New York City Real Estate Blog

375 Colesville Road; Binghamton , NY 13904

$64,900
2 beds 1 bath
900 sqft

 

Contraversies over the Brooklyn Bridge Park

The city and state are poised to transform a 1.3-mile stretch of derelict docks and warehouses in Brooklyn Heights into a ribbon of recreation. The 85-acre site, which offers breathtaking views of Manhattan, would include lawns, rolling hills, ball fields, bikeways, a marina, a restaurant, a hotel and, to the dismay of some neighborhood residents, three new luxury apartment towers ranging in height from 95 to 315 feet, along with parking.

The debate over the Brooklyn Bridge Park reprises controversies over the West Side of Manhattan and raises fundamental urban planning questions: When is a park not a park? And how far should government go in granting concessions to developers — in this case, allowing profitmaking housing on public land — to subsidize nonessential public services?

Both sides in the debate, which is also being played out in court, ascribe dark motives to their opponents.

Last week, the Sierra Club weighed in, declaring that “the park had been co-opted by the interests of real estate developers” and warning that “for the very first time, private housing, parking and what might also be a private marina” were being planned inside a park.

Debate Rages on Housing at Planned Brooklyn Park(NYT)

Investing in Binghamton, NY

Total population: 47,380 (Urban population: 47,339, Rural population: 41 (all nonfarm))
Houses: 23,971 (21,089 occupied: 9,067 owner occupied, 12,022 renter occupied)
Median price asked for vacant for-sale houses in 2000: $47,900
Median rent asked for vacant for-rent units in 2000: $370

Median gross rent in Binghamton, NY in 2000: $430

Median resident age: 36.7 years
Median household income: $25,665 (year 2000)
Median house value: $66,500 (year 2000

Nearest city with pop. 50,000+: Scranton, PA (50.7 miles , pop. 76,415).

Nearest city with pop. 200,000+: Rochester, NY (138.0 miles , pop. 219,773).

Nearest city with pop. 1,000,000+: Philadelphia, PA (154.8 miles , pop. 1,517,550).

Nearest cities: Binghamton, NY (0.0 miles ), Port Dickinson, NY (2.7 miles ), Johnson City, NY (3.4 miles ), Endwell, NY (7.9 miles ), Conklin, NY (8.8 miles ), Endicott, NY (9.8 miles ), Vestal, NY (9.9 miles ), Maine, NY (12.0 miles ).

Single-family new house construction building permits:

• 1999: 16 buildings, average cost: $120,300
• 2000: 8 buildings, average cost: $168,800
• 2001: 17 buildings, average cost: $181,600
• 2002: 20 buildings, average cost: $155,500
• 2004: 11 buildings, average cost: $195,900

http://www.cityofbinghamton.com/

$55,900 BINGHAMTON, NY
(Binghamton, NY)

3 BR, 1 BA, 1456 SQFT, MLS ID: #150775(Homes.com)

ONE-BEDROOM CO-OP-Trump World Tower

$1,795,000

A one-bedroom, two-bath condo. Douglas Benson, Brown Harris Stevens (212) 906-9200;

www.brownharrisstevens.com

COMMON CHARGE: $1,995 a month

PROS: This very tranquil 1,478-square-foot one-bedroom in the Trump World Tower has two marble baths, an L-shaped living/dining area and an efficient galley kitchen with white cabinetry and granite

Develop Don’t Destroy Brooklyn Group in Action

In the largest public demonstration so far by opponents of the Atlantic Yards project planned near Downtown Brooklyn, a crowd that may have exceeded 2,000 gathered at Grand Army Plaza yesterday in a rally condemning the project’s scale and what many called inadequate public comment.

The event was organized by Develop Don’t Destroy Brooklyn, a group whose advisory board includes Brooklyn residents active in film, music and literature. The actors Steve Buscemi and Rosie Perez, both Brooklyn residents and advisers to the group, appeared briefly on a makeshift stage in front of a sign that read “Brooklyn’s Neighborhoods Say No.”

“I’m not a politician or activist,” Mr. Buscemi told the crowd. He read a poem that he said he had written to protest the project, which included the line “I’ve played a lot of crazies, but this seems insane.”\

Crowd Gathers to Protest Size of Atlantic Yards Plan(NYT)

Same Reports, Different Views on Manhattan Real Estate

A sharp drop in the average price of Manhattan condominiums could revive concerns that the luxury condo boom, which has been seen around the five boroughs at an increasing rate since 2002, could result in a glut of apartments or developers rethinking their pricing expectations.

The second-quarter price drop versus last year is to be disclosed today when some of the city's largest firms release real estate statistics.

Much of that concern, according to some real estate analysts, is the byproduct of the 1980s, when thousands of new housing units hit the market as housing demand was softening. They say that an economic recession, rising inflation, high unemployment, and high mortgage rates led to serious housing price declines and an absorption rate of new units measured in years, not months. That cycle is now visible in other national housing markets - particularly those infiltrated by short-term investors - such as Miami and San Diego.

Real estate experts said yesterday that while demand for apartments in New York City is slowing and the supply of new apartments continues to grow, strong economic conditions will forestall a potential glut.

Condo Expectations May Be Rethought As Prices Plunge(NYSun)

JUST SOLD!

THE LATEST INFO ABOUT RECENT SALES - IN YOUR BACKYARD AND BEYOND

Manhattan BEEKMAN PLACE $2,500,000 351 E. 51st St. Three-bedroom, three-bath condo, 1,870 square feet, with mahogany floors, granite kitchen countertops and cherrywood cabinetry; Beekman Regent building features gym and parking. Common charges $1,246, taxes $334 (six-year tax abatement). Asking price $2,500,000, on market eight months.

JUST SOLD! (NYPost)

Feds boost NYC's terror funding

The federal government is reportedly boosting anti-terror funding for New York City area rail systems over last year's federal allotment.

The Department of Homeland Security announced Thursday that it's increasing transit security funding for the city and surrounding areas by more than $10 million or about 27 percent. This brings the total to $47 million for beefing up security on subways, the Long Island Rail Road, Metro North and systems in New Jersey and Connecticut.

Add to that another $5.5 million for buses and $1.3 million for ferries, and the city is actually getting a total of $53.8 million this year.

Feds Boost City's Transit Anti-Terror Funding(NY1)

Condominium prices Declined but overall Manhattan real estate prices were little changed during the last quarter

The reports showed that the number of apartments on the market rose and the number of sales fell during the second quarter of the year, a shift that suggests an increase in bargaining power for buyers rather than sellers.

But with the economy strong and apartments in demand, buyers so far have not been able to translate that market power into lower prices over all. According to one report, released by Prudential Douglas Elliman, average sales prices of Manhattan apartments were up to $1.39 million, an increase of 6.6 percent over the prices in the first quarter of this year and 5.2 percent above those in the same period a year ago.

Little Shift in Prices of Manhattan Apartments (NYT)

GNYRE: Todays Links

Williamburg View up Broadway(GowanusLounge)

The Brooklyn Blogosphere: How Big? How Diverse?(DopeOnthe Slope)

4th of July 2006 Extended Weekend(Matrix)

Flophouse 'Apartment Hotel' Riles Prospect Lefferts Gardens(Curbed)

Jade by Jagger 16 West 19th Street(TripleMint)

S.L.A.’s Daniel walks into Soho lions’ den(TheVillager)