Why They Call It Morningside

What's in a name?

The area that is now Morningside park was described as "inconvenient for use" by a city surveyor in 1867, meaning difficult to build property on, so it was made into a park, which was called "Morning-side park" because its east facing slope catches the morning sun. The neighborhood that developed around the park became Morningside Heights.

For many years, the Cathedral of Saint John the Divine, tried to get people to call the area Cathedral Heights, but was unsuccessful. The Cathedral, built before the impact of skyscrapers was intended to tower over the city. It does not, but West 110th Street is called Cathedral Parkway.

Morningside Heights Listings

 

 

 

No 7 Subway Extension to Hudson Yards

Mayor Bloomberg, City Council Speaker Quinn (Photo Credit: Edward Reed)

City officials announced the completion of the tunnel mining for the extension of the Number 7 subway from 42nd Street and 7th Avenue at Times Square to 34th Street and 11th Avenue in the Hudson Yards area in Midtown West Manhattan. 

The $2.1 billion project, funded by the City and managed by the MTA, is the first subway expansion in decades, creating nearly 500 construction jobs.

Work will soon begin on station entrances and finishes and support facilities such as ventilation and traction power substations. The new service is expected to open in December 2013 as scheduled.

The West Side Yards site is the largest undeveloped single piece of property in Manhattan. The mixed-use master-planned community will be developed by Related Companies and Oxford Properties Group and includes 12 million square feet of commercial and residential development featuring state-of-the-art sustainable design.

The master plan features approximately 5,000 affordable and market-rate residences in nine residential buildings, three world-class corporate headquarters sites, a major destination retail complex including an anchor department store, a 300 room five star and 1,000 room convention hotel, multiple cultural facilities, and a new 750-seat public school, all carefully planned around 12 acres of grand public open space. 

Manhattan Real Estate Market Flash - June 2010

Below is Manhattan Real Estate Market Data for June 2010. Click to view in larger format.

Manhattan 2nd Quarter Corcoran Report Released

The Second Quarter Corcoran Report has been released. The report is a quarterly examination of Manhattan's residential real estate market.

The report utilizes market wide data based on deals that closed in the Second Quarter 2010 (April 1 through June 30) and compares it to closings that took place last quarter and during the same quarter one year ago.

Closings usually occur eight to twelve weeks after a contract is signed (in new development, the wait can be as long as two years); for that reason, the sales activity charted here trails actual market conditions.

The Second Quarter is typically the strongest sales period of the year. The Second Quarter 2010 brought a flurry of buyers back to the residential real estate market in Manhattan.

Approximately forty-seven percent more transactions occurred during Second Quarter 2010 than in the same quarter one year ago, making this the strongest quarter since before the market’s downturn in September 2008.

A variety of factors encouraged buyers this quarter: stabilized prices, lower inventory levels, interest rates at historic lows, increased consumer confidence, a strong lending environment with greater availability of jumbo loan financing, and the completion of many new developments.

Pricing this quarter showed further signs of stability. Market wide, the median price of all Second Quarter 2010 sales was $810,000 with an average of $1,040 per square foot. Overall, these metrics remained at levels nearly equivalent to the Second Quarter 2009 and the First Quarter 2010.

The the role of the first-time home buyer tax credit has been marginal to Manhattan sales, and that the strength of our market is attributable to other factors. New development regained some market share this quarter and accounted for twenty percent of all sales.

download the complete 2nd Quarter Corcoran Report

535 West End Avenue: 21st Century PreWar Condos

Three apartments are still for sale at 535 West End Avenue the new luxury condominium at West End Avenue at 86th Street.

Apartment 3A, a 6 bedroom 5.5 bath 4,396 square foot apartment asking $10 million.

Apartment 5B, a 5 bedroom 4.5 bath 3,744 square foot apartment asking $9 million.

Apartment 16,  a 6 bedroom 6 bath full floor 6,637 square foot apartment asking $25 million.

The luxury development marketed as "21st Century Pre-War Condos" includes an indoor swimming pool with his and hers saunas, a billiards room, and Kosher kitchens for the half-floor and full-floor apartments.

All the homes feature custom Smallbone of Devizes kitchens with attached breakfast/tv room. The kitchens offer La Cornue, Miele and Subzero appliances. Bathrooms are available in 2 different color palettes, and outfitted with Waterworks fixtures, double sink, mahogany or white cabinetry and a selection of mosaic tiled floors and polished stone walls. Homes are fully equipped with Miele side by side Washer & Dryer and AMX technology.

