Category: Rule of four-sevenths

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 […]