Summetime, and the living's easy. (Corcoran/Newsday)

Tamir Sapir may have sold his mansion on Fifth Avenue's gold coast last summer, getting a whopping $44 million from Mexican mogul Carlos Slim, but this year he has found an equally impressive spread to call home for the hot months.

Mr. Sapir, the cabbie-turned-city-shaping-developer, is renting a huge compound in Southhampton that once belonged to another real estate power player, according to the Post.

The waterfront estate — two homes on a bluff with stairs to the beach — includes a pool, two spas overlooking the bay, a tennis court, two cabanas and a generator. The main house, a traditional shingle-style home, has 10 bedrooms and 7½ bathrooms.

The property, once owned by fellow New York real estate bigwig Andrew Farkas, was listed at $260,000 from Memorial Day through Labor Day. In the past, Sapir, who was born in the former Soviet republic of Georgia, spent summers on his yacht. Now, multiple Russian billionaires have been spotted on the way in and out of his rental.

It could be Mr. Sapir had to flee his float, having been busted two years ago for harboring exotic animals. Or it could be he has grown seasick, as Curbed revealed his "deteriorating condition" last August.

As for Mr. Farkas, The Observer broke the story about his purchase of the home seven years ago. He paid $5.4 million in 2004, and it was on the market last year for more than $9 million. Maybe he got tired of all the Russian billionaires hanging around.

mchaban [at] observer.com | @MC_NYC

The deputy mayor for economic development since 2008, Mr. Lieber today announced he would be leaving the Bloomberg administration to work with real estate investor and former Andrew Cuomo employer Andrew Farkas, founder of one-time powerhouse firm Insignia (which later became CB Richard Ellis) and a person who had worked with Mr. Lieber in the past.

This makes him the third deputy mayor to depart in the past three months, an exodus that invites a major change in the voices surrounding the mayor. (Ed Skyler announced his departure for Citigroup in March, as did Kevin Sheekey with his move to Bloomberg LP.)

A former real estate banker at Lehman Brothers, Mr. Lieber was brought in to city government in 2007 after he helped the Bloomberg administration with an analysis on the World Trade Center, assisting city officials with their plan to restructure a financial deal at the site. He was given the post of president of the Economic Development Corporation, working a year in that job before being appointed successor to Deputy Mayor Dan Doctoroff, who left to run Bloomberg LP.

His charge was to implement the long list of projects that Mr. Doctoroff and his staff had dreamed up, with the expectation of a two-year commitment, since the mayor had yet to overhaul term  limits.

Within the real estate field, comparisons still abound between Mr. Lieber and Mr. Doctoroff, the lead booster for the Olympic bid who had grand dreams for economic development and planning, and a hard-driving driving style that often drew detractors. To be certain, Mr. Lieber did not assume the high-profile character of Mr. Doctoroff, and was known for a more relaxed and less aggressive style when dealing with elected officials or neighborhood groups—an approach that elected officials generally seemed to appreciate. And in the end, he did get major development plans through the City Council, such as Coney Island and Willets Point in Queens (the exception was the Kingsbridge Armory in the Bronx, for which the administration suffered a defeat when living wage came to dominate the issue).

THE FREQUENT COMPLAINTS about Mr. Lieber, including from some on his staff, was that he lacked vision, sticking to what was already on the agenda and not pushing the envelope to deviate from it. Still, he was handed a plate of projects that was probably far more than any administration could realistically take on at once, particularly as budgets shrunk and complexities became apparent.

He leaves behind an economic development direction that was still quite focused on real estate development, particularly on two major development projects that have grown in cost, and that arguably seem more complex and distant in terms of reality than when they were first proposed. Coney Island, for which the Bloomberg administration negotiated a favorable deal to buy property from an intransigent private landlord, appears to need hundreds of millions in infrastructure work before any significant housing or commercial development can occur. And Willets Point—which at one point city officials said they intended to bid out to developers before the end 2009—is gradually moving forward but has been slowed significantly by the market.

Some efforts were made to diversify the economic development agenda beyond real estate—the EDC launched notable media, finance and fashion-related programs, and has shown more interest in a working waterfront—but the emphasis is still on development projects.

In one of his more bold moves since coming in, Mr. Lieber recently has focused on pushing the state out of shared city/state assets and development projects, and has helped negotiate deals to take control of Governors Island and Brooklyn Bridge Park. He has also recently focused on taking over Battery Park City, highlighting the economic benefits to the city, however the political complexities of such a move are not yet clear.

ebrown@observer.com

He has acquired Centerline Holding Company, a commercial real estate servicer that is servicing more than $110 billion dollars in mortgages, including several backing some of the city's most substantial skyscrapers.

