New York City Real Estate Services, Rentals, Sales, Investments, Management, Industry News
Thursday, December 16, 2010
NYC doormen, building service people don’t expect big holiday tips or get them either
That may sound like plenty of cheer, but fully staffed properties have 20 to 30 workers, all of whom count on the extra cash to brighten their holiday seasons.
"People tip the staff they see," said Teri Rogers, of BrickUnderground.com, which did the unscientific poll. "The people who mostly get burned are porters and handymen. They're not as visible to residents, but they do the hardest work."
Doormen on late-night shifts will likely wind up with fewer fat tip envelopes, too.
"You can pay your bills . . . get a little extra cash in your pocket," said Richard Figueroa, 28, of Brooklyn, who's expecting about $2,000 in tips from a 35-unit building in Chelsea. "I don't ask for too much, I don't expect too much."
Doorman Rick Cintron says he's thankful tips keep getting better at his building on Seventh Ave. in Manhattan, despite the economic downturn.
"It hasn't changed that much, even in the bad economy," said Cintron, 48, who lives in Bay Ridge, Brooklyn, adding that he doesn't care when people tip. "It doesn't matter as long as they come."
The holidays haven't been so cheery the past two years for Richard Boakye, who works at a building on W. 21st St.
"Sometimes you get presents. Sometimes you don't get anything," said Boakye, 66, of the Bronx. "It doesn't look good, but when it comes, I'll appreciate it."
Rogers did extensive interviews with doormen on the upper West Side, the upper East Side and Greenwich Village to generate a holiday tipping guide.
Most are happy with the tips they're expecting to get this season, except for those in buildings with high vacancy rates or lots of subletters, who are typically low tippers because they feel like transients.
The doormen know not to expect too much from elderly tenants on fixed incomes but may balk at doing extra work in their apartments for free, Rogers said.
Some cheapskates say they resent having to tip, while others are clueless new arrivals to New York City apartment living or are making a statement about poor service.
Photo caption: Joseph Boakye, who works as a doorman, doesn't expect big holiday tips, but appreciates it.
Wednesday, December 15, 2010
Beijing architect lives in egg-shaped house on sidewalk
The 6-foot-high structure, which is small enough to fit on a sidewalk, is made of bamboo strips, wood chippings, sack bags, and grass seed that’s expected to grow in the spring.
The pod features a solar panel on the roof that powers a lamp in the cozy space. The house cost around $1,000 to build (6427 yen), according to China Daily.
It seems Haifei has taken the trend of living in tiny spaces to a whole new level.
Thursday, December 2, 2010
Turn Key Business for Sale - Northern NJ 16,000 SQFT Storage Facility - Great ROI
Wayne Storage & UHaul located in Wayne, NJ (Passaic County)
16,000 square foot storage and warehouse facility, tenants in place, video security system, on site manager and office, three loading docks, climate controlled, high ceilings, great location...
Showing by appointment only - JAD Realty Group 610.781.8417
Monday, November 29, 2010
Tiny house movement thrives amid real estate bust
GRATON, Calif. – As Americans downsize in the aftermath of a colossal real estate bust, at least one tiny corner of the housing market appears to be thriving. To save money or simplify their lives, a small but growing number of Americans are buying or building homes that could fit inside many people's living rooms, according to entrepreneurs in the small house industry.
Some put these wheeled homes in their backyards to use as offices, studios or extra bedrooms. Others use them as mobile vacation homes they can park in the woods. But the most intrepid of the tiny house owners live in them full-time, paring down their possessions and often living off the grid.
"It's very un-American in the sense that living small means consuming less," said Jay Shafer, 46, co-founder of the Small House Society, sitting on the porch of his wooden cabin in California wine country. "Living in a small house like this really entails knowing what you need to be happy and getting rid of everything else."
Shafer, author of "The Small House Book," built the 89-square-foot house himself a decade ago and lived in it full-time until his son was born last year. Inside a space the size of an ice cream truck, he has a kitchen with gas stove and sink, bathroom with shower, two-seater porch, bedroom loft and a "great room" where he can work and entertain — as long as he doesn't invite more than a couple guests.
He and his family now live in relatively sprawling 500-square foot home next to the tiny one.
Shafer, co-owner of the Tumbleweed Tiny House Company, designs and builds miniature homes with a minimalist style that prizes quality over quantity and makes sure no cubic inch goes to waste. Most can be hooked up to public utilities. The houses, which pack a range of amenities in spaces smaller than some people's closets, are sold for $40,000 to $50,000 ready-made, but cost half as much if you build it yourself.
Tumbleweed's business has grown significantly since the housing crisis began, Shafer said. He now sells about 50 blueprints, which cost $400 to $1,000 each, a year, up from 10 five years ago. The eight workshops he teaches around the country each year attract 40 participants on average, he said.
"People's reasons for living small vary a lot, but there seems to be a common thread of sustainability," Shafer said. "A lot of people don't want to use many more resources or put out more emissions than they have to."
Click image to see more photos of tiny houses
AP Photo/Ben Margot
Compared to trailers, these little houses are built with higher-quality materials, better insulation and eye-catching design. But they still have wheels that make them portable — and allow owners to get around housing regulations for stationary homes.
Since the housing crisis and recession began, interest in tiny homes has grown dramatically among young people and retiring Baby Boomers, said Kent Griswold, who runs the Tiny House Blog, which attracts 5,000 to 7,000 visitors a day.
"In the last couple years, the idea's really taken off," Griswold said. "There's been a huge interest in people downsizing and there are a lot of young people who don't want to be tied down with a huge mortgage and want to build their own space."
Gregory Johnson, who co-founded the Small House Society with Shafer, said the online community now has about 1,800 subscribers, up from about 300 five years ago. Most of them live in their small houses full-time and swap tips on living simple and small.
Johnson, 46, who works as a computer consultant at the University of Iowa, said dozens of companies specializing small houses have popped up around the country over the past few years.
Before he got married, Johnson lived for six years in a small cabin he built himself and he wrote a book called "Put Your Life on a Diet: Lessons Learned from Living in 140 Square Feet."
"You start to peel away the things that are unnecessary," said Johnson, who now lives in a studio apartment with his wife. "It helps you define your priorities with regard to your material things."
Northern California's Sonoma County has become a mini-mecca for the tiny house industry, with an assortment of new businesses launching over the last few years.
Stephen Marshall, 63, worked as a building contractor for three decades before the real estate market tanked three years ago. That's when he jumped into the tiny house business, starting Petaluma-based Little House On The Trailer.
