Browsing: Real Estate

Real Estate
$1.4 Million Homes in Connecticut, New York and South Carolina

What You Get for $1.4 Million24 PhotosView Slide Show ›Michael BowmanCornwall, Conn. | $1.395 MillionA stone house dating to 1922 with four bedrooms and three and a half bathrooms, on a five-acre lot with a pond and a waterfallWhen Charlotte Bronson Hunnewell Martin built the great stone house known as Cornwall Castle as a country retreat in the 1920s, she added a pottery to the estate and hired an Italian potter named Vincenzo Rondinone to run it. The building, which has a dozen gables and 18-inch-thick fieldstone walls, was eventually converted into a residence. In the late 1990s, the potter’s son, Nicholas Rondinone, an architect, bought it, updated it and built additions. The current owners bought the property in 2000 and installed a new kitchen. They also added a detached two-car garage.The house is in rural Litchfield County, about 100 miles northeast of New York City and 150 miles southwest of Boston. It is about three miles southwest of the Cornwall village center and Mohawk Mountain ski area and eight miles southeast of Housatonic Meadows State Park.Size: 2,599 square feetPrice per square foot: $537Indoors: The main entrance opens into the original kitchen — a rebuilt foyer with radiant-heated limestone floors,

Real Estate
It’s (Nearly) Fall: Which Plants Can You Bring Inside?

Apologies to the Clash, but it’s time to decide: Should it stay or should it go now? From the canna planted by the corner of the porch in spring to the hanging basket of petunias perched nearby, many plants that provide seasonal garden color aren’t winter-hardy. But can we bear to simply compost them when frost arrives?Dennis Schrader is a veteran plant-stasher, with an inventory of some 1,600 kinds of tropicals, unusual annuals and more, carried over year to year. That expertise — knowing which to overwinter as seed, cuttings or houseplants, and which to keep dormant in the equivalent of a root cellar, and at what temperature and humidity — is at the foundation of Landcraft Environments, Ltd., the wholesale nursery he and his husband, Bill Smith, founded in 1992.They began the Mattituck, N.Y., nursery because Mr. Schrader couldn’t find the unusual plants he wanted for the design-build landscape business he had at the time. So they started propagating the plants themselves. One home greenhouse eventually begot a farm, and many more.So should gardeners bother trying to save the plants they’ve been laboring over all summer or just buy replacements come spring?“There are some that are really worth keeping,

Real Estate
CESA tackles foreign property stimulus

CESA tackles foreign property stimulus Reopening for tourists advised High-rise condominiums along Sukhumvit Road near the Asok intersection in Bangkok are popular with foreign buyers. Patipat Janthong Property developers need new mechanisms to draw in the foreign market as the Center for Economic Situation Administration (CESA) is set to consider a stimulus package for this sector today. There are two CESA agenda items focusing on the property sector: aid measures and a co-project with Thailand Elite Card to boost condo sales from foreign buyers. Chanond Ruangkritya, president and chief executive of SET-listed Ananda Development, said Thailand should reopen to tourists at specific destinations such as Phuket and Samui, with a focus on markets with high potential such as China. If the government can regain at least 20% of tourism revenue in those provinces, the property sector will also benefit. Local residents should have the right to vote to determine whether they are ready to take risks in allowing tourists back in

Real Estate
Golden Land to boost Samyan revenue

Samyan Mitrtown mixed-use complex was opened in September 2019. Golden Land Property Development Plc, the operator of Samyan Mitrtown retail complex, vows to optimise the complex’s retail space in the final four months this year, increasing its rental revenue which has been devastated by the Covid-19 outbreak. Thiranant Kornsritipa, executive vice-president for retail business development, said Golden Land is looking to make the best use of space at the retail complex, renting to new tenants in order to offset lower overall revenue. “Our rental revenue dropped by 50% during the state lockdown, and has yet to recover,” said Ms Thiranant. “More importantly, we still continue supporting some tenants with discounts on their rent.” She said the company reduced its marketing budget and other expenditures. However, after lockdown restrictions were eased on May 17, Ms Thiranant said visitors to Samyan Mitrtown recovered rapidly, reaching 60,000 visitors per day now, or 80% of the visitor count before the pandemic. Its occupancy rate for retail space reached 97% from June to August, up from 93% during September 2019 to February 2020.

Real Estate
Mesa Thai gains 21.4% stake in Raimon Land

Mr Kris says the deal will open new opportunities. Investment firm Mesa Thai Pte Ltd has acquired a 21.4% stake in real estate company Raimon Land Plc by acquiring 893 million shares from existing shareholders. The deal makes Mesa Thai the second-largest shareholder of Raimon Land, after KPN Land Co. “Having Mesa Thai as Raimon Land’s shareholder will help strengthen our leadership position in the luxury real estate market,” said Kris Narongdej, chairman of the board at Raimon Land. “This collaboration will also open opportunities to expand into new business segments in the future.” Mesa Thai is owned by Kwee Liong Tek, chairman of Pontiac Land Group, a Singaporean developer with properties such as Ritz-Carlton Millenia Singapore, Conrad Centennial Singapore and Capella Sydney. “Mesa Thai is pleased to become a significant shareholder of Raimon Land,” the company said in a release. “We have strong confidence in Thailand’s economy and see great potential in the business of Raimon Land. “Our representatives to Raimon Land’s board of directors look forward to working closely with its chairman and other directors, enabling

