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Tag: condominiums

  • Zone change advances $220M Kings Park condo plan | Long Island Business News

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    THE BLUEPRINT:

    • Town Board unanimously approved a zoning change for the project

    • Beechwood’s $220M development includes 288 condos on a 71-acre site

    • Community will feature single-family homes, townhomes and villas

    • Project includes 29 affordable units and extensive resort-style amenities

     

    One of the largest multifamily housing developments in the history of cleared a big hurdle Thursday when the Smithtown Town Board unanimously approved a zoning change for ‘s proposed 288-home condominium project. 

    The $220 million project, called at Kings Park, will bring a mix of 53 single-family homes, 153 townhomes and 82 villas to a 71-acre site near the northwest corner of Old Northport Road and Lawrence Road. 

    Rendering of the clubhouse at the planned Kings Park condo community. / Courtesy of Beechwood Organization

    The property, currently a poultry farm and woods, which had been zoned for single-family homes on half-acre lots and some light industry, was rezoned as a Planned Residential Development. 

    “We could have had on this property probably 140 to 150 three-to-five-bedroom McMansions or an -type warehouse,” Smithtown Councilman Thomas McCarthy said at the meeting. “But what we’re getting is all two-bedroom units which will help the elderly and will help the younger people of Kings Park and I think it’s a phenomenal application.” 

    Smithtown Supervisor Ed Wehrheim said he agreed with McCarthy’s assessment. 

    “I think it’s a development that will be good for the Kings Park community,” he said. 

    The condos are expected to be priced from the low $700,000s to $1 million, depending on the model and location. There will be 29 homes designated as affordable and offered at reduced prices. 

    Amenities will include a 12,000-square-foot staffed clubhouse, two heated pools, two pickleball courts, a fitness center, a yoga studio, a sports lounge, bocce courts and a putting green. 

    The next step for the project will be site-plan approval, which Beechwood principal Michael Dubb said he hopes to have some time next year.  

    “What is special about this community is that most condominium developments are six units to the acre and up, including most of the condominium developments I’ve done recently,” Dubb told LIBN. “This is four units to the acre. So there is a tremendous amount of open space that we were able to save in this community.” 

    Once approvals are received, Dubb said the Kings Park development would take about three years to complete. 

    “These communities create such a great sense of camaraderie while offering a maintenance-free alternative for people to stay here on Long Island, stay close to their roots and their grandchildren,” Dubb said. “This community will also give young people the opportunity to set up roots in a community that they might desire to raise their children in one day, whether they’re just starting a family or planning a family.” 


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    David Winzelberg

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  • For Their Retirement Home, a South Florida Couple Tried to Upsize Rather Than Downsize

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    Homebuyers in their 50s and 60s typically downsize as they become empty nesters and ease into retirement, especially in Florida. But not Mitchell Rechter and Emily Weiss.

    They met two years ago on a blind date. Both had moved to South Florida about a decade before — Ms. Weiss, 58, from southern New Jersey, and Mr. Rechter, 66, from the Detroit area — and subsequently divorced.

    Their relationship blossomed quickly. Three months after they met, Ms. Weiss’s lease ended and she moved into Mr. Rechter’s two-bedroom townhouse, which he had bought the year before. It was in Boca West, a sprawling gated community in Boca Raton, Fla., about an hour’s drive north of Miami, with about 3,500 homes built around a golf course and country club.

    [Did you recently buy a home? We want to hear from you. Email: thehunt@nytimes.com. Sign up here to have The Hunt delivered to your inbox every week.]

    “I wanted to see whether I liked Boca West, and then I would look for my own place,” Ms. Weiss said. “But very quickly, I knew I wanted to live with Mitch and he knew he wanted to live with me.”

    Mr. Rechter’s 1,460-square-foot house was “a hangout where everybody comes,” he said. The couple hosted friends to watch their favorite football teams (Philadelphia Eagles for her, Detroit Lions for him). Ms. Weiss’s adult son would visit often, as would Mr. Rechter’s grown nieces and nephews, and their children.

    With all the activity, “it felt a little tight,” he said. “I just felt it was time to upgrade.”

    Ms. Weiss needed some convincing. “Usually, people at this age are downsizing,” she said. “But Mitch talked about how our families are actually going to be growing. And we wanted people to stay with us, so it made sense.”

    The couple linked up with Hailey Desser, a broker with eXp Realty, and committed to their search over the summer, when many seasonal residents in Boca Raton return north. “It was the time to strike because there’s less competition,” Ms. Desser said.

    The goal was to stay in Boca West, where they had cultivated a lively social life. “All parts of my life are ending up here,” Ms. Weiss said. “I’m seeing people from my hometown, people that I met in college.”

    The 1,400-acre community comprises various subdivisions that were developed with different home styles, effectively creating distinct neighborhoods. They aimed for a three-bedroom house with about 2,000 square feet and an airy, open layout. Mr. Rechter was keen on getting a two-car garage.

    While they were open to doing a joint renovation, Mr. Rechter would buy the property on his own, setting a budget of around $800,000.

