The Bad News Is That One Of Your Seven Figures May Get Picked Off; The Good News Is That The City Will Stop Harassing Those Vendors Down At The Ballfields
Location Scout: Red Hook.
Posted: November 12th, 2007 | Filed under: Brooklyn, Real EstateLocation Scout: Red Hook.
Posted: November 12th, 2007 | Filed under: Brooklyn, Real EstateThe landlord-tenant dispute that will only die when one of them does:
Posted: October 22nd, 2007 | Filed under: Real EstateFor nearly a quarter century, since Ronald Reagan was in the Oval Office, Lascelle Wright, 49, and his neighbors have been locked in a dispute with their landlord.
Even by the standards of New York City, where such disputes are blood sport, their face-off has become a long, strange war of attrition.
Mr. Wright is one of seven holdout tenants, most of them poor, elderly and in ill health. They want to remain in the Windermere, an echoing, ruined beauty of a building that was designated a city landmark in 2005. The alternative, they say, is the street.
Mr. Wright’s rent is $100 a month, but the landlord has provided no mailing address for his checks, so Mr. Wright has not paid even that.
A grand apartment house in the Romanesque Revival style, the Windermere is an eight-story building at West 57th Street and Ninth Avenue. It was famed in its late-19th-century heyday for its marble fireplaces, its uniformed “hall boys” and the latest in technological wonders, the hydraulic elevator and the telephone.
. . .
Nearly 7,000 miles away in Tokyo is [Masako] Yamagata. The head of the Toa Construction Company, he is 89 years old and hospitalized.
Last week, Mr. Yamagata did not respond to a list of questions. A woman who described herself as an employee supplied his age and the status of his health and said she would notify Mr. Yamagata of the inquiry. But she added, “I cannot tell you when he will or if he will answer at all.”
Last year, one of many housing activists who have tried to help the holdout tenants, Roseanne Haggerty, was finally granted a meeting with Mr. Yamagata in Tokyo after six years of entreaties.
She described him as white-haired and charming, if enigmatic. In a wood-paneled office that reminded Ms. Haggerty of an American recreation room from the 1970s, Mr. Yamagata had many American souvenirs, including a small Statue of Liberty and an ashtray with a New York logo.
In an informal gesture, he rolled up the sleeves of his white business shirt and showed Ms. Haggerty small scars on his arms from kidney dialysis. He could no longer visit New York because of his illness, he told her.
. . .
When Mr. Wright became a tenant in 1980, the Windermere was about half full, with about 80 families, he recalled.
By 1982, a previous landlord was offering incentives of up to $5,000 an apartment to vacate the building. Many left. By 1986, when Mr. Yamagata’s Toa Construction bought the building, Mr. Wright counted only a dozen or so families remaining, most protected from eviction under the city’s housing laws.
For the next two decades, the tenants and their advocates, in and out of housing court, attempted to resolve the standoff.
On Sept. 19, the city’s Department of Housing Preservation and Development, using reports from fire inspectors, cited Toa for 209 violations, including fire safety problems like exposed wiring, “the accumulation of refuse and/or rubbish” and “no electrical supply entire building.”
At the contempt hearing today, Mr. Yamagata could agree to the repairs.
If he does not, the city could perform the repairs and send him the bill.
Or some form of long-term alternative housing might be sought for the tenants until the building is habitable, according to Housing Conservation Coordinators.
Mr. Wright said he remained calm throughout the fight.
“I don’t curse, I don’t yell,” he said.
“The landlord is waiting for us to die,” he said. “But I’m 49, and he’s, what, almost 90?”
Definitely something all New Yorkers can take pride in — a bunch of upscale chainstores drove up rents and turned Fifth Avenue into one giant overvalued loss leader for retailers:
Posted: October 5th, 2007 | Filed under: Class War, New York, New York, It's A Wonderful Town!, Real Estate, There Goes The NeighborhoodRodeo Drive? Puh-leeze!
