Realty Digest
A Quirky Collection of News and Information
From Malcolm Carter

**** April 28, 2007 ****

Referrals are our bread and butter. Please help us keep the pantry full by letting us know about friends, relatives, neighbors and colleagues at work who may be thinking of moving.

IN THIS ISSUE:

• Items of Interest
• Out and About
• Check It Outs
• New Listings

Items of Interest
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Boldface

MARIA AND JONATHAN GET TO PLAY IN A NEW HOUSE: Maria Bartiromo, a CNBC business correspondent, and her husband, Jonathan Steinberg, a hedge fund executive and a son of the financier Saul P. Steinberg, bought an 18.5-foot-wide town house on East 62nd Street, according to the New York Post. The price was $6.5 million, according to property records, and the seller was Michael Slocum, a banker with Wachovia Bank, who was transferred out of the city. According to the Observer, the five-bedroom house, east of Third Avenue has a second-floor balcony overlooking the 39-foot-long backyard garden, plus a two-camera security system with a flat-screen monitor. The place has four working wood-burning fireplaces, a 32-foot-long kitchen and a wet bar between the second floor's dining and drawing rooms.

WHAT McAFEE HAS COULD BE A CATCH: Anti-virus software pioneer John McAfee plans to auction off a Colorado estate on May 10, reports the Wall Street Journal. It would be the fourth property he's put under the gavel in recent years. The roughly 280-acre property is in Woodland Park, Colo., near Pikes Peak and 18 miles west of Colorado Springs. The more than 10,000-square-foot main house, which is being sold furnished, has five bedrooms. There also are guest houses, apartments and cabins. The property has four lakes stocked with trout, a 10-acre horse paddock and other buildings. McAfee says auctions allow him to sell properties more quickly than a traditional listing process: "You tend to get less money, but you're guaranteed to get rid of it."

DONNY DEUTSCH BUYS A SPOT: After scouring the Hamptons for years, talk show host/ad mogul Donny Deutsch has found his ultimate oceanfront spot, says the New York Post. The host of CNBC's "The Big Idea with Donny Deutsch" has gone to contract to purchase a 3.3-acre estate in East Hampton, just off fashionable Further Lane, for $29 million. The double dune-protected compound on a bluff includes two pools, a pond with a waterfall and plenty of pristine beach frontage. While the property also features a main residence that's more than 300 years old and two conjoined guesthouses dating from the 1800s, the structures will serve only as temporary housing. The main house, known as "Baker House," is expected to be moved to another location in town, while the fate of the other two buildings is unclear. Deutsch's new digs will be sandwiched between Jerry Seinfeld's manse and Helmut Lang's place to the west.

CALVIN BROADUS' HOME IS ON THE MARKET: Whose? Better known as Snoop Dogg, the rapper is asking just under $2 million for a Southern California home, notes the Wall Street Journal. The Mediterranean-style house sits in the Blaisdell Ranch subdivision of Claremont, just east of Los Angeles. The home, which encompasses roughly 6,500 square feet, has eight bedrooms, a home theater and a recording studio, the listing says. The gated 0.88-acre site also has a pool and spa, pool house and basketball court. Snoop Dogg bought the property in 1994 for $660,000, records show. According to listing agent Geoff Hamill of Prudential Wheeler Steffen Real Estate, the rapper moved out of the house in about 2000 and embarked on a renovation completed last year that more than doubled the square footage.

HE'LL ENJOY BRIGHT LIGHTS FROM THIS PENTHOUSE: Author Jay McInerney and his publishing-heiress wife Anne Hearst have bought a new downtown penthouse, according to the New York Post. The new society power couple, who were married in January, has paid $3.2 million for a two-bedroom, two-bath prewar co-op on East Ninth Street. The apartment just off Fifth Avenue boasts large wrap-around terraces, multiple greenhouses, working fireplaces (including one in the master bedroom), an abundance of closets and views in three directions.

BELAFONTE BANKS ON HIS NEW DIGS: Octogenarian Harry Belafonte, who sold his Upper West Side of 48 years last fall, has paid $5 million for neighboring apartments in the freshly converted Apple Bank Building, reports the Observer. "What makes the Upper West Side so terribly attractive to me," he told the periodical, "is that it is truly a mosaic. It represents the best in the American spirit." His new L-shaped spread has four bedrooms, two overlooking West 73rd Street and two overlooking Broadway. The place pales next to his 17-room sprawl at 300 West End Avenue, which he reportedly sold last year to heiress Abigail Disney for $10.75 million.

DETROIT MARKET IS UNKIND TO JACK WHITE: The Grammy-winning musician has sold his home for $590,000, well below its initial $930,000 asking price, according to the Wall Street Journal. White recorded his hit 2005 album "Get Behind Me Satan" in the foyer of the 5,800-square-foot home. He bought the property in 2003 for $524,000, records show. Last August, he put the house on the market for $930,000 and later cut the price to $650,000. In Detroit, the average price of a home fell 23.5 percent in the first two months of 2007 from year-earlier levels, the Michigan Association of Realtors says.

Research

BUILDER CONFIDENCE CONTINUES TO WANE: Deepening problems in the subprime mortgage market continued to take a toll on builder confidence in April, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index declined three points to 33 in April, its lowest level since December. "The tightening of mortgage lending standards in connection with the subprime crisis has shaken the confidence of both consumers and builders, as reflected in this report," said Chief Economist David Seiders of the National Association of Homebuilders (NAHB). "Indeed, the unfolding effects of this crisis have compelled NAHB to trim our forecasts of home sales and housing production for both 2007 and 2008. While we still expect to see some improvements in housing market activity beginning later this year, the downside risks and uncertainties surrounding that forecast are considerable."

OOPS, SAY SOME LANDLORDS: A new benchmark study of 300 landlords that will shows that nearly one out of five landlords is accidental and didn't intend to rent the property out when they purchased it, according to the Wall Street Journal. The online (and thereby suspect) survey was done by Monogram Research for completelandlord.com, which is targeted to the estimated 10 million small and medium-sized residential landlords in the U.S. Most in the study had obtained another residence and were ready to move on, but more than a quarter said that prices were too depressed in their area to sell, or they couldn't get the price they wanted. Sixty-seven percent own only one property. They are more likely to have a full-time job in addition to managing a property: 80 percent compared with 67 percent of landlords who bought property with the intention of renting it. Accidental landlords are mostly middle-aged: 47 percent are between 45 and 54 compared with 35 percent of intentional landlords. They're also more likely to be female (56 percent, compared with 36 percent of intentional landlords). Fewer than half raised rents last year in contrast to 58 percent of those who bought the rental as a business investment.

This and That

HOUSING DISCRIMINATION IS AT AN ALL-TIME HIGH: The government received 10,328 housing discrimination complaints, the highest number ever filed in a single year, according to an annual fair housing report released by the Department of Housing and Urban Development (HUD). HUD said that race and disability top the list of reasons why individuals filed complaints. They were virtually tied as the most common bases of housing discrimination reported to HUD and state and local government agencies funded through its Fair Housing Assistance Program. Of the more than 10,000 complaints filed, 40 percent alleged racial discrimination while nearly the same percentage alleged discrimination against persons with disabilities. Complainants most often alleged discrimination in the terms and conditions of the sale or rental of housing, or refusal to rent. The Fair Housing Act, which became the law in 1968, make it illegal to discriminate in the sale, rental or financing of dwellings based on race, color, national origin, religion, sex, familial status or disability. States and municipalities add other protected classes - for example, occupation, in New York City and matriculation (whether in college) in D.C.