His company builds and sells small houses that can serve as stand-alone homes equipped with bathrooms and kitchens, and others he calls "A Room of One's Own" that can be used as a home office or extra bedroom. Many of his customers are looking for extra space to accommodate an aging parent or adult children who are returning home, he said.
He said his small houses, which sell for $20,000 to $50,000, are much cheaper than building a home addition and can be resold when the extra space is no longer needed. His company has sold 16 houses this year and aims to sell 20 next year.
"The business is growing as the public becomes aware of this possibility," Marshall said. "A lot of families are moving in with one another. A lot of young people can't afford to move out. There's just a lot of economic pressure to find an alternative way to provide for people's housing needs."
Friday, November 19, 2010
**Video Tour/New Listing** Upper East Side One Bedroom Rental - East 90S & 3rd Avenue
Upper East Side One Bedroom Apartment Rental - New Listing featuring a Video Tour!
Well maintained walk up building, original pre war detail and feel, separate eat in kitchen including appliances, tiled bathroom, large living room featuring a southern exposure view, bright apartment corner unit, large bedroom – can fit a queen size bed and extra furniture, southern and western exposure views, new hardwood floors, video intercom system, excellent Upper East Side location – 2 blocks away from the 6 line!
Shown by appointment only - JAD Realty Group 610.781.8417
Thursday, November 18, 2010
Famous Homes For Sale
Photo: Realtor.com
The Ben Rose Auto Museum Home
Address: 370 Beach Street, Highland Park, IL
Asking Price: $1,650,000
To children of the '80s and other John Hughes aficionados, 370 Beach Street will always be Cameron's house from "Ferris Bueller's Day Off". It was from this distinctive midcentury modern home's glass-walled garage that the rascally Ferris and the reluctant Cameron liberated Mr. Freye's 1961 Ferrari, and the ravine this home is perched over is where the classic car later met its demise.
"The Ferrari that went through the window was of course a mock-up of the real car," says the property's realtor, Meladee Hughes (no relation to John). "They could not have an explosion in the ravine so smoke bombs were put in the shattered car for effect. The window was Hollywood glass and the original window was replaced after the shoot."
Followers of modern architecture know the home for a different reason. Acclaimed architect James Speyer, who was Mies Van Der Rohe's first graduate student and protege, designed this 4- bedroom, 4-bath in 1953.
The former owners since the house was built were the famous textile designer Ben Rose and his wife. "Later in their lives [they] were European race car drivers and traveled the world collecting objects of art," notes Meladee. The Beach Street address is also known as Ben Rose Auto Museum. In addition, "His work and the architectural works of James Speyer are at the Art Institute in Chicago."
Meladee is currently negotiating with a buyer who is intrigued by the movie background but even more so by the architectural significance, and who is also interested in the art contents of the home and the European sports car collections.
Lost House, Photo: Google Maps
Photo: Google Maps
The House That 4, 8, 15, 16, 23 and 32 Built
Address: 4637 Farmer's Road, Honolulu HI
Selling Price: $3,550,000
This 5-bedroom, 6-bath mansion was featured in Season 3 of "LOST" as Hugo "Hurley" Reyes' nouveau riche digs in the episode "Tricia Tanaka is Dead."
Although it was set in Los Angeles, the actual location of the home is in the Kahala neighborhood of Honolulu, Hawaii, where Lost was shot. The house of another main character, Kate, was in the same Honolulu neighborhood, as was the "LOST" headquarters.
So what's this place like? Dude. Hurley's new home was a long way from Mr. Cluck's Chicken Shack, at almost 7500 square feet with a gourmet kitchen, numerous balconies, a sound system, a pool, a whirlpool, and a dolphin fountain.
It sold in August for nearly $400,000 less than the former asking price of 3.9 million. The selling price worked out to about 3% of Hurley's $114 million lottery winnings.
Elrod House, Photo: Realtor.com
Photo: Realtor.com
The Elrod House
Address: 2175 Southridge Drive, Los Angeles, CA
Asking Price: $13,890,000
Although you may have seen this dazzling and distinctive midcentury modern dwelling before, you may not remember it so much as the beautiful women it housed. The 5-bedroom, 6-bath Palm Springs home has been the setting for the James Bond film "Diamonds are Forever", as well as numerous Playboy shoots.
Architect John Lautner, who worked with Frank Lloyd Wright as a young man, and created the once-maligned Googie style of the 1950s and '60s, built the distinctive Elrod House in 1968.
In addition to the singular look, the design pedigree, and the pop-cultural cachet, the Elrod House is set on between 5-10 acres in a gated community, and it has a rooftop deck with panoramic views, a pool, and a four-car carport.
How much does all that cost? To break it down, the monthly payment on this would be about $55,840. Let's hope the buyer has enough diamonds.
Amestoy Estates House, Photo: Realtor.com
Photo: Realtor.com
Amestoy Estates House
Address: 5266 Amestoy Avenue, Encino, CA
Asking Price: $5,493,600
This 7-bedroom, 10-bath single-level Tuscan style villa is only two years old, but it's already famous for playing the role of Vincent Chase's house during Season 7 of the HBO series "Entourage".
And rightly so: The 9,000 square-foot Amestoy Estates residence offers features that seem tailor-made for movie stars (and those who aspire to the Hollywood lifestyle, hopefully sans the coke binges featured this season on Entourage).
It features a media room for screening dailies (or Netflix), 20-foot ceilings, three covered patios, an Italian-tiled pool with waterfall, several fountains, a four-car garage, and an attached casita with fireplace for that special entourage member (or in-law) requiring private quarters.
Rodriguez House, Photo: Realtor.com
Photo: Realtor.com
Rodriguez House
Address: 1845 Niodrara Drive, Glendale, CA
Selling Price: $1,995,000
The esteemed Modernist architect R.M. Schindler, who developed "Space Architecture", built this pre-WWII home for writer/composer Jose Rodriguez in 1941.
But the kids today might recognize Schindler's creation due to a different type of space architecture: the Seth Rogen/James Franco stoner comedy "Pineapple Express". In it, the Rodriguez House was used for the home of the drug lord Ted Jones.
The structure is made from wood, stucco, and stone, with exposed beams, large clerestory windows, two modernist fireplaces, a balcony, two screened-in patios, as well as built-in furniture separating the living room from the dining room, and in most other rooms.
It's surprising that it listed last year at $2,475,000 but sold for much less and is now valued at $918,046, one million-plus below its sale price last December. This unique standout property is on the Glendale registry of historic places and is considered one of the best-preserved examples of Schindler's work.
Malibu Beach House, Photo: Realtor.com
Photo: Realtor.com
Malibu Beach House
Address: 24826 Malibu Road, Malibu, CA
Rent: $55,000
Remember in the first "Sex and the City" movie when one of the sexers was no longer living in the city? This premium Malibu beach house is where Samantha Jones and Smith Jerrod made their home.
