This Week in Comments

City cemeteries are running out of space
People are dying to get into a place in New York City.

15 Penn Plaza threatens Empire State Building
The [Empire State Building] is already blocked in view by the Silverstein [Properties] rental towers from [New] Jersey. They aren’t complaining about residential or hotels blocking [the building’s] “iconic view,” but protesting potential competition.

UES townhouse sells for half its 2007 value
Sounds about right. The market is down 50 percent. Deal with reality sellers!

Apthorp lender diverts rents from landlord
A week ago Mayor Bloomberg et al. were quick to celebrate the Apthorp as a true New York City success story. Wow, what happened?

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Fannie, Freddie going co-op?
This might be a solution if the lenders had their books in order. It doesn’t solve the problem of having too many foreclosed houses or houses that ought to be foreclosed upon. Those properties need to be sold to real estate investors (not speculators) who know how to turn bulk REOs into owner-occupied homes.

Pfizer building deal closes for $190M

[It’s] going to take years to fill that building up.

Fairway to unveil new UES location
Can’t wait. This and Shake Shack… just jumped the prices in the surrounding area 10 to 15 percent.