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Outside investors target tertiary markets for better yields

Local investors beware: Central Pennsylvania is on the map for outside groups looking for higher returns. Last month, The Solomon Organization , a New Jersey-based operator of multifamily properties, closed on a $25.7 million purchase of the newly built Ivy Ridge Apartments in Swatara Township . That price — $117,913 per unit — is the highest in the Harrisburg market this year. It also marked the company's first foray into the Harrisburg area after landing in Lancaster County six years ago. It owns six communities in Lancaster County and more than 1,200 units. "Two years ago, you said 'Harrisburg' and people would just hang up the phone," said Zachary Pierce, director of the National Multi Housing Group in Philadelphia for Marcus & Millichap Real Estate Investment Services . Outside investors were interested only in primary markets such as New York City and Washington, D.C., and maybe Philadelphia, he said. But as prices have shot up in those prime areas, th...

4 bidding mistakes that can cost you your dream home

We finally found a place we both wanted to call home, a modern,  remodeled single-family townhouse in Bushwick   a few blocks from the M and J trains, and miraculously, it was within our budget. And because it had been sitting on the market for a few months, the sellers were entertaining any offer. Our realtor encouraged us to put a bid in. The bid process is relatively easy, especially if you have a realtor. After looking at the comparable properties in the neighborhood, we figured out a price we thought was reasonable,  10 percent below asking.   Our realtor emailed an offer, noting how much we would need to finance, and attached our mortgage pre-approval letter (more on that later). We sat and waited, nervously. Unfortunately, this part of the story doesn't have a happy ending. We actually ended up losing this house ,  and four other properties,  before eventually buying our current condo. It's the best of them all, but I may be biased because it's the one we got. Here ...

Marvel Comics Meet Reality On The Not-So-Mean Streets Of Hell's Kitchen

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Hell's Kitchen has long served as pop culture shorthand for New York City at its grittiest. Four popular Netflix series based on Marvel Comics heroes use this neighborhood as a backdrop. Now those characters — Daredevil, Luke Cage, Jessica Jones and Iron Fist — will team up in one of this summer's most hotly anticipated TV shows , The Defenders . But does their version of Hell's Kitchen bear any resemblance to the real city? I went to Hell's Kitchen with Fred Van Lente , a comic book writer and historian who's lived in New York City for decades. He says the neighborhood was once an infamous den of crime. In the 19th century, the story goes, a couple of cops were policing a riot near Tenth Avenue. One called it Hell. "And the other cop said, 'No, no, Hell is a much milder climate. This is hotter. This is Hell's Kitchen. And so that's where the name comes from." The scrappy Hell's Kitchen mythologized in the Marvel universe is filled with...

Apartments For Rent in Rochester New York

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HANNA PROPERTIES Apartments in Rochester, NY : Park Ave, East Ave, University Ave Hanna Properties owns, maintains and rents a variety of properties located in the upscale, historic Park Avenue and East Avenue area of Rochester, N.Y. This area is home to museums, art galleries, numerous trendy restaurants , coffee houses, and shops – all within easy walking distance . Among our apartments for rent, you can find roof-top gardens, exercise and laundry facilities and off-street parking. All of Hanna Properties apartments and houses are located within two of the city’s more desirable areas – the Park Avenue area and the East/University area, also known as the neighborhood of the arts. These colorful, chic, historic and cultural neighborhoods are popular with those who enjoy a lively, urban lifestyle. The tree lined streets , unique shops, galleries, architecturally varied houses and more, bring a unique and complex character to the area. Apartments For Rent In Rochester NY [embedded...

In the ’90s, We Had ‘Friends.’ Now They Call It Co-Living.

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More prosaically, co-living can simply mean roommates and common rooms, like a dorm. For some developers, it’s a form of adaptive reuse: many co-living sites, like WeLive at 110 Wall Street , are leased, in this case from the landlord of what once was an office building, drained of its tenants by Hurricane Sandy. Slide Show Adventures in Co-Living Credit Photographs by Andrew White for The New York Times There are still co-living evangelists, like Brad Hargreaves of Common, who has promised that “the genuine and organic relationships our members build with each other,” as he wrote in a post for Medium, would not be tainted by allowing journalists to sleep over at Common properties (though they were welcome to tour). With over $23 million in financing, Common now operates in five cities, including out of eight houses in New York City. Some co-living ventures have collapsed under the weight of their ideals, like the utopian Pure House , started by Ryan Fix, now 42, in his Williamsburg l...

New York’s Trump Tower, a sky-high home for celebrities and charlatans

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Hillary Clinton slept here. The year was 2000. Clinton was in the middle of her first political campaign, running to be New York’s junior senator. Steven Spielberg, an enthusiastic donor to Mrs Clinton who had the use of a pied-à-terre in Trump Tower purchased for him by Universal Pictures, barely stayed at the place, despite its views of Central Park, and offered it to the candidate as a crash pad on gruelling campaign days . Trump Tower in New York. Photo: Bloomberg Donald Trump and Clinton were on good terms back then. He donated money to her candidacy and called her “tough and smart”. Moreover, Trump was skilled in the art of spinning his associations with celebrities into publicity. This was particularly true at Trump Tower. Michael Jackson lived in Donald J. Trump’s gleaming Midtown edifice . So have gamblers, a disgraced dictator, a Ponzi schemer and a stock huckster. Credit Photo Illustration by Peter Horvath; photographs by Chad Batka for The New York Times (Trump); Hiroko...

Chip and Joanna's 'Fixer Upper' Special and Other Celebrity Homes You Can Buy or Rent

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August 26, 2017 Chip and Joanna love fixing up houses, and even offer a popular rental house | HGTV.com You may not be a celebrity, but you can live like one. The rich and famous love selling (and renting) luxury real estate almost as much as they like buying it. Provided you have the money, you can move into a home where the glitterati once slept. You might even be able to score a relative bargain in the process. Celebrities sometimes have trouble unloading their over-the-top homes, research by Redfin has found. The real estate website looked at 60 homes celebrities bought and sold, and compared them to similar homes that weren’t purchased by famous faces. The stars’s homes not only took longer to sell, but they also tended to sell at a discount. It wasn’t unusual for celebrity home s to sell for $1 million or more under the original asking price. ")}; Sometimes a celebrity’s home takes a while to sell because of unique design features or amenities that don’t appeal to al...