Copyright 2009 The New York Sun Fri, 23 Oct 2009 08:17:10 -0400 http://blogs.law.harvard.edu/tech/rss Real Estate+ :: Stories from The New York Sun http://www.nysun.com/real-estate istoll@nysun.com (Ira Stoll) webmaster@nysun.com en-us LUCY COHEN BLATTER http://www.nysun.com/real-estate/commissioned-artworks-make-this-home-more/86557/ Thu, 25 Sep 2008 00:00:00 EST When Leonard Rosenberg and Colombe Nicholas's second child was born, the couple launched a new family tradition: Rather than having traditional family photos taken, they commissioned some of the best-known artists of the 20th and 21st centuries to create portraits of their son, Ian, now 17, and daughter, Morgan, now 21. "We wanted to instill in the kids a love of art," Ms. Nicholas said. "You can always hand money down to your children, but we thought this was something really special to give... MICHAEL STOLER http://www.nysun.com/real-estate/wall-st-woes-give-rise-to-talk-of-black-september/86555/ Thu, 25 Sep 2008 00:00:00 EST As layoffs begin on Wall Street as well in the professional service industries, the real estate industry is bracing for a wave of office space to hit the market, followed by a precipitous fall in rental rates and a surge in vacancy. Even the most optimistic real estate executives are finally beginning to worry, with many dubbing this month "Black September." "Due to the recent events, rents are down by at least 10% to 15% and trending downward," the president of Newmark Knight Frank, James... CANDACE TAYLOR http://www.nysun.com/real-estate/the-default-phenomenon-comes-to-ny/86556/ Thu, 25 Sep 2008 00:00:00 EST Manhattan is getting an unwanted taste of South Florida. Developers of new condominiums are finding that apartments they thought had sold are unexpectedly coming back into their hands as buyers — not just layoff victims, but some who are wealthy and employed — default on contracts. In some cases, these supposed buyers are having to walk away from five- and six-figure deposits. This phenomenon, common in Florida and other real estate markets decimated by the housing slump, was virtually unheard... CANDACE TAYLOR http://www.nysun.com/real-estate/boutique-broker-explosion-goes-into-reverse/86572/ Wed, 24 Sep 2008 22:18:48 EST When Debra Kameros in June merged her 12-employee real estate company with one of the city's biggest firms, Prudential Douglas Elliman, she said she was relieved that the cost and hassle of phone bills, support staff, and photocopy machines were no longer her concern. "I'm loving my ability to focus on being a broker and not on the running of an office," Ms. Kameros, who founded her company 25 years ago, said. "I've thought about that a lot over the years — the prospect of not having to worry... http://www.nysun.com/real-estate/the-week-in-review/86558/ Thu, 25 Sep 2008 00:00:00 EST 1. Yankee Stadium Soil for Sale Dirt from Yankee Stadium is on the market for as much as $199.99, amNewYork reported. Offers for stadium dirt are available on the Web sites eBay and Craigslist, along with ticket stubs from the last game played at the 85-year-old stadium, on Sunday. The dirt is being offered for sale in glass containers that read "Yankee Stadium Infield Dirt, Final Game, September 21," or heaped in a pile on a table. The team currently is in negotiations with the city to... CARTER B. HORSLEY http://www.nysun.com/real-estate/the-fillips-that-take-buildings-from-merely/86569/ Thu, 25 Sep 2008 00:00:00 EST It's the fillips, or flourishes, that really count in the great paintings. Those grand curlicues of putti-protecting clouds; those diaphanous veils that encircle half-shell Venuses; those gilded glimmers from the orderly chests of beribboned, medaled warriors. For architects, however, the real badges of honor are often more obscure: a fusillade of endless doors, a few unnecessary flying buttresses, and other small details that separate the genius from the merely wonderful. Two such occurrences... CANDACE TAYLOR http://www.nysun.com/real-estate/at-street-level/86138/ Thu, 18 Sep 2008 00:00:00 EST Manhattan's commercial real estate market may soon be flooded with millions of square feet of available office space as a result of this week's Wall Street shakeout. The takeover of Merrill Lynch by Bank of America, the bankruptcy of Lehman Brothers Holdings Inc., and the federal bailout of insurance giant American International Group could throw into play 10 