Wednesday Links
Metal Skin, Bond Street. Photo by Alexis Robie Moving Hamilton’s Home [NY Times] Explosion May Have Increased Property Value [NY Post] Rain Delay for East River Park [Curbed] Shaker Peg Trim [Apartment Therapy] Are ‘Liars’ Loans’ Bad for Country? [Hot Property] National Foreclosures Up 72% [Haute Blog]
Metal Skin, Bond Street. Photo by Alexis Robie
Moving Hamilton’s Home [NY Times]
Explosion May Have Increased Property Value [NY Post]
Rain Delay for East River Park [Curbed]
Shaker Peg Trim [Apartment Therapy]
Are ‘Liars’ Loans’ Bad for Country? [Hot Property]
National Foreclosures Up 72% [Haute Blog]
“Intersubjective utility comparisons.”
Say what?
Wait a sec, having just seen “An Inconvenient Truth,” maybe I do get it. I think iceberg’s position can be summed up as, “Mmmmm…. gold bars…. yum.”
Iceberg,
No matter how many times I repeat after you, I, and perhaps others, have gleaned “an” impression from the data, not the “wrong” impression from the data. I would argue that price movements are not the only indication of a world being “richer or poorer” and that, rather, having an historically appropriate neighborhood also makes the world a richer place irrespective of what your econ textbook tells you.
I don’t see ‘wealth destruction’. I see house purchased in 1980 for a few hundred thousand worth many millions – and all that creation of wealth is the catalyst for messy bitter divorce.
And article speculated prop was worth about same with or without house and part of that reason is that interior of house was nothing great.
Iceberg,
You are comparing apples to oranges.
Fieldston, from memory, is an entire district in the Bronx. Landmarking of that district should indeed increase property values over time, as the various graphs that Brownstoner has posted in the past indicate.
Dr. Bartha, on the other hand, destroyed one townhouse in one historic district. Fine, he can rebuild and generate wealth, but that is inapposite as to whether to designate a district as historic from the outset.
And, assuming the graphs mentioned above are valid, one could argue that the increase in value associated with Dr. Bartha’s ability to rebuild (which, by the way, assumes compliance with the landmark facade rules) stems, at least partly in fact, from his property’s location in the UES historic district.
Well, depends on what the other zoning rules are and the context. This one property will be worth more if someone can put up a sliver tower, sure, but if every beautiful old building in the area was demo’d and replaced with ugly tall buildings, the area would become less desirable and valuable, certainly on a per square foot basis.