Real estate in brief
Upper West Side multi-family building sells for $8M
An Upper West Side, 36-unit multi-family building has closed for $8 million, after two months of negotiations, according to a press release from GFI Realty, which represented both buyer and seller. The rent-stabilized building, located at 329 West 101st Street between West End Avenue and Riverside Drive, was purchased by an unidentified buyer for around $345 per square foot. The deal was reportedly made off-market, according to , who represented the seller (another broker at GFI worked on behalf of the buyer). “This property had not been sold in 22 years, however my client received an offer that he could not refuse,” Shulem Paneth, who represented the seller, said in a written statement. Another agent at GFI worked on bahalf of the buyer. “We completed the deal in just 60 days, completely off-market.”
Hamptons real estate trade organization names new president
Joshua Horton, a senior managing director with the Corcoran Group, has been named the 2010 president of the Hamptons and North Fork Real Estate Association, a non-profit trade organization, according to a press release sent today by HANFRA. Horton, who focuses largely on the Shelter Island, North Fork and Westhampton Beach markets, is a 12th generation East End native, according to his Corcoran profile, and was previously the town supervisor for Southold.
Former director of construction for Department of Sanitation fined
A former director or construction for the New York City Department of Sanitation was fined $6,000 for multiple violations of the city’s conflicts of interest law, according to a press release from the city’s Conflicts of Interest Board, an independent non-mayoral agency that acts as the ethics board for the city and enforces conflicts of interest law (see press release and complaint below). The former director, Jacob Holchendler, admitted asking a lower-ranking sanitation department employee to perform personal tasks for him, asking a subordinate to certify a notification form mandated by the Department of Buildings in order for him to remodel his home and obtaining two summer positions for his son with firms with business dealings with the agency. TRD