Thursday, July 30, 2009

Thursday Morning Links

Link, links, links every day. Getting kinda boring. New content coming soon to stimulate the senses!
Coney Island Redevelopment Plan Passes (NY Times)
Bloomie, Thor Equities Come To Coney Compromise? (Observer)
Fed's Beige Book: "Signs Of Improvement" In Real Estate (Street Insider)
Still Big Money In Real Estate (Coverage, That Is) (LA Times)
LIC Funded To Go From Gritty To Green (NY Times)
Need A Six Bedroom For $4200? City Island Is Calling (BoogieDowner)
Manhattan Mixed Use Properties Halved In Price (The Real Deal)

Tuesday, July 28, 2009

Tuesday Morning Links

Bills Coming Due For Joe Moinian (Crain's)
LIC Residents Not Happy With Dog Ban At Park (NYDN)
Heddings: No Shortage Of Buyer's Remorse (WSJ)
15 CPW Still Seeing Flips For Gains (The Real Deal)
Developer Bows Out Of East Harlem Mega Project (Curbed)

Monday, July 27, 2009

Monday Morning Links

Renters Saving Condos (NY Times)
Typo In Offering Plan Could Cost Extell Million At Rushmore (NY Times)
Related Offers The Paperless Lease (NY Times)
National Luxury Real Estate Round Up (Luxist)
Queens: Prices Down Modestly, Volume Plummets (Queens Chronicle)
Small Retailers Find Opportunity In Soft Market (Crain's)
Water Taxi Gets 3 Month Lifeline (Crain's)

Friday, July 24, 2009

Friday Morning Links

Second Ave Subway Delay Could Impact Real Estate Prices Short-Term (The Real Deal)
Eleven Unit Package Sells At Sheffield (The Real Deal)
Artist Larry Prince Buys East 78th St Townhouse (Observer)
Founder Of Media Bistro Buys East 19th St. Loft (Observer)
The Lies People Tell On Craigslist (Observer)
56 Leonard To Rise, But In Bangkok (Curbed)
Manhattan Inventory Dips Below 10,000 (Urban Digs Via Curbed)
Hamptons Inventory Piles Up (Bloomberg)
Revealed: Soho's Mondrian Hotel (Curbed)
Activists Arrested After Occupying East Harlem Lot (NY Times)
Madoff A Monster From Birth (NY Post)

Thursday, July 23, 2009

Sorry about the missing links this morning! As I mentioned yesterday, it has become extremely busy. And yes, to those of you who were worried, I am fine! Wow, I didn't realize how consistent I have become on the morning links.

Wednesday, July 22, 2009

Wednesday Morning Links

There are some bright spots in today's news. First, the auction of scammer extraordinaire, Marc Dreier's apartment at One Beacon Court sold at $2700/per square foot or $8.2 Million. While nearly 25% below Drier's purchase at the market peak of 2007, still a pretty solid price, especially for an auction. Second, it seems that both spaces on Union Square South, vacated by bankrupt Circuit City and Virgin Records are now spoken for. Best Buy and Nordstrom's Rack will be taking the spaces. These are two large big box spaces and they were filled rather quickly. Finally, we have a report from TREGNY, that the peak rental season just isn't happening. I'm not sure about how they are doing, but my peak rental season is in overdrive. Granted, I am dealing with alot of families scrambling for school zones on the UES and UWS, but at this point there are not enough hours in the day. In my daily travels, I am hearing the same from brokers at Elliman, Halstead, AKAM, Corcoran and others. In fact, it has been a couple of months since I've heard anyone crying the blues about lack of rental business.
Dreier Home Sells At Auction For $8.2 Million (The Real Deal)
Discount Version Of Nordstrom, And Best Buy To Open On Union Square South (PR Newswire)
Rentals Not So Hot This Summer, According To One Broker (Curbed)
East River Science Park Gets Its First Tenant (CityRoom)
Gary Barnett, The Busiest Man In Real Estate (Observer)
Penn Club On The Way To Landmark Status (Observer)
Second Avenue Subway Pushed Back To 2016 (Curbed)

Tuesday, July 21, 2009

Tuesday Morning Links

Pol Warns: I May Kill Coney Deal (NYDN)
BPC's Millennium Tower Sees Its Lowest Sale Price Ever (DowntownNY via Curbed)
835 Sixth Goes Nondo Early (Curbed)
Dreier's Lux Life Revealed In $10 Mil. Condo Auction (Bloomberg)
Summers Urges Banks To Lend More (Bloomberg)
High Line Tower Revealed (Curbed)
Retail Vacancies Highest Since 90's (NY Times)
Paterson Wades Into WTC Mess (Observer)

Monday, July 20, 2009

Friday, July 17, 2009

Thursday, July 16, 2009

Moondance Diner...What A Long Strange Trip It's Been!

