Ratner controls the pace of AY development with the same effectiveness that I control the tides.

Posted by: Johnny at November 20, 2008 7:09 PM in response to FCR: We Control the Pace at Atlantic Yards

Speaking from experience. Sure renting's a risk, but if you think you might be back, it's one perhaps worth considering. I've also had good luck when I rented our my co-op during a move to San Francisco. Was there when I decided to move back.

Also, 2 months is what passed for normal not so many years ago. Not necessarily a massive cause for concern, but I'm sure an inconvenience you'd rather not have. Good luck!

Posted by: Johnny at November 20, 2008 4:43 PM in response to Advice for a Freaked Out Apartment Seller

A lawyer buddy of mine once told me that the issue is that if the city knows about the pot hole and failed to fix it then you might have a case. If no one reported it, then they're not liable.

Suggest you report it to 311 and see. At least the next person might benefit from your kindness. Good luck!

Posted by: Johnny at November 19, 2008 6:31 PM in response to Pot Hole Damage

Reckon it's indifferent to property values 'cause there's no real impact. Except for a few more cops and visitors eating pizza on court street. Was no big deal the last time it was open.

But what about the expansion? What's the dealy on that? Any renderings on this thing? Looks pretty butt-ugly now. Needs some nice big windows, green space, nice low fences . . .

;-)

Posted by: Johnny at November 19, 2008 6:28 PM in response to Saying No to House of D

Congrats Cottontop. Your financial logic's directionally sound I think. You're essentially financing your renovations with cheap mortgage dollars and kinda paying an additional 4.5% interest through your PMI (ignoring compounding) for the privilege (you're paying mortgage interest on the 10% but maybe getting a point or two off the money in the bank.)

So, I think, total cost is mortgage rate plus 4.5% minus the interest you're maybe getting on your cash in hand. But, if the alternative was 20% down and borrowing against a credit line to renovate, then the real cost is less than that 'cause your mortgage rate is probably quite a bit lower than any other rate of borrowing. Plus you have a little extra in the bank. Prudent.

PMI's a bummer, but you can't put life on hold forever. Speaking from experience, a few sleepless nights with a big purchase like this come with the territory. This too shall pass. Still, it'll give you motivation to pay off that next 10%. Welcome to the 'hood!!

Posted by: Johnny at November 17, 2008 6:29 PM in response to bought a house with 10% down

Unfortunately, probably the only money Ratner lost in this whole debacle is the $50 million we already gave him to, ahem, finance affordable housing. Still, suppose it's better we waste $50 million of taxpayer money than the $2 billion we were going to give him.

Posted by: Johnny at November 17, 2008 6:01 PM in response to Closing Bell: Atlantic Yards Deathwatch

Saw one on the corner of State and Henry a while ago. Bloody thing was huge. After a night at the ale house think it scared me more than I scared it. Ran up State Street and hid under a car.

Not sure what the racoon did ;-)

Posted by: Johnny at November 14, 2008 12:54 PM in response to Raccoons Take Clinton Hill

It's a press release. has all the validity of . . . a press release. Now, more than ever, FCR has to pretend it has money, backers and a grip on reality.

Lucky for us it's oh-for-three.

Posted by: Johnny at November 14, 2008 9:15 AM in response to Barclays Maintains Ties to Atlantic Yards

I don't dislike the what because he's arrogant and rude. I dislike him because his arrogance and rudeness is just soooooooo $%#%ing boring and predictable.

Posted by: Johnny at November 13, 2008 12:22 PM in response to Hedge-Fund Assets Shrink by $100 Billion! That's why everything has gotten cheaper. No more Hedge Funds driving up prices!

Bars, stripes . . . tomato, tomahto. Point being this is a great country. Even more so since Tuesday.

Posted by: Johnny at November 11, 2008 9:59 AM in response to Flying the Flag in the Slope

We now have a President that can speak in complete sentences without a teleprompter. Reason to fly the flag in my book.

Lot of very bitter McCain/Palin supporting Repubs out there. To them I say keep doing what you're doing. Focus on tax cuts for the rich and ignore the economy. Concentrate on fundamentalism and not science, opposing stem cells while health care costs continue to spiral our of control. Let Rush Limbaugh make your next choice for VP as well. Worked out real well this time.

In the meantime, we just took back our amazing, beautiful country, and we're gonna fly the stars and bars proudly!

Brooklyn, love it or leave it.

Posted by: Johnny at November 11, 2008 9:21 AM in response to Flying the Flag in the Slope

Agree. Why should non-drivers subsidize the road and bridge repairs caused by a very specific set of people. We already breath their pollution and listen to their alarms and horn honking.

Ideally, tolls based on weight. $10 for every dumb ass in a hummer or SUV. $2 for a compact hybrid. $1 for a motorcycle (me!)

Fewer cars means a richer, safer, healthier New York.

Posted by: Johnny at November 10, 2008 10:55 AM in response to East River Bridges May Not Be Free For Long

I have no idea what new problems our new President will face. But I'm pretty sure that unless the solution to them is "less government oversight" John McCain wouldn't have any idea how to fix them. And no matter what the problem is, Sarah Palin wouldn't even know how to spell the answer.

You nominated a geezer and a bible-thumping dimwit. And the election result is everyone's fault but your own. Keep it up. In fact, start donating to Palin's 2012 campaign now! I am ;-)

Posted by: Johnny at November 6, 2008 11:32 AM in response to End of the $400 Property Tax Rebate

Yeah, he was elected 28 hours ago and he aint fixed nuthin' yet.

Posted by: Johnny at November 6, 2008 9:18 AM in response to End of the $400 Property Tax Rebate

I beg to differ Goldie,

Republicans let Limbaugh pick their VP and it's all going horribly wrong for them. It's my duty to remind them of this. If it weren't for the deficit, unemployment, America's lack of standing in the world, and the terrible, terrible death toll in Iraq, I'd be laughing at them right now. But the truth is thy elected the dumbest man ever to occupy the oval office and a lot of people paid a very high price for their mistake.

That being said, Bible Spice (thanks Biff!) is already starting her campaign for 2012. Now THAT'S funny!

Posted by: Johnny at November 4, 2008 2:43 PM in response to Election Night Parties

The McCain campaig's motto has been "Anyone smarter than Sarah Palin is an elitist commie terrorist sympathizer," and yet the media is apparently to blame for his defeat.

AND WHERE CAN I GET THAT AWESOME POSTER?????

Posted by: Johnny at November 4, 2008 1:57 PM in response to Park Slope: The Blue Half of the Two Americas

Beautifully put Montrose Morris. Thank you for sharing your story,

Posted by: Johnny at November 4, 2008 1:44 PM in response to Long Lines, Everywhere

"Wahhhh it's the media's fault!!!!"
"Wahhhh Sarah Palin's been victimized!"
"Wahhhh you're all commies!!!"

A bunch of Republitards that let Rush Limbaugh pick their VP are calling me a Obamabot. That'd be funny if the last guy they elected didn't take troops out of Afghanistan, let Osama Bin Laden go at Tora Bora, so he could invade Iraq.

Going to Bell House. I'll be the drunk guy in the Obama t-shirt laughing at all the McCrazy and Bible Spice apologists on Fox saying "Wahhhhh."

Posted by: Johnny at November 4, 2008 12:55 PM in response to Election Night Parties

The pendulum's swinging to the left because there was no more room on the right for it to swing to. Time to put America back on top.

And Sarah Palin, your 15 minutes are almost up . . .

Posted by: Johnny at November 4, 2008 11:15 AM in response to Election Night Parties

Dean between 4th and 5th is a very, very busy and loud street. Used as an Atlantic Avenue alternate.

Posted by: Johnny at October 30, 2008 1:35 PM in response to House of the Day: 400 Dean Street

What happened to the mega listing overlooking the promenade? Was asking $21 million a few years ago, then I think $16 . . .

The house that was owned by the elderly couple that made hundreds of millions with Buffet. The passed away and it got sold for a few mill and needed work. And then got renovated up the wazoo by some Wall Street money.

Posted by: Johnny at October 29, 2008 11:30 AM in response to Brooklyn Heights Mansion Fetches Record-Breaking Price

Bravo Six Point! I am rewarding them by increasing my intake of their beer.

Oh the sacrifices I make for a good cause . . .

Posted by: Johnny at October 29, 2008 10:13 AM in response to Brooklyn Makes Good Beer

Love reading this.

Posted by: Johnny at October 24, 2008 4:12 PM in response to Bird Blog: Week 20

Based on some experience early last year, I'd call Richie at Sessa Plumbing. A big firm, not cheap. But extremely knowledgeable with more engineering-type plumbing work, versus the typical wrench and washer type gigs.