Closings began in March and some of the apartments sold for 20 to 25% discounts from the asking price. It has been rumored that actor Matt Damon, who currently resides in a rental unit at the Belnord, at 225 West 86th Street bought one of the penthouses for $20 million.

Click here to view the apartments.

NYC Solar Empowerment Zones & Tax Abatements

NYC Goal of Reducing Carbon Emissions by 30% by 2030

New York City and Sustainable CUNY have created three Solar Empowerment Zones, strategically selected areas where solar power systems are most beneficial and technically viable, and where development of solar power will be encouraged. Solar power is a reliable, renewable source of electricity for New York City that reduces demand on the City's electrical grid. 

 New York City has over 1.6 billion square feet of rooftops. 

The three Solar Empowerment Zones - on the East Shore of Staten Island, in Downtown Brooklyn, and in Brooklyn's Greenpoint-Gateway section-were designed to reduce peak electricity demand and the associated pollution from dirty plants that operate when demand is at its highest, while also potentially deferring or eliminating the need for costly upgrades to the electrical system. 

Solar Panel Tax Abatements & Installations
  
Record Number of New Yorkers Have Applied for Solar Panel Abatements in 2010. To encourage the use of sustainable technology, the City offers property tax abatements to property owners that install solar panels on their building's rooftops. 

This year, property owners will receive a property tax abatement of 35% of the eligible expenditures over four years with a maximum abatement of $62,500 per year for four years or the building's annual tax liability, whichever is less.

Under the solar panel tax abatement program, solar panels have been installed at 25 buildings across the City, five times the number of systems approved and installed last year. Savings from these installations vary on the size and type of the building.  A single-family house can save approximately $2,600 a year on energy costs.  Property owners can also receive rebates from their utility company

Building owners interested in learning more about the City's sustainable initiatives can visit www.nyc.gov for more information.

Community Meeting about Historic West 86th Street

The rowhouse at 330 West 86th Street
(between Riverside Drive and West End Avenue)
is threatened by demolition.

A "sliver building" may rise in its wake.

The West 80s Neighborhood Association, the Coalition for a Livable West Side, the West End Preservation Society (WEPS), and LANDMARK WEST! will be co-hosting a community meeting next Tuesday, June 8th at 6:30 PM at The Church of Saint Paul and Saint Andrew at 236 West 86th Street.

The meeting is for the community to develop strategies learn how historic district designation can protect 330 West 86th Street and other buildings within the proposed West End Avenue Historic District.

State Senator Eric Schneiderman,  Assembly member Linda Rosenthal, Council member Gale Brewer and Manhattan Borough President Scott Stringer, community board 7 and the community will be attending this important meeting about the west 80's and West End neighborhood.

I recently wrote a blog about the beautiful and distinctive West End Avenue neighborhood and that The West End Preservation Society, is actively seeking to designate West End Avenue from 70th Street to 107th Street a historic district.

In February I wrote a blog that the $25 million mortgage secured by  The Gilbert Townhouses on West 86th between Broadway and West End Avenue was on the market and that community efforts were underway to Save the West 86th Street Townhouses.

Important Community Meeting

Tuesday June 8th, 

at 6:30

Church of Saint Paul and Saint Andrew

86th and West End Avenue

Happy Memorial Day! Lafayette Square, W 114th St., Morningside Ave., Manhattan Ave.

Lafayette Square: Manhattan Avenue, W. 114th Street, and Morningside Avenue

iPhone Photo Courtesty: Mitchell Hall, The Corcoran Group

Manhattan Avenue, 114th Street, and Morningside Avenue bound Lafayette Square, which is located in the Morningside Heights section of Manhattan. The City of New York acquired this property by condemnation on July 28, 1870 along with the land used to build Morningside Park.

The square contains large, shady sycamore trees and a monument entitled “Lafayette and Washington.” French sculptor Frederic-Auguste Bartholdi (1834-1904) designed the bronze statue, which depicts both figures on a marble pedestal, clothed in colonial uniforms, and shaking hands with the flags of their respective countries behind them.