million square feet of office space. That figure would be equivalent to 2.2% of the total 450 million square feet of Manhattan office... LUCY COHEN BLATTER http://www.nysun.com/real-estate/triberbia-couple-goes-green/86105/ Thu, 18 Sep 2008 00:00:00 EST The David Rockwell-designed Riverhouse got a celebrity boost when word spread that Leonardo DiCaprio and Tyra Banks had bought apartments in the "green" building. But Heather and Ross Bauer were sold on their two-bedroom, two-bathroom condominium long before Mr. DiCaprio and Ms. Banks decided to move in. For the Bauers, parents of an 8-month-old baby girl, much of the building's appeal came from its location at northwest Battery Park, an area nicknamed "Triberbia" for its family-friendly... MICHAEL STOLER http://www.nysun.com/real-estate/fannie-freddie-and-the-multifamily-market/86102/ Thu, 18 Sep 2008 00:00:00 EST The world of commercial real estate has been in a state of disarray amid the subprime crisis and the resulting foreclosures, rising unemployment, and the dislocation of the securitization and capital markets. Now, investors and lenders are debating the implications of the federal government's rescue of mortgage giants Fannie Mae and Freddie Mac. While some say that the bailout is enabling the multifamily real estate sector to proceed at a healthy pace, others worry that the companies will be so... CANDACE TAYLOR http://www.nysun.com/real-estate/a-real-estate-site-stirs-up-the-industry/86103/ Thu, 18 Sep 2008 00:00:00 EST When Internet entrepreneur Michael Smith founded the real estate Web site StreetEasy.com in 2006, he took an unorthodox approach to staffing. "For the first year, we had no one from the real estate industry working here," Mr. Smith said, adding that many of the site's most popular features, such as apartment price changes and days on the market, might never have become part of the site if an industry insider had helped to sculpt it. "We didn't want any of the assumptions that come from being in... CARTER B. HORSLEY http://www.nysun.com/real-estate/supporting-cast/86104/ Thu, 18 Sep 2008 00:00:00 EST Caryatids, those stately maidens holding up the porch of the Erechtheion on the Acropolis in Athens, and their male counterparts, known as Atlantes or Telemones, are obvious means of humanizing architecture. In our increasingly virtual and animated world of superheroines, superheroes, and supervillains — and in an architectural era that is becoming decreasingly rectilinear — such curvaceous and brawny embellishments may once again become popular. The city's most dramatic caryatids are atop the... CANDACE TAYLOR http://www.nysun.com/real-estate/townhouses-offering-condo-style-services/85611/ Thu, 11 Sep 2008 00:00:00 EST The occupants of a newly renovated Greek Revival townhouse in the West Village will enjoy something few New York City homeowners have: the benefits of owning a house without giving up the luxury of condominium-style services. A new company, Aberdeen Townhomes, is buying up historic townhouses in the city and outfitting them with fancy electronic doormen, concierge services, and air-conditioned storage units for grocery deliveries. Because the homes are coming on line during one of the worst... PETER KIEFER http://www.nysun.com/real-estate/ground-zero-progress-report/85615/ Thu, 11 Sep 2008 00:00:00 EST On the seven-year anniversary of the terrorist attacks of September 11, 2001, construction at the World Trade Center site is underway amidst a backdrop of anticipation and uncertainty. The executive director of the Port Authority of New York and New Jersey, Christopher Ward, will deliver an updated scheduling and budgeting assessment for the site at the end of the month. Mr. Ward has already signaled that the previous deadlines and budgets for projects at the site were "unrealistic" and there... MICHAEL STOLER http://www.nysun.com/real-estate/hostile-lending-environment-weighs-on-investors/85612/ Thu, 11 Sep 2008 00:00:00 EST The skies are ominous for real estate investors, especially those seeking financing. Take the failure last week of Silver State Bank of Henderson, Nev., which had about $2 billion in total assets. The bank's collapse — the 11th such failure so far this year — follows an announcement last month by the Federal Deposit Insurance Corp. that the number of banks on its "problem list" rose 30% during the second quarter of 2008. At the end of June, there