Category: Co-ops

Built upon the lands of time: Part 3, 8.2% annual appreciation for 32 years

22 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Rental, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith After capital reinvetsment While the story reported in The New York Times (12 June 2015) of the Tower – Trump Plaza at 167 East 61st Street – Lease expiration imminent – has already had its Magus and its Fool, its land-sundered […]

Built upon the lands of time: Part 2, The Rule of Four-Sevenths

21 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith End of lease approaching In yesterday’s Part 1 chronicling the happy if expensive ending of a 32-year saga of a co-op that ‘forgot’ to buy the land underneath its apartments, reported in The New York Times (12 June 2015), we had met our Magus, Marc Cooper […]

Built upon the lands of time: Part 1, Land value = Property value

20 July, 2015 (10:00) | Apartments, Co-ops, Elevators, Housing, Land leases, Land value, Mobile homes, New York City, Rental, Reversionaries, Rule of four-sevenths, Urbanization, US News, Verticality | No comments

By: David A. Smith This post has a hero – and an unlikely one to be spotlighted in a story from The New York Times (12 June 2015) – an investment banker: Who was that unmasked man? Marc Cooper knew exactly what he was getting into in 2011 when he purchased three apartments at Trump […]

Month in Review, December 2014: Part 1, Hit pause on reality

4 February, 2015 (10:00) | Affordability, Bankruptcy, Casinos, Cemetery, Cities, Co-ops, Detroit, Development, Eminent domain, Environmental, Eurozone, Land use, Mitchell-Lama, New York, Privatization, Switzerland, US News, Vermont, Zoning |

By: David A. Smith Compared with all the generations that came before us, we today live in a world of unprecedented rate of change, both in dimensions – technology, medicine/ biology, war/conflict, and human society/ moral values – and in speed.  To survive and orient within this continuous shock of the new, we have learned […]

One man’s windfall is another man’s score: Part 11, “I think most people will tell you yes.”

16 December, 2014 (09:00) | Affordability, Affordable Housing, Co-ops, Democracy, Housing, Markets, Mitchell-Lama, New York City, Privatization, Urban renewal, Urbanization, US News, Zoning |

[Continued from yesterday’s Part 10 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, and Part 9.] By: David A. Smith As our survey of Southbridge Towers’ impending privatization reaches its conclusion, we can come back to the most basic question of all: 3.H. Whose […]