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Monday's Real Estate Headlines September 26, 2011

Monday's Headlines

September 26, 2011


NY Times

In a Bronx Complex, Doing Good Mixes With Looking Good
Sometime late this winter people will start moving into Via Verde, the subsidized housing development now rising on a long, narrow slice of formerly contaminated city property in what used to be one of the worst stretches of the South Bronx.

After Perry’s Debate Showing, Eyes Turn Toward Christie
Tim LarsenGov. Chris Christie of New Jersey spoke at the Delaney Hall 10th Anniversary Ceremony in Newark in April 2010.
The reignited effort by Republican activists and donors to persuade Gov. Chris Christie of New Jersey to run for president may say more about the jittery state of the party’s major financial backers than it does about any possibility Mr. Christie will change his mind and announce a campaign.

Daily News

Your guide to Astoria's Little Brazil
Little Brazil is more than just a block in midtown — Astoria’s cultural melting pot includes a bustling strip of restaurants and markets along 36th Ave. catering to the Brazucas settling in the Big Apple.

'Housewife' Lisa Vanderpump buys stunning new Beverly Hills mansion
Lisa Vanderpump, a cast member of the "Real Housewives of Beverly Hills" may have downsized from her sprawling 17,000-square-foot mansion – but pictures show her new pad, also in Beverly Hills, is still quite a palace.

Ask a broker: Town Residential's Aeen Avini
Town Residential’s Aeen Avini went into real estate right after finishing NYU — and was lucky enough to land a big sale on his first day on the job. He goes the extra mile for clients — even if it’s while he’s in the back of their car with their luggage on top of him.

Belgrade Press: Jack Nicholson interested in apartment owned by former Yugoslav states
At least there's one thing the six cash-strapped former Yugoslav states can agree on: Selling a $12-million Park Avenue apartment in New York.

CDC Study: Do-it-yourself bedbug insecticides can cause illness
Worried about bedbugs? Maybe you should be more concerned about the insecticides used to get rid of them.

NY Post

New home sales fall 2.3% in August to 295K, marking fourth straight decline
WASHINGTON -- The sales of new US homes fell 2.3 percent in August to an annual rate of 295,000, marking the fourth decline in a row, the Commerce Department reported Monday.

Michael’s site on the block
The retail space that used to house a New York institution is finally back on the market -- and is waiting for a top restaurateur to restore it to its former glory.

Mike hails Chris for GOP prez run
Washington -- Mayor Bloomberg surprisingly became a cheerleader for a Chris Christie presidential run yesterday, gushing that the New

Andy waves an ax
Gov. Cuomo has drawn a line in the sand with the state’s second-largest public-employees union -- saying he will lay off 3,500 workers if their membership doesn’t approve a bare-bones contract when it votes tomorrow, The Post has learned.

NYPD air power couldn't have averted 9/11 attacks, Bloomberg says
The NYPD's air strike capability couldn't have averted the terror attacks on 9/11, Mayor Bloomberg said today.

Mosque falls short
The news should have reverberated all over the city -- The Ground Zero Mosque Blinked!

E. Side tenants in ‘toxic’ battle
A swanky East Side apartment building is a toxic time bomb, and its owners aren’t doing anything to stop it from going off, court papers charge.


Miracle on Sixth Avenue
Once again, we find ourselves in scary times. Over the weekend, even German Chancellor Angela Merkel found parallels between a possible default by Greece and the collapse of Lehman Brothers three years ago and the chaos it touched off. Worse, European authorities say it could take weeks or even months for them to come up with a new gazillion-Euro rescue plan/fund. No wonder not just stocks but junk bonds, oil, copper and even gold are all taking their lumps.

U.S. home sales drop to six-month low
(Bloomberg) - Purchases of new houses in the U.S. declined in August to a six-month low as the biggest drop in prices in two years failed to lure buyers away from even less expensive distressed properties.

4 East New York lots hit market at $1 each
City's Department of Housing Preservation and Development seeks developer to build up to 225 affordable housing units and 68,000 square feet of retail space along long-vacant strip.

NY building costs rise and jobs drop
Declining vacancy rates seen as offering some hope of a possible pick up in construction down the road. Costs climb as much as 3.6% in year, while employment falls 3%.

Brooklyn Nets and Jay-Z will christen new arena
The NBA team announces it will keep its name (but replace New Jersey with Brooklyn) when it moves to Atlantic Yards in 2012. Rap star Jay-Z, a Nets co-owner, will help break in the team's new arena with a series of concerts.

Magic Johnson among Amalgamated's investors
Union-controlled bank sells 40% stake to billionaires Wilbur Ross and Ron Burkle as well as the former basketball star. Move satisfies regulators' demand for bigger capital cushion.


On The Market: The NewsCorp Building is Popular; Ansonia Sign Draws Ironic Ire; History by Bike
Bids are coming fast and furious on the News Corp building at 1211 Sixth Ave. [Journal] The Catholic Church is selling off more NYC properties to provide debt relief. [Daily News]

How Michael Kimmelman’s First Architecture Review Made the Front Page of The Times
This morning, The Observer awakened to something many in the architecture community have been waiting months, if not years for. By the time you read this, the moment may have already passed online. But even if readers missed that frisson of joy in finding Michael Kimmelman’s first proper architecture review on the The New York Times‘ homepage, as much, or even more excitement can be had with an actual hard copy of the paper, where the review managed to sneak its way onto the front page.

Brooklyn Adds Vodka to Its Indie Liquor Cabinet
We know you’ve been stockpiling Brooklyn whiskey and Williamsburg cigarettes and maybe even collecting those Spike Lee inspired Absolut Brooklyn bottles. Fortunately you can officially add vodka to the laundry list of Brooklyn vices, according to The Brooklyn Paper.

Spence Buys Mystery East 90th Street Lot for $26.1 M.
It seems that the Spence School isn’t content reigning as queen of the single-sex private school scene on just one block of East 90th Street. The elite girl’s institution, named one of the top ten prep-schools in America last year, has added substantial property to their Upper East Side empire.

How ‘Bout Them Brooklyn Nets?
Brooklyn may be home to a swelling creative class, but all that brain power—or at least that of Jay-Z, Bruce Ratner and Mikhail Prokhorov—could do no better than “the Brooklyn Nets” when it comes to naming the team, which moves to the borough next season. The Observer was really pulling for the Brooklyn Queens Expressways or the BroBos, but our dreams were rejected like a Chris Humphries lay-up.

Wall Street Journal

Bids for Tower Test Market
Some of the biggest names in real estate submitted bids last week for a 45-story Midtown office tower in a sales process that's being looked at as an important barometer of New York skyscraper values during the economy's current rough patch.

Mastering Mixed-Income Housing
Among the toughest challenges facing urban architects are projects that mix market-rate condominiums and subsidized rental housing.

More Developers Bet on Casinos
New York City's first casino—Resorts World Casino New York—is going to face a lot of competition when it opens at the end of October at Aqueduct Racetrack.

Deal Gives Firm Breathing Room
The owners of a huge apartment complex in TriBeCa who have been battling middle-income tenants for years have cut a deal that solves a major problem they were facing with lenders.

New Home Sales Drop
New-home sales fell for the fourth-straight month in August as the bursting of the housing bubble continues to plague the U.S. economy.

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