Category Archives: South Salem

NYC’s stalled construction sites drop 12 percent: report | South Salem Real Estate

Leave a reply

The revival of development projects in Manhattan and Brooklyn resulted in a 12 percent year-over-year drop in the number of stalled construction sites in New York City, according to the latest report from the New York Building Congress. There were 610 stalled construction sites citywide in November 2013, compared to 690 in November 2012 and a peak of 709 in November 2010, according to data from the New York City Department of Buildings.

The number of stalled sites in Manhattan dropped 26 percent over the past 12 months – from 122 in November 2012 to 90 in November of this year. Reignited projects in Manhattan include the Alexico Group’s 56 Leonard Street , Silverstein Properties’ 30 Park Place and Elad Group’s 5 Franklin Place in Tribeca

Brooklyn leads the city with 267 suspended projects, though it too has seen a 17 percent year-over-year decline, according to the report.

“In our annual construction forecast report released in October, we estimated that residential construction spending will double between 2012 and 2015,” said New York Building Congress president Richard Anderson in a statement today. “That rosy outlook was based largely on the fact that a number of luxury developments, which were shelved during the great recession, have come roaring back to life.”

 

 

http://therealdeal.com/blog/2013/11/25/nycs-stalled-construction-sites-drop-12-percent-report/

Gramercy Unit Sells for $17.3M; Transplants Can’t Cut it in City | South Salem NY Homes

Leave a reply

Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section…

2010_8_parkside.jpg

1)Big Ticket The award for biggest sale of the week goes to 18 Gramercy Park South, where a full-floor, 4,207-square-foot apartment sold for $17.3 million. Carrying costs rounded out at about $11,225.31 and the sponsors, Zeckendorf Development and Global Holdings, bestowed a key to the private Gramercy Park as a customary closing gift, which sounds wonderfully dramatic and fun. We wish we had a key to a secret park . . . [“Big Ticket | Luxury Lodging for $17.3 Million”]

2) Every “The Hunt” column begins with the Hunters describing the apartment they want, and ends with them rationalizing whatever they came away with. This is The Hunt: Dreams vs. Reality The Hunters: a couple sick of city-life looking to move to the ‘burbs Price Dream: $350,000 to $450,000 Reality: $387,500 Neighborhood Dream: Westchester Reality: Hartsdale Amenities Dream: quiet, spacious Reality: 3BR/2BA, spacious Summary After seeing their rent on the Upper East Side skyrocket, this couple decided that city-life (and its modern hullaballoo!) wasn’t for them and decided to look for a two-story home in the suburbs, focusing on Westchester. They eventually settled on a two-story, Cape-style home with three beds and two baths in Hartsdale, attracted by its small ask and spaciousness. They paid $387,500 and are apparently loving life because everything’s cheaper and commuting to work doesn’t make them homicidal. But alas, they now live in the suburbs, trading crippling neurosis for soul-shattering boredom.

 

[The Hunt/”In Westchester, an End to Elevator and Subway Commutes”]

South Salem sales up 25% | Median price down 3% | #RobReportBlog

Leave a reply
South   Salem NY Real Estate ReportRobReportBlog
20136 months ending 11/222012
45Sales36up 25%
$550,000.00median sold price$567,500.00down 3%
$190,000.00low sold price$245,000.00
$1,450,000.00high sold price$1,210,000.00
2617average size2702
$254.00ave. price per foot$226.00
179ave days on market208
$639,013.00average sold price$602,737.00
96.19%ave sold to ask93.64%

Foreclosure inventory down to lowest level since 2008 | South Salem NY Real Estate

Leave a reply

After 18 straight months of declines, U.S. foreclosure inventory is now at its lowest point since the end of 2008, according to a monthly report from Lender Processing Services.

Foreclosure inventory fell nearly 30 percent year over year in October, to 1.28 million loans, or 2.54 percent of currently active mortgages.

Delinquencies (loans that are 30 or more days past due but not in foreclosure) fell 2.8 percent from September, to 3.15 million loans, or 6.28 percent of mortgages. The delinquency rate fell 10.7 percent on an annual basis.