Famed publisher, Joseph Pulitzer (1847-1911) commissioned the sculpture based on the artist’s previous major accomplishment: the Statue of Liberty in the New York Harbor. Bartholdi completed the original “Lafayette and Washington,” which was dedicated in Paris in 1895. At the turn of the century, department store owner Charles Broadway Rouss bequeathed this fine replica to the residents of Morningside Heights.

The Monterey a handsome apartment building made of orange brick designed by Thomas O. Speir in 1891 runs along Morningside Park. The gigantic arch over the doorway is directly opposite Lafayette Square.

In 1892 an advertisement in The  NY Times for the Monterey proclaimed, “Passenger elevator all night. Hot Water. Roof walk.” In 2009, Christopher Gray in his NY Times Streetscape column called The Monterey, "A Charmer That Was Ahead of Its Time."

For more information about purchasing a beautifully restored 3 bedroom currently available at the Monterey click here.

HAPPY MEMORIAL DAY!

SoHo-Cast Iron Historic District Expanded

The Landmarks Preservation Commission on Tuesday, May 11, 2010 unanimously approved the expansion of the SoHo-Cast Iron Historic District in Manhattan by 135 buildings, and for the first time approved the designation of a brewery as a New York City landmark. 

The designations bring to more than 27,000 the total number of properties throughout the City that have earned landmark protection since the Commission was founded in 1965.

Read more

West End Avenue, Upper West Side, Manhattan

The West End neighborhood is one of Manhattan's most beautiful and quiet residential neighborhoods. The majority of buildings along West End Avenue are architecturally distinctive pre-war coops. West End Avenue has the longest stretch of pre-war architecture and ambience in Manhattan.

From neo Renaissance to Art Deco, West End Avenue has stretches of late nineteenth century town houses and several churches and synagogues, but it is almost entirely made up of handsome residential buildings built in the first decades of the twentieth century.

The near total absence of retail on the street marks its quiet, residential character just one block from the hustle and buzz of Broadway.

The West End Preservation Society, is actively seeking to designate the legnth of West End Avenue from 70th Street to 107th Street a historic district.

Both sides of the avenue from West 87th to West 94th Streets are  already designated in the Riverside-West End Historic Distric.

There have only been a couple of new buildings constructed on West End Avenue in the past 50 years. New condos at 200 West End Avenue a glass building located in the Lincoln Square neighborhood at 70th street was completed a couple of years ago. 

535 West End Avenue a new condo at 86th Street, a brick building marketed as 21st century pre-war, currently has some residences available for immediate occupancy.

Architecturally 535 WEA compliments the distinguished pre-war luxury buildings along West End Avenue. The grand size apartments are either half or full floors. Prices range from $8.5 million to $25 million.

535 West End Avenue  apartments feature luxurious pre-war details: rosewood or oak flooring, traditional moldings, well-proportioned rooms with formal library, dining rooms, high cielings and wood burning fire places.

All homes feature custom Smallbone of Devizes kitchens with attached breakfast/tv room. The kitchens offer La Cornue, Miele and Subzero appliances. Bathrooms are available in 2 different color palettes, and outfitted with Waterworks fixtures, double sink, mahogany or white cabinetry and a selection of mosaic tiled floors and polished stone walls. Homes are fully equipped with Miele side by side Washer & Dryer and AMX technology.

Long time residents of West End Avenue remember the beautiful spring day about 10 years ago when the quiet residential West End neighborhood, was awakened early in the morning by Barbara Streisand when she began filming her movie, ''The Mirror Has Two Faces,'' at an apartment building at 505 West End Avenue.

The attractive 14-story building was erected in 1920 and converted to a cooperative in 1988. The building has 65 apartments.

The nicely detailed, red-brick building has a two-story, rusticated limestone base and a step-up entrance with a canopy flanked by lanterns.

It has an Italian Renaissance palazzo-style facade with quoins at the comers and limestone reveals around the third-story windows.

The movie shoot stretched from its expected 3 days to 12 days. (By coincidence, Barbara Streisand, in her youth, took singing lessons in that very building 505 West End Avenue)

Apthorp Apartments, the elegant full-block apartment complex built by the Astor family for the New York elite has converting its 163 apartments to condominiums. The landmark 1908 building has two addresses 390 West End Avenue and 2201-2219 Broadway between west 79th and west 78th streets.

Many of the sought after pre-war apartments on West End Avenue are classic six and classic Seven apartments.

Prices on West End Avenue range from $375,000 for a 550 square foot 1 bedroom to $25 million for a full floor residence in the new 535 West End Avenue.

