Tag Archives: Bedford Corners NY

Bedford Corners NY

Shiny, Aluminum-Clad ‘Dutchess House’ Wants Exactly $1M| #BedfordCorners Real Estate


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Location: Millerton, N.Y.
Price: $1,000,000
The Skinny: When New York architects Matthew Grzywinski and Amador Pons accepted the commission for what would eventually become Dutchess House No. 1, they took on a complicated brief that called for a mix of country home and urban convenience, a home that would be open to its environment while remaining totally secure, with a guest house for visiting relatives, and all on a very tight budget. The pair soon arrived at a design which the listing calls a “Hyper Modern Danish Farmhouse,” an angular, aluminum-clad two-story home with an easily secured lower level and an upper bedroom suite with broad sightlines and its own private terrace. A small patio in front of the home is bookended by the guest house—clad in aluminum and with a matching set of the home’s trademark yellow Dutch doors—and there’s also a bizarre/cool indoor-outdoor shower. The home, which the brokerbabble trumpets as “arguably the most interesting listing in the northern second homes marketplace,” asks a straight $1M.


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Eliot Spitzer in talks for 2.8-acre Kedem Winery site in Williamsburg | Bedford Corners Real Estate


Eliot Spitzer, who last year made his most aggressive move since returning to the family firm with the purchase of a pricey West Side development site, is close to inking a deal to buy a large, stalled residential project on the Brooklyn waterfront, according to sources.

Spizter Enterprises is in negotiations to buy the 2.8-acre Kedem Winery site in Williamsburg, where developer the Rector Hylan Corp. has for several years  tried unsuccessfully to build a pair of mixed-use towers two blocks south from Two Trees Management’s Domino Sugar Factory development.

Spitzer Enterprises declined to comment and the current owner could not be reached. Several sources said Spitzer is in advanced negotiations to buy the site, though another prospective buyer may be in the mix as well.

The Rector Hylan development firm bought the six lots that make up the property between Broadway and South 9th Street for $11.3 million in 2003, and three years later received a pair of special permits from the City Planning Commission allowing for larger, denser buildings than the area’s zoning would have allowed.

The company had planned to build a 24-story tower with 309 residential units on the southern end of the site and an 18-story tower on the northern side with 104 units. All told, the buildings would have an envelope greater than 600,000 square feet, including 26,400 square feet of retail along Kent Avenue. The developer agreed to set aside 20 percent of the buildings’ units as affordable housing.

But Rector Hylan struggled to secure financing for the project as the market turned downward and ultimately failed to get shovels in the ground. When the permits lapsed last summer the company filed for and was granted a three-year extension. The renewal will take them to mid-June 2016.

– See more at: http://therealdeal.com/blog/2014/08/25/eliot-spitzer-in-talks-for-2-8-acre-kedem-winery-site-in-williamsburg-sources/#sthash.WoIPaOkQ.dpuf

Three-in-One Waterfront Glass House Wants $3.75M | Bedford Corners Real Estate


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Location: Henry Island, Wash.
Price: $3,750,000
The Skinny: The little glass house, it seems, will always be with us, but this contemporary home on Washington State’s Henry Island adds a unique wrinkle to the basic four-glass-walls template to set itself apart. Instead of designing one small glass house (or one gigantic windowed box) the architects here divided up the 2.700 square feet of living space into three separate modules, connected in the rear by a long, low-slung breezeway. The three bedrooms are spread out across the modules, with the largest of the glass compartments containing the living areas and kitchen. All of the rooms look out onto Nelson Bay and have sliding glass walls and doors to allow for—Pacific Northwest weather permitting—indoor/outdoor living. The 24-acre property comes with a private mooring buoy and docking rights, and is located just a short sail away from Roche Harbor. It’s asking $3.75M



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Taper continues, monetary policy and interest rates unchanged | Bedford Corners Real Estate


The following are the most salient highlights, directly cited, for the housing industry from today’s Federal Open Markets Committee statement.

(For the full text of the FOMC statement, click here.)

1) The FOMC is optimistic about the economy, but not housing

The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace and labor market conditions will continue to improve gradually, moving toward those the Committee judges consistent with its dual mandate.

The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions.

  • Economic activity has rebounded in recent months.
  • Recovery in the housing sector remains slow.
  • Labor market indicators generally showed further improvement. The unemployment rate, though lower, remains elevated.
  • Household spending appears to be rising moderately and business fixed investment resumed its advance
  • Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee’s longer-run objective, but longer-term inflation expectations have remained stable.

2) Tapering will continue

Beginning in July, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $15 billion per month rather than $20 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $20 billion per month rather than $25 billion per month.

The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability.


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Las Vegas’ Most Expensive Pad is This $38M Penthouse | Bedford Corners Real Estate


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Location: Las Vegas, Nev.
Price: $38,000,000
The Skinny: As the Las Vegas market continues its Great Unwinding, with half-built mega-resorts preparing to meet the wrecking ball and luxury residential towers struggling to move square feet at anywhere approaching pre-bust prices, even the mighty Maloof hotelier family is paring back their holdings, putting their Palms Place penthouse on the block for a cool $38M. It’s by far the most expensive listing in town—Wayne Newton’s hideously overpriced ranch was delisted in fall after failing to sell at a reduced $48M. And, let’s face it: given the city’s rich history of whacked-out penthouses, this one in particular promises to be utterly amazing, especially when you consider that this is the family who gave us the Fantasy Tower, a skyscraper full of themed rooms like the Barbie Suite, the Kingpin Suite and, ickily, the Erotic Suite. Unfortunately, what we have here offers none of the glitzy, guilty pleasures of any of those rooms—it’s just an overlarge honeytrap for the corporate crowd, a place where they can come to be fêted in numbers (the unit fits 500!), plied with bland EDM by a celebrity DJ, served complimentary drinks in rooms that can pass for stylish without actually possessing any style, and whisked away via helicopter immediately after writing a tax-deductible check to a political campaign/art museum building fund/Super PAC. The one thing the place does have going for it is an impressive display of gigantism, with 35 flat screen TVs, a DJ booth, a master suite with a moon roof and a 72-square-foot custom bed, and 27,000 total square feet of indoor/outdoor space. Oh, and the Maloofs are also sweetening the pot by throwing in a Dali, a Picasso, and all the furnishings.