Posted by: Johnny at October 23, 2008 4:00 PM in response to Need Advice on a Plumber

Brilliant. On every level. Bravo!

Posted by: Johnny at October 16, 2008 10:49 AM in response to Exteriors: Green Roof in Bloom

CMU - try it after work. 6:30 or 7, just before they close the road again. Quite a lot of people, especially in summer.

And my point with the swerving to avoid the squirrel was that it happened so quickly the car driver didn't have time to check his blind side. He (she) just swerved and was just lucky there were no cyclists or pedestrians to his left at the time.

Cars and a large number of people in close proximity is a recipe for disaster.

Posted by: Johnny at October 3, 2008 12:32 PM in response to Car-Free Prospect Park? Blech!

I've spent a LOT of time running and cycling in the park. The danger from cars is significant. The quality of life impact from cars similarly large. But the number of cars is relatively small. It only takes one idiot driving at high speed (a frequent occurrence) or blasting a horn (also frequent) to have a negative impact of a lot of people's safety and enjoyment.

When there are cars in the park, you'll see a lot of cyclists and runners crammed into the two small inside lanes while the smaller number of cars take over the vast majority of the space. Banning cars outright will force a small number of vehicles into streets that aren't especially busy - even at rush hour. A minor inconvenience for car owners. A big safety and quality of life win for the rest of us.

Posted by: Johnny at October 3, 2008 12:29 PM in response to Car-Free Prospect Park? Blech!

A very small number of car owners cause a lot of danger and problems for a large number of pedestrians and bikers. Last week I watched a speeding driver swerve into the "bike lane" - to avoid a squirrel.

Bottom line, banning cars would cause a minor inconvenience to a few car owners and improve the park - and safety - for a much larger group of bikers, runners and pedestrians. Time for a little democracy.

Posted by: Johnny at October 3, 2008 10:01 AM in response to Car-Free Prospect Park? Blech!

Yes. Had a small section of one wall done for substantially more.

Posted by: Johnny at October 1, 2008 5:01 PM in response to paying for a wallpaper hanger

I've said it once and I'll say it again ;-)

" . . . where it is the taxpayers looking to bail out. But ultimately, what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy. Um, helping, oh -- it's got to be all about job creation too. Shoring up our economy, and putting it back on the right track. So healthcare reform and reducing taxes and reining in spending has got to accompany tax reductions, and tax relief for Americans, and trade, we've got to see trade as opportunity, not as a competitive, um, scary thing, but 1 in 5 jobs being created in the trade sector today. We've got to look at that as more opportunity. All of those things under the umbrella of job creation. This bailout is a part of that."

Posted by: Johnny at September 29, 2008 4:52 PM in response to Quote of the Day

Right, Pelosi. A republican president's been asleep at the wheel for 8 years and it's all Pelosi's fault. Not to worry, I'm sure Sarah Palin's gonna tell us how to fix this on Friday night.

Posted by: Johnny at September 29, 2008 3:30 PM in response to Quote of the Day

FSQR,
Actually Ratner already received $50 million in funding for affordable housing. What do you think was paying all of those lawyers and PR companies? His own money???? Read the papers. FCR's dead broke.

Posted by: Johnny at September 29, 2008 2:06 PM in response to Atlantic Yards Suffers a Setback

FSRG,
I like to think that I -and Bxgrl own the site - because it was our tax dollars that paid for it - and yours too of course.

But you're right about one thing, millions of people will be effected by it - because giving Ratner $2 billion over the next 5-10 years in order to receive $1 billion in increase tax revenue over the next 20 years (according to Ratner's own projections) will cause more deficits and further hurt the economy for all of us.

Posted by: Johnny at September 29, 2008 1:27 PM in response to Atlantic Yards Suffers a Setback

I used Joe, referenced above. $7k for the steel work and another 5 for the Ipe (sp) and carpentry finishing. Deck's about 8 by 16. Heartily recommend Joe and my carpenter.

Posted by: Johnny at September 28, 2008 1:17 PM in response to Steel Deck for $7,000 ?

Not wishing to confuse matters, but I'd bet location has a lot to do with the ratio between replacement cost and total cost - 3,000 square foot house in Brooklyn Heights costs as much to rebuild as the same 3,000 square foot house in . . . well, elsewhere.

I live in Park Slope, house is 2800, give or take. I'm thinking $600k to rebuild nicely is a decent amount. End of the day though, it's what you're comfortable with. $250k in water damage seems very high to me.

Posted by: Johnny at September 25, 2008 4:55 PM in response to Home Insurance

I did this. Unpleasant, but not the end of the world for either party.

One, I hand delivered the letter, which was worded in very specific legalese. Found it online somewhere. Certified mail works too I guess.

Two, it's 30 days notice to the end of the calendar month in New York, not exactly 30 days. So give them the letter October 2 and they have 30 days from the end of October, i.e. too the end of November. Give it to them Sept 29, and they have 'til the end of October. But as noted above, more notice is nicer.

Good luck.

Posted by: Johnny at September 24, 2008 2:43 PM in response to Tenant Lease (non-renewal)

Danny DeVito.

Posted by: Johnny at September 22, 2008 5:01 PM in response to Closing Bell: Atlantic Yards...On Stage?

And "rich guy wanting corporate welfare" isn't the standard for taxpayers having to underwrite a $2 billion gift to the owner of a basketball team.

Posted by: Johnny at September 18, 2008 10:57 AM in response to AY Arguments Heard at Appellate Court

Potentially better news for those of us that oppose this debacle is in today's Times. Congressman questioning the legality of taxpayers giving the Steinbrenners a much smaller handout than the one Ratner's trying to bilk from us.

All Ratner's doing is digging a few holes so he can say the project's started. It'll stop once he runs out of money - that being the $50 million we already gave him for affordable housing.

Posted by: Johnny at September 17, 2008 9:19 AM in response to How Will Wall Street's Chaos Affect Atlantic Yards?

A bad day no doubt. And I feel for the poor souls at these firms that didn't make the bad decisions and didn't get paid millions of dollars to make them.

Should be noted though that oil is down $5 and interest rates are also down. It's a bad day, not the end of the world. The economy is still growing, albeit slowly, and the What is still an idiot.

Posted by: Johnny at September 15, 2008 10:18 AM in response to Wall Street Reorg: Impact on Real Estate?

East New York,
That someone got a beating a block from my house for no reason whatsoever is certainly important news to me. Could have happened to any one of us. The fact that there's more serious crime going on would excuse all criminal activity short of murder. Hardly an acceptable approach for most of us.

Posted by: Johnny at September 12, 2008 10:56 AM in response to Wild Teens Trash Court Street B&N, Assault Manager

I have a very modern kitchen in a (devoid of detail) brownstone. I used plain old linoleum. Cheap, easy to clean and looks appropriately neutral in an area where there's a lot going on visually.

Posted by: Johnny at September 12, 2008 9:24 AM in response to A penny for your... kitchen floor??

I'd imagine it's also not a good time to ask for tax-free status for Ratner's stadium. Awfully embarrassing to green light half a billion dollars of corporate welfare in this economy, in an election year no less.

Posted by: Johnny at September 10, 2008 10:10 AM in response to Plans to Break Ground on Yards, But What About Phase II?

What (and I'm not done trying to make The Oracle of Lodi happen!) only posts when the market's down. Let's pray for a rebound, if only to avoid having to read his cut-and-pastings.

Posted by: Johnny at August 25, 2008 3:37 PM in response to House of the Day: 6 3rd Street

Your lawyer will be able to tell you how to best handle the cash portion.

Essentially the bank's lawyers leave the room when their business is concluded. Your and the sellers lawyers stay at the table and resolve the private issue, in a contract rider I believe, between you and the buyer. At - not before - the closing.

People that sell houses make very large deposits. That large deposits are tracked by the IRS doesn't mean it's illegal. Unless you believe the money's from an illegal source, if you declare the cash it's a completely legitimate transaction on your end. Buyer wanted to pay some of the cost in cash. Big proverbial wup. The buyer may have misrepresented his total income on his mortgage app because (allegedly) he has some unreported income, but that's his concern, no?

Posted by: Johnny at August 25, 2008 9:38 AM in response to lower offer with cash at closing?

Er . . . let's just say someone I know did this on their first apartment. Appraisal came in $30k below agreed-to price (and $150k below last sale. Appraiser had never worked in Brooklyn Heights. Different age.) And my . . . friend . . . split the difference in cash (certified check) with the seller at closing. Anyway, cash transaction component can be on contract. Not on mortgage. Lawyer can handle. Call it $50k for furniture if you like. A semi-common occurrence.

Posted by: Johnny at August 24, 2008 9:23 PM in response to lower offer with cash at closing?

RH,
You'll never get to Orange Street. And my girl says our house is an embarrassment.