Mr. Farkas--whose name means "wolf" in Hungarian--had previously hunted for Manhattan real estate, snatching up distressed real estate partnerhips in the 1990s, before becoming Dubai World's man in Manhattan. He cashed out that stake just before Dubai World admitted it would have trouble paying back its myriad creditors.

The deal keeps Centerline out of bankruptcy, but, according to the Journal, leaves many of its bondholders wondering how aggressively Mr. Farkas will represent their interests.

The move might also be bad news for--of all people--Andrew Cuomo, a former employee of Mr. Farkas's Island Capital Group. When he ran for attorney general in 2006, Mr. Cuomo was forced to answer questions about how he came to work for Mr. Farkas, after Mr. Cuomo had previously authorized a suit against Mr. Farkas's former firm when the aspiring A.G. was secretary of H.U.D. in the late 1990s. Mr. Farkas went on to become one of Mr. Cuomo's most generous donors, according to the Village Voice, and the re-emergence of Mr. Farkas comes as Mr. Cuomo prepares a long-presumed bid for governor.

And a letter from Farkas's lawyer to the Village Voice warning of possible libel was also sent.

The New York Post endorsed Cuomo, noting "Cuomo's greatest asset may be his chief opponent in the primary race, perennial candidate for high office Mark Green." A preview of the Rev. Al Sharpton's endorsement today of Cuomo is discussed here.

George Pataki hailed the opening of the Tribute Center, which honors people lost on 9/11. The Times noted "This will be a long interim" since the permanent memorial is not scheduled to open until 2009.

The Post and Daily News give their front pages to the newly released health study of 9/11 rescue workers.

Democrats and some Republicans, like CT Rep. Christopher Shays, want Donald Rumsfeld to resign.

And the city's Campaign Finance Board wants to slash contribution limits for people doing business with the city.

-- Azi Paybarah

The media has been pretty rough on Andrew Cuomo this week. First the Andrew Farkas story, then questions about Andrew Farkas story, and finally, a story about the Andrew Farkas story.

So I thought this picture I took last night might sum up Cuomo's feeling about the media this week.

-- Azi Paybarah

The former HUD secretary sued Farkas for diverting federal funds to management instead of housing maintenance-- and then went on to work for Farkas and accept campaign contributions from him. According to Barrett, Farkas still considers Cuomo's suit a mistake. "Andrew was wrong," Farkas claimed.

But according to the notes Anna kindly passed on, the two seem to hold each other in the highest regard. Cuomo explained their beginnings thusly:

Farkas, for his part, was sad to see Cuomo return to politics.

-- Jason Horowitz

Surrounded by more reporters than have covered his campaign so far, King said he received phone calls from Rev. Jesse Jackson and Rep. Charlie Rangel telling him its time to support the person who is going to win.

Cuomo said King was "exactly right" on a number of issues he raised during the campaign. Both suggested -- but stopped short of explicitly requested -- that Mark Green drop out of the race.

Before leaving, Cuomo was asked three times about relationship with Andrew Farkas, which Wayne Barrett describes in his Village Voice article this week. (Short version: While he was at HUD, Cuomo sued Farkas -- a developer who was involved with some dirty schemes invoving federally funded housing projects -- before going on to become Farkas's employee and a major recipient of his campaign contributions.)

Cuomo said he that he hadn't read the article. When I asked him again about the story, Cuomo quickly walked away to say hello to some supporters. Moments, trailed by a few more reporters, Cuomo said the story of his relationship with Farkas was first "written four years ago" and is "factually incorrect."

He didn't say precisely how.

-- Azi Paybarah

It appears he's found one.

In January, township records show that Mr. Farkas-now the chief executive of Island Capital Group, a real-estate investment firm-purchased a Hamptons home in North Sea for $5.4 million.

Mr. Farkas was traveling to Dubai and unavailable for comment. A general contractor at Mr. Farkas' office, who is working on the renovation, said the home is being worked on, but declined to give specifics on the spread, saying only, "It's a terrific property."

According to the Southampton Assessor's Office, Mr. Farkas' Hamptons perch sits on 2.74 acres abutting Little Peconic Bay. Records also indicate that his spread is a 3,505-square-foot home with five bedrooms, four full bathrooms, two half-bathrooms and two fireplaces, and was described as "old-style."

In July 2003, Los Angeles–based CB Richard Ellis Inc. bought Mr. Farkas' former firm, the Insignia Financial Group, for more than $400 million. According to the company, the merger created the world's largest manager of commercial property, with 16,000 employees spread across 47 countries and $90 billion worth of annual sales and leasing transactions.

