Weekly Roundup: Some markets declined too far

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 the other of today’s posts and look for Out and About early next week.

She’s once again curbing enthusiasm for her Upper West Side apartment

In one broad stroke, he’s unloaded his chichi co-op at a huge discount

Big ideas pay off handsomely for one smart fella

Underpriced, his house under contract in the Hamptons gives him reason to cheer

Quarterback collects $17.5 million for condo that cost him $14 million five years ago

Mortgage insurer says home prices are below fundamental values Continue reading

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When is a living room not a living room?

Is this a kitchen, dining room or living room? The conscientious broker who listed the place on Manhattan's Upper West Side characterized it as a "great room." Photo below shows the opposite end.

If a room is not a dining space, kitchenette, bathroom, foyer or hallway, then it can be termed a living room, according to the New York City Administrative Code.  However, a bedroom can be marketed as a living room if it also does not function as any of the other rooms listed.

The minimum size of a living room is Continue reading

When is a kitchen not really a kitchen?

No one would mistake Julia Child’s kitchen for a typical one in the Big Apple.

Out-of-towners invariably know two things about New York City apartments: Prices are high and kitchens are small.

But how many consumers and brokers alike know what a kitchen is?  Yes, we have galley kitchens, country kitchens, eat-in kitchens and Pullman kitchens.

In fact, any space used for cooking either is a kitchen or a kitchenette, according to the city’s Administrative Code.

While a kitchen must contain 80 square feet, Continue reading