Posted by: Johnny at August 22, 2008 3:27 PM in response to Open House Picks

"I live in Brooklyn. By choice."

Posted by: Johnny at August 12, 2008 10:53 AM in response to The Next New Brooklyn

I think both the name and the logo(s) strike the right balance of sophistication without pretension. It's Brooklyn. Liked quite a few of them but the first to me is tasteful, a little modern, with a nod to the tree-lined streets that we all dig about our home borough.

And the attention to detail is something a few more developers might take note of.

Bravo!

Posted by: Johnny at August 7, 2008 12:25 PM in response to Inside Third & Bond: Week 48

What, take your blow up doll and bend it over your futon.

Posted by: Johnny at August 5, 2008 9:54 AM in response to Property Shark's Foreclosure Report: Queens Is Hurting

Is anyone bothered that the stadium is being funded almost ENTIRELY by our tax dollars and naming rights?

Posted by: Johnny at August 4, 2008 4:31 PM in response to Nets Coming Late to Atlantic Yards and Suit Coming Soon

Said it once and I'll say it again - $2 billion of taxpayer money over going to Ratner over the next ten years in order to get $1 billion back in tax revenues over the next 30.

Anyone doesn't like the barren lots, I've got a suggestion - invest your own damn money developing them.

Posted by: Johnny at August 4, 2008 11:07 AM in response to Nets Coming Late to Atlantic Yards and Suit Coming Soon

One of those rare listings that would look better unfurnished.

Posted by: Johnny at July 30, 2008 12:09 PM in response to Dyker Heights 'Mansion': Yours for $2 Mil

Beautiful. And putting a bar in the back yard is $%#$ing genius!!!! I'd never leave.

Posted by: Johnny at July 30, 2008 11:47 AM in response to Garden of the Day: Refining in Boerum Hill

Too many variables. Don't want to be a downer but there's noise, there's potential for light obstruction in the back, and aesthetic crapitude in the front. All can impact you. Me, I wouldn't buy with so many unknowns, but if it's a great place, play hardball? Good luck!

Posted by: Johnny at July 30, 2008 9:12 AM in response to Living next door to a construction site

"More Crime, Fewer Flea Markets" belongs on a t-shirt.

Posted by: Johnny at July 29, 2008 10:14 AM in response to Onion: Gentrification Being Trumped by Artistocratization

Eeps. Sorry.

But that's essentially tough nuggies, no? Definitely talk to a good lawyer, but I'd think that they could be brought (threatened to come) to the table if contracts have been signed, deposits paid, and everything's ship-shape on your end. At the very least, a good lawyer will help you negotiate at least some of your out-of-pocket expenses.

Good luck

Posted by: Johnny at July 25, 2008 12:59 PM in response to Broke Seller Wants Out

Pardon my ignorance, but how does one find foreclosures . . . apart from here? P-shark?

Posted by: Johnny at July 23, 2008 5:07 PM in response to Foreclosure of the Week: 445 East 19th Street

How tall is the second floor "loft area"? I'm guessing about 6 feet based on photos.

Posted by: Johnny at July 22, 2008 1:10 PM in response to Condo of the Day: 44 Cheever Place

And people still think we're gonna give $2 billion to Ratner?

Posted by: Johnny at July 22, 2008 9:43 AM in response to MTA Looking to Raise Fares Once Again

Biff,
Fair. But your Corcoran model still doesn't refute my lowball for a fast sale hypothesis. They're just adding a "price high for a few days and see what happens" twist. And prices will always be adjusted down more frequently than up 'cause you never need to adjust a price up, just take a bid over ask.

To me, a bidding war is just another way of saying broker underpriced. AND . . . even a downward adjustment, could just be an error on the part of the broker on what a low price is. Doesn't have to imply intentional overprice.

If freekonomics says broker houses stay on the market longer, you're gonna have to concede buddy . . . .

Posted by: Johnny at July 18, 2008 3:06 PM in response to Who's Gonna Buy This Stuff Now?

Linda Richman, right!!!!! Thanks,

Here's my point - from a purely economic perspective, would you rather work 20 hours for, say, a $5,000 commission or 40 hours for a $5,500 commission? When that additional 20 hours could have netted you an additional full commission, versus the incremental commission of the higher price/slower sale model.

Here's a test. There's an old adage that brokers' own homes stay on the market longer than average. If that's true, and I don't know if it is, then I'm right. The broker is trying to maximize sale dollars by pricing higher/selling longer. If it's not true, and brokers own homes sell in same time frame on average then they're pricing their own homes at "fair market" same as everyone else's and I'm w-w-w-w-w-w-w . . . not as right as I think ;-)

Posted by: Johnny at July 18, 2008 12:49 PM in response to Who's Gonna Buy This Stuff Now?

I'll be the contrarian . . .twice. In my best Linda Wotsername Coffee Tawk voice, discuss among yourselves -

One, all brokers try to underprice. They make money on sales volume. Adding 20% to a price actually reduces their profit 'cause it takes them longer to sell the thing. For a broker the fastest sale is the best sale.

Two, at the right price, these crapshacks could work. They're designed to maximize internal space. Not sure of rents in the area, but for the 3-fam, what part of the nut would two rents cover? Of course, a really, really thorough inspection would be a requisite.

Posted by: Johnny at July 18, 2008 11:56 AM in response to Who's Gonna Buy This Stuff Now?

Lack of housing bonds caused the lack of affordable units? Believe it was the Times (maybe the News) that said this would happen. Atlantic Yards subsidies have essentially eaten all of the funding. And with AY affordable housing not being built til . . . god only knows when, other developers lose the opportunity at the same funding pool. Bottom line - despite the rhetoric, the con that is Atlantic Yards affordable housing is actually having a negative, not neutral, impact on the number of affordable units being built in the city.

Posted by: Johnny at July 17, 2008 10:39 AM in response to John Catsimatidis: Tough Guy For Tough Times

As a landlord I'm required to give 30 days to tenants - actually 30 days plus the end of the month that the 30th day falls in. My guess (note, guess) is that as tenants you have to do the same thing. Sorry.

BUT, if the landlord was able to rent the place in that time, story might be different. I'd imagine he'd have a hard time justifying receipt of two rent checks if push came to shove. Good luck,

Posted by: Johnny at July 16, 2008 5:57 PM in response to Security Deposit - no lease!

Yeah, think that's it. Sorry for lack of specifics. They're a couple of doors into Park Slope from the small sporting goods store on the corner of 5th and Flatbush.

The folks on 4th avenue with the mural - Park Slope Glass and Window I think - are god-awful.

Posted by: Johnny at July 14, 2008 3:29 PM in response to Can anyone recommend a cheap Window Repair shop in Brooklyn?

The kinda dingy looking place on 5th avenue all the way up where it meets flatbush. East side of street. Nice people. Gave me a good quote and told me how to save a few bucks by not replacing a few windows.

Posted by: Johnny at July 14, 2008 2:42 PM in response to Can anyone recommend a cheap Window Repair shop in Brooklyn?

Gabby,
Thanks for doing this. The detail you put into it makes it very enjoyable and insightful.

And please do what we do and ignore the What. He's a blithering idiot. Don't bother explaining how you'd make money to him. He wouldn't understand it.

Posted by: Johnny at July 11, 2008 2:09 PM in response to Bird Blog: Week 9

Had a similar problem when I bought my first co-op years ago. Appraisal came in low largely because bank's appraiser worked used comps in areas other than Brooklyn Heights.

Solution we used, admittedly on iffy territory but c'est la vie - private loan commitment to the sellers. We paid the bank the $150k (told you it was a while ago) they would approved. We then paid the seller directly $20k and we negotiated away the $5k difference from our agreed to price of $175k. At the closing the bank's lawyer just left, wink-wink, and we signed the private loan papers.

In your case, you said buyers had more than enough money to put down. Buyers could just, for example, put less down and pay you $50k for. . . . furniture?

Posted by: Johnny at July 11, 2008 11:23 AM in response to Help - low appraisal

Typical right wing drivel - from the people that brought you "Cutting taxes raises tax revenue."

Unions aren't the problem here. Currently, affordable housing is not being funded because of the Ratner Effect. Almost all of the funds allocated to affordable housing in New York have been pledged to AY.

As we all now know, the affordable housing that was supposed to be part of every one of the four stages of the development has now all been moved to the mythical fourth stage, which hasn't even been scheduled by Ratner - although the funding currently remains in place. Because of the massive scale of the development (and in my opinion, the massive scale of the associated fraud) Ratner's essentially blocking others from getting financing to build affordable housing.

Note, this has nothing to do with the legal delays. This was simply a means to secure funding by dubious means via bought politicians and a public that didn't pay attention.

The good news - the times they are a changin'.

