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In the past month, 1170 homes have been sold in New York. In addition to houses in New York, there were also 28285 condos, 700 townhouses, and 4042 multi-family units for sale in New York last month. New York is a fairly walkable city
In her late-career novel “Hudson River Bracketed,” Edith Wharton memorialized the landscape just north of New York City—the “precipitate plunge of many-tinted forest, the great sweep of the Hudson, and the cliffs on its other shore.” In Wharton’s time, upstate was where Manhattan’s wealthy migrated seasonally, taking trains to enormous homes like Wyndcliffe, in Rhinebeck—the stolid mansion of Wharton’s aunt, Elizabeth Schermerhorn Jones, which is said to be the source of the phrase “keeping up with the Joneses”—or the Mills family’s sixty-five-room Staatsburgh mansion, designed by McKim, Mead, and White and thought to be the inspiration for Bellomont in “The House of Mirth.” If they didn’t decamp to Beaux-Arts piles, they sought “the elaborate rusticity of an Adirondack camp,” as Wharton put it in that novel. For the gentry, leaving the city was practically compulsory, she wrote in “The Custom of the Country”: “In the early summer New York was
The city is still reeling from the virus. The number of apartments sold in Manhattan in the last three months was down 46 percent, compared to the same period last year. There is a gaping budget deficit, crime is on the rise, and the share of positive Covid-19 results, while lower than in many other cities, is climbing just as schools and struggling businesses are reopening. In response, the state announced this week that it will once again close schools and nonessential businesses, and sharply restrict attendance at houses of worship in parts of Brooklyn and Queens, as well as in swaths of some northern suburbs, for at least two weeks, based on the severity of recent spikes in new cases.
But there are signs of improvement, too. Outdoor diners line commercial thoroughfares, young families animate the parks, and some cherished cultural institutions are reviving. That renewed energy has contributed
(Bloomberg) — The owner of the New York Sports Clubs and Lucille Roberts gyms is seeking to speed up a planned sale of its business in bankruptcy court as pandemic pressures mount in the fitness industry.
Town Sports International Holdings Inc. asked for court permission to shorten the timeline to sell itself to a group of investors or other interested parties, court papers show. Given gyms’ cash constraints and liquidity needs during the pandemic, the company is seeking to complete the sale by early next month. Lenders have submitted an initial credit bid for around $80 million.
(Reuters) – Town Sports International Inc, the owner of New York Sports Clubs, filed for Chapter 11 bankruptcy on Monday and plans to sell itself, after the coronavirus pandemic forced its gyms to close and caused revenue to dry up.
Saying the pandemic “wreaked havoc” on its operations, Town Sports and 161 affiliates filed for protection with the U.S. Bankruptcy Court in Wilmington, Delaware.
As of March 31, Town Sports operated 185 fitness centers, including 99 New York Sports Clubs, with about 580,000 members.
The company’s brands also include gyms in Boston, Philadelphia and Washington, D.C. named for those cities, as well as Lucille Roberts and Total Woman Gym and Spa. Assets and liabilities totaled between $500 million and $1 billion.
Gym operators have suffered as the pandemic deprived them of the monthly membership and personal training fees that generate much of their revenue.
Gold’s Gym International Inc filed for
New York Gov. Andrew Cuomo argued that nursing homes “never needed” to accept Covid-positive patients from hospitals in the state.
During a press call Wednesday, Finger Lakes News Radio asked Cuomo about his administration’s advisory in late March requiring that nursing homes accept the readmission of patients from hospitals, even if they were positive for Covid-19.
Cuomo argued that the advisory was a precaution if hospitals became overwhelmed
As the pandemic stretches on, office buildings sit empty as their tenants work from home, and brick and-mortar stores continue to lose ground to online shopping. Witness the bankruptcies of major retail giants J.C. Penney and Neiman Marcus, and the pile of Amazon deliveries in your building lobby, as clear evidence.
Some developers are already responding to these changes by converting nonresidential spaces for other uses, including as residences. But this idea isn’t new — just look at Manhattan’s SoHo neighborhood, once home to manufacturing and now among the city’s most expensive residential areas, known for lofts converted from factory floors.
A recent study by RENTCafé examined the conversion of commercial and institutional spaces to homes over the past seven decades, and found that they’ve never been more prevalent, with the 2010s posting a record number of such conversions.
The study, which informs this week’s chart, reports that across the
Baltimore County | $825,000
A 1937 Tudor house (with a big dash of French eclectic style), with four bedrooms and three and a half bathrooms, on a 0.27-acre lot
This stucco-and-stone-clad house is in Baltimore County, a few blocks north of the Baltimore city line, which puts it within easy distance of downtown workplaces and cultural activities (the National Aquarium, for instance, is 20 away minutes in light traffic), yet means it is subject to the county’s lower tax rate.
It is in the Pinehurst neighborhood, where most houses date from the 1920s to the 1940s, the streets have leafy canopies and the median sale price is about $660,000. Hunt Valley, a business and shopping hub, is about 11 miles north. The sellers have owned the property for 27 years and have made a number of structural interventions. They dug out the basement to increase its height and built a