Daily Archives: November 19, 2013

13 Things to Never Do to a Rental, Courtesy of Arch Digest | Bedford Corners Homes

Architectural Digest has long been a shiny toy filled with beautiful things, from eclectic Hamptons “farm” houses and slick fashion-y penthouses to Spanish villas overhauled by presidential decorators and Italian castles overhauled by, well, Martyn Lawrence Bullard. All exemplary interior design jobs, all rich people’s renovations projects. For the rest of us, though, the magazine features can very well be read like a primer in how to get sued by one’s landlord—unless, of course, one’s landlord is cool with “tearing down that bitch of a bearing wall” or “completely reconstructing every wall.” Below, a lesson in what not to do with a rental home, courtesy of Arch Digest:

item2.rendition.slideshowWideHorizontal.juul-hansen-06-manhattan-living-room-after.jpgPhoto by Thomas Loof/Architectural Digest

13. ↑ “In the face of runaway extravagance, she addresses her designer’s concern over a blocked view with an imperious directive: ‘Tear down that bitch of a bearing wall and put a window where it ought to be!’ [Link]

12. Despite the potential nightmare of redistributing the column’s load, his response was categorical: Take it down.” [Link]

11. “Sheltered beneath a vibrantly gabled slate roof, the home has the same footprint as the original, but the amount of living space was dramatically expanded after the interior was reconfigured.” [Link]

10. “Ceilings were raised to ten and a half feet, as Candice requested, revealing awkwardly placed structural beams that Reger cleverly blended into handsomely configured coffers. Doors were heightened and aligned with windows, so natural light could flow deep into the rooms.” [Link]

9. “She jettisoned the living room’s 18th-century-style marble mantel in favor of a custom-made limestone replacement with an Art Moderne profile.” [Link]

8. “Len handled all of the architecture, completely reconstructing every wall and customizing every surface. Most dramatically, he dismantled the exterior walls and inserted a series of nine pairs of steel-framed glass doors that reveal the sweeping skyline and bring a metropolitan immediacy into the apartment.” [Link]

7. “By relocating the openings between rooms, circulation was enhanced.” [Link]

cn_image.size.francis-sultana-01-drawing-room-h670.jpgPhoto by Luke White/Architectural Digest

6. ↑ “The designers brightened this once-gloomy space by ripping out dark paneling, painting the walls white, and installing a splendid light fixture that runs the length of the room.” [Link]

5. “Upstairs, Sultana and Croft had the task of converting two palatial salons into snug bedrooms. Their solution was to construct enclosed chambers inside each space—rooms within rooms. In the master suite, they broke up the wide expanse by building a capsule containing a bathroom in the area behind the bed.” [Link]

cn_image.size.steven-harris-02-living-room-h670.jpgPhoto by Scott Frances/Architectural Digest

4. ↑ “One segment of the glass wall is an immense 18 feet long by 9.5 feet tall. ‘It arrived from Canada on the last possible day we could close the street and hoist it into place with a crane,’ Harris recalls. And of course, he adds, ‘it ended up being the windiest day of the year.'” [Link]

3. “The only solution was a radical one—demolish the interiors and rebuild them from scratch, adding a level for extra space.” [Link]

2. “Fulfilling an important client directive, she combined three poky cooking and pantry areas into a single expansive kitchen. It now features two islands, green-painted cabinets (some with copper-mesh fronts), and a fluted hood. To accentuate the Spanish character, she incorporated dark-stained Douglas-fir ceiling beams, a strategy also employed in the main hallway.” [Link]

1. “Working within the existing footprint, the designer reconfigured the master suite to provide separate his-and-her studies—the latter embellished with a trellis mural by Valle.” [Link]

· All Architectural Digest coverage [Curbed National] · All Renters Week 2013 posts [Curbed National]

Dive Into New York’s Historic Rental Ads, From The 1830s On | Chappaqua Real Estate

As the world has transformed over time, so, too, has the courtship between the owners of empty rooms and potential tenants. The Roman burden of donning your toga and trekking to the agora to find your next rental in one centralized marketplace has given way to virtual tours. (Which you can also do in a toga, should you so desire, although no one needs to know.) But because of various changes to the way letted spaces move, the past century has seen a full circuit in the evolution of rental ads.