This furnished beachfront rental has 5 bedrooms and 6 baths and features four decks, an enormous glass wall facing the ocean for breathtaking ocean views, stone flooring, a bar, a pool table, closed circuit TV, as well as fireplaces in the library, living room, and master bedroom. The film location website Iamnotastalker.com notes that it appears the same furniture provided in the rental was used in the movie.
The same website reports that when the movie filmed in 2008 the house was on the market for $17 million, which later dropped to $14.5 million. It's now renting for $55,000, down from $75,000 in 2009. No word on whether the swarthy showering hunk Dante from next door is included in the package.
Ennis House, Photo: Realtor.com
Photo: Realtor.com
Ennis House
Address: 2607 Glendower Avenue, Los Feliz, L.A., CA
Asking Price: $7,495,000
This dramatic Mayan-inspired residence embodies architectural and celluloid history. Frank Lloyd Wright designed the hilltop home known as Ennis House in 1924, and it features Wright hallmarks like prairie-style leaded mitered glass. Another distinguishing factor is its glass mosaic fireplace-one of only four of its kind, and the best-preserved example.
Built in 1924, this 4-bedroom, 4.5-bathroom, 6000 square-foot temple-like home is situated atop a hill in a gated community in Los Feliz. It features cavernous ceilings with exposed beams, marble floors, a guest house, a pool framed by a window-lined loggia, and unhindered views of the ocean, canyon, and city lights.
Classic film buffs will recognize it as the home where Vincent Price's character offered $10,000 to anyone who could last the night there in the 1959 thriller, the original "House on Haunted Hill". It also served as the home to Angel the vampire in seasons 2 and 3 of "Buffy the Vampire Slayer", and made appearances in "Blade Runner", the TV series "Twin Peaks", and too many others to list. Visit the home's website for more of its history.
Malibu Colony House, Photo: Realtor.com
Photo: Realtor.com
Malibu Colony House
Address: 23360 Malibu Colony Road
Selling Price: $14,950, 000
This early-'90s era 4-bedroom, 4-bath mansion in the exclusive gated community Malibu Colony once belonged to Lawrence and Linda Elins, victims of Bernie Madoff's Ponzi scheme, who lost the home to foreclosure. To add insult to injury, Wells Fargo bank senior VP Cheronda Guyton, who worked with foreclosed properties, was then caught hosting lavish parties there in September of 2009. Guyton's jig was up when neighbors noticed her taking long weekends at the home and decided to investigate.
At one point the home was listed for $18 million, but it sold in August for $3 million less. What's included with a price tag like that? An airy floor plan opening out to the Pacific Ocean, chef's kitchen with high-end appliances, master bath with steam shower and spa tub, walk-in closet, neighbors like Tom Hanks, and hopefully no more partying squatters.
Valley Oak Two, Photo: Realtor.com
Photo: Realtor.com
Valley Oak Two
Address: 5731 Valley Oak Drive, Los Angeles, CA
Selling Price: $2,325,000
This 4-bedroom, 4-bath midcentury home in L.A.'s Los Feliz neighborhood is known from seasons 2, 3 and the recently concluded Season 4 of Bravo's real estate reality show "Flippin' Out". It's actually the second house on Valley Oak Drive that was lived in and revamped by host Jeff Lewis and his entourage of humans and pets on the house-flipping program.
The previous owner of the house refused to leave the property, even after demolition had begun. Fortunately this makes for good reality TV, but not wanting to leave is understandable. With open terraces offering city, mountain, and ocean views, and a pool with whirlpool, this home is an inspiration for California dreaming.
Lewis bought the house in 2007 for just over $1,700,000 million. After he and his crew worked their magic, his original asking price in 2008 was $3,195,000, which went down to $2,595,000. It sold in October for $2,325,000.
Beverly Hills, 90254, Photo: Realtor.com
Photo: Realtor.com
Beverly Hills, 90254
Address: 3500 The Strand, Hermosa Beach, CA
Asking Price: $10.5 million
This charming 3-story Cape Cod built in 1915 boasts 6 bedrooms, 5 bathrooms, hardwood floors, a wrap-around patio, and decks on the top two floors.
But what really makes this home special is its past role as the college apartment for some of the characters on "Beverly Hills, 90210" during seasons 3 and 4. This site was the stage for many a dramatic plot twist from our shared cultural heritage: the time Kelly Taylor's stalker went all Single White Female on her, and that other time that Donna Martin was assaulted by a different stalker before David Silver saved her... Ah, memories.
Bonus pop culture points: This beauty of a property also makes a cameo in the background of a beach scene in the 1989 Jeff Goldblum/ Geena Davis movie Earth Girls Are Easy.
Oh-there's also the slight matter of the house being directly on Hermosa Beach overlooking the Pacific Ocean. That could also account for the $10.5 million price tag.
Tuesday, November 16, 2010
Amid housing slump, home sizes shrink
In part, the downsizing trend is a product of necessity. During the years of the housing boom, many home expansions were financed through home re-financing deals. Now that home loans have frozen up, people are less likely to be able to afford building that new game-room they'd been wanting.
[Video: Man's tiny, 89-square-foot house]
But a broader shift of cultural preferences could also be spurring the shift, experts say. Backyards are also getting smaller, with more homeowners opting for spreads that feature front porches and communal green spaces. Some say that's a sign that Americans are hungering for more of a sense of community in their living environments.
So how are homes changing as they get smaller? Builders are increasingly doing away with formal living rooms, sitting rooms and extra bathrooms, which many people have found they don't use.
[Related: Sprawling (and modest) homes of Internet wizards]
"The whole glow of bigness kind of wore off all of a sudden," Sarah Susanka, an architect, told CNBC.com. It's time, she added, "to bring some sanity back to the equation."
"This is yet another piece of data that the pendulum is swinging back toward smaller housing in walkable urban locations," Christopher Leinberger, an urban planning expert at the Brookings Institution, told The Lookout. In Leinberger's view, the small-is-beautiful shift comes from established baby boomer homeowners as well as from so-called millennials who are just coming into their first mortgages. "One's downsizing and one's getting their foot in the door," he said. "And both are looking for walkable urban places at higher rates" than is the case among other age demographics.
[Photos: One of world's most expensive homes]
Dan Burden of Walkable Communities, which supports a smaller-scale, less auto-centric approach to urban planning, agreed. "More and more of the millennial generation are recognizing that they don't want to grow up in the 'burbs," Burden told The Lookout. "They want more livable, walkable communities."
