Envy Apartment

Share This Story Property Deals Prompt Questions About AZ Firm Rodney Ernhart of Bigfork, Montana has had enough. “We’re done. We just want to wash our hands of the whole situation and just walk away. Take our licks. Learn from our mistakes and go on.” As mistakes go, Ernhart’s was an expensive one, costing him roughly $60,000. “It’s my own stupid fault.” In the spring of 2016 at a real estate conference in Las Vegas, Ernhart and his wife were approached about an opportunity in Niagara Falls, New York. The pitch came from a representative of Return On Rentals. The Arizona-based company says on its website that it “( helps) its clients create long -term wealth, using turnkey, residential rental property as the vehicle. We provide rehabbed, rented, professionally managed, cash flowing real estate for investors. ” Available for sale was a four- unit apartment building in Niagara Falls. Price tag was $100,250.  Ernhart was being asked to purchase, on the spot, without ever seeing the p...

“I think buyers will appreciate it,” said Mr. Korolik, who explained that the original development site , which he purchased in 2014, consisted of just three lots, meaning that he could have built a 35-story tower, at best. Air rights can be sold by a building that has not been constructed to its maximum allowable height . Those rights can be shifted around and sold, though mostly between buildings that are side by side. Photo A model of the new 130-unit condo. Credit Katherine Marks for The New York Times Mr. Korolik added, “But developers are like teachers and parents. We do a whole lot of work, but sometimes we are underappreciated.” Of course, not everybody will be able to live in the upper stories of the spire, which is designed by Rafael Viñoly Architects, a firm whose portfolio includes skyscrapers like 432 Park Avenue. But in an unusual move, every apartment is a corner unit with two exposures, which developers say will especially help residents of lower floors enjoy their f...

The York County Board of Supervisors approved rezoning and a special use permit for three parcels near the intersection of Victory Boulevard and Route 17 to allow construction of a senior living facility . The vote at Tuesday’s meeting was 4-1 in favor, with board Chairwoman Sheila Noll voting against rezoning. Noll said she supported the project’s purpose, design and economic impact, but could not support its location, given the area’s traffic. The 9.2 acres of land was rezoned from high density residential to general business. The developer, Georgia- based Landbridge Acquisitions , is planning 170 age- restricted living units , including independent living , assisted living and memory care units . The facility is to be called the Phoenix at Yorktown. More than half of the housing units will be independent living apartments . Principal planner Tim Cross called the facility a continued care retirement community , meaning residents could move from one housing type to another depend...

One day in August, 2016, the financier Carl Icahn made an urgent phone call to the Environmental Protection Agency . Icahn is one of the richest men on Wall Street, and he has thrived, in no small measure, because of a capacity to intimidate. A Texas- based oil refiner in which he had a major stake was losing money because of an obscure environmental rule that Icahn regarded as unduly onerous. Icahn is a voluble critic of any government regulation that constrains his companies. So he wanted to speak with the person in charge of enforcing the policy: a senior official at the E.P.A. named Janet McCabe . Icahn works from a suite of offices, atop the General Motors Building , in midtown, that are decorated in the oak-and-leather fashion of a tycoon’s lair in a nineteen-eighties film. During that decade, Icahn made his reputation as one of the original corporate raiders , pioneering the art of the hostile takeover and establishing himself as a human juggernaut—a pugnacious deal machine ...