were 117 banks on the agency's watch list, up... CANDACE TAYLOR http://www.nysun.com/real-estate/week-in-review/85613/ Thu, 11 Sep 2008 00:00:00 EST 1. Safety Concerns Halt School Visits to United Nations The city of New York is suspending all public school visits to the United Nations due to safety concerns, The New York Sun reported. In a September 8 letter to top U.N. officials, the city's liaison to the world body, Marjorie Tiven, expressed "profound disappointment" over the U.N.'s failure to make good on pledges to secure the building, and said the city has "no choice" but to suspend all school trips. The letter to the U.N... PAULA ROTH http://www.nysun.com/real-estate/franklin-avenue-changes-as-crown-heights-attracts/85610/ Thu, 11 Sep 2008 00:00:00 EST A main thoroughfare in Brooklyn's Crown Heights neighborhood, an increasingly powerful magnet for recent college graduates and young professionals seeking affordable rent and access to mass transit, is undergoing a transformation. The bodegas, hair salons, and fast-food restaurants lining the section of Franklin Avenue that runs between Eastern Parkway and Atlantic Avenue, on the western boundary of Crown Heights, are slowly being replaced by organic markets, cafés, and clothing boutiques... CARTER B. HORSLEY http://www.nysun.com/real-estate/get-a-grip/85614/ Thu, 11 Sep 2008 00:00:00 EST Some say you can tell a person's character by the way they shake your hand. Well, something similar may also be the case with buildings: Show me a store or home with an unusual doorknob, and the odds are that what's inside will be interesting. Given the city's fascination with fashion, it is surprising how little attention has been given by designers and architects to the lowly doorknob. The vast majority of fashion boutiques feature doorknobs that are simple globes, bars, or thumb latches. In... JILL PRILUCK http://www.nysun.com/real-estate/615-2nd-st/85191/ Thu, 4 Sep 2008 00:00:00 EST 615 2nd St. Between Eighth Avenue and Prospect Park West $3.495 million Approximate Annual Taxes: $6,900 Broker: Libby Ryan/ Brown Harris Stevens This 20-foot-wide, Park Slope townhouse, built in 1910, contains many features that define the area's limestone homes, including a central staircase and a kitchen (built on a rear extension) on the parlor level. The first floor, in addition to the kitchen, contains a living room, dining room and rear deck with access to a garden below. The second... CARTER B. HORSLEY http://www.nysun.com/real-estate/let-the-light-shine-in-skylight-art-and-drama/85184/ Thu, 4 Sep 2008 00:00:00 EST The ideal art studio is north-facing, with high ceilings and large, angled windows that provide plenty of natural light without allowing in the burning rays that can alter pigments and fade furniture. The double-wide brownstone at 20 W. 10th St. has two such apartments; the great architectural draftsman Hugh Ferriss once occupied one, and the great Art Deco painter Guy Pène du Bois called the other home. The key to the beautiful light is the skylights, and there are several similar skylights in... CANDACE TAYLOR http://www.nysun.com/real-estate/eateries-opening-where-banks-once-stood/85185/ Thu, 4 Sep 2008 00:00:00 EST Many New Yorkers likely haven't entered a Bruegger's bagel shop since the late nineties, when the chain closed all of its Manhattan locations as the low-carb Atkins diet swept the country. They'll have another chance starting this fall, when Bruegger's will open its first New York City location in a decade. The Burlington, Vt.-based company signed an agreement recently with Queens-based Hart Street to open 20 Manhattan restaurants over the next seven years. Bruegger's isn't the only low-cost... CANDACE TAYLOR http://www.nysun.com/real-estate/the-week-in-review/85186/ Thu, 4 Sep 2008 00:00:00 EST 1. Apartment Prices Plummet in City Apartments in prime Manhattan neighborhoods are selling for less than their purchase prices, The New York Sun reported, despite repeated assertions from industry insiders over the past several months that the Manhattan real estate market is impervious to the nationwide housing slowdown. Among the apartments selling for a loss is a unit at 80 John St., in the financial district, which recently sold for $590,000 after a $720,000 selling price was listed in... MICHAEL STOLER http://www.nysun.com/real-estate/pros-optimistim-amid-doom-and-gloom/85187/ Thu, 4 Sep 2008 00:00:00 