Are Shower curtains a turn off?

I really feel sorry for anyone living on Dean St. I was driving down 6th ave past by the 78th precinct yesterday. Due to the ceremonies/protest were going on, all of the traffic was routed down Dean St. It took 15 minutes to get from 6th ave to Vanderbilt and I had the misfortune of spending half that time behind a wailing ambulance.

If a small ceremony and protest results in this kind of congestion, I can only image what things will be like when 18,000 people come streaming out of Barclays.

Posted by: Colonel Steve Austin at March 12, 2010 10:48 AM in response to Atlantic Yards: The Morning After

How much does does this demo cost the homeowner? What happens insurance wise when HPD dismantles a house? If the house was fully insured, would the insurance company pay to rebuild it? What's it cost per sf to build from bottom up?

Posted by: Colonel Steve Austin at March 11, 2010 11:52 AM in response to 348 Clermont Demo Well Underway

Slopefarm, you really think the additional attention of a Brownstoner HOTD or Open House Pick didn't increase the buyer/bidder pool and subsequently pushed up prices??

Posted by: Colonel Steve Austin at March 5, 2010 1:25 PM in response to Open House Picks: Six Months Later

Back in da good ole days, an Open House Pick on Brownstoner pretty much guaranteed a bidding war on said property. These days, 1 outta 4 sold is a good week for the Six Months posts. Pulled from Market is the most common outcome Six Months later. Has Brownstoner become the Kiss of Death??

Posted by: Colonel Steve Austin at March 5, 2010 12:54 PM in response to Open House Picks: Six Months Later

Dave, i don't think Whuh was talking about LTV. I think he was talking about percentage of networth allocated to RE vs other asset classes.

Posted by: Colonel Steve Austin at February 24, 2010 12:35 PM in response to Case-Shiller: Recovery Waning, Double Dip Possible

BOD, does the uneven hot water happen in the non-heating season?

Posted by: Colonel Steve Austin at February 23, 2010 11:01 AM in response to Hot/Cold Water Issues

Benson, I'm more inclined to question the user's observation that they get steady hot water. Not all calling them a liar.. just questioning.. I don't think someone standing at a sink brushing their teeth or washing dishes is as sensitive to temperature fluctuations like when they are taking a shower. When you've experienced this problem, like I have, there's nothing worse than having the water rush to cold while your in the middle of rinsing shampoo or washing your face. Blindly fumbling to adjust the temperature is not fun..

BOD states that water pressure fine, so that's why i rule out valves. The single lever device that Hank mentioned wouldn't help much either. The anti-scald features would be beneficial, but they won't solve your problem with uneven heat.. If a tankless coil is being used.

The solution is to either tweak the Boiler Controls so that they provide proper priority for Domestic Hot Water. Or install some sort of indirect storage.

Posted by: Colonel Steve Austin at February 23, 2010 10:52 AM in response to Hot/Cold Water Issues

Instead of Point of Service(faucets, valves etc), I'd be more inclined to think the problem lies at the Point of Origin(boiler)..

If you have a hydronic heating system AND domestic hot water is heated by a coil at the boiler, you could experience the very symptoms you describe. The sudden drop in domestic hot water is due to the radiator circulator kicking on and drawing all of the heat out of the boiler.

If your building has this kind of heating system(tankless coil), which many old building do, then opening walls and checking valves is a waste of time.

Posted by: Colonel Steve Austin at February 23, 2010 10:21 AM in response to Hot/Cold Water Issues

Hank, responsibility and liability do not equate to ownership when it come to NYC sidewalks. All the problems without any of the benefits...

I don't get the courtesy argument. My neighbor to the left puts their trash at the bottom right side of their stoop. I usually put my trash next to their trash on or about our shared property line. I do this because in my mind, I'm being courteous to the trash guy. I always looked at it like i'm doing him a favor by being able to pick up 2 sets of trash at once.

So despite my good intentions of helping out the sanitation guy, i may have been pissing off my neighbor by violating the sanctity of his space. I guess you cant win for trying.

Posted by: Colonel Steve Austin at February 17, 2010 12:58 PM in response to Neighbor's Trash

I understand. However, the OP has stated they have never received a violation due to the neighbors actions, nor did they mention that their trash was not picked up due to excessive number of bags. So you're just talking hypothetically.

Posted by: Colonel Steve Austin at February 17, 2010 12:36 PM in response to Neighbor's Trash

I really don't understand what the problem is. So your neighbor puts his trash adjacent to his property, what the big deal? Have you ever been ticketed for his trash? If the trash is put out and sanitation picks it up, what harm is being done.