Wednesday, November 3, 2010
New Listing Featuring a VIDEO TOUR - EAST 90S & 3rd Avenue - Below Market Value
Well maintained walk up building, fourth floor unit, newly installed video intercom system, separate eat in kitchen including appliances, tiled bathroom, large living room featuring a southern exposure view, 12' X 12' bedroom - can fit a queen size bed and extra furniture, original prewar detail, new hardwood floors, live in super, three blocks away from the 6 line!
Shown by appointment only - beginning November 3rd!
Tuesday, October 26, 2010
It's a Mod, Mod World
Art and Surf
"Art and Surf" - Montauk, NY
For Sale: $12,500,000
Journey out to the end of Long Island, NY to find this modern, oceanfront gem. Enjoy glass-walled open living on the main floor and head upstairs to the private master that is set perpendicular to the main floor. Ceiling-to-floor windows on the main floor can be thrown open to let the sea air in, or to slip into the lap pool and spa. Walk down the stairs to your own private beach.
The Glass Pavilion
"The Glass Pavilion" - Santa Barbara, CA
For Sale: $35,000,000
In what architect Steve Hermann calls his "greatest achievement," the "Glass Pavilion" is set within an oak grove on 3.5 acres in Santa Barbara, CA. Glass wraps around the exterior of this 14,000 sq ft home and inside are big, wide-open spaces with contemporary furnishings and design. A wine room can hold several thousand bottles and the expansive art gallery presently contains a vintage car collection that can hold up to 32 cars within its walnut-lined walls.
The Razor
"The Razor" - La Jolla, CA
For Sale: $25,000,000
As is typical of architect Wallace E. Cunningham, this masterpiece embraces its surroundings along the Southern California coast. It sits high above Torrey Pines State Reserve in La Jolla, CA, and takes in the surrounding views of the ocean, open sky, and rugged landscape. Five years in the making, this home is constructed from white-polished concrete and floor-to-ceiling glass.
Trophy on the Intracoastal
"Trophy on the Intracoastal" - Palm Beach, FL
For Sale: $29,500,000
Award-winning architect Milton Klein created this custom-contemporary on Palm Beach's Lake Worth in 1986 and it underwent a restoration in 2007. It consists of almost 20,000 square feet and has 200 feet of lake frontage. This grand-scale construction is made possible with extensive use of poured concrete, steel and only about 5% wood.
Neo-Modern Showcase
"Neo-Modern Showcase" - Greenwich, CT
For Sale: $13,000,000
A towering, two-story glass atrium is the signature showpiece in this 1992 tri-level neo-modern home on more than 7 acres. Designed by Ulrich Franzen, who worked with I.M. Pei for several years before starting his own firm, Franzen used expansive windows and skylights to integrate with the landscape and lake. The home is made of polished, beveled concrete aggregate blocks and granite and marble. And, of course, windows. Perks: Elevator, indoor pool, media, exercise and billiard rooms, outdoor pool, lighted tennis court, two-bedroom guest cottage and garage for 6-7 cars.
La Gorce Modern
"La Gorce Modern" - Miami Beach, FL
For Sale: $19,500,000
Wealth and beauty abound on Miami Beach's La Gorce Island, which is accessible only by a bridge and passage through a guard house, which makes it desirable for celebs such as Cher and Billy Joel to own homes there. This contemporary home on La Gorce offers 20,000 square feet with 12 bedrooms, 14 bathrooms, and a 5-car garage. Plus, the 270 feet of protected waterfront will come in handy for yacht parking. The pièce de résistance is a unique, sweeping white marble staircase that leads to the master bedroom.
The Glass Pavilion
"Modern Pueblo" - Aspen, CO
For Sale: $11,950,000
Designed in the style of renowned Mexican architects Luis Barragan and Ricardo Legorreta, this home is built into the McLain Flats hillside, which is about 10 miles outside of Aspen. The home's sleek lines combine with the sun's rays to create shadows that offer its own unique effect as a living sculpture of color and texture. The 9,000-sq ft home was built in 1994 and has 5 bedrooms and 5 bathrooms.
Beverly Hills Modern
"Beverly Hills Modern" - Beverly Hills, CA
For Sale: $11,895,000 (or, $50,000/month rent)
At the center of this home is a garden courtyard and the living space radiates around it, wrapped in circular walls of glass and soaring steel beams. Rooms feature custom-curved stainless steel windows and doors. Views of the infinity edge pool and city are beyond. A generous 24,000 sq ft of space includes 6 bedrooms and 6.5 baths, plus 7-car garage, gated security, and elevator. Designed by architect Ed Niles.
The Glass Pavilion
"Shelter Island Simplicity" - Shelter Island, NY
For Sale: $8,950,000
Noted for its extensive use of glass walls, the house takes full advantage of its stunning location, providing views of Peconic Bay, the North Fork and Long Island Sound, all the way to Connecticut. The house is sited on an elevated estate-sized property consisting of two parcels (3.33 acres and 2.66 acres). Also available is an 100-foot boat dock with hydraulic lift.
Poetry on the Potomac
"Poetry on the Potomac" - Bethesda, MD
For Sale: $7,100,000
Contemporary doesn't always mean steel and glass, does it? As a big departure from the double-chimneyed, traditional homes in the Washington, DC area, this warm contemporary won the AIA custom home award in 2008. Designed to enjoy the surrounding treed property, it overlooks the Potomac River. Perks: Lap pool, guest house and home office.
Thursday, October 21, 2010
Flat Iron/Chelsea West 27th Street & 6th Avenue Two Bedroom - VIDEO TOUR - 1000SQFT November 1st
Available for November 1st Occupancy
Contact JAD Realty Group for showing times @ 610.781.8417
Wednesday, October 20, 2010
Eleven Reasons People Can't Sell Their Homes
The environment for home sales becomes more difficult with each passing month. Some estimates put 11 million mortgages, about 20% of the U.S. total, underwater, meaning that homeowners owe their banks more than the underlying properties are worth. Home repossessions reached more than 100,000 for the first time in September. Rising foreclosure rates continue to further depress housing prices.
The federal government let its tax benefit for homeowners expire in April and has not renewed it since them. The program did boost sales earlier this year. Shoppers must now face a market without the credit in which many home prices continue to fall.
The clamor over flawed foreclosure paperwork and robo-signers could further chill the housing market. People who might buy have bought a home in foreclosure will now worry about obtaining proper documentation and effective transfer of title.
24/7 Wall St. spoke with experts at real estate research firms Zillow.com and RealtyTrac to find the best way to sell a home. We also interviewed management from the National Association of Realtors, a number of real estate brokers, bank managers and elected officials in affluent communities. What emerged from these conversations and our research is the following: successful home sellers often do the same small number of things correctly. Often, these tactics are the difference between finding a buyer and not.