Real Estate
The Perfect Mix: Politics and Comedy

When Chelsea Connor first saw Will Carey, all 6 feet 7 inches of him, in June 2014, he was onstage at the comedy club Caroline’s on Broadway, discussing the gentrification of the chopped cheese sandwich.“I’m a Brooklyn girl and I’ve been eating that chopped cheese sandwich since I was a kid, so I could instantly relate,” said Ms. Connor, 31, the director of media relations and communications for the Retail, Wholesale and Department Store Union, a New York-based labor union and division of the United Food and Commercial Workers International Union.“He did a lot of observational humor and had so many funny bits that just got to me,” she said. Mr. Carey, 34, whose height helped him notice Ms. Connor sitting with friends on a crowded evening, was a lot more observational than she first thought. When his standup routine ended, he walked off the stage and made a beeline for her and introduced himself.“I just saw her and thought she was very beautiful,” he said. “When I started talking to her, I thought she was particularly smart and interesting, and I wanted to know more about her.”He asked if he could escort her to the subway station, and Ms.

Real Estate
That Roof Deck Makes for a Nice One-Room Schoolhouse

Vanessa Phillips was sold on a two-bedroom apartment at One Hundred Barclay, a luxury condo conversion in TriBeCa, because of the enviable amenity space she saw when she visited the building in February. The Ralph Walker-designed Art Deco tower has two landscaped terraces, a media room, music rooms, a wine lounge, a billiards room and a fitness center with two pools, all of which were closed during the pandemic, but are now in the process of reopening. But even with the fitness center and boxing studio available again, Ms. Phillips, 38, finds that she is most appreciative of the roof deck, where her 7-year-old son, Finn, has been able to spread out with other children in the social pods that she has set up for him. Ms. Phillips moved from Williamsburg to TriBeCa in July, and has spent the summer connecting with other families in the neighborhood and the building, looking for children interested in joining board-game sessions at the roof deck’s long tables.The first gathering happened in early September. She is now working on setting up a learning pod for a group of five to seven children, with plans to hire a tutor once the school year starts at

Real Estate
In New Development, Buyers Favor the Boroughs

When it comes to new development, buyers who are choosing to stay in New York — and have the means to stay — are choosing Brooklyn and Queens.Five months after Covid-19 crippled the city’s real estate market, sales across the city are down, but the boroughs beyond Manhattan are faring better, in some rare cases even exceeding pre-pandemic expectations.While the New York exodus, to the suburbs and beyond, has so far been overstated, many of those who have left were affluent residents with second homes and had played a disproportionate role in supporting the overpriced Manhattan condo market, which was already slumping before Covid-19. Citywide, more than 60 percent of new condos remain unsold — and much of that supply had accumulated before the virus arrived, according to Kael Goodman, the chief executive of Marketproof, a real estate analytics company.Now the market is leaning once again on first-time and move-up buyers, many of whom are working from home, thinking less about their commute time and more about savings. New York has not been a welcoming market for young buyers, indeed some would-be buyers have been pushed out because of rising costs and job loss, while others may have moved elsewhere

Real Estate
Central bank says revised LTV rules will stay put

The revised loan-to-value (LTV) regulations will remain in place to curb risks accumulating in the property sector, says the Bank of Thailand. The central bank has continuously monitored and assessed the property sector since the revised LTV rules took effect in April 2019, said Nawaron Dejsuvan, assistant governor of the financial institutions policy group. The confirmation of the LTV regulations comes after last week’s meeting between government officials and property sector representatives. The latter submitted several requests, including annulment of the LTV curbs and a reduction of property transfer fees, according to Prop2morrow.com. Based on central bank data, housing loans expanded by 4.4% year-on-year in the second quarter, up from the first quarter’s 3.4%, despite the coronavirus crisis. The uptick shows that the LTV regulations were not an obstacle for homebuyers to access mortgage loans and that financial institutions still provided new loans to borrowers with loan repayment ability, Mrs Nawaron said. “The LTV regulations help mitigate Covid-19’s impact on the property sector and the overall economy, as they help decelerate artificial demand and property supply,” she said. The central bank has loosened the revised LTV regulations twice to align with the ongoing circumstances,

Real Estate
Homes for Sale in Brooklyn, the Bronx and Manhattan

Click on the slide show to see this week’s featured properties:In Red Hook: a three-bedroom, two-and-a-half-bath, 2,040-square-foot brick townhouse built in the 19th century, with a dining room, a recently renovated pass-through kitchen and seven closets, as well as a backyard, a deck, a terrace and a private parking space reached from the street behind the home. In Kingsbridge: an 800-square-foot, one-bedroom, one-bath apartment with a balcony and deep closets on the second floor of a six-story 1970s building that’s close to the subway, with a part-time doorman, a laundry room, bike storage and parking.In Midtown East: an 1,150-square-foot, two-bedroom, one-and-a-half-bath apartment with a wood-burning fireplace, beamed ceilings and restored casement windows in an 11-story prewar doorman building with a roof deck and garden.For weekly email updates on residential real estate news, sign up here. Follow us on Twitter: @nytrealestate.