Wednesday: Building Continues Despite City’s Low Scores

  • Manhattan appraisers Mitchell, Maxwell and Jackson are worried about inventory: “The big question going into 2006 is whether new development (an estimated 10,000-plus units) coming on the market will exceed demand,” stated Jeffrey Jackson, co-founder and chief economist at MM&J. (Inman Blog)
  • In other pricing news: restaurants as the car dealership. Frank Bruni exposes supplemental charges at Gilt, where a $92 fixed price meal is inflated by up to an extra $28 per appetizer. Plus, the average cost of a glass of wine is $246. (The New York Times)
  • A lavish development grows in Brooklyn among the Russian community. The Venetian on Avenue P, though, is just the beginning for Sitt Asset Management. The company also plans to build on Avenue U and Ocean Parkway with luxury meant for the tsars. (Brownstoner)
  • Why revisit the dramas of high school? (Apartment Therapy)
  • The City Planning Commission will hold a public hearing today to discuss an $800 million stadium and retail complex on city parkland near Yankee Stadium. The proposal was shot down by local Community Board 4, but approved by Bronx Borough President Adolfo Carrión. The planning commission will vote in late February. (Daily News)
  • The city awards property tax “discounts” to hundreds of companies through a plan negotiated more than 15 years ago that aims to encourage growth within the boroughs and dissuade executives from taking their business elsewhere.
    By the end of the June fiscal year, 238 firms will benefit. (New York Sun)
  • The City Art Commission approved plans for the Washington Square Park remodeling, which includes a perimeter fence and a relocated fountain. Residents are not happy, including “businesspeople” who may operate the area. (The New York Times)
  • New York Jews like Hillary, a lot. Maybe it’s because she has a degree from Yeshiva University, which just celebrated its 81st annual Hanukkah convocation. (The Village Voice)
  • Although it is illegal to knock down buildings with no immediate plan to replace them, if Ratner has his way these buildings will be gone. (Forgotten NY)
  • Indie rocking Luna Lounge may follow its audience across the bridge after condos chase them away. (Curbed)
  • The American Dream lives on when a Russian emigre and former cabdriver buys the Fifth Avenue Duke Semans mansion for $40 million. (The New York Times)
  • Tenants of the Exchange building at 25 Broad Street have been booted by the building’s new owner. (Curbed)
  • The new Bronx Library Center will open next week, yet seems slightly out of place at East Kingsbridge Road and Briggs Avenue, according to James Gardner, and that’s a good thing. (The New York Sun)
  • Even “industry boosters” are uneasy about the decreased rate of applications for purchase mortgages, which fell to June 2002 levels by late December. The Mortgage Bankers Assn estimates mortgage originations to drop by 18.6% in 2006. (Business Week)
  • The American College of Emergency Physicians graded New York state C-plus on its ability to handle a major health emergency, i.e. crazy bird flu. The country overall received a C-minus. (American College of Emergency Physicians)
  • - Riva Froymovich