On the Market: Steven Cohen Learns That Trophy Apartments Aren’t so Easy to Flip

 

digitizedchaos/flickr

digitizedchaos/flickr

The New York Times chronicles the Ansonia’s battle to evict a rent-regulated tenant with a house upstate, who argued that the tenant used the apartment as a holistic healing office. The court grudgingly allows her to stay, but only after writing that they are dismayed by the tactics she used to break the intent, if not the letter, of the law.

Steve Cohen is rumored to be freaking out over his unsold Beacon Court penthouse, according to the New York Post, which is asking $98 million and has spent more than a year on the market. The embattled hedge fund titan, presumably eager to raise cash to pay his mega-fine, even dropped the original $115 million asking price! We suspect, though, the difficulty in selling the place lies neither with the brokers nor buyers who “feel the place might have some bad karma,” but that the condo is asking $10 million more than the real estate record and there just aren’t that many house-hunting captains of industry to snap up $100 million apartments. Do not confuse trophy apartments with safe deposit boxes! The higher up in the housing market you are, the harder it is to get your money out in a timely fashion.

Does the Central Park Conservancy go far enough in spending several million dollars each year helping other nearby parks with maintenance and training? Crain’s asks. While everyone thinks the generosity is a good thing, some still feel that the Conservancy’s hefty annual haul of donations should be re-distributed to other, less well-funded parks.

An Uptown Jewish synagogue is continuing its somewhat sad condition of selling its home and moving further North, DNAinfo reports. Now selling its building at 179th, which it bought after moving from the 160s, it will move into a smaller space in the basement of a Jewish center by 187th.

What does your money actually buy in terms of amenities and finishes in the Monopoly-money world of Manhattan real estate? Luxury Listings New York breaks down what buyers’ millions are actually purchasing at various price points ranging from $2.5 million to $20 million and over.

Charles Urstadt, yes that Charles Urstadt, has penned an editorial in Crain’s urging Mayor Bill de Blasio to dissolve the Battery Park City Authority and use its substantial revenues to fund his affordable housing initiative. Which might be a good idea. It might also help Mr. de Blasio meet his ambitious 200,000 unit affordable housing goal without repealing the Urstadt Law of which Mr. Urdstadt is, apparently, still quite fond.

As Curbed points out, the actual penthouse at 1136 Fifth Avenue doesn’t bear much resemblance to Gossip Girl Blair Waldorf’s fictional duplex penthouse, allegedly at that same address. The actual spread, owned by Warner Music Group CEO Stephen F. Cooper, is a little more slick and less traditional than Waldorf’s, but you can redecorate it any way you want if you have $30 million to scoop it up.