LilBitOfLuck's Profile
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northslope, are you also against the mortgage interest deduction? that too inflates home prices.
Posted by: LilBitOfLuck at November 18, 2009 1:51 PM in response to A Few More Sales Trickle In at BellTel
Money laundering
Posted by: LilBitOfLuck at October 14, 2009 11:35 AM in response to Last Week's Biggest Sales
St. James and a user account on daily heights? LOL, we'll see. Speaking of idiots, Bill Thompson will be speaking tonight - should be a barrel
Posted by: LilBitOfLuck at October 13, 2009 1:10 PM in response to 1,500 Rental Units for DoBro
Let's see, renovated 1 bed on "Franklin" (feel free to insert your street of choice) for $1500 or brand new "cookie cutter" with in unit w/d, a building full of amenities, and a one stop ride to the city.
Disadvantage, Franklin.
Posted by: LilBitOfLuck at October 13, 2009 12:44 PM in response to 1,500 Rental Units for DoBro
If Guiliani hadn't forced his way into a third term after 9/11 NYC would have been obliterated by a nuke by now ...
Posted by: LilBitOfLuck at October 7, 2009 1:40 PM in response to Prices Drop at the Oro Tower
awesome billboard
Posted by: LilBitOfLuck at September 25, 2009 9:56 AM in response to Friday Links
Generously sized studio with great light. Price seems to be all about location and roof deck.
Posted by: LilBitOfLuck at September 23, 2009 4:49 PM in response to Co-op of the Day: 8 Sidney Place, #5
Really spacious. Bedrooms you can actually fit real furniture into. Price doesn't seem out of line for Dumbo.
Posted by: LilBitOfLuck at September 17, 2009 1:10 PM in response to Condo of the Day: 30 Main Street, #2C
Price chops at One Hanson are significant. Not just in $$$ but in impact to competition.
Posted by: LilBitOfLuck at August 27, 2009 1:57 PM in response to Co-op of the Day: 269 Clinton Avenue, #D2
If you think you can qualify for a affordable condo purchase plan with little or no income, you're dreaming! Here's a guideline, if your downpayment would require you to get PMI - you have no chance in the current lending environment. If your debt to income ratio is worse than 40%, forget about it.
If one of these newly affordable 1 bedroom condos will now sell for 300K, that means unless you have 60K plus closing costs in hand, plus earn at least 75K/year or so, you won't qualify. It satisfies a sense of victimization that many on this board have to feel that some welfare queen is getting a break that you're not, but it's time for a reality check. Affordable does not mean what you think it means.
Posted by: LilBitOfLuck at August 25, 2009 10:57 AM in response to Mystery Downtown Development Going Affordable
Is the photo of the exterior accurate? The listing says central air but the exterior shot shows window ac units on each floor. Also, the living room and kitchen shots show 3 windows each. Even if they are overlapped by one, there would be 5 windows which doesn't seem to jive with the exterior shot (unless those side by side building are joined from the inside). I can see why folks like this place, it does feel nicer and more spacious than most new builds but I have a feeling "liberties" are being taken with the photos.
Posted by: LilBitOfLuck at August 12, 2009 1:21 PM in response to Condo of the Day: 445 3rd Avenue, #201
Condo Shame? So much so that they agreed to spill their guts to a newspaper? The premise of the article is utter nonsense. Are people in this town so superficial that even housing choices have to be rationalized? Live where ever the hell you want. You have the option of not basing your identity on your address.
Posted by: LilBitOfLuck at August 12, 2009 10:18 AM in response to Fear (of Condos) and Self-Loathing in Williamsburg
Another option for lower priced bikes are models from prior years (the '07 version, for example). Talk up your local shop owner because they may have older inventory they're trying to move.
Posted by: LilBitOfLuck at May 27, 2009 5:01 PM in response to StreetLevel: Bike Shop Gets Rolling on Bergen
Funding advocacy is one thing, obfuscating your role in the elevation of a politician that will have direct influence on your lucrative projects is something else.
Posted by: LilBitOfLuck at March 27, 2009 12:09 PM in response to Ratner Money Fueling Challenge to James' Council Seat?
I don't know how this fits into your business model but maybe the open thread can be moved to a separate tab or even separate message board. It would give the usual, err, dirty dozen a place to rif on whatever that day's topic is while hopefully keeping the main board free(er) of the inanity.