Mr. Farkas, the son of the former chairman of Alexander's department stores, pocketed more than $15 million in the merger, according to the New York Post . Recently, the 43-year-old real-estate mogul has pursued other big-ticket purchases along with his Hamptons house grab. Last year, his new firm, Island Capital, agreed to buy Insignia's real-estate investment assets in a $44 million deal.

On May 1, the European Union expanded by adding 10 new member states to the political patchwork of countries stretching across the old continent. But late last year, the Luxembourg Mission to the United Nations made an expansion of its own by purchasing a 1,312-square-foot apartment owned by the international financier Jaqui Safra, at 40 East 94th Street.

According to city records, the Grand Duchy of Luxembourg purchased the apartment owned by Mr. Safra for $1.45 million. Currently, Luxembourg's ambassador to the U.N., Jean-Marc Hoscheit, resides in two conjoined apartments next to Mr. Safra's 28th-floor spread on 94th Street, between Fifth and Madison avenues. The mission purchased the two apartments, which total 3,122 square feet, for $745,500 back in 1984.

Now, by adding Mr. Safra's Carnegie Hill perch, Luxembourg's diplomatic residence totals 4,400 square feet. The addition includes four and a half rooms, sweeping park and city views, and a built-in washer and dryer. The mission now plans a renovation to combine all three apartments into one luxurious residence.

"The residence has been for years in this location. It's been felt for some time that this residence was too small. We were lucky enough to have the opportunity to buy the adjacent apartment and expand," a member of the Luxembourg Permanent Mission to the U.N. told The Observer . "When it all comes together, we hope to begin renovation as soon as possible."

Mr. Hoscheit will be renting an apartment near the U.N. headquarters during the renovation.

Real-estate sources familiar with the property say that Mr. Safra didn't occupy the apartment, though he had once used the address as an office.

Mr. Safra was traveling and unavailable for comment. Nancy Dubin, a senior vice president with Halstead Property, who handled the sale, declined to comment.

Still, it was Mr. Spiegel's higher bid on the 23-foot-wide limestone townhouse at 631 Park Avenue that won him the $12.7 million digs several months after Mr. Farkas placed a bid; and it's Mr. Spiegel who now is selling.

If he's still looking, Mr. Farkas-who has been the subject of criticism from some shareholders decrying his use of corporate funds for boating and plane trips-may want to consider Mr. Siegel's apartment, on the market now for $4.75 million. The duplex unit spans the eighth and ninth floors of 130 East 67th Street, a 12-story Italian Renaissance palazzo-style building on the corner of Lexington Avenue. The apartment has three bedrooms (including a spacious master suite), three-and-a-half bathrooms, and a maid's room and bath. The recently renovated 4,300-square-foot apartment also has a library, a formal dining room, a custom-designed eat-in kitchen, four wood-burning fireplaces and a laundry room.

The new buyer will have to pay 50 percent down and a monthly maintenance charge of $5,075.

The apartment only hit the market yesterday, so few, if any, besides real-estate agents have had a chance to tour the property. But brokers had less-than-charitable things to say about the building's location.

"It's dogland," said one veteran Upper East Side broker. "You've a fire house, a police station, Hunter College and then the Armory."

Rebecca Steindecker, of Insignia Douglas Elliman, the listing broker for Mr. Siegel's co-op, didn't return calls for comment.

In June 2002, Crain's New York Business named Mr. Siegel one of the 100 most influential business leaders in New York City. From his perch atop Insignia/ESG, he plays a make-or-break role in the selling and leasing of some of the city's most desirable commercial addresses. Under his tenure, the company brokered such mega-transactions as J.P. Morgan Chase's 1.3-million-square-foot acquisition at 277 Park Avenue, and MetLife's 1.44-million-square-foot berth at 1 Madison Avenue. Mr. Siegel was previously the president of Insignia/ESG's predecessor company, the Edward S. Gordon Company, which the Insignia Financial Group bought in 1996 for $74 million.

UPPER EAST SIDE

151 East 83rd Street

One-bedroom, one-bathroom co-op.

Asking: $425,000. Selling: $415,000.

Maintenance: $693; 49 percent tax-deductible.

Time on the market: one day.

DELUXE APARTMENT IN THE SKY A single woman in her late 20's had been renting at a high-rise building at 185 East 85th Street-the building featured in the title credits of the 1970's television show The Jeffersons -but decided it was time to move on up. After dissolving her portfolio of tech stocks, she started canvassing co-op buildings in the posh neighborhood-but unlike many New Yorkers looking for apartments, she kept her search quiet. "She didn't want to run the risk of embarrassment, had she not gotten past the co-op board," said her broker, Sarah Steinberg, a sales associate at Ashforth Warburg. "It's kind of like public humiliation if you get turned down." Nor was Ms. Steinberg taking any chances: The broker-whose mother and father are Renee Bross and Richard Steinberg, veterans of Ashforth Warburg themselves-checked with her family about the co-op board at a building where a brother and sister had put their second-floor pied-à-terre on the market. In no time, the accommodating board approved her, and she's already at work picking out Pierre Deux toile fabrics.