EST Real estate executives, building owners, and leasing brokers are anxiously watching the start of the fall season, as September marks a time when office leasing activity often picks up after the summer doldrums, setting the tone for remainder of the year. Unfortunately, the credit crisis and dislocation of the capital markets is persisting. According to trade sources, Wall Street investment banks failed to securitize even a single dollar of collateralized mortgage-backed securities over the... JACLYN TROP http://www.nysun.com/real-estate/to-make-ends-meet-more-risk-eviction-to-run-hotels/85183/ Thu, 4 Sep 2008 00:00:00 EST Guests staying at Josh Garcia's apartment in Williamsburg, Brooklyn, have flooded his bathroom and spilled red wine on his sheets, but he collects $125 a night by providing them with Wi-Fi access, fresh linens, and a key to his place. "I could get evicted, technically," Mr. Garcia, a 27-year-old engineer, said of the informal hotel he runs from his two-bedroom apartment. Without the boarders, though, he said he could not pay his $2,500 rent. Capitalizing on a loose definition of "roommate,"... JILL PRILUCK http://www.nysun.com/real-estate/ode-to-limestone-11-e-82nd-st/85192/ Thu, 4 Sep 2008 00:00:00 EST 11 E. 82nd St. Between Fifth and Madison avenues $40 million Approximate Annual Taxes: $95,000 Broker: Roger Erickson/Sotheby's International Realty This six-story, Upper East Side mansion, built in 1895, contains a Neo-classical limestone façade. About 11,500 square feet, the 25-foot-wide home has 14-foot-high ceilings, five marble mantels (the fireplaces are gas), exquisite ornamental moldings, and a wrought iron and brass staircase, among other details. The first floor has a marble and onyx... JILL PRILUCK http://www.nysun.com/real-estate/39-w-69th-st/85193/ Thu, 4 Sep 2008 00:00:00 EST 39 W. 69th St. Between Central Park West and Columbus Avenue $7.9 million Approximate Annual Taxes: $31,200 Broker: Mike Sieger/ Fenwick Keats Goodstein This five-story, Upper West Side townhouse, built in 1895, has a brick and limestone façade. Comprised of an owner's triplex and four rentals (three are vacant), the the 21-foot-wide, Renaissance Revival home is about 6,800 square feet. The first floor contains a wood-paneled foyer and rear one-bedroom with a garden. The second floor, also the... CANDACE TAYLOR http://www.nysun.com/real-estate/the-week-in-review/84816/ Thu, 28 Aug 2008 00:00:00 EST 1. Contractor Sues the Plaza A Long Island contractor claims in a lawsuit that the developers of the Plaza Hotel failed to pay $3.71 million for work done at the newly restored building, the Real Deal reported. A heating and air-conditioning firm, S.W. Sims, filed a complaint in New York State Supreme Court on August 22. The Plaza Hotel, at 768 Fifth Ave. at Central Park South, reopened this spring after a $400 million renovation that converted the century-old hotel into a hotel-condominium... CANDACE TAYLOR http://www.nysun.com/real-estate/doctors-replace-wall-street-bankers-as-go/84817/ Thu, 28 Aug 2008 00:00:00 EST When sales launched at East Harlem's Observatory Place, the developer was surprised to discover that instead of the young Wall Street bankers the company had targeted with its advertising and fliers, doctors and nurses from nearby hospitals were flooding in to buy the luxury condominiums. "We've had absolutely no sales or contracts with people from financial institutions," said Albert Marengo, the chief financial officer at the developer of Observatory Place, Gary Silver Architects. "It was a... MICHAEL STOLER http://www.nysun.com/real-estate/ny-educators-planning-expansions/84819/ Thu, 28 Aug 2008 00:00:00 EST Note: Correction appended. New York is home to a larger number of students than any other American city, according to the city's Economic Development Corp., and colleges and universities are planning to spend more than $15 billion in expansion costs meet their growing needs. Much of the construction is set to start during the next several months. At the City University of New York, one of the nation's largest urban public universities, construction for the first phase of the CUNY-Wide Advanced... CARTER B. HORSLEY http://www.nysun.com/real-estate/ramping-it-up-when-stepping-right-up-isnt/84818/ Thu, 28 Aug 2008 00:00:00 EST The U.S. attorney's office in Manhattan recently sent out letters to notify some of the city's most important