‘Newspaper’ in Press Archives

One Costly Condo

IN the contest for Brooklyn’s priciest condo, a Brooklyn Heights triplex with sweeping Manhattan and harbor views has just taken the prize, with an $8.495 million sale price.

Real-estate leaders see good buys in select New York neighborhoods

That real-estate swagger might just be back. For the first time in two years, top real-estate executives, marketers and salespeople are starting to see strong sales in certain neighborhoods as New Yorkers pull the trigger on home purchases again. In Queens, fourth-quarter housing sales were up 56% from the same time last year, with only a 5% price decrease. In the new-development market, sales are up 176% from the beginning of 2009, and condos in general up 89% from the end of 2008.

Down with Rent!

Renters of New York, rejoice! The long tyranny of ever-rising rents is crumbling under the strain of global recession.

Once it was a question of how much the rent would increase in any given year. Now, for the first time in recent memory, tenants are demanding lower rents as they reach the end of their leases — and they’re getting them. Some landlords are even being proactive, lowering rents before they are asked.

Mixed Use

On the demo block
Eight months after a five-story Tribeca building partially collapsed, the owner of the 154-year-old loft building has filed for a permit to demolish the remaining portion of the structure.

Property owner Aharon Vaknin filed for a full demolition permit with the Department of Buildings on Dec. 24. He plans to build an eight-story hotel or dormitory building on the 69-71 Reade St. site between Broadway and Church Sts.

Gimme a break

For the New York City renter, 2009 likely felt like just deserts. After decades of consistently rising rents, landlords — perched atop a glut of rental stock — were forced to resort to desperate measures, including more or less paying people to sign leases.

Fast & Furious: These local condos are flying off the shelves

Christmas came early for some real estate developers and marketers, as more than a few holiday shoppers have added new homes to their wish lists. Across the city, fair-priced, ready-to-move-in new condos are experiencing unseasonably high traffic and sales activity for any economy.

Mixed Use

Where to rent
New York City renters looking for the luxuries of a doorman building Downtown should head for the Lower East Side, where prices for many unit types have fallen precipitously from a month ago.

Only 6 of 40 Units Remain Unsold at Williamsburg’s NV Condos

Since coming on the market in Williamsburg just one year ago, and with occupancy beginning this past May, a condominium on North Fifth Street has only six units remaining unsold. And that may change to five, according to David Behin, if a contract is signed today. Behin is a partner at TDG/The Real Estate Group of NY, which is handling the sales and marketing.

Developers Experiment With Smoking Bans

Some New York developers are banning smoking in their rental units, reports The Times. Starting this month, Related will ask new tenants in some of its downtown buildings to agree not to smoke in their homes (smokers already residing will be grandfathered in); meanwhile, Kenbar Management will ban smoking not only inside apartments but also on all terraces and adjacent sidewalks.

Bidding Wars Resume

A TWO-BEDROOM apartment on the Upper West Side is listed at $1.595 million and sells within two weeks after nine prospective buyers race to outbid one another, ultimately pushing the price to nearly $1.8 million.