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Apache is functioning normally

June 2, 2023 by Brett Tams

New York is home to the incredibly adorable Gingerbread House, California flaunts its unique Flinstone’s House, so it was only natural to have Washington join the race for the country’s most unique, straight-out-of-a-cartoon home.

The contender: a charming fairytale cottage in Ocalla that looks like it’s ready to welcome its new Snow White (and however many dwarves she’d like to bring along.)

The storybook home, built in 1982, has 4 bedrooms, 4.5 baths, and encompasses approximately 2,800 square feet. Asking price: $925,000.

Among the quirks of this adorable Snow White cottage: there are no square corners in the house, the hand-built doors all boast extensive iron work throughout, and the walls appear to more like a magical cave. You even get a storybook tree house to keep your little dwarves entertained.

snow-white-cottage-washington-path-to-house
Image credit: John L. Scott Real Estate
snow-white-cottage-washington-ocalla
Image credit: John L. Scott Real Estate
snow-white-cottage-ocalla-washington
Image credit: John L. Scott Real Estate

If moving to your own fairytale home is what you seek, make sure you check out the full details of the Snow White cottage home and get in touch with Rick Ellis, the listing agent with John L. Scott Real Estate.

But if you happen to be around $1 million short of that dream, here’s your chance to step inside one of the most unique storybook homes out there:

snow-white-cottage-washington-entrance
Image credit: John L. Scott Real Estate
snow-white-cottage-washington-kitchen
Image credit: John L. Scott Real Estate
snow-white-cottage-washington-living-room
Image credit: John L. Scott Real Estate
snow-white-cottage-washington-bedroom
Image credit: John L. Scott Real Estate

More quirky homes:

Brooklyn’s Century-Old Gingerbread House is NYC’s Most Adorable Home
The Oldest Ellis Island Ferry Makes One Hell of a Party Home
UFO-Shaped Palm Springs Home (Once Owned by Bob Hope) Finally Finds a Buyer
Is Mark Bell Prepping his Gorgeous Star Trek Home for Sale?

Source: fancypantshomes.com

Tagged: 2, agent, All, asking price, Bedrooms, brooklyn, Built, california, chance, country, Credit, doors, dream, estate, Financial Wize, FinancialWize, home, homes, house, in, Live, Make, More, Moving, natural, new, new york, nyc, oldest, palm springs, party, price, Quirky homes, race, ready, Real Estate, sale, short, snow, springs, square, storybook homes, straight out of a cartoon, unique, unusual home, washington, white, work

Apache is functioning normally

June 1, 2023 by Brett Tams

Nestled on a private 20,000-square-foot lot in Brooklyn’s now trendy Bay Ridge, the insanely adorable Gingerbread House is quite possibly the closest thing to a fairy tale come true.

Built back in 1917 — when it immediately grabbed the title of ‘most magnificent residence in New York City‘ — the 5,746-square-foot home at 8220 Narrows Avenue home beautifully retained its unique charm throughout the decades.


The the real-life gingerbread house, built from uncut stone, stays true to the rolling topography of the land with a pitched roof and gabled windows that look like they’ve been taken straight out of The Shire.

A captivating archway leads to a secret oasis of emerald lawns and flowing fountains as well as the home’s private entrance and three-car garage. Spacious rooms and an open layout reveal glittering stained glass windows, intricate woodcarvings, hand-painted ceilings, and whimsical door knockers.


Despite all this, the real-life Gingerbread House has been repeatedly struggling to find a buyer.

First listed in 2009 for $12 million, the unique home quietly went off market only to return in May 2014 with a fresh asking of $10.5M. Despite failing to find a buyer — and even after giving renting a shot — the Gingerbread House is now surprisingly priced at $10,999,000.

But a home like the one at 8220 Narrows Avenue isn’t looking for just any buyer; there’s probably just a handful of Hansels and Gretels in the world with pockets deep enough — and tastes this particular — that can afford to take the house off of the witch’s hands (sorry, owners; nothing personal).

