Category: Reversionaries

Month in Review, July 2015: Part 2, Over the future event horizon

17 August, 2015 (10:00) | AIG, Bankruptcy, Boston Redevelopment Authority, En viager, Homeownership, Housing, Land leases, Month in review, Policy, Reform, Reversionaries, Speculation, Takings, US News |

 [Continued from yesterday’s Part 1.] By: David A. Smith As we saw in yesterday’s Part 1, long lazy summary days give rise to long discursive summer blog posts, for what is a blog if not a journey of personal exploration?  “We shall not cease from exploration, and the end of all our exploring will be […]

Month in Review, July 2015: Part 1, In wisdom’s rear-view mirror

14 August, 2015 (10:00) | AIG, Bankruptcy, Boston Redevelopment Authority, En viager, Homeownership, Housing, Land leases, Month in review, Policy, Reform, Reversionaries, Speculation, Takings, Tenure, US News |

By: David A. Smith For a month which traditionally begins summer’s biorhythmic slowdown, a lot went on in July, starting with finishing up a summer’s-starting post that dealt with an archetypal problem of common law and common land, access to and use of public beaches, We will fight them on the beaches: Part 3, The […]

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 |

[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 |

[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 |

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 […]