State Approves Apthorp Condo Conversion

Crain's NY Business reported The Apthorp has been officially approved for condo conversion. State officials have approved the Upper West Side landmark building's condo conversion.

The Attorney General confirmed that the plan was accepted and closings can begin at the 163-unit building, which stretches one city block from West End Avenue to Broadway between 78th and 79th streets.

The Apthorp is one of Manhattan's most dramatic and most frequently photographed apartment buildings. The Apthorp was built in 1908 by the Astor family for wealthy New Yorkers. Many famous New Yorker's have resided at The Apthorp in rent regulated apartments.

The Apthorp apartments are grand and well detailed, the original suites have a room-sized foyer with a mosaic tile floor and there are glass-paneled French doors throughout.    

Current available Apthorp apartments range from 1 bedrooms to 5 bedrooms priced from $1,543,000 to $16.64M                                                                                
iPhone photo courtesy: Mitchell Hall                                                                               

New Development Update: Upper West Side: 535 West End Avenue

iPhone photo courtesy of Mitchell Hall, The Corcoran Group

Closings have begun at the Upper West Side's newest ultra luxury condo building at 535 West End Avenue at West 86th Street. While most of the apartments are in contract, there are still several full and half floor homes available ranging from 3744 square feet to 6637 square feet asking from $9 million to $25 million.

Rumor has it, first reported by Curbed that actor Matt Damon has purchased one of the penthouse apartments in 535 West End Avenue for around $20 million.

There is still time to own a magnificent new 21st century pre-war home on the Upper West Side.

Manhattan Monthly Market Report: April 2010

Marketwide Summary

Market-wide sales activity continued to gain momentum in April, the strongest month since October 2007. Versus a year ago, condominium sales are up 139% while co-op sales are up 91%. listed inventory increased slightly from March but is 24% lower than April 2009. Average price per square foot reached its highest level since February 2009.

Condominium Market Snapshot

Condominium sales volume increased 10% in April versus march 2010 and 139% from April 2009. Average sale price is 10% higher than March 2010 and 21% higher than April 2009.  Average price per square foot increased 7% from a month ago and 17% from a year ago. Every bedroom category increased in price per square foot except studios. Condominium inventory increased slightly to almost 4,500 units but is 28% lower than April 2009. Days on market is now averaging just under 9 months from list to sale date.

Condominiums: April 2010

• Average Sale Price: $1,692,872

• Median Sale price: $1,187,500

• Average Price per Square Foot: $1259

• Days on Market:  266

• Discount from Ask to Sale: -10.4%

• Listed Inventory: 4,474

• Number of Contracts Signed1: 477

Cooperative Market Snapshot

Co-op sales volume increased 22% versus March 2010 and 91% from April 2009. Averaging sale price increased 6% from a month ago and 16% from a year ago. Average price per square foot increased9% versus last month and April 2009. Co-op inventory increased 5%  from a month ago but is almost 20% lower than April 2009. Days on market is now averaging approximately 5 months, 6% higher than March 2010 but remains even versus a year ago.
  
Co-ops: April 2010

• Average sale price: $947,024

• Median Sale Price: $681,000

• Average Price per Square Foot: $915

• Discount from Last Ask to sale: -4.0%

• Listed Inventory: 4,290

• Number of signed Contracts1 689

Negotiability Factor by Price Point

The negotiability factor from last ask to sale price has gradually decreased over the past year. Sales transacted during April 2010 averaged approximately 6.7% below last asking price, whereas during April 2009, the negotiability factor was approximately 11%.

Manhattan Absorption vs. New / Total Listings

Manhattan listed inventory increased 5% from March 2010 and now totals just over 9,500 units. Available inventory is 23% below its peak during March 2009. The number of new listings coming to market increased 71% from last month. Absorption increased 88% from March 2010 and 111% from April 2009.

Notes: 
Statistics are based on Corcoran Group's monthly signed contract data, with the exception of "Number of Contracts Signed"' 
1 Number of reported signed contracts in Manhattan by all firms

New Development: The Dillon - 425 West 53rd Street

Townhouses and Condominiums

Sales are underway at The Dillon, a sophisticated mix of residences that defy the cookie-cutter mold.

Smith-Miller + Hawkinson Architects’ AIA award-winning design integrates Flats, Duplexes, Penthouse Duplexes and nine triplex Townhouses within a dynamically-folded glass façade.