Now let’s skip to the good part and take a closer look at this enchanting storybook home:

real-gingerbread-house
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
real-life-gingerbread-house-in-new-york
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
real-life-gingerbread-house-new-york
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
real-life-gingerbread-house-bedroom
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
8220-narrows-avenue-entrance
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
gingerbread-house-living-room
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
gingerbread-house-kitchen
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
8220-narrows-avenue-brooklyn-new-york
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
real-gingerbread-house-8220-narrows-avenue-new-york
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman
gingerbread-house-in-real-life
The Gingerbread House in Bay Ridge. Image credit: Douglas Elliman

Source: fancypantshomes.com

Tagged: All, brooklyn, Built, buyer, car, ceilings, city, Credit, decades, Douglas Elliman, East Coast, Financial Wize, FinancialWize, garage, Giving, good, home, homes, house, in, Land, layout, Life, market, most beautiful homes in new york, new, new york, new york city, nyc, nyc real estate, Oasis, Personal, Quirky homes, renting, return, reveal, square, straight out of a cartoon, title, unique, unusual home, windows

Apache is functioning normally

June 1, 2023 by Brett Tams

After serving two world wars, taking newly arrived immigrants from Ellis Island to Manhattan, and touring people to see the sights (among other adventures), the 109-year-old MacKenzie-Childs Yankee Ferry is looking to retire as an adorable houseboat.

But retirement might not be all that peaceful and relaxing.

The 4,000-square foot vessel can sleep up to 24 people, comes with tons of space for people to hang out and enjoy views of the city, and is so beautifully decorated that the boat’s new owners would be foolish not to have people over all the time.

Now docked in Red Hook, Brooklyn, the ferry has 5 bedrooms, 1 full bath and one half bath, with separate crew quarters. And it’s on the market for $1.25 million.

Ellis-Island-Ferry-home-dining-seats
Image credit: Franklin Ruttan – Unique Property Specialists
Ellis-Island-Ferry-home-entertainment space
Image credit: Franklin Ruttan – Unique Property Specialists
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Image credit: Franklin Ruttan – Unique Property Specialists
Ellis-Island-Ferry-home-third-bedroom
Image credit: Franklin Ruttan – Unique Property Specialists
Ellis-Island-Ferry-ship-home
Image credit: Franklin Ruttan – Unique Property Specialists

Source: fancypantshomes.com

Tagged: All, Bedrooms, brooklyn, city, colorful interiors, Credit, Financial Wize, FinancialWize, franklin, home, homes, Houseboat, in, Manhattan, market, new, nyc real estate, oldest, Other, party, property, Quirky homes, retirement, sleep, space, square, time, unique, unusual home

Apache is functioning normally

May 31, 2023 by Brett Tams

I’ve been writing about real estate for quite a few years now. I first started out as a real estate journalist back in 2011, then became a copywriter for a real estate data provider, then made the switch to a marketing position for a home search portal. And then another home search portal. And then another (yes, some people just love real estate.)

And throughout the years, there was this one listing I kept coming across. The one listing that made me stop whatever I was doing to just take a couple of minutes and drool over its photos.

That listing was for the DUMBO Clocktower penthouse.

I never quite understood how such an exquisite penthouse could linger on the market for so many years without finding a buyer. How people would splurge on Manhattan pads with no character and ignore this beautiful three-story condo and its jaw-dropping views.

And since it finally found a lucky buyer — the DUMBO Clocktower penthouse sold a couple of weeks ago for $15 million — let’s take a moment and enjoy the photos before diving into the full story of this unique listing.

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Image credit: Corcoran.com
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Image credit: Corcoran.com
dumbo-clocktower-penthouse-interiors
Image credit: Corcoran.com
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Image credit: Corcoran.com
dumbo-clocktower-penthouse-skyline-views
Image credit: Corcoran.com

7 Years and Many Price Adjustments Later…

…the DUMBO Clocktower penthouse got its chance to shine!

The 1 Main Street triplex sold for $15 million — which makes it the most expensive condo sale in Brooklyn, snapping the title from a Brooklyn Bridge Park Pierhouse unit that closed just last month for $10.6 million.

But it’s been a rocky ride for the Brooklyn penthouse with killer Manhattan views (I have to stop and note that the four 14-foot glass clocks offer 360-degree views of everything from the Verrazano Bridge to the Empire State Building).

The DUMBO penthouse first hit the market in August 2009, asking a full $25 million. After failing to attract a sufficiently generous buyer, the listing went off the market, only to return in 2013 with a new broker (and a new asking: $18 million).

