Weekly Roundup: Apartment bargains, price gains, sinking supply, mixed prognostications

Residential sales market attains highest peak in total dollars citywide since 2008 financial crisis, sales trail 2010

When it comes to the middle class, Manhattan naturally has one of its own

Winning design for micro-apartments allows for 55 250-to-370-sf modular units in Kips Bay

An UWS townhouse is listed for. . . $50 million

Closed sales in the Bronx slide to five-year low in 2012 as median inches up to $288,990

Major architecture firms expect 10-20 percent staff growth

First-floor apartment one of eight ways to get more space for less money

Zillow calculates 8.3 percent rise in home values

It is possible to avoid double taxation when refinancing in the city

If you can’t be too rich or thin, apparently you can have too much house

Average home price in the Hamptons sets record with surge of luxury sales

Sold price of Gramercy condop trimmed 67 percent from price that fashion designer had paid

Singer’s original $18 million asking price for Tribeca penthouse off key

It’s selling days Continue reading

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Weekly Roundup: All signs point to strengthening market in NYC and U.S., owners of luxury homes gild lillies, lighthouse in Chesapeake Bay for sale

Number of Manhattan properties under contract soars, inventory plummets during 2012

Q4 Brooklyn prices post biggest year-over-year price gain since 2006, while Queens median climbs 14 percent

Bars, restaurants and grocery stores can hurt quality of life, resales for residents of apartment buildings

Foreclosures mushroom in Queens, grow somewhat in Staten Island and the Bronx, slide in Brooklyn and Manhattan

Astronaut resists aiming for moon in putting Los Angeles condo on the market

Former baseball star lists sprawling Beverly Hills estate for $25 million

Actors who split in 2011 finally selling their UES triplex, for $9.25 million

TV judge lists Midtown pied-à-terre for $9 million — yes, for a pied-à-terre!

Estate of acerbic intellectual sells Chelsea penthouse to seven-time Emmy winner

Filmmaker offers Greenwich Village co-op for sale but plans no move to North Dakota

At 4.2 million, home sales Continue reading

Weekly Roundup: Rent control, record low, rates, renovations, rosier forecasts. . . much more!

Three-year extension of rent control becomes law

Area single-family homes experience 2.9 percent drop over 12 months

South Bronx burns no more

Trulia says it’s cheaper to rent than buy in Queens

Selling condos to moms and dads often comes down to child’s play

Harlem’s renaissance enjoys revival

Following reports of rent scams by Queens man, attorney general issues Craigslist alert

NYU’s Furman Center documents plunge in Continue reading

Rat Island goes for $176,000 at auction

From left, Red Brennan and winning bidders Alex and Noelva Schibli (c)

Rat Island, that inhospitable slab of rocks off City Island in the Bronx, sold at auction Sunday for $176,000 (including 10 percent buyer’s premium), becoming perhaps the first such sale in New York City for centuries.

“The last time was $26 to the Indians,” the seller, Edmund “Red” Brennan, 73, in Harley Davidson braces, quipped while waiting for the event to begin. He was, of course, referring to the purchase of the island of Manhattan.

Rat Island with prospective bidder Steven Heyman (right) and a family friend in the foreground (c)

The winning bidder was a City Island resident, Alex Schibli, 72, who frequently swims or kayaks to the improbably desirable slab of rocks.  With wife Noelva nodding approval, Shibli told me that he wants to keep Rat Island clear and natural for his family’s use.

There were were but two determined bidders once increments of $10,000 took the action above $50,000, the second one being a Westchester internist.

Auctioneer Jack Lyon, in white, urging the Schiblis to bid more. To the couple’s left, the man with the moustache dropped out of the bidding at the end. (c)

Under sunny skies, auctioneer Jack Lyon began the sale at 1:25 p.m. by inviting a $500,000 bid before rapidly de-escalating to $350,000, whereupon the physician offered $10,000.  When the number reached $100,000, Lyon called for a minute’s pause, as he had indicated he would do, and it was all over by 1:32 p.m.

Although the winning bid had been announced as subject to the owner’s approval, Shibli didn’t have to wait long to know whether Rat Island was his.

“It’s a done deal,” said Brennan, who had traveled to the city from his retirement home in Jupiter, Fla. for the auction and for a daughter’s wedding Saturday night.

(An earlier version of this post erroneously omitted addition of the 10 percent buyer’s premium in calculating the winning price.)

Next post: Out and About on Tuesday

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Malcolm Carter
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Charles Rutenberg Realty
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You can buy your own New York City island

Own a piece of (the) rock. . . Rat Island.

Updated on 9/21 at end:

Off City Island in the Bronx, a New York City island called “Rat” can be yours at auction on Oct. 2.

The New York Daily News reported in 2009 that one Red Brennan, a 40-year marine contractor who salvaged barges and stored equipment there, was trying to unload the thing for $300,000.  Well, he failed in that effort.

The barren 2.5-acre Rat Island is to be sold at 1 p.m. Continue reading

Bankruptcy auction set for 2BR Chelsea co-op

Living room of 101 W. 23rd St., Unit 3J, in Manhattan.

A two-bedroom, one-bath co-op in the heart of Chelsea is to be among the properties auctioned Aug. 4 starting at 11 a.m.

Other properties on the block include a single-family house in Pelham Gardens, the Bronx; a two-family residence in Bensonhurst, Brooklyn; and a two-family house in Springfield Gardens, Queens.

The renovated 950-sf Chelsea apartment, Continue reading

The Big Apple: A 30-room co-op could be yours

High Line is proving to be an increasingly strong magnet for developers

With the next section of the elevated Chelsea park known as the High Line poised to open next month, New York developers are gearing up numerous projects along the route in hopes of capitalizing on rising interest in the area.

The High Line has helped transform an area that remains a long walk from public transportation, offers less retail than other downtown neighborhoods, and until recently was associated with crime and industrial blight.

The second section, which is slated to open sometime in June and will run from 20th Street to 30th Street, is a less-developed area but has already attracted new construction.

Even with $60 million for adjoining apartments, not just anyone can assume board approval in famed building

Two adjoining duplex apartments at a legendary Park Avenue address are about to be put on the market for $60 million.

The grand apartments on the 12th and 13th floors of Continue reading