The 83 homes have been woven together in 54 unexpected ways—each floorplan reflecting innovation in design and optimizing the flow of light, air and living space.

Walls are angled to draw the eye out and through. The building’s rippled exterior allows for views westward, towards the river, and to the iconic eastern cityscape.

Designed to suit the needs of diverse city lifestyles, amenities at The Dillon include a 24-hour attended lobby and a serene, landscaped garden terrace accessible via the residents’ lounge. Ideal for entertaining, the lounge is equipped with a service bar and a private dining room with catering kitchen. And a state-of-the-art fitness center with windows overlooking the garden terrace is adjacent to the children’s playroom.

And enjoy the convenience and culture of The West Side Arts District, a dynamic neighborhood retaining the spirit of old New York - its vitality, its diversity - and thriving with the pulse and the vibrancy of the new. Live within walking distance of Midtown’s business center, Central Park and Hudson River Park, Times Square, Lincoln Center, Time Warner Center, MoMa and other myriad cultural and dining venues.

Current available units range in price from $740,000 for a 665 square foot 1 bedroom 1.5 bath home to $3,250,000 for a 2,274 square foot 5 bedroom 4 bath bedroom home.

Click here to receive listings via email at The Dillon or any Manhattan New Developments.

New Enhancements to Corcoran's iPhone App

Corcoran's iPhone Billboard on the West Side Highway 

New iPhone Features Going Live Today!

• Interactive Floorplans: Zoom in, out and pan around floorplans for Corcoran's New York properties, all on your iPhone. This is a feature our users have been asking us for since launch, and that will prove to be very popular.

•  Push Notifications: Get details of open houses sent directly to your iPhone that match your own, personal search criteria,     based on neighborhood, price and much more. This brings up to date home searches directly into the user’s hands, makes searching more efficient, and lets users customize the search in a way that fits their individual needs     

• Sharing: Now you can send listings to your friends via e-mail or text message, directly from the app itself.

Download iPhone App for FREE here

Where's The Stock and Lease?

By: Ronald H. Gitter, Esq.

A Very Important Closing Item...

When you are selling your co-op and have an outstanding bank loan, the bank must be contacted in advance of closing to provide a pay-off statement and to arrange for the stock and lease to be brought to the closing.

With many banks, the process of requesting the stock and lease from the bank’s back office (that is, some missile silo in Iowa where they keep these things) can take several weeks.

Your co-op sale can't take place without the existing stock and lease. Oftentimes, the bank can't find these documents and they will give your managing agent a "lost stock and lease affidavit and indemnity" so that the managing agent will issue a new certificate and lease to your purchaser.

Even if the bank knows it can't find the stock and lease (some banks are notorious for losing those documents), they will make a best efforts search to find it. The pay-off bank has to be given at least thirty days notice of the closing or you will have a problem having the stock and lease present when you close.

If no bank is involved and you have the stock and lease in your possession (at least you think you know where you put them ten years ago when you bought the place), make sure you can locate those documents and bring them to the closing.

Managing agents may not accept a lost stock and lease affidavit and indemnity from a seller if the seller first raises the issue at closing. Remember, your inability to find the stock and lease must be brought to the attention of the managing agent as soon as possible.

For more on getting ready for the closing and avoiding mistakes that can delay a closing see “Houston, We’ve Got a Problem”.

About the Author:

Ron Gitter, Esq. has been practicing law in Manhattan for over 30 years, focusing primarily on real estate, business and commercial matters. A member of the New York State Bar Association and a member of the related Committee on Condominiums and Cooperatives, for many years, Ron published the Co-op and Condo Survival Guide, an online magazine. CoopandCondo.com is its successor. 

Contact Ronald H. Gitter Esq. at (212) 826-2405, ron@gitterlaw.com
CoopandCondo.com

Barbara Corcoran Prices Upper West Side Home

How Much is Your Upper West Side Home Worth?

New Development: Griffin Court - 800 10th Avenue

Sales are underway at Griffin Court, a 95 unit luxury condo at 800 10th Avenue between West 53rd and West 54th Street in Clinton.

The Alchemy Properties development includes two eight story towers connected by a lobby.

Full service building amenities include a courtyard, garden, fitness room, private storage and high-speed internet access.

Prices range from $735,000 for a 681 square foot studio to $3.86M for a 1911 square foor 3 bedroom 3.5 bath penthouse.

