On the Market: Microunits Leasing; Upper Manhattan and Eastern Brooklyn Rents Soar

TheTurducken/flickr.

TheTurducken/flickr.

The DOB is investigating Common, a rental start-up that converted a building in Crown Heights into a 19-room SRO for which residents are to pay a staggering $1,800 to $1,950 a month, Crain’s reports. Common had tried to skirt the law by dividing the 19-bedrooms into four-unit “leases.” Crain’s notes that the per-room rents would put monthly cost of a three-bedroom apartment between $5,400 and $5,850, while current three-bedroom listings in the area on StreetEasy, which tends to skew high as it is, averaged about half that price.

Meanwhile, leasing begins today at the Kip’s Bay microunit development, now called Carmel Place, The New York Times reports, where prices are, incredibly, pretty similar to Common’s. Fourteen affordable units, for which 60,000 people applied, will be priced lower.

Upper Manhattan and Eastern Brooklyn—thus far the release valves of the overheated, overpriced Manhattan and Western/Northern Brooklyn real estate markets, are seeing the biggest price increases, DNAInfo reports. “Upper Manhattan — which spans from Harlem to Inwood and Washington Heights — saw the biggest jump at 20.4 percent, growing three times faster than Manhattan’s overall market.”

The Lowell hotel thinks it can get $300,000 a month for a three-bedroom penthouse, which was renovated in 2005, The Wall Street Journal reports. They’d better hope for some truly rich rubes…

REBNY and the unions are still far from reaching a deal on 421-a—the first time they have been required to do so—and now some preparing for the possibility that none will be reached and the tax abatement will expire, according to The Wall Street Journal.

Sick passengers have accounted for more than 3,000 train delays each month this year in New York City, up from about 1,800 in 2012, according to The New York Times. The MTA does not know the reason for the uptick.

With Food Emporium’s closure, Bridgemarket, a retail space within the base of the Manhattan side of the Queensboro Bridge, is now vacant, Crain’s notes. While many spaces formerly occupied by the bankrupt grocer will be taken over by other food markets, the Bridgemarket side has more robust possibilities. Meanwhile, Gristedes owner John Catsimatidis, claims that he has “been following my heart instead of following my pocketbook.”

DNAInfo has some suggestions for tackling the city’s de facto school segregation (which are far better than the Carmen Farina’s penpal suggestion).

Finally, in case you didn’t hear, John Zuccotti, a former deputy mayor who helped the city navigate the 1970s fiscal crisis and gave his name to the Lower Manhattan park that became the center or the Occupy Wall Street movement, died on Thursday night. He was 78, via The New York Daily News.

On the Market: Microunits Leasing; Upper Manhattan and Eastern Brooklyn Rents Soar