August 28, 2009, 11:09 AM
Using One Broker for Buying and Selling
By JAY ROMANO
Q.
I found an apartment that I’m interested in. But the broker for this apartment is also the broker whom I wanted to use to sell my own apartment, although I have not signed with him yet. Should I avoid listing with the same firm because of a conflict of interest?
A.
“No,” said Edward I. Sumber, a White Plains lawyer who is also legal counsel to a number of New York real estate groups, including the Westchester Board of Realtors. “Always list with the person who is most effective and has your best interests in mind.”
In New York, Mr. Sumber said, a consumer can choose to work with a broker as a dual agent. In such circumstances, the broker works for the seller and the buyer with the informed consent of both. “Effective people get the job done,” he said.
He noted that a dual agent cannot absolutely guarantee undivided loyalty. But such loyalty, he said, might not be as valuable as having a respected, honest and effective agent working on your behalf.
Sunday, August 30, 2009
Friday, June 12, 2009
Tuesday, June 9, 2009
UPDATE: Victoria Gotti
THURSDAY, JUNE 4, 2009
UPDATE: Victoria Gotti
Looks like ol' Victoria Gotti just might have pulled a real estate rabbit out of a hat having reportedly come to a tentative agreement to save her mawkish mansion in Old Westbury, NY from the jaws of foreclosure.
Back in mid-May of 2009 it was widely reported that the lavishly be-weaved blond was days away from losing her long time Long Island home because she was arrears to her lender to the tune of $650,000. As a result of the default a court of law ruled that JP Morgan Chase could foreclose on the 4+ acre estate where Miz Gotti and her three grunting and virtually inarticulate sons filmed their depressing and difficult to watch reality program Growing Up Gotti.
At the time, Miz Gotti gave the rather bizarre and far-fetched sounding explanation that her ex-huzband Carmine Agnello–who, incidentally, was fined $10,000,000 after pleading guilty to racketeering charges in 2001–was to blame because he took out a secret mortgage on her manse after fooling the bank into believing that Miz Gotti had granted him power of attorney to do so. Turns out her explanation was true...or at least true enough that the bank decided to give her the benefit of the doubt and work out some sort of agreement that would allow Miz Gotti and her Rapunzel worthy wig to stay in the mansion.
Sounds to me like someone at the bank has some splainin' to do. Either that or Mister Agnello may be looking at addition appearances in front of a judge who may not look kindly on his fraudulent mortgage activities as they relate to Miz Gotti's house of architectural horrors.
The children will recall that Miz Gotti has been trying to sell her real estate white for years with asking prices as high as $4,800,000 and as low as its latest asking price of $2,300,000. Your Mama isn't sure if the Miz Gotti's big house is still on the market, but we did find a possibly outdated listing that shows a wonky asking price of $2,959,000.
UPDATE: Victoria Gotti
Looks like ol' Victoria Gotti just might have pulled a real estate rabbit out of a hat having reportedly come to a tentative agreement to save her mawkish mansion in Old Westbury, NY from the jaws of foreclosure.
Back in mid-May of 2009 it was widely reported that the lavishly be-weaved blond was days away from losing her long time Long Island home because she was arrears to her lender to the tune of $650,000. As a result of the default a court of law ruled that JP Morgan Chase could foreclose on the 4+ acre estate where Miz Gotti and her three grunting and virtually inarticulate sons filmed their depressing and difficult to watch reality program Growing Up Gotti.
At the time, Miz Gotti gave the rather bizarre and far-fetched sounding explanation that her ex-huzband Carmine Agnello–who, incidentally, was fined $10,000,000 after pleading guilty to racketeering charges in 2001–was to blame because he took out a secret mortgage on her manse after fooling the bank into believing that Miz Gotti had granted him power of attorney to do so. Turns out her explanation was true...or at least true enough that the bank decided to give her the benefit of the doubt and work out some sort of agreement that would allow Miz Gotti and her Rapunzel worthy wig to stay in the mansion.
Sounds to me like someone at the bank has some splainin' to do. Either that or Mister Agnello may be looking at addition appearances in front of a judge who may not look kindly on his fraudulent mortgage activities as they relate to Miz Gotti's house of architectural horrors.
The children will recall that Miz Gotti has been trying to sell her real estate white for years with asking prices as high as $4,800,000 and as low as its latest asking price of $2,300,000. Your Mama isn't sure if the Miz Gotti's big house is still on the market, but we did find a possibly outdated listing that shows a wonky asking price of $2,959,000.
Sports site owned by Nicholas Cosmo fetches $3.4M
BY THOMAS MAIER
thomas.maier@newsday.com
8:53 PM EDT, June 4, 2009
A large indoor sports facility in Hauppauge, once owned by accused swindler Nicholas Cosmo, was sold Thursday for $3.4 million to a Commack-based company that plans to turn it into Long Island's latest soccer palace.
