The 234 Apartment

NEW YORK – Aug. 22, 2017 – With all the talk about aging baby boomers and life- extending health care advances , it might be a bit bewildering deciding which seniors housing assets are best primed for success. Lee Everett, managing consultant at research firm CoStar Portfolio Strategy , might be able to provide some clarity. Two product types – active adult communities and continuing care retirement communities (CCRCs – will be the winners in the seniors housing race both in the short and the long term, Everett says. Everett and his CoStar colleagues are bullish about active adult communities , which are age-restricted developments that offer an independent lifestyle and relatively maintenance-free housing. Growth in this segment is "just around the corner," with more baby boomers getting older and seeking alternatives to traditional homes and apartments. "We're looking at a period where there's going to be a lot of fast and explosive growth in active a...

By Mike Smollins Village of Lynbrook officials are mulling a proposal by development company Mill Creek Residential to build a luxury apartment complex on Rocklyn Avenue, near Merrick Road. Hot Skates, Fun Station USA and Hi Tech Security now occupy the three-acre site. “Today’s apartment residents are craving a downtown living experience along with convenient access to a mix of urban and suburban lifestyle experiences ,” Russell Tepper, a senior managing director at MCR, wrote in an email to the Herald. “Lynbrook’s new residential community would serve all types of residents … so that they may take advantage of the luxuries of suburban living , without sacrificing the trappings of an urban, modern lifestyle.” MCR acquires and operates high- end rental communities across the country, and has built complexes in West Hempstead, Mineola, Yonkers, Westchester County and New Jersey. Tepper said that the company would create a transit- oriented residential community — a walkable nei...

House-hunters are increasingly “wedging” Melbourne’s inner suburban real estate market by targeting a small number of quality homes while ignoring comparable properties , real estate agents say. The weekend auction market saw above- market prices paid for some well-located homes but comparable, if slightly inferior properties tended to underperform. The trend to highly divisive auction results for similar properties was demonstrated by two auctions in Fitzroy held an hour apart on Saturday. 80 Gore Street, Fitzroy, passed in at auction on the weekend. At one sale, four buyers fought hard for an unusually wide terrace house at 124 Victoria Street. Quoted by Nelson Alexander at $1.85 million to $2 million, the three- bedroom corner property , which has a renovated rear stables as a separate retreat, instantly attracted a $1.85 million offer from a buyers’ advocate representing a local family. The price rocketed to an on-the-market $2,040,000 and kept going until the house was s...

ARTICLE OPTIONS Throughout his early 60s, Brad Buchner and his wife, Elizabeth, lived in the kind of house that many near-retirees dream of: a peaceful, manageable ranch- style property tucked in a quiet Poconos town surrounded by trees, lakes, and plentiful open space . Costing anywhere from $30,000 to $150,000, tiny homes designed by Escape Homes enable anyone to travel around the country in a single-family home. As it turns out, however, that’s exactly what Buchner and his wife don’t want as they think about the next years of their lives. Three years ago, the Buchners packed their things and headed to Philadelphia, settling down in a Center City rental . As if ditching their longtime rural digs weren ’t enough, the pair also abandoned spaciousness, swapping their three-bedroom, two-bathroom home for precisely 345 total square feet . The transition has meant parting ways with a fully finished basement and a home office, and adjusting to an ovenless kitchenette and two miniature...

More housing options needed for seniors While I was reading a recent Editorial (The Reporter, Sunday, Aug. 6) on possible housing options at the Green Tree golf course site, I thought about some conversations I’ve had with senior friends and neighbors about choices available to us when we are ready to downsize (both in actual size and cost). We have all travelled to other states where beautiful mobile home parks are both accepted and popular and built in desirable areas. Many of these states are threatened by violent weather regularly (not like here) but they still recognize that these parks are the best choice for many people and do not have to be an eye sore. My husband and I almost moved to Dunnigan because there was a nicely designed mobile park there with new, beautiful units . But in the end we just didn’t want to live “in the middle of nowhere” away from our family. Davis has one nice park but they have a long waiting list (proving the need). When I hear debates about new ...

Fewer of these, please. iStock/Thinkstock It's possible to get rich if your business only caters to rich people. But it's hard to have a massive and really successful industry in the United States today if you only cater to rich people. There are only so many people in the country with good credit and lots of cash sitting around. And this week, we got evidence that one of America’s largest industries may be running into trouble because its products appeal only to the upper crust. I’m not talking about jewelry or apparel. I’m talking about housing. On Tuesday, luxury homebuilder Toll Brothers reported a blow-out quarter, noting that contracts and sales were up 20 percent from the year before, and said it might sell more than 2,500 homes in the upcoming quarter. Advertisement On Wednesday, the Census Bureau announced that new home sales in July were down 9.4 percent from June, and down 8.9 percent from July 2016. On Thursday, the National Association of Realtors reported t...

(Bloomberg)—Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won’t want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They’ll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for o...