You're acting like your neighbor is violating your space. In reality, it's not your sidewalk.. Property lines are meaningless since sidewalks in NYC are public property.

Posted by: Colonel Steve Austin at February 17, 2010 12:20 PM in response to Neighbor's Trash

What's your cost basis for building.. Purchase price + Improvements?

If your tax guy is saying that you can depreciate $25K, I'm guessing your basis is just over $1 million.

$25,000*27.5 years = $687500/.66 = $1.03 million.

Posted by: Colonel Steve Austin at February 3, 2010 3:31 PM in response to Renovation Costs Deductible?

Dave, what your current GRM and was your GRM when you purchased.... That'll put you right back into the mix

Posted by: Colonel Steve Austin at February 2, 2010 2:42 PM in response to Last Week's Biggest Sales

Owner/occupied multifamily properties aren't that not that different than your run off the mill investment property. The rented portion of the building is an investment property just like any other.. ask the IRS.

I like Cap Rates instead of GRM, especially when it comes to multifamily Occupied/Owner brownstones. Divide GRM by 1 and that'll give you Cap Rate. A 'good' Cap Rate would be the 30Yr Fixed Mortgage plus 1 or 2 points.

If your Cap Rate is less than your Mortgage Rate, you are basically giving money away on your tenants behalf every month.

Posted by: Colonel Steve Austin at February 2, 2010 2:28 PM in response to Last Week's Biggest Sales

11217, forget rule of thumb's and generalizations.. Here's something a bit more relevant to the NYC market when it comes to Gross Rent Multipliers.
http://realestatevaluation.wordpress.com/2009/09/03/a-little-bit-of-history-gross-rent-multipliers-in-new-york-city-over-time/

http://www.masseyknakal.com/chairman/633778896004636250.pdf

Posted by: Colonel Steve Austin at February 2, 2010 12:50 PM in response to Last Week's Biggest Sales

I just covered the the 1.50 to 1.4 move (actually 1.49 to 1.415, yesterday). To me is less about the EUR and more about the USD. As soon as Fed hints at raising rates, USD is headed much higher.

How will this 'stabilizing' RE market hold up once rising interest rate become a reality?

Posted by: Colonel Steve Austin at January 27, 2010 11:37 AM in response to Case-Shiller: More Stable But Not Good

Dave, you buying $$s yet? Equities are done.

Posted by: Colonel Steve Austin at January 27, 2010 11:21 AM in response to Case-Shiller: More Stable But Not Good

Dave,

1 Mos 3 Mos 1Yr
Nov 08 186.52 -1.7% -3.6% -8.7%
Dec 08 183.46 -1.6% -4.3% -9.2%
Jan 09 180.94 -1.4% -4.6% -9.7%
Feb 09 177.83 -1.7% -4.7% -10.3%
Mar 09 173.60 -2.4% -5.4% -11.7%
Apr 09 170.67 -1.7% -5.7% -12.4%
May 09 171.16 0.3% -3.8% -11.9%
Jun 09 172.36 0.7% -0.7% -11.5%
Jul 09 174.16 1.0% 2.0% -10.1%
Aug 09 175.48 0.8% 2.5% -9.3%
Sep 09 175.32 -0.1% 1.7% -8.5%
Oct 09 174.97 -0.2% 0.5% -7.8%
Nov 09 173.24 -1.0% -1.3% -7.1%

Look's like we're headed down just like the stock market. Go figure.

Posted by: Colonel Steve Austin at January 27, 2010 10:59 AM in response to Case-Shiller: More Stable But Not Good

Dave is pointing out that we are falling at a slower rate than before. Forget all that talk about 1st and 2nd derivatives, he's just trying to show off. All he's really trying to say is, things are better now because they aren't as bad as they used to be.Of course this is a faulty conclusion, but nonetheless, that what he's arguing.

Any middle school kid who's taken pre-algebra knows that when you multiply with a negative number, the product will always be negative. Last i checked negative numbers were still a bad thing when it comes to the value of one's home.

Posted by: Colonel Steve Austin at January 27, 2010 10:18 AM in response to Case-Shiller: More Stable But Not Good

You say you're going to lend her the money to buy the apartment. What will be the terms of this loan? How is Mom going to be able to manage a mortgage and repay the loan to You at the same time?