With bidders and curious onlookers standing on the field's green artificial turf, the bankruptcy court-approved auction started and ended with bids from Coastal Soccer Llc, owned by businessmen Tony Stein and Mark Newfield. They hope to open its doors to the public in the fall.
"We fell in love with it," Newfield said. Coastal Soccer had briefly used the indoor field for training until the collapse earlier this year of Cosmo's company, Agape World Inc.
Federal authorities said Agape World, once also based in Hauppauge, was a Ponzi-like scheme that defrauded hundreds of investors of $413 million. Cosmo, a Lake Grove resident, remains in a Nassau jail cell as his attorney and federal prosecutors negotiate a $1.25-million bail package.
Thursday's sale of the sports facility was part of the continuing effort by a U.S. Bankruptcy Court-appointed trustee Kenneth P. Silverman to sell assets and recover money spent by Cosmo's Agape firm.
Previous auctions sold off Agape's office furniture and equipment and a luxury car. Silverman estimated that several other former Agape investments in real estate, stock and other financial instruments - worth some $20 million on face value - remain to be sorted out and sold in the coming months.
Although there were some 300 inquiries about the sports facility, only a few bids were made at the auction, with Coastal's winning offer of $3.4 million accepted within minutes. The auctioneer, David R. Maltz & Co., had initially obtained a $3-million offer from Coastal before the auction. Those involved in the sale say the winning bid was close to the estimated $3.5 million that Cosmo had poured into the facility originally, including its purchase and many improvements. Stein and Newfield said they expect to make additional changes to the building to secure the needed town approval before opening to the public.
"It's a tremendous facility for soccer and indoor soccer leagues," said Silverman, who was pleased with the amount of the winning bid in a depressed real estate market. "They say this is one of the best soccer places on the Island."
thomas.maier@newsday.com
8:53 PM EDT, June 4, 2009
A large indoor sports facility in Hauppauge, once owned by accused swindler Nicholas Cosmo, was sold Thursday for $3.4 million to a Commack-based company that plans to turn it into Long Island's latest soccer palace.
With bidders and curious onlookers standing on the field's green artificial turf, the bankruptcy court-approved auction started and ended with bids from Coastal Soccer Llc, owned by businessmen Tony Stein and Mark Newfield. They hope to open its doors to the public in the fall.
"We fell in love with it," Newfield said. Coastal Soccer had briefly used the indoor field for training until the collapse earlier this year of Cosmo's company, Agape World Inc.
Federal authorities said Agape World, once also based in Hauppauge, was a Ponzi-like scheme that defrauded hundreds of investors of $413 million. Cosmo, a Lake Grove resident, remains in a Nassau jail cell as his attorney and federal prosecutors negotiate a $1.25-million bail package.
Thursday's sale of the sports facility was part of the continuing effort by a U.S. Bankruptcy Court-appointed trustee Kenneth P. Silverman to sell assets and recover money spent by Cosmo's Agape firm.
Previous auctions sold off Agape's office furniture and equipment and a luxury car. Silverman estimated that several other former Agape investments in real estate, stock and other financial instruments - worth some $20 million on face value - remain to be sorted out and sold in the coming months.
Although there were some 300 inquiries about the sports facility, only a few bids were made at the auction, with Coastal's winning offer of $3.4 million accepted within minutes. The auctioneer, David R. Maltz & Co., had initially obtained a $3-million offer from Coastal before the auction. Those involved in the sale say the winning bid was close to the estimated $3.5 million that Cosmo had poured into the facility originally, including its purchase and many improvements. Stein and Newfield said they expect to make additional changes to the building to secure the needed town approval before opening to the public.
"It's a tremendous facility for soccer and indoor soccer leagues," said Silverman, who was pleased with the amount of the winning bid in a depressed real estate market. "They say this is one of the best soccer places on the Island."
Friday, June 5, 2009
Monday, May 11, 2009
Wednesday, May 6, 2009
Friday, April 24, 2009
Wednesday, April 22, 2009
Square Feet - Some New York Businesses Turn to Wind Power - NYTimes.com
Square Feet - Some New York Businesses Turn to Wind Power - NYTimes.com: "April 22, 2009
Square Feet
Some of the Bright Lights of New York’s Businesses Are Powered by Wind
By JANE L. LEVERE
The use of wind power by owners of commercial real estate in New York City is rising rapidly, but from a very low base, according to energy service companies, which supply the power to businesses.
Wind power is expected to be a critical component of President Obama’s plan to expand the production of renewal domestic energy, and there are signs that this is starting to happen in New York. ConEdison Solutions, one energy supplier, said its sales of wind power to commercial customers rose 25 percent in 2007 and again in 2008.
Still, only about 250 businesses buy some measure of wind power from ConEdison Solutions. This number represents slightly over 1 percent of its commercial and industrial customers; of these, some 200 get all of their power from wind farms.
Jorge J. Lopez, chief executive of ConEdison Solutions, said that these buyers were “green pioneers” and that in honor of Earth Day, a ceremony this week involving the City Council speaker, Christine C. Quinn, would honor about a dozen customers.
