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EQUAL HOUSING *LTVs apply LENDER The Foundation of the de Blasio Affordable Housing Plan: Rent Freeze • 13% Increase in Real Estate Taxes • 3.6% Water Rate Hike • More Restrictive Rent Regulations Feb. 3, 2015 State of the City Address, Mayor Bill de Blasio boasts: “…we’re already… making real progress toward a more affordable New York… our Rent Guidelines Board passed the smallest rent increase ever last year... And we need stronger rent regulations [in Albany] that reflect today’s New York…” * Doesn’t de Blasio realizle that landlords of 1 million rent-stabilized apartments are the biggest providers of affordable housing? The “smallest rent increase ever” denies them the revenue they need to repair, improve and preserve existing affordable housing. * de Blasio’s “affordable New York” makes for a good sound bite. But then he raises real estate and water taxes at the same time that he dictates rent freezes to his Rent Guidelines Board and presses Albany for more restrictive rent regulations. * de Blasio’s housing plan is a “game-changer” alright – but not for affordable housing, our neighborhoods, or for poor and working families. We’ve been down this road before. We all know where it leads. IT’S TIME FOR NEW SOLUTIONS TO AN OLD PROBLEM. March 5-11, 2015 Page 3 Tribune/Press Real estate MaRketplace Sky View Parc: $2M Goes A Long Way By Michael Stahl ith reports of developers scrambling to procure additional funding, its many phases of construction and sales openings, ownership buyouts, and news of competitors putting up more luxury residential buildings close by, the Sky View Parc project on 40th Road and College Point Boulevard in Flushing has been in the real estate headlines countless times over the better part of the last decade. W Things, though, may have finally stabilized. In a recent press release, Onex Real Estate Partners announced that their “exclusive preview event” – a kind of sales launch period that came before a more general sales launch period – was a resounding success. In only six hours, they sold 120 units, half of the total homes available in the first of what will be three towers collectively called The Grand at Sky View Parc. “The event drew a tremendous response from attendees, many of whom already own in Sky View Parc,” said Michael Dana, president of Onex. Sales for the first phase of the development – a mixed-use building featuring 448 condos and a tremendous shopping center at its base with renters including Target, Nordstrom Rack, Best Buy and other retailers – opened in late 2011. That construct has been perennially featured on Curbed.com’s TopTen Best-Selling Buildings in New York since its opening. Couple that fact with this latest announcement regarding the preview event, and it becomes clear that good things come to those who wait. “Infrastructure for the [second phase of the] project has already begun,” a spokesperson for The Grand said. “The first tower is expected to begin rising in Spring 2015 for a Summer 2016 completion. The final tower, Grand Three, is expected to be complete by Fall 2017.” Like the residential portion of the first phase of the project, the Grand’s three towers will rise above the nearly 800,000 square-foot mall. The first tower will house apartments ranging from studios to threebedroom homes. The coziest flats will span 492 square feet, while the largest units will stretch over 1,965 square feet with prices approximately running between $489,000 and $2 million-plus. Reportedly, the three towers combined will ultimately have about 650 condos available. “We’re committed to answering the demand for full-service, exceptionally designed homes in Flushing,” Dana said, adding that they plan to accomplish such a goal “by bringing the next level of luxury living to this world-renowned destination.” Each home within The Grand at Sky View Parc features top-of-the- Half of the towers in the first Sky View Parc tower filled up in six hours. line finishes and state-of-the-art appliances, including an in-suite laundry closet with a stacked Bosche washer and dryer. There are soaring ceilings up to nine feet high, floor-to-ceiling windows, hardwood floors and wraparound balconies with views of the Manhattan skyline. The open-concept chef’s kitchens contain Bosch stainless steel appliances, including built-in dishwashers and refrigerators, and Scavolini sleek lacquered cabinets with LED lighting underneath, all complemented by natural quartz stone countertop and backsplash. The