Posted by: Johnny at July 10, 2008 10:40 AM in response to Do Union Demands Stymie Affordable Housing?

Your tax dollars at work . . .

Posted by: Johnny at July 10, 2008 9:25 AM in response to Closing Bell: Ward's Bakery Rubble

Sure. Don't mock the source; it's a good snapshot -

http://www.nypost.com/seven/04142008/news/regionalnews/ratners_nets_gain_106507.htm

Posted by: Johnny at July 10, 2008 9:16 AM in response to Appeal Over Atlantic Yards Suit is Filed

1:27. You've got a good point. I'd argue (and have!) that Ratner's pockets aren't that deep. Hence Newark offering a lot less in terms of corporate welfare is probably the only solution available at this point.

BrooklynLove, the costs of lawsuits pale in comparison to the $2 billion we're allegedly spending in the next 7 years to generate $1 billion in tax revenue over the next 30. The $1 billion being Ratner's number, not an actual number.

And the affordable housing part - what affordable housing? That died (was moved to the mythical fourth stage) months ago. Although I'm very excited about the puppy I'm getting . . .

Posted by: Johnny at July 9, 2008 2:36 PM in response to Appeal Over Atlantic Yards Suit is Filed

10:58 - that's a good question. I believe the answer is that because Ratner's dead broke, he needs the naming rights for the other costs -

The NYC taxpayer picks up the first $500 mil for the $1 billion stadium, and the naming rights pay a lot of the remaining construction and operating cost. Stadium essentially costs Ratner nothing (give or take).

The big winner here is Ratner - as owner of the Nets. Once we've donated the stadium to FCR, the Nets are worth, quite literally, several hundred million dollars more than they're worth today - until they're sold and relocated of course.

See GW Bush and the Texas Rangers.

Now why the city entered into a $4 billion project with a developer with no money is also a good question.

Posted by: Johnny at July 9, 2008 12:23 PM in response to Appeal Over Atlantic Yards Suit is Filed

I care very deeply about the $2 billion Ratner's bilking us for. Those in support of this . . . debacle are free to use their own money to try and finance the arena, but seem not to want to.

This project is doomed. Even if the attempt to get an accurate environmental impact study done fails, the subsidies won't come through. $500 mil of our money just to build Ratner an arena? Any pols out there want to sign the tax increase to come up with that figure, let alone the increases that will be needed to come up with the full $2 billion?

Aint happening.

Posted by: Johnny at July 9, 2008 10:48 AM in response to Appeal Over Atlantic Yards Suit is Filed

The What's narrow-minded rants and daily copy-and-pastings from the Bond Buyer became stale a long time ago.

Posted by: Johnny at July 8, 2008 12:09 PM in response to Last Week's Biggest Sales: Slope Supreme

After Barack wins, the President of the most powrful nation on earth will no longer believe the world was created by god in 4004 BC.

So that's one thing that'll change.

Posted by: Johnny at July 7, 2008 3:16 PM in response to Backyard Politics: Benches for Barack

You're doing the right thing Flora. Try and keep everything calm . . . until you don't have a choice.

Had a similar problem with a prior tenant. You're being specific and putting things (professionally) in writing. Any more problems, perhaps remind him that he's free to go with 30 days notice and see if he gets the hint that leaving flexibility is a two way street.

Good luck,

Posted by: Johnny at July 7, 2008 2:04 PM in response to tenant problem

The Oracle of Lodi speaks . . .

You know what they say about Lodi - If you can make it there, who'd notice?

Posted by: Johnny at July 3, 2008 11:14 AM in response to The Biggest Sales of '08, So Far

Think I was the prior stop. Mine was a gap between the pipe coming into the house and the foundation it was going into that they uncovered. I concreted around it, which should seal it better.

Posted by: Johnny at July 1, 2008 4:59 PM in response to Basement blues part 2

Also on 10th street. Sessa installed a 1-way valve on the main last year. Worked fine up until Saturday's deluge. Problem was water backing up from the street through a drain in the basement that prior owner built a permanent floor over.

A bit pricey, but no BS. And very good at diagnosing problems. If you know exactly what problem and solution is, maybe a smaller operation would be cheaper. Me, I had 3 plumbers come and tell me my flood every time it rained was inevitable before Sessa "fixed it."

Not sure if Saturday was an anomaly but they're coming back tomorrow. We shall see.

Posted by: Johnny at June 30, 2008 5:41 PM in response to Basement blues...

homeclick.com

Posted by: Johnny at June 30, 2008 9:12 AM in response to Website/store to buy kitchen/bath products

One, unlike Atlantic Yards the waterfalls are entirely privately funded - no public money whatsoever.

Two, if you're concerned about pollution, don't drive in the $%#$ing city. They haven't impacted my commute on the subway one bit.

Posted by: Johnny at June 27, 2008 3:22 PM in response to Right This Way to The Waterfalls

If the What moves to Brooklyn, I'm moving to Lodi.

Posted by: Johnny at June 25, 2008 10:11 AM in response to Latest S&P Numbers: Surprise! They Ain't Good

BHOD's been close for about 5 years now. The Oracle of Lodi once again confuses the voices in his head with reality.

If the issue is opening the jail, big whup. If the concern is doubling the size of it, different - worse - issue.

The Johnny

Some day the What's gonna get back on his meds

Posted by: Johnny at June 24, 2008 9:46 AM in response to Politicians Speaking Out Against House of D Plan

Right, $40 grand is something to be concerned about but $2 billion isn't. Ratnerville's not getting built. The $50 mil we already gave Ratner (for affordable housing no less!) is already coming across as the fraud that it is.

We're gonna give him the rest of the $2 billion? I think politicians like to get reelected. Any of them try and pass property tax increases while funding Ratner's handout are gonna get a lot of heat. I can see the stump speeches now - "Tax hikes are good for you. Remember, all we have to do is give this guy $2 billion of our tax money over the next ten years and over 30 years he's gonna give us a billion dollars back! Vote Quimby."

Posted by: Johnny at June 23, 2008 11:26 AM in response to Supreme Court Won't Hear AY Eminent Domain Case

This just in - Ratner's still broke.

Chances of New York taxpayers ponying up the remaining $1.950 billion Ratner needs also ZERO.

Posted by: Johnny at June 23, 2008 10:56 AM in response to Supreme Court Won't Hear AY Eminent Domain Case

Slick is right. If you move, you're liable for rent until the landlord finds another tenant - but they must make a good faith effort to do so.

Have you documented your grievances - taken photos, put complaints in writing and sent by registered mail etc.? It might not come to that, but if you're dealing with a big professionally managed building, they're not likely to be charitable.

Posted by: Johnny at June 19, 2008 10:34 AM in response to Right way to break a lease...

Because it's all too visible from Brooklyn - the damn Verizon tower and its frequently broken and all too bright neon sign.

Posted by: Johnny at June 19, 2008 9:27 AM in response to Three Brooklyn Winners on AMNY's Most-Fugly List

Because it's all too visible from Brooklyn - the damn Verizon tower and it's frequently broken and all too bright neon sign.

Posted by: Johnny at June 19, 2008 9:26 AM in response to Three Brooklyn Winners on AMNY's Most-Fugly List

Truman Capote put it best:

"I live in Brooklyn. By choice."

Posted by: Johnny at June 18, 2008 12:19 PM in response to The Price is High, But Manhattanites Are Buying It

2:44 - I can do a better job of providing affordable housing than Ratner. Just give me $1.9 billion not to build affordable housing and I've saved the city $100 million over Ratner's affordable housing plan and generated the same number of affordable housing units - none.

Posted by: Johnny at June 17, 2008 4:08 PM in response to Pols Say They Want an Atlantic Yards 'Trust'

Not sure Ratner's that worried. His project's gonna get killed but the only money wasted has been the $55 mil we already gave him. But I did like Yassky's comment -

Indeed, Yassky noted that the developer has already gotten $55 million, “and nobody here can tell me when we’ll see the first affordable housing, $55 million when our public housing is falling apart, our schools are underfunded.” In the future, he said, the trust could say, “Not so fast.”

Posted by: Johnny at June 17, 2008 9:46 AM in response to Pols Say They Want an Atlantic Yards 'Trust'

Your ignorance isn't a little embarrassing at all. It's part of the learning process!

One thing though - it might have nothing to do with waterproofing. It could be a drainage issue. Still solvable. Heavy rain water came into my finished basement through a poorly set-up (and hidden) drain. Once found, easy to solve.

I used Sessa Plumbing after a bunch smaller firms came through with either no clue or bad advice. Contractor told me i was "definitely water seeping in from my (then) unfinished back yard" and that I needed to put in a patio. Which I did. And of course it didn't make a bit of difference. Looks nice tho.