The country’s far-and-away leader in elite retail remains Manhattan’s Fifth Avenue, by a $7 million mile.
Real-estate firm Colliers International ranked the most expensive shopping streets in the United States by price paid per square foot, and Fifth Avenue took top honors, with an average rent of $1,350.
Rodeo Drive, by comparison, ranked third with a relatively bargain-basement price of $480 per square foot.
“Retailers, and in particular luxury retailers, continue to desire prime street-front locations,” said Ross Moore, senior vice president at Colliers.
And more than anywhere else in the country, “prime” means Fifth Avenue.
“Fifth Avenue is iconic. It’s synonymous with fashion and shopping,” said Tiffany Townsend, communications director at the city’s marketing organization, NYC & Company.
. . .
The influx of such global brands as Apple, Hugo Boss and others has dramatically driven up prices along Fifth, rising from an average of just $1,000 a year ago.
Gucci last year agreed to a record retail price of $1,500 per square foot for the right to bring back their flagship store to The Trump Building.
“Fifth Avenue is by far the greatest retail street not just in the nation but, in my opinion, the world,” said Stephen Siegel, chairman of Global Brokerage at CB Richard Ellis, who brokered the Gucci deal.
. . .
Fifth Avenue, however, just misses being the priciest stretch on Earth, with London’s Old Bond Street taking the top spot at $1,400.
Because once you’ve lost Heath, mass foreclosures can’t be far off . . . Heath Ledger as leading economic indicator:
Posted: October 1st, 2007 | Filed under: Brooklyn, Celebrity, Real EstateIt wasn’t supposed to matter to Brooklyn. Heath Ledger, the crown prince of the borough’s celebrity aristocracy, apparently fled his fiefdom in Boerum Hill for Manhattan after splitting up with his girlfriend, the actress Michelle Williams.
“To each his own,” said Jay Wilkinson, 29, an actor who lives in the neighborhood, speaking just blocks from the house on Dean Street where Mr. Ledger had lived since 2005 with Ms. Williams and their daughter, Matilda. He echoed a theme expressed by many on blogs and in the streets after the breakup. We barely notice the stars among us. If we lose one, no big deal.
In that, though, lies a tale of arriviste anxiety. What if Brooklyn’s recent cachet as the locus for what’s next is little more than a thin and fragile crust of chic, hiding the insecurity of people who constantly measure the social currency of their ZIP code by Manhattan standards?
The number of trendy boutiques, bistros and music clubs in Brooklyn may have spiked in the last five years, but its infrastructure of cool still represents only a fraction of that found in Manhattan. Its new identity is moored to a finite number of shops, restaurants, luxury condominiums and, yes, celebrities. If even one leaves, a void is created. Could the borough’s new status vanish as quickly as it ascended?
In recent years, Brooklyn’s pool of second-tier celebrity mascots (John Turturro, Rosie Perez, Norman Mailer, Steve Buscemi) has swollen and taken on a level of movie-star glamour, thanks to recent home buyers like Jennifer Connelly and her husband, Paul Bettany, Adrian Grenier and Maggie Gyllenhaal and Peter Sarsgaard.
These famous names, functioning as both symbols and selling points for the new Brooklyn, helped drive up property values, provided a focus for gossip in coffeehouses and dog runs, and instilled pride among the tide of newcomers who arrived — sort of by choice — from Manhattan and beyond.
. . . in a city of slumlords:
Posted: September 12th, 2007 | Filed under: Real EstateHome ownership in New York City is barely half the rate of the rest of the country, new figures show.
More than two-thirds, or 67.3 percent, of single-family homes, co-ops and condos nationwide were owner-occupied in 2006, the last year for which figures were available.
The figure here was just 34.4 percent, according to a Census Bureau report released yesterday.
About 1 million New Yorkers owned their own homes last year. The New York housing market consists of approximately 3 million residences.
“New York City has a low home-ownership rate compared to other large urban areas,” said NYU professor Ingrid Ellen.