spa-like bathrooms include Kohler fixtures, decorative wall lighting fixtures, Grohe bathroom hardware, accompanied by porcelain tile flooring throughout. The luxury building will feature an impressive list of exclusive amenities provided solely for residents. There will be a tremendous lobby with a 20-foot ceiling, resident’s lounge, fitness center with multi-purpose rooms and a full-service spa. The outdoor area will “create an urban oasis for residents,” with uniquely programmed spaces to provide the ultimate lifestyle offerings, including meditation gardens, yoga zones and a pool. The new amenities will complement the existing amenities already at Sky View Parc, including a 24-hour staffed lobby and concierge service, tennis and basketball courts, running track, a four-acre landscaped rooftop garden, alfresco dining, barbeque grills, a children’s play area, golf putting green and a dog run. The Main Street transportation hub is two blocks away, while the Long Island Railroad’s Flushing stop is just a half-block walk. The development also has easy access to four major highways. Calling Sky View Parc a “passion project” for Onex, a spokesperson for The Grand noted that the “profile of Queens has grown in the past few years as a highly in-demand residential destination, and the neighborhood of Flushing in particular has come into its own as a first choice for dining, shopping and living today in New York City.” With several other developments seeing groundbreakings and building skeletons rise this year, even more “grand” things are expected throughout the neighborhood – one that’s an emerging real estate powerhouse. The Grand at Sky View Parc’s sales and design gallery is located at 40-26 College Point Blvd., Flushing and is open seven days a week. For more information, call (718) 886-8899, email [email protected], or visit the project’s website at TheGrandsvp.com. Page 4 March 5-11, 2015 Tribune/Press Real estate MaRketplace The Aston: Living the High Life in Forest Hills BY MICHAEL STAHL F or its entire history, Forest Hills has been “a desirable residential enclave,” Jacqueline Urgo, president of the real estate marketing firm Marketing Directors, said. “Though the neighborhood has become a bit commercialized, it still has that small-town feel and a cache that I’m proud of,” Urgo, a Forest Hills native said. Her firm has been tapped to springboard sales of brand new luxury apartments in the Aston building, located at 108-20 71st Ave. in the heart of the community. Urgo views the Aston as more of a passion project than just a property she needs to promote. “It’s special to me. When I’m working on it, I always feel like I’m back home,” shae explained. Considering the modernity and elegance of the project, unmatched by few, if any, other buildings in Queens, there are plenty of reasons to want to feel at home there. Developed by Cord Meyer, a company with a rich Forest Hills real estate history, and designed by Anthony Morali of MStudio Architecture, the 16-story condo is a glassy homage to art deco with a futuristic, geometric façade and jutting terraces. With its entrance located on a residential street, as opposed to the commercially driven Queens Bou- levard, there are 97 apartments inside the building. Most are one- and two-bedroom flats, but the developers were sure to include a handful of three-bedroom homes that are more appealing to families as well. “We’ve had buyers of all kinds,” Urgo said. “Most of them have existing ties to the neighborhood, but also want to enjoy a luxury lifestyle in a well-serviced building.” Each apartment features hardwood walnut flooring throughout, recessed lighting fixtures, nine-foot ceilings and floor-to-ceiling windows. Floor plans reveal smart layouts, including open and spacious living/ dining areas waiting to be uniquely decorated and furnished. There are Bosch washer/dryer units in the homes as well, along with gourmet kitchens with custom walnut cabinetry, granite countertops with glass tile backsplash, Kohler undermounted stainless-steel sinks and brushed nickel faucets and state-of-the-art stainless-steel appliances from G.E. The spa-like master bathrooms have exquisite Emperador Dark tile flooring and milk glass countertops, while the secondary bathrooms contain cream marfil walls, flooring and countertops. There are custom walnut vanities in all the bathrooms, along with Kohler sinks and faucets and Astrus black tile flooring in the powder rooms. Some available apartments have balconies or terraces too. The Manhattan-ésque building amenities include a 24-hour attended lobby and lounge area, private fitness center, on-site parking, and a common, landscaped roof garden terrace with a barbecue and bar pergola, perfect for entertaining and taking in city sunset views. There are also excellent sightlines to Flushing Meadows Corona Park, the Throgs Neck Bridge and the Long Island Sound. “The people at Cord Meyer are the neighborhood’s best advocate,” Urgo said, explaining why they scooped up the Forest Hills lot when it became available. “They have a major commitment to the area. Plus, it’s just prime real estate.” Construction began in June 2012 and move-ins are finally set to commence sometime in Aprilan announcement that is certainly generating excitement among the building’s buyers, of which there are already plenty. “We were expecting a home run,” Urgo said about the prospective sales at the Aston, “but the demand exceeded our expectations. It’s been incredible.” She believes that, even though the prices of the apartments might appear high to some long-time Queens residents, the condos ultimately come at a great value. Onebedroom units range from $705,000 to $750,000. Two-bedroom apartments run between $995,000 and $1.3 million, while penthouse homes on the 18th floor cost upwards of $1.71 million. “There’s quick transportation to the city close by,” Urgo says, “and Austin Street and all its shops and dining is just around the corner. There are great schools in the neighborhood and there’s no co-op board. Condo ownership is very attractive.” All of this helped the Marketing Directors sell 74 percent of the Aston’s apartments in the first four months of their availability. “The luxury market has really arrived in Queens, and everyone involved with The Aston project is incredibly pleased to be a part of it,” Urgo said. For more information on available apartments in the building, contact the Marketing Directors’ sales office at (718) 268-0822 or visit them at 108-18 Queens Blvd. on the 9th floor. The Aston in Forest Hills is quickly becoming one of the neighborhood’s most prominent structures, and most desirable places to live. Tribune/Press Real estate MaRketplace March 5-11, 2015 Page 5 Interest Rates Jump Slightly, Survey Says By Daniel Offner Staff Writer I nterest rates jumped slightly after a recent downward trend, according to the most recent weekly survey from Freddie Mac, a government-sponsored enterprise with the goal of providing liquidity, stability and affordability to the nation’s residential mortgage markets. Each week, Freddie Mac surveys about 125 lenders, including thrifts, credit unions, commercial banks and mortgage lending companies, to compile average interest rates and points. Based on figures provided by Freddie Mac, interest rates for 30-year fixed-rate mortgages averaged 3.80 percent with an average .6 points for the last week of February – up from the week before, when interest rates averaged 3.76 percent. In addition, interest rates for 15year fixed-rate mortgages averaged 3.07 percent with an average of 0.6 points – up from the prior week when it averaged 3.05 percent. Five-year Treasury-indexed hybrid adjustable rate mortgages also saw an increase in February, according to Freddie Mac, when it averaged 2.99 percent with an average 0.5 points – up from 2.97 percent the week before. “Mortgage rates rose for the third consecutive week in February, following solid housing data,” Len Kiefer, deputy chief economist with Freddie Mac, said. However, one-year Treasury-indexed adjustable rate mortgages averaged 2.44 percent in February Interest on fixed and adjustable-rate mortgages saw a slight increase at the with an average 0.4 points end of February. – a decrease from last week averaged 2.89 percent and 1-year This time last year, Freddie Mac when it averaged 2.45 percent. reported 30-year fixed mortgages Freddie Mac, additionally, com- ARMs averaged 2.38 percent. “New home sales beat market ex- at an average 4.37 percent, 15-year piles its week-by-week interest data to determine monthly interest rates pectations at an annual pace of 481,000 fixed rate mortgages averaged 3.39 for fixed and adjustable rate mort- units, down slightly from 482,000 percent, 5-year adjustable rates averunits in December, but up 5.3 percent aged 3.05 percent and 1-year adjustgages. At the end of January, Freddie from a year ago,” Kiefer added. “Also, able rates averaged 2.52 percent. Reach Daniel Offner at (718) 357Mac reported that 30-year FRMs av- the S&P/Case-Shiller National House eraged 3.67 percent, 15-year FRMs Price Index rose 4.6 percent over the 7400, Ext. 125, doffner@queenstriaveraged 2.99 percent, 5-year ARMs 12-months ending in December 2014.” bune.com, or @DanielOffner. Page 6 March 5-11, 2015 Tribune/Press Real estate MaRketplace Giant FreshDirect Site Hits Market By Jackie StrawBridge Staff Writer D evelopers are hungrily eyeing the nearly 277,000square-foot Long Island City property that FreshDirect is leaving in its move to the Bronx, according to brokers marketing its sale. The supermarket delivery company agreed to relocate to the South Bronx in 2012, after the City and State promised millions in subsidies to prevent them from a planned New Jersey move. Ground broke on the Bronx FreshDirect site in December 2014. Robert Knakal of Cushman and Wakefield, exclusive agent to the sale, said that there has been “a tremendous amount of interest” in the site, which is located at 23-30 Borden Ave. ”I think it’s a great property and I’m not surprised,” Knakal added. The property boasts a roof billboard visible from the Long Island Expressway as well as nearly 130,000 square The site of FreshDirect’s former facility on Borden Avenue in Long Island City is attracting a lot of interest among developers. feet of development rights, according to the property listing. FreshDirect is also seeking temporary leaseback of the property while it transitions to the Bronx, guaranteeing a tenant to the buyer at the time of sale. Knakal said that the existing redevelopment potential of the property could allow for a variety of industrial uses, but added that much of the interest in the property has revolved around a possible rezoning Condo? Co-Op? Rental? To you it’s simply “Home.” (ZR TL HIV\[ [OL RPUKZ VM WVSPJPLZ (SSZ[H[L VMMLYZMVY*VUKVTPUP\TVY*VVWLYH[P]LV^ULYZ HUKYLU[LYZ ;/,>90./;(.,5*@ Policy issuance is subject to qualifications. Allstate Indemnity Co. Northbrook, IL. © 2009 Allstate Insurance Co. 116830 X'-,0/07XccjkXk\%Zfd _kkg1&&X^\ekj%XccjkXk\%Zfd&Xek_fep$ of Long Island City. “Many people in the area feel that the neighborhood is likely to be rezoned to more accommodative commercial uses. I think there are a number of people looking at the property who believe that that rezoning will occur within the next couple of years,” Knakal said. The FreshDirect property is in a region zoned for industrial/manufacturing uses. It lies just outside an area currently being studied by the Department of City Planning for rezoning potential – the agency is particularly interested in making more room for affordable housing. Knakal said he expects a sale to be made “within the next couple of months.” Reach Jackie Strawbridge at (718) 357-7400, Ext. 128, jstrawbridge@ queenstribune.com or @JNStrawbridge. Tribune/Press Real estate MaRketplace Times May Buy Out Lease in College Point By Daniel Offner Staff Writer T he New York Times Company may be looking to buy out its lease on the 500,386 sq. ft. printing facility in College Point, according to sources close to the negotiations. Prior to the construction of the nationally distributed newspaper’s current headquarters at 620 Eighth Ave. in Manhattan, both corporate and printing operations were housed in its Times Square facility, until 1992, when the Times announced plans to lease the 31-acre property from the New York City Economic Development Corporation. As part of a 35-year lease agreement, the City and State granted tax incentives, reduced energy costs and other benefits worth a total of $29 million, according to the Times. The New York Times Company officially opened the $280 million printing plant in 1997. Its façade, featuring the newspaper’s iconic title print is a recognizable landmark for drivers on the Whitestone Expressway. At the time, it employed about 1,000 people for its press and distribution operations. It’s location near one of the few large vacant parcels of unused land in the city¬most of which was home to Flushing Airport until it closed in 1984¬make it an attractive site for developers. Nearly 11 years later, in 2008, the Times would expand its facilities in College Point by 70,613 sq. ft., which subsequently resulted in the relocation of 190 employees from the publication’s Manhattan headquarters to College Point and the operation of approximately 20 additional delivery trucks based in Queens. Rob MacKay, director of public relations for the Queens Economic Development Corporation, said that the QEDC is generally in favor of selling the property to a private business. “It’s a clear sign buying land in Queens is a good investment; that it GET MORE WITH ALMA 4 YEAR CDs AT 5 YEAR CDs AT ** ** 1.50 2.00 % APY % APY FREE INCOMING WIRE TRANSFERS Whether its Personal or for Business, when you bank with us, free incoming wire transfers are just one of the many ways we like to say thank you.* almabank.com / 718.267.ALMA (2562) / 13 Convenient Locations in NY & NJ *Customers must have a Checking Account and sign up for e-Statements to qualify for free incoming wire transfers. Other fees may apply. **The Annual Percentage Yield (APY) is accurate as of February 6, 2015. Rates may change at anytime except as noted herein. To qualify for the promotions, $10,000 minimum balance is required to open the account and obtain the APY. Other restrictions apply. Fees may reduce earnings. Early withdrawal fees may apply. New money only. Limit one account per customer. For current rate/ APY or to obtain a copy of the Truth In Savings Disclosure, visit your nearest branch or call 855.541.1000. is a viable place to do business,” MacKay said. Still under lease, the New York Times has already been approached by parties interested in acquiring the property. The New York Times did not return requests for comment as of press time. Reach Daniel Offner at (718) 3577400, Ext. 125, [email protected], or @DanielOffner. March 5-11, 2015 Page 7 a clear sign “It’s buying land in Queens is a good investment; that it is a viable place to do business. ” –Rob McKay, Queens Economic Development Corporation The New York Times may be looking to buy out its lease on its College Point printing facility. Page 8 March 5-11, 2015 Beaudoin Realty Expanding To LIC By Jackie StrawBridge Staff Writer A Jackson Heights staple is stretching into new territory. Beaudoin Realty Group, a boutique realtor on 37th Avenue since 2001, will open a second office at 2152 44th Dr. in Long Island City this week. BRG founder and owner Michele Beaudoin, a Queens native, has been brokering residential and commercial deals in Queens since the 1980s. Her first business, JH Historic District Specialist, focused on historic properties in the neighborhood – an interest she said she will continue to explore with the new Long Island City location. “It’s really exciting,” Beaudoin said of the move. “Long Island City was one of the places I always thought had a really interesting combination of buildings… and the best views of midtown Manhattan.” Situated at Court Square, Beaudoin Realty will be at the heart of a busy mixed-use district of residential and commercial activity. Beaudoin called the location “ideal” for taking advantage of the area’s residential and retail boom. The major difference between the Jackson Heights and Long Island City offices, according to Beaudoin, will be the type of client served. While in Jackson Heights she handles largely natives and repeat clients, the Long Island City office will cater to many new New Yorkers, Beaudoin said. “So [we will be] referring them to things that they could get in the new neighborhood, and a neighborhood that’s growing,” she said. Beaudoin also noted that she found the area’s population of young families and artists and its “youthful spirit” exciting. However, she added, “we’re not a firm that’s just coming in because it’s trendy now.” “We’ve been in Queens for Tribune/Press Real estate MaRketplace almost 20 years and we want to get people homes that fit and a place for them to set up their business. We’re not transient,” Beaudoin continued. As of press time, a ribbon cutting at the office was planned for Thursday at 5:30 p.m., with State Sen. Jose Peralta (D-East Elmhurst) and Councilmen Daniel Dromm (DJackson Heights) and Jimmy Van Bramer (D-Sunnyside) slated to attend. Reach Jackie Strawbridge at (718) 357-7400, Ext. 128, jstrawbridge@ queenstribune.com or @JNStrawbridge. Michele Beaudoin, of Beaudoin Reality Group, above, will expand her business into Long Island City this week and open a new office, below,at 21-52 44th Dr. March 5-11, 2015 Page 9 Tribune/Press Real estate MaRketplace 1031 And The Hot, Hot Real Estate Market By Michael Stoler O ne of the more common terms used by realtors, investors as well as mom and pop investors, is “Section 1031” of the Internal Revenue Code. In a simple explanation; a 1031 exchange, also called a like kind exchange, is a swap of one business or investment asset for another. If one comes within a 1031, you will either have no tax or limited tax due at the time of the exchange. In effect, the investor or owner of a real property can change the form of investment without cashing out or recognizing a capital gain. That allows your investment to continue to grow tax deferred. You can roll over the gain from one piece of investment real estate to another. While you may have a profit on each swap, you avoid tax until you actually sell for cash many years later. Then you pay the tax on the gain at a long term capital gain rate. Section 1031 tax deferred exchanges have been part of the tax code since 1921. Section 1031 allows an investor who holds the property for investment purposes, or for use in a trade or business, to defer all four levels of potential capital gains by exchanging for qualifying like kind property under, section 1031. By deferring the capital gain, an investor has significantly more purchasing power and better overall investment returns. Most 1031 exchanges are of real estate. However, some exchanges of personal property, such as a piece of art work, can qualify. Without getting technical most exchange must merely be of “like kind.” You can exchange a multifamily apartment building for raw land, a retail shopping center or other real estate assets. In general, once the sale of your property occurs, you transfer the intermediary (qualified 1031 Exchange Company). Within 45 days of the sale of your property, you must designate replacement property to the intermediary, specifying the property you want to acquire. You must then close on the purchase of the new property within 180 days of the sale of the old. The two time periods run concurrent- ly, which means you start counting when the sale of your property closes. If you designate property exactly 45 days later, you’ll have 135 days left to close on the replacement property. One of New York City’s leading investment sales brokers told me that currently more than 25 percent of the transactions are as a result of tax deferral for 1031 exchanges. Investors of all levels, which include an owner of a retail or multi-family property as well as Blackstone Group on the sale of the Waldorf Astoria, are taking advantage of the section 1031. Congress is trying to lay the groundwork for long term comprehensive tax reform and many are suggesting eliminating 1031 exchanges as part of its tax proposals. Proponents of 1031 exchanges feel that like kind exchanges benefit millions of American investors and businesses every year. Section 1031 exchanges encourage businesses to expand – including the development of real estate – and keep dollars moving in the U.S. economy. Michael Stoler is the managing director for Madison Realty Capital and president of New York Real Estate TV LLC. He is also the host of the Stoler Report – New York’s Business Report, which airs eight times per week on CUNY TV. Page 10 March 5-11, 2015 Tribune/Press Real estate MaRketplace Get Ahead of the Curve with Prime Information on NYC Foreclosures from PropertyShark F irst-time foreclosures saw a 33 percent jump year-over-year in New York City, reaching a total number of 1,560 in 2014. Pre-foreclosures, on the other hand, have shown signs of improvement, dropping 17 percent compared to 2013. The highest increase in foreclosure auctions was in Queens, where the number rose 56 percent to 617 in 2014 from 395 in 2013, according to data powerhouse PropertyShark. com. Not surprisingly, more and more people are looking into the option of investing in distressed properties, which in fact may turn out to be real bargains. Are you equipped with the right tools to discover the best investment opportunities in a timely fashion? In real estate, information is king. As the only service in NYC that doesn’t miss a single foreclosure auction, PropertyShark allows you to tap into the depths of foreclosure real estate while helping you stay on top of the housing market. The real estate website gives you access to a complete list of distressed properties currently on the market, with essential information on auction dates and lien amounts. Additionally, you’ll be able to browse through online property reports and find out all there is to know about a specific property, including physical characteristics, sales history, assessment history, HPD violations and building permit filings. All this data will help you make educated buying decisions while saving you tons of time and effort. Finding investment opportunities has never been easier. Interested in finding foreclosed properties in a particular area? Look no further. PropertyShark allows you to research distressed properties by type and location, and narrow down your search by combining different criteria such as auction details and property characteristics, in order to match your exact needs. Moreover, you can pinpoint distressed properties in all five boroughs on interactive maps of foreclosures and pre-foreclosures, updated daily. The NYC Queens Foreclosures map for example will highlight all distressed properties in Queens currently scheduled for auction and the NYC Queens Lis Pendens map will allow you to identify all properties in Queens for which a lis pendens has been filed in the last seven days. In addition to researching lis pendens and foreclosures, you can also see auction results and sift through REOs (properties owned by the bank or lender), which have become another attractive alternative for investors. REOs are often regarded as the more cautious investment option as the property sits vacant and is free of title liens. Once a property becomes an REO, the bank or lender usually takes care of such things as fixing up the property and prepares documents for the issuance of a title insurance policy for the buyer. Largest Providers of Affordable Housing Left Out of Equation by Joseph strasburg T he affordable housing plan that Mayor Bill de Blasio rolled out last month during his State of the City address leaves out the largest providers of quality, affordable housing – the 25,000 landlords of one million rentstabilized apartments. Poor and working families in Queens call over a quarter-million of these apartments their home. But some policy makers in Albany and City Hall, including de Blasio, find it politically expedient to demonize landlords of rent-stabilized housing. With the State’s rent laws expiring in June, these politicians call for stricter regulations, along with an end to programs and policies that help landlords re-invest in their buildings. These politicians support a rent freeze on top of increased real es- in need of repair and upgrades. When landlords make repairs tate taxes and water charges. In fact, de Blasio, in his State of and improvements to their apartthe City, said, in part, “… we’re al- ments, this translates into a steady stream of work for loready… making real cal small businesses – progress toward which further transa more affordable lates into jobs for New York… our Rent local residents who, Guidelines Board in turn, support retail passed the smallest shops and restaurants rent increase ever last in their neighboryear… And we need hoods. This generates stronger rent regulatax revenue for the tions [in Albany]…” City and State, and But the “smallest most importantly, it rent increase ever” stabilizes neighbordenies landlords the hoods and preserves revenue they need existing affordable to re-invest in their housing. buildings – making But the Mayor’s the repairs and imaffordability plan is Joseph Strasburg provements neces“a tale of two cities.” sary to maintaining Landlords who are aland preserving the bulk of the city’s already existing af- ready providing affordable housing are burdened with higher real estate fordable housing stock. When landlords are denied taxes and water charges (de Blasio their only source of revenue, the recently proposed a 13 percent hike impact is felt throughout the City in real estate tax assessments and and State. Most of these are pre- raised water rates 3.6 percent last World War II buildings aging and year). Yet, developers receive tax breaks for providing a percentage of affordable units in their new construction. If some Albany and City Hall politicians continue on the path of supporting more burdensome rent regulations and a rent freeze, in tandem with higher real estate and water taxes, maybe they should be reminded of what happened to the City’s affordable housing stock in the 1980’s. Memo to Albany and City Hall lawmakers: Don’t eliminate programs that provide landlords with the ability to re-invest in their buildings – and to invest in their communities. The private sector is already doing more than its share to preserve affordable housing. Imposing higher real estate taxes and water charges, rent freezes and stricter rent regulations in Albany will only hurt poor and working families, neighborhoods and the preservation of affordable housing. Maybe it’s time for new solutions to an old problem. Strasburg is President of the Rent Stabilization Association, which represents 25,000 owners of one million rent-stabilized apartments in the five boroughs. CALL: 718-357-7400 March 5-11, 2015 Page 11 Tribune/Press Real estate MaRketplace E-mail: [email protected] WHAT IS YOUR HOME WORTH? houses wanted houses wanted Free, quick over the Net evaluation of your home. Learn about homes that have been sold and are currently listed in your neighborhood. GET THE FACTS WITHOUT THE PRESSURE. Based on this information, you will know what your home is worth. This is a complete confidential market analysis and is absolutely free!! realtor JERRY FINK REAL ESTATE 160-10 Crossbay Blvd. Howard Beach, NY 11414 3% BAYSIDE/FLUSHING STOREFRONT Attention Landlords! commercial r.e. Approx. 1,800sf. or 2,300sf. Ideal Boulevard location Any Retailer Office Reasonable Rent Call Broker 718-939-5600 apts. for rent FLUSHING Studios $900/mth 1 BR $1000 2 BR $1500 3BR $1850 BEECHURST Hi-Ranch, 3BR, 1½ Bth Full Bsmt. 2 Car Gar. $3500/mth. Call Broker 718-939-5600 comm. space RIDGEWOOD QUEENS Apprx. 2000 Sq. FT Comm Space Ground Floor. Rollup Door 3 Phase Power Gas Heat Very Secure, Interior Parking $3000 mo. Call Owner Days 516-946-7771 house 4 sale ULSTER COUNTY Quiet Country Home 1½ Hrs North N.Y.C Raised Ranch - Newly Renov. 3 BR 2 Full BA 2 Car Gar. Full Bsmt. 1 Acre Corner Lot. Low Taxes Easy Commute to N.Y.C. Priced to sell at $219K OWNER 845-750-5683 r.e. seminar *FREE REAL ESTATE SEMINAR Call now to register and get additional details. Inviting all Buyers and Sellers. Don’t miss out. Complimentary snacks and refreshments will be served. 718-454-9000 building 4 sale Mariners Harbor, Staten Island, NY Brick & stucco building w/3 residential rentals & one commercial space. Apartments are all electric w/separate thermostats & meters. Warehouse /store front is electric & has gas heat available w/separate meter. Owners meter for common areas. Tenants are N.Y.C.H.A. New roof 2011, new windows 2012 and warehouse has ceilings of 13 feet. Apartments were redone in 2012. $279,900 CLAIRE PROPERTIES Direct: 917-974-2238 Office: 718-524-4424 for rent WHITESTONE: Commercial space 500sq. ft. heat incl. New 3BR/2BA 1st flr. H.I. Rare..... $2,200 Stunning 2BR First floor, new kitchen/bath, Backyard priv., includes basement with Washer Dryer....... $2,400 Gorgeous 2BR First Floor, Backyard priv., fresh paint, very large Nice 3BR with back balcony EIK, LV, DR, parking.......................................... $2,275 Fab 2BR/1BA, EIK, Large LR, DR. $1,800 FRESH MEADOWS: 3BR Duplex, 2BA, EIK, LR/DR combo, newly renovated, private entrance............................ $2,100 ASTORIA: Commercial Space, great area 1,600, 1,000 and 850 SF avail. ADRIANNE REALTY 718-767-0080 • 917-821-9518 house 4 sale HOWARD BEACH 156-21 96TH STREET BEAUTIFULLY RENOVATED 1-Family Brick w/2 Units $549K 4 Bedrooms, Private Driveway, Terrace, Backyard & Basement w/ Separate Entrance. CALL JANE COSTAGLIOLA (917) 807 1421 718-388-2188 realtor Call for details Visit: www.PriceMyHouse.us commercial r.e. realtor Listing Special Office 718-766-9175 Cell 917-774-6121 [email protected] or call 1-800-882-6030 Ext 607 24/7 FREE Community Service realtor Avoid headaches. Hire Me I am a Real Estate professional. I can • Find Tenants • Fill Vacancies • Screen prospective tenants • Lease apartments & set up closing details, at no cost to you! Call Jason 347-972-4626 Relocating -Buying -Selling Consider Staten Island & Brooklyn Call Claire Bisignano Chesnoff, NYS Licensed Real Estate Broker CLAIRE PROPERTIES Direct: 917-974-2238 [email protected] www.claireproperties.com HOUSES BOUGHT ALL CASH ANY CONDITION houses wanted ESTATE SPECIALIST 718-217-2000 out of state TOMS RIVER NJ An Affordable & Active Adult Community “HOMESTEAD RUN” NEW manufactured HOMES For SALE starting at $54,900 CALL TODAY! 800-275-2911 www.homesteadrun.com the catskills 117. 8 ACRES surveyed off the grid camp w/year around stream and several pond Sites. Near Cannonsville Res. Lake. Asking $300,000 Real Estate Broker Owned 607-865-5357 Todd Ogden [email protected] D. T. Ogden Real Estate unfurnished apt. FLUSHING 158TH ST. Near Northern Blvd. & LIRR. New 1 BR - $1,275 4th flr. walkup. No Pets. No brokers. No Fee 718-358-3564 718-575-9600 LYNBROOK, NY 22 Washington Ave. Professionally redone 50x100 side hall Queen Anne. New home w/o new home price, New concrete. Priced to sell. SD 12, Taxes: 13,900. 20% approved reduction. Principals only 516-526-0571 heating oil $409,900 SPRINGFIELD GARDENS 2 Family Fully Renovated 6BR 5 Full Bath Fin Bsmt - Garage w/DW Big Back yard no CC Low DP Asking 449K 718-465-1222 heating oil 7 UNIT INVESTMENT PROPERTY In Ozone Park. Rental 120K 2 Family Custom Built New House In Wakefield $799K Contact Raj 917-957-9969 heating oil