landlords that certain buildings were not accessible to people with disabilities, and therefore discriminatory under the Fair Housing Act passed in 1988. This important dispute is centered on making apartment interiors accessible to the disabled, and does not address the very widespread existence of stepped building entrances that are difficult for the disabled to navigate. Some... CANDACE TAYLOR http://www.nysun.com/real-estate/popular-soho-diner-to-reopen-in-tribeca/84820/ Thu, 28 Aug 2008 00:00:00 EST A diner that was a fixture in SoHo before closing last year, Jerry's Cafe, will reopen at 90 Chambers St. in early September, the owner, Jerry Joseph, said. Mr. Joseph said he's in the process of interviewing chefs for the new Jerry's, which will reopen with many of the menu items and the homey décor that earned the diner a loyal SoHo following for 20 years, including the red-leather booths, neon-blue "Jerry's" sign, and much-loved french fries. "We will attempt to re-create what we had for 20... LUCY COHEN BLATTER http://www.nysun.com/real-estate/an-early-love-of-art-and-soho-pays-off/84821/ Thu, 28 Aug 2008 00:00:00 EST When Anthony and Katrin Sosnick bought their 3,000-square-foot SoHo loft six years ago, they wanted to create a "warm, contemporary" feel. With an elevator that opens right into the apartment, brand new stainless steel kitchen appliances, and an exposed HVAC system, the contemporary part was already taken care of. What was lacking was the warm element, and so they went to work filling the space with their own personal treasures, in the form of bright, colorful works of art. Mr. Sosnick, the... JILL PRILUCK http://www.nysun.com/real-estate/got-built-ins-136-e-80th-st/84761/ Thu, 28 Aug 2008 00:00:00 EST 136 E. 80th St. Between Park and Lexington avenues $11.95 million Annual Taxes: $28,822 Broker: Kirk Henckels/Stribling This Upper East Side brick and limestone townhouse contains a library with original chestnut walls and bookshelves; a parlor with a built-in marble wet bar, and a kitchen with a banquette. Like the second bedroom on the top floor, the garden-level family room, which has access to the outdoor space, also contains built-in bookshelves. The living room features bay windows and... JILL PRILUCK http://www.nysun.com/real-estate/445-e-19th-st/84762/ Thu, 28 Aug 2008 00:00:00 EST 445 E. 19th St. Between Ditmas Avenue and Dorchester Road $2 million Annual Taxes: $4,478 Broker: Mary Kay Gallagher/ Mary Kay Gallagher Real Estate This neo-Tudor, English cottage-style home in the Ditmas Park Historic District has a living room with built-in oak bookshelves; a dining room with built-in, stained glass cabinetry, and an upstairs hallway with an oak window seat. The second-floor office also contains built-in bookshelves (and an oak ceiling). About 3,440 square feet, the... JILL PRILUCK http://www.nysun.com/real-estate/166-amity-st/84763/ Thu, 28 Aug 2008 00:00:00 EST 166 Amity St. Between Court and Clinton streets $4.995 million Annual Taxes: $6,374 Broker: Phyllis Norton-Towers/Brown Harris Stevens This 25-foot-wide, 1843 Cobble Hill townhouse contains a library with built-in bookshelves along all three walls; a kitchen with bookshelves above the fireplace (one of four wood-burning ones), and an adjacent family room with a window seat (plus storage below). There is built-in shelving in the bedrooms as well. The garden level consists of the kitchen (with... CANDACE TAYLOR http://www.nysun.com/real-estate/dollar-may-boomerang-on-the-city/84341/ Thu, 21 Aug 2008 00:00:00 EST A rapidly rising dollar is threatening to boomerang on New York City's real estate and tourism industries, economists and real estate officials say. Over the past month, the greenback has surged against gold and foreign currencies, including the euro, and economists predict it will continue its upward trajectory throughout next year. This trend, along with a weakening European economy, could herald a tapering off of the flurry of European buyers who have so far insulated the city from the... CARTER B. HORSLEY http://www.nysun.com/real-estate/in-the-groove/84326/ Thu, 21 Aug 2008 00:00:00 EST The Pierre Hotel, on the southeast corner of Fifth Avenue and 61st Street, recently closed for renovations, and the northernmost of its two canopied entrances is now boarded up. Designed by Schultz & Weaver and erected in 1929, the Neo-Renaissance-style Pierre is notable for its