Tower construction site [LMCCC] 5. Seacaucus police...
4:45PMCo-ops and condo boards contend with fraud
"Fraud is an ever present risk," said attorney and certified fraud examiner Kenneth Citarella in this Habitat Magazine video. He and accountant Mindy Eisenberg Stark, also a certified fraud examiner, outlined ways that co-op and condominium boards can become victims of fraud and some...
4:15PMCBRE just launched an iPhone app. How much of an effect will this technology have on the real estate industry?
The Real Deal is looking for your feedback on market-related issues. To read a story about the CBRE app, click here. Please comment below. If you have questions you'd like posted, please e-mail news@therealdeal.com.
4:07PMHAMP: Permanent loan mods up 45%
Borrowers see median monthly savings of about $519read more
3:45PMSix LI neighborhoods see strong pricing
While the residential market has been sagging in and around the greater New York City, there are six Long Island neighborhoods where home prices have stayed rock solid through the financial downturn, according the Newsday. The North Shore™s Port Jefferson, Holbrook in central Suffolk...
3:39PMREAL ESTATE NEWS: March 12, 2010
P.M. EDITION: Inman News Headlinesread more
3:39PMNew bill aims to protect worker pay
Politicians and union executives gathered in front of trendy retailer Scoop's SoHo outpost Friday morning to announce a new state bill designed to uphold fair wage practices for all New Yorkers.'Wage theft not only hurts hardworking families who are trying to make ends meet...
3:25PMMilford Plaza renovation put on hold
The 'Lullabuy of Broadway' otherwise known as the Milford Plaza hotel may be taking a longer nap than it had planned.The Times Square property on Eighth Avenue and 45th Street closed on Dec. 12, 2009 for a major renovation that was expected to be...
3:15PMStuy Town tenants tap fiscal guru
Investment banking group Moelis & Company is set to become a financial advisor to the Stuyvesant Town and Peter Cooper Village Tenants Association, according to Crain™s, throughout the complex™s coming restructuring plan. The move is being made in an effort to ensure than the...
2:56PMNew York art markets draw record crowds
Miriam Kreinin Souccar - In a burst of positive news for the art market, New York's two biggest arts fairs, which closed on Sunday, both had a record number of visitors and major sales. The Armory Show, which ran from March 3 through March...
2:42PMW. Virginia school clicking with NYers
Emily Laermer - Coinciding with the Big East basketball tournament in Madison Square Garden this week, West Virginia University is directing New Yorkers to its Web site using barcodes that most mobile phones with photo and Internet capabilities can read. WVU students wearing shirts...
2:12PMMortgage help: 170,000 get aid
More than 170,000 troubled homeowners are breathing a lasting sigh of relief now that they've received permanent modifications under the Obama administration's foreclosure prevention program.
2:06PMPoll: Is the WTC health care settlement fair?
Lawyers representing the city, construction firms and more than 10,000 Ground Zero workers agreed to a tentative settlement Thursday that could pay as much as $657.5 million to those who claim to be sickened by the World Trade Center site. The agreement requires approval...
1:36PMThe Big Shake
New York hasn’t had a big earthquake in 126 years, and history suggests that we’re likely to have one every century or two. That said, we’re in little danger of a Chile-level megaquake—but it’s also true that the city’s buildings are vulnerable during even...
1:36PMStuy Town tenants set to hire a financial adviser
James Comtois - The Stuyvesant Town/Peter Cooper Village Tenants Association is finalizing plans to retain investment banking firm Moelis & Company as its exclusive financial advisor. This move marks the next step in the Tenants Association's plan to seek a tenant-sponsored restructuring plan after...
12:12PMJudge weighing WTC settlement
A federal judge says he will hold a hearing in a week to let people weigh in on a settlement that would pay up to $657 million to people who got sick after toiling in the ruins of the World Trade Center.U.S. District Judge...
12:00PMClosing Bell: Flea Time
There's some cool new stuff happening at The Flea this weekend. Regular vendor David Sokosh debuts some old Brooklyn watches, Brooklyn Vintage is returning with a batch of great furniture and, representing North Brooklyn, former Greenpoint men's vintage clothing shop Houndstooth is teaming up...
