McMansion Mania

Paul Goldberger called it “a graceless, sloppy, cheap entertainment and office complex that would be an insult to an empty site in the middle of nowhere.” So who wants to save Penn Station?

It has been noted here before that the New York Times loves the term “McMansion.” However, Jon Gertner’s excellent magazine piece is an welcome exception to the typical use of the term. Mr. Gertner follows the buying of land, and rampant building of McMansions, err Estate Homes, throughout the country. Only 10 years or so until New Jersey is completely built up.

Upper Deck CEO Richard McWilliam is attempting a $15 million flip on Central Park South, according to the New York Times. Interesting, but haven’t we heard this news somewhere before.

Ivan Reitman will be checking into the Sherry-Netherland Hotel for $30,000 a month, and Carlos Beltran recently dropped $4 million on a Grand Beekman condo, according to the New York Post. Also, Russell Simmons has slashed his asking price down to $8.2 million, but I think we’ve heard that news before, too.

The New York Post gets bubble wrapped, and finds broker and buyers speculating about the much-discussed stats gleaned from the 3rd quarter market reports. While almost every market-related piece analyzes the drop in average sales price, there are plenty of other points worthy of consideration.

Finally: hipster pharmacies.

-Michael Calderone McMansion Mania