PropertyShark.com
Foreclosure Storm Subsides in November; But What of December?
There were 258 first-time home foreclosure auctions scheduled in New York City in November, according to the latest foreclosure report released today by PropertyShark. That is a significant decline from the monthly foreclosure totals of recent months, when there were as many as 397.
In fact, the November tally is identical to the number of foreclosures from last November, and represents the lowest number since December 2007, when there were 129.
So is this the end of New York’s unfortunate foreclosure boom?
Not quite, and it actually might be getting much, much worse. read more »
Finding Silver Lining in City Foreclosure Numbers
Los Angeles had 17 times New York City's number of new residential foreclosures in May, according to a new report from research site PropertyShark. The nation's second-largest city had 5,308 new foreclosures in May, compared with 313 in New York.
The report defined a new foreclosure as a property scheduled for a foreclosure auction during the month.
The L.A. comparison's the good news. And so is the fact that the number of new foreclosures in New York dropped in May for the second consecutive month, falling 4.86 percent from April.
However! Compared with last spring, foreclosures in the city jumped. The May 2008 number represents a nearly 50 percent increase from the number in May 2007. As the chart above shows, there's been a general increase in new foreclosures in 2008, especially in Queens and Staten Island. read more »
Smaller Properties Dominate Apartment Building Sales, Report Says
The trading of smaller apartment buildings in Brooklyn and Queens stood out in an otherwise lackluster first quarter for New York City apartment building sales, according to a new report from research site PropertyShark.
The report tracked apartment buildings that are at least two-family, as well as mixed-use buildings.
The citywide numbers: read more »
Possible Rent Hikes For Knitting Factory
The Tribeca music club has occuppied 11,000 square feet at 74 Leonard Street since 1994 at below-market rents. Those feet, along with the rest of 74 Leonard, is now on the sales market, according to brokerage Besen & Associates. Will a new landlord jack up the Knitting Factory's rents to at least market-rate, possibly sending the club the way of CBGB and the Bottom Line? (The building was last sold in early 1994, according to PropertyShark.com, during a much different, largely less expensive era for Tribeca.)
Stay tuned. The Real Estate has calls and emails out to the club and to Besen.
Full release on the marketing of 74 Leonard after the jump.
UPDATE: The Real Deal reports that the Knitting Factory has a lease at 74 Leonard running into 2009. UPDATE 2: Adelaide Polsinelli, a senior executive broker at Besen, emailed The Real Estate on Monday afternoon:[A] new owner may want to keep them at a higher rent. They are not going the way of CBGB!
So there: We will have the Knitting Factor at 74 Leonard until at least 2009. Maybe longer. read more »
- Tom AcitelliEast Harlem Building Collapses (and A Fire Injures Two Near Lincoln Center)
Two adjoining buildings were evacuated. WCBS reports that the city's Department of Finance owns the building, but PropertyShark.com lists developer Vincent Garrow as the owner.
There are several train disruptions due to the collapse, including no 6 train service between the Third Avenue-138th Street Station and the 86th Street Station, and no 4 train service between the 125th Street Station and the Borough Hall Station.
UPDATE: The violent day uptown continues. An apartment building near Lincoln Center, at 42 West 65th Street, suffered a three-alarm fire. - John KoblinThe Shark Solves Co-Op Chaos
By the end of the day, that website will have incorporated "all co-op data from the New York City Department of Finance records." What does that mean? A whole lot of juicy numbers involving very juicy people. read more »
Two riviting PR paragraphs after the jump.
- Max Abelson