The new owner, whose name is masked under an LLC, will now get to enjoy a spacious open floorplan that seems to have been built for entertainment — which makes perfect sense: who wouldn’t want people over to flaunt the four 14-foot glass clocks that open up to unique 360-degree views of everything from the Verrazano Bridge to the Empire State Building.

dumbo-clocktower-penthouse
Image credit: Corcoran.com

More condos-to-die-for:

This $16M NYC Penthouse Has Unobstructed Views of Central Park and the Manhattan SkylineInside the $10M Hell’s Kitchen Penthouse that Trevor Noah Bought
This $10M Penthouse at One Clinton Towers Over Brooklyn, Offers Jaw-Dropping City ViewsSee Inside a $5.7M Coco Chanel-Inspired Condo in the Trendy 40 Bleecker Building in NoHo, Manhattan

Source: fancypantshomes.com

Tagged: About, before, bridge, Broker, brooklyn, building, Built, buyer, chance, city, condo, condos, couple, Credit, data, East Coast, Entertainment, estate, expensive, Eye-candy condos, Financial Wize, FinancialWize, home, home search, homes, in, kitchen, LLC, Main, Manhattan, market, Marketing, million dollar views, More, Most Expensive, new, nyc, nyc real estate, offer, offers, park, penthouse, photos, price, Real Estate, return, sale, search, splurge, story, stunning penthouse, title, trevor noah, under, unique, will

Apache is functioning normally

May 29, 2023 by Brett Tams

Here’s a treat for architecture lovers everywhere: a mid-century masterpiece that bears the signature of architect extraordinaire, Frank Lloyd Wright, is now up for grabs in New Canaan, CT.

Known as Tirranna — a moniker inspired by an Australian Aboriginal word meaning “running waters”, as the home is cantilevered over a pond and overlooks a waterfall on the Noroton River — the property is one of Frank Lloyd Wright’s largest residential properties.

It was also one of the legendary architect’s last projects, built by Wright in 1955, just a few years before his death in 1959.

circular pool and an outdoor patio outside the Tirranna House, with columns supporting the structure
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

But this isn’t just a Frank Lloyd Wright-designed property.

The architect also lived here while building the Guggenheim Museum — and even used some of the scalloped glass windows from the Guggenheim Museum project to complete the home’s south-facing greenhouse.

Now, the sprawling 7,000-square-foot Tirranna house is on the market, listed for $8 million with Marsha Charles and Albert Safdie of Coldwell Banker Realty. 

Inside an $8M Frank Lloyd Wright-designed home

The property, also known as the Rayward-Shepherd House or the John L. Rayward House, sits on 14 acres of protected land in New Canaan, Conn., a Fairfield County town that consistently ranks as one of the wealthiest towns in the country.

creek, stones and a small waterfall surrounding Frank Lloyd Wright's project, the Tirranna House in New Canaan, CT
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

And while location is the name of the game when it comes to luxury real estate, this property has so many things going for it that the great location pales in comparison to some of its most enviable attributes.

Clocking in at a generous 7,000 square feet, the 7-bedroom, 8.5-bath home blends geometric complexity with nature’s flowing curves, in typical Frank Lloyd Wright style.

Throughout the home, the architect combined and contrasted soaring ceilings and open living spaces with cozy and cocoon-like mahogany-paneled bedrooms. 

mid-century interiors with large wood paneling, floor-to-ceiling windows and a wooden piani
Photo credit: Udor Photography courtesy of Coldwell Banker Realty
dining room with two dining sets and large floor-to-ceiling windows, everything made out of warm wood
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

The living room and dining area opens to an expansive circular patio that overlooks the pool and nature reserve beyond.

