big and tall
New York City has worked hard to present an appealing and welcoming image to the rest of the world, attracting a record number of visitors who spend money here and invest in city real estate. They create thousands of jobs and over $50 billion in economic activity. Tourism, hotels and construction are some of the largest economic and tax generators for our city.
Mayor Bill de Blasio today praised some of the biggest names in the real estate industry and told them he has no qualms about building large in the name of affordable housing.
“I’m looking forward to building upon on a lot of the relationships that I’ve already had the honor of having with folks in this room and getting to know people more deeply in the years ahead and working together,” Mr. de Blasio told the group, according to audio from the closed-door meeting released by his office.
Members of the well-connected Real Estate Board of New York praised Bill de Blasio this afternoon after the mayor attended a closed-door meeting with the group.
While many in the business community had been nervous about the left-leaning mayor and his plans to up taxes on the rich and force developers to build more affordable housing, members of the group’s board left today’s sit-down offering nothing but praise.
Don’t worry, your new roommate has already graciously agreed to take the couch since he “doesn’t sleep much anyway.” Read More
Broker? Damn Near Killed Her!
Where we try to make it through the most unnecessary real estate story to ever to come out of the Grey Lady, by imagining one smug couple’s on “the hunt” to fit their new home entertainment system into a Manhattan penthouse, with Dick Wolf’d finest on the case.
Detective Benson: What are we dealing with here today, boys?
Detective Rollins: (Handing her a file) Meet Brad Chatellier, 42, world-traveler–get this, he takes wildlife photography…
Ice-T: …Like birds and shit?
Late last year at the Peoples Improv Theater, Cristina Cote, one half of Corcoran’s superstar sales duo, the Terri-Cote Team, stood center stage, lip-syncing to Aretha Franklin. It was the night of her sold-out, all-female showcase, “HERsterical,” at the New York Comedy Festival. After watching the other comics in the lineup, including Saturday Night Live’s Vanessa Bayer, whose acts veered toward the dark and self-lacerating, Ms. Cote’s style was almost jarring, her vibe more old-school vaudevillian than dark ironist, more Lucille Ball than Sarah Silverman. “Our show is called ‘HERsterical.’ I think that’s a pretty clev-her title, isn’t tits?” the 26-year-old said with a wink.
Hot in Cleveland...?
All neighborhoods are somewhat in thrall to Manhattan, but Long Island City is haunted by it. By day, it’s noisy with the squeal and clatter of elevated trains, the rumble of delivery trucks on the 59th Street Bridge and the hum of subways beneath the sidewalks—a cacophony of people and paraphernalia, all shuttling across the East River. In the evening, the neighborhood is illuminated by the pale glow of Midtown skyscrapers and the streets hue yellow with the tide of returning taxis.
That Long Island City should be the next up-and-coming neighborhood has seemed obvious for decades; New York magazine christened it the next hot neighborhood in 1980, an imprimatur it would not give to Williamsburg for 12 more years. “Plainly, something is happening in Long Island City,” the magazine wrote and plainly, something was. Condos and chic restaurants were in the works, giddy developers were throwing around phrases like “Soho-plus” and “oil field,” and Robert Redford and Dustin Hoffman were zipping over to play afternoon games at Tennisport. Its vast stretches of sparsely populated land were so obviously ripe for redevelopment that its ascendance seemed all but inevitable—a fait accompli that for reasons no one ever quite seems able to account for has always fallen just short of accompli.
In the decades since, it has been called the next Williamsburg, the next Dumbo, the next Bushwick, Astoria-lite and, most inelegantly, “Fort Greene 10 years ago”—its arrival just as inevitable and just as elusive as it has always been, a thing that must be and yet is not.
The next nexus of the plaid and mustached is anywhere but Brooklyn. Read More
In 1981, when the actors Peter Maloney and Kristin Griffith purchased the townhouse at 126 West 87th Street, they likely had no inkling that either they or the home would make multiple appearances in Dick Wolf’s hit crime procedural Law and Order. (Its oak-paneled library and formal parlor have been particularly favored locales, according to the New York Times, and the pair has won roles in several of the show’s iterations.) Nonetheless, they were drawn from the first to the property’s spooky appearance, the result of years of disuse and dilapidation, and its presence on what was then a somewhat questionable block. Having perhaps effaced some of that spookiness since buying the house for $450,000 with some $2 million in updates and renovations, the couple has just sold the place for an even $7 million, according to city records.
The past decade has been the best of times—and the worst of times—in real estate. The recession cut access to capital, leading to slow development growth in New York. Fortunately, developers and buyers are coming back with a vengeance. As 2013 draws to a close, The Observer looked back at some of the challenges and high points of the past year, and what we have to look forward in the very near future. This is what’s in and what’s out in the New York market. Read More