New York Multifamily Owner & Tenants Want New Elevator. One Tenant Gives Them Shaft.
August 13, 2010 by Neil · Leave a Comment
How come 20 tenants at 218 East 84th Street don’t have an elevator? Because one tenant said no. Really. The owner of the five-story walkup on the Upper East Side applied to the Division … Read More
NY to Atlantic Yards Developer: Finish By…2035?!
February 1, 2010 by Neil · 1 Comment
What will happen by 2035? Muslims will outnumber Christians in Britain. China will surpass the U.S. economically. Jerusalem will lose its Jewish majority, if those predictions are accurate. In addition, 2035 is also the Read More
Which New York City Multifamily Developer Heads To Prison For 4 Years? (Hint: It’s Still Not Sam Chang)
January 28, 2010 by Neil · Leave a Comment
Manhattan developer Michael Hershkowitz was sentenced to four years in prison and ordered to forfeit $27.2 million for his role in a Ponzi scheme involving fraudulent loans secured by nonexistent mortgages. Prosecutors had alleged Hershkowitz and others induced about 70 individuals to … Read More
Apartment Vacancy Rates & Apartment Rent Rates: New York City & Long Island
January 28, 2010 by Neil · Leave a Comment
As vacancy rates increase, rents should drop. Right? Not exactly, according to the latest data from REIS. If the relationship was inverse, as expected from the data, then the lines would more definitively approach a V- or an X-shape. In 4Q 2009, … Read More
New York City Cash To Help Apartment Building Investors?
January 23, 2010 by Neil · Leave a Comment
New York City’s Department of Housing Preservation and Development, or HPD, will lend $750 million over the next five years to qualified investors of 267 buildings containing 3,564 apartments that are deep in a state of disrepair and in or close to … Read More
