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 Continue reading
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 Continue reading
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: Continue reading
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 Continue reading
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 Continue reading