18641014%20BDE.png [Want to check out this tony Clinton Hill residence on your own time? You know where to find it! (Brooklyn Daily Eagle, October 14, 1865)]

In the 1800s, such ads were usually posted by the owner. Unencumbered by character-limits, spots for rentals were filled with prose and description. The landlord wanted to fill his vacancy. Nothing else mattered. If your space came equipped with rosewood furniture and a piano—to some, the 19th-century equivalent to Carrara marble and a private gym—all the better to pitch. The newspaper, of course, was a common resort (or the only resort) for those who couldn’t fill their spaces by word of mouth or through their own networks.

18370624%20Wburg%20Gazette.jpg [Really pitching to the perfect “respectable genteel family.” The ad (click for big!) sells the lots’ proximity to the Peck Slip Ferry, which connected the Williamsburg waterfront with downtown Manhattan, or the base of today’s Brooklyn Bridge. (Williamsburg Gazette, June 24, 1837)]

Then, in the early 20th century, brokers began to flood the market. Although the oldest of today’s largest firms, Brown Harris Stevens, traces its roots to 1874, what is now the National Association of Realtors was founded in 1908. But perhaps most importantly, a ten-year moratorium on taxes for new housing (warning: PDF!) led to a building boom starting in 1920. Those units needed people to live inside them… and fast.

Crafted by hired hands, ads began to take on a sense of urgency—and offered much less description. Mentions of specific addresses gave way to pitches for streets or neighborhoods; vowels became the victims of cost-cutting measures when every word cost cash.

19750825%20Post.jpg [KITCH PRIVLS BMT EXP? I’ll take two! Translated: furnished room somewhere in the five miles(!) between Prospect Park and Sheepshead Bay, with kitchen access, and close to the express BMT, which is today’s B train. (New York Post, August 25, 1975)]

This modern format—concise, with no frills—remained the standard for generations, and is still in occasional use today. Such a listing published in the last few decades usually lays out the specifics of the apartment’s interior (“2 BR, 1.5 BA, southern light”) while giving a vague idea of its location (“3 blocks from the R”).

19850406%20BP.jpg [In some cases, no location is given at all. Given the broker’s coordinates, we assume they are in northwest Brooklyn, but… (Brooklyn Paper, April 6, 1985)]

The intentional omission of a street address was actually a matter of self-preservation—not for the landlord, who just wanted a steady stream of income, but for the broker, who risked losing his fee if others got wind that an owner was actively seeking a tenant and moved the apartment before she herself did.

 

 

http://ny.curbed.com/archives/2013/11/18/dive_into_new_yorks_historic_rental_ads_from_the_1830s_on.php

 

China’s penchant for property evokes US bubble mentality | Armonk NY Homes

Amid the government’s effort to pass aggressive legislation designed to cool the housing market, China’s home prices soared to record heights in October, underscoring the persistent danger of a price bubble, Reuters reports.

China’s booming market is reminiscent of the U.S. bubble, since it is driven in large part the view that property is one of the soundest investments. The government has said it intends to pass legislation aimed at curbing a possible bubble as part of what Reuters called its “boldest set of economic and social reforms in nearly three decades.”

 

 

 

Source: Reuters

Banks willing to finance house flippers who burned them before | North Salem NY Real Estate

Homes are being flipped in Southwest Florida at the fastest pace since the housing boom, and about 1 in 4 deals involve some kind of financing — often provided by the same banks that fueled the last bubble, who have proven themselves willing to lend money to flippers who burned them during the crash, according to an analysis by the Sarasota Herald-Tribune.

The newspaper reviewed 1,287 property flips in Sarasota, Manatee and Charlotte counties identified by RealtyTrac Inc., examining who was behind the flips, the source of their funding, and who the properties were sold to.

Many flippers who had defaulted on loans they’d obtained during the boom were able to finance new deals, often from the same lenders they’d burned before. Big banks that “played a central role in the financial meltdown” have been the most active in financing flips, the paper found, along with personal financiers and smaller credit unions.