The first 15 to buy in the building will have their mansion tax, as well as city and state transfer taxes paid for by the developer.

Griffin Court Available listings

Pomander Walk: An Upper West Side Secret

One of the Upper West Side's best-kept secrets is a tiny Tudor village tucked between Broadway and West End Avenue. Pomander Walk was built in 1921 to resemble the London set of a hit play of that era called Pomander Walk.

The Pomander Walk enclave of European-styled townhouses runs a full block on the Upper West Side. The townhomes align a narrow block which stretches from 94th to 95th Street between West End Avenue and Broadway. There are 27 Tudor-styled townhomes, with 63 co-operative apartments behind the exclusive gated enclave.

An urban oasis with English gardens, Pomander Walk has attracted famous residents like Humphrey Bogart, Rosalind Russel, and Lilian Gish. In 1986 Woody Allen exposed this enchanting Manhattan hideaway in Hannah and Her Sisters.

Currently there are no available co-op apartments for sale. The most recent sale last year was a 1500 square foot home that sold for $1.5M. Apartments range from 1 bedroom to 3 bedroom + townhouse cottages.

Why New York May be Headed for a Real Estate Shortage

By G. Brian Davis

There are plenty of discouraged homeowners and real estate professionals in America these days, after a painful few years for real estate markets everywhere. But despite high foreclosure rates, large numbers of vacant homes nationwide, and the only slowly warming economy, there are plenty of reasons for hope, and some economists are even forecasting a real estate shortage to arise within the next few years.

Taken as a raw number, the 14.2 million vacant homes in America seems a daunting figure to overcome. How could we possibly experience a housing shortage, with 14.2 million vacant homes?

The answer is beguilingly simple: the vacant homes aren’t necessarily where the demand will be.

Consider that a large percentage of the vacant homes in America sit in rural or fringe suburban areas, or in parts of Ohio and Michigan with permanently decaying economies. Residents are leaving these areas in droves, primarily in search of one thing: employment.

Cities like New York, with diverse economies and fundamentally strong foundations, will experience job recovery and growth first, and with jobs, renewed demand for real estate. In the last few years, as the economy has contracted, the demand for housing has artificially shrunk, while the supply of available housing has artificially expanded, depressing real estate values, but both of these pressures are strongly correlated to employment.

As jobs disappear and salaries are slashed, the total number of independent households decreases, as households consolidate. The scenarios are visible everywhere: recent college graduates deciding to move back in with Mom and Dad for a year or two, young professionals leaving their studios in favor of sharing an apartment with a friend, couples moving in together before they would normally, people with extra space deciding to lease it out in order to generate more monthly income; the bottom line is that more people are living together to save money, and this reduces the total number of households.

The effects caused by foreclosures are now understood by even the most casual observer: local real estate markets become flooded with under-priced inventory, simultaneously driving up supply and driving down market prices.

Further, consider the effect caused by new job creation in one relatively small area, while elsewhere jobs remain scarce. In addition to existing residents re-entering the real estate market, new residents will flood the region, in search of work.

And it doesn’t stop with jobs. A quick look at demographics in this country reveals several telling trends: baby boomers, coupled with Generation Y in their 20’s and early 30’s, make up the overwhelming majority of household heads at the moment, and these groups tend to shift away from outlying areas and gather in cities and suburban centers. The traditional occupants of outlying suburban and rural areas range from their early 30’s up to roughly 50 (Generation X and late boomers), and this is an uncharacteristically small population at the moment, and will remain so for some time. Finally, it’s worth pointing out that immigration remains the fastest vector for population growth, and cities like New York are hotbeds of immigration activity.

In short, New York City real estate has nowhere to go but up. Sure, it may not happen tomorrow, as job creation will likely be slow and steady, and demographic shifts don’t take place overnight, but cities like New York simply can’t sustain housing depressions for long. With little room for increased housing supply, and plenty of causes for increased demand, there’s a good chance that New York, New York may in fact be headed towards a housing shortage in a few short years.

Brian Davis is a real estate investor, landlord, and former private lender, with a particular love for renovating historic and older residences. Currently he manages EZ Landlord Forms, an online resource for landlords and investors that provides a customizable New York lease, New York eviction notices, a summary of New York's landlord-tenant laws, and other tools for real estate investors. E-mail: gbdavis@ezlandlordforms.com.