This Week in Comments

New York /
Feb.February 06, 2009 12:20 PM

.The Real Deal prompts city investigation of make-shift hotel units
I love that the developer is still charging his “guests” the occupancy tax and sales tax on something that is technically illegal. What are the chances that those taxes ever get paid to the city? It’s a total scam from all angles. “Duh… I know I’m breaking all the laws, but I still gotta pay the mortgage and keep the lights on, so f–k it!” Gee, anybody want to buy at M127 and at 17 Orchard now that those properties have been used by “transients” and knowing that the developer has such low regard for the law and safety regulations?

Hamptons summer rental season not hot
One thing is certain year after year, this year included: Come July 4 there will be more traffic on Montauk Highway in Bridgehampton than on any street on the Upper East Side of Manhattan. It’s inevitable. They will come.

Corcoran closes Harlem office
These office closings are not atypical. Fringe areas are always the first to become extinct.

Second break-up for Ilan Bracha

I understand that by forming groups you are often able to do more business, but, the whole notion of only giving credit to one person for the deals is awful. Anyone who loves to do deals knows how good it feels to be recognized for being part of doing a deal, if not by doing the entire transaction, and people who remove names to put their own and get half of that person’s money on top of it for no connection of their own, that’s just yucky. Let someone have the sunshine for a day, or what it is rightfully earned

Citi looks at ending Mets deal
This should be a relatively simple question — does the $400 million spent on multi-year naming rights provide a sufficient increase with the public in terms of good-will, name recognition and confidence? If it does then it should continue, if it doesn’t then it should end.

Parent trap trips Corcoran
These private equity firms … are all effectively worthless entities due to their leverage ratios. Corcoran should be returned back to Barbara for $1. Wait till Fortress starts unloading all their highly leveraged garbage loans on the New York City market.

Brooke Astor unit price cut by $17M
It’s only $2 million per room. Sounds like a steal.


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