Related: Frank Lloyd Wright’s Taliesin house and its three (tragic) lives

The home’s functional wood-paneled and stainless-steel kitchen epitomizes the mid-century modern aesthetic, while each of the bathrooms are spa-like and adorned with spectacular wood panels and unique features.

wood-clad kitchen with stove and a small round window
Photo credit: Udor Photography courtesy of Coldwell Banker Realty
mid-century interiors with large skylight illuminating the room
Photo credit: Udor Photography courtesy of Coldwell Banker Realty
wood-paneled bedroom inside Frank Lloyd Wright's Tirranna house, with a bed in the center
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

A 200-foot covered outdoor walkway leads to a greenhouse with caretakers/guest quarters, along with a carport. This is a full one-bedroom house with a lovely kitchen, cozy bedroom, and full bath.

covered walkway clad in wood
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

There are a few other structures and amenities on the property, including a cozy guest studio with a full bath, a tennis court, a large barn, a wine cellar (which is actually a converted bomb shelter), a playhouse, and even a rooftop observatory complete with a telescope.

Public records show that the current owners/sellers bought the property in 2018 for $4,800,000. At the time, Frank Lloyd Wright’s Tirranna house had been listed for the first time in 20 years, and sported a similar price tag of $8 million.

A fusion of nature and architecture

From an architectural standpoint, Tirranna embodies Wright’s classic hemicycle design, seamlessly blending curved lines with rectangular angles, and combining geometric and spatial complexities for optimum functionality.

conservatory room covered with glass, wood and steel
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

Standing as a perfect example of Frank Lloyd Wright’s organic architecture, which strives for a perfect balance between man, nature, and design, Tirranna reflects nature’s flowing curves and incorporates many of the architect’s staple design elements.

That includes low-slung roofs, Philippine mahogany walls, large windows, and Cherokee red concrete floors with radiant heat. It was built of concrete block and glass, trimmed with mahogany.

Related: Frank Lloyd Wright’s Ennis House also known as The Blade Runner House

The current owners have lovingly maintained the original architectural integrity, preserving details like built-in bookshelves, brass hardware, original lighting, cabinetry, and furnishings.

inside Frank Lloyd Wright's Tirranna House, where a warm wood-clad living room has a piano, sofa, chairs and lots of shelves
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

But it’s not just the house that comes with an illustrious name attached to it.

The beautiful grounds of the property were thoughtfully designed by Frank Okamura, the landscape architect known for restoring the Japanese gardens at the Brooklyn Botanical Garden in the late 1940s. The Japanese-born American horticulturist is also known for helping popularize the cultivation of bonsai in America. 

open doors leading out to a patio with stone table and chairs, with landscaping behind it
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

Along with Charles Middeleer, another famous landscape architect of the time, Okamura carefully designed the landscape to ensure privacy, making Tirranna the ideal sanctuary for those seeking a tranquil lifestyle.

round pool filled with water next to a stone and wood structure
Photo credit: Udor Photography courtesy of Coldwell Banker Realty

As the brokerage that holds the listing told us via email, “Tirranna is more than just a home; it’s a mid-century masterpiece that will transport you to another time and place.”

We couldn’t agree more.

More stories you might like

Frank Lloyd Wright’s Taliesin house and its three (tragic) lives
The Chemosphere House and 6 other striking John Lautner-designed homesFrank Lloyd Wright’s Ennis House also known as The Blade Runner House
The Remarkable Sheats-Goldstein Residence in LA: Past, Present and Future

Source: fancypantshomes.com

Tagged: Amenities, architect, architectural wonders, Architecture, balance, Bathrooms, bedroom, Bedrooms, before, bookshelves, brokerage, brooklyn, building, Built, ceilings, Coldwell Banker, Connecticut, country, court, Credit, ct, death, design, dining, East Coast, estate, Features, Financial Wize, FinancialWize, frank lloyd wright, fusion, garden, great, guest, heat, home, homes, house, in, japanese, kitchen, LA, Land, Lifestyle, lighting, Living, living room, low, Luxury, luxury real estate, making, man, market, mid-century modern, modern, More, museum, new, News, or, Organic Architecture, Original, Other, outdoor, patio, photography, place, pool, present, price, project, projects, property, public records, Real Estate, Residential, river, room, running, Sanctuary, sellers, soaring, South, spa, square, steel, stories, Style, tennis court, time, town, unique, will, windows, wood

Apache is functioning normally

May 29, 2023 by Brett Tams

If you’ve ruled out winning the lottery as your chance to become a millionaire, you must have considered real estate investing a viable opportunity.

And if you haven’t, this article will plant the seed.

