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: Shortage of condos, rates down again, strong signs of U.S. recovery, ugliest house

Lottery opens for 682 affordable housing rentals in Clinton

Number of condos projected to enter market in next few years likely to fall short of demand

With supply of condos dropping steeply, prices rise strongly

Basic steps can smooth apartment sale even before listing or searching

Biggest moving decision for parents centers on schools

Fierce competition in Manhattan pushes investors to outlying areas such as Nassau County

High rents causing drain of the middle class, comptroller reports

But billionaires buying many rooms they can afford with unforgettable views

New site grades each city block based on reviews of everything from crime to school, amenities (register free)

Rents for Boerum Hill studios swell 10 percent since July, topping gains elsewhere in Brooklyn

Accepting cash offer, an Ives grandson stymies plan to turn late composer’s home into museum

Actress is stoked to sell her Village duplex for $7 million

Music mogul lists 66th-floor condo for $8.5 million

After moving to California and renting out her downtown condo, Ryan’s daughter asks $1.645 for the unit (3rd item)

Curbed rounds up the buy and sell of Law and Order cast

Real divorce has couple putting Beverly Hills estate on the market for $26 million

Resales climb, prices go up and inventory Continue reading

2-BR Mitchell-Lama co-ops on UWS to be sold

The city’s Department of Housing Preservation and Development (HPD) is once again advertising a lottery for New York State residents to be placed on a waiting list for a two-bedroom apartment on Manhattan’s Upper West Side.

The co-op’s purchase price is only $26,376 with carrying charges of $357 to $688, depending on the number of dependents. Continue reading

Can you imagine a 2-BR Brooklyn co-op for $19,000?

The city has just announced the lottery to be placed on waiting lists for one-and two-bedroom Mitchell-Lama co-ops in the FortGreene/Clinton Hill part of Brooklyn.

One-bedroom units run $13,599-$16,757 and two-bedroom apartments, $18,985.  Monthly carrying charges are no more than $620 for the small units and $722 for the bigger ones.

As is the practice of the Department of Housing Preservation and Development, however, there is no clue either in the ad or on the department’s Web site just which buildings will be available.  And unfortunately, I do not know the neighborhood well enough to guess.

If you qualify for Mitchell-Lama income limits and Continue reading

The Big Apple: Sales spiked last spring, then sagged


LANDLORD SUES BROKER, ALLEGING THAT HIS FIRM DIDN’T LOOK OUT FOR HIS BEST INTERESTS

William Cornwell, a retired advertising art director, hired a brokerage firm to a rent out a studio in his West Village townhouse. Then a broker at the firm made him a proposition he found he couldn’t refuse: Why not rent it to me instead?

The result was that Cornwell, 74, signed two handwritten leases on two studios in his Greek revival townhouse, with the agent and the agent’s father, for below market rate and for terms of up to 20 years.

Now Cornwell is in court battling the broker and his firm, charging the leases violated the obligation under state law that a broker represent a client’s interests honestly, fairly and in good faith.  In addition, the state is now investigating the transactions.

IF YOU USE A COMMON CLOTHES DRYER AND ARE PARANOID ABOUT BEDBUGS, Continue reading