Posted by: LilBitOfLuck at March 27, 2009 11:21 AM in response to Let's Talk About Commenting
Re Sunset. I live on that block. While the houses aren't brownstones, b/c of the school across the street, the block is quieter and less crowded than most in Sunset, and parking at night is a breeze. The yellow house has been on the market for a while. The owner did some nice cosmetic work to the facade - of the vinyl clad houses on the block (which is most of them), this is easily the nicest looking.
Posted by: LilBitOfLuck at March 6, 2009 3:25 PM in response to Open House Picks
Fulton may attract folks who (generally speaking):
Do less shopping online giving their preferred retailers more foot traffic
May not have as much credit so utilize stores that offer layaway
May not have personal transportation so find all in one shopping districts like Fulton convenient
May not feel comfortable or find the products they're looking for in more upscale shopping districts
May find nostalgia and charm in the district
All of these could be reasons for why Fulton is doing well.
Posted by: LilBitOfLuck at February 27, 2009 11:03 AM in response to Fulton Mall Appears To Be Bucking Retail Downturn
a lot of jumbled stuff in your post.
1. Hire a lawyer
2. The offering plan is often lengthy - and should be reviewed by your lawyer
3. Sponsor sales are not subject to Board approval
4. Contracts for real estate MUST be in writing to be valid.
5. See #1
Posted by: LilBitOfLuck at February 18, 2009 3:08 PM in response to First Co-op Purchase. 300 pages?
LilBitOfLuck wrote a review about Pete's Waterfront Ale House on February 13, 2009 1:54 PM
Always a solid choice when I'm in the area. I appreciate the good beer selection and way above average bar nibbles. Food is probably a 3.5 from me. Too bad there isn't a "Bar" tab to vote on - I'd vote 4 stars in that category. Instead I'll give ambiance 4 stars.
Definitely a good sign. Times have changed in South Brooklyn, supermarket owners have responded to the changing neighborhoods with nicer stores and better products. Even my local Bravo (48th and 4th) carries Dog Fish Head 90. Hooray Beer!
Posted by: LilBitOfLuck at February 3, 2009 2:48 PM in response to Streetlevel: C-Town Takes Over in Greenwood Heights
Coops may do better in a down market is true - as long as you are not trying to sell. Reselling a coop can be tough in ordinary times, but especially in a stagnant or falling market. Boards can be "overly" obsessed with comps and ding a lot of deals they feel will hurt other sellers (themselves). That's great for people who plan to stay for a while, or who don't need to sell. But don't be the person who needs to sell b/c even if you'd be willing to accept - to use the parlance of so many on this board - an aggressive offer, chances are your board won't.
Condo common charges in new buildings can be high - often b/c they have expensive amenities to maintain (pool, etc.) But coop common charges have also risen a lot lately. Check out the common charges in BK Hts - often outrageously high.
11217 - are you saying that absent the coop's requirement, you would not have managed your money/finances sufficiently well to avoid a foreclosure today? I don't need a coop's rules to be fiscally prudent.
Noklissa, I think you meant to say condos pay a mortgage tax b/c they are real property, not personal property.
Overall I think coops tend to survive b/c they are conservative in nature. They The arrangement works for a lot of folks - not for me though.
Posted by: LilBitOfLuck at January 29, 2009 2:02 PM in response to Co-op of the Day: 30 Ocean Parkway 2 BR
Dave Brioso
www.briosolaw.com
Posted by: LilBitOfLuck at January 20, 2009 11:37 AM in response to R.E. Lawyer /affordable housing?
Chinese take out?
Posted by: LilBitOfLuck at January 9, 2009 4:55 PM in response to High Hopes for Hoyt Street?
LilBitOfLuck wrote a review about Hibino on January 7, 2009 1:07 PM
Had a great meal here recently. The daily Obanzai are a great value (assuming they haven't sold out when you order). A Japanese friend told me this is where she went for authentic Japanese cuisine though I didn't see many Japanese folks dining the night I was there. Decently priced Sake list. Overall, very nice.
LilBitOfLuck wrote a review about Wing Wagon on December 30, 2008 1:46 PM
Wings are kind of small. Decent but not as good as wings from 200 5th Ave or Bonnies.
... social distribution of credit to the underprivileged ...
um, no:
... whites (non-minorities) received 72.5% of subprime mortgages. Blacks got 16.2% of subprime mortgages, (and make up 12.4% of the general population), Hispanics about ... 6.2% of subprime mortgages (significantly less than their 14.8% of the general population)...
