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October 30, 2007
Housing activists and some City Council members believe that New York City needs a law prohibiting landlords from discriminating from potential tenants using federal rent vouchers. The Section 8 Housing Choice Voucher Program gives low-income families the opportunity to rent apartments while paying only 30% of the rent; the remaining portion is covered by the vouchers. The Times explains that "Eligible households are those earning no more than 50 percent of the metropolitan area’s median... [continue]
| October 26, 2007
There's been talk of what will happen to the Hotel Pennsylvania for a while now, and today the NY Observer reports that the skyscraper planned to take over the 401 Seventh Avenue address could be stopped by preservationists. Since the demolition project needs to be met with public approval it might not bode well that the construction "would entail building over the railroad tracks that run beneath the hotel and pose engineering and security challenges."... [continue]
October 25, 2007
After many attempts by World Trade Center developer Larry Silverstein and state officials to keep brokerage Merrill Lynch downtown, the NY Times reports the firm "appears ready" to move to a new, yet-to-be built skyscraper on Seventh Avenue between 32nd and 33rd Streets. Currently Merrill Lynch has offices at 4 World Financial Center, and it seems that it wants "extra large trading floors." It's questionable whether a Midtown building to accommodate 11,000 employees would be... [continue]
October 24, 2007
Yesterday, the New School held a forum to discuss how New York City will save its public housing. The New York City Housing Authority, which is the city's primary sources of affordable housing to 400,000 residents, has an annual shortfall of $225 million. The Daily News reports that Sean Moss, the Regional Director for the Department of Housing and Urban Development in the NY/NJ region, offered a suggestion that "prompted shocked murmurs." His idea: Sell... [continue]
October 23, 2007
The state released the draft scope for the Moynihan Station project today, and while the details have yet to be finalized, The New York Sun outlines the document's major components. Madison Square Garden will be moved into the rear of the Farley Post Office Building, which will be renamed Moynihan Station. A remade Penn Station will be renamed Moynihan East and will feature a sky-lit train hall surrounded by a million square feet of retail... [continue]
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October 22, 2007
NY state officials are expected to release the draft scope for the Moynihan Station's environmental impact statement today, which the NY Sun calls the "Spitzer administration's first public display of forward progress" on the project. The redevelopment of Penn Station into a Moynihan Station at the James Farley Post Office building on Eighth Avenue has been in the works for years. In fact, it was October 8 five years ago that the state officially acquired... [continue]
October 20, 2007
When residents of 17-17 Troutman St. woke Thursday morning, most were not aware that they would be homeless by the end of the day. The day before, notices were posted that city inspectors would be arriving to look the building over for violations at 9:30 a.m. It didn't take long Thursday for the Dept. of Buildings to designate the building as imminently perilous to residents and demand an almost-immediate evacuation. Residents had until 8 p.m.... [continue]
October 19, 2007
More than 200 people found themselves homeless last night after they were evicted from an enormous industrial building at 17-17 Troutman St. in the Ridgewood section of Queens, with Bushwick, Brooklyn just across the street. The loft residents were told to leave by the Department of Buildings and signs were posted saying that the building was "imminently perilous to life." Fire and building inspectors also cited numerous violations in the fire code and evidence... [continue]
Wow. Penny Crone, the love-her-or-hate-her but totally in-your-face local news reporter (she put the crone in "Crone!"), is now a agent at Prudential Douglas Elliman! We were upset when she was fired from WNYW Fox 5 in 2005. With her 2-pack-of-smokes-and-Scotch voice and fearlessness to get into a scrum, Crone is a New York institution; as the Diary of the Contemporary Dandy put it, "No assignment was beneath [her] dignity." Which is why we... [continue]
October 17, 2007
The Landmarks Preservation Commission approved a modern design for a townhouse to be built at 34 East 62nd Street. The lot, just east of Madison Avenue, has been empty ever since Dr. Nicholas Bartha blew up his home, which seemed like an effort to keep his ex-wife from taking the home as part of their acrimonious divorce settlement. The new design (rendering on right), by Preston T. Phillips, is a departure from the original... [continue]
With the stock of affordable housing in New York City shrinking, and requirements that some city workers reside within the five boroughs and nearby suburbs, some unions are entering the real estate market to directly provide or subsidize housing for their members. The firefighters union recently announced that it was considering using some of its $7.2 billion pension fund to invest in real estate that would be used to provide affordable housing for New York's... [continue]
October 16, 2007
Developer Charles J. Urstadt, the man behind the creation of Battery Park City in the 1970s, is eager to duplicate the feat further north up the Hudson by creating an additional 40 to 50 acres of Manhattan real estate. How? Well, by depositing fill dredged from Lower New York Bay. Urstadt estimates that the city could create land for $75 a square foot that could be worth $2,000 to $3,000 a square foot when developed... [continue]
October 10, 2007
A couple renting an apartment at the legendary Ansonia building on the Upper West Side filed a lawsuit claiming their apartment is "completely uninhabitable" due to cockroach infestation. The lawsuit from lawyers Alan Arkin (no relation to the actor) and Suzanne Bagert details these nightmare-inducing incidents:They crawl across the floor, on the walls, on the ceilings, on the curtains and even in the bed...Perhaps most disgustingly, cockroaches have crawled in their food and coffee maker.... [continue]
October 9, 2007
The center of the paparazzi universe might be the Waldorf Towers at 100 East 50th Street. That's because Brad Pitt, Angelina Jolie, and their brood of children are renting a $100,000/month apartment at the hotel. The Post reports that the Jolie-Pitts "began recently living in a newly renovated, roughly 6,000-square-foot apartment" that has "five bedrooms plus a library that they have converted into a sixth, up to six baths and a huge gourmet kitchen."... [continue]
October 2, 2007
Sure, there are worries about the credit market and subprime mortgage situation, but real estate brokerages around the city are basking in good news: Third-quarter Manhattan apartment closings were at the highest average price ever and home inventory tightened as well. The average price for a Manhattan apartment was $1.37 million and the average price for a condo is $1.6 million, with the different brokerage saying that it's anywhere from 16-38% higher than the previous... [continue]
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October 1, 2007
The NY Times is hinting that Brooklyn may be so over, a theory that seems to be based around Heath Ledger leaving the borough.What if Brooklyn’s recent cachet as the locus for what’s next is little more than a thin and fragile crust of chic, hiding the insecurity of people who constantly measure the social currency of their ZIP code by Manhattan standards? The number of trendy boutiques, bistros and music clubs in Brooklyn may... [continue]