Wednesday, November 23, 2011

The cash and carry house

Last week's New York Times had a very interesting article under the Home section. 
In recent years, cash-strapped Americans are buying land and then bringing in inexpensive or even free houses that would have otherwise been torn down. Many of these houses come from used-house lots, where one can choose from a wide range of styles. 
Warren Davie, the owner of Davie Shoring, a structural mover with a used-house lot outside of New Orleans, said his business increased 50 percent since 2008. Mr. Davie said most buyers are "hard-working people who don't want to go into debt to own a home and are willing to put a little sweat equity into the project".
Depending on a home's size, its condition and how far it has to be moved, the cost can range from $15,000 to $60,000. That's about 40 to 60 percent of what it would cost to build the same structure from scratch. 
Moving a house is, in theory, relatively simple. If it is on a pier-and-beam foundation, structural movers slide steel beams under the ground floor to lift it; if the house is on a concrete slab, the mover uses jackhammer to create tunnels where support beams can be inserted. Then the house is raised on jacks, dollies are maneuvered beneath it, and the beams supporting the house are lowered onto the dollies, which have an integrated hydraulic suspension system that adjusts to the road, so that no part of the house is unduly stressed on the way. 
Once the building arrives at its new location, it is lowered into place, using jacks, and allowed to settle into its new neighborhood. All of which is exciting to watch, for homeowner and mover alike!

Source: New York Times, November 17, 2011

Thursday, November 10, 2011

Miami Condos

ICON
In the article “Miami Condos on Upswing,” The Wall Street Journal reported Tuesday that the Miami condo glut is coming to an end. The article points to a 539-unit bulk deal at Midtown Miami which recently sold for $110M, or $183 per square foot. This has marked an important milestone in the city's housing recovery.  
The article also states that Icon Brickell, with 1,796 total units, now has fewer than 20 units remaining as of October and is expected to sell out in November. 

Paramount Bay
The Downtown condominium project Paramount Bay is also mentioned. The condo launched sales around mid-October. Around 70 units are either closed or under contract and only 4 of the 11 penthouses remain. Paramount Bay is designed to be a mix of refined city apartment and casual beach house décor, with Lenny Kravitz’s New York-based firm, Kravitz Design Inc., to create the artistic vision for the property. Marquis Residence, a 292-unit luxury condo development located in Downtown Miami which was not mentioned in The Wall Street Journal article, is now over 75% sold.
Needless to say, it very well seems that 2011 will represent the year that the Miami condo glut came to an end. The next couple of years will be filled with new projects, such as the Resorts World Miami, the Citi Centre, and many more. Today is a pivotal moment in Miami's history, a time where the city's image and realty are being fully reshaped. 



Icon Spa
       Paramount Bay view

Thursday, November 3, 2011

The High Line

We just came back from a quick weekend in NYC, so, of course, this week's post will talk about the greatest city in the world and one of its latest stunning projects.
The High Line is a public park built on a 1.45-mile-long (2.3 km) elevated rail structure running from Gansevoort Street to West 34th Street on Manhattan’s West Side. Previously, the High Line was a freight rail line, in operation from 1934 to 1980. It carried meat to the meatpacking district, agricultural goods to the factories and warehouses of the industrial West Side, and mail to the Post Office.
The area has been taken over by the NYC Department of Parks & Recreation where a non-profit organization ‘Friends of the High Line’ builds and maintains this incredible public space. 
On June 8 2011, Section 2 of the High Line opened to rave reviews and acclaim. As covered in the New York Times, Mayor Michael Bloomberg claimed that shortly before the opening of Section 2 the High Line had already generated $2 billion in private investment in and around the Meatpacking District of New York–nearly eight times the High Line’s original revenue-generation estimates.The mayor pointed to the deluxe apartment buildings whose glass walls press up against the High Line and the hundreds of art galleries, restaurants and boutiques it overlooks. All of that commerce makes up for the $115 million the city has spent on the park and the deals it has made to encourage developers to build along the High Line without blocking out the sun, Mr. Bloomberg said. On top of the 8,000 construction jobs those projects required, the redevelopment has added about 12,000 jobs in the area, the mayor said.


The High Line has become one of the most popular destinations of the city. Tourists and New Yorkers can take in city views, while strolling amid gardens dotted with prairie grasses, wildflowers, and the remains of the rusted tracks—a perfect union of old and new, urban decay and natural beauty.