Friday, July 30, 2010
The Real Deal has ranked the top listing agents of the week based on the highest priced residential deals filed with the city.
 Some of the top agents of the week, from left: Paula Del Nunzio, Shirley Mueller, Dolly Lenz, Sandy Papale, Joan Goldberg and Andrew Anderson
Footnotes: Data is for closed deals filed with the city this week through Thursday. The chart only includes sellers' brokers, because buyers' brokers' names are not available in city data or listings. The data does not include deals in contract. To obtain broker information, listing information was compared with sales records filed with the city. Only deals where an individual broker and address can be identified are included. As a result, private sales, listings where an address has not been provided and new development sales by a sales center are not included. Sources: Streeteasy.com and The Real Deal.
Friday, July 30, 2010
Four men were found guilty of participating in a $100 million mortgage fraud scheme tied to a company called AFG Financial Group, a statement by the office of the Manhattan district attorney said. Aaron Hand, Kenneth Law, Eric Shields and Jerry Strklja were found guilty of multiple felonies such as enterprise corruption, scheme to defraud, conspiracy and dozens of grand larcenies, the DA's office said. Sentencing for Hand is scheduled for Sept. 17, while sentencing for the others is set for Sept. 7, the district attorney's office said. TRD
Friday, July 30, 2010
 Rector Square and Yair Levy Anglo Irish Bank plans to auction the unsold 230 apartments of Rector Square, the foreclosed Battery Park City condominium conversion, in a bulk sale in September, with some analysts valuing the remaining units at $400 a square foot.
The lender is waiting for a final ruling from a state Supreme Court judge, who heard closing arguments regarding the auction this morning. That final ruling could come within the next few weeks.
“The suit is moving toward conclusion and we anticipate a sale in mid- to late-September,” Chris Sullivan, an attorney with Herrick Feinstein, which represents Anglo Irish Bank, told The Real Deal, through a spokesperson. “There are a few procedural items to work out, but a sale of the property appears likely.” [more]
Friday, July 30, 2010
1. Congressman Rangel inaccurately signed lease on rent-stabilized apartment: ethics committee [NYT] 2. Architect Charles Renfro discusses the renovation of Lincoln Center [Capital]
3. Late “Golden Girl” Rue McClanahan’s Sutton Place apartment is on the market [NY Mag]
4. Goldman Sachs unveils designs for Battery Park City renovation [NYT]
5. Domino Sugar Factory will ruin South Williamsburg waterfront [Guest of a Guest]
6. New pet store Paws and the City to open in Crown Heights [Nostrand Park]
7. Larry Silverstein justifies refusal to allow businesses to settle 9/11 losses [Post]
8. Is the U.S. housing market really rebounding? [Breaking Views via Patrick.net]
9. Harlem eatery Gospel Uptown files for Chapter 11 bankruptcy [Crain’s]
10. Many cities await recovery in struggling housing market [MSNBC via Patrick.net]
11.
Shadow inventory to push 2011 home prices down: report [Housing Wire]
12. COO of New York Stock Exchange buys home at 48 Walker Street in Tribeca [NYO, 3rd item] 13. Landmarks Preservation Commission to vote Tuesday on Ground Zero mosque [NYO]
14. BK Whopper Bar set for soft opening in Times Square Saturday [NYT]
15. EV community board 3 still waiting for Chloe Sevigny’s application [EV Grieve]
16. Bob Steele, new deputy mayor for Economic Development Corp., starts Monday [NYO]
17. 153 Lincoln Place condominium in Park Slope sells out [Brownstoner]
Friday, July 30, 2010
New renderings of the Loews Pitkin Theater, at 1501 Pitkin Avenue in Brownsville, were published yesterday by ArchPaper. The Pitkin Theater -- once home to the likes of Jackie Gleason, Milton Berle and Humphrey Bogart -- was closed since 1969, until ground was broken last week on a new charter school and retail complex. Developer POKO Partners is working together with Kitchen & Associates, a firm based in Collingswood, NJ, on the renovation. [more]
Friday, July 30, 2010
Brookfield Properties, the New York-based landlord and subsidiary of Toronto's Brookfield Asset Management, plans to depart from the housing market entirely to focus exclusively on office properties, Bloomberg News reported. The company, which just invested billions in bankrupt shopping mall owner General Growth Properties and also has $1.2 billion in residential assets, is currently in talks to merge its Carma Development home building unit with Brookfield Asset Management's Brookfield Homes. [more]
Friday, July 30, 2010
 From left, Joseph Cayre, Robert Knakal, Michael Schor and 205 Montague Street Treeline has sold the former Brooklyn Savings Bank building at 205 Montague Street -- known as the place where Jackie Robinson signed with the Brooklyn Dodgers -- for $33 million, Crain’s reported. According to Treeline, which owned the five-story building for 15 years, the sale price was double their original investment in the property. The buyer was Midtown Equities, a real estate investment and development firm run by World Trade Center investor Joseph Cayre. [more]
Friday, July 30, 2010
 Dali and the unit at 181 East 65th Street
A seller at the Upper East Side's Chatham condominium is taking an artistic approach to unloading his three-bedroom, three-and-a-half-bathroom unit, according to Curbed, offering up two paintings by famed surrealist Salvador Dali. The unit, which sits inside the Robert A.M. Stern-designed building at 181 East 65th Street between Third and Lexington avenues, is on the market for $6.75 million, with Prudential Douglas Elliman's Leonel Piraino handling the listing. [more]
Friday, July 30, 2010
Even a guerilla campaign using posters and spray paint in Park Slope last November was not enough to convince buyers to purchase a condo in an eight-unit building developed by Monogram Properties at 211 23rd Street, Brownstoner reported. Sales were first launched back in 2007, when prices ranged from the mid $400,000s to $889,000. When they relaunched in November, prices started at $563,748 and went up to $811,578. [more]
Friday, July 30, 2010
Mortgage interest rates have reached record lows for the sixth week in a row, for the week ending July 29, according to data from government-sponsored mortgage giant Freddie Mac. The 30-year fixed-rate mortgage averaged a 4.54 contract interest rate, down from 4.56 percent last week and 5.25 percent during the same week last year. It was the lowest interest rate for the 30-year mortgage recorded in the 30-year history of Freddie Mac's survey. Its 15-year counterpart averaged 4 percent, down from 4.03 percent last week and 4.69 percent last year. [more]
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Big Deal: Conan O’Brien Sells Duplex for $25 Million
Friday, July 30, 2010
The talk show host sold his duplex for more than $4 million below his asking price.