1. Pick the Best Broker
Many people who decide to sell contact a real estate brokerage with a sterling reputation or go to one that has the largest number of listings. Frequently, when potential sellers call these firms, they are turned over to the first available broker in the office. That person is often not the best representative. As a matter of fact, what is a successful broker doing in the office anyway? There are a small number of brokers in most markets who have a better track record than their peers. Most of them have been brokers for a long time and did not lose their jobs when the housing bubble collapsed.
2. Get an Appraisal
Sellers should obtain an appraisal for their home before they put it on the market. One of the major reasons house sales fall apart is that the bank assesses the home for less than the buyer has agreed to pay. For example, a buyer and seller agree on a price of say $250,000. Then the buyer goes to his bank to get a mortgage. But, the bank appraises the house for $200,000. Now, the buyer has to put up more money. Sellers who get their own appraisals get a realistic idea of what price a bank would value a house at before they enter into a sale. Most appraisers already do some work for banks. An appraisal often tells a seller what a "safe" price is. And an appraisal's average cost is only about $200.
3. Get the Right "Comp"
Sellers must make sure that foreclosures in their area are included in the "comps" the Realtor gives them. Traditionally, a broker will give a seller a list of similar properties in the market and that information is part of what is used to set a price. What brokers do not always do is put the price of any foreclosed properties that are comparable into the calculation. A typical foreclosed home sells for 25% to 30% less than similar inventory in the same area. If sellers don't take that into consideration, their home will not be priced competitively and they put themselves at a disadvantage. Sellers wind up slashing prices after their overvalued properties are on the market for several months without success.
4. Tax Assessment
Low property taxes are critical to finding buyers. Property taxes in most cities, towns and counties have gone up for years as home values appreciated. This revenue is used to run schools and other local services. However, now home values have dropped sharply, and the appraisals by local authorities on which taxes are based are too high. Many cities have a process for homeowners to request lower appraisals, and as a consequence obtain a reduced property tax. Some states even have a board of appeals for homeowners who do not think they were treated fairly. One way for people to get local authorities to cut the tax assessment of their home is to put it on the market at below the appraised price. If the home does not sell for several months, they can present empirical evidence of the lower value. A home assessed for $300,000 that goes on the market for $275,000, but does not sell for a year, is probably not worth $300,000.
5. Conserve Utilities
Turn the lights off! Most buyers ask for utility bills. "Energy wasters" who sell a home will rue the times they forgot to turn off lights, turn down the air conditioner or left the TV on all day. It would be ill-advised to fake the amount of energy being used by simply living in the dark and cutting utility costs to nearly zero. However, careful and prudent use of energy can cut bills by enough so that a buyer does not have sticker shock about what it costs to maintain electricity, gas or oil to run a house.
6. Sell "Green"
Not very many homes are actually built with environmentally friendly material or heated by solar panels or wind. But those that are have a special appeal to the crowd that buys green cars such as the Prius. A seller may have one of only a few "green" homes in their town or city. That may make it highly desirable to many shoppers.
7. Curb Appeal
This item appears on most lists, and many sellers don't bother to take the advice to prune the hedges or clean the gutters. But it is even more complex than that. Walk to the road on which your home is located. Now walk toward the house. What does a buyer see for the first time? Most sellers never bother to look at their homes through a buyer's eyes. Do the shingles need a paint job? Are the shutters looking shoddy? "Love at first sight" is no less rare with homes than with people.
8. Everything Is Negotiable
Negotiate the fee with the broker. The fee paid to a Realtor for selling a home is traditionally 6%. Sellers often believe that they can get that down to 5% or even 4%. But, in a market where brokers are desperate for business, pressing for 3% or even 2% may work. Whatever the savings are, they can materially affect how much a seller can drop the price of his home and still walk away with a profit.
9. Get an Inspection
Sellers should do some of the inspection work and testing before their home goes on the market. Inspectors for buyers are often aggressive when they report what is "wrong" with a home to their clients. For as little as $250, an inspector will go through your house and tell you what the inspector is likely to flag such as a roof leak or old, energy-wasting windows. That gives the seller a chance to fix the problem for less than the buyer may want to lower the price by, or at least know the items that a buyer will use to negotiate down the price.
10. Hire a "Stager"
For as little at $200, you can hire someone who can make your home look better by moving pictures, furniture, lights and addressing problems that may make the home show poorly. These people are cousins to the men and women who "fix" expensive homes before magazines come in to photograph them for stories. "Stagers" have lists of tricks that few Realtors and almost no homeowners know. The "better" your home looks, the more appealing it will be to potential buyers.
11. Fix It First
Sell a house that does not need any work. In a market in which people count every penny and worry about job security, fewer buyers want homes that are "fixer uppers" that require work that could cost thousands or even tens of thousands of dollars to address. These days, a buyer choosing between two homes will most likely take the one that needs the least work. It may cost some money to get your home to the point where a buyer can walk in and do almost no work. However, it may be the difference between selling a home and having it languish on the market.
Thursday, October 7, 2010
East Village Two Bedroom Share - VIDEO TOUR - Available for November 1st
East 12th Street & Avenue A Two Bedroom Share. The apartment features an open layout with southern exposure views. The kitchen and bathroom are going to be completely gut renovated! Enjoy…
Manhattan Rental Market Heating Up...
Manhattan rental units in the third quarter moved faster and were less negotiable than last year at the same time, while studios and one-bedrooms outperformed larger apartments, according to quarterly market reports released today.
The listing discount -- the difference between the asking rent and the rent the tenant pays -- shrank to 1.7 percent in the third quarter, the lowest level since 2006, according to a market report from Prudential Douglas Elliman. Meanwhile, the average number of days a listing sat on the market was 38, down from 77 in the third quarter of 2009, the report says.
That means landlords were less willing to lower their rents, while apartments were rented faster, explained real estate appraiser Jonathan Miller, the president of Miller Samuel and the preparer of the Elliman report.
"You saw the lowest listing discount in four years, and you saw properties moving a lot faster than last year," Miller said, attributing the changes to an improvement in consumer confidence. While both renters and landlords "are still not comfortable with the economic climate, they certainly feel better about it than a year and a half ago," he said.
Meanwhile, it became far less common for landlords to offer concessions, like a month's free rent or payment of a broker's fee. A quarterly report released by real estate brokerage Citi Habitats stated that only 23 percent of the company's rental transactions in the third quarter included a concession, compared to 52 percent in the same period of last year.
