Archive for September, 2011
Consolidated Edison is a profit-making business.
It paid $2.38 in cash dividends per share last year and declared a 60-cent per share quarterly dividend two weeks ago.
Those dividends resulted from $13 billion in annual revenues and $36 billion in assets. Yesterday, Con Ed closed at $56.11, pretty close to its 12-month high approaching $57.
I got to wondering about such things after (more…)
Public Administrator Ethel J. Griffin’s poorly attended estate auction of nine apartments Tuesday produced sales totaling only $2.374 million.
Five of the properties ranging in location from Chinatown to Washington Heights failed to attract even one bidder. A co-op on West End Avenue in Lincoln Towers sold to a sole bidder for its minimum of $300,000.
There were just two bidders for (more…)
I can think of many explanations for the stagnation of the U.S. housing market.
Among those that come to mind are consumer confidence, tight credit, the nation’s and world’s economies, and unemployment.
But a survey released by HomeGain that I recently came across may well rank near the top. I can’t imagine a more graphic illustration of our housing woes than the disconnect that the third-quarter survey disclosed between what sellers and buyers view as the value of homes.
Although I learned only that more than 500 real estate agents and brokers in addition to 2,500 homeowners responded to the questions, I’ll make the rash assumption that the survey’s methodology was scientific. If so, consider this startling information: (more…)
You have to feel sorry for the owner of an apartment on the market in the low 90s on Manhattan’s Upper West Side. The co-op hasn’t found a solid buyer since April. . . of 2009.
The 1,750-sf unit is on the ground floor of a 1925 building with several amenities between Amsterdam and Columbus Avenues. Although used as a residence, it is marketed as a professional suite.
Listed originally for $1.499 million, this three-bedroom, two-bath apartment with a formal dining room held its price until the following October, when it was offered for $1.375 million. A buyer had an accepted offer about a month later and a signed contract within a couple of weeks.
The property’s new listing agent says there were unresolved zoning issues, causing the transaction to fall apart, and (more…)
A total of 122 lots, acreage, camps, homes and commercial properties in Dutchess County head to the auction block on Oct. 5 at 11 a.m.
The properties, a few of which may appeal to second-home hopefuls, are in foreclosure because of owed taxes. In Tivoli, Red Hook, Rhinebeck, Hyde Park and elsewhere throughout the county, many of those properties are undeveloped land or unlikely homes for weekenders.
The auction is to take place (more…)
Call her June.
A mutual friend had put June and me in touch with each other a couple of months ago. She’s has on the market her Manhattan condo, a loft of close to 2,000 square feet that she and her husband had extensively renovated after their purchase a few years ago.
When the couple ran into financial straits, they listed the apartment for approximately $2.2 million about a year ago. That level, June confessed, was against her broker’s recommendation to ask less. Had she followed his advice, the place would be long gone.
Something on the order of 75-100 potential buyers looked at the place, but there were no offers. That number of lookers who didn’t even bid defines a property that is priced too high, and June now appreciates (more…)
I get it, really I do.
Brokers receive enough bad press that the last thing we need is criticism from within. So goes the conventional wisdom.
I respectfully disagree. (more…)
Unless the odor of cooking food happens to waft from a restaurant, I can’t say that I think of Chinese food very often when looking at apartments for sale.
But I thought of the choices that menus sometimes offer while visiting three apartments in the low 70s between Columbus Avenue and Central Park West. I’m not sure which of the three I liked best, perhaps the one-bedroom unit separated from the two-bedroom co-op by a sad studio.
Buyers can choose any of the apartments alone, combine the studio and one-bedroom, combine the studio and two-bedroom or purchase all three. They are lined up along a side of their 1925 building, which has a laundry room and concierge as its amenities. The current prices: (more…)