So far, the deals have been profitable — the flips analyzed by the Herald-Tribune generated almost $23 million in profits, or close to $18,000 per deal. But some wonder how long that trend can last.

“We’re starting to see many of the same factors we saw during the last boom and bust,” real estate analyst Jack McCabe told the paper. “There is going to come a day of reckoning.”

 

 

 

 

Source: heraldtribune.com

Despite uncertainties, homebuilders remain optimistic | Mount Kisco Real Estate

Despite some recent wobbling in economic and housing indicators, more homebuilders still view market conditions as good than poor, the National Association of Home Builders said today.

The NAHB/Wells Fargo Housing Market index remained at 54 in November unchanged from October after a downward revision.

“Given the current interest rate and pricing environment, consumers continue to show interest in purchasing new homes, but are holding back because Congress keeps pushing critical decisions on budget, tax and government spending issues down the road,” NAHB Chairman Rick Judson editorialized in a statement accompanying the release of the latest index.

“Meanwhile, builders continue to face challenges related to rising construction costs and low appraisals.”NAHB Chief Economist David Crowe said that uncertainty about government policies and economic uncertainty is undermining consumer confidence, but that builder confidence remains above 50 “is an encouraging sign, considering the unresolved debt and federal budget issues cause builders and consumers to remain on the sideline.

”The NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months, and asks builders to rate traffic of prospective buyers. Scores from each component are used to calculate a seasonally adjusted index, with any number over 50 indicating that more builders view conditions as good than poor.

The HMI index gauging current sales conditions in November held steady at 58. Expectations for future sales fell one point to 60, and traffic of prospective buyers dropped one point to 42.

 

 

Source: nahb.org – See more at: http://www.inman.com/wire/despite-uncertainties-homebuilders-remain-optimistic/#sthash.5wFo8nm7.dpuf

Nine Über-Grandiose Rentals and Their Mod Complements | Waccabuc Real Estate

before
after

Say what you will about rentals—that they’re hard to decorate, expensive, orders of magnitude too small—there’s at least a smörgåsbord of options in any given locale. If variety is the spice of life, then the rental market is the most well-stocked and poorly organized spice drawer the world has ever known, wherein wasabi snuggles up next to vanilla bean. And, indeed, what field more convenient to have a jumble of balls-to-the-wall offerings than that of temporary homes? Take, as proof, these two listings in London. One (at left) asks £40,000 ($64,440) a week and comes with gold ceilings, two gazillion (an exact figure) pounds of drapery, and a ballroom with three massive crystal chandeliers and two equally monstrous flanking fireplaces. Oh, and let’s not forget the two elevators, 14 bedrooms, 10 bathrooms, and 11 reception rooms. In the same city: a penthouse apartment—also on the rental market, though at 12 percent of the cost—done up in clean lines and a much more pared-down (to say the least) aesthetic. Below, eight more odd couples:

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before
after

Grandiose house: Location: Paris Price: $54,100 a month Highlights: Architecture by Charles Garnier—the mastermind behind the Opera de Paris—plus a suite of yummy salons and reception areas, winter garden, steam room, and indoor pool.

Pared-down house: Location: Paris Price: $5,990 a week Highlights: Interiors like “a rocket ship of luxury,” with lots of angular upholstery and a rooftop patio.

 

 

 

 

 

http://curbed.com/archives/2013/11/18/nine-grandiose-traditional-rentals-and-their-mod-complements.php

Dive Into Rental Listings Across Miami’s History | South Salem NY Real Estate

In Miami, renting an apartment always had a certain appeal, and was marketed—with reservations—towards tourists. Renting for the winter season was a halfway point between hotels and owning property. A renter was already someone who came to Miami Beach but who wasn’t ready, or perhaps couldn’t afford, to commit to purchasing.

It was a strange middle-space that ad-men marketed to with pretty ads, showing the beautiful spaces one could occupy, but without full embrace, and always next to the much flashier, much bigger, and much more glamorous ads of those spaces one could own. We tore through old issues of the Miami News on the Google News Archives. So here we present, without further ado, a selection of apartment advertisements from some key boom times in Miami’s history, the 20s, the 40s, and the 50s.