large, green mansard roof and its light beige brick façade, above a one-story rusticated limestone base. Rustication, a bold, rectilinear patterning in stone that usually is applied to the lower part of a building, is... http://www.nysun.com/real-estate/the-week-in-review/84327/ Thu, 21 Aug 2008 00:00:00 EST 1. Thousands of City Apartments May Violate Law Developers across the city could be required to undertake expensive renovations after the U.S. attorney's office for the Southern District of New York filed a lawsuit against developer AvalonBay, saying it is discriminating against disabled people. The suit alleges that the developer failed to provide sufficient handicapped access at Avalon Chrystie Place, a 361-unit building on the Lower East Side, The New York Sun reported. Previously, the U.S... MICHAEL STOLER http://www.nysun.com/real-estate/retail-is-pillar-of-strength-in-cracking-economy/84328/ Thu, 21 Aug 2008 00:00:00 EST Bankruptcies have plagued the retail sector this year, with a number of prominent stores in New York closing, including the Sharper Image, Bombay Co., Steve & Barry's, Comp USA, Linens 'N Things, Fortunoff, and Bennigan's. Last month, Starbucks Coffee Co. announced it plans to close 600 stores nationwide, 11 of them in New York City. Despite all this negativity, retail experts are bullish: "Yes, the economy is going to be experiencing challenges, and other economic factors demonstrate signs of... LACEY TISCH-SIDNEY http://www.nysun.com/real-estate/when-you-want-your-home-in-top-condition-try-dry/84329/ Thu, 21 Aug 2008 00:00:00 EST When you want to have your home in top condition — whether you're putting it up for sale or unpacking from a move — there's one no-fuss way to ensure that everything is in top condition: Dry-clean it. Some of the top dry cleaners in Manhattan are willing to come to your home (or private jet, for that matter) and take interiors, not just clothes, through the wash. "Just like high-end garments, furnishings are made from one-of-a-kind fabrics and need to be treated as such," the director of... CANDACE TAYLOR http://www.nysun.com/real-estate/tenants-sue-landlord-in-attempt-to-force-repairs/84325/ Thu, 21 Aug 2008 00:00:00 EST Tenants in a Pinnacle Group building on Riverside Drive and 144th Street are suing their landlord, claiming that the six-story rental building is in need of extensive repairs. The building, at 668 Riverside Dr., is set to undergo a conversion into condominiums, but the tenants are claiming that "mold, constantly leaking pipes, rotting wood, fallen ceilings, and dangerous electrical environments" must be fixed before the conversion can begin. The Pinnacle Group is a large landlord, with an... DAWN KOPECKI http://www.nysun.com/real-estate/fannie-freddie-shares-slump-bonds-rise-on-bailout/84339/ Thu, 21 Aug 2008 00:00:00 EST Fannie Mae and Freddie Mac shares tumbled in New York trading to the lowest levels since at least 1990 and the bonds rose as speculation increased that the U.S. Treasury will bail out the mortgage-finance companies, wiping out shareholders. Fannie, based in Washington, slumped 27% and McLean, Va.-based Freddie dropped 22%, extending its losses to 90% for the year. The companies' debt yields fell the most in a month against benchmarks in anticipation that the government would fully support the... JILL PRILUCK http://www.nysun.com/real-estate/10-west-st/84287/ Thu, 21 Aug 2008 00:00:00 EST 10 West St., #24D Between Battery and First places $1.1 million Common Charges: $692 Monthly Taxes: $827 Broker: Anita Wood/Brown Harris Stevens This Battery Park City condo at the Ritz-Carlton has views of New York Harbor, Battery Park, Governors Island, the Red Hook piers, and the Alexander Hamilton US Custom House. Formerly a one-bedroom, it is now a studio that measures about 807 square feet. The entrance hallway, living room, and sleeping area feature custom-designed, floor-to-ceiling... JILL PRILUCK http://www.nysun.com/real-estate/of-waterways-and-parkways-one-main-st/84288/ Thu, 21 Aug 2008 00:00:00 EST One Main St., #5E Between Plymouth and Water streets $1.599 million Common Charges: $831 Monthly Taxes: $125 Broker: Karen Heyman/Sotheby's This one-bedroom condo in DUMBO has East River, Empire-Fulton Ferry State Park, bridge, and "waterfall" views from the living/dining room and the master suite. About 1,735 square feet, it has original beamed ceilings that reach 11-feet-high