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nonya
September 10th, 2003, 12:29 AM
My fiance & I have been looking for an affordable 2 bedroom condo (less than $550000) in mid-town but havn't been having any luck. Brokers that I have contacted have not been very helpful. Does anyone have any advice?

Also, is it possible to save money if we buy an unfinished apt in a new condo development? If so, how do we find out about them? Most of the new developments seem to be in the luxury catagory and not in our price range.

We are also first time home buyers and currently living in Queens. Should we give up on Manhattan and just stay in Queens???

BrooklynRider
September 10th, 2003, 09:12 AM
Downtown still seems to have incentives.

billyblancoNYC
September 10th, 2003, 10:04 AM
Queens is a lot cheaper. Still NYC, close to Manhattan...

NyC MaNiAc
September 13th, 2003, 11:31 PM
I would also say try Downtown.

You could get a fantastic location for a much cheaper price.

tmg
September 14th, 2003, 01:36 PM
For that type of money, you could buy a nice house in Jackson Heights.

TonTonmaKoute
September 21st, 2003, 08:10 PM
Oh! For crying out loud what is it with you people? Look with that kind of money in mind why don’t you and your so call fiancé buy a 5 story brown stone in the downtown Brooklyn area and then you can rent one or two floors and have the building pay for itself. Now that is the smart way to go about it, so instead of having a liability you have an asset. Buying a condo in the downtown Manhattan or anywhere in forsaking city is an error.

TonTon.....

billyblancoNYC
September 21st, 2003, 08:33 PM
Um, do you need a nap?

normaldude
September 22nd, 2003, 05:41 AM
Oh! For crying out loud what is it with you people? Look with that kind of money in mind why don’t you and your so call fiancé buy a 5 story brown stone in the downtown Brooklyn area and then you can rent one or two floors and have the building pay for itself.


I disagree. Buildings don't manage themselves. Working as a landlord is a job. So it depends if that's how they want to spend their time & money. Here's a good story about being a small landlord:

http://forums.wirednewyork.com/viewtopic.php?t=608



Now that is the smart way to go about it, so instead of having a liability you have an asset.


Buying a larger unit means more mortgage debt.



Buying a condo in the downtown Manhattan or anywhere in forsaking city is an error.


Not if they want to live there for a long time, and have no interest in working as a landlord. Different people have different tastes & preferences.

SHBAR
September 22nd, 2003, 09:20 PM
Also, you won't find much in the way of a Brownstone in any kind of half descent neighborhood for that money. $900,000 and up in Park Slope, Boerum Hill, Brooklyn Heights, Dumbo even stupid Fort Green!! When I was in Brooklyn Technical H.S. back in the mid 70's, the city was giving those brownstones away for free around Ft. Greene... now they are a million and up!!

lofter1
June 15th, 2006, 06:32 PM
One MIGHT become available at 100 W. 58th Steet ...

Brazil sex sting

Cops bust foreigner as big-bucks brothel babe

http://www.nydailynews.com/images/editors/header_dnexclusive.gif

BY KERRY BURKE, BARBARA ROSS and DAVE GOLDINER
DAILY NEWS STAFF WRITERS
June 15, 2006

NY DAILY NEWS (http://www.nydailynews.com/front/story/426849p-359966c.html)

http://www.nydailynews.com/ips_rich_content/595-madam.JPG

Claudia DeCastro gets escorted from
7th Precinct yesterday after being
charged with prostitution in high-priced
call girl ring allegedly run by Brazilian madam
Andrea Schwartz at her condo on 58th St.
(below).

http://www.nydailynews.com/ips_rich_content/35-brothel.JPG

A Brazilian woman is accused of running a high-priced call girl ring out of her $1.2 million midtown condo - featuring a rotating cast of beauties straight from the land of sun and samba, the Daily News has learned.

Business was so brisk at the brothel allegedly run by Andrea Schwartz that prosecutors say she had the cash to put together a $350 million deal with Italian investors to buy a floor of condos in The Plaza hotel.

Schwartz, 31, admitted charging up to $1,500 for a kinky hour in the sack with two of her ever-changing stable of lovelies at her apartment at 100 W. 58th St., just a block from Central Park South, according to papers filed in Manhattan Criminal Court.

"I've been running this prostitution business for the last year and a half," Schwartz, who is set to appear in court today, admitted to cops, according to an affidavit filed by Detective Patrick McGrath of the Manhattan South vice squad.

Schwartz also admitted selling cocaine to some of her cash-only clients, but insisted pleasure - not dope - was her primary product, authorities said.

"I never considered myself a drug dealer," she allegedly told McGrath. "I just supply coke to my clients."

Schwartz, who took English language classes at Fordham University, is also charged with laundering millions in profits from the sex ring.

She portrayed herself as a savvy businesswoman who used proceeds from the oldest profession to fund big-bucks investment in high-end real estate.

"All the money I make in prostitution, I put in the bank, and I'm using the money to pay off the mortgage on my place," she allegedly told cops.

