Weekly Roundup: Tax abatements, NYC’s worrisome Q2, U.S. recovery, gay neighborhoods, outdated decor, 30 richest cities and much more

Cuomo says he expects legislature to act in fall, so city retaining abated property tax levels

And appeals of property tax assessments near record number

Manhattan market verges on worried in second quarter

When seeking roommate on Craigslist, the details really matter

Landmark body approves one of three Riverside-West End Avenue historic districts, but others yet to face votes

Region’s foreclosure rate continues to grow

Neighbors rally to save historic Dutch Kills farmhouse

Condo boards Continue reading

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The bloom is off gentrification and trophy homes

The New York Times yesterday managed to discover a long-held precept of real estate sales: What we euphemistically term “transitional,” “gentrifying” or “emerging” neighborhoods are the first to suffer in a downturn.

At the same time, recent quarterly Manhattan market reports, which are summarized in my biweekly newsletter, document how severely the uppermost tier of supply has languished and how precipitously prices have dropped. Continue reading