If it's not a properly documented loan between You and Mom, you run the risk of the transaction being viewed as a gift. Depending on how large the 'loan'/gift amount, the gift tax could be severe.

Posted by: Colonel Steve Austin at January 26, 2010 10:21 AM in response to Buy in Cash, Then Finance?

Kevin, you folks can be real short sighted. One bluestone piece is cracked and that's fuss worthy? I'm not contemptuous of the fuss. I'm just looking at the big picture...

These traffic bumps are being put in all around FG.. Dekalb/ Adelphi and Fulton/Hanson to name a couple, to compliment ones already in the neighborhood. When all is said and done there will be a certain amount of continuity in the neighborhood. This will enhance the overall appearance of things as folks stroll through FG.

Symmetry and continuity is what makes FG so nice, not a bunch of old pieces of bluestone. Especially when they're mismatched between poured concrete.

Posted by: Colonel Steve Austin at December 4, 2009 12:30 PM in response to City Ripping Up South Portland Bluestone

I don't see why the informant is making such a big deal.. The sidewalk was in pretty poor shape to begin with. It was already half concrete, half bluestone. Does the resident expect them to replace the old cement sidewalk with bluestone?

Here's a pic..
http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=11205&sll=37.0625,-95.677068&sspn=56.899383,83.408203&ie=UTF8&hq=&hnear=Brooklyn,+Kings,+New+York+11205&layer=c&cbll=40.689596,-73.975086&panoid=W7Ku3laPIBZ78B-mf0WEAQ&ll=40.689679,-73.974917&spn=0,359.996698&z=19&cbp=12,90.77,,0,19.58

I'm sure the entire corner will look much better than what was there.

Posted by: Colonel Steve Austin at December 4, 2009 11:17 AM in response to City Ripping Up South Portland Bluestone

Captain Tasso attributing this to the wings special is a lame cop-out. Pardon the pun.

That Captain Tasso at the request of mall security would turn back thousands of teens onto the quite streets of FG is HIGHLY IRRESPONSIBLE.

That 2 kids could get shoot and 1 stabbed within a 4 block radius of the Mall is an absolute DISGRACE to the 88th precinct.

My question would be, "Is the 88th protecting the Mall and its tenants at the expense of the neighborhood?"

Posted by: Colonel Steve Austin at November 11, 2009 2:16 PM in response to Two Teens Shot on Fulton in Fort Greene

Over the weekend, there were thousands of scary teenagers, many black, roaming FG. I guess they weren't randomly roaming, they were actually in the hood to take the specialized high school test at Tech.

A question for ya. How do you differentiate the weekend test taking crowd from Tuesdays crowd? 13-15.. mostly black... packs of males... similarly attired...

Posted by: Colonel Steve Austin at November 11, 2009 12:24 PM in response to Two Teens Shot on Fulton in Fort Greene

Blacks teens don't need a 40 cent wing special to congregate at the mall. Do throngs of white kids hang out at suburban malls because Abercrombie & Fitch or H&M is having a blow-out sale?

Yesterday was a half-day and today was no school for NYC public schools. That's a reason enough for teens, regardless of race, to hang out at the mall.

White folks can't tell me fights don't break out in suburban lily-white malls

Posted by: Colonel Steve Austin at November 11, 2009 11:53 AM in response to Two Teens Shot on Fulton in Fort Greene

I wonder how many white folks on this forum have been stopped and frisked while walking down the street? Subway or municipal building don't count as there are signs everywhere warning you that you and/or your bag will be searched.

Posted by: Colonel Steve Austin at November 11, 2009 9:42 AM in response to Two Teens Shot on Fulton in Fort Greene

You're only entitled to the deduction the year in which the donation was made. I'm not sure why you would be deducting $90K over 3 years.

Posted by: Colonel Steve Austin at November 4, 2009 12:47 PM in response to Easement Audit Nightmare

The widget displays very little predictive power when it comes to pricing. However, when it comes to gauging sentiment/confidence, this widget is highly predictive.

The widget seems to support a strong Bearish sentiment among Brownstoners. Since Brownstoners are supposed to know a little something about that which they speak, this would be like a 'Smart Money' indicator.

And right now, Smart Money, as represented by the consistent widget underpricing, is on the sidelines.

Posted by: Colonel Steve Austin at October 23, 2009 10:07 AM in response to 20 Clifton Place Sells, Kicks Widget's Ass

Instead of blaming the widget for underpricing, you need to lay the blame on the Brownstoner respondents who consistently low ball.