Moondance, 2007 (James Estrin, NY Times)

Moondance 2008 (Gothamist)

Moondance 2009 Day

Moondance 2009, by moonlight

It started back in the 30's as The Holland Tunnel Diner with 6 tables and 10 counter seats. It was eventually renamed The Moondance Diner and refurbished in the early 80's. It has been seen by millions on TV (Friends, Sex and the City), Films (like SpiderMan) and even an AhHa video. But in 2007 it was all but a goner. Rent had made the business no longer viable and plans had been hatched to build the 255' Grand Street Hotel on the site. Extell development donated the diner to the American Diner Museum who sold it to an enterprising couple in Wyoming. The husband drove it with his father by flatbed to LaBarge, Wyoming. But the winter of 2008 nearly proved devastating. While the foundation for it's new home was being built, the weight of snow collapsed the roof and damaged the walls. For many of us following the story, that was the last that we heard. Well, there is a happy ending! Many of the significant artifacts were safe in storage, and on January 12th of this year, the Moondance Diner opened anew! I reached Lynn, a friend of the owner at the diner this morning, and she says business has been "quite busy". In fact, Lynn says that Moondance has now "become a tourist destination spot."

On Site Of Moondance Diner, Grand Street Hotel Rises

On Sixth Avenue and Grand Street, site of the famed former "Moondance Diner" rises the 255' Grand Street Hotel. The intriguing structure is getting glassed up and looks like about six months from completion. But, the hotel already has it's first guest, oh yes, the jumbo rat!
Special thanks for the pics from tipster (and sister), Liz Fine.
All the Grand Street Hotel coverage you can ever ask for from Wired NY Forums

Thursday Morning Links

One In Top Ten Most Expensive Listings Of 08' Sold, And At A Discount (Observer)
Triplex At 895 Park Has Fourth Contract On It In 2 Years (Observer)
Buyers At The Setai Gain Right Of Rescission (The Real Deal)
Has NYC's Commercial Market Hit Bottom? (Crain's)
Brooklyn Home Prices Down 16% vs. Last Year (Bloomberg)
Miller: It Was A Credit Boom, Not A Housing Boom (Newsday)
The Sheffield Clears Foreclosure Hurdle (The Real Deal)
Soho And Noho Join Forces For Subway Super Station (Curbed)

Wednesday, July 15, 2009

Wednesday Morning Links

"Extend And Pretend": Commercial Lenders In State Of Denial (Retail Traffic Mag)
Banana Republic: Midtown Fruit Stand In Turf War (NY Times)
The Russians Are Coming....To Buy Real Estate (Bloomberg)
MTA Buys First Of Five Buildings To Vent East Side Access (The Real Deal)
Office Deals In Manhattan Getting Better By The Week (NY Times)
7-11 Expanding In NYC And Tri-State (NY Times)
Living Wall To Grace New Tram Station? (Curbed)

Tuesday, July 14, 2009

Hamptons Sales Down 58%, Q2

The Hamptons are no stranger to the housing downturn. Bankers, brokers, and just about everyone else strangled tight the purse strings, sat on their wallets, and drove sales volume down 58% compared to the same quarter last year. This, according to Judy Desiderio, broker and Hamptons market report generator extraordinaire as reported by Bloomberg this morning.

Tuesday Morning Links

Shiller says Second Housing Bubble Is Possible (The Real Deal)
Bruce Willis Scopes Out The Apthorp (The Real Deal)
A Cautious Thumbs Up For TALF (Globe St.)
National CMBS Delinquencies Spike, NY State Largely Unscathed (Observer)
Unreal Estate: A $32.5 Mil One Bedroom (Observer)
Development Du Jour: The Copper Building (Curbed)

There Goes The Media Again: Manufactued "Outrage" At Goldman

The top story on ABC's Good Morning America today was about how Goldman Sachs had recovered from the banking crisis and was expected to report $2 Billion in profit for the 2nd Quarter. Hooray! Right? No?

