The 234 Apartment

T wo weeks ago, a Manhattan Supreme Court judge handed down a decision designed to strike fear in the hearts of landlords. Justice James d’Auguste ordered that an independent receiver be appointed to manage two Midtown residential buildings where the landlords allegedly allowed illegal Airbnb rentals to occur. The case, which began when the city sued the landlords in February 2015, has become one of the battlegrounds in a larger war between city enforcement agencies and short- term rental sites like Airbnb. Airbnb, which was recently valued at $31 billion, refuses to release the exact addresses of hosts who break the law by renting their entire apartment for less than 30 days without being present. Without the addresses and names of Airbnb violators , the city mostly targets the owners of buildings that rack up the most illegal hotel complaints from 311 calls and the New York City Department of Buildings. “This entire model—and it was intentional [by the city]—is complaint-drive...

WITH the median price of an apartment in Manhattan topping $1,000 a square foot, homeownership is often far out of reach. But there are options for those who cannot afford the market rate, including co-op apartments for buyers who earn a certain percentage of the area median income , or A.M.I. These buildings are scattered all over the city. Some date to the 1950s; others are brand-new and still looking for buyers. Some are limited to those who earn less than the median income -- 60 or 80 percent, for example (the median for a family of four in New York City is $83,000). Others have apartments for those earning a bit more than that sum. Many new developments try to bring in owners from different economic backgrounds, and are likely to include market-rate units as well. At one recent development, Atlantic Terrace, near the new Nets arena in Brooklyn, similar one-bedroom apartments were priced at $85,000, $113,000 and $232,000, depending on the buyer's income. A market-rate one-be...

“It’s kind of in my bloodline,” said Jack Barr. Contests, events & more from Tyee and select partners His great-grandfather, grandfather, and father were all Freemasons. Barr followed in their footsteps, and is the president of the Vancouver Masonic Centre Association today . As political scientist Robert Putnam noted in his famous work Bowling Alone , community groups like the Freemasons have been declining for the last few decades. Religious groups like the Roman Catholic Knights of Columbus, military groups like Legions, service clubs like Rotary and Kiwanis, even youth scouting groups and bowling leagues have seen participation plummet. Some longtime churches have also seen congregations shrink dramatically . Barr says freemasonry’s most recent heyday was the late-1960s and early-1970s. But the organizations are still around, and many own property. A number of groups are facing the question of what to do with their land and buildings as needs change, along with their abili...

Maintenance problems abounded. Mr. Hunt used a pan to collect the rainwater dripping through the ceiling, graduated to a bucket and, when that proved insufficient, a trash can. Last winter, some of his favorite shirts were soaked by rainwater. “It was imperative for my sanity to move,” he said. Photo LONG ISLAND CIT Y Along the waterfront on Center Boulevard, the many rental buildings were new, but not new enough. Credit Sasha Maslov for The New York Times He envisioned his new place as airy and clean, but also warm and inviting. “Telling a real estate agent your vision is not as clear as making a list,” he said. So he made one, including light, views and a rent of around $2,000 a month for a studio or one-bedroom. Using five apps — StreetEasy, Trulia, PadMapper, Naked Apartments and Zumper — he went to work. “I felt frantic about it,” he said. He contacted every agent who seemed to have a suitable listing. “The idea was zero fidelity.” He planned to remain in Greenpoint. But the fe...

Copyright © 2013 Albuquerque Journal Construction is expected to begin in early October on the $ 23 million Broadstone Cottonwood , a 254- unit luxury apartment project on the hill between the Intel Corp. plant in Rio Rancho and Albuquerque’s Cottonwood area. A joint venture of Albuquerque’s Titan Development and Phoenix- based Alliance Residential , Broadstone Cottonwood will be built on 13.3 now-vacant acres on the west side of N.M. 528. It will consist of 24 mostly two- and three-story buildings with a total of 325,433 square feet of space, which includes rental garages . Designed in what could be called a California Mission style of architecture, the Cottonwood project will be a variation of another Titan-Alliance collaboration, the 280- unit Broadstone Santa Monica apartments at 6401 Santa Monica NE , east across Interstate 25 from the Journal Center . Advertisement Continue reading The Cottonwood and Santa Monica projects combined create work for about 700 workers in constr...

Of all the apartment construction we witnessed in the past few years, 10 U.S. neighborhoods stand out for the greatest numbers of apartments built in the post- recession rental boom era . Using Yardi Matrix and Property Shark construction data , RENTCafé tallied up apartment completions that took place between 2010 and 2016 to see which neighborhoods saw the highest volumes of new rentals. Here they are: At the top of the list , Long Island City in Queens, New York City, has built a stunning 12,533 new apartments in 41 apartment buildings since 2010 , by far more than any other neighborhood in the U.S. Like many other New York neighborhoods, LIC slowly gentrified from a former heavily- industrial neighborhood filled with warehouse-type buildings to a highly- desirable residential area gleaming with new residential high -rises and conversions. Just a 15- minute train ride to Midtown Manhattan and much more affordable in terms of housing costs, Long Island City ’s apartment marke...

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

City Council has approved zoning changes clearing the way for as many as four three- storey apartment buildings and up to 51 multiple attached dwellings on a long, narrow lot at 3876 Queen Street East . The apartment buildings on the northern part of the lot near White Pines Collegiate and Vocational School would contain 60 dwelling units . The multiple attached dwellings would be on the southern portion of the property near Queen Street and Pinewood Public School . The new subdivision will have 51 metres frontage along Queen and extends back 514 metres . The northern part of the property has been flagged as having significant archeological potential and developer Paul Guindon (1890713 Ontario Inc.) will be required to conduct additional archeological assessment work before any soil disturbance or development is allowed. "The applicant is seeking some flexibility in determining the overall dwelling unit mix within this...