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By Kim Velsey 9:55am

Elsewhere

On the Market: NYU Helps Finance Academics’ Summer Homes; Nobody Likes SeaPort City; BAM South to Move Forward

NYU gives its academic stars loans for summer homes. [NYT]
Some Stuy-Town tenants may get a reprieve from mid-lease rent hikes. [Curbed]
Chelsea Clinton’s husband lists condo, prepares for Whitman relocation. [TRD]
New York’s narrowest house finally finds a buyer. [Curbed]
Bloomberg’s SeaPort City plan hits with a thud. [WSJ]
Iggy Pop’s video tour of the East Village. [Gothamist]
Developers can’t agree on a name for the far East Village, but sales are brisk. [NYT]
Brooklyn paper reporter tries out for the Brooklynettes. [Bk Paper]
BAM South plan wins city council approval, but with a few concessions. [Crain's]
Michael Kimmelman on MoMA’s Le Corbusier exhibition. [NYT]
What we can take away from the Phoenix housing market’s resurgence. [WSJ]
Hundreds of residents are pissed about J. Crew pushing out Cobble Hill grocery. [Bk Eagle]

By Stephen Jacob Smith 6/17 3:05pm

Manhattan Transfers

Ms. Hovey channeled her "Palm Beach on crack" style into a more manageable dose of Adderall at the Edge.

Flipping Over the Edge: Williamsburg Penthouse Sells for $3 M.

With a forest of high-rises about to sprout on the Greenpoint waterfront and Two Trees looking to build Brooklyn’s tallest tower at the old Domino Sugar Factory site, the Edge and Northside Piers are about to have a lot of competition for waterfront views in northern Brooklyn.

But for now, they’re all we’ve got, and they’ve got the price tags to show for it: one of the penthouses at the North Tower at the Edge just closed late last week for $3 million, making it the first penthouse resale in the building. Read More

By Al Barbarino 6/17 12:16pm

Anniversaries

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The Watergate Break-In: 41 Years Later

On June 17, 1972—41 years ago today—five men were arrested after breaking into the Democratic National Committee headquarters at the Watergate Hotel and Office Building at the Watergate Complex in Washington D.C. Two years later, U.S. President Richard Nixon had resigned.

The burglars would ultimately admit to having photographed documents and wiretapped phones during that incident Read More

By Stephen Jacob Smith 6/17 9:30am

Elsewhere

On the Market: Brooklyn’s Mandatory Tech Triangle, Huge West Village Apartments, More Festruction at Prospect Park

The Brooklyn Tech Triangle wants to become mandatory. [Crain's]
Another festival coming to destroy Prospect Park. [BK Paper]
22-story hotel planned for East 47th Street. [TRD]
Eight units spread over 44,500 sq. ft. planned for Pat LaFrieda’s Village meathouse. [BBH]
Quinn, de Blasio and Liu want a rent freeze. [NYT]
Developers and contractors push Scaffold Law reform by June 20. [Curbed]
The sequester could force layoffs at NYCHA. [NY1]
James Gardner calls 3 Hudson Boulevard “another phoned in high-rise.” [TRD]
Sixth Avenue rents are falling. Good luck, 3 Hudson Boulevard! [WSJ]
Yorkville building continues NIMBY crusade against subway entrance. [DNA]
Left turn ban dooms Fourth Avenue safety improvements. [BK Paper]
Summering in New York: “Now it’s like all my peeps—it’s all Jewish women my age.” [NYT]
18 Gramercy Park sets a neighborhood price per square foot record. [TRD]
The EDC seeks developers for mall developers on Staten Island’s South Shore. [WSJ]

By Stephen Jacob Smith 6/14 5:41pm

Rent Check

Apartment buildings on the Grand Concourse are typical of New York City's rent-stabilized housing stock—not actually all that rent-stabilized.

Who Cares if the Rent Guidelines Board Doesn’t Meet in the Outer Boroughs?

Public Advocate and mayoral candidate Bill de Blasio is not happy that the Rent Guidelines Board, which decides rules on allowable rent hikes for stabilized apartments each year, has, citing poor attendance, stopped holding meetings outside of Manhattan.

“This arrangement all but assures the working people most affected by the board’s decision will be unable to participate, and their voices will have no bearing on the final rent increase decision,” Mr. de Blasio told The New York Times last week. “This is not a mere inconvenience—it is a downright failure of the democratic process.”

Mr. de Blasio’s complaint taps into two very powerful forces in New York City politics—outer borough resentment at being left out of Manhattan-centric decision making, and the pervasive feeling that the rent is too damn high. But is it justified? Read More

By Gus Delaporte 6/14 2:30pm

New Developments

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Chelsea Development Site on the Market

HFF is marketing a 7,583-square-foot development site at 140-144 West 28th Street between Sixth and Seventh Avenues in Chelsea. The site, which includes up to 144,876 square feet of development rights, is zoned for commercial use and is being marketed toward hotel developers.

“There are some investors thinking about the site for residential and its significantly more valuable as residential, but the highest and best use is as a hotel since it’s zoned for commercial use,” Andrew Scandalios, senior managing director, told The Commercial Observer. Read More

By Kim Velsey 6/14 12:59pm

THERE GOES THE NEIGHBORHOOD

Once it gets a DSW and a Pink Berry, Coney Island will really come into its own.

Coney Island To Become Cool and “Glitzy” With Chains Like Applebee’s, Johnny Rockets and Red Mango

Coney Island is okay and all—it has the Mermaid Parade and the Cyclone, the boardwalk and the beach—but some “hip” national chains like Applebee’s are poised to take the seaside destination to another level, according to the New York Daily News.

Because not only is the suburban staple “hip,” it is also glitzy—two words that though not often used in the same sentence, no doubt spring to the lips of New Yorkers when they think of strip malls, highway exit ramps and establishments that serve chicken tenders, mozzarella sticks and oversized, sugary cocktails.  Read More

By Kim Velsey 6/14 9:12am

Elsewhere

On the Market: Related To Ban Smoking In All Rentals; Reality Star Broker Investigated For Doctoring Photos; America’s Mansion Supply Is Dwindling

E gads! A woman sustained minor injuries on a Citibike. [DNAinfo]
How Superstorm Sandy will reshape the building code. [Crain's]
A changed neighborhood houses two architectural retail gems. [NYT]
Housing group presses New York’s next mayor to make affordable housing gains. [WSJ]
Ben & Jerry’s to create city-inspired ice cream flavors. [Atlantic Cities]
Manhattan broker investigated for photoshopping townhouse photos. [Post]
Related to ban smoking in all apartments nationwide. [NYT]
Williamsburg community board to fight boozy barbershop. [Gothamist]
Neither cars nor bikes flock to Barclays, arena-goers favor public transport. [NYT]
Thor Equities is also going on a buying spree in Chicago. [Bloomberg]
Midtown South office leasing tightens, but Downtown lags. [TRD]
Mansion supply dwindles in America’s wealthiest towns. [CNBC]
Meditation is becoming more mainstream in New York. [DNAinfo]
Now renters are unable to find a $2,800 a month two-bedroom in Greenpoint? [Brownstoner]
Storage companies focus on increasingly lucrative Manhattan market. [TRD]
Neo-traditional affordable housing rises in Bed-Stuy. [Brownstoner]
Daily News claims that Coney Island is attracting “hip” chains. Like Applebees. [Daily News]
MTA awards $208 million contract to complete the first phase of Second Ave. subway. [Crain's]
Fed paper revives debate about taking over underwater mortgages via eminent domain. [Bloomberg]