and oak floors in every room. It also contains an office, laundry/utility room, and half bath. The open kitchen has... JILL PRILUCK http://www.nysun.com/real-estate/231-10th-ave/84289/ Thu, 21 Aug 2008 00:00:00 EST 231 10th Ave., #PH1 Between 23rd and 24th streets $5.2 million Common Charges: $2,659 Monthly Taxes: $309 Broker: Robert Browne/Corcoran This West Chelsea penthouse has Hudson River views and overlooks the future High Line Park. From the living/dining room, the Statue of Liberty, General Theological Seminary grounds (part of the Chelsea Historic District), and the Frank Gehry-designed IAC Building, among others, are visible. The second bedroom and east-facing terrace overlook the Empire State... MICHAEL STOLER http://www.nysun.com/real-estate/summer-doldrums-sales-of-condos-down-sharply/83866/ Thu, 14 Aug 2008 00:00:00 EST As we approach the end of summer, the sales volume of New York City condominiums is way down, and it is harder than at any time in recent history for purchasers to qualify for residential mortgages, most developers and brokers say. Still, many are hopeful that the situation is merely a case of the summer doldrums, and that activity will pick up again in the fourth quarter of 2008. "The indicator which sticks out most for condominium sales for 2008 is that the total number of transactions are... Staff Reporter of the Sun http://www.nysun.com/real-estate/abatements-end-could-spur-flurry-of-lawsuits/83828/ Thu, 14 Aug 2008 00:00:00 EST Ensuring that buyers at his new condominium project would receive tax exemptions under the city's 421-a program was a tedious process for developer David Kislin. Satisfying his lenders that 5 Franklin Place would receive the abatement, which gives owners a break on city taxes for up to 10 years, took "lots of planning, lots of legal work, and a lot of attention to detail," Mr. Kislin, a partner at Sleepy Hudson LLC, said. A key part of the process, he said, was testing and certifying the... http://www.nysun.com/real-estate/week-in-review/83830/ Thu, 14 Aug 2008 00:00:00 EST 1. Council Seeks To Expand Control of Rent Stabilization The City Council is working to increase its control over the board that decides rent increases for rent-stabilized apartments, The New York Sun reported. Speaker Christine Quinn, who lives in a rent-stabilized apartment with her partner, a corporate lawyer, may benefit from the change. The bill she is backing in the state Legislature would require the council to approve new members to the Rent Stabilization Board, and that the board use... CANDACE TAYLOR http://www.nysun.com/real-estate/homeless-center-roils-a-brooklyn-neighborhood/83831/ Thu, 14 Aug 2008 00:00:00 EST The city is planning to relocate its intake center for homeless men to a residential area of Brooklyn from Manhattan as early as next month, a move that residents say would depress the values of sought-after nearby townhouses. The Bloomberg administration is seeking to move the intake center, which processes all of the city's single homeless men before assigning them to shelters, to the 350-bed Bedford-Atlantic Armory Shelter in Crown Heights from the Bellevue Men's Shelter on East 30th Street... CARTER B. HORSLEY http://www.nysun.com/real-estate/pinball-wizards-in-the-sky/83829/ Thu, 14 Aug 2008 00:00:00 EST New York City has two of the world's most famous illuminated towers, the Chrysler Building and the Empire State Building, and in recent years, it has added a few more: the Bear Stearns tower at 383 Madison Ave., One Beacon Court at 151 E. 58th St., and the Time Warner Center at Columbus Circle. The Eighth Avenue corridor in Midtown is highlighted by the glowing pyramid top of World Wide Plaza, designed in 1989 by David Smith of Skidmore, Owings & Merrill. That huge tower has been joined... LUCY COHEN BLATTER http://www.nysun.com/real-estate/a-colonial-oasis-in-upper-manhattan/83836/ Thu, 14 Aug 2008 00:00:00 EST When Lucinda Martinez-Desir was a young girl growing up in Washington Heights, she'd often sit on the steps leading up to Sylvan Terrace and write poetry. Almost two decades later, she returned, moving into one of the cobblestone street's famed Colonial row houses. A tucked-away, car-free block on 161st Street between St. Nicholas Avenue and Jumel Terrace, Sylvan Terrace is lined with street lamps and features a double row of three-story wooden houses. It is steps away from Manhattan's oldest...