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Economists and Experts Expect 2014 Price Increases to Average 4.4 Percent | Bedford Corners Real Estate


More than 100 housing economists and experts participating in a quarterly survey expect nationwide home values to appreciate 4.4 percent through the end of this year. The most optimistic group of panelists predicted a 5.8 percent annual increase in home values this year, on average, while the most pessimistic predicted an average increase of 3.2 percent.

.Panelists said they expect home value appreciation to slow to 3.8 percent by the end of 2015, on average, and to 3.4 percent through 2016. During the pre-bubble years from 1987 to 1999, home values grew at 3.6 percent per year.

On average, panelists said they expected U.S. median home values to exceed their pre-recession peaks by Q1 2018. The most optimistic panelists predicted home values would rise roughly 12.6 percent above their 2007 peaks by the end of 2018, on average, while the most pessimistic said they expected home values to remain about 5.9 percent below 2007 peaks.

The second quarter findings represented a slight decline from the first quarter survey, when the expert consensus called for a 4.5 percent price increase in 2014.

“After narrowing over the past year, in this quarter, the spread between the forecasts of the most optimistic and pessimistic groups not only expanded, but widened by a degree we have not seen in the four-year history of this survey,” said Terry Loebs, Founder of Pulsenomics. “These data are consistent with a growing uncertainty about how and when conditions in U.S. housing markets will normalize. Time will tell whether Washington’s unfolding plan to expand mortgage credit will have a durable, positive impact on home values, housing confidence, and market expectations.”

Experts were split on the root causes of mounting housing affordability concerns in several large housing markets nationwide. Panelists were asked to identify the primary cause of declining affordability from a list of five choices. Responses that gained the largest support among those with an opinion were stagnant income growth (28 percent), abnormally high rates of home price and rent appreciation (27 percent) and an abnormally low supply of homes currently available for sale or rent (21 percent). Many also pointed to a generally insufficient number of homes (13 percent) and tight credit (11 percent).



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Here’s a Circa-1940 Peek Inside Huguette Clark’s Mansions | Bedford Corners Real Estate



slide_349436_3736553_free.jpegPhoto via the book Empty Mansions

Snagged from the pages of Empty Mansions, a book all about the many old money homes of reclusive heiress Huguette Clark, are these incredible photos of the interiors of Bellosguardo, the family’s estate in Santa Barbara, and, above, the old Clark Mansion on Fifth Avenue. In their NYC palace, the dining room boasted 167 vertical panels carved from a single piece of black oak. The ceilings, according to the Huffington Post, were laced with gargoyles and classical figures. Since her death in 2011, the 17,000-square-foot mansion has been sold off in piecemeal slivers.



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Top Shanghai real estate agents downsize as sales slowdown takes a toll | Bedford Corners Real Estate


Shanghai’s top real estate agent has been forced to downsize, hurt in part by a delay in commission payments from property developers in a market facing increasing liquidity pressure and a slowdown in sales.

Hong Kong-based Centaline Property, which has around 470 branches in Shanghai, told Reuters it has imposed a hiring feeze in the commercial capital and has been reviewing leases at some of its branches since the fourth quarter of last year.

“For agents and shops that can’t meet quotas, we would let staff go through natual attrition and stop renting,” said Clement Luk, Centaline’s chief executive of east China.

“April’s transactions in Shanghai were around 20 percent lower than March; looking at the momentum now, April may not be the bottom yet, May and June could still be on a downtrend.”

Another leading agent in Shanghai, Dooioo Real Estate, said it was also cutting staff, although it still planned to increase its number of branches in the city to 250 by the end of the year from 206 now.

Chinese media reported on Monday that the two real estate agents were cutting staff by 5 to 10 percent, citing internal sources. Dooioo said its staff cuts would be less than that figure, while Centaline said only it was letting staff go.


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House price confidence ‘inflating bubble’ | Bedford Corners Real Estate

Britons have taken a one-way bet on house prices that could be creating bubbles in some parts of the country, research suggests.

Rapid growth in house prices is expected to continue over the next two years, according to a survey by Genworth Financial, the mortgage insurance group. It said that 72pc of respondents expected prices to keep rising until the end of 2016.

People living in London and the South of England were much more likely to believe that prices in their area would increase. The survey showed 80pc of residents in the capital thought prices would rise, compared with just 62pc of people in the North.

Rapidly increasing house prices have also made it harder for first-time buyers to get on the housing ladder.

More than four-fifths of the 1,000 people surveyed said saving for a deposit remained the key obstacle to owning a home. Genworth said 79pc of adults needed help from their parents to obtain a mortgage. “With most households anticipating that house prices are going to continue to rise, while wage levels will not, the difficulties they face in saving for a deposit are not going to go away,” said Simon Crone, the vice president of Genworth.



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