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Thursday's Real Estate Headlines August 11, 2011

Thursday's Headlines

August 11, 2011

NY Times

Middle Class? At $9.5 Million, Actor’s Home Is Far From It
The actor Alec Baldwin has not yet begun running for mayor of New York, but he is already saying things that could alienate the great number of voters who cannot afford expensive neighborhoods.

As Investors, Chinese Turn to New York
Chinese banks have poured more than $1 billion into real estate loans in New York City in the past year. Investors from China are snapping up luxury apartments and planning to spend hundreds of millions of dollars on commercial and residential projects like Atlantic Yards in Brooklyn. Chinese companies have signed major leases at the Empire State Building and at 1 World Trade Center, which is the centerpiece of the rebuilding at ground zero.

U.S. Seeks Ideas on Renting Out Foreclosed Property
WASHINGTON — Uncle Sam wants you — to rent a house from Uncle Sam.

Filing Challenge to Census, City Says 50,000 Weren’t Counted in 2 Boroughs
Invoking the Census Bureau’s own data and other evidence, New York City officials argued on Wednesday that the 2010 count had overlooked at least 50,000 residents of Brooklyn and Queens living in homes and apartments that the bureau incorrectly concluded were vacant.

Daily News

Queens to house nation's largest rooftop hydroponic greenhouse
BrightFarms, a Manhattan-based firm that designs, builds and operates high-tech farms, is gearing up to move its headquarters to Long Island City, the Daily News’ Jose Bayona reported.

Have $165,000 a month for rent? You could live in this UES mansion
As we compulsively check for news on how the stock market is faring, we've grown a bit conservative in our expenditures. Which is why when we saw the news on Curbed that a mansion at 4 E. 80th St. has been reduced from $210,000 a month to a measly $165,000, we got a bit giddy. It’s no time to make financial choices we can’t afford.

Tiger Woods' former flame Rachel Uchitel makes a profit on Park Ave. pad
Rachel Uchitel has been in the spotlight for mistakes – Tiger Woods, VH1’s “Celebrity Rehab” – but she seems to have gotten the New York real estate market just right.

Fifth Ave. Apple store to use only 15 panes of glass
There’s going to be one more draw to the mind-numbing crowds at the Fifth Ave. Apple retail store.

Alec Baldwin's Central Park apartment for sale for $9.5 million
On “30 Rock” Alec Baldwin’s character, Jack Donaghy, advises Liz Lemon to “never go with a hippie to a second location.”

NY Post

Prices remain low in on-the-rise Bushwick -- if you can find a place
Eleven years ago, while walking from the Morgan Avenue L stop to look at an apartment in Bushwick, Robin Stout and Paul Behnke were stopped by a UPS truck driver who’d pulled up alongside them.

Constance Zimmer gives downtown 2-BR dose of history

Constance Zimmer’s 3-year-old daughter, Colette -- Coco for short -- points to three crocheted pillows that sit on the floor of the East Village bedroom that Zimmer, who plays Dana Gordon on HBO’s “Entourage,” shares with her husband, commercial director Russ Lamoureux.

Crain's

Hedge funds find it hard to make statement cheaply
Supply of discounted sublease space in Manhattan slips to 21% of total, as pricing gap with direct-lease space widens; market tightest at top, in tower floors.

Observer

Obama Wants Rentals as F’d Up Foreclosures Drop to Four-Year Low
Good news! Foreclosures are at their lowest levels in four years!

American Idol Producer to Move Into Trinity Church’s 435 Hudson

FremantleMedia, among the largest producers of reality television brands in the world, including American Idol, America’s Got Talent and loads of other shows your kids watch, has signed an 8,000-square-foot lease at 435 Hudson Street.

Auction of Elaine’s Restaurant Memorabilia Includes an Art Trove
he storied Upper East Side restaurant Elaine’s, a favorite of New York’s monied and influential for decades, may have closed earlier this year, but boutique auction house Doyle is hosting a Sept. 20 auction that will allow bidders to take home memorabilia to remember the haunt.

Weprin Goes On The Attack
After weeks of taking pounding from Bob Turner from everything from for too many political offices to the City Council’s slush fund scandal to the Ground Zero Mosque–and mostly choosing not to respond in kind–David Weprin’s campaign has gone on the offensive.

Wall Street Journal

Wall Street Chills Real Estate
With falling stock indexes flashing on television screens across the country, broker Frances Katzen of Prudential Douglas Elliman and the owners of a three-bedroom duplex apartment near the top of a 36-story tower on East 57th Street decided to drop the asking price by $300,000 to $5.5 million.

Lower Manhattan Totes Up Rebound
After the devastation of Sept. 11, 2001, some questioned whether residents and businesses would flee from Lower Manhattan. Now after $30 billion of investment by public and private groups in the 10 years since the attacks, the neighborhood has shown a turnaround that skeptics doubted would occur.

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