Why is the Brownstoner crowd so consistently wrong when it comes to appraising properties? Collectively, it seems the Brownstoner appraisers don't know diddly.

Posted by: Colonel Steve Austin at October 23, 2009 9:48 AM in response to 20 Clifton Place Sells, Kicks Widget's Ass

BHO, only half the rents are falling. I guess the other half of rents that are rising are considered "exceptional data points so as not to skew."

BTW, when was the last time Brooklyn properties sold for 10X annual rent?

Posted by: Colonel Steve Austin at October 21, 2009 10:13 AM in response to Rental Prices Continue to Fall in 3rd Quarter

Ok, so half the new leases signed during the third quarter period were below prior rental amounts. That means the other half of new leases were equal or greater than prior amounts. Why wasn't analysis done on these?

Myself for example. In 3Q , I rented out an apartment for $1800. The previous rent was $1350. That's a 33% increase that shows up nowhere in this data.

Posted by: Colonel Steve Austin at October 21, 2009 9:48 AM in response to Rental Prices Continue to Fall in 3rd Quarter

Wasder, my block has a block association, but i'm not particularly active. I'm of the school of the thought that you don't have to have a block association in order to have a nice block or friendly relations with your neighbors.

My other half is an active participant and the association has been quite successful with civic concerns like trash, tree pits and street lights, etc.

When it comes to crime and policing, they haven't gotten too far with the 88th. The strength in numbers theme that is so successful with civic matters is futile when it comes to the 88th and the NYPD as a whole.

I'm personally thinking about installing a few cameras on my property to capture the street and sidewalk traffic. If something were to happen on my street at least i'd be able to help the police out a bit more substantively. If a couple of neighbors chip in you know your block will be covered.

Posted by: Colonel Steve Austin at October 20, 2009 3:54 PM in response to Thoughts on Block Associations

Wasder, how is forming a block association going to abate the muggings in your nabe? That is your main concern isn't it?

Posted by: Colonel Steve Austin at October 20, 2009 1:35 PM in response to Thoughts on Block Associations

These are crappy ass katrina-style modular housing units. The $120K price tag is appropriate.

These units will be lucky to outlive their mortgages.

Posted by: Colonel Steve Austin at October 20, 2009 10:42 AM in response to East New York's Nehemiah Housing Proving Resilient

As nice as this building looks, I doubt it would have passed LPC. LPC's microscope would point out that this building is entirely out of context with the neighboring historic buildings. The new Goggle Street Views map, shows this clearly.

http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=2+Lefferts+Place,+Brooklyn&sll=40.682526,-73.963437&sspn=0.007648,0.0156&g=2+Lefferts+Place,+Brooklyn&ie=UTF8&hq=&hnear=2+Lefferts+Pl,+Brooklyn,+Kings,+New+York+11238&ll=40.681867,-73.963442&spn=0.003197,0.005348&t=h&z=18&iwloc=A&layer=c&cbll=40.681795,-73.963099&panoid=YWP-q0ZeXsaDLWzNcB00Jw&cbp=12,157.38,,0,1.45

The lack of front stoop, out of context window elevations, minimal historic window detail, as well as the oversized and inappropriately style cornice would give LPC fits.

Alas, the building falls outside of LPC and Brownstoner has given it the seal of approval. So everything is good to go. Any ideas on what the double duplexes will sell for. Over $1 million each or under?

Posted by: Colonel Steve Austin at October 14, 2009 11:11 AM in response to 2 Lefferts Comes Into Focus, Exceeds Expectations

The couple that said, "We’re living here for the rest of our lives", are 64 and 66 years old.

Another couple(aged 80 and 84) said, "their next condo will be coffin."

Geriatric homesteaders.... That's what team bull is relying on now.

Posted by: Colonel Steve Austin at September 28, 2009 9:58 AM in response to The Darkness at Richard Meier's Brooklyn Tower

The block was landmarked on 9/21... The same day all the owners stuff was approved.

Posted by: Colonel Steve Austin at September 23, 2009 11:39 AM in response to A Curb Cut on Landmarked St. Marks Avenue? Really?

Textpert, the original plan was filed before PH landmarking was even calendered. Additionally, the curb cut was approved on 9/21, the same day that the curb cut was approved.

Why would the homeowner need LPC approval for something they didn't have jurisdiction over until the 9/21?

Posted by: Colonel Steve Austin at September 23, 2009 11:27 AM in response to A Curb Cut on Landmarked St. Marks Avenue? Really?

What's with all the fussing.