She was arrested June 1 with two other women, Marta Nogrega, 37, and Minatee Park, 29, after cops raided her apartment in the Windsor Park luxury condominium. All were hit with prostitution and drug charges.

A fourth defendant, Claudia DeCastro, was arrested yesterday outside the same address, authorities said.

"She'd bring up girls [from Brazil] ... and in one month they could make enough to go home and buy their parents a house," said a source close to the case.

At Schwartz's arraignment, prosecutor John McConnell argued successfully against bail, citing the Plaza deal as evidence Schwartz had the means to flee. He said Schwartz carried Brazilian, Italian and U.S. passports.

She admitted making at least $1.5 million in prostitution profits since 2001, officials said.

Real estate records show she made about $500,000 in profit when she sold a co-op apartment in Chelsea in 2002.

Despite the admissions, her defense lawyer, Andrew Hoffman, said yesterday that Schwartz "vigorously disputes the allegations. We'll ultimately establish our innocence at trial."

Doormen at her condo noticed Schwartz was always traveling back and forth to Brazil - from where cops said she often returned with new recruits.

"She had a lot of visitors ... mostly Brazilian women," one doorman said, who added Schwartz went on shopping forays to Victoria's Secret. "We figured they were probably family."

A parade of undercover vice squad cops went to the apartment looking for sex and drugs, and were promised both for hefty fees, officials said.

Schwartz showed them pictures of hookers and quoted prices up to $1,500 for a threesome with two women.

It cost $700 for sex with one of her hookers, though she charged more for her services, authorities said.

All contents © 2006 Daily News, L.P.

MrSpice
June 16th, 2006, 10:15 AM
My fiance & I have been looking for an affordable 2 bedroom condo (less than $550000) in mid-town but havn't been having any luck. Brokers that I have contacted have not been very helpful. Does anyone have any advice?

Also, is it possible to save money if we buy an unfinished apt in a new condo development? If so, how do we find out about them? Most of the new developments seem to be in the luxury catagory and not in our price range.

We are also first time home buyers and currently living in Queens. Should we give up on Manhattan and just stay in Queens???

The best site to look for any type housing is NY Times Real estate page. Go go to nytimes.com, specify your price limits and search for open houses.

What is your motivation for moving to Manhattan? Where do you both work?

Eugenius
June 16th, 2006, 04:36 PM
$550,000 for a two-bedroom. That kind of pricing seems laughable now...
Wasn't nearly as outrageous back in 2003. How times have changed.

miamigirl
April 27th, 2010, 03:38 AM
Deadbeat developers cited
By LOIS WEISS
February 4, 2010
"The Toy Building owes a pile of back taxes.
According to the city's Department of Finance, the building that owes the most in water charges and property taxes this year is Yitzchak Tessler's former Toy Building at 1 W. 24th St. -- aka 1107 Broadway.
The stalled condo development has racked up a tab of $3.5 million and holds a Lehman loan for $246 million. The firm's phone number no longer works.
Second is Yair Levy's bankrupt Park Columbus at 101 W. 87th St., which owes $1.8 million.
Number six is Yeshiva Yar Torah in Little Neck, Queens, which owes $889,139 going back to July 2008. The newly built pre-K to eighth grade school, which has its own tax lot inside a two-unit commercial condo, is a nonprofit and could be exempt from property taxes, but its officials didn't return calls prior to deadline. Finance did not have a record of any tax-exempt status.
In total, the top 10 delinquent New York City taxpayers owe $12.9 million in water charges and property taxes.
The city is this week sending 90-day notices of lien sale to 24,963 owners who owe a total of $454.3 million. That's down 23 percent from last year. "

miamigirl
April 27th, 2010, 03:41 AM
Deadbeat developers cited
By LOIS WEISS
Last Updated: 9:11 AM, February 5, 2010
Posted: 12:33 AM, February 4, 2010
"The Toy Building owes a pile of back taxes.
According to the city's Department of Finance, the building that owes the most in water charges and property taxes this year is Yitzchak Tessler's former Toy Building at 1 W. 24th St. -- aka 1107 Broadway.
The stalled condo development has racked up a tab of $3.5 million and holds a Lehman loan for $246 million. The firm's phone number no longer works.
Second is Yair Levy's bankrupt Park Columbus at 101 W. 87th St., which owes $1.8 million.
Number six is Yeshiva Yar Torah in Little Neck, Queens, which owes $889,139 going back to July 2008. The newly built pre-K to eighth grade school, which has its own tax lot inside a two-unit commercial condo, is a nonprofit and could be exempt from property taxes, but its officials didn't return calls prior to deadline. Finance did not have a record of any tax-exempt status.
In total, the top 10 delinquent New York City taxpayers owe $12.9 million in water charges and property taxes.
The city is this week sending 90-day notices of lien sale to 24,963 owners who owe a total of $454.3 million. That's down 23 percent from last year. "

mariab
April 21st, 2013, 12:22 AM
New condo building a block from Central Park delivers value in the land of excess

Bazbaz Development offering homes at 101 W. 87th St. starting at $820,000 for one-bedrooms