    Find out what happened next by answering these two questions:

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    Julia Echikson

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  • On the Upper East Side, Was $800,000 Enough for a Dog-Friendly Two-Bedroom?

    On the Upper East Side, Was $800,000 Enough for a Dog-Friendly Two-Bedroom?

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    A job transfer of sorts brought Katie Muela and Arsy Khodabandelou to New York from Maryland a few years ago.

    Ms. Muela was working as a nanny for a family that was relocating to the city from the Washington, D.C., area, so she and Mr. Khodabandelou took it “as an opportunity to move to New York for fun,” she said.

    That was just before Covid shut down the city. Disappointed, the couple retreated to Maryland after a year. But after the pandemic, they were eager to return, and landed in a one-bedroom on the Upper East Side for around $2,600 a month.

    [Did you recently buy a home? We want to hear from you. Email: thehunt@nytimes.com]

    They fell in love with their bustling Yorkville neighborhood. “We got to know our neighbors and see them at the dog park every day,” said Ms. Muela, 33.

    One day, the two went hiking at Bear Mountain, about an hour and a half north. Mr. Khodabandelou, who works in software sales, found himself worrying about their dogs, who were home alone. Friends and family were back in Maryland. It gave him the idea to hire a software engineer and create a pet-rescue app, Woof, which notifies emergency contacts if pets are left alone longer than expected.

    The nascent business landed Mr. Khodabandelou, 35, on the TV show “Shark Tank” in 2023, though it didn’t land him a deal. Nevertheless, he said, “It was the coolest experience of my life.”

    Meanwhile, the couple, who will marry next month, were outgrowing their small apartment. In the basement laundry room, the machines were often broken. And they had little counter space, making it difficult to cook and host guests.

    “We didn’t have anywhere to sit,” said Ms. Muela, who now works as a court reporter. “We ate on our couch. Why, at this age and stage of us wanting to start our future, would we not purchase?”

    Some of Mr. Khodabandelou’s old friends were having children and buying houses. “So it was in the back of my mind,” he said. “Do I want to be in New York or go back to Maryland and buy a house?”

    The couple decided to stick around and get an apartment — dog-friendly, of course — near their rental, on the far Upper East Side. They aimed for a two-bedroom or a large one-bedroom, and quickly realized that they’d have to adjust their budget.

    “We thought $500,000 was our max, but we couldn’t get anything for $500,000,” Mr. Khodabandelou said. “We kept raising our price.” It ended up at $800,000.

    Online last winter, they found Annette Mulligan, then a licensed salesperson at Keller Williams NYC and now at the Corcoran Group, who explained the difference between co-ops and condominiums and noted that dog policies differ among buildings.

    “I am not a picky person,” Mr. Khodabandelou said. “I fell in love with every single place that we saw.” But those places often sold quickly.

    Ms. Muela was more particular. “I definitely was a brat at first,” she said. “I wanted two bedrooms, a washer-dryer and outdoor space.”

    As time passed, she lowered her expectations. Among their options:

    Find out what happened next by answering these two questions:

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    Joyce Cohen

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  • New York’s Best New Building Is The Last New Building In Brooklyn Heights

    New York’s Best New Building Is The Last New Building In Brooklyn Heights

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    Quay Tower is a magnificent new residential building situated directly on the Brooklyn waterfront and rising thirty stories. Its position directly across the water from the southern tip of Manhattan makes for spectacular harbor and city views. Together with the building’s amenities, they create a hotly-desired living experience. Everyone wants gorgeous sunset views, waterfront locations, walking-friendly neighborhoods, park and recreational spaces and a place to store bicycles, play music or to socialize with the neighbors. That mixture of location and ease of living can be at its best in New York City, but it is not easy to find.

    It is also increasingly rare. In fact, Quay Tower, located at 50 Brooklyn Bridge Park Drive, on the Brooklyn Bridge Park waterfront, is the last new building it is possible to construct in Brooklyn Heights.

    For the past 15 years, New York City has made waterfront development a priority, seeking to develop former industrial waterfront land that is no longer used to service the shipbuilding and marine companies that once thrived in Brooklyn and Manhattan.

    “The 95 acres that we built Quay Tower on was all Port Authority piers,” says Robert Levine, the chairman of RAL Companies, developer of the building. “Those piers were active until 25 years ago. We started this project around 2005 or 6; we knew it could be a spectacular place to call home.”

    Seen from Quay Tower, the piers are a strong reminder of the area’s history. One is home to a collection of soccer fields, another has garden plantings and paths. Between them is a marina. All are managed by the Brooklyn Bridge Park Conservancy.

    “They said, before we began, that they would manage the facilities if they were self-funded,” Levine says. “We developed them as part of building the tower and then turned them over to the Brooklyn Bridge Park Conservancy for perpetual use.”

    RAL Companies, founded in 1979, started as an architecture and design firm.

    “We segued into land development and have done everything in high-end hospitality and rental construction in the United States and the Caribbean,” Levine explains in a personal interview.

