This Week in Comments

New York /
Mar.March 06, 2009 12:30 PM

Eateries, retail spaces close but others open
When Starbucks cancels, you know it’s bad.

Related looks for tenants for Virgin space

It’s a great area with lots of traffic, but the rent is too high and while that building is one of the most profitable rental buildings in the city, it’s going to be hard to have the same expectations for the retail portion. The other option is to piece up the space.

Wear your home hunt on your sleeve
Can I advertise on his shirt? I have a lot of units right now.

Deals to be had at One Northside Piers
Toll Brothers — [are] you kidding? Do they really think anybody in their right mind would be willing to pay $700 per square foot in this market, in Williamsburg or LIC? It’s a losing bet. Past buyers have lost tons of money on your projects, and anybody who purchases at these prices will likely lose money, too. Wait six months and those apartments will be half that price, or rentals.

Elliman’s real estate office of the future
“‘The agents are wireless, they’re paperless,’ he said, calling Andare the ‘office of the future.'” I would love to see a “paperless” board package.

Q & A with Buildings Department Commissioner Robert LiMandri
Giving out more stop-work orders doesn’t mean that the DOB is doing its job. The inspectors are not properly trained and just give out as many stop-work orders as they can. This is not good for anyone as it slows construction and increases costs significantly.

Federal housing plan to help one in nine homeowners
Not likely to help Manhattan real estate as most mortgages that are in trouble are likely in excess of $729,000.


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