Oh, I'm sorry, the gist of the story was to throw around terms like "outrage", "anger", and imply that we should all be collectively upset, or beyond upset, like break out the pitch forks sort of rage! The only rage I felt was against ABC for manufacturing such bullshit. Goldman Sachs, after all, is a great American company that has is critical to the functioning of our financial and capital markets. Here is a company with a remarkable track record, having recorded only one Quarterly loss (last fall) since going public. Yes, they took $10 Billion from the government (which they have since repaid), but nobody considers the context. Nobody seems to remember that they took this money because the Treasury more or less forced it on them when other banks were at risk of failure. The idea was that all the major banks would take money so that no bank would be singled out and such action would prevent a run on the most troubled institution (s). Goldman was a team player in the interest of the national and world economy. Now, thankfully, the immediate crisis has passed, and one of our great institutions is earning money yet again. This, and the resilience of capitalism should be celebrated, not berated. We should be happy that we are seeing signs of recovery, not "outraged". Chris Cuomo may ask "where is our cut"? Our cut is that we are not in another Great Depression. Take that to the bank.

Monday, July 13, 2009

Monday Morning Links

National Luxury Real Estate Wrap (Luxist)
Tenants Take Out The Trash For A Rent Discount (NY Times)
Sarah Jessica Parker, Broderick, Stick With Manhattan (NY Times)
Developer Sues Buyer For A Change (Barbanel, NY Times)
30 Minute Interview With William C. Rudin (NY Times, 7/10)

Friday, July 10, 2009

Friday Morning Links

Not too much breaking news that hasn't already been touched on by the blog this week.
One point of interest though is the rally in the bond market which has, in turn, brought mortgage rates back to 5.2%.
Sheftell Takes It To The Heights (NYDN)
Swim In The Hudson River? (Broadsheet via Curbed)
Miller, King Of Market Reports, Tackles Rentals (TRD)
Shvo And The Great 20 Pine Sell-Off (Curbed)

Thursday, July 9, 2009

Thursday Morning Links

Spotted In Union Square.

Tuesday, July 7, 2009

Rudin's St. Vincent's Tower Gets LPC Approval

In a 9-1 vote, the Landmarks Preservation Committee approved the residential component of the St. Vincent's redevelopment plan. The committee lauded Rudin for its consideration of the community and the flexibility it showed in downsizing the project.
Residential Project To Land On St. Vincent's Site (Crains)

Tuesday Morning Links

The Milan On 23rd Goes Nondo (The Real Deal)
Drier's One Beacon Court Condo To Be Auctioned (The Real Deal)
Rents At 11 Times Square Down 30% (Crain's)
LIC: Getty Station Transforming Into Adaptive Reuse Bakery Might Actually be Happening (Curbed)
A Look At 57 Irving (Curbed)
Real Estate Seeing Uptick (Forbes)

Monday, July 6, 2009

I hope everyone had a great weekend! I am making my way back to the city. The weekend wrap up links will be posted tonight.

Thursday, July 2, 2009

Thursday Morning Links

June Unemployment Rate Upticks To 9.5% (Marketwatch)
2nd Quarter Downer: Manhattan Sales Prices Down 20%, Volume Down 50% (Crain's)
Extell's 60 Story Healthcare Tower Plan Revived (WSJ)
B of A Tower Secures $1.3 Billion From B of A (CoStar)
Wild "Flower Tower" May Rise In LIC (Curbed)
LIC Has A Snazzy New Park With Hammocks! (Curbed)

Wednesday, July 1, 2009

UES: Dream Classic 8 Penthouse, $12,500.

This is one big, fat, wow! Now here is a home that I could get truly comfortable with! This sprawling penthouse in the East 60's off Third features 4 bedrooms, enormous living room with wood burning fireplace, expansive dining area with floor to ceiling windows and a private terrace that wraps around all 3 exposures of this apartment. The apartment will see some upgrades, but there is no denying that it has some great bones! All yours for $12,500/mo.. If you want to see it, just give Andrew a call at 646-237-4175.