One plumber told me there was nothing that could be done and charged me $95 for the service call. And like an idiot I paid it.

That was my learning experience ;-)

Posted by: Johnny at June 16, 2008 9:52 AM in response to Legal disclosure responsibilities for a seller

Yep. Had a similar problem Water started pouring in every time it rained heavily, but only when it rained heavily.

Contractors and a bunch of plumbers came in - crack in basement, water coming in from unfinished back yard foundation, nothing can be done yadda yadda. Sessa Plumbing came in. Big firm. A bit pricey but diagnosed the problem. Turns out there was a drain under the permanent floor prior owner had installed. Drain backed up in heavy rain and let water into the basement. They found the drain and installed one way valve. Problem solved . . touch wood.

Posted by: Johnny at June 15, 2008 11:52 AM in response to Basement waterproofing

I'm actually in favor of developments getting, as 2:18 said, "some benefits."

But $2,157,260,000 is not "some benefits." It's a subsidy of such massive proportion that it is 50% of the estimated cost of the entire development.

It's a $2,157,260,000 subsidy over the next 10 years that Ratner's own PR says will generate only $1 billion in benefit over the next 30 years. Any guess on what the actual number is if Ratner's saying $1 billion? Exactly.

If the pro-AYers want to invest more than their tax money in a scheme that returns half of it back to them 30 years from now I have just the investment for them. See my earlier rant.

It's a $2,157,260,000 gift to a company that's broke so they can build a stadium for the broke company's other holding.

It's a $2,157,260,000 ponzi scheme with taxpayer money.

But you're right about one thing. This type of development must use public money - because private investors would never fall for a scam like this.

Posted by: Johnny at June 13, 2008 3:44 PM in response to Key Form of AY Arena Financing Appears Shaky

Yeah, what bxgirl said.

1:02. I certainly want more money. It's just that, like Ratner, I'd rather take someone else's than earn it. But let's not argue. See you by the Bentley with your check.

Posted by: Johnny at June 13, 2008 1:57 PM in response to Key Form of AY Arena Financing Appears Shaky

$2 billion to Ratner is realism? It's completely $%#$ing insane to most people.

IRS is going to look long and hard at a project that seeks to avoid taxes on $2 billion of non-tax funding on a $4 billion project that FCR itself says is going to generate $1 billion in tax revenue. . . .over 30 years.

Since my suggestion for AY proponents to donate the shortfall themselves didn't get a lot of positive response (odd really), another fiscal challenge to them:

Give me $2 million today. I'll spend some of it, thereby increasing employment and economic growth and, over the next 30 years I'll give you $1 million of it back. Bring your checks and form a line next to Ratner's Bentley. Parked at 7th Ave and 9th street most mornings.

Posted by: Johnny at June 13, 2008 12:26 PM in response to Key Form of AY Arena Financing Appears Shaky

Done deal my a$$ hat.

A $2 billion transfer of taxpayer money to Ratner isn't enough? 50% of the total cost of the project underwritten by the taxpayer and it's not enough????

Oh that's right. Jobs.

Perhaps those in favor of AY could support the shortfall by making donations to Ratner directly? Or invest in FCR? God knows he needs the money.

Posted by: Johnny at June 13, 2008 9:48 AM in response to Key Form of AY Arena Financing Appears Shaky

I rent half of mine out so I can make money. Out of pocket, I pay for an apartment but get the long term gain from a house. Plus, my accountant likes all the improvements I make to the rental property.

Happy retirement to me . . . y'know, in theory ;-)

Posted by: Johnny at June 11, 2008 2:17 PM in response to House of the Day: 241 Carroll Street

I live in an identical house a block away. So clearly it's priced to move and I can't imagine it going for less than full ask ;-)

Outside dimensions are 20 by probably 45. So roughly 2700 square feet. Lot size looks short though. Tough to tell from skimpy pics. Is the apartment on the bottom? If so, no garden access from the upper duplex or is a deck hidden somewhere?

A very well restored 1 fam in need of new kitchen and 3rd floor bathroom went for 1.9 late last year. This looks to be in not quite as good shape.

Posted by: Johnny at June 10, 2008 4:27 PM in response to House of the Day: 520 11th Street

"The media will follow suite." BRILLIANT!!!! Wait . . . you were joking right?

When the affordable housing component went from integrated into each development into the fictitious "last stage" of AY (right, we didn't see THAT coming), this went from proposed public good to theoretical public good.

And if that's legal, I need to seize some property to build me a strip club . . . I mean orphanage.

Posted by: Johnny at June 9, 2008 5:32 PM in response to Today in AY: FCR Rally Panned; Amicus Brief Filed

Of course Ratner wants the stadium built. The entire excercise is based around strategically aligning the Nets with the sweetest stadium deal in the country. Take a second rate basketball team acquired cheaply, give them a free stadium* and what do you have - a basketball team that's worth several hundred million dollars more than it was.

As for Newark, the alignment there is whenever NYC wanted to renew their lease at, say more favorable terms to the city, relocation to Newark is held as a bargaining chip for Ratner. The brilliance of it is that the city is then forced to give him even more money (thereby further increasing the value of the Nets) or we're left with an empty stadium . . which we taxpayer paid to build.

* free to Ranter, not to us. $500 mil in taxpayer subsidies for the stadium and $20 mil/year from Barclays = pretty much free.

Posted by: Johnny at June 9, 2008 12:42 PM in response to Today in AY: FCR Rally Panned; Amicus Brief Filed

Supply is 1200 units for all of Brooklyn. And Ratner's (allegedly) building 6,400 units over the next 7-10 years.

Luckily for Ratner, the generous subsidies we're providing will allow him to make a profit even as prices fall.

Posted by: Johnny at June 6, 2008 12:11 PM in response to Red Nabes Lose: Condo Price Cuts all the Rage

Lived on State Street for a lot of years while detention center was operational. Only closed in '03. No big deal whatsoever from a quality of life standpoint. And the bail bondsmen on Atlantic are probably thrilled.

Posted by: Johnny at June 5, 2008 4:49 PM in response to Commissioner Horn Answers Questions About HOD

Sorry if I'm confusing the point but what, if anything, does the commercial space do to things like your insurance and gas/electric/mortgage rates?

Posted by: Johnny at June 5, 2008 12:04 PM in response to How Much is Commercial Space Worth?

The difference being the amount of public funding that's taking place with the Nets. An order of magnitude greater than the tax breaks we give other teams.

It would be far cheaper to simply buy them from Ratner than to build them a stadium that they'll use for a few years.

One potential solution - Pro-AY folks invest in FCR and raise the roughly $1 billion for the stadium themselves. 1,000 investors with a million dollars each (or a million investors with a thousand bucks each!) and then let the free market dictate whether a stadium is worth the cost.

Posted by: Johnny at June 3, 2008 12:17 PM in response to Rally Round the Mega-Project

Legitimate opponents are those whose taxes are building this mess.

Posted by: Johnny at June 3, 2008 11:14 AM in response to Rally Round the Mega-Project

We've survived Real Housewives. And we'll make it through The Real World if we all stick together. . . .

Posted by: Johnny at June 2, 2008 1:04 PM in response to Time to Start Getting Real, Downtown!

If - and I do mean if - Ratner builds the 6400 units he's planning over, say 5 years, leaving aside al the other issues, what percentage of the areas total supply of apartments would that 1280 apartments/year be?

Posted by: Johnny at May 28, 2008 9:44 AM in response to REBNY Condo Market Report: No Need to Panic (Yet)

Fairly typical. I rented my old apartment back from buyers for a month. Lawyers drew up tight language. Only issue is, as above said, their closing gets pushed back, someone's inconvenienced. If it's a good offer, then maybe worth the additional (probably minor) hassle. Good luck,

Posted by: Johnny at May 27, 2008 9:51 AM in response to Use and Occupancy

Was down by barge music. The oohs and ahs from the tourists were almost as loud as the fireworks. Brilliant.

And what I don't understand about the sign is that they go our of the way to light it when it's broken - which it is 10-15% of the time. What kind of moron advertises a communications company with a broken neon sign. All of that electricity to provide everyone in New York with a negative impression of their company.

There I'm done. Gonna put my mind back on the pretty fireworks. . .

Posted by: Johnny at May 23, 2008 12:31 PM in response to Thursday Blogwrap

I forgot as well. But the fireworks and lights were just stunning. A real New York memory.

Although it's a shame that the backdrop from my angle was the god-awful verizon sign. Part of it was out, as is often the case. Wish they'd just turn the damn eyesore off at night.

Posted by: Johnny at May 23, 2008 11:38 AM in response to Thursday Blogwrap

If it's a large established, multi-branch firm then the odds are you're very much fine and the agent is just bringing the signed lease to the little old ladies. They wouldn't risk their rep for a few grand.