TO LONDON THE LONG WAY AROUND: You'll get a kick out of visiting Google, then clicking on "maps" on the top toolbar. Then click on "Get Directions" at the top, type "New York" in the first box (the "from" box) at top, type "London" in the second box (the "to" box) at top, hit "Get Directions" and scroll down to step #23. You'll be glad you did. Other city combinations may also work to amuse you.

IS JERSEY CITY A MODEL FOR THE CENTURY: Maybe, say urban planners, who call the formerly distressed city across the Hudson from Manhattan a model of smart growth, according to USA Today in Realtor magazine. As Dean James Hughes of Rutgers University's school of planning sees it, several elements spurred the city's revival since it was left for dead 30 years ago: its location that is a short train ride under the Hudson River from Manhattan, yet with real estate costs that are one-half to one-third of Manhattan's, thereby attracting 30,000 new residents, 27,000 jobs and adding 18 million square feet of prime office space; the success of re-using, reclaiming and redeveloping land - including so-called brownfields (once polluted industrial sites) and grayfields (parking lots, old strip malls); its relatively newly perceived integrity since Mayor Bret Schundler instituted reforms; improvements to its already efficient mass transit system and infrastructure; and its density, with only 8 percent of the homes free-standing, thereby minimizing sprawl and maximizing opportunities for parks and green space. As Robert Cotter, the city's planning director says, "This is how we're growing, and in the future it's where a lot of U.S. cities are going."

SENIOR-LAW SPECIALIST ADVOCATES AGAINST SELLING: Julian Zweber, a lawyer specializing in senior law, suggests that selling their home can mean that a couple gives up a significant amount of security and stability in their retirement assets, says the Minneapolis Star-Tribune in Realtor magazine. If a couple sells their home with the idea of investing the proceeds, living on the interest and renting, they are making a significant portion of their invested funds subject to "spend-down" rules before one spouse would qualify for Medicaid to cover nursing home care, Zweber points out. "If you're married, you can protect your home, one car, household goods, [prepaid] funeral arrangements and a certain amount of money," generally a maximum of $101,640, Zweber says. Folks who have turned their home into a nest egg will have to spend that money, potentially leaving the healthier spouse with no place to live. Other factors that favor holding onto the home rather than selling include the deductibility of mortgage interest and tax payments and the availability of reverse mortgages and home equity loans for emergency cash, Zweber contends.

THE DEPARTMENT OF UNALLOYED PRETENSION: A Los Angeles mansion modeled on Versailles and other French palaces just went on the market for $125 million, tying it for second place among available U.S. properties, notes the Wall Street Journal. Suzanne Saperstein, the recently divorced wife of Texas millionaire David I. Saperstein, owns the 45,000-square-foot estate, known as Fleur de Lys. Records indicate the couple bought the roughly five-acre lot near Beverly Hills in the 1990s and spent five years building the home. It has Italian marble walls, French limestone floors, gold-embossed leather wall coverings and gold-leaf crowned moldings, according to the property listing. Rooms include a ballroom with ceiling frescoes, a library with a first-edition book collection, two kitchens and a screening room with seating for 50. A pool house has a full kitchen, a massage room and a gym. Also on the property: a three-bedroom manager's house, staff quarters for 10, a nine-car garage and a ¾-mile jogging track. Suzanne, 46 years old, recently finalized her divorce from David, who founded Metro Networks, the nation's largest provider of traffic reports until its sale to Westwood One in 1999 for $900 million in stock. The listing's price tag is lower than Saudi Prince Bandar bin Sultan's ranch in Aspen, Colo., listed for $135 million, but matches Donald Trump's $125 million listing for a Palm Beach mansion.

IF YOU LIVED THERE, YOU'D BE DEPRESSED BY NOW: If you plan to retire young, Money magazine says Coeur d'Alene, Idaho should be at the top of your list. That's on the basis of population growth, cost of living, economic potential and quantity of recreation opportunities. Well, maybe on those criteria. But aside from other factors such as the presence of a college and housing costs mostly below a $350,000 median, the magazine also counts as important proximity to a larger metropolitan area. A "large" metropolitan area? In order, Money's top 10 lists Coeur d'Alene, $311,700; Charlottesville, Va., $398,400; Logan, Utah, $205,400; Blacksburg, Va., $233,400; Burlington, Vt., $378,000; Anacortes, Wash., $347,600; Sarasota, Fla., $423,400; Hanover, N. H., $297,400; Manhattan, Kan., $188,600; Ames, Iowa, $176,700. Book your theater tickets there now!

IT IS BETTER TO LEAVE THAN GIVE PROPERTY TO HEIRS: From the heir's viewpoint, inheritance is better than a lifetime gift because the heir receives a new "stepped-up basis" of market value on the date of death, Robert J. Bruss reminds readers of the Washington Post. This is a huge tax benefit, especially if the property had been owned many years with a low basis. When a property is gifted before death, the recipient takes over the donor's often very low adjusted-cost basis. Also, if the net value exceeds $12,000, the donor must file a federal gift-tax return. But no federal gift tax will be due if the donor has given away less than $1 million in lifetime non-exempt gifts. However, if the decedent's estate exceeds $2 million, then federal estate tax must be paid by the estate before the heir receives title. Also, in a few states, there might be an inheritance tax if the heir is not a close relative. For details, consult a tax adviser.

TOGETHERNESS BEGINS AT HOMES: Developers are putting a new spin on an old-money idea: Hailing nostalgia and togetherness, they're pushing preplanned compounds - properties with multiple dwellings that let extended families stay separately yet together - with layouts that typically include a main house, guest cottages and common recreation areas, according to the Wall Street Journal. Unlike the retreats of East Coast clans with names like Kennedy, Cabot and Forbes, the latest renditions are being developed in the Sun Belt and other year-round vacation spots. Also marketed as "family gathering houses" or places for "new family traditions," some are being pitched as full-time homes for retirees. Charlotte-developer Crescent Resources, which says it has sold more than 80 compound lots in Lake James, has three other such communities in the works, including Palmetto Bluff near Hilton Head, S.C., where nine of 10 compound lots, ranging from $2.8 million to $4.75 million, have also been sold. Suggested layouts start with a "big house" of up to 8,000 square feet or a 3,000-6,000-square-foot "gathering house" with a shared cooking and dining area; buyers can add additional bunkhouses, cottages or carriage houses. Prices for a custom-built compound could run $6 million-$12 million, including the land, the developer estimates. In Chapin Estate, a 2,500-acre gated community being developed in Bethel, N.Y., land parcels range in price from $155,000 for a wooded five-acre lot to $1.3 million for eight acres on the lake, and all are zoned for multiple dwellings. Vacationing families who tire of too many games of checkers, sing-alongs and fireside chats will also have access to onsite amenities such as a lakefront country club and activity center offering Pilates classes, and a concierge (at extra cost) to shop for groceries or to call the plumber. Family harmony is not included.

The Market

THE WEATHER CURTAILS SALES OF PREVIOUSLY OWNED HOMES: It reduced home shopping in February, slowing March sales. Adding to the decline was a decrease in subprime lending, according to the National Association of Realtors (NAR). After rising for three consecutive months, total existing-home sales - including single-family, townhomes, condominiums and co-ops - fell 8.4 percent from February and 11.3 percent below March 2006. It was the biggest monthly drop since 1989. The national existing-home price for all housing types slipped to a median of $217,000 in March, 0.3 percent below March 2006, when the median was $217,600. Single-family home sales dropped 9.5 percent from February and are 11.9 percent lower than the March 2006 level. The median existing single-family home price was $215,300 in March, down 0.9 percent from a year earlier. Existing condominium and co-op sales were unchanged from February but down 6.7 percent from the year earlier. The median existing condo price was $228,200 in March, up 3.2 percent from a year ago. Total housing inventory levels fell 1.6 percent to 3.75 million existing homes available for sale, representing a 7.3-month supply at the current sales pace, up from a 6.8-month supply in February.