"There was very little use of concessions," Miller said. "They're still there, but they weren't as predominant as they were last year."
Gary Malin, the president of Citi Habitats, noted that concessions may start to creep back into the market as it enters the traditionally slow winter season, along with increases in vacancy.
"These months that we're heading into, we historically see the vacancy rate creep up a little," he said. "Pricing becomes more flexible."
According to Citi Habitats' report, the vacancy rate in the third quarter was 0.99 percent, down from 1.71 percent during the same period in 2009.
The reports also show a surge in new rental activity from last year. Elliman's report, which includes all firm's deals, tracked 8,593 new rentals in the third quarter, up from only 2,549 in the same period of last year. Citi Habitats said it did over 4,250 transactions in the third quarter, about 15 percent more than in the prior-year quarter.
But since hiring is still stagnant, experts said this likely wasn't the result of an overall increase in rental activity. Rather, a bevy of tenants decided to leave their current apartments rather than renew their leases, many in search of cheaper rents now that their landlords stopped giving rent breaks and other concessions that became common during the recession.
"People in existing rentals that did not get concessions said, 'I'm going to find something new,'" said Stephen Kotler, director of residential leasing for Prudential Douglas Elliman.
Rents, meanwhile, were generally stable, inching up in some categories and falling slightly in others. Elliman's report found that the average rent for a Manhattan apartment in the third quarter was $3,460, down 8 percent from $3,759 in the same quarter of 2009. The median rental price, however, was $3,000, up 1.7 percent from the prior-year quarter. The average rent per square was $47.22, down 1.3 percent from last year.
Both reports show rent increases for studios and one-bedrooms. According to Citi Habitats, the average rent for a studio jumped 3.9 percent to $1,828 from $1,760 in the prior year quarter, while one-bedrooms increased 3.2 percent to $2,501. Elliman's report found that the median rent for a studio grew 9.8 percent to $2,195, while the average rent for a one-bedroom grew 1.9 percent to $2,950.
Larger apartments did not fare as well. Elliman's report found that the median rent for two-, three- and four-bedroom apartments fell from the same quarter of last year, while Citi Habitats found that rents for larger apartments increased, but not as much as studios and one-bedrooms.
Kotler noted that one reason for the strength in smaller apartments is an increase in relocations to New York City from abroad. He said Elliman, which works with large firms to relocate their employees, is seeing about 25 percent more transfers of international workers to New York City. That's common during a down market, he said, because large companies tend to reshuffle their employees rather than hire new people. "Companies will move people around instead of hiring new people," he said, noting that it's a way for firms to "redeploy the resources they have."
These workers from abroad often rent, rather than buy, since they are often on temporary assignments, he said. They are also more likely to be single people or young married couples rather than families with children, he said, so they are apt to rent studios or one-bedrooms.
Miller also noted that there has been a surge in purchases of larger apartments, causing corresponding weakness in the rental market. "If you have an increase in rental activity you might have a decrease in the same segment on the sales side, and vice versa," he said.
Friday, July 16, 2010
The Fall of Temporary Apartment Walls
AFTER graduating from Duke University this spring, Karan Sabharwal landed a job in finance in New York City. He had a plan to make Manhattan living affordable.
He would lease a nice one-bedroom apartment, convert it to a two-bedroom space with a temporary wall and split the rent with a friend.
But when he went to check out the Rivergate, a high-rise apartment building in Kips Bay, he was told by the property manager that partitions were no longer allowed.
“I told her I had friends in nearby buildings that had put up the walls,” he said. “She said, ‘We have adopted the policy, like many other buildings in the neighborhood, that you will not be able to put up the full wall anymore.’ ”
As the city aggressively enforces a long existent but widely ignored code, walls are falling across Manhattan, radically altering the housing landscape for scores of young professionals. Thousands of renters are being told that the walls that have been put up over the years without approval from the Department of Buildings must come down. And new renters are being informed that if they wish to divide a space, they will need to rely on bookshelves or partial walls that don’t reach the ceiling.
“The impact has already been dramatic,” said Gordon Golub, the senior managing director for rentals at Citi Habitats. “Landlords are all trying to come to some sort of conclusion as to what they are going to do in allowing any walls or a different sort of wall that might go up, and it is affecting brokers and customers.”
Manhattan apartments are as varied as the roommates who decide to share a place. Because of this, there are no rules that apply universally. But in all cases, temporary walls must not block exit routes or interfere with the ventilation and sprinkler systems. And there are minimum requirements for room size.
The current focus on temporary walls is driven by two developments: prosecutors’ decision to level manslaughter charges at the owners of a building where a fatal fire occurred in 2005 and, more recently, the city’s drive to eliminate illegally installed temporary walls in Stuyvesant Town, the sprawling complex between 14th and 23rd Streets on the East Side.
After tenants’ complaints and subsequent inspections by both the Fire Department and the Department of Buildings, Tishman Speyer, the owner of Stuyvesant Town, embarked this spring on a review of all its apartments and moved swiftly to eliminate all walls that were not up to city code.
“It was determined that partition walls previously installed in some apartments were not in compliance with the New York City Building Code,” the company said in a statement. It declined to go into the extent of the complaints or who had lodged them.
Tishman Speyer is paying for the removal of the walls. It is also footing the bill for the installation of approved replacement walls for those tenants who had the landlord’s permission to build temporary walls.
City officials note that it has long been illegal to install a floor-to-ceiling wall without a permit from the Department of Buildings, even though landlords as well as tenants have often disregarded this requirement. But the strict enforcement at Stuyvesant Town has prompted many landlords to get into compliance.
The Manhattan Skyline Management Corporation, which manages thousands of luxury apartments across Manhattan, including the Rivergate, has been examining its entire portfolio to establish where walls were erected. The company has already informed hundreds of residents that even if they installed walls with the building’s approval, or moved into an apartment that already had such walls, they will have to rip them out if they are not up to code.
In a statement, the company said that because the Department of Buildings had “greatly restricted” the use of walls to subdivide rooms, “previously installed walls which were believed to be legally installed have to be removed.”
The company is offering tenants who erected walls with its approval $700 to help defray the cost of erecting new dividers, like bookshelves.
But for many residents, a bookshelf or a partial wall is no substitute.
“It’s not only inconvenient, but heartbreaking, since we love our apartment just the way it is,” said Daniela Zakarya, 25, and a broker at the Real Estate Group of New York.
Ms. Zakarya, who moved with her college roommate into a Gramercy-area apartment a year ago, said the wall had been in place at the time. She was informed in April by her landlord — whom she did not want to identify since she is still negotiating a solution — that the wall had to come down.
A week later it was removed, and now the living room has become the second bedroom while the roommates decide what to do next.
