Real estate in brief

NYC landmark diner finds new home down south

The historic Cheyenne Diner, a more than 60-year New York City institution, frequented by celebrities such as Jerry Lewis and David Letterman, has a new home. After closing its doors at 411 Ninth Avenue on the corner of 33rd Street last year, the diner is en route to Alabama, where it will be reopened next door to another lost New York comrade, Jay Dee’s Bakery of Queens. Michael Perlman, chairman of the Committee to Save the Cheyenne Diner, said that he’s confident the landmark restaurant will be well-preserved. “I take pride in knowing that the beloved Cheyenne Diner will not only retire down south for its golden years, but undergo a rebirth thanks to its dedicated owners who think outside of the box,” Perlman said in a press release.

New FHA legislation passed

The House passed legislation today to extend the Federal Housing Administration’s ability to guarantee loans, particularly in large, urban areas. Rep. Anthony Weiner of Brooklyn and Queens served as a co-sponsor on the legislation, which will raise the price limit on FHA-eligible loans to $377,000 per unit, up from $184,000 per unit, and will raise the loan limits on high-rise elevator buildings up to 50 percent, from 10 percent. Weiner’s office estimated that the legislation will free up credit for the construction of 11,000 apartment units nationwide, including 2,088 in New York City. TRD