SALES OF NEW HOMES EDGE UP 2.6 PERCENT: The weak rise follows sharp declines in both January and February, according to figures released by the U.S. Commerce Department. The March sales pace was 23.5 percent below a year earlier. "The increase in home sales for March was quite disappointing, considering the weather-related weakness recorded earlier this year," conceded David Seiders, chief economist for the National Association of Home Builders (NAHB). "Weather conditions were fundamentally good in March, but we gained back only a small fraction of the January-February loss." The inventory of new homes for sale edged up in March to 545,000 units, equivalent to a 7.8 months' supply at the March sales pace. The median length of time that completed homes were on the market was 5.6 months in March, up from 5.2 months in February.

PRICE DROPS ARE REPORTED IN MUCH OF THE NATION: Standard & Poor's said that the S&P/Case-Shiller 20-city composite index in February was down 1 percent from a year earlier. The metro-area price changes ranged from drops of 7.8 percent in Detroit and 5 percent in San Diego to rises of 10.6 percent in Seattle and 7.7 percent in Portland, Ore. In 15 of the 20 cities, March prices were down from a month before.

HOUSING STARTS IN THE NATION INCH UP IN MARCH: They grew 0.8 percent in March as the Midwest region rebounded from a sharp decline in February and posted a 44.5 percent increase for the month, the Commerce Department reported. The pace of housing starts for March was a seasonally adjusted annual rate of 1.518 million units, 23.0 percent below a year earlier. Construction of new single-family homes was up 2.0 percent in March, 24.6 percent below a year earlier. Multifamily housing construction decreased 3.8 percent, off 6.0 percent from a year earlier. "This was the second warmest March on record, and the numbers for starts and permits undoubtedly were supported by this factor," said Chief Economist David Seiders of the National Association of Home Builders (NAHB). "Furthermore, extreme gyrations in the numbers for the Midwest region have obscured underlying trends for several months." Nationally, housing starts for the first quarter of this year were down by 5.5 percent from the final quarter of 2006 and nearly 30 percent below the first quarter of last year, Seiders said, adding that NAHB's forecast shows another modest decline in the second quarter, followed by a gradual recovery beginning around mid-year. "We now expect total housing starts for 2007 to be down by 20 percent from last year," he continued. Permit issuance was up 0.8 percent for the month to a seasonally adjusted annual pace of 1.544 million units, a level that was 25.9 percent below a year earlier. Single-family permit issuance was up 1.4 percent, 28.4 percent below a year earlier. The pace of multifamily permit issuance increased 1.6 percent to 440,000 units for the month, 17.0 percent below the March 2006 pace.

The Mortgage Biz

RATES DRIFT LOWER: The 30-year fixed-rate mortgage (FRM) averaged 6.16 percent for the week, down from last week's 6.17 percent and last year's 6.58 percent. The 15-year FRM was 5.87 compared with 5.89 percent the prior week and the prior year. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.88 percent, down from last week, when it averaged 5.92 percent and 6.21 percent last year. One-year Treasury-indexed ARMs were 5.43 percent this week; the week before, they were 5.45 percent. At this time last year, the one-year ARM averaged 5.68 percent. "Recent economic data releases showing weaker existing home sales in March, coupled with lower consumer confidence in April, caused the market to pause and reevaluate the potential growth of the economy this year," said Frank Nothaft, Freddie Mac vice president and chief economist. "This allowed all mortgage rates to decline slightly this week."

GAO FAULTS GOVERNMENT OVERSIGHT OF TITLE COMPANIES: Limited regulation, complicated business affiliations and an apparent lack of consumer protections have clouded title insurance industry operations, and regulators must step up oversight and enforcement to ensure cost competition and prevent illegal activities, a government report concludes, says Inman News. "Given consumers' weak position in the title insurance market, regulatory efforts to ensure reasonable prices and deter illegal marketing activities are critical," according to the Government Accountability Office (GAO). "However, state regulators have not collected the type of data, primarily on title agents' costs and operations, needed to analyze premium prices and underlying costs." GAO officials recommend that the U.S. Department of Housing and Urban Development (HUD) and state regulators "improve consumers' ability to shop for title insurance based on price." Title insurers tend to market to lenders and real estate brokers rather than to the consumers who ultimately are paying for their services, according to the report. The document added that HUD should improve its enforcement of federal real estate law related to illegal kickbacks, clarify regulations related to affiliated business arrangements and referral fees, and work better with state regulators.

SOME OWNERS CAN LOOK FORWARD TO A TAX BREAK IN 2008: This time next year, some homeowners who pay mortgage insurance will have an extra deduction on their federal income tax returns, reports the Wall Street Journal. Under a new law, certain borrowers who take out a mortgage for purchase or refinance in 2007 are eligible to write off all or a portion of their mortgage insurance premiums for the year. To qualify for the full mortgage insurance premium deduction in 2007, a homeowner needs an adjusted gross income of $100,000 or less; those with adjusted gross incomes of $109,000 or less are eligible for partial breaks. Currently, the deduction is limited to the 2007 calendar year, although there are efforts to extend it. The tax deduction applies to coverage provided by the Veterans Administration, the Federal Housing Administration or the Rural Housing Administration in addition to private mortgage insurance, according to the Internal Revenue Service's Web site. Some argue, however, that the qualifications for the deduction are too restrictive.

THE MARKET IS FORCING SHORT SALES IN SOME AREAS: Instead of receiving large checks at the settlement table, many sellers are writing them, observes the Washington Post. "It was unheard of three years ago," said Kevin Connelly, a mortgage banker for Pinnacle Financial in Vienna, Va. "Everyone was doubling their money, and suddenly the tide has turned." The people most vulnerable to short sales are those who bought their homes within the past two or three years and now want to sell, either because of a life change or a financial problem. The last time large numbers of sellers found themselves "upside down" on their mortgages, or owing more than their houses were worth, was in the early 1990s. There are many homeowners with mortgages that allowed them to put little or no money down or to pay only interest in order to keep their monthly payments low. Others have adjustable-rate mortgages with low introductory teaser rates that have increased. Because they have little or no equity, such homeowners can't refinance. If not, they have to ask the banks to modify their loans. If that doesn't work, they have to sell their homes at a loss or let the banks foreclose on them. Given the choice, most real estate agents and financial advisers say selling is the way to go because foreclosure ruins a person's credit for years.

FORECLOSURES IN THE U.S. ARE CLIMBING: More than a quarter-million (253,803) pre-foreclosures and notices of pending foreclosure auctions were filed nationwide in the first quarter of the year. That means 2.4 out of every 1,000 homeowners faced losing their property to foreclosure in the first three months of 2007, according to new and expanded foreclosure filing numbers now available from Foreclosures.com. Those numbers are up 22.5 percent from the 207,128 filings in the fourth quarter 2006. And they don't include tens of thousands more now-vacant properties that actually were lost to foreclosure during that same period. Those REO, or bank-owned, real estate filings totaled 110,791 in the first quarter alone, says ForeclosureS.com.