“It is a cataclysmic change and is the future of Manhattan share situations,” she said.
Ms. Zakarya quickly realized she was not alone. Many of her clients are young professionals looking to share places in doorman buildings where the average rent for a one-bedroom ranges from $3,000 to $3,500. As she has shown apartments in recent weeks, she said some potential renters have been surprised to find that the cost-saving room-splitting arrangements their friends made just a year ago are no longer an option.
And the bookshelves, screens and partitions replacing walls inevitably result in a loss of privacy.
“Everyone who wishes to save money on rent and convert their apartments may need to get used to this,” Ms. Zakarya said.
Tony Sclafani, a spokesman for the Department of Buildings, said the city’s regulations had not changed. He emphasized that a work permit had always been required to add a wall.
“The addition of a partition, pressurized wall, or other floor-to-ceiling divider, even if intended as a temporary installation, results in a change to the layout of an apartment,” he said.
To get a work permit, one must hire an architect or engineer to prepare plans of the proposed layout and other construction details as well as to apply for plan approval, Mr. Sclafani said. After the plan is approved, the contractor must get a work permit. After the work is complete, the architect or engineer must inspect it and then sign off on the job at the Department of Buildings.
Certainly, thousands of renters have skirted these rules in the past without penalty. The Department of Buildings does not randomly inspect residences, and mostly acts in response to complaints.
But ever since a deadly fire in a Bronx apartment building in 2005 in which two firefighters died after leaping from a window, the city has had illegal room dividers in its sights. Prosecutors charged the building’s former and current landlords, as well as two tenants, with manslaughter. The city’s position was that illegal partitions erected by the tenants to subdivide the apartments had disoriented the firefighters and led to their deaths.
The tenants, who were said to have installed the partitions to create small, windowless rooms that they then rented out for $75 to $100 a week, were acquitted.
The owner and former owner were convicted of criminally negligent homicide by a separate jury. But that verdict was overturned in February by the State Supreme Court, which found the prosecution had failed to prove the defendants had known about the illegal partitions.
Since that fire, the Department of Buildings has cracked down on the most dangerous situations, issuing 1,200 vacate orders in 2009 for people living in illegally subdivided apartments, the majority in Queens. Manhattan shares drew little attention until recently, when landlords and real estate agents could not help hearing the rumble of walls falling in Stuyvesant Town.
Because apartment layouts vary widely, it is difficult to generalize about what types of walls meet with city approval, but officials at the Department of Buildings said the major considerations had to do with “egress routes” to ensure “maximum travel distances in the building code are not impeded, sprinkler coverage areas (where sprinklers are provided) are not obstructed, smoke detectors and carbon monoxide detectors are relocated or supplemented if necessary to comply with the building code.”
Any electricity work must also meet guidelines.
“Keep in mind that the elimination of a common living room to create a three-bedroom, zero living room apartment may result in a rooming-unit situation that is not permitted by the Housing Maintenance Code,” Mr. Sclafani said. “In addition, since each apartment is generally required to have at least one room of at least 150 square feet, the installation of a partition may run afoul of this requirement in certain cases.”
He said anyone with questions about whether an apartment is up to code can call 311 and request an inspection by the Department of Buildings.
In any case, despite the firm stance taken by some major property owners, thousands of renters are still using pressurized walls, which are relatively inexpensive, easily installed and easily removed.
Donny Zanger, the project manager at All Week Walls, which specializes in installing and removing pressurized walls, said his business was so far unaffected.
“We are growing like crazy,” he said.
“If these walls did not exist in New York,” Mr. Zanger said, “it would be a very difficult situation for students and young professionals and even professionals who make more money.”
He says he follows all the city codes and regulations when installing a wall. He also says he does not understand how erecting large bookshelves to divide a space is any safer than properly installing a pressurized wall.
In practice, it has not been the responsibility of the installation companies to obtain the necessary building permits; it has been the landlord’s or the owner’s. But many companies use their Web sites to advise potential customers to secure approval from building management.
The cost of a wall starts around $700, and Mr. Zanger said his company had put up 300 to 400 walls in the past year. There are dozens of similar companies — a testament to just how common the practice of dividing rooms in Manhattan has become over the years.
It remains to be seen whether many landlords will follow the lead of Stuyvesant Town and other major property owners in Manhattan, but during a June meeting of landlords and brokers hosted by the Real Estate Board of New York, it was the hot topic.
Meanwhile, many renters new to the city find themselves in a position similar to that of Mr. Sabharwal, the Duke graduate.
“I heard that if you have a month, that is plenty of time to find something,” he said. But in light of the crackdown on temporary walls, his options seem more limited and he might have to reassess his $1,600 budget.
“It is a whole different experience than my friends had,” he said.
Tuesday, July 13, 2010
East Village Three Bedroom Rental Apartment - Brand New - August 1st - Roof Deck - NYC
East Village/Union Square Three Bedroom Apartment Rental 8/1
Recently renovated throughout, separate kitchen including stainless steel appliances, marble bathroom, living room featuring access to a private roof deck, each bedroom can fit a queen size bed, new hardwood floors, excellent location, steps to Union Square, the Lower East Side, the West Village, SoHo, downtown, Gramercy, Astor Place, and NYU
Contact JAD Realty Group for further detail and to schedule an appointment:
610.781.8417
Thursday, June 10, 2010
Gramercy Park Rent Stabilized - Exposed Brick Wall - Below Market - July 1st
Union Square One Bedroom Apartment - Rent Stabilized - Exposed Brick - July 1st
Contact JAD Reatly Group for showing times:
610.781.8417
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Union Square One Bedroom Apartment - Rent Stabilized - Exposed Brick - July 1st
Contact JAD Reatly Group for showing times:
610.781.8417
Monday, May 10, 2010
Need a Renter? Try Giving Away Free iPads and Bicycles
In one online ad, a broker with Platinum Properties offered to throw in two custom suits worth $2,000 each with the keys to a penthouse apartment. The broker could not be reached to say if the penthouse had been rented.
Last month, Alchemy Properties gave away iPads and 42-inch high-definition televisions to anyone who signed a contract to buy units at the Griffin Court Condominium in Midtown. More than 150 people stopped by the property during the promotion's first two weeks, said the president of Alchemy, Kenneth Horn.
"It's definitely generating enthusiasm and helping people come into the building," Horn said.
In March, brokers with aptsandlofts.com gave out the iPod Touch to renters at 60 Monitor Street in Williamsburg. They also offered free Huffy cruiser bicycles to anyone renting an apartment at 150 Johnson Avenue, also in Williamsburg.
