The Feds today denied Clipper Equity’s bid for the Starrett City housing complex in Brooklyn for the second time, saying that the buyer would not be able to maintain the largest federally subsidized complex in the nation as affordable housing after paying $1.3 billion for it.  read more »

"The plan is and had been evolving," Clipper spokeswoman Lisa Linden told The Real Estate on Monday afternoon. "We are involved in a process. We are responding to the concerns of Secretary Jackson, Senator Schumer, Mayor Bloomberg, DHCR, Attorney General Cuomo and Congressman Towns. Responding to tenant concerns is also part of the process. Clipper Equity is in this to stay."

• No more gunfire across the bay for City Islanders.
[NY Times]
• Chumley's wall collapse sparks many happy memories.
[NY Times]
• Hey, apartment hunters, don't forget to ask about...
[NY Times]
• An author of lower Fifth finds 'the best place to be.'
[NY Times]
• Two West 56th Street townhouses closely linked.
[NY Times]
• More luxury housing overlooking Green-Wood Cemetery.
[NY Times]
• Mortgage products straining 'mathematical capacities.'
[NY Times]
• Co-op to condo conversion more trouble than its worth.
[NY Times]
• Security deposits--when can a new landlord demand one?
[NY Times]
• Can a co-op board member campaign for someone?
[NY Times]
• Housing slump hits state tax revenues nationwide.
[NY Times]
• Coffeeshop dusting off grit to please new East Village.
[NY Times]
• Hamptons papers to clash over real-estate advertising
[NY Times]
• Memories of the almost-2nd Avenue Subway.
[NY Times]
• City shutters Chumley's indefinitely, despite 'secure' building.
[NY Post]
• State rejects second Starrett City bid by Bistricer.
[NY Post]
• Battle looms in Albany over loft-tenants law.
[NY Post]
• Brokers push to land more foreign buyers.
[NY Post]
• Empire State Building owners sue parachuter for $12 M.
[Daily News]
• MTA to domolish buildings for 2nd Avenue Subway.
[Daily News] UPDATE:
• Face it: Jonathan Miller will appraise your apartment.
[New York]
• New York living as marketing tool nationwide.
[New York]

Did we miss any New York City real estate news this morning? Please send along tips and links.

]]> http://www.observer.com/node/35978#comments Real Estate Albany Jonathan Miller Starrett City The New York Times Company Mon, 09 Apr 2007 03:00:00 -0400 Observer Staff 35978 at http://www.observer.com http://www.observer.com/node/35976 Friday morning's New York Times seemed to suggest that David Bistricer's (and Bruce Teitelbaum's) second bid for Starrett City might have a chance. Indeed, it was all about how Mr. Bistricer was enlisting the help of ministers to take his case to the federal Department of Housing and Urban Development, which holds the mortgage to the housing complex and was the entity that doomed the first bid.

But a letter last night from the state Department of Housing Conservation and Renewal (DHCR) may have killed the plan first. Commissioner Deborah VanAmerongen wrote that the plan "would be unworkable under existing statutory law... For these reasons we must disapprove the plan."

"We read it - and more importantly, we understand that DHCR reads it - to mean that HUD or no HUD - the elements of the deal that require state approval will not be forthcoming - hence dead," Jonathan Rosen, a spokesman for the affordable housing advocacy group ACORN, said in an e-mail.

The DHCR letter says that the new plan would have raised rents to "street rents" and caused "the divestiture of all potentially income-producing non-residential property."

The Real Estate is waiting for a return call from Mr. Bistricer's spokesman.

The Times' Empire Zone blog has more on whether the proposal is dead or not here.

- Matthew Schuerman]]> http://www.observer.com/node/35976#comments Real Estate David Bistricer Department of Housing Conservation and Renewal Starrett City U.S. Department of Housing and Urban Development Fri, 06 Apr 2007 13:28:05 -0400 Observer Staff 35976 at http://www.observer.com http://www.observer.com/node/35972
• Police academy moving from Gramercy to Queens.
[NY Times]
• Bistricer calls out big guns on Starrett City deal.
[NY Times]
• City to launch 'Trans Fat Help Center' for restaurants.
[NY Sun]
• High rents drive out Astor Place Barnes & Noble.
[NY Post]
• Quinn proposes mortgage-counseling program.
[NY Post]
• MTA casts wide net for top NYC Transit post.
[Daily News]

Did we miss any New York City real estate news this morning? Please send along tips and links.

]]> http://www.observer.com/node/35972#comments Real Estate Barnes & Noble Inc. New York City Starrett City The New York Times Company Fri, 06 Apr 2007 04:30:33 -0400 Observer Staff 35972 at http://www.observer.com http://www.observer.com/node/37036 Jay Kennedy Remembered   To the Editor:    read more »]]> http://www.observer.com/node/37036#comments Jay Kennedy Mario Cuomo Ron Rosenbaum Starrett City Sun, 01 Apr 2007 20:00:00 -0400 Observer Staff 37036 at http://www.observer.com http://www.observer.com/node/37233 Jay Kennedy Remembered   To the Editor:    read more »]]> http://www.observer.com/node/37233#comments Jay Kennedy Mario Cuomo Ron Rosenbaum Starrett City Sun, 01 Apr 2007 20:00:00 -0400 Observer Staff 37233 at http://www.observer.com http://www.observer.com/node/36985 Congressman Towns Responds   To the Editor:    read more »]]> http://www.observer.com/node/36985#comments Rex Reed Spencer Morgan Starrett City Suri Kasirer Sun, 25 Mar 2007 20:00:00 -0400 Observer Staff 36985 at http://www.observer.com http://www.observer.com/node/37000 Andrew Cuomo isn’t doing interviews. (Really.)    read more »]]> http://www.observer.com/node/37000#comments Politics Hank Sheinkopf Mark Green Rob Ryan Starrett City Sun, 25 Mar 2007 20:00:00 -0400 Azi Paybarah 37000 at http://www.observer.com http://www.observer.com/node/37226 Congressman Towns Responds   To the Editor:    read more »]]> http://www.observer.com/node/37226#comments Rex Reed Spencer Morgan Starrett City Suri Kasirer Sun, 25 Mar 2007 20:00:00 -0400 Observer Staff 37226 at http://www.observer.com