Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Luxury real estate firms in New York City make a lot of money helping wealthy foreigners exploit the state’s tax lawsnow some firms overseas want to share in the joy of being richly rewarded middlemen. The Times reports that real estate companies from Germany and London are expanding here to explicitly target New York’s “ever-expanding…
A mock-up of the view $100 million could buy you (Extell). We mentioned this in passing yesterday (because we immediately passed out from the numbers involved), but it’s worth diving into the nitty-gritty: a mystery buyer has shelled out over $100 million to buy a duplex in One57, one of the luxury skyscrapers on…
Midtown Manhattan will soon be teeming with luxury skyscrapers, thanks to all the development underway on 57th Street’s so-called Billionaires’ Row. But it appears that the rich people shopping for homes in these monsters might not know about all the other needle buildings that’ll be their neighbors, since developers have been conveniently erasing fellow skyscrapers…
The Hess Triangle outside of Village Cigars this week. (Photo by Sai Mokhtari/Gothamist) There is a small plot of land located outside of Village Cigars at Seventh Avenue and Christopher Street that’s got a big story behind it—it involves a headstrong landlord, the 7th Avenue subway extension, and the City of New York. The story…
So you want to live in New York City. The stereotypical “affluent young college graduate from Ohio coming to make his way in the big city”—that easily mocked demographic that can be ignored and dismissed out of hand as spoiled, or part of the problem—is only a small sliver of New York City residents. Most…
One of the benefits of private property is that whoever owns it can charge other people to use it. This is called rent. If people want to use this particular property very badly—that is to say, it is in “high demand”—the owner can charge a lot of rent. This is called capitalism. But some owners…
Tishman Speyer and H&R Real Estate Investment Trust’s development site on Jackson Avenue in Long Island City (Photo courtesy: Google Maps). first embed adBank of America Merrill Lynch and Wells Fargo are providing Tishman Speyer and its joint venture partners with a $640 million construction loan on the developers’ three-tower luxury residential project in Long…
This article originally appeared on AlterNet. In the past few years, San Francisco’s massive rents have displaced long-time residents and worsened the city’s already epic homelessness problem, sending more people into encampments or forcing them to live in cars or doubled up. Now, residents have the opportunity to experience that glamorous lifestyle by paying $600…
MANHATTAN — Mayor Bill de Blasio wants to change some of the city’s existing zoning regulations as part of his 10-year plan to create 80,000 new affordable units of housing and preserve another 120,000. The 526-page plan has implications for every neighborhood in New York City. Department of City Planning officials have visited community boards…
The fancy building at 120 South Fourth Street has been evacuated after building inspectors found un-permitted and dangerous structural work inside. (Pix11) The residents of a pricey Williamsburg apartment building with a history of unpermitted construction were forced out last week after the Department of Buildings found that the building “has questionable structural integrity.”…