12:00PMTennis Pro Andy Roddick™s Austin Home on Market for $4 Million
American pro tennis player Andy Roddick, known for his blistering serves (he has the fastest serve on record at 155 mph) and his inability to solve his rival, Roger Federer, is selling his Austin, TX home for $4 million. It's the same home where...
11:00AMBuilding of the Day: 1450 Pacific Street
The BOTD is a no-frills look at interesting structures of all types and from all neighborhoods. There will be old, new, important, forgotten, public, private, good and bad. Whatever strikes our fancy. We hope you enjoy. Address: 1450 Pacific Street, between Brooklyn and Kingston Avenues Type:...
10:52AMCredit starvation fallout
Commentary: Counting the (mortgage) secondsread more
10:52AMNew wave of foreclosures threatens market
Swelling ranks of homeowners who are seriously delinquent but haven't yet lost their homes may soon lead to a new round of foreclosures. Foreclosure - Real estate - Business - RealtyTrac - United States
10:28AMThe beauty of backup offers
The Wheel Estate Cam: Episode 15read more
10:01AMStreetlevel: Burg's New Biergarten Revealed
Chef Michael Psilakis, of Kefi and Anthos in Manhattan, just got a liquor license for the space on the corner of North 10th Street and Driggs. According to the New York Post, "The chef has not signed a lease on the space and...
9:52AMUS mortgage rates drop 2nd straight wk-Freddie Mac
9:51AMRetail sales rise as shoppers fight winter blues
9:45AMBoymelgreen bank first to fail in NYC in 11 years
Real estate developer Shaya Boymelgreen's Web site proclaims his finance business is 'built on a solid foundation.' He might wish to revisit that statement after federal regulators seized LibertyPointe Bank, an institution that he helped start and served as chairman. LibertyPointe late Thursday...
9:19AMTeenage Boy Slashed on Fort Greene Place
We've heard from a couple of readers that a 14-year-old boy on his way to school at Brooklyn Tech this morning at around 7 a.m. was attacked and slashed in the face with a knife in a unprovoked incident that appears to be a...
9:13AMOpen House Picks
Park Slope 17 Park Place Warren Lewis Sunday 3-4:30 $1,775,000 GMAP P*Shark Carroll Gardens 405 Smith Street Manzione RE Sunday 2-4 $1,100,000 GMAP P*Shark Midwood 698 East 22nd Street National Brokerage Sunday 2:30-4:30 $848,000 GMAP P*Shark Crown Heights 1253 Carroll Street Realty on the Greene Sunday 1-3 $755,000 GMAP P*Shark
8:41AMOpen House Picks: Six Months Later
Comment: Meh. Open House Picks 9/11/09 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
8:40AMSotheby's realty franchise grows in U.K.
Countrywide will have exclusive license for at least 25 yearsread more
7:31AM25 Washington Conversion Under Way
Remember the residential conversion we told you was in store for 25 Washington Street in Dumbo? Well, it's started. Last month the permits were approved for interior demolition and the requisite scaffolding went up shortly thereafter. Perhaps of greater interest, we noticed on the...
7:01AMCrack Is Wack
"Shoring has been put up, presumably after the fact, to prevent further damage but it looks to me like that corner is about to take a swim in the mud pit next door," writes Tyler King over on the Miller Cicero blog about a...
6:31AMLPC Gives Thumbs-Up to Berkeley Carroll Expansion
Despite the protestations of some of its Park Slope neighbors, Berkeley Carroll gained support from the Landmarks Preservation Commission for the redesign of an existing one-story school structure at 181 Lincoln Place. The biggest objection of neighbors has been over the potential noise problems...
6:17AMFresh Start Fridays: Four apartments with cut-rate carrying costs
As every owner knows, carrying costs typically only move in one direction: Up.   Buying into a building with low carrying costs is ideal, so long as the building has put enough money into its own upkeep. This week, Fresh Start Fridays focuses on four...
6:16AMHow to not get scr*w*d by an appraiser
After reading a few alarming tales of drive-by appraisals in New York City, we asked Manhattan appraisal guru Jonathan Miller for a reality check. Here's what he said: 1. Your paranoia is completely justified:  Very likely, your appraiser has no idea what your place is worth. The...
6:14AMAtlantic Yards: The Morning After
"In theory, it should be everything that a progressive urban policy analyst like me would want from a new development. Atlantic Yards would create lots of new housing immediately adjacent to mass transit lines. It would be a mix of residential, commercial, retail, and...
5:59AMSex condo, strike memos, public displays of estimates and more
One luxury building's strike plan (StreetEasy forum) Condo owner turns apartment into sex-party zone (NY Post) Apartment owner posts entire gut renovation estimate online for feedback (StreetEasy forum) Only two apartments find buyers at city auction (Malcolm Carter) Is a condo liable for drycleaning due to water damage?...
5:57AMThe three-figure kitchen makeover
Living with an undersize, outdated kitchen? If so, a sledgehammer may feel like the only solution. But these days you're probably not up for spending the $50,000 or more -- maybe much more -- it would cost to demolish the space and build...
1:00AMGeo-fencing and mobile marketing
Tech Tool Shedread more
12:55AM[In The Media] Bloomberg Surveillance March 12 7AM
[click to open] Friday Morning March 12, 2010 7:00 AM to 8:30 AM [TOMORROW] Usually I post something AFTER I speak, but since I was invited to 'guest co-host' (in title only since I'll have no idea what I am doing) Bloomberg Surveillance tomorrow, I thought...

Thursday: March 11, 2010

11:31PMStreetscapes | North of West 96th Street: Upper Broadway as a Young Boulevard
Broadway north of 96th Street was once a vibrant but shabby area and before that it was farmland.
4:50PMMortgage rates fall below the 5 percent mark
Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.
1:19PMSurvey: Pace of foreclosures may be slowing
RealtyTrac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from the year-ago level, the smallest annual increase in four years.
1:17PMGood neighboring: Better than a concierge
"I have an extremely helpful neighbor in my loft building. He markets in New Jersey instead of NYC and gets me food, household cleaners, etc., frequently, saving me energy and money.   If there is a snowstorm, he picks up my  meds or my immediate needs...
12:04PMForeclosures leveling off
The national foreclosure rate fell 2% in February from a month earlier, according to an industry report released Thursday, the latest sign that the pace of foreclosures is slowing.
12:00PMFormer Tennis Great Pete Sampras and Wife, Bridgette, List Home for $25 Million
Former tennis champion Pete Sampras and his wife, actress/model Bridgette Wilson-Sampras, have listed their enormous Thousand Oaks, CA home for $25 million.  Sampras'  home has over 16,000 square feet of living space, which includes 13,000 sq ft in the main house, plus a 1,200...
11:59AMTelemarketing hang-ups
Realtor Notebookread more
11:31AMNAR: Don't rein in FHA
Realtors group opposes hike in minimum downpaymentsread more
10:59AMNYC sees 23 percent drop in foreclosures
10:16AMForeclosures level off in February
RealtyTrac: Filings expected to remain at high levelread more
10:07AMTop 10 marketing strategies
Surveys: Referrals top list, pay-per-click ads rank lowread more
9:51AMKeep it 'Real'
I really do have it all, Ramona Singer says happily. I have a great husband, a wonderful daughter and such a pretty home. But Singer, one of The Real Housewives of New York City (which had its Season 3 premiere last Thursday on Bravo), has...
9:22AMBed bug sniffing dogs: Don't fall for false positives
A NY Times story today quotes a Manhattan real estate lawyer who says bed bugs are "the deep dark secret of co-ops and condos." We agree. But there's also another deep dark secret surrounding the main topic of the story: bed bug sniffing dogs. The Times™...
9:13AMFirst-time jobless claims drop slightly last week
5:57AMFor a good night™s sleep, move to Midtown
Here's something downtown and Midtown developers may want to start writing into their marketing materials. According to 311 records for 2009, the fewest residential noise complaints in Manhattan emanated from the neighborhoods comprising Community Board 5 (Midtown), and Community Board 1, a.k.a. Tribeca, the Financial...

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