See Professor Bainbridge:
http://www.stephenbainbridge.com/index.php/punditry/they_make_you_embarrassed_to_be_a_conservative/
Posted by: LilBitOfLuck at December 19, 2008 10:34 AM in response to Tax Break Contributed to Bubble
LilBitOfLuck wrote a review about Beast on December 19, 2008 12:30 AM
I like having Beast in the neighborhood. Some things stand out, particularly the fried manchego, nothing has flopped. The vibe is cool and with a small plates menu, each meal tends to be interesting and varied.
Having lived across fourth ave from these (next door to Paul Signs), lemme just say, 4th down there is super noisy. Traffic looking to enter the highway at prospect (left or right turns), tend to back up along fourth. The sound of truck hydraulic brakes opening and closing, gears shifting, etc., engines sighing, takes some getting used to! On the plus side you're super close to Home Depot! :-)
AS for the commute, It's probly 40 mins to midtown unless you don't have to wait long in the station. The local to Atlantic eats up a big chunk of time. Once you switch to the express, it's no more than 20 to midtown 34/42.
Posted by: LilBitOfLuck at November 25, 2008 2:00 PM in response to Fresh Rentals at 639 Fourth Avenue
I would not want to be the owner of the most expensive comp in the building ... especially not these days
Posted by: LilBitOfLuck at November 25, 2008 1:42 PM in response to Co-op of the Day: 193 Clinton Avenue
LilBitOfLuck wrote a review about Nana on November 20, 2008 3:36 PM
This place is good. Not fine cuisine but offers a variety of dishes that are usually tasty and well priced. This is the kind of place its good to go to with a few people so you can have a meal with some variety.
LilBitOfLuck wrote a review about Black Iris on November 20, 2008 3:32 PM
That's ^^^ really unfortunate. Something that probably occurs in many restaurants but that isn't often seen by patrons.
Despite that I have to say I've always liked this place. Delivery is fast, food is tasty and affordable. Portions are good - my girlfriend and I are plenty satisfied sharing one entree and one app.
Ahh, Socialism. Only good when it's saving our capitalist asses. Screw that, I can't wait until he imposes the Koran and Gay Sex on us all. Incongruous, sure, but who cares??? I've been troubled, however, with why God would make the antichrist Black. I never thought God was into Affirmative Action. Barack's gonna get the job then become depressed when he realizes he's woefully unqualified. That's just mean, God.
Posted by: LilBitOfLuck at November 4, 2008 11:42 AM in response to Park Slope: The Blue Half of the Two Americas
LilBitOfLuck wrote a review about Joya and Song on October 28, 2008 9:58 AM
Always enjoy Joya, leave full, and with plenty of money left in my wallet.
LilBitOfLuck wrote a review about Luz on October 23, 2008 2:43 PM
If you choose wisely, can get in and out for not too much $$$.
Seems like a good idea. Cars travelling north on Fourth Ave can turn left on Flatbush and then right on Lafayette. Cars travelling east on Flatbush can turn left on Vanderbilt. Seems wise to keep traffic moving along the avenue that can handle it rather than the awkward and small entry to Hanson Place.
Posted by: LilBitOfLuck at October 23, 2008 12:08 PM in response to Coming Soon: Safer Streets Near BAM
If they have the time and energy to show and market the unit, good for them. Given their sense of style and design, I can see why'd they'd want to be in charge of the presentation.
Posted by: LilBitOfLuck at October 22, 2008 3:27 PM in response to Condo of the Day: 30 Main Street Loft
LilBitOfLuck wrote a review about Lobo on October 17, 2008 12:57 PM
I made the mistake of eating here once. Next time, I'll just microwave the Old El Paso entree myself.
Cute picture. That's all.
Posted by: LilBitOfLuck at October 13, 2008 5:20 PM in response to Berkeley Carroll Child Care Center to Close
Grand Army Plaza, so full of history and meaning ...
Switch to the 1 Hour Energy Drink, Sam.
Too bad this design didn't come from the Italians, I would have loved to hear your rant against their dismissive imperialism.
Posted by: LilBitOfLuck at October 8, 2008 10:27 AM in response to The French Win Grand Army Plaza People's Prize
Maybe the Downtown Brooklyn Partnership can give you more info?
info@dbpartnership.org
Posted by: LilBitOfLuck at October 1, 2008 4:10 PM in response to Flatbush Streetscape Improvement Pojrect
Thanks, FOF. I was careless with my example.