FREDDIE MAC, FANNIE SEEK TO EASE SUBPRIME PROBLEM: They said they expect to buy tens of billions of dollars of newly created subprime mortgage loans over the next few years to help prop up the roughly $1.3 trillion subprime market as lenders tighten their credit standards or flee altogether, according to the Wall Street Journal. Fannie and Freddie buy loans from lenders and package them into securities held in their own portfolios or sold to investors world-wide. Until now, the companies have bought only AAA-rated portions of subprime-mortgage securities packaged by Wall Street firms. But Freddie Mac plans to buy over several years $20 billion of subprime loans to be held on its portfolio, and Fannie Mae said that about 1.5 million homeowners who face potential "payment shocks" as rates on their mortgages adjust may be eligible for refinance loans that Fannie could buy. A Fannie spokesman said his company already is buying subprime loans under a recently announced plan to help troubled borrowers.

INVESTORS STAND TO LOSE A BUNDLE: A report from asset-backed-securities analysts at Lehman Brothers estimated that nearly $19 billion in losses are sitting in loan pools assembled in 2005, 2006 and early 2007, says the New York Times. Most of these losses are in collateralized debt obligations - securities that invested aggressively in mortgages in recent years and that pension funds, insurance companies and hedge funds all hold. Lehman estimates losses of $1.5 billion on 2005 issues, $11.4 billion on those from 2006 and an additional $5.9 billion from the 2007 vintage, including those still in the pipeline. The total of $18.8 billion accounts for about 5.5 percent of all mortgages issued and outstanding in the period. The figures are estimates, not actual losses, because accounting rules allow pension funds and insurance companies that hold these securities to mark their stakes at the prices they paid for them, not at the current market levels. The losses are there, but they remain unrecorded. Only when these investors sell their holdings do they have to book the loss they incur.

LOAN APPLICATIONS ARE INCREASING: For the week ended April 20, volume grew by 3.6 percent on a seasonally adjusted basis from one week earlier, says the Mortgage Bankers Association. On an unadjusted basis, the increase was 4.1 percent compared with the previous week and 18.2 percent compared with the same week one year earlier. Refinancings went up 3.6 percent from the previous week, while purchase application rose by 3.7 percent.

The Big Apple

BILL WOULD REQUIRE REASONS FOR CO-OP REJECTION: Nearly two-thirds of the members of the City Council are co-sponsoring a measure to shed a little light on the shadowy process by which co-op boards decide which apartment buyers to accept and which to reject, says the New York Times. What they want is for co-op boards to be required to give their reasons for rejecting an applicant, and to do it in writing, within five days of rejection. But the proposal is stirring up opposition from groups such as the Real Estate Board of New York and the Council of New York Cooperatives and Condominiums. Co-op groups say most rejections are based on applicants' finances. Like any homeowner or landlord, boards cannot legally discriminate on the basis of race, religion, family status and 11 other protected categories; persons who suspect that they have been discriminated against can complain to the city's Commission on Human Rights. Under the bill, a co-op board would have to describe its reasons in detail and reveal the source of any negative information it had used. It also would have to say how many applications it received and rejected in the previous three years. If it failed to turn over the information, or do it on time, it could be fined thousands of dollars.

IT'S THE BIGGEST BUILDING BOOM IN DECADES: New York City is experiencing its biggest housing building boom in 30 years, according to analysis from city Comptroller Bill Thompson, says the New York Post. Officials issued Officials issued building permits for 62,526 residential units in 2005 and 2006, the biggest two-year total since 1971 and 1972 (not long before the housing market tanked as the city faced a financial crisis). According to Economic Notes, Thompson's quarterly publication, even though the number of permits dropped 14 percent in the fourth quarter of 2006 from the fourth quarter of 2005, permit issuance remains high in 2007. Thompson also noted that the city added 62,200 payroll jobs last year.

SHOCKING, SHOCKING NEWS ABOUT THE LUXURY MARKET: Depending on how you look at it, New York is already the No. 1 state for luxury homes, thanks to Manhattan's generous supply, Business Week reports. Of the 1,000 most expensive homes on the market right now, New York has the most of any state, with 240 homes equaling $4.5 billion in value, according to Unique Homes magazine. Florida has 234 of the country's most expensive homes, which range in price from $10 million to $155 million, and California has 205. "If you were to take all the luxury properties in San Francisco and L.A., it wouldn't match up with Manhattan," says Nick Antonicello, Unique Homes' director of sales. Can anything topple the luxury-home super states? More than anything else, high-end home markets are linked inexorably with the stock market's performance. Lately, investors have been nervous that still-sluggish home values will further weaken the troubled subprime mortgage market, and vice versa. If the pressure on stocks is severe enough, Moody's Economy.com housing economist Celia Chen believes luxury home sales may not be a strong as many are predicting. "But I don't think it's going to change that much," she says.

GO SOUTH, YOUNG MEN: Oh, they already know that. According to the New York Times, men, mostly between ages 25 and 44, have accounted for more than three-fourths of the population increase in Lower Manhattan since 2000. As a result, according to a special census calculation, the sex ratio there increased to 126 men per 100 women in 2005 from 101 men per 100 women in 2000. In the rest of Manhattan, and in the city overall, there were only 90 men for every 100 women. "For a normal, noninstitutional setting," said A. Peter Lobo, deputy director of the City Planning Department's population division, "I would say it is among the highest sex ratios that you would see." The number of residents in the neighborhoods studied by the city demographers surged 26 percent, to 43,650 in 2005 compared with 34,698 in 2000, according to the Census Bureau. The city demographers who conducted the research said that as a result of a 46 percent surge in men 25 to 44 years old, that category's share of the downtown population grew to 51 percent in 2005 from 44 percent in 2000. They found disproportionate numbers of white, Asian and foreign-born residents. People living downtown also were more likely than other Manhattanites to have roommates who were not family members. The median household income, which jumped 20 percent from 2000 to 2005, was $98,000 - nearly double the figure for the rest of the borough.

Home and Hearth

IT'S TIME TO BE GOOD TO YOUR POTTED PLANTS: Replace last year's soil in containers with fresh potting soil, but what to do with the old dirt is a question that is perhaps best left unanswered. Fresh, sterile soil mixes will give young roots better growing conditions and minimize problems with pests and diseases. Do make sure newly planted pots drain freely, and leave two inches between the soil and the pot's top for watering.

WATCH OUT FOR FIREPLUGS: Sixty-nine million American households have dogs, says the obviously unbiased American Pet Products Manufacturers Association, notes Realtor magazine. Because three-quarters of these households view their pet as a child or family member, "it would never enter a renter's [or condo buyer's] mind to move without their dogs, cats, or birds," says Karen Okura, manager of behavior and training for the Anti-Cruelty Society of Chicago. Although one-third of renters responding to a recent Apartments.com survey described finding a rental that allowed pets "very difficult," 84 percent of respondents said they currently live in a property that allowed pets. Eighty-four percent of surveyed renters own pets. How many have pets in violation of house rules is not disclosed.

INSURANCE

RECENT FLOODING IS A REMINDER TO CHECK INSURANCE: The self-interested, but correct, Insurance Information Institute says you should annually review your risk to be sure your insurance is up to date. You need to ask: Do I have enough insurance to rebuild my home? Do I have enough insurance to replace all of my possessions? Do I have enough insurance to protect my assets? Another question, raised by the Wall Street Journal: Do I need sewer-backup insurance? As flood waters and runoff overwhelmed many sewer systems in New Jersey, New York, Massachusetts, Connecticut and elsewhere, sewage backed up in residents' bathrooms and basements. But some property owners there are learning that they aren't covered for backed-up sewage. Claims from backed-up sewage can run as high as $10,000-20,000 per incident, says the Insurance Information Institute. The problem is, most business and homeowner policies don't include coverage for sewer backups unless purchasers pay for a special rider, which costs an extra $40-50. Higher limits are available, and some high-end homeowner policies do include this coverage.