The DOB permit was filed on 10/16/08. LPC had their first hearing on 10/28/08.

Posted by: Colonel Steve Austin at September 23, 2009 10:55 AM in response to A Curb Cut on Landmarked St. Marks Avenue? Really?

How is Team USA going to maintain their dominance in world basketball if they let this guy in?

A guy who admits this his Russian technology is inferior and hopes to overcome this by acquiring superior US technology.

A guy who's primary objective is to re-elevate Russian basketball to "position of equality among the elites of world basketball".

I'd call that a bit foolish.

NY taxpayers subsidizing the Forbes 40th richest man in the world and currently the richest man in Russia....

Now.. That's absurd..

Posted by: Colonel Steve Austin at September 23, 2009 10:32 AM in response to Mikhail Prokhorov's Unique Offer

Dibs, Having only spent $20K on your facade 'refinish', i guess you can't be too picky. I can't see how the two tone acid wash jeans looks doesn't bother you. You can convince yourself that "integrity of the existing stone is more important". But the two tone look is an example of getting what you pay for. How much extra would it have cost you to chisel and reface whole thing?

Posted by: Colonel Steve Austin at August 14, 2009 2:38 PM in response to DIBS Refinishes His Facade

This looks like a case of someone mounting a split vac systems on a load bearing side wall.

Posted by: Colonel Steve Austin at July 27, 2009 3:38 PM in response to 132 Ryerson Update: Hole in the Wall

Pretty soon Brownstoner is going to have to merge 'Last Week's Biggest Sales' into 'Brooklyn Sales: Under a Million'.

Posted by: Colonel Steve Austin at July 7, 2009 12:10 PM in response to Last Week's Biggest Sales

Brownstoner, look at page 4. I think this would result in a 25% stake for the the buyers not a 50%.

Posted by: Colonel Steve Austin at July 6, 2009 12:19 PM in response to Half-Stake in 370 Clinton Sells—For Half the Listing Price

They didn't sell half the building, they actually only 'sold' 25%.

Husband and wife(Party A) split the title in half through a 'bargain and sale deed with covenants against grantor's acts'. Party A retains 50% for themselves and adds another husband and wife(Party B) to the title in exchange for $1.35.

As it stands, Party A owns 100% of one half and 50% of the other half or 75% of the building.

Posted by: Colonel Steve Austin at July 6, 2009 12:02 PM in response to Half-Stake in 370 Clinton Sells—For Half the Listing Price

10,500 units of Manhattan inventory at the end of June and less than 200 contracts signed.... That's 52 months of inventory at current contracts signing levels.

Is this something for Team Bull to really cheer about?

Posted by: Colonel Steve Austin at July 2, 2009 11:59 AM in response to Housing Market - Where Are We?

Dibs, if the stock market is such a good leading indicator, why did the RE market, represented by Case Shiller, peak first? CS peaked summer of 06. Stock market peaked 3Q of 07.

Posted by: Colonel Steve Austin at July 1, 2009 11:25 AM in response to Case-Shiller: Beware the Head Fake

When "Do The Right Thing" came out I had just graduated from suburban Washington DC high school.

I don't know if it was shame, guilt or fear motivated them, but it was comical watching the white theater members hauling ass to their cars once the movie finished. I had never seen white folks collectively so scared.

I remember playing "Fight the Power", "Rebel without a Pause" and "Bring the Noise" for like 3 weeks straight after the movie.(Until my cassette got all jammed up in the player).

Posted by: Colonel Steve Austin at June 30, 2009 2:49 PM in response to Open Thread: Do The Right Thing Edition

well pHed,

Consensus among the FG Stroller Set was that Mr. Keaton had to go in order to make PS20 a better school. The principal is GONE; a casualty of the FG Tribe Wars(though entirely self inflicted). What happens to him from here, is up to the courts. But he is no longer the principal. He's GONE.

I don't think its mudslinging to let folks know that a teacher with a history of assaulting students teaches kindergarten children. That certainly relevant.

Moving forward... Was the principal really the ONLY problem with PS20? Now that he is gone, will folks like, PutnamD, send their kids to PS20?

Posted by: Colonel Steve Austin at June 29, 2009 2:45 PM in response to Race, Class and P.S. 20's Controversial Principal

Putnam, is an educated parent better than a non-educated parent? Why the need for such a distinction?

Posted by: Colonel Steve Austin at June 29, 2009 2:19 PM in response to Race, Class and P.S. 20's Controversial Principal