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Yikes! It’s a Garage
Friday, July 30, 2010
The building of few private garages has set off municipal alarm bells. Fearing copycats, the city has moved swiftly to tighten the rules.

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Square Feet | The 30-Minute Interview: Andy Frankl
Friday, July 30, 2010
Questions for the president and founder of IBEX Construction, a company based in New York that specializes in stores and commercial interiors.

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The Hunt: Shoe Leather Produces a Studio for a Shoestring Budget
Friday, July 30, 2010
For Patrick Shindell, finding something in Manhattan in his price range — under $300,000 — was a tall order.

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In the Region | New Jersey: Penthouses Losing Altitude
Friday, July 30, 2010
Penthouse apartments have become increasingly accessible for buyers and renters in New Jersey over the last few years.

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Habitats | Hillcrest, Queens: A Semi-Secret Garden in Queens
Friday, July 30, 2010
A watercolorist and her husband have a lushly planted backyard at their home in Hillcrest, with plants that figure in her paintings.

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Big Deal: Dylan McDermott Buys Co-op
Friday, July 30, 2010
The actor bought a one-bedroom on West 21st Street for $701,000.

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Mortgages: Fannie Mae Offers Borrowers Hardship Relief
Friday, July 30, 2010
Struggling borrowers facing “unique hardships” may find more flexibility from lenders starting this month.

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Big Deal: David Bouley Sells Apartment
Friday, July 30, 2010
The chef and restaurateur sold his East 10th Street co-op for $1.4 million.

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Streetscapes/Readers’ Questions: A Stable and Its Dakota Connection
Friday, July 30, 2010
Readers’ questions pertain to the Dakota Stables and the Lexington School for the Deaf.

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Posting: Condo Projects That Didn’t Cut Prices
Friday, July 30, 2010
Many condominium projects are returning to the market after waiting out the downturn, and some haven’t reduced prices.

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Living In: Hints of Recovery for Riverfront Village
Friday, July 30, 2010
A Rockland County village on the Hudson River was hit hard by the recession, but is making a slow recovery back.

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In the Region | Connecticut: A High-Rise On Hold
Friday, July 30, 2010
Highgrove, designed by Robert A. M. Stern, was to be the ultimate in Stamford high-rise living. But in the more than five years since sales began, the building is still unfinished.

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Real Estate Q & A
Friday, July 30, 2010
Leaving a co-op during repairs; the legality of security cameras; getting to a roof deck through the gym.

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In the Region | Long Island: Over-the-Top Open Houses
Friday, July 30, 2010
Real estate brokers are holding open houses with disco and cocktail parties that help forge strategic alliances as well as sell homes.

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House Tour: Great Barrington, Mass.
Friday, July 30, 2010
A light-filled house on a hillside in Great Barrington, Mass., is designed to show off art, minimize maintenance and increase energy efficiency.

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Big Deal: Damon Dash, Hip-Hop Entrepreneur, Sells Condo
Thursday, July 29, 2010
A TriBeCa apartment owned by Damon Dash sold for $5.5 million. A second Dash property, also in TriBeCa, failed to sell.

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Square Feet: Near Yale, a 32-Story Gamble Rises in New Haven
Wednesday, July 28, 2010
The developer of the new apartment complex hopes it attracts Yale graduate students and the medical community.

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International Real Estate: House Hunting in ... Cornwall, England
Wednesday, July 28, 2010
The Cornish residential property market was sluggish last year, but has picked up in 2010 with gains of 5 to 10 percent, depending on the area.

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On Location: In Shanghai, an Expatriate’s Hunt for a Traditional Apartment
Wednesday, July 28, 2010
A Los Angeles native’s move to Shanghai and her hunt for a traditional apartment.

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Property Values: What You Get for ... $580,000
Tuesday, July 27, 2010
A four-bedroom plantation house in Mississippi, a two-bedroom contemporary in Dallas and a three-bedroom house in Maine.

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