Source: Condo Blog

Only In New York: A Condo Board Sues Subway Sandwiches For Having Annoyingly Fresh-Baked Bread UES board files a $500K lawsuit against a Subway franchise for polluting the neighborhood with the “nauseating” smell of fresh bread.

A condominium board on the Upper East Side is asking a judge to stop a newly opened Subway restaurant from baking fresh bread, claiming the building is being “inundated with strong and nauseating food odors,” causing property values to plummet.The owner of the franchise, Tae Hyun Shin, 47, said yesterday that he has tried to accommodate his neighbors, offering to reimburse them to dry-clean clothes they say smell as well as installing a $3,500 ventilation system that he says pushes the baking fragrance onto Second Avenue.

The campaign is being spearheaded by a couple who live on the third floor. They allege in a lawsuit filed Friday in Manhattan Supreme Court that the lobby, basement, and stairs of the Waterford Condominium at 300 E. 93rd St. suddenly began smelling almost two weeks ago, after the restaurant opened. Continued…

Source: NYSun by way of Condo Blog

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The Setai in Miami is a 40-story ultra-luxury, high rise condominium tower. The residences feature a multi level-lobby, 163 units with panoramic views of the ocean, South Beach and the Miami skyline from floor-to-ceiling windows, and all of the finest amenities. The Setai offers one, two, three, and four bedroom units, two-story Townhouses, and spectacular Penthouse Villas.

NOW coming to NYC:

Marketing has started for The Setai New York, located at 40 Broad Street in the Financial District. Prices range from 475 to 3,424 square feet and are priced from $645,000 to $6.75 million. Hopefully completed by the summer of 2007.

The Setai, New York will host a list full of ultra luxury and ultra posh amenities’. For example...day spas for tenants, a rooftop lounge, with floor-to-ceiling glass windows and a log-burning fireplace. 15ft glass doors will open out to city views. The rooftop will be equipped with bamboo landscaping, water features, gas grills and cabanas with daybeds.

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Looks like the only bubble popped in Boston may be on the local newspapers face.

Our pals over at Otis & Ahearn, Inc here in Boston supplied us with the YE data for 2006 (properly organized & broken down). This report is not only going to EMBARRASS THE PRESS (as it should), but it will show you the reality of the 2006 Boston Real Estate market … no bubble here. One personal comment I have to add is that there needs to be a better way to get this information to the public. For an entire year, we listened to reporters & writers from local and national news publications bash the real estate industry (which in some cases they have the right too), but to point fingers at individual markets like Boston and be COMPLETELY wrong is a problem. Its bad news, its bad advice and most of the American public still relies on what the press say. Maybe its time for the Blog-o-sphere to take over and let niche experts tell the stories!

Download the Boston Condo Report Here

(PDF Download) (Source: O&A by way of LINK & MLSPIN)

…and by the way, these things are so hard to come by. If any of you out there have a YE report (a good one!) and you want to post it…send it over and we will keep it on file for the public so everyone can read that our urban markets ARE NOT following general real estate “bubble noise” and that urban demographics for the most part are headed in the opposite direction … UP UP AND UP.

source: Condo Blog

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