  • A ceiling fan, gas heating, closet space, jalousies!
  • The Carl T. Fisher company, builders of Miami Beach, which placed many, many luscious advertisements for land for sale, limited their rental advertisements to modest, one column listings in the classified section. Bias much?
  • It’s a ‘cooperative apartment’, a.k.a. a Co-op, not actually a rental and a total rarity in Miami.
  • Towards the middle of the century oceanfront, and near-to-oceanfront apartments became more common. An extension of the resort hotel experience, the resort ‘apartment’ duplicated the hotel but one lived there on a longer term basis. You’d rent an apartment for the season, or perhaps buy a condo.
  • The real money was always, of course, in real estate for purchase, not rent. From the beginning realtors and builders knew this. Although you could rent a garden apartment in Coral Gables, what they really wanted you to do was buy. The Biltmore wasn’t built in the middle of a residential neighborhood for nothing.

 

 

http://miami.curbed.com/archives/2013/11/18/dive-into-rental-listings-across-miamis-history.php

All Aboard Florida’s Ft. Laud. Station Will Be In Flagler Village | Katonah Real Estate

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All Aboard Florida is planning to announce on November 22nd that their Fort Lauderdale train station will be just north of Broward Boulevard, in Flagler Village. The Las Olas Riverfront site is out. It will likely span the tracks from the empty Florida Power & Light lot on the west side of the railroad tracks between Broward and NW 2nd Avenue to the Broward Central Terminal bus depot on the east side of the tracks, a location that was established as the preferred spot on the railroad’s environmental assessment report. This completes selection of the project’s four station locations in Miami, Fort Lauderdale, West Palm Beach, and Orlando.

Also in the environmental assessment report (it was full of goodies), the station, which will be designed by firms Skidmore, Owings & Merrill and Zyscovich, will be centered around a great hall with an elevated waiting room and concourse above the tracks connecting to a 35 foot wide central platform. Sure, it won’t be as monumental as the Miami terminus station, but it won’t exactly be dinky either. · Fort Lauderdale FEC Station [Curbed Miami] · All Aboard Florida coverage [Curbed Miami]

South Florida mansion comes with $450K Rolls Royce | Bedford Hills Real Estate

A 16,000-square-foot Boca Raton, Fla., mansion that features a theater, a nine-car garage, full gym, two gourmet kitchens (one to keep kosher with) and direct ocean access with a double yacht dock, also comes with a $450,000 Rolls Royce to any buyer who forks up the full $12.75 million asking price for the home.

 

 

 

Source: Sun-Sentinal – See more at: http://www.inman.com/wire/south-florida-mansion-seller-offers-450k-rolls-royce/#sthash.doTTzifs.dpuf

Planting the seeds of brand perception | Bedford NY Real Estate

I hear this sentence all the time: “I don’t know what a brand is, but I don’t think I need one.” I decided to take this opportunity to try to define the concept of branding to explain why you need a brand.

In a way, it’s like explaining why we need air. So, please hang in there with me, and let me know if what follows makes sense.

How can you recognize a brand? AstonMartin275Raise your hand if you recognize the car in the photo to the left. If you didn’t raise your hand, you know that it’s a sporty-looking car. Just looking at the car, for all you know, it could be a hybrid with a top speed of 60 miles an hour. That could be your perception just from looking at the photo.

If you did raise your hand, you know that you’re looking at an Aston Martin. A 2010 DB9 Volante, to be exact. And, now that the rest of you know it’s an Aston Martin, you probably have quite a different perception of the vehicle.

What do you know about Aston Martins? If you’re a car buff at all, you know that James Bond was fond of Aston Martins. So, does that fact make you feel differently about the car than when you thought it might be a hybrid? Indeed. Why?

Because you now perceive the car to be a hot sports car, capable of making beautiful women swoon, achieving high rates of speed, completing very sharp turns, and, in the hands of  “Q,” launching rockets. And that perception is reinforced by other things you may know if you are a car buff.

 

 

 

 

– See more at: http://www.inman.com/next/planting-the-seeds-of-brand-perception-agents-must-be-the-aston-martins-of-real-estate/#sthash.LBy4fAih.dpuf