I signed the lease at the same time as the tenants and took my deposit from them. But I'm not a little old lady. Probably nothing to worry about but request to have the old girls sign first before you hand your loot over is a very reasonable solution.

Good luck!

Posted by: Johnny at May 22, 2008 9:18 AM in response to Agent wants fees, security, first month etc. BEFORE I receive lease?

I won't speak for all of my fellow anti-AY crazies but I did say that property near this mess would be worth less. Two words, not one.

Aside from projecting market direction based on a sample of , well, one, the impact of 6400 new apartments (demand and . . .what. . . anyone . . . anyone) around the corner and a few million tons of construction materials being trucked through the streets might exert a little downward pressure, no?

But I'm sure having the Nets more than makes up for it.

Posted by: Johnny at May 20, 2008 12:31 PM in response to Last Week's Biggest Sales

Was told at some point that banks would "allow" 80% of rental income. But there may well be other variables - such as if the rent's a big chunk of total income, what, if anything, does that do to the loan rate?

With that downpayment I'm sure you can make something happen. A good mortgage broker (I know one if you want a name) can help you.

Good luck - and welcome back!

Posted by: Johnny at May 19, 2008 4:45 PM in response to Financing strategy?

Yep, Jay-Z's "support" of the Nets is just a different type of paid lobbying. Paid for with our tax dollars because the guy we're giving $2 billion to is already broke.

$2 billion of taxpayer money, $20 million a year in naming rights for the stadium that we're building him and he's broke.

Done deal my a$$hat.

Posted by: Johnny at May 16, 2008 3:05 PM in response to Barclays Center Luxury Suites Hit the Market

Canceling all arts funding to make up the $2 billion handout to Ratner is certainly . . . novel. Teeny problem is Ratner's $2 billion subsidy is 15-20 times to total arts budget for the city.

Granted, we could certainly close every institution that receives any subsidy at all for the next 20 years. Might be a bit of an economic hit there. But maybe the millions of tourists that used to come to New York every year for the culture could just go to a Nets game instead? There'll be plenty of seats available.

Posted by: Johnny at May 16, 2008 12:25 PM in response to Barclays Center Luxury Suites Hit the Market

At least we didn't waste the $2 billion of taxpayer money on stupid things like improving our schools, expanding public transport, lowering property taxes . . . .

Posted by: Johnny at May 16, 2008 9:37 AM in response to Barclays Center Luxury Suites Hit the Market

I saw this place a couple of years ago. The IM Pei-ness of the place was a tad underwhelming. Downstairs apartments not great condition but with a facelift (perhaps already done) some decent rents to be had.

Pretty big pad. But IM Pei didn't facilitate any outdoor space from upper duplex which, along with the price similar to today's, kinda killed it for me in '06.

Posted by: Johnny at May 15, 2008 2:46 PM in response to House of the Day: 491 3rd Street

Just bought three barrels of it at Lowes on 9th/10th and Smith. They have several brands in the roofing area. $50-$60 a barrel. 3 was enough to do 2 coats of 900 sq. ft.

Posted by: Johnny at May 12, 2008 1:24 PM in response to Silver Roof Paint

I lived 12 years in a small self-managed building. 11 of them were great. Cooperative in every sense of the word. Occasional bad apple but nothing terrible.

Challenge comes when you have income/desire to do stuff like upgrade the boiler and others don't/don't want to. Still, I think it's a better situation (most of the time) than living in a large building and essentially having no say whatsoever.

As for the poorly kept records, it's likely just that. A small group with no great desire to spend time on stuff they only need once every X years. We went through the same transition - once prices took off in the early 00's, far more turnover and far more buyers looking for details, as they should. So perhaps not a sign of malfeasance.

HOWEVER, one question I'd have. If it's only 40% deductible, then property taxes and underlying mortgage interest are fairly low. What's the other 60% x 5 units being spent on? Oil is certainly one. . . .

Good luck!

Posted by: Johnny at May 9, 2008 3:59 PM in response to Advise Needed - Co-Op

I wonder how many of my tax dollars went to Gehry to produce this, admittedly nice, rendering.

Posted by: Johnny at May 6, 2008 4:40 PM in response to Closing Bell: Gehry's Arena Turns Blue

I've had one problem with obnoxious parent/child in the two years I've lived in the slope. Child bumps into me. Mother makes snide remark under her breath about me not watching where I'm going. I publicly correct the misguided mother.

Hardly a life-altering event.

Posted by: Johnny at May 6, 2008 10:51 AM in response to Slope Stroller Overabundance Making One Guy a Shut-In

I'm vehemently opposed to the scale, cost, corruption and pollution that is Atlantic Yards. Why it matters I'm not sure but my family's been in Brooklyn for more than 80 years now.

Underwriting a $4 billion project to the tune of $2 billion would be odd if it weren't my money that's being stolen. Not entirely sure how 6,400 apartments down the street from my house will improve the value of my property. Guess some folks like constant gridlock outside their houses. Me, if I wanted to live opposite Madison Square Garden I would.

We could have bought the Nets several times over for what we're paying to move them across the river for a few years.

And we should keep in mind that we're not getting a sports franchise. We're leasing one that Ratner owns. When - or before - the lease is up, he'll renegotiate for more tax-payer subsidies. That's what pro teams do. And at that point, we either give him more money or he relocates the team and we're left with an unused stadium . . . that we paid $2 billion to build.

Posted by: Johnny at May 5, 2008 12:45 PM in response to Atlantic Yards or Atlantic Lots?

BRAVO!!!!

Let these selfish A-holes look for parking like the rest of the city. Could be wrong but the road outside my house isn't actually my property. Blocking it for my personal use aint exactly my divine right.

Posted by: Johnny at April 28, 2008 9:27 PM in response to Clamping Down on Curb Cutting

I believe 9:40's right. Technically I believe it's 30 days notice from the end of the calendar month that you're in. It definitely is for the landlord, it probably is the same for tenant.

Meaning if you give notice to vacate April 30, then you're fine leaving May 31. But if you give notice May 3, then it's June 30 you leave, not June 3.

Posted by: Johnny at April 24, 2008 9:23 AM in response to Shady landlord lease question

What it didn't say -

"We paid $50 million less than the other guys and haven't paid the city a dime yet. Let's change the topic to how many units of affordable housing we might build in 10 years or so assuming we get more money from the taxpayers."

Posted by: Johnny at April 23, 2008 5:59 PM in response to Wednesday Blogwrap

Bikers get half the space and are, what, roughly 5-10% of the volume? The speed, the obnoxious yelling. At some point the city will get sued after a collision and that'll be the end of the bike lane.

Posted by: Johnny at April 18, 2008 7:46 AM in response to Closing Bell: The Brooklyn Bridge on Two Wheels

Had a similar problem in my old apt. No matter what I did glue kept making the paint I put up to replace wall paper bubble. Nice, relatively affordable solution - 1/4" sheet rock. Worked like a charm. Granted, I was dealing with a much smaller space, and not a rental.

Posted by: Johnny at April 15, 2008 8:52 AM in response to How Much Are Smooth Walls Worth

It was originally briefly listed for $20 mil. Once owned by a college professor (Brooklyn College if memory serves) and childhood friend of Warren Buffet's who's widow left about $750 million to various Brooklyn charities (the benefits of investing with Warren for 50+ years). House was a bit of a dump apparently. According to a pretty funny NYT article some years ago, they lived very frugally.

Bought by Wall Street money and, one would guess, massively renovated to today's whopper of an asking price.

Posted by: Johnny at April 10, 2008 5:01 PM in response to Closing Bell: Liv Tyler Moving to Brooklyn—Or Not

I want 2 out of 3 trains on the F/V track in Manhattan to be an F.

Posted by: Johnny at April 2, 2008 10:42 AM in response to Council to Grill MTA About G Train Service

We live in the most free country in the world and yet I can have my phone tapped without a warrant and now apparently I can have my home seized if someone wants to build a stadium for their sports team.

What's that line about vigilance being the price we pay for freedom? Guess we fell asleep at the wheel.

Posted by: Johnny at March 31, 2008 2:01 PM in response to Docs: Low Disclosure Req'd From Ratner For ED Seizure

True. But we won't suffer from massive congestion, overbuilding and the fiscal effects of a $2 billion handout to Ratner. Woo hoo!

Wonder if Con-Ed's AY-related price hike gets retroactively cancelled or if we're all going to be paying increased rates for infrastructure not built.

What amazes me though is that a project the size and expense of AY was started with a firm that couldn't weather something like this. I get the idea that capital market woes affect everyone to some degree but given FCR's lack of real capital, we might be lucky that this mess got cancelled now versus when it was half done - all on the public's dime no less.