TURTLE BAY

229 East 49th Street

Four-story townhouse.

Asking: $2.7 million. Selling: $2.45 million.

Taxes: $32,000.

Time on the market: eight months.

YOU'VE COME A LONG WAY When his elderly mother became ill, a nonpracticing real-estate broker decided to move to Wisconsin so he could be there at her side. First, he sold off a four-story townhouse he owned elsewhere in the city, and then he listed this five-story, five-unit townhouse (where he was living on the first floor). The brownstone building's front yard has a small garden with a maple tree, and the back garden had a bird bath-but that went with the owner to Wisconsin. After a sleepy summer-i.e., not much interest in the place-two women appeared and made bids on the building. One, a married woman, ran a pharmaceutical company in Maryland; the other ran a bed-and-breakfast in Washington, D.C., called the Mansion on O Street. She was looking to move closer to her boyfriend in Manhattan. "Usually, it's the men who make these kinds of decisions, and here we had the women doing it," said the broker on the deal, Midge LaGuardia of William B. May. "I loved it; I like to see women empowered." In the end, the pharmaceutical-company owner took the property with the higher bid. And because she decided only to occupy the building's first floor and basement, the tenants on the upper floors got to stay put-saving the old owner the expense of buying out their leases.

CHELSEA

465 West 23rd Street

Two-studio co-op unit.

Asking: $650,000. Selling: $650,000.

Maintenance: $1,200; 52 percent tax-deductible.

Time on the market: 30 days.

GREATER LONDON At the storied London Terrace, more and more of the younger set that has traditionally lived in the almost 1,700 densely packed units are yearning to stretch their legs a bit by buying up contiguous smaller apartments and combining them into larger spaces. The 14-building complex takes up an entire square block between Ninth and 10th avenues and 23rd and 24th streets, so there are often several directions in which to expand. "A lot of my clients, they don't care what they have to do," said the broker on this deal, Susan Singer of the Corcoran Group. "They'll take whatever combos they can get."

Some of the residents who haven't left are photographer Annie Leibovitz and Blondie rocker Debbie Harry. Another one is a single guy who runs an ad agency that specializes in airline advertisements. He had been renting there and leapt at the opportunity to buy these two side-by-side studio units. They were owned by a brother and sister who own a modern-art gallery in Soho, who decided to find places outside the city. That gave the ad man a post-renovation total of 1,000 square feet-which was nice, but still not enough. So three weeks after closing on the two studios, he asked Ms. Singer if any of his soon-to-be new neighbors would be interested in selling their places. Luckily for both of them, they found a taker in a 15-year veteran of the building, upping the ad man's sprawl to 1,500 square feet. After the renovation, he'll have nine windows in a row that capture the building's coveted southern views.

217 West 19th Street

Unapportioned condo loft.

Asking: $1.235 million. Selling: $1.235 million.

Charges: $2,215. Taxes: $120.

Time on the market: one day.

NO PEACE Every weekday morning since he moved into his old 750-square-foot Chelsea apartment in 1996, Stuart Sussman could count on his downstairs and upstairs neighbors' noisy morning routines to wake him up at 7 a.m. So when he learned in April about a new condo development going up in his neighborhood at the site of the Dance Theater Workshop, he pounced on it. "I missed out on everything else," said Mr. Sussman, "including the Chelsea Mercantile, so I said, 'I'm going to call the first day that the sign goes up.'" He did just that, putting in a call to Insignia Douglas Elliman broker Natalie Rakowski at 9 a.m. on the day she began to officially market the new development. By noon, he'd made an offer at the asking price. In Mr. Sussman's new building, the Dance Building, the first three floors will be home to an expanded Dance Theater Workshop. The upper eight floors have sprawling lofts, with no columns to break up the space. Mr. Sussman's 2,215-square-foot unit, on the fifth floor, has a finished bathroom and kitchen. For about $150,000, he'll build out two bedrooms and one more bathroom in the space. Mornings are quieter for Mr. Sussman now, but evenings have brought him a new headache, with the recent opening on his block of B'Lo, a dance club. Mr. Sussman said he's already lodged several complaints with Community Board 4-and he's not the only one. "Our phones have been ringing off the hook about them," said Board 4's assistant district manager, Michele Solomon. "Police have been called there repeatedly." Representatives for the club are scheduled to appear on Jan. 29 at a hearing of the Department of Consumer Affairs. "The issue is whether they're operating as a cabaret without a cabaret license," said Ms. Solomon.