"The idea was simply to touch base with our market, to give them something different, something interesting but specific to them," said David Maundrell, the brokerage firm's president. "We didn't just want to give things away for the sake of it."
Innovative incentives can also cut costs for developers with bare-bones advertising budgets, thanks to the word-of-mouth response they generate.
"We paid about $4,000 for the bikes, a fraction of what we might have paid for a one-shot print ad in the major papers," Maundrell said. "We were able to catch people's attention without blowing our budget."
Renters and buyers aren't the only ones taking note -- brokers are also scoring giveaways, a practice that has become an industry norm.
Brokers who brought the buyers to the Griffin Court Condominiums were rewarded with gadgets; one broker went home with three flat-screen TVs, Horn said.
Looking to generate interest in Harlem's 5th on the Park condo, the Griffin Real Estate Group raffled five iPads to brokers during two parties last month. The developer was looking to attract brokers as part of the building's latest marketing push.
But the latest hot item can be tomorrow's cold throwaway, meaning the hunt is on for novel incentives to offer buyers in upcoming promotions.
"I wouldn't offer an iPad in six months," said Carole Griffin, Griffin Real Estate Group's director of sales. "But I'm sure there'll be something that's appealing, that'll give us a little extra 'oomph.'"
Wednesday, April 28, 2010
Gramercy Park One Bedroom Rental - 1 Block from Union Square - Rent Stabilized June 1st
East 17th Street & Irving Place One Bedroom Rental - Rent Stabilized Unit - Exposed Brick Wall - Access to a Shared Garden
Contact JAD Realty Group for showing times:
610.781.8417
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East 17th Street & Irving Place One Bedroom Rental - Rent Stabilized Unit - Exposed Brick Wall - Access to a Shared Garden
Contact JAD Realty Group for showing times:
610.781.8417
Monday, April 19, 2010
New Yorkers Brace for Doorman Strike
It has been nearly two decades since New Yorkers faced their last doorman strike, but as the deadline for a new contract for building workers approached, the questions being posed throughout the city remained largely unchanged on Sunday.
Who will safeguard my apartment as I sleep? Greet my children when they come home from school? Accept deliveries? Clean the hallways? Sort the mail? Operate the elevator? And who, for goodness sake, will let the cleaning lady in?
Residents, co-op boards and building management companies have been busy planning for the sudden complications that could come at 12:01 a.m. Wednesday with the possible departure of the building workers who, among many other things, hold open the city’s doors.
The Realty Advisory Board on Labor Relations has distributed a preparedness manual with recommendations for keeping buildings in operation in case of a strike. “A strike is not pleasant, nor should it be taken lightly,” according to the 45-page document. “During a period of work stoppage, pressures and problems develop which make building management very difficult.”
Throughout the city, security guards have already been alerted to arrive at buildings an hour before the negotiating deadline so they can take over for the first overnight shift in the event of a walkout. Many buildings would then adopt a more restrictive policy, with residents being required to use building keys, display identification to the security guards and pick up visitors or deliveries themselves. Some buildings are planning to take service elevators, storage rooms and garages out of operation if there is a strike.
“The whole operation of the building would basically be shut down and we’d rely on residents to pitch in just to get by,” said Dan Wurtzel, president of Cooper Square Realty, one of the largest residential management companies in the New York. “There’s a tremendous amount of preparation we have to undertake. Then, if it doesn’t happen, we can breathe a sign of relief. If it does happen, then we’re prepared to deal with it.”
Many buildings have also posted sign-up sheets for residents to volunteer to watch the front doors, clean hallways and take out garbage, though the forms in the lobbies of a handful of Upper East Side buildings remained mostly blank on Sunday afternoon.
Mary Ann Rothman, executive director of the Council of New York Cooperatives and Condominiums, has signed up for volunteer work in her own co-op.
“If there is a positive thing to be pulled out of this, it’s that it is an opportunity to get to know your neighbors,” she said, “and to come together to combat a little bit of adversity, because this is not the end of the world, though it may appear that way if the strike goes on.”
Arriving on Park Avenue on Sunday, Robert Neis, a marketing executive, immediately asked his doorman for assistance with the luggage from a family getaway to Shelter Island, N.Y. “It would be a bummer if they strike,” Mr. Neis said. “It’s a lot nicer when they help with the work.”
Harold Gerber, who runs a real estate business and has lived in his co-op on East 75th Street for more than two decades, said he was already worried about security, and grumbled at the prospect of hauling his own trash. “It will affect us tremendously,” he said.
Some doormen were skeptical that contract workers or volunteers would be able to take up their duties. Salvador Gonzalez, a doorman at a building on the Upper East Side, said that as the deadline approached, he has even added a new responsibility to his usual assortment of tasks: giving inquiring residents tips on how to do his job.
Though many residents on Sunday said they believed that a deal would be reached before the deadline, little progress was made during contract negotiations over the weekend, said Matt Nerzig, chief spokesman for Local 32BJ of the Service Employees International Union.
The 30,000 residential doormen, porters, superintendents, elevator operators and handymen now earn an average of $40,500 a year, with benefits raising the total to nearly $70,000, according to the Realty Advisory Board, which represents building owners. The workers are seeking wage increases, while building owners are pushing to reduce benefit costs.
“We’re working hard, we’re talking,” Ms. Rothman said. “There’s a lot of good will on both sides and very different feelings about the current economic situation.”
“I don’t think anyone wants a strike,” she added.
Tuesday, April 6, 2010
NEW PRICE - BELOW MARKET RENT...West 3rd Street One Bedroom...1/2 Block from Washington Square Park
West VIllage One Bedroom Rental - Walking distance to NYU and Washington Square Park - Below Market Value...RENTAL REDUCTION
Contact JAD Realty Group for showing times:
610.781.8417
Third floor unit in a well maintained walk up building
Separate kitchen including new appliances
Large bedroom - can fit a queen size bed and extra furniture
Walking distance to NYU, Washington Square Park, Soho, the West Village, the East Village, Astor Place, and Union Square
Available for April 15th occupancy
Asking price per month - $1550
West VIllage One Bedroom Rental - Walking distance to NYU and Washington Square Park - Below Market Value...RENTAL REDUCTION
Contact JAD Realty Group for showing times:
610.781.8417
Thursday, April 1, 2010
Murray Hill JR One Bedroom - 2 Blocks Away from the Train - Lexington Avenue
Murray Hill Junior One Bedroom - Brand New Renovations - Below Market Value - East 33rd Street
Contact JAD Realty Group for showing times:
610.781.8417
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Murray Hill Junior One Bedroom - Brand New Renovations - Below Market Value - East 33rd Street
Contact JAD Realty Group for showing times: