Agent Page:
Neil
My Posts/Listings:
Stuyvesant Town’s Arbitrary Aftermath & Tribeca Multifamily
Before the now legendary Stuyvesant Town / Peter Cooper Village decision, New York City apartment building owners believed that if they accepted tax breaks under the J-51 program, they would also be allowed to remove units from rent regulation once the legal rents exceeded $2,000 per month. This conclusion was not a leap of faith. The City of New York, through its D.H.C.R. (Division of Housing and... [Read more]
How Would An Earthquake Impact New York City Apartment Buildings?
New York City hasn’t been rocked by an earthquake since 1884, when a 5.2 tremor rocked Rockaway Beach. In light of recent earthquakes in Chile and Haiti, many here wonder: How would New York City’s different apartment buildings sustain the damage? 1) Townhouses, brownstones, and tenements. Result: Pancaking. Since their stone or brick shells cannot flex, they will crack. The wooden crossbeams... [Read more]
Corner Bed Stuy Brooklyn Apartment Building For Sale
For more information on this Bed Stuy apartment building, click here Motivated seller for this 4-story corner walkup apartment building for sale. Almost half the building may be vacant by the end of the year. Walkup apartment building for sale will be delivered with multiple vacancies. Significant upside for investors. Bedford-Stuyvesant (also known as Bed-Stuy) is a neighborhood in the central portion... [Read more]
Which Flatiron Apartment Building Has Dozens Of Illegal Units?
A 16-story prewar elevator (in this case, World War I) apartment building in the Flatiron District built in 1910 was evacuated. The fact that the building was 100 years old had nothing to do with the evacuation. Instead, two unrelated and deadly factors required urgent action: (1) lack of sprinklers; (2) illegal partitions. The Department of Buildings discovered upon inspection that the building had... [Read more]
Chicago Apartment Building Owner’s Arson Kills 7 Tenants
Multifamily Investor has focused its lens on recent tragic events in New York apartment buildings. Owners may be held responsible for the aftermath of events with fatal results, even when they played no direct role (such as a fatal fall down an elevator shaft pried open by the victim, a fire deliberately set by an angry tenant when illegal partitions are present, or an unattended child climbing to... [Read more]
Brooklyn Multifamily Development, Robert Scarano, Brazilian Soccer & Freakonomics
What do Brooklyn multifamily architect Bob Scarano and Brazilian soccer players have in common? Brazilian soccer players have initiated a move they call the paradinha, or “little stop.” The shooter of the penalty kick executes a paradinha (pronounced par-a-JEEN-ya) when he runs up to the ball, then stops. He will then kick in the air repeatedly, before striking the ball. The motivation... [Read more]
Who’s At Fault in Bronx Elevator Apartment Building Fatality?
A little knowledge can be a deadly thing. That was the unfortunate case for Joseph Ryan, a 35 year-old elevator repairman. Ryan knew how to unlock and operate a freight elevator, and used that knowledge to haul a mattress with his wife up to their apartment after hours. (The freight elevators in the 13-story, 278-unit multifamily at 1749 Grand Concourse go out-of-service after 5 pm.) When Ryan stepped... [Read more]
Exclusive: NYC Brings Court Action Against Which Violation-Ridden Brooklyn Apartment Buildings?
NY1 broke the story. The Real Deal linked to it. But where exactly is the violation-riddled Brooklyn apartment building? No one has disclosed this. Until now. Multifamily Investor reports exclusively, for the first time, that in fact it is not one, but two, Brooklyn apartment buildings. Tenants organized a tour of both multifamily properties for press and elected officials. Highlights included black... [Read more]
Top 5 Lessons For Future Brooklyn Multifamily Mortgage Fraudsters
If only Mavis Samuel, 41, and Carlyle Ebanks, 55, installed a sprinkler system in that Brooklyn multifamily with their ill-gotten proceeds… The duo were convicted of selling the same multifamily twice, which isn’t a crime, unless you’re involving straw buyers. That can get you up to 15 years in prison, like Ebanks and Samuel face. In September, 2004, they sold the 4-story prewar... [Read more]
New York City’s Most Famous Rent Stabilized Tenant – Part IX: The Unintended Consequences of New York City Rent Regulations & Scott Brown
Rep. Charles Rangel appeared poised to lose the chairmanship of the powerful House tax-writing committee as dozens of Democrats said they would support a Republican resolution urging him to step down, according to a report in WSJ. Rangel met with House Speaker Nancy Pelosi, who presumably urged him to quit for the greater good of the party, and to avoid a vote to strip him of his chairmanship. After... [Read more]
Quiet Deal of the Week #3: Bronx Apartment Buildings For Sale
Bronx Apartment Buildings For Sale, Bronx, New York This deal is only for verifiable principals. Long term ownership. Motivated sellers for these apartment buildings for sale. Approximately thirty units total in two Bronx apartment buildings, very well kept. The Bronx is the northernmost of the Five Boroughs of New York City. It is also the newest of the 62 counties of New York State. Located northeast... [Read more]
Quiet Deal of the Week: Washington DC Apartment Building Note Portfolio For Sale
Washington D.C. apartment building note portfolio for sale – 200+ units. This is a new off-market portfolio of apartment complex notes in Washington D.C. – different from past Washington D.C. apartment building note portfolios that we have marketed and sold. The portfolio is for mortgage notes on multifamily properties. This apartment building mortgage portfolio deal is only for verifiable... [Read more]
