Archive for June, 2008
New York City Waterfalls - Niagara Falls on the East River
(post by BT) The New York City Waterfalls under the Brooklyn Bridge are awesome! What a great idea when an old and budget-constrained city like New York authorizes something so wild and extravagant. I have traveled the world and seen other cities that are much smaller and a lot less famous top our city in [...]
29Jun2008 | | 0 comments | Continued
1595 Lexington Avenue - High Design Coming to Uptown, East Harlem
(post by Dee) A new mixed-use building is going up on 101st Street and Lexington Ave in Manhattan. At a request from one of our close Broker Tails collaborators who lives in the neighborhood, we have investigated a bit about this building. Here is the scoop, albeit a limited one, on this luxury project.
Address: 1595 [...]
Cap Rates: Is Commercial Real Estate Also Falling?
(post by Dee) I recently read a blog post titled Slow Motion Crash that predicts commercial real estate is headed in the same direction as residential - down. He compares the life cycle of the housing market bubble to that of commercial properties, and points to higher vacancies and longer time it takes nowadays to [...]
20Jun2008 | | 2 comments | ContinuedRunning On Empty – Broker’s Time is Worth More Than Gas
(post by BT) I used to say “how can anyone in a city like NY run out of gas”? You have to be stupid! There are gas stations everywhere. How would someone let that happen? Well, I guess being a real estate agent helps. Yes, I can now consider myself one of those ‘idiots”. And [...]
19Jun2008 | | 0 comments | Continued
245 West 99th Street & 2628 Broadway, Ariel East and Ariel West
(post by Guest) I am not a Real Estate Broker but have a unique perspective, developed with over ten years of experience in the industry and 5 years as a Certified Residential Appraiser. One thing about appraising properties is that it’s my job to study in detail how new properties affect the existing ones [...]
18Jun2008 | | 2 comments | ContinuedShort Sale That Got Stalled - Foreclosure Now?!
(post by Dee) Only two posts ago, I wrote about the Short Sale that was so close to closing…. Well, the buyer backed out at the last minute. In this sale, the seller being a bank, not an individual (the owners basically walked away from it), the buyer had nothing to lose. Typically, he would [...]
12Jun2008 | | 0 comments | Continued
Hard Money Lender Part 2: He’s a Rouge Slum Lord
(post by Dee) Remember our previous post about the Hard Money Lender? Well, his story took some interesting twists. After showing his property to a new investor, 2 offers were made, one $50K, another $75K higher than anything he got before – both he turned down the same way… Don’t say no, didn’t counter, and [...]
8Jun2008 | | 0 comments | Continued
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