Weekly Roundup: Beresford auction, Brooklyn’s Manhattanization, latest market stats, celeb moves, same old loan limits, staging errors

Question facing downtown is whether hurricane stigma short-term phenomenon

Value of views depends on what you see and from what height

Mitchell-Lama program originally aimed to help ‘blighted’ neighborhoods

It is possible to double-check suspicious prices in city’s property records

Foreclosure auction scheduled for Beresford co-op listed for $7.35 million

Residential buildings largely account for 17 percent growth of stalled construction

Price data show ‘Manhattanization’ of condos in hot Brooklyn neighborhoods

Banks hesitant to offer financing for co-ops in buildings with only five or 10 units

Stuyvesant Town tenants reach $68 million settlement with controlling company

Pop queen’s Central Park West duplex is listed for $23.5 million

Actor in search of buyer for Chelsea penthouse Continue reading

Out and About: A dormitory for $10.5 million

In a classy full-service Lincoln Square high-rise, the condo is on a very high floor with superlative views of the skyline, parks and rivers in three directions.

Monthly nut: $7,082.  Asking price:$10.5 million.

Covering 4,134 square feet, the apartment is undeniably spacious.  There are a living room (22’7″ x 19’4″), den (11’2″ x 10′) and “great room” (21’3″ x 16’3″) at the western end of the place.

Visitors entering at the opposite end of a nearly 40-foot-long hallway, termed “gallery” for marketing purposes, peer down a very long tunnel past the doors of five of the unit’s six bedrooms splayed left and right like a high-class college dormitory or hotel.

At the end of the “gallery,” Continue reading

Out and About: The trouble with boxes

What buyer doesn’t savor the idea of a desperate seller?

Almost nothing spells desperation more clearly than the sight of moving boxes piled in a corner.

So it was when I stopped by an open house of a one-bedroom co-op in the very low 90s between Riverside Drive and West End Avenue.  The sound of prospective purchasers smacking their lips was practically audible.

And well they may have appreciated the 750-sf corner unit, which contains an above average eat-in kitchen, spacious living room, plenty of closet space, nicely updated bath with subway tiles, through-wall air conditioning and generally open exposures in three directions.

The only issue worth noting is Continue reading

Out and About: $25 million is a lot of money

Fully paneled dining room of mansion on Central Park West.

Only buyers can determine what a property is worth to them, so there’s no way for someone who isn’t a lender’s appraiser to decide with any level of certainty the value of the mansion on Central Park West.

Twenty-five feet wide in the mid 80s, the house retains many original details such as carved mahogany mantles, bay windows, coffered ceilings, paneled dining room, very high ceilings, impressively scaled main floor and stained glass windows evocative of Tiffany.  There are three exposures and four outdoor spaces.

Three of the five floors were renovated to various standards, including central air conditioning; the top two floors have been gutted, exposing pipes and opening up walls and ceilings. Continue reading

Out and About: You call that a dining room?

Call me a Luddite, but I think of a room with four walls when “dining room” shows up in a listing or on a floor plan.

With just two walls that mark the ends of an alcove, I’d call it a dining “space.”  Technically, however, I’m wrong, according to the New York City Administrative Code.

The Code specifies that a dining space may be no bigger than 55 square feet; that limitation suggests that anything else may be called a dining room.  (No dining “space” is permitted in an apartment with fewer than three rooms, the Code states.)

As is evident in the floorplan above, Continue reading

Weekly Roundup: Rents rise again, celebs on the move, U.S. prices up, Omaha one ‘livable’ city

Biggest and best Manhattan residential properties exceed prior peaks

Council raises fines on owners who illegally turn residential units into hotel suites

Owners of glam Brooklyn condo accuse developers, other companies of lapses in $200 million lawsuit

Manhattan rents again at all-time high, so apartment hunters accept compromises

Actor contracts to purchase three-bedroom Central Park West co-op that had rejected Mariah

After actress’ and partner’s move to the Village, she sells co-op in the city for $1.59 million

Can rock star feel the profit today in sale of his West Hollywood condos?

Johnny Continue reading

Out and About: Hard sell goes in just four months

Nice views from two-bedroom Upper West Side apartment.

An attractive apartment in a good location that has all the right features and a reasonable price normally sells with relative ease.

The two-bedroom, two-bath condo on a corner of Amsterdam in the low 90s had everything going for it — everything but the ability to see beyond the white panels that shrouded the windows for months during construction.

While property on the market often demands a buyer’s vision, this one called for an unbridled imagination. Continue reading

Out and About: Sow’s ear into silky sale

Something there is that doesn’t love a wall, that wants it down.

There probably isn’t a single apartment or townhouse without its drawbacks.

In the case of a beguiling co-op in the high 80s between Columbus and Amsterdam avenues, the biggest — and perhaps only — drawback is the walls just outside the kitchen’s and one of the bathroom’s windows.

The designer who has put the place on the market for $699,000 with monthly maintenance of $1,147 has lovingly stripped and burnished the woodwork, selected warm and complementary paint colors, and had new hardwood flooring installed.  To my mind, his taste is beyond reproach.

But I was Continue reading

Out and About: Against the odds, different owners approve purchase of 3 adjoining units

In a building that I have often visited, this listing is not one that I happened to see.

But it caught my interest when a friend who lives in the somewhat dowdy Upper West Side building on Riverside Drive in the very low 90s expressed wonder at the asking price close to $9 million.

Although large apartments are much in demand, it is a lot of money, especially in light of the more than $1 million in renovations that likely must be undertaken to combine and, where necessary, upgrade the three co-ops (floorplan above) on the market as a single penthouse.

According to my friend, the couple in one of the units Continue reading

Out and About: Sale history could set record

Hours add up. . . to years. (Flickr photo by Ömer Ünlü)

It is pretty likely that some apartments and townhouses have been on the market for even a longer time, but a 2,030-sf apartment that has vainly sought a buyer at least since 2005 certainly deserves notice.

Vacant and desperate for renovation, the classic six-room condo is on a low floor of a desirable full-service building on Central Park West in the low 60s.  There are direct park views from living room and logical master bedroom (where the sound of screeching bus brakes does not make for easy listening), formal dining room,  maid’s room, galley kitchen, two bedrooms and two and a half baths.  A structural column in the middle of a vast foyer makes that space pretty much unusable.

Here is the strange price history to date Continue reading