Out and About
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Alexander Slept Here

Depending on whom you ask, Hamilton Heights extends from 135th Street or 140th Street to 145th Street or 155th Street. According to the Landmarks Preservation Commission its western boundary is Amsterdam Avenue and it's eastern, St. Nicholas Avenue. Its center seems to be around 140th to 145th streets. However, you view it, Hamilton Heights is a neighborhood rich in history, diversity and architectural interest.

The development of Hamilton Heights by European farmers began when the Dutch West India Company offered land grants to 11 Frenchmen, four Walloons, four Danes, three Swedes, three Germans, and seven Dutchmen after founding Nieuw Amsterdam in 1625. In 1658, Dutch Governor Peter Stuyvesant established the Village of New Harlem, which includes the area now known as Hamilton Heights. In 1791, the Bloomingdale Road was extended to meet the Kingsbridge Road at present day West 147th Street and St. Nicholas Avenue, giving easier access to the area and attracting residents, who often created grand estates and country retreats.

The last remaining great house of this period is The Grange (1801-2), the 12-room country home of Alexander Hamilton, the nation's first Secretary of the Treasury. With a yellow clapboard exterior, the Federal-style house, designed by John McComb Jr., a co-designer or City Hall, is now a museum operated by the National Park Service but closed because of safety issues. Hamilton's 32-acre property extended from present day Hamilton Place on the west, to Hamilton Terrace on the east, and from West 140th to West 147th Streets.

According to the Hamilton Heights-West Harlem Community Preservation Organization, construction of the Croton Water Aqueduct in 1842 caused the area to begin to lose its rural character. The aqueduct ran along present day Amsterdam Avenue, bringing water to the city through iron pipes placed inside masonry channels. The partially buried and covered over aqueduct created a 10-foot high roadway that impeded drainage and obstructed views from the surrounding grand estates.

William H. De Forest and his son William De Forest, Jr. developed much of the land south of 145th Street in the 1870s and 1880s. Having purchased The Grange and surrounding property in several transactions, the elder De Forest donated the house to St. Luke's Church and had it moved to accommodate his development plans. An 1886 article in the Real Estate Record and Builders Guide noted that the development "will certainly have a strong distinctive character of its own, though bearing more resemblance to the suburbs of London than to anything in the vicinity of New York."

Built in styles such as Beaux-Arts, Queen Anne, Dutch and Romanesque Revival and in a rich palette of colors and materials, the rowhouses are among New York City's most beautiful. The work of many notable architects, including Neville and Bagge, George Pelham and William Mowbray, is represented there.

Early residents of these houses were middle-class, professional people and their families, native-born or immigrants from Germany, Ireland or Italy. Norman Rockwell lived with his parents from age three to seven at 789 St. Nicholas Ave. Oscar Hammerstein lived at 333 Edgecombe Ave. George Gershwin wrote his first hit song "Swanee" at his residence at 520 W. 144 St. in 1919. In the 1920s and 1930s, the section known as "Sugar Hill" included residents such as poet and novelist William Braithwaite, pioneering physician May Chinn, muralist Aaron Douglas, W.E.B. DuBois, Thurgood Marshall, Paul Robeson, Count Basie and Kenneth Clark.

Neighborhoods invariably go through cycles, and Hamilton Heights slipped into a new one in the1950s and 1960s. In recent years, though, many of the rowhouses have undergone renovation and restoration, and a diverse population has been bringing palpable energy to the streets. In 1968, Arthur Mitchell established the Dance Theatre of Harlem, then finding a permanent home at 466 West 152nd Street in a renovated former garage. Other arts organizations that have had an impact upon the revitalization of the neighborhood include the Harlem School of the Arts at 645 St. Nicholas Avenue and the Children's Art Carnival at 62 Hamilton Terrace. Hamilton Heights also is the home of the City College of New York.

Could there be three more different homes than those that inspired the foregoing history. Consider these:

• A 1906 four-story Beaux-Arts rowhouse that retains its private "butler's" staircase has six bedrooms, four and a half baths, two kitchens, eight fireplaces (none of them working), a 70-foot-long grant entrance, a garden and a deck. The formal dining room boasts period moldings, and the big kitchen sensitively combines a vintage stove and cabinets with modern "necessities" such as a Bosch dishwasher. Still there is work yet to be done - dealing with pealing wall coverings and stairs that sometimes shudder under weight. It is listed at $2.6 million.
• Across the street, the owner of another property has spent her 30 years faithfully restoring her dwelling to much of its original character, even painstakingly scraping off vinyl tiles throughout to reveal lovely hardwood floors. Designed by Neville and Bagge, the 4,485-sf Beaux-Arts rowhouse shared with tenants who are students has within its four stories a master bedroom with ornate "bachelor closet" leading through a pocket door to "madam's bedroom" and an apparently original marble bath, five other bedrooms, three other baths, skylights and an oculus. On the parlor floor, which has a dining room, living room and, of course, parlor with gallery, the main kitchen was modernized a while ago and needs to be improved. But that's a cavil in a house that has seeming acres of mahogany and oak details, wonderful proportions, separate service entrance, gas-burning fireplaces on each floor, original glass pocket doors, mantles dripping with old plaster ornamentation, and status as a legal two-family residence. Price: $2.7 million.
• The third rowhouse is a four-story, two-family property with four bedrooms, four and a half baths and 3,840 square feet. In the Romanesque Revival style, this house underwent a gut renovation that opted for total modernity. The eye-popping new center-island kitchen, which occupies about half of the ground floor and opens to a rear garden with a tranquil fountain, was installed at obviously great expense. The aesthetic of the entire residence is beyond reproach - a master suite with dressing room and custom mahogany closets, spa with steam shower and whirlpool, fireplace and chandelier. The cellar is now an entertainment room with flat-screen television, surround sound, marble floor and fabric upholstered walls. Even the tenant's unit has hardwood flooring and marble fireplaces on each of its two floors. The asking price is $2.299 million.
  

Each of these properties is memorable in its own way. Even more compelling are the prices for which they are listed. Only 30 or 40 blocks south, on the Upper West Side, townhouses of such quality would probably fetch at least twice what is sought for them. But such is the price of convenience and the cost of perceptions about different neighborhoods.

