Weekly Roundup: Inventory effects, moving actors, price gain questions, dubious lenders, N.J. condos, renovation tips, divergent forecasts

Despite short supply, citywide sales rise in 2012

Median Manhattan rent reaches $3,195 as sales inventory dwindles

23 new developments hitting market this spring

Closet space can account for substantial price differences

Lottery opened for affordable rentals in new luxe UWS building near Fairway

Auction scheduled for lakefront home in Copake

As supply becomes scarce, price growth is modest in Queens

Actor’s strategy for exiting Manhattan is move to Brooklyn

Greenwich Village home of classical music icon on market for $2.8 million

Here comes the profit for Continue reading

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Weekly Roundup: Basement apartments, seller’s market, plunging foreclosures, son of Lincoln’s house, trophy baths, Goldman Sach’s optimism

Manhattan luxury market unseasonably busy

Naturally occurring retirement communities populate Upper West Side

Condominium board gets TRO against Houston couple to prevent short-term stays

San Remo apartment offered for $29,750 in monthly rent went for $900 a month in 1940

Would changing rules for illegal basement apartments boost supply of affordable rentals? asks the Real Deal and Crain’s

Longtime home of Gershwin family goes on the market

Volume of property taxes kept increasing every year from 2005 to 2012

Residents of abutting buildings at war with developer of planned Fifth Avenue

Neighborhood group faults mayor’s plan for affordable housing

Fiercely competitive land prices forcing developers to build high-end condos

Sex symbol who has money troubles lists Malibu home for $7.75 million

6,800-sf TriBeCa penthouse wins undisputed approval of Brooklyn Nets star

New Jersey home was born to sell

Hip-hop star and reality spouse flip-flop Bel Air house handsomely

January numbers show 9.1 year-over-year sales growth, steady price gains so it’s a seller’s market

Supply of resale housing Continue reading

Weekly Roundup: Condos pipeline, easing rents, rising values, foreclosure pitfalls, hiding places, credit reporting errors, moving tips and more

Real estate pros expecting best year since fall of 2008

They’re taking Manhattan but leaving it alone

Strong demand has developers raising prices of new condos month after month

Construction loans easier to obtain

Jumping 54 percent in 2012 from prior year, new residential construction more than doubles from 2010

With tenants choosing to buy, rental market cools a bit

Report says ‘affordable’ housing too costly

Attorney general to stop settling escrow disputes, send parties to court instead

Celebrity chef moves to 4,650-sf Harlem townhouse

His mission of selling 2,200-sf East Village condo proves to be possible

Onetime Heisman winner Continue reading

Weekly Roundup: Sales and prices rise in Manhattan, surfeit of celebs on the move, U.S. stats up and down, yet another historic low rate

Manhattan sales jump 9.3 percent over year earlier in third quarter, median prices climb 2.7 percent

Residents praise lifestyle of small spaces, and developers show big interest in them

Much desired sponsor apartments in co-ops bear scrutiny

11 groups lodge lawsuit seeking to block NYU expansion

Prices of single-family homes in broad region off 2.6 percent from prior year, bucking national trend

10th annual Open House New York weekend to celebrate city’s architecture, design

Land-use committee approves massive Lower East Side development

To developer’s dismay, those billionaires strive to leave individualistic impressions on One57 tower

Oscar winner sells Upper West Side penthouse for more than $1.7 million

Actress’ puts Ojai retreat legally on the market for $10 million

Nick and Meagan seek Continue reading

Weekly Roundup: Renters reject commissions, pending sales up over year, rates set record, list IDs ugliest mansions, recovery talk ignites debate

Although able to buy multimillion-dollar residences, some very rich folks choose to rent at sky-high prices instead

Fire Department takes dim view of dangling air conditioners and undertakes strong action

Landlord’s empire of apartment buildings collects thousands of code violations

City comptroller expects large residential properties to maintain value

40 percent of renters say they won’t pay broker’s fee purely on principle

Some Brooklyn renters moving back to Manhattan, where they find cheaper digs

With luxury home sales hitting record, surging Hamptons activity nearly matches 2007

City Council overwhelmingly approves NYU expansion plan

Sales, prices of new condos in Brooklyn boom in Q2 vs. prior year

Westchester communities experience parent drain after commencements

Broadway couple trades hit musical for the Hit Factory

She kisses good-bye to Tribeca condo at a small loss

Filmmaker decides it’s time to sell California estate at an asking price of $9.5 million

Index of contracts signed in June Continue reading

The Big Apple: Median price grew most here

My coverage of New York City news likely will be sporadic over the next couple of weeks, but please do check here to catch up with important developments or perhaps my idle musings.

BANKS STRUGGLE TO SEIZE HOMES, MORE SO IN NEW YORK THAN ANYWHERE ELSE

It takes longer to foreclose on homes in New York than in any other state—and it’s getting longer every month.

Two years ago, the state began requiring that banks and borrowers attend settlement conferences before a foreclosure takes place.

While the conferences are popular with borrowers and have succeeded in helping some families keep their homes, banks have been reluctant to participate. That, and recent revelations that some lenders have improperly submitted foreclosure documents, has prompted judges to take a harsher stance with lenders.

CUOMO IS UNRELENTING ON PLEDGE TO CAP PROPERTY TAXES

Gov.-elect Andrew M. Cuomo is making clear to legislative leaders that one of his priorities is to cap local property taxes, a notion that would have large consequences statewide for homeowners and school districts.

Take my refrigerator, please, as the eighth item below suggests. No, not YOU! (Flickr photo by Tammy Green)

Cuomo is proposing a limit on the total amount of property tax dollars that can be collected annually by a school district, municipality or special district by capping the increase in the local tax levy at 2 percent or the rate of inflation, whichever is less, according to his campaign literature.  Schools traditionally receive the largest share of property taxes.

A cap would not directly affect New York City, where property taxes are relatively low because of revenue from the city’s personal income tax and where the schools are financed through the general city budget. But outside the city, New York is among the most heavily taxed states in the country.

D’YA THINK THIS NOMAD MIGHT HAVE A BOOK OR MOVIE DEAL IN THE BACK OF HIS MIND OR HIGHEST OF HIS HOPES?

Ed Casabian’s nomadic existence Continue reading

Weekly Roundup: Which city is dirtiest? And more!

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out another of today’s three posts.

$6.5 MILLION SURE BEATS THE $1 MILLION THIS MUSICIAN PAID FOR THE LAND ALONE

COMEDIC TV HOST WITH APPARENTLY STRONG LEGS IS MOVING UP IN THE WORLD

HERE’S YOUR CHANCE TO Continue reading