All in all, 4.4 million properties were either delinquent or in foreclosure in October. Mississippi had the highest percentage of noncurrent loans among states last month, eclipsing Florida for the first time since 2008.“Except for the period after Katrina, Mississippi has held the dubious distinction of having the highest noncurrent inventory for virtually all of the history LPS tracks. So, unfortunately for Mississippians, this is more indication that things are getting back to ‘normal,’ ” LPS said. Source: LPS

 

 

– See more at: http://www.inman.com/wire/foreclosure-inventory-down-to-lowest-level-since-2008/#sthash.bpSlaKht.dpuf

7 Niche Social Networks for Strategic Networking | South Salem NY Homes

Leave a reply

Do you find it hard to connect with your ideal audience using the larger social networks?

Have you considered a smaller social network?

In this article, you’ll find 7 niche social networks built to serve specialized markets.

Why Niche Social Networks?

Ask almost anyone what to include in your social media strategy and you’re likely to hear Facebook, Twitter or Google+ in the response.

But you may find it useful to tap into a specialized network.

Use a niche social network to reach a narrowly targeted audience where strategic networking can help you connect with potential customers and business partners of all kinds.

A niche social network within your industry can work wonders to reach people of interest there.

You can also look for niche sites where people come together around one of the core values or interests of your business. It’s an easy way to find and connect with like-minded people for more strategic networking.

The easiest and fastest way to find these niche sites is likely to be a good old Google search. For example, see below:

Use a Google search to find niche social sites relevant to your business.

Use the examples below to inspire you to connect with niche social networks for more targeted networking.

#1: Build Sustainable Relationships on Wiser—The Social Network for Sustainability

Is your business actively involved in sustainability and environmental topics? This is something that’s becoming very important to many businesses and Wiser is a network built specifically to encourage dialogue about all things environmental.

If your company is green, you can use Wiser to add partner organizations, promote events and share resources that raise your company’s profile where it counts.

Adding an organization in Wiser.

Much like with LinkedIn, you can also add groups where you can discuss issues close to your heart and propose solutions.

Create a profile on Wiser today and start to network with people whose values align with yours.

 

 

http://www.socialmediaexaminer.com/niche-social-networks/

 

Million Dollar Hamptons Summer Rentals | South Salem Real Estate

Leave a reply

rose%20hill%20road.jpg

The Hamptons is the proud home of the million-dollar summer rental. Since you as a hedge funder, Russian oligarch, or A-list rapper of course have one million or so to drop on your vacation house next year, assuming Wall Street stays hot, you evade the polonium-equipped assassins on your trail, and/or your next album doesn’t bomb, you’re planning to snap up one of them. Let’s look at some of your options for summer 2014.

flying%20point%20road.jpg [©AerialAesthetics.com]

535 and 533 Flying Point Road, Water Mill, BHS Your first option is this eight-bedroom, four-acre compound in Water Mill. “A spectacular 14,000+/- sf manor, 50’x20′ heated gunite pool, luxurious pool house with outdoor kitchen and bar on 1.9+/- acre. Tennis court with Hydrocourt system and a 3-bedroom, 2 and one-half bathroom guest house on the adjacent 2.1+/- acres.” Hedgies: This is the place for you. It’s low key, elegant, and there’s room in the guest house for your peons spending the weekend working. Oligarchs: Pass. Not defensible enough to foil the assassins, though the guest house does offer room for security. Rappers: Pass. Not impressive enough.

southampton%20meadow%20lane.jpg

396 Meadow Lane, Southampton, Sothebys Your second option is this oceanfront house in Southampton. There’s nine bedrooms, seven baths, 7000sf, pool with pool house, tennis court, all on 3.2 acres; the interiors are kind of French and fussy. Hedgies: Maybe. The house is impressive but the French-style interiors might ping the radar of stuffy WASP Wall Streeters. Oligarchs: Go for it! This house’s setting is defensible from many sides. Plus the French style interiors ought to make you happy. Rappers: Maybe. Still, could be blingier.

rose%20hill%20again.jpg

315 Rose Hill Road, Water Mill, Elliman The next rental is slightly less expensive than a mil, at 895K for the summer. Keep in mind, though, last year, Rose Hill was offered at $1.2M for the season, so it’s cheeeeeap now. The 20,000sf house features twenty-first century technology including state-of-the-art security and a Crestron entertainment system. Retire to the “grand master suite,” four guest suites, three staff bedrooms and eight fireplaces with antique mantels. Hedgies: Pass. PASS. Oligarchs: Worth a look. Supplement that “state-of-the-art security” with some burly Cossacks with semi-automatics. Rappers: We had you at “staircase in cast bronze and silver & gold leaf,” didn’t we? Don’t forget the “Crestron entertainment system,” though. · All Renters Week 2013 posts [Curbed Hamptons]

It’s official: JPMorgan signs $13B RMBS settlement | South Salem Real Estate

Leave a reply

Mega bank JPMorgan Chase (JPM) signed an agreement with government agencies to end all existing legacy mortgage-backed securities issues for $13 billion.