Posted by: Johnny at March 28, 2008 10:16 AM in response to Mega-Projects Dropping Like Flies

oh THAT'S Ratner. I saw him in a Bentley on 7th Ave. Maybe he can sell that to raise some money. At the very least he could let me borrow it. After all my taxes paid for the $%#$ing thing.

Posted by: Johnny at March 27, 2008 12:02 PM in response to Is Bruce Ratner Out of Cash?

For handmade, non-run-of-the-mill stuff:

http://www.timorousbeasties.com/

or studioworks.com.

Posted by: Johnny at March 23, 2008 11:19 AM in response to Sources for wallpaper

The same day that the Times ran the article about AY, it ran an article about huge budget cuts in the same system. Any rational person would want to know why we can't support our schools but have $2 billion to underwrite the Nets and Ratnerville.

This is a great day for Brooklyn. Now let's hope something appropriate for the area gets built - with a lot less of taxpayer money.

Posted by: Johnny at March 22, 2008 9:25 AM in response to Endangered AY

Thank god we've still got the $2 billion to construct Ratnerville.

Posted by: Johnny at March 20, 2008 11:30 AM in response to Parents Slam School Budget Cuts

It should be noted that the figure of Ratner clearing (bilking) the NY taxpayers for $116 million on day 1 doesn't factor in the additional value of the Nets created by us building them a stadium. Even though they suck, that figure is likely to be in the hundreds of millions of dollars.

Yeah I know, jobs. But the question most people ask when paying for something is not just what we'll get, but how much money it's going to cost.

We didn't get screwed. We screwed ourselves. It's our fault for letting this happen.

Posted by: Johnny at March 19, 2008 10:32 AM in response to Ratner Feasts on Public Subsidies

Did a really big basement cleanup several years ago. Called a number on the side of a dumpster I saw. For an extra couple of hundred bucks they sent two guys over for the day to help me with the dirty work.

Posted by: Johnny at March 17, 2008 3:27 PM in response to Garage/Basement Cleanout

Had water gushing into my basement in heavy rain. Thought it was a structural thing but turns out was water backing in through a hidden drain. When it rained hard, the drain would back up from the street drain. Big mess.

After a bunch of plumbers and contractors didn't help. Called Sessa plumbing. Weren't cheap, but they figured it all out and resolved with a simple valve on the drain. For potentially large, complex plumbing-related gigs, that'd be my recommendation.

Good luck!

Posted by: Johnny at March 9, 2008 11:38 AM in response to Engineer to Assess Basement Water

Developer buys plot. Developer crams as many units as he can get away with on plot. Everyone else except the developer deals with pollution, congestion, rising utility rates, even more cars and even worse conditions on the subway and even more #$%ing people crammed into the F train, on those rare occasions when the $%#$ing thing shows up.

One of those mornings ;-)

Posted by: Johnny at March 4, 2008 10:13 AM in response to Meeting on Toll Proposal: Agitate, Educate, Organize

My basement flooded in heavy rain 'cause some bright spark attached a drain in the middle of the basement floor to the sewer line and then built a floor over it so we couldn't find the thing.

In heavy rain water backed up through the drain into basement. Solution was an overflow valve where the storm drain leaves the building. Excess overflow from heavy rain no longer comes back into the building. . . thus far ;-)

Posted by: Johnny at February 28, 2008 11:48 AM in response to Sump Pump Info Needed

If we could all reach a little deeper into our pockets, this doesn't need to happen. Remember, massive overdevelopment funded by our tax dollars is the only path to righteousness!

Posted by: Johnny at February 28, 2008 9:35 AM in response to Soaring City Tech Tower Cut Down to Size

Actually there were several bids on the property. Ratner's was I believe, the lowest. There's no shortage of people looking to develop New York.

Should be mentioned that his political contributions and PR costs are significant, even if his bid for the yards wasn't.

Posted by: Johnny at February 26, 2008 12:17 PM in response to Atlantic Yards Scope Trimmed; Funding Still Fuzzy

Ratner's a visionary the same way Michael Milken's a visionary.

With Ratner out of the picture the blight could be developed well, instead of 6,400 apartments and a stadium creating the densest living environment in the US. And the taxpayers wouldn't have to pony up $2 billion.

Maybe we can give Ratner his deposit back. Sell to the folks that bid $100 million more for the site (and wanted to create a smaller, nicer development) and it's win-win for the developer and for Brooklyn.

Posted by: Johnny at February 26, 2008 11:50 AM in response to Atlantic Yards Scope Trimmed; Funding Still Fuzzy

The destruction of Ratner's brownstone will create a few jobs for a little while. According to my calculations, it will generate $732 million in tax revenue and should therefore be underwritten to the tune of at least $500 million. Let me know where I can pick up my check.

Posted by: Johnny at February 25, 2008 5:36 PM in response to Closing Bell: Ratner Gets Sued; Ward’s Doomed

Once again the debate is framed by pro-AYers as "You're either with us or you're against development." An approach that's too silly to take seriously, but . . .

The yards themselves weren't sold to the highest bidder. They were sold to the second-highest bidder at a price that was $100 million lower than the best bid. Some folks might wonder why.

The yards could have been developed in a manner that provided jobs, taxes AND a benefit to the community at a price that cost the city less than it stood to gain from the economic development. They simply weren't.

In this case, the developer isn't taking a huge risk. His risk is being underwritten by the taxpayer to the tune of $2 billion. Ratner's assuming 50% of the risk while standing to benefit from 100% of the profit.

This excludes the increase in the value of the Nets that comes from us building them a stadium.

Posted by: Johnny at February 25, 2008 10:24 AM in response to Where’s the Dough for AY Affordable Housing?

It is indeed a form of wealth redistribution - wealth is redistributed from taxpayers like ourselves to the developers of "affordable" housing.

You're also seeing wealth redistribution via Con Ed. They're using the AY infrastructure build out as a reason to justify hiking all of our bills - starting this year.

How personal wealth is impacted by 6,400 apartments going on the market is something some folks might want to consider as well if you're worried about income redistribution. Given the size of our funding ($2 billion on a $4 billion project), Ratner can weather a downturn in the market caused by such a glut. Folks without billions in subsidies (y'know like us) won't be so well insulated.

Still, we'll always have the Nets. Just try not to think about the fact that we paid Ratner $2 billion to move them across the river for a few years.

Posted by: Johnny at February 25, 2008 10:04 AM in response to Where’s the Dough for AY Affordable Housing?

Don't worry. If the yards get built, you won't see this for 10 years because of the construction dust and after that, 'cause of the smog.

Posted by: Johnny at February 22, 2008 11:03 AM in response to Atlantic Terminal Station Gets Glassy

Maybe if we gave Ratner another billion or two the numbers would work better.

Posted by: Johnny at February 20, 2008 9:18 AM in response to Ward's Watch: Prepping By The Parapet

It's not jealousy. Rather, I fail to understand how some people get a guaranteed parking spot for their tax dollars.

Posted by: Johnny at February 19, 2008 6:23 PM in response to create a parking spot at brownstone??

Lived in a 10 unit self-managed co-op for a lot of years. Was sometimes a bit of work - but the flip side is lower maintenance, which over the long run kept a lot of money in my pocket and probably bumped the resale price a bit.

Not for everyone, but worked for me.

Posted by: Johnny at February 17, 2008 9:37 AM in response to Small co-op duties?

Would now be a good time to mention the $2 billion we're giving Ratner to move the Nets?

Posted by: Johnny at February 13, 2008 3:25 PM in response to Budget Cuts Threatening To Cramp P.S. 321's Style

AY is a great sales pitch if you like TGI Fridays and don't live anywhere near it. More attractive yet for those from out-of-state that aren't underwriting the $2 billion handout.

Posted by: Johnny at February 12, 2008 11:44 AM in response to One Hanson’s Penthouses Tower Units Hit the Market

The financial viability is still sound, because we're giving Ratner $2 billion. On a $4 billion project that's a corporate welfare deal that would make Halliburton blush.

Posted by: Johnny at February 11, 2008 3:51 PM in response to Atlantic Yards Shutterbugs Meet Up

Had exactly the same problem. Balustrade was crappy veneer. Bannister itself was beautiful Mahogany. After taking out a few chunks, painted the former and stripped the latter. Looks really nice. Top of balustrade is also Mahogany so the line of finished wood ends on the top of it.

I like how it came out.

Posted by: Johnny at February 8, 2008 12:47 PM in response to Newel post veneer

Turns out that the alleged $4 billion in tax revenue AY was supposed to generate (used to justify the $2 billion NY taxpayers are giving Ratner) wasn't in fact an audited number devised by the state. It was a number essentially made up by Ratner's PR team.

Marty's a crook. he sold us down a river of debt, congestion and pollution. Waving and smiling at the occasional parade doesn't get him off the hook.

