The end of the zebra? Not hardly, but it's a start

One block over and you're history, honey – SORRY

One block over and you're history, honey – SORRY

A friend alerts me that Cindy Sikorsky Rinfret is moving off Greenwich Avenue to cheaper digs on Lewis Street vacated, tellingly, by a hedge fund headed south.

It would be grossly unfair to blame this Russian helicopter-heiress for everything that's gone wrong in Greenwich over the past decades: Lily Pulitzer pioneered the path to destruction long before Sikorsky first alight here, but she did play her part, and her fellow Greenwich wannabes have combined to effectively ruin half of what we realtors are tying to sell.

So thanks a lot.

I've never been quite comfortable with the ethics of this

The owner of 106 Lockwood Road in Riverside is offering agents a 4%, rather than 2.5% commission if we'll sell his spec project for him. That's generous of him, and I suppose that, so long as an agent discloses the premium to his client, it's okay, but still .... buyers agents owe a fiduciary duty to their clients to serve them with absolute, undivided loyalty, so how do we reconcile that duty with an opportunity to push a house that puts almost twice the normal take into our pocket? Shouldn't we insist that the seller reduce his price so that our client, not us, benefits?

Fortunately I don't have a client right now who's interested in this price range in this part of town, so I can keep my musings confined to a quiet holiday- Friday afternoon, and not worry about it too much, but it does make me wonder.

The Owner has decided to give all the Buyer's agents an amazing incentive to sell their property now.  They are offering the selling agent a 4.0% commission of the sales price of this new construction home until July 15, 2017.  Yes, 4.0%!  That is like selling a property worth almost $6,000,000 with a 2.5% commission rate.  
So, don't wait.  Bring your buyers and show them this new construction home today.  Easy to show - call the listing broker for an appointment & then use the key box on the front door. 
You don't see this opportunity very often in today's market, so take advantage of it now.  I know you and your client will appreciate all this home has to offer.



Nice house — wise buy?

6 Plow Lane (off Church) has closed at $5.155 million. That's a substantial discount from the spec builder's original ask of $6.250, but sometimes discounts from illusory prices are deceiving. This price is a new high for the street, and there remain three spec, or nearly-new houses within a few hundred yards from here still going begging. When their prices eventually drop, and they're already below this one's, it will hurt.

It's a very nice house: inside, at least, but my advice is to buy location, not necessarily the house — only one of them holds value.

Of course, given time, even baby BRUSsels sprouts will grow

Of course, given time, even baby BRUSsels sprouts will grow

Another Fountain folly

Oh hell

Oh hell

Plaza Hotel may be on the verge of rescue.

Tied up for years because of its current owner's legal troubles, a Saudi and, implausibly enough, an Israeli company, seem poised to take it over.

As I admit to my own clients, my family has been blowing real estate deals since the early 1600s when, landing with the Dutch at the foot of Manhattan, we decided to settle on Staten Island instead of exploring the possibilities of the land at their feet (in fairness, there were Indian troubles at the time, and Staten Island offered more safety, but still ...). Most egregious, though, was my builder - great-grandfather's decision in the latter-half of the 1800s to turn down an offer of a plot of land in central Manhattan because of the swamp across the street: "anything you build here will have a wet basement", he is supposed to have said.

The swamp is now Central Park's pond, and the Plaza has pumps operating in its basement 24-hours a day. You weren't gonna pull a fast one on ol' Great-Gran-Pa!

Somehow, this reminds me of "Three Irishmen walk into a bar" ...



Three Nigerians sentenced for internet fraud.

Three Nigerians were convicted in a U.S. district court this week for carrying out an elaborate fraud scheme that spanned at least 16 years, the Department of Justice announced Thursday.
A U.S. attorney at the Southern District of Mississippi court sentenced Rasaq Aderoju Raheem to 115 years in prison, Oladimeji Seun Ayelotan to 95 years in prison, and Femi Alexander Mewase to 25 years in prison, the Justice Department said in a statement. The three were extradited from South Africa to Mississippi in July 2015.
Each defendant was found guilty of crimes involving mail fraud, wire fraud, identity theft, credit card fraud, and theft of government property. Raheem and Ayetolan were also convicted for their involvement in conspiracies to commit bank fraud and money laundering.

UPDATE: Bad reporting: U.S. attorneys don't sentence people, judges do. I'll go with the joke, however.