Seen since the last Realty Digest, following is a small sample of some other properties being offered by various brokers:

• * On the Upper East Side, a beautifully renovated 967-sf one-bedroom co-op with a 400-sf terrace that has protected views from the twelfth floor. In an undistinguished post-war building, the apartment has a lovely high-end eat-in kitchen, cherry wood floors and a handsome bath. At $929,000 with monthly maintenance of $1,704, this unit is priced right.
• In Clinton just west of Times Square, a gleaming white one-bedroom condo with breathtaking views through floor-to-ceiling windows toward the Statue of Liberty and the Meadowlands. The 800-sf apartment offers limestone-tiled bath, washer/dryer hook-up, walk-in closet the size of a small room and a handsome kitchen. One reservation about the place is that visitors walk through the front door virtually into that kitchen, but the newly completed high-rise affords numerous amenities that may well compensate for that relatively minor drawback. Among the amenities: a garage, complimentary hot breakfast in a lounge every day, full-size fitness center, enclosed pool, private screening room, business center and a first-rate concierge service. However, the asking price is discouraging: $1.249 million with $700 in monthly common charges. Maybe that's why the unit is also for rent.
• An ordinary one-bedroom apartment on a two-way street on the Upper West Side a block and a half from Central Park and an express subway stop. The pre-war unit has a somewhat improved kitchen, good closet space, lots of light, a renovated, but ugly, bath and an extra windowless room that has been carved out of the formerly eat-in kitchen. It is listed at $689,000, which seems to be pretty much on target.
• In a Greenwich Village post-war building, a gut renovated two-bedroom apartment with an office or third windowed bedroom created from a dining area. This condo has been re-done well with two stylish baths, top-of-the-line spacious kitchen and good light, even from the second floor fronting a street corrupted by constant sirens. The unit seems bigger than its 1,350 square feet, but the $2.3 million asking price is far from modest. The common charges are $785 a month.
• An Upper West Side pre-war co-op a block from an express subway stop and Riverside Park with one bedroom, old bath, a narrow outdated kitchen, just two closets, essential City Quiet windows and a southern exposure from the second floor. This 700-sf apartment in a 1927 doorman building is offered at a reasonable $547,500 with $938 in monthly maintenance
• * In a prestige Upper East Side Building that once was home to Shearsons and DuPonts, a 2,000-sf wraparound terrace listed at $6.995 million; all right, it's more than terrace and its views to the south, but they are obviously the chief justification for the price. This penthouse also includes a gorgeous living room, large updated kitchen (with worn cabinets), formal dining room or library and a maid's room on the main floor. Up a spiral staircase is the lone other bedroom, a master (only 13' x 13.5') and a cramped bath, both of which have been all too obviously added to the roof. It's not a lot of apartment for quite a lot of money. Maintenance is $5,335 monthly.
• * On the Upper West Side, a centrally located one-bedroom condo six flights, plus stoop, from the street in a brownstone. Okay, it has been decently renovated and features a working fireplace, customized walk-in closet, sound-deadening windows facing south. But the bedroom is so narrow that there is no room for a single nightstand between the bed and a wall. Another questionable feature: The bath is conveniently off the kitchen. The place is listed for $585,000 with $274 in common charges, a price that only the excessively fit would find acceptable. Perhaps.
• A new three-bedroom loft north of Madison Square Park. With a home office, 11-foot ceilings, stunning open kitchen with all the bells and whistles (even a pantry already stocked by Geoffrey Zakarian of Country Kitchens), three stylish full baths, exceptional finishes, numerous windows that admit serious light, this 2,291-sf condo on the ninth floor offers excellent flow in a neighborhood of mainly office buildings that is close to Chelsea. The apartment above it went to contract 18 months ago and recently was sold for $3.050 million. This place went to contract two months ago for a bit below the asking price of $3.3 million, with $1,670 in common charges, but the buyer backed out after she decided that the Upper East Side suited her better.
• * On the 22nd floor of a Greenwich Village building with gorgeous views south and west of Washington Square Park and beyond. This three- or four-bedroom post-war co-op with two and a half bath and 17 windows has been totally renovated, and thoughtfully, with a children's "wing" distant from the expansive master bath and living area, now with an up-to-date high-end open kitchen. Given the rarity of such a spacious apartment in such a prime location in a desired building with such arresting vistas, the price of $2.995 million, plus maintenance of $2,324, is appropriate.
• A small studio three flights up in an Upper East Side building with halls redolent of pipe smoke. Decently renovated and full of sun, this co-op has an up-to-date kitchen in an area so tight that the oven needs to be loaded from the side (because the door almost hits the fridge); also there are no drawers. But there is a large custom closet that tends to dwarf the room. At $319,000 with maintenance of $555 a month, this place seems slightly overpriced.
  

Check It Out
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Using the Web to Find Information
by Amy Hoak
From MarketWatch/Dow-Jones

Steve Roddel was walking through a house in Fort Wayne, Ind., when he wondered aloud if there were any sex offenders living in the neighborhood.

Instead of commenting on her own, the real estate agent showing the home quickly pulled out her cell phone, connected to its Web browser and brought up Family Watchdog, a national sex-offender registry Web site. Little did she know that she was standing with the site's founder and CEO. The site: familywatchdog.us.

A real estate agent can be a wealth of information about a house. So a home buyer who asks what crime is like in the neighborhood might be surprised when the agent defers the question because of legal Fair Housing restrictions, directing a client to the Web or the local police instead.

"The Realtor will be the one that has the most contact from beginning to end. Because of that accessibility, the consumer feels that they can give them all the information that they need," said Alex Chaparro, president of the Chicago Association of Realtors.

But there are some pieces of information that an agent simply can't speak about due to those fair housing laws, including demographic statistics. And they often prefer to leave some characteristics, such as the quality of the school district or crime stats, answered by other sources.

The conservative approach is often taken in order to avoid a lawsuit popping up in response to frank neighborhood talk, said Ralph Holmen, associate general counsel of the National Association of Realtors. Agents are forbidden from giving any information that could be considered "steering," directing a client toward or away from a particular property in a discriminatory manner.

And some of this information will make or break a decision to buy. For example, the quality of schools, which can be viewed as a proxy for "good" or "bad" neighborhoods, has long been of importance to home-buying families. Luckily, there is a variety of sources buyers can use to get at the information on their own.

Checking on the Schools

Unless a realty agent has hard data at his or her fingertips, the agent may decline to answer school-district questions. And even if he or she is willing to share some information, a home buyer might want to do some fact-finding - or maybe even complete the research before deciding which neighborhoods to consider in the first place.

A national database of school demographic information can be found on the National Center for Education Statistics Web site. Click on the "School, College and Library Search" tab at the top in order to view data including a particular school's student-to-teacher ratio or enrollment by race and ethnicity. See: nces.ed.gov/index.asp

For a snapshot of academic performance and to compare schools, a prospective homeowner might browse the School Matters Web site, a service of Standard & Poor's. See: schoolmatters.com. Another site, Great Schools, offers similar tools: greatschools.net. "People who are really attracted to (School Matters) are people who are moving," said Susan Shafer, director of marketing and communications for Standard & Poor's School Evaluation Services. "It's a good starting point," she said, but it still isn't a substitute for an actual tour.

Of course, some districts and state departments also post information online. It might be worthwhile to look at an individual school district's site, especially for large systems. You can find local sources of information at: serviceyoucantrust.com/local.

Crime Matters

Roddel's Family Watchdog Web site allows users to enter a street address, which pulls up a map of the area that plots out where sex offenders live. Click on one of the squares that indicate an offender's home, and often an address and a photo are available to view. Information is updated at least once a day, and is culled from state registries, Roddel said.

Judging the Environment

Another issue that comes up occasionally in a housing search is the environmental characteristics of a neighborhood, Holmen said. The association typically advises members not to make judgment calls on the health of an area, and to leave that to experts.

The U.S. Environmental Protection Agency Web site has a tool that allows visitors to search a community by ZIP code for environmental facts about the area, including pollution statistics, the location of hazardous waste sites and information about the area's watershed: epa.gov/epahome/commsearch.htm.

Another site dedicated to helping the public retrieve information about local environmental health is Scorecard.org, which generates a pollution report card at the county level, giving information on such topics as air and water quality: scorecard.org.

Learning the Demographics

If agents don't shy away from any other question, they most likely will when it comes to those regarding demographics - and for good reason. Fair housing laws forbid issues of race or ethnicity to be a consideration in the minds of real estate agents, who mustn't steer a client toward or away from a particular area based on the neighborhood's makeup.
When Anne Kennedy, a Realtor in Austin, Texas, turns down a question about neighborhood demographics, clients "completely understand," she said. She suggests searching the Census Web site for statistics about an area's demographics; the Census' Quick Facts page breaks down the information easily, by city and county: quickfacts.census.gov/qfd/index.html.