And cheering for the Nets? We're paying $2 billion to move Ratners basketball team over the river and build them a stadium. It would have cost us 25% of what we're paying to buy the damn team outright.

Posted by: Johnny at February 8, 2008 10:00 AM in response to Marty Talks Growth, New Projects

I swear I walked past this house a ton of times and could see through it. Nothing but sticks!

And the house that went for 1.3 is interesting. Was for sale for 875k about 5 years ago. Teeny thing. Literally no finish whatsoever. Was an artists studio - with no heat and no hot water. Sold to a developer who did a nice job but the place is basically three studios on top of each other. Small kitchen and dining space (not room) on the ground. Open bed and small bath on 2nd floor, open bed and small bath on 3rd. Stairwell runs through all the rooms with no dividers. No outdoor space.

That said, a great space for the right person.

Posted by: Johnny at February 7, 2008 7:48 PM in response to House of the Day: 72 Middagh Street

Went by this house many times while it was being done. Was one step away from a complete rebuild.

Posted by: Johnny at February 7, 2008 3:32 PM in response to House of the Day: 72 Middagh Street

How is 427 10th a 4 story? Are they counting a finished basement?

Posted by: Johnny at February 4, 2008 12:06 PM in response to Last Week's Biggest Sales

Correction to post at 10:31 in caps -

A developer wants US to spend BILLIONS to bring HIS professional sports franchise here.

Posted by: Johnny at February 4, 2008 9:50 AM in response to Another Anti-AY Suit Gets Tossed

I wish people were better informed.

The densest housing in America. Madison Square Garden sitting next to a housing development that's larger than Battery Park City, all on an interesction that's already a congestion nightmare.

The question (to those that graduated high school) is not whether this will create jobs, it's whether there's $2 billion of net benefit. Read the traffic study. Go to the Garden after a game and say "Boy do I wish I lived a block away from this." And then say "Boy, aren't I glad I did nothing while $2 billion of my tax money went to recreating midtown Manhattan in my neighborhood, where I used to be able to live."

Posted by: Johnny at February 1, 2008 12:26 PM in response to Another Anti-AY Suit Gets Tossed

The other interesting factor is the roumours of a Jason Kidd trade. Making the Nets one step closer to being both useless and worthless . . . . until we build them a stadium of course. Then they'll just be useless.

Posted by: Johnny at January 28, 2008 7:22 PM in response to Is Atlantic Yards Funding in Jeopardy?

Said it once and I'll say it again, this is a great deal if you happen to own a basketball team.

For the rest of Brooklyn, we're out $2 billion dollars and have congestion, pollution and a losing basketball team to show for it. Woo frikkin' hoo.

Posted by: Johnny at January 28, 2008 6:03 PM in response to Is Atlantic Yards Funding in Jeopardy?

I'm of the opinion that many brokers - want fast sales. Which means they're gonna give you a low number that will cut down on their work.

Certainly listen to them but there's no substitute for researching other apartments in same neighborhood/similar condition and seeing what they go for.

Online helps. But sneaking into a few open houses and seeing for yourself what's out there at what price points will get you a better frame of reference. And aim high . . . unless you're selling to me in which case it's a piece of crap apt and I'll be doing you a favor taking it off your hands ;-)

Posted by: Johnny at January 25, 2008 3:59 PM in response to dontwanttobelaughedat

You go.

GRD Flooring did a great (and reasonable) job staining dark and refinishing my floor.

Looks beautiful. Only thing is you have to paint the walls very light.

Posted by: Johnny at January 24, 2008 1:32 PM in response to stain maple floor

Raise my taxes to the sky - all I ask is the occasional evening F train that's not packed to the gills.

Posted by: Johnny at January 23, 2008 12:24 PM in response to How Will Spitzer’s Budget Affect Real Estate?

Some truly vile comments on this thread.

Posted by: Johnny at January 22, 2008 11:51 AM in response to ‘Commune of Creative Types’ in the Burg is Emptied Out

Please, stop being so selfish and think of poor Bruce Ratner! You're out there wasting money on garbage pickups and cops, while Bruce is getting by on a mere $2 billion handout from us.

If we are all willing to have our taxes raised more and services cut, maybe we can ease his suffering and come up with another billion or so.

You know it's right.

Posted by: Johnny at January 18, 2008 9:36 AM in response to State of the City: $3.1 Billion Deficit

My Con Ed bill is already going up because of this project. Does that give me rights or not? Ditto $2 billion of taxpayer money. Does that count?

Posted by: Johnny at January 17, 2008 10:55 AM in response to AY Appeal Denied, Construction Headaches Begin

10:00, ou're right about one thing. Flatbush will look like 34th street. And brownstone Brooklyn may eventually look like midtown Manhattan. But I choose not to leave. I love Brooklyn and see my home as being more than a development site for the likes of Ratner.

You can sit back and let us get robbed blind under the guise of "progress." Me, I'd rather at least try do something about it. Development in scale to the space could have been great - and profitable - for all concerned. But instead we got conned.

Posted by: Johnny at January 17, 2008 10:15 AM in response to AY Appeal Denied, Construction Headaches Begin

This myth of Ratnerville being good for the economy is absurd. The correct question is whether it's $2 billion good for the economy -

Yes we get some jobs. Yes we get some new taxes. We also get -

Massive increases in traffic and pollution forever. Cost unknown but quality of life reduction for many will be huge and permanent. Deduct that.

We're forced to spend hundreds of millions on upgrades to .. . . everything from subways to water to sewers. In fact, Con-Ed is already using AY as part of their rationale to increase rates for all of us - forever. Deduct that from the supposed economic benefit.

6400 new apartments will depress the real estat emarket further. Doesn't matter to Ratner because taxpayers underwrote 50% of the development. He can lose 49% on the deal and still make money. The rest of us aren't so lucky.

There was nothing to stop this area being developed in a way that would have provided much more real benefit - to us and to Ratner's bloated wallet. Corruption, apathy and ignorance beat us.

Posted by: Johnny at January 17, 2008 9:43 AM in response to AY Appeal Denied, Construction Headaches Begin

$2 billion of our money to wreck our own neighborhoods. These poor folks will be dealing with this for 10 years.

On the plus side, thanks to our tax dollars building a stadium the value of the Nets just doubled. Good news for their owner, whoever that is.

Posted by: Johnny at January 17, 2008 9:10 AM in response to AY Appeal Denied, Construction Headaches Begin

Yep. The worst that can happen aint that bad. Go for it.

I think the price per square foot measure is extremely iffy for houses. Quality can vary hugely and I've always found houses to vary by location within a block, not just neighborhood. I live in the South Slope and I love it, but there's a few blocks that I don't think hold up as well as mine (snobbery on my part!) In that sense, measuring relative value by $/sq ft isn't that helpful to me.

Good luck!

Posted by: Johnny at January 17, 2008 7:53 AM in response to Park Slope price per sq. foot- what is reasonable?

I believe you can raise the security when you raise the rent because a new lease is in effect. When I lived in a large building my rent and deposit were increased at year-end. As a brownstone landlord I would never do this to a good tenant.

Posted by: Johnny at January 16, 2008 10:17 AM in response to Security Deposit increase or not?

Actually looked into this as was dissuaded quickly. Bank won't lend you (your LLC) money at anywhere near the same rates. The increased protection you're looking for can also be construed as less recourse for the lender. Hence their desire to charge for it.

Posted by: Johnny at January 15, 2008 5:54 PM in response to To create an LLC or not...

A third term of GWB would be slightly better than a global attack of the zombies from 28 days later.

Anyone not currently working for Ratner should actually look at the traffic study. it cited gridlock as far away as Atlantic Avenue and the water. The public transportation issue is irrelevent - construction is going to last 10 years.

When the major traffic arteries get clogged (y'know, 2 days after the 10 years of construction starts) many of Brownstone Brooklyn's side streets will become noise and pollution-riddled parking lots. Permanently.

Posted by: Johnny at January 14, 2008 1:51 PM in response to Anti-AY Lawsuits: And Then There Was One

$2 billion for this. We were robbed, conned and lied to.

As disgusted as I am with this development and all of the crooks involved, I'm thankful that I live a little ways away. For me the traffic, congestion and pollution will probably be manageable. For many, there'll be no escaping the harm this overfunded overdelopment will cause.

Ratner must be laughing his ass off at us right now. We're paying him $2 billion to wreck our own neighborhoods.

Posted by: Johnny at January 14, 2008 10:14 AM in response to Anti-AY Lawsuits: And Then There Was One

All of the above PLUS the cost of healthcare and oil will be two more anchors on recovery.

Posted by: Johnny at January 11, 2008 9:28 AM in response to Impending Rate Cuts: Good News for Real Estate Market?