By Jason Sheftell (http://wirednewyork.com/authors?author=Jason Sheftell) / NEW YORK DAILY NEWS
Published: Thursday, April 18, 2013, 8:24 PM
Updated: Friday, April 19, 2013, 2:00 AM

On an unassuming stretch of the upper West Side, a block from Central Park, 101 W. 87th St. attracted a slew of buyers by doing something unheard of in New York City real estate: The developers priced the building fairly.
In one of Manhattan’s priciest districts, where the Laureate saw five-bedroom apartments sell for $10 million, all in cash, Bazbaz Development offered homes starting at $820,000 for one-bedrooms, $1.2 million for two-bedrooms and $1.8 million for three-bedrooms.
A gut renovation of a 1980s rental building, 101 W. 87th saw its fair prices accelerate contracts and sales to where only six of 62 homes are available after four months of marketing.
“You have to run a hedge fund to live in most buildings around here,” said developer Sonny Bazbaz, who led a partnership that bought the building out of bankruptcy for $48 million. “I didn’t want that for these buyers, but I didn’t want them to sacrifice quality of finishes, either.”
http://assets.nydailynews.com/polopoly_fs/1.1321187.1366330326!/img/httpImage/image.jpg_gen/derivatives/landscape_635/developer-sonny-bazbaz.jpgDavid Handschuh/New York Daily News

The building has almost sold out after four months.


So Bazbaz, showing greater taste than most city developers, worked with SLCE Architects and INC Architecture & Design to blend affordable natural materials and smart layouts with high-end finishes. The result is big rooms with white oak, wide-plank flooring, white kitchen countertops, marble baths and premium appliances.
“This is still luxury, but at a price lower than what new construction typically costs in this area or anywhere else in Manhattan,” said Bazbaz, whose company is simultaneously developing Warren Lofts in Tribeca.
“Buyers realized that they were getting value here. We have people buying from inside the neighborhood, from all over the city, and even coming back from the suburbs. That’s how we knew we had something special — when people were moving back to the city to live here with their families.”
The upper West Side has long been considered one of America's great urban family enclaves.
http://assets.nydailynews.com/polopoly_fs/1.1321184.1366330320!/img/httpImage/image.jpg_gen/derivatives/landscape_635/developer-sonny-bazbaz.jpgDavid Handschuh/New York Daily News

101 W. 87th caters to the area’s strong family ethic.


Saddled between two parks (Central and Riverside), it has more cultural institutions than most cities. Lincoln Center, the American Museum of Natural History, the Beacon Theatre, religious institutions, solid schools, active parents, low crime, and YMCA and Jewish centers all contribute to an environment of activity for locals of all ages. The area has consistently attracted New York families since the 1920s.
Legendary New York food outlets such as Zabar’s and Fairway anchor parts of the neighborhood. Jerry Seinfeld, Sting, Bruce Willis and Bono call the area home.
Recently, a major retail boost hit the upper 80s around Broadway, with Brooks Brothers opening a large store. On the corner of Columbus Ave. and 87th St., 101 W. 87th will boost the quality of the nearby retail sector, which now includes a bird veterinarian, a deli and Momofuku coffee shop across the street.
“The basics are all here with room to improve,” says Bazbaz. “I knew we had to have this building when I stood on the corner of 87th St. and looked at the rows of brownstones lined up toward the park. It’s a stunning vista. The history, the street, it all comes alive. Just imagine it on a spring day. Who wouldn’t want to live on this corner. We designed and sold off that premise.”
http://assets.nydailynews.com/polopoly_fs/1.1321182.1366330317!/img/httpImage/image.jpg_gen/derivatives/landscape_635/developer-sonny-bazbaz.jpgDavid Handschuh/New York Daily News

Sonny ­Bazbaz, developer of 101 W. 87th St.


One of the first apartments to sell at the building was a $7.6 million four-bedroom penthouse with direct views of Central Park, brownstones and adjacent streets. Built on top of the building with panoramic views and a 360-degree terrace, the penthouse has a more modern feel, like a private residence at the top of the structure. On the ground floor, amenities include a children’s playroom, fitness center, residents’ lounge and outdoor garden.
“We didn’t want anyone who lived here to want for anything,” said Bazbaz. “I had this suspicion if we delivered something of quality without trying to extort every penny from our buyer, we would sell well. I don’t develop the same product everywhere every time out.
“We try to build what the neighborhood and buyer want. It all depends on the site and the market. That’s what dictates the product.”
YOU SHOULD KNOW

WHAT: 101 W. 87th St., where only six apartments remain unsold after four months. Bazbaz Development delivered luxury homes at a price below other construction in the nabe. Corcoran Sunshine is handling sales and marketing.
HOW MUCH: One-bedrooms started at $820,000. Among the six units remaining, a three-bedroom is going for $2.6 million.
WHERE: Northwest corner of 87th St. and Columbus Ave. Go to 101w87.com for more, or see bazbazdevelopment.com.


Read more: http://www.nydailynews.com/life-style/real-estate/best-upper-west-side-article-1.1321193#ixzz2R4H0JvZm