New York Attorney General Eric Shneiderman, who co-chairs a working group overseeing legacy mortgage investigations, announced the deal, calling it the largest settlement with a single entity in American history.

Schneiderman chairs the RMBS working group, which has spent the past year investigating RMBS issues on behalf of state and federal regulators. The bank reached the deal with the RMBS Working Group, the Department of Justice, and countless other agencies.

The settlement reportedly resolves federal and civil claims related to the bank’s packaging, marketing, sale and issuance of mortgage-backed securities prior to the housing downturn. It also covers legacy issues left over from Bear Stearns and Washington Mutual, two entities JPM took over in the wake of the financial meltdown.

As part of the final agreement, JPMorgan will pay $9 billion, while also providing $4 billion in consumer relief in the form of loan modifications for borrowers at risk of foreclosure.

New York state alone will receive $1 billion from the settlement, including $613 million in cash and another $400 million in consumer relief for struggling borrowers in the state.

Some of the aid will fund families impacted by Superstorm Sandy, with the rest going to legal services and counseling for distressed New York homeowners.

The RMBS Working Group that Schneiderman co-chairs helped usher in the deal. The organization is a joint state and federal effort launched back in 2012 to engage several agencies in the fight against legacy RMBS issues. Those entities include the Department of Justice and various federal and state law enforcement groups.

“Since my first day in office, I have insisted that there must be accountability for the misconduct that led to the crash of the housing market and the collapse of the American economy,” said Attorney General Schneiderman in a statement. “This historic deal, which will bring long-overdue relief to homeowners around the country and across New York, is exactly what our working group was created to do.”

 

 

 

http://www.housingwire.com/articles/28036-its-official-jpmorgan-signs-13b-mbs-settlement-deal-with-the-doj

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

Leave a reply

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

A Pond House in the Arizona Desert | South Salem Homes

Leave a reply

Some of the best modern residential architecture can be found in the U.S. desert Southwest. Phoenix can be considered the epicenter of many of these houses, which seem to rise from the desert through the use of materials like stone and Cor-Ten steel. About 30 miles north of Phoenix is the Pond House, a 1,775-square-foot weekend house designed by Will Bruder, an architect who trained under Paolo Soleri (famous for devoting much of his life to realizing the experimental desert town of Arcosanti). Perched above part of Cave Creek in the upper Bajada desert, the Pond House is skillfully integrated into the landscape, giving a great view of it and being a part of it.
Builder: 180 Degrees Photography by Bill Timmerman

The view from the southeast, looking at the back of the house, shows the water feature that gives the house its name. This “year-round swimming hole,” as Bruder calls it, is an obvious amenity for the weekend retreat.
The front of the house, facing west, is much more opaque, defined by Cor-Ten steel walls that rise from the desert landscape. The curved wall in the foreground defines the edge of the property adjacent to the unpaved approach road. This wall, also Cor-Ten steel, is just out of frame to the right, to allow access to the house; a detached garage lies just beyond the opening.
As you drive alongside the house, its entry is signaled by a couple of small windows above a low roof next to the curved site wall. The rising Cor-Ten wall and roof reach a peak and then descend, only to turn into a stone wall.
Here we are at the break in the curved Cor-Ten site wall, where a water feature rises from the pavement. Water flows over the concrete walls of the fountain to descend toward the house’s entry.
In this dusk shot, the descent to the entrance is clearer, as is the way the stones follow the angle of the wall, something Bruder says gives “a sense of mythical ruins of past cultures.” Perhaps, but It reminds me of Frank Lloyd Wright’s Taliesin West, particularly the rising and descending angular forms. Moving inside we’ll see other details that further recall Wright’s Southwestern home.