"That would also show general socioeconomic data, too," she said.

Walking the Neighborhood

Finally, even though there's a wealth of information online, there are some questions best answered by walking around the area and making a note of observations.
For example, in Chicago, sometimes a client will ask what parking is like on a particular block, Chaparro said. If the showing is at 10 a.m. in the morning, when many cars are off the street because their owners are at work, he doesn't have an answer to give them.

Several trips past the home at various points of the day - noting whether there are special parking restrictions marked on the street - will probably provide a more informed answer.

New Listings
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Some of Manhattan's Latest Listings

Below are just a few of the newest listings of condominiums and cooperatives put on the market by various brokers.

125 W 96th St - 3K, New York, NY, 10025
$549000
Bedroom(s): 1
Bathroom(s): 1
In the listing agent's inimitable words: "New to Market ****** New to Market *** Prewar Building in a Prime Upper West Side location offers a Huge 1 Bedroom Home. Prewar details include a Gracious Arched Enty into a Sunken Living Room, a Large, Separate Foyer/Dining Area, a Big Windowed Galley Kitchen and a Windowed Bathroom. Original Inlaid Oak Floors complete this lovely Home. Building Amenities include a Live-In Super, Laundry facilities and Bike Storage. A Perfect Location, near two Parks, Great Shopping and convenient to all Transportation."
Listing #: 528573J

300 E 54th St - 3C, NEW YORK, NY, 10022
$555000
Bedroom(s): 1
Bathroom(s): 1
In the listing agent's inimitable words: "A lovely one bedroom one bath home in a fabulous full service coop with great amenities & centrally located near all transportation, shopping, and wonderful restaurants. The apartment features a large living room/dining, bedroom, renovated bath, kitchen, wood floors and 6 closets, all in excellent condition facing east and extremely quiet. The building features a full time doorman, concierge, pool, gym, garage, roof deck, storage, bike room & laundry room. Truly a gem and priced to sell."
Listing #: 866130

356 W 23rd St - 2A, NEW YORK, NY, 10011
$595000
Bedroom(s): 1
Bathroom(s): 1
Square Feet: 650 [198 SqMt]
In the listing agent's inimitable words: "This amazing one bedroom one bathroom home is in a lovely prewar brownstone in Chelsea. The spacious living room with approximately eleven foot high ceilings has a wonderful charm. The large windows let in great light throughout the day and have open North facing views. The kitchen has been beautifully renovated with stainless steel appliances. There is large lofted space in the master closet perfect for all your storage needs. The fireplace, exposed brick and hardwood floors give this home a special warmth. This prewar cooperative brownstone is located in a desirable part of Chelsea. This home is conveniently located near great restaurants, shopping, Chesea Piers, the Hudson River, and transportation."
Listing #: 866079

345 Riverside Dr - 4C, New York, NY, 10025
$669000
Bedroom(s): 1
Bathroom(s): 1
In the listing agent's inimitable words: "New to Market! One Bedroom With Home Office/Nursery - 1st showing Sunday, April 29, 2-3:30pm. Watch the seasons change in Riverside Park with direct views from the living room and bedroom of this fantastic home! Rarely will you find a functional floorplan that offers a large living/dining room, spacious bedroom with two exposures, separate home office/nursery, windowed kitchen with breakfast bar, great closets and all with fabulous style! Design details such as crown moldings, new solid wood doors, French doors, and beautiful built-in cabinets in the kitchen and foyer have been added to make this unique home truly stand above the rest. The building, located on the beautiful corner of Riverside Drive and West 107th Street, is pet-friendly and features a garage, laundry facility, storage bins for rent, bicycle room, live-in super, video security and a block association security guard. Don't miss this opportunity to live in one of the city's hottest neighborhoods with great shopping, restaurants and transportation at your doorstep. Call today for an appointment to see this one-of-a-kind treasure!"
Listing #: 865392

21 E 22nd St - 10I, NEW YORK, NY, 10010
$799000
Bedroom(s): 1
Bathroom(s): 1
Square Feet: 800 [244 SqMt]
In the listing agent's inimitable words: "10th fl 1br/1bth with 113" ceilings & 73" south facing windows. Spruce up this unique space&create your ideal home w possibilities to reconfigure the spce w a loft.Bldg has roofdeck,laundry on every fl &pets are welcome."
Listing #: 1021264J

120 Riverside Blvd - 6J, NEW YORK, NY, 10069
$879000
Bedroom(s): 1
Bathroom(s): 1
Square Feet: 798 [243 SqMt]
In the listing agent's inimitable words: "798 Square foot one bedroom/one bathroom!! Lots of light and windows, oversized living room and, gorgeous hardwood floors, custom Euro-Style kitchen with granite counters and stainless appliances, marble bath, washer/dryer and tons of closet space! Located in a full service luxury building with health club, pool, children's playroom and garage."
Listing #: 865292

2605 Frederick Douglass Blvd - 5A, NEW YORK, NY, 10030
$985000
Bedroom(s): 3
Bathroom(s): 2.5
Square Feet: 1600 [488 SqMt]
In the listing agent's inimitable words: "Set amidst a private enclave of historically protected Brownstone blocks- Striver's Row is the West Village...uptown. These modernist, minimalist super-chic half floor loft homes are Zen defined. Gracious, open, fluid floorplans with the finest most "forward thinking" finishes. Downtown luxury finishes abound including loft height ceilings, open windowed hand crafted wenge chefs kitchens with seamless slab counters and Viking/Sub-zero/Miele appliances. These fully appointed loft homes are to be delivered each with their own washer/dryers and designer recessed halogen directional pin lighting- perfect for showcasing art in the tremendous flowing gallery halls that grace each unit. Each unit has its own private Sky Deck perfect for relaxing with morning coffee. The windowed spa baths are simply stunning and showcase every Duravit and Waterworks bell and whistle. Choose from sprawling, sun blasted 2 and 3 bedroom floorplans including a spectacular Penthouse units. The project has been designed with a nod to the worlds finest boutique hotels. Do nothing except enjoy it all- in the heart of it all. Have your expectations exceeded- One Strivers Row is the benchmark of luxury!"
Listing #: 866602

225 Fifth Ave - 6T, NEW YORK, NY, 10010
$1050000
Bedroom(s): 1
Bathroom(s): 1
Square Feet: 706 [215 SqMt]
In the listing agent's inimitable words: "Are you a young professional that has a passion for luxurious living? Make your dream a reality with this stylish one-bedroom apartment located in the elegantly converted Grand Madison building. No details have been left out this impeccably designed property boasts an endless list of features. Whether its the old-world charm of the 10-ft ceilings, oversized windows, and exterior architectural detail or the modern sleek finishes of the chefs kitchen with Viking stove, Poggenphol cabinetry, bluestone counter tops, a gorgeous marble bath this apartment will leave you breathless. It also features a washer and dryer hookup, electronic climate control in each room, and three large deep closets. Building amenities include a health club, 24-hour attended lobby, concierge service, and an onsite resident manager. Situated across the street from Madison Square Park, in the heart of the Flatiron district, youll have access to an abundance of shopping, dining, and transportat Apartment Features: East exposure Building Features: Courtyard"
Listing #: 987881J