Truth is tyburg, the government spends lots on housing, affordable and market rate. Plenty of "market rate" buildings benefit from public money and there are no restrictions on those units.
For the lower income buildings, there are a lot of factors at play. Often, these projects are part of the price of doing business for a developer who wants to build "market rate" elsewhere, or for gaining certain easement rights, zoning variances, etc.
A developer like P.A.C.C is best viewed as a conduit for affordable housing development. Nobody wants the state or city in charge of this (not even the state or city), so these agencies fill a need. Their staff's shouldn't be underestimated; they're pros who might have mpa's instead of mba's, and the better run ones, especially in nyc, are able to draw talented people with credentials from top schools. These agencies tend to be much more connected to the communities where they build than your average developer.
Posted by: LilBitOfLuck at September 26, 2008 2:49 PM in response to PACC Spins Out Another Affordable Housing Project
Despite its rep as a cop hangout, I know quite a few neighborhood guys (the nabe being Sunset Park), small time hustler types, not Irish or Italian either, who hang out at Farrells. Birds of a feather ...
Posted by: LilBitOfLuck at September 26, 2008 2:28 PM in response to [Virtually] Duking It Out Over Windsor Terrace
The rules vary by development
In some, the buyer shares resale profits on a declining scale. For example. A buyer reselling within three years of buying would pay 100% of profit back to the developer. For resales occurring during between the 4th and 15th years, 50% of profit goes back to developer. Years 15-25, 25% of profit, etc. The resale price is whatever the market will bear.
In some developements the only restriction is income related, you have to sell to someone who qualifies under the same guidelines you qualified under. If you had to fall withing 195% of Area median income, so would any prospective buyer. This type of restricion also has a time frame, often expiring after 15-20 years. Again, resale price is limited only by what market will bear.
In cases where the owners are paying very low purchase prices to get in, it's often b/c the building is meant to remain affordable so on resale the sales price would be restricted. These have least potential for profit taking but have the lowest barrier to entry too.
Often the restrictions on these types of buildings are tied directly to their financing. If a building is partly financed with a 25 year interest free loan from the state, for example, the restrictions are tied into that time period in order to prevent public money from becoming a quick flip windfall to the individual buyer.
Posted by: LilBitOfLuck at September 26, 2008 2:20 PM in response to PACC Spins Out Another Affordable Housing Project
Best View in Brooklyn had a post a while back with some close ups:
http://bestviewinbrooklyn.blogspot.com/2008/08/update-on-some-6th-avenue-construction.html
Posted by: LilBitOfLuck at September 22, 2008 10:51 AM in response to A Brownstone [Still] Dies in Brooklyn
what a crime, she started a blog! get a grip xander. And last time I checked, blogspot was free, so aside from the tax payer funded corporate largess that google enjoys, it's really more of a waste of google's money than the taxpayers.
Posted by: LilBitOfLuck at September 19, 2008 7:26 PM in response to New Blog, Brought to You by Council Member Tish James
At 16 sq. ft, the 812 sq. ft. place will go for about $1082/month. Wonder what kinds of expenses are paid on top of that. This is clearly not for folks who have a lot of visitors or client visits.
Posted by: LilBitOfLuck at September 19, 2008 3:11 PM in response to At Industry City, Creative Workspace for Rent
LilBitOfLuck wrote a review about Junior's on September 19, 2008 1:52 PM
Agreed as to Strawberry Short Cake. Ordered one for a party once - big enough 25 people or so. Really excellent. The berries and cream were all super fresh. As for their other food, well it's not like anyone goes there for the food right?
I see this building having the same fate as the much better looking one a few blocks north (4th and 19th) - rentals!
1.5? Talk about being a few years late on that gravy train.
Posted by: LilBitOfLuck at September 16, 2008 10:41 AM in response to Sales Begin at Greenwood Plaza
Like the wall paper. Seems appropriate for a house of this era.
Love the painted pocket closet doors.
The marble island in the kitchen is a bit too big and monolithic. I think something half the size would have worked better, been less over (bearing)(the top) ...
With all the blacks and grays this place needs more life in the form of plants and light woods. Some more organic and homey touches
Posted by: LilBitOfLuck at September 16, 2008 10:17 AM in response to Interiors: Boerum Hill Townhouse in Shades of Red & Gray
Wish the pics for Clinton Hill were larger - looks like a creative and well done remodel.
Posted by: LilBitOfLuck at November 19, 2009 11:35 AM in response to Brooklyn Sales: Under a Million