HABITAT
Apartment Owners and Buyers:
Buying a NYC co-op or condo apartment is one of the biggest investments you'll every make. This purchase is more than just buying a home, it's investing in a housing corporation. Articles, here, will help you understand what your investment really means, and how to make a safe one.
Plus, get check out:
The Co-op/Condo Owner's Manual
Stop-Work Order for Scandal-Plagued Rivington House
April 08, 2016
New wrinkle in the sale of AIDS hospice to luxury condo developers.
A Ringing Victory for Historic Preservation
April 04, 2016
The Clock Tower Building’s four clocks will keep on ticking.
"Affordable Luxury"
March 30, 2016
The seven-story condo building on the site of the long-gone Christ Lutheran Church on East 19th Street is being billed as “affordable luxury.” What, exactly, does this only-in-New-York real estate oxymoron mean? It means that the lowest-priced of the seven full-floor apartments can be had for just $3 million. All apartments will have an outdoor space, and the penthouse comes with a private terrace. A “townhouse-style” duplex on the ground floor, with private back yard, is asking a bit more than $4 million.
“Affordable for the neighborhood,” as Curbed put it, “but maybe not for the average New Yorker.”
Maybe not?
Designed by Brent M. Porter Architects and developed by Yosi Cohen, the building will be clad in beige Kolumba bricks imported from Denmark, a departure from the ornate brickwork found throughout the neighborhood. Renderings of the stark exterior drew mixed reactions from Curbed readers. “Neo-Brutalism?” asked one. “It’s a lovely Soviet bunker!” said another.
What do you expect for a paltry $3 million?
Tamir Shemesh, who's heading the building's sales team for The Corcoran Group, says he prefers the term "Accessible Luxury." "$3 million is still a big price tag," he says, "though unfortunately in New York real estate today, it's not."
New York Has Too Many Rich People
March 28, 2016
Super-rich developer Ian Schrager says the city needs diversity.
Deed Deal Reaps Millions – and Sparks an Outcry
March 24, 2016
Nursing facility sold on the sly to luxury condo developers.
Irish Castles vs. New York Castles
March 17, 2016
It’s your call: one median-priced Manhattan apartment, or 208,333 pints of Guinness Stout?
It’s not easy being rich in this town nowadays. Unit-owners at the luxury condominium tower Atelier on West 42nd Street have filed a $100 million lawsuit against the developer, the Moinian Group, claiming the company is preventing them from using the building’s pool and fitness center.
Company head Joseph Moinian called the claims “meritless,” The Real Deal reports.
However, the board of managers contends that after selling his sponsor units, Moinian retained ownership of the building’s common spaces. By way of adding insult to injury, Moinian not only blocked Atelier residents from using the building’s pool and gym, he made the facilities available to residents of his nearby rental building, Sky.
Built in 2007, Atelier – that’s French for studio – has 478 condo apartments. One, the 45th-floor penthouse, is currently on the market for $85 million. It comes with a $1 million yacht, two Rolls Royce Phantoms, and $2 million in credit to renovate the space – but no pool or gym access. Mid City Gym is just a few blocks away. They don’t have a pool, but they do offer tanning.
Board Talk
Engage, enrage, ask questions and give answers with your community of board members. Submit your questions and comments here!
Habitat Week by Week
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
Ask the Experts
learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
Subscribe
join nowGot elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!