Commercial purchasers of wind power in New York vary widely in size. They include, for instance, John Masters Organics, a 2,000-square-foot hair salon and hair and skin care company in SoHo, and Chelsea Piers, the one-million-square-foot sports and entertainment complex on the Hudson River.
With few exceptions, commercial users of wind power in New York do not generate this power on site, but rather buy it from companies like ConEdison Solutions and its competitors, including Accent Energy and Energetix.
In 1998, ConEdis"
Square Feet
Some of the Bright Lights of New York’s Businesses Are Powered by Wind
By JANE L. LEVERE
The use of wind power by owners of commercial real estate in New York City is rising rapidly, but from a very low base, according to energy service companies, which supply the power to businesses.
Wind power is expected to be a critical component of President Obama’s plan to expand the production of renewal domestic energy, and there are signs that this is starting to happen in New York. ConEdison Solutions, one energy supplier, said its sales of wind power to commercial customers rose 25 percent in 2007 and again in 2008.
Still, only about 250 businesses buy some measure of wind power from ConEdison Solutions. This number represents slightly over 1 percent of its commercial and industrial customers; of these, some 200 get all of their power from wind farms.
Jorge J. Lopez, chief executive of ConEdison Solutions, said that these buyers were “green pioneers” and that in honor of Earth Day, a ceremony this week involving the City Council speaker, Christine C. Quinn, would honor about a dozen customers.
Commercial purchasers of wind power in New York vary widely in size. They include, for instance, John Masters Organics, a 2,000-square-foot hair salon and hair and skin care company in SoHo, and Chelsea Piers, the one-million-square-foot sports and entertainment complex on the Hudson River.
With few exceptions, commercial users of wind power in New York do not generate this power on site, but rather buy it from companies like ConEdison Solutions and its competitors, including Accent Energy and Energetix.
In 1998, ConEdis"
Saturday, March 28, 2009
The federal plan to help you avoid foreclosure -- Newsday.com
BY JONATHAN STARKEY
Special to Newsday
March 13, 2009
If all works as drawn, a mortgage rescue plan unveiled by the federal government last week will help millions of homeowners avoid foreclosure, and millions more could see a reduction in their monthly payments. For those who may need help, here's an outline of both components of the 'Making Home Affordable' plan and some points of advice to consider before calling your mortgage company.
Be persistent
Most housing experts are hailing the merits of patience. Servicers and lenders are expected to be inundated by requests, and some details of the plan are not yet clear to lenders, finance and real estate experts say. (The federal government's Web site is asking people to 'be patient' because lenders might not be ready to start the program. As lenders sign contracts to participate, a list of them will be available at financialstability.gov, according to the site.)
But as homeowners move through the process of refinancing or modifying a loan, being persistent will be a key to success, says Lynn Law, director of education and counseling at the Long Island Housing Partnership, a Hauppauge-based nonprofit that gives affordable housing opportunities. Law provides mortgage counseling and has worked with servicers on behalf of borrowers seeking mortgage modifications.
THE POTENTIAL TRAP Timid borrowers might not press servicers about the status of their applications, Law says, adding that this might cause a delay in getting help.
ADVICE Make that second call - and a third and fourth, Law says. Do not assume the lender or servicer r"
Special to Newsday
March 13, 2009
If all works as drawn, a mortgage rescue plan unveiled by the federal government last week will help millions of homeowners avoid foreclosure, and millions more could see a reduction in their monthly payments. For those who may need help, here's an outline of both components of the 'Making Home Affordable' plan and some points of advice to consider before calling your mortgage company.
Be persistent
Most housing experts are hailing the merits of patience. Servicers and lenders are expected to be inundated by requests, and some details of the plan are not yet clear to lenders, finance and real estate experts say. (The federal government's Web site is asking people to 'be patient' because lenders might not be ready to start the program. As lenders sign contracts to participate, a list of them will be available at financialstability.gov, according to the site.)
But as homeowners move through the process of refinancing or modifying a loan, being persistent will be a key to success, says Lynn Law, director of education and counseling at the Long Island Housing Partnership, a Hauppauge-based nonprofit that gives affordable housing opportunities. Law provides mortgage counseling and has worked with servicers on behalf of borrowers seeking mortgage modifications.
THE POTENTIAL TRAP Timid borrowers might not press servicers about the status of their applications, Law says, adding that this might cause a delay in getting help.
ADVICE Make that second call - and a third and fourth, Law says. Do not assume the lender or servicer r"
Thursday, March 26, 2009
Friday, March 13, 2009
Monday, March 9, 2009
Monday, March 2, 2009
Saturday, February 28, 2009
Monday, February 2, 2009
Tuesday, January 27, 2009
Monday, January 26, 2009
Saturday, January 24, 2009
Thursday, January 22, 2009
Tuesday, January 13, 2009
Thursday, January 8, 2009
Wednesday, January 7, 2009
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