    This history enabled Levine and his company to go through the grueling rounds of approvals required from zoning boards and the New York City Department of Parks & Recreation, which has played an increasingly large role in dictating how new construction sites connect with public land. Levine and RAL Companies considered resiliency during flooding and setbacks from the waterfront, ever more important as the climate becomes more threatening and unpredictable.

    “For anyone developing real estate in New York, Hurricane Sandy was a major wake-up call,” Levine says.

    The pre-building process was arduous: careful negotiations regarding land use, connection to the park, enhancing the park, retail tenants, land leases, and more, took years.

    Considering the hurdles, RAL Companies and Oliver’s Realty Group’s success in developing a record-setting building is extraordinary. In 2022, a year when macro headwinds put massive downward pressure on the luxury market, Quay Tower sold $98 million of inventory; six deals were entirely cash transfers. Only a handful of units remain available.

    It’s easy to predict that they won’t stay on the market for long.

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    Regina Cole, Contributor

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  • IMS Barter Announces Infrastructure Investment

    IMS Barter Announces Infrastructure Investment

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    Press Release
    –


    updated: May 7, 2021


    NEW BERLIN, Wis., May 7, 2021 (Newswire.com)
    –
    International Monetary Systems, Ltd. announced its second major website upgrade in the last six months to better serve its client base. This investment in infrastructure for IMS clients shows its commitment to continue to be the worldwide leader in business-to-business barter services.

    The website upgrade, launched at the end of April 2021, focuses on the travel industry to help bolster sales across this pandemic-devastated sector of business. Gathering inspiration from other major travel websites such as Airbnb, TripAdvisor, Kayak, and others, the developers at IMS created carefully curated collections of travel properties available throughout the expansive, international IMS network.

    These collections feature properties such as all-inclusive resorts, vacation homes, hunting and fishing lodges, bed & breakfasts, cabins, condominiums, hotels, plus much more, and allow IMS travelers to quickly select and book their stays in the type of accommodation they desire. In addition, the website will suggest nearby activities and restaurants offered through the IMS network to the shopper to improve their overall travel experience.

    “We are looking at innovative ways to enhance the everyday client buying experience and, at the same time, increase the seller’s occupancy levels and market share. This website upgrade accomplishes both,” says CEO John Strabley.

    Recent website updates focused on expanding the IMS virtual marketplace platform where IMS clients list and sell products online. These upgraded features added a shopping experience more like Amazon or Etsy and the update saw an increase in web traffic for IMS by over 500%.

    Founded in 1985, International Monetary Systems (IMS) serves 23,000 cardholders in 52 North American markets. Based in New Berlin, Wisconsin, IMS is the largest barter company in the world. The IMS network allows companies to create cost savings and connect to new customers by incorporating barter opportunities in their business models. Further information can be obtained at the company’s website at www.IMSBarter.com.

    Company Contact:
    John Strabley – CEO
    (800) 559-8515

    Source: International Monetary Systems, Ltd.

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  • IMS Barter Continues to Invest in Infrastructure

    IMS Barter Continues to Invest in Infrastructure

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    Press Release
    –


    updated: May 4, 2021


    NEW BERLIN, Wis., May 4, 2021 (Newswire.com)
    –
    International Monetary Systems, Ltd. announced its second major website upgrade in the last six months to better serve its client base. This investment in infrastructure for IMS clients shows its commitment to continue to be the worldwide leader in business-to-business barter services.

    The website upgrade, launched at the end of April 2021, focuses on the travel industry to help bolster sales across this pandemic-devastated sector of business. Gathering inspiration from other major travel websites such as Airbnb, TripAdvisor, Kayak, and others, the developers at IMS created carefully curated collections of travel properties available throughout the expansive, international IMS network.

    These collections feature properties such as all-inclusive resorts, vacation homes, hunting and fishing lodges, bed & breakfasts, cabins, condominiums, hotels, plus much more, and allow IMS travelers to quickly select and book their stays in the type of accommodation they desire. In addition, the website will suggest nearby activities and restaurants offered through the IMS network to the shopper to improve their overall travel experience.

    “We are looking at innovative ways to enhance the everyday client buying experience and, at the same time, increase the seller’s occupancy levels and market share. This website upgrade accomplishes both,” says CEO John Strabley.

    Recent website updates focused on expanding the IMS virtual marketplace platform where IMS clients list and sell products online. These upgraded features added a shopping experience more like Amazon or Etsy and the update saw an increase in web traffic for IMS by over 500%.

    Founded in 1985, International Monetary Systems (IMS) serves 23,000 cardholders in 52 North American markets. Based in New Berlin, Wisconsin, IMS is the largest barter company in the world. The IMS network allows companies to create cost savings and connect to new customers by incorporating barter opportunities in their business models. Further information can be obtained at the company’s website at www.IMSBarter.com.

    Company Contact:
    John Strabley – CEO
    (800) 559-8515

    Source: International Monetary Systems, Ltd.

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