She who hesitates hardly is lost
Mildred Furiya bought her townhouse in Brooklyn for $16,000 in 1966 with a cash gift from her father. Now she plans to list the dwelling for approximately $1.895 million.
A sale at that price would represent an 11,744 percent increase over 45 years — or an annual return of about 11 percent, says the New York Times.
Numbers cruncher says he’s bullish on Manhattan
Manhattan just doesn’t behave like the rest of the country when it comes to residential real estate activity, says lawyer/blogger Ron Gitter in his introduction to an interview with another dual personality, broker/blogger Noah Rosenblatt, who has a terrific database of local housing activity.
At least in Manhattan, there may be a better view of what the future might bring, the interviewer concludes, by digesting the transaction data as it actually occurs and by tracking inventory levels in real time.
“I’m fairly optimistic that the next two quarters will show market stability, if not increased pricing,” Rosenblatt opines.
Mystery shrouds identities of seller and new owners of multi-million-dollar 15 CPW apartment
Purchased in June 2008 by an anonymous LLC, Unit 27A at 15 Central Park West has just gone to not one, but two, LLCs.
What an investment it turned out to be!
Poseiden LLC paid $11.7 million for the 3,100-sf three-bedroom condo, which has just sold for $24.5 million, to Julada LLC and Julada Two LLC.
Landlords now can perform an online update of housing violations
The city announced the launch of a new online system that will allow landlords to update easily on the Web any housing code violations that they have corrected.
The new eCertification program allows landlords to go to a webpage on the city Department of Housing Preservation and Development site and update any housing violations on their properties that have been corrected.
Prior to this system, landlords had to file paperwork separately for each violation among those that accumulated on their properties.
Even with hiring slower, city’s unemployment rate doesn’t budge
Hiring slowed in New York City last month, but the city’s unemployment rate held steady at 8.6 percent, the New York Labor Department reported.
Employers in the city added about 9,400 jobs in May, with many of the new positions created in hotels, restaurants and other businesses that benefit from tourism, according to a report on the department’s Web site.
Foreclosure filings surge in two states
RealtyTrac says New York and New Jersey posted double-digit increases in the number of bank-owned residential properties (REOs) last month, far outpacing other states.
New York registered a 97 percent spike in repossessions and New Jersey, 21 percent.
New York had a 13 percent increase in foreclosure filings from April but a 41 percent decline from last May. New Jersey filings dropped both month-over-month and year-over-year, by 15 percent and 87 percent, respectively.
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Charles Rutenberg Realty
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New York, NY 10022