Allan Erps' Blog

Giants owner takes $60,000 per month rental at Trump Park Avenue

February 16, 2012

Giants co-owner Steve Tisch and 502 Park Avenue, #PH23

New York Giants co-owner Steve Tisch is moving in to Donny Deutsch’s old apartment. The New York Post reported the Super Bowl winner is renting Penthouse 23 in Trump Park Avenue, at 502 Park Avenue, for about $60,000 per month.

Deutsch vacated the apartment when he moved into a $21 million townhouse on East 78th Street. It was then reported to be leased to hedge fund investor Douglas Teitelbaum, who was sued by Trump for allegedly backing out of the agreement.

The full-floor, 6,224-square-foot unit is also listed for sale at $33 million by the Trump Organization’s leasing office. It features four terraces with nearly 1,000 square feet of space.

The listing broker for the unit, Modlin Group President Adam Modlin, has worked with several other sports celebrities, including most recently, Alex Rodriguez.

The Post noted that Tisch’s brother, Loews Co-Chairman Jonathan Tisch once lived in the same condo, located near 59th Street. [Post]

City's narrowest house available for rent!!

The city's narrowest house at 75 1/2 Bedford Street in Greenwich Village is now available for rent for $14,000 a month, the New York Daily News reported. The townhouse, past home to Margaret Mead, Edna St. Vincent Millay, Cary Grant and John Barrymore, is 9.5 feet long. A recent buyer gave the 990-square-foot space a renovation, which explains why the home, which was purchased in early 2010 for $2.175 million, has also been up for sale at $4.3 million. The home was constructed in the mid-1800s over a carriage drive between two homes that led to horse stables in the backyard. It is believed to have been built in 1873, but there are some who say that based on land values and on the home's original architectural style, Italiante, it is more in line with 1850s construction. [NYDN]

Jersey City rentals flying off the market!!

 

Carl Goldberg, managing partner of the Roseland Property Company, and Monaco Towers at 435 Washington Boulevard, N.J.

Rental apartments at two new 50-story towers in Jersey City are being snatched up at the rate of more than 100 a month despite highly competitive pricing, the New York Times reported.

"We've been leasing at the fastest pace I've ever experienced in my entire career," said Carl Goldberg, a managing partner of the Roseland Property Company, which is handling leasing at Monaco Towers at Jersey City's 435 Washington Boulevard.

Roseland may be offering two free months' rent with a 14-month lease, Goldberg said, but that doesn't account for the properties' success.

"The rents are as high as residential rents have ever been, up to $41 per square foot for the premium units, and people are eating it up," he said. "We rented 370 apartments in three months," from mid-May to mid-August.

It's a pattern that other companies are seeing.

The rental market is "very tight, very hot," said Martin Brady, vice president of sales at the Marketing Directors. "We rented 348 homes at 225 Grand" in Jersey City, an Ironstate Development building, "in under 10 months," Brady said. "At the Berkshire," another Ironstate property, in Hoboken, "we rented 90 homes in under four months." [NYT]

The 'Jersey Shore' house: Alcohol sold separately?

By Inman News
 

Sleep where Snooki slept. The house in Seaside Heights, N.J., that was the scene of the action in the "Jersey Shore" reality series and where ultra-tanner Nicole "Snooki" Polizzi became a household name is available for $2,500 a night.

"You can sleep in the same bed Snooki slept in and eat on the same dining room table the cast used during their weekly Sunday dinners," Seaside Realty broker Mike Loundy told AOL News.

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New site highlights NYC's worst landlords

Housing code violators concentrated in city's poorest areas

 Landlord Sam Suzuki, Public Advocate Bill de Blasio

[Update: 2:29 p.m.] A new website is calling out 153 landlords whose buildings are so dirty or unsafe that they have earned a spot on the city's list of shame. Among them is Alan Fein -- whose Bronx tenants live with allegedly urine-soaked hallways, crackhead squatters and rat-infested toilets -- and Chris Grijalva, whose reported roach-infested Brooklyn building has a giant pile of garbage on the front lawn.

The site, which launched today, allows tenants to look up a building owner by name and address, and displays an interactive map of alleged slumlord buildings across the five boroughs. Tenants can also nominate landlords for scrutiny; the site will update names based on tenant information and data on the worst health and safety violations from Department of Housing Preservation and Development. HPD has a list of 200 buildings that get special attention from the city because their owners have high numbers of housing code violations, but it isn't sortable and can't be searched by landlord.

"We want these landlords to feel like they're being watched," Public Advocate Bill de Blasio, who started the site, told the Daily News, which first reported the launch. "We need to shine a light on these folks to shame them into action."

Unsurprisingly, data from the new site shows that many of the apartment buildings on the watch list are located in the city's poorest areas. In Manhattan, all but one of the landlords' properties are located above 119th Street, while Bushwick, Crown Heights and East New York are among the Brooklyn neighborhoods with frequent housing code violations. The South Bronx is also dotted with New York's so-called "most irresponsible landlords."

Earlier this month, The Real Deal interviewed Sam Suzuki, the former landlord who spent a month in jail on civil charges and landed on the Village Voice list of the city's 10 worst landlords.

Last week, the City Council unanimously passed legislation requiring landlords in New York City to register the names of all individuals with 25 percent or greater ownership stakes in the corporations that own their residential buildings. The new disclosure requirement represents a renewed effort to crack down on slumlords who hide behind corporate entities and make it difficult for their tenants to track them down.

RentJuice acquires competitor Kahoots!!

By Inman News
March 03, 2011

Following a $6.2 million round of financing, rental tech site RentJuice has acquired Boston-based competitor Kahoots, the site announced Thursday.

Financial terms of the deal were not disclosed. With the move, RentJuice will also open a Boston office and Kahoots founder Janak Sanariya will stay on as director of East Coast operation for RentJuice. Kahoots' customer data will be integrated with the RentJuice technology platform.

The platform, which RentJuice calls a "virtual rental office," allows property managers and landlords to share available properties, directly and in real time, with partner agencies that they select. In addition, the company offers tools to assist with advertising, lead management and lease paperwork, credit reports, background checks, and applications.

As a result of the latest round of financing, the company also announced a price drop to its RentJuice Pro offering. Previously, RentJuice charged per user per month, so that a brokerage with five agents paid a total of $245 a month while a brokerage with 40 agents paid $1,560 per month. Now, brokerages with up to 100 agents pay a flat rate of $129 per month.

The company also offers a free product, RentJuice Free.

RentJuice operates in the Boston, Chicago, Miami and New York markets.

The company won a developer challenge at Inman News' Real Estate Connect conference in July 2010 in which four developer teams built brand-new real estate-related Web applications in 48 hours. The company built CallJuice, which routes client calls to predetermined phone numbers so that real estate professionals don't miss calls.