14 E 92nd St - 4A, NEW YORK, NY, 10128
$1150000
Bedroom(s): 2
Bathroom(s): 2
In the listing agent's inimitable words: "Paris in New York Stunning 4-room floor-thru in pre-war townhouse has 2 baths and 2 WBFs. With 9.5 ceilings, the living room features high arched windows overlooking a beautiful townhouse street. The master bedroom and a separate study/guest room face south overlooking trees and the gardens of Sacred Heart. This quiet, serene gem is one of just 4 units in an elegant, beautifully maintained walk up townhouse on one of the best blocks in Carnegie Hill. Just off Fifth Avenue near the Central Park Reservoir, major museums, and the charming shops & restaurants that make Carnegie Hill one of the most delightful residential neighborhoods in New York."
Listing #: 33976J

315 W 23rd St - 2D, NEW YORK, NY, 10011
$1195000
Bedroom(s): 2
Bathroom(s): 2
Square Feet: 1180 [360 SqMt]
In the listing agent's inimitable words: "CHELSEA'S DARLING!!! 1st Offering at the Open House, 4/29, 2-4PM. This lovely 2 Bedroom, 2 Renovated Bathroom home has excellent south light, hardwood floors, lots of closets, and open kitchen. It is located in the PW Broadmoor Coop in the heart of Chelsea. A Best Value for stellar financials and low maintenance. The Coop also features a newly renovated laundry room, dual level roof garden for owners' enjoyment, and bike room. Live here and be close to Everything including fine restaurants, designer/couture shopping and local transportation."
Listing #: 865011

1725 York Ave - 12B, NEW YORK, NY, 10128
$1399000
Bedroom(s): 2
Bathroom(s): 2
In the listing agent's inimitable words: "Tripple Mint. River views. Dining room turned into library/3rd bedroom. All new windows, new heating and a/c units."
Listing #: 865071

142 E 16th St - 3CD, NEW YORK, NY, 10003
$1425000
Bedroom(s): 2
Bathroom(s): 2
Square Feet: 1600 [488 SqMt]
In the listing agent's inimitable words: "This very spacious and gracious convertible three bedroom apartment is in excellent conditon. It features a new open/galley kitchen with wine refrigerator, top appliances and granite counter tops. It also has two marble bathrooms in excellent conditioin. The L shaped living/dining room features a wall of windows and built in cabinets. It is an ideal apartment for a family or to entertain friends. All together there are 9 deep closets, most with California-style shelving. Other Features included: Easter Exposure Central Air/Heat Garage in Building Central Laundry room Storage available Bike room."
Listing #: 866825

255 W 90th St - 2C, NEW YORK, NY, 10024
$1655000
Bedroom(s): 3
Bathroom(s): 2
Square Feet: 1450 [442 SqMt]
In the listing agent's inimitable words: "Find your home in the Cornwall! Experience the grace and detail of a 1910 architectural gem in this Classic 6 room, 3 bedroom and 2 bath beauty. The period details surround you in every part of this home. There are working pocket doors of walnut between the Living Room and the Dining Room. The baths have original stained glass windows and there are well preserved parquet floors throughout. The high ceilings and paneling reflect a bygone era of comfortable living, while the expansive kitchen with granite countertops and slate floor give you room for modern day family living! The full service building features a fabulous roof deck."
Listing #: 865755

127 Madison Ave - 4, NEW YORK, NY, 10016
$1685000
Bedroom(s): 2
Bathroom(s): 2
Square Feet: 1577 [481 SqMt]
In the listing agent's inimitable words: "Just north of Madison Square Park, 127 Madison is a new boutique condominium designed by SHoP Architects. Each floor-through two bedroom loft features dramatic cantilevered windows, walnut floors, two luxurious bathrooms, and gleaming white-on-white lacquered custom kitchens by Schiffini with carrara marble counters and top appliances."
Listing #: 1021395J

25 E 83rd St - 7A, NEW YORK, NY, 10028
$1750000
Bedroom(s): 3
Bathroom(s): 2
Square Feet: 1500 [457 SqMt]
In the listing agent's inimitable words: "Steps from Central Park and Museum Mile, this Pre-War, architecturally converted 3 bedroom home has a smart layout with room for all. Wonderful light in every room, grand entry foyer with limestone floor and hardwood floors throughout, this fantastic Madison Avenue location on beautiful tree-lined street is one you hope to find. This intimate building offers a full-time doorman and laundry. Maintenance includes utilities. Apartment Features: East exposure, South exposure, West exposure, Full city view, Prewar detail, Floors - hardwood, Light - excellent, Great closet space, Dishwasher Building Features: Central laundry room, Water, Electric"
Listing #: 950673J

39 Gramercy Park North - 12BC, NEW YORK, NY, 10011
$1950000
Bedroom(s): 4
Bathroom(s): 2.5
In the listing agent's inimitable words: "This is two apartments in estate condition which need to be be combined, although they are currently connected through a powder room. The larger is 2 bedrooms/2 bathrooms, living room, dining area and kitchen, plus a terrace. There are views of Grammercy Park from the the southern and western exposures on a high floor. The smaller is 1 bedroom/powder room and living room, facing West. The kitchen has been removed to create a walk-in closet. There is potential to create a spacious 3-4 bedroom home in a full-service postwar coop, with a key to the park held at the door. Apartment Features: South exposure, West exposure, Terrace, Full city view, Partial park view Building Features: Garden, Private storage, Central laundry room, Cable TV ready, Water, Gas"
Listing #: 866879

1619 Third Ave - 7JK, NEW YORK, NY, 10128
$2100000
Bedroom(s): 4
Bathroom(s): 3
Square Feet: 2100 [640 SqMt]
In the listing agent's inimitable words: "These two apartments are ready to be combined to create your amazing home, with 4 bedrooms, sunfilled, as the exposures are onto the East and the South...The views from the oversized windows are extremely serene and peaceful, overlooking a private park and the city without obstruction... This residence is located in a full-service building, right on Third Avenue, with Health-Club and pool, garage, valet service, bike and storage room, central laundry room and outdoor terraces. The c/c include ALL utilities. You will be steps to all transportation, services, stores and best restaurants... Apartment Features: East exposure, South exposure, Full city view, Full park view, Full skyline view, Floors - hardwood, Floors - parquet, Light - excellent, Windows - oversized, Renovated bathroom, Storage space, Walk in closets, Great closet space, Dishwasher Building Features: Courtyard, Roof deck, Terrace, Water, Gas"
Listing #: 865524

252 Seventh Ave - PHR, NEW YORK, NY, 10001
$3550000
Bedroom(s): 3
Bathroom(s): 3
Square Feet: 2062 [628 SqMt]
In the listing agent's inimitable words: "Large bright penthouse in one of Manhattan s most desirable full service buildings, penthouse R is a well designed duplex with the large living area, kitchen, full bath and second bedroom on the 1st floor. The master bedroom with on suite bath, third bedroom/study, third full bath and 31x 32 terrace are on the top floor, with uninterrupted views south, east and west to the Hudson River. The apartment boasts 11ft ceilings, 3 sky lights, hardwood flooring, washer/dryer, separate storage, extensive closet space and a large quiet master bedroom. The terrace is planted and has been equipped with a built in mains gas barbeque, oven and drinks refrigerator, all day sunshine and amazing sunsets. The building has concierge, full time doorman, full service garage, garden, health club, roof deck and an impressive rotunda lobby."
Listing #: 415026J

To see photos, more information and scores of other listings by brokers throughout New York City and Long Island, please visit our website at http://www.ServiceYouCanTrust.com, then click on the appropriate area. To view details of a particular property listed above you will need to note the address.

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