Real estate data firm PropertyShark took a closer look at how many property owners have made a good profit off of selling their homes since the turn of the century. More specifically, they looked at homes bought before 2001 for less than $1 million, later to be sold by their owner for $1+ million.

They then grouped the data by city, to give us a clear picture of the thriving real estate markets where investing in property can take us one step closer to becoming a millionaire. Here’s how they map out:

real-estate-millionaires-by-city
Image credit: PropertyShark.com

The city to land first place is — unsurprisingly — San Francisco, which minted 381 million real estate millionaires as the market skyrocketed in the past two decades. That puts it ahead of Manhattan, which, despite being double the size of San Francisco, only saw 335 people become millionaires off of selling their properties.

A more unexpected finding was that the Los Angeles market lost the third spot in favor of Brooklyn; the New York borough came in on #3, with 281 people making a good profit off of selling their homes for over $1 million.

Trailing closely behind, “the city of Los Angeles, with a population of more than 3.9 million, made 280 people millionaires since the turn of the century,” Robert Demeter reports for PropertyShark, adding that “L.A. isn’t as expensive as some of the neighboring cities in the county, but being spread out with a large number of residents, it’s no surprise it made it so high on our list. Affluent neighborhoods such as Bel-Air, Venice Beach and Brentwood most certainly paved the way for homeowners to become millionaires after selling their properties.”

Other notable markets where people achieved millionaire status by selling their homes are Potomac, MD (182 millionaires), Bethesda, MD (175 millionaires), San Jose, CA (119 millionaires), Queens, NY (93 millionaires), Scottsdale, AZ (86 millionaires), and Plainfield, IL (78 millionaires).

Out of the top 25 “millionaire cities”, 7 are located in the Silicon Valley area, where the median home price regularly goes over the $1 million mark.

It’s worth noting that the study only looked at the profits made off of selling homes in these markets with a sale price over $1 million.

It doesn’t take into account other financial holdings, investments or net worth of these individuals, who may have already been millionaires before selling their homes.

However, it’s a great indicator of markets that are most likely to mint out millionaires after buying local real estate.

Source: fancypantshomes.com

Tagged: air, az, beach, before, Brentwood, brooklyn, Buying, ca, chance, Cities, city, clear, Credit, data, decades, double, estate, expensive, Financial Wize, FinancialWize, good, great, home, Home Price, homeowners, homes, il, in, Investing, investments, Land, list, Local, LOS, los angeles, los angeles homes, making, Manhattan, market, markets, md, median home price, Millionaire, Mint, More, most expensive homes, neighborhoods, net worth, new, new york, News, ny, nyc real estate, opportunity, or, Other, place, price, property, Real Estate, Real Estate Investing, real estate markets, sale, san francisco, San Jose, selling, Silicon Valley, Venice, will

Apache is functioning normally

May 26, 2023 by Brett Tams

This guest post from Corinne is part of the “reader stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income.

At my previous job, I was paid on a monthly basis. I loved it. I got all my money for the month upfront, so it didn’t matter when I scheduled automatic savings or investment transfers.

When I moved to a job that was on a bi-weekly payroll schedule, I had to make sure the transfers were split across the month so I didn’t inadvertently empty my checking account! I was grumpy about it at first, but I’ve come to discover a wonderful secret about getting paid bi-weekly: If you’re on a biweekly payroll schedule, you’re getting a couple of “bonus” pay checks every year! Yes, that’s right. Bonus checks. Let me explain.

The Bonus of Bi-Weekly Pay

If you’re like me, your budget is constructed around a month’s worth of expenses. Most bills are monthly, rent or mortgage payments are monthly, and I’m betting you plan your grocery spending by how much to spend in a month. Maybe someone budgets by quarter or even by year, but not many people do.

So in any given month, you can expect to bring home two paychecks. Let’s say you take home $1000 with each check. Your budget allocates how to spend $2000 every month.

But wait a minute. Are you paid bi-weekly? If you look at a calendar, you’ll find that in some months, you actually receive three paychecks. Don’t believe me? Have a look at March. Say you get paid every two weeks on Friday. If your first check came on the 2nd, your next came on the 16th, and the third was on the 30th. All your expenses have been entirely covered by the first two checks; this is the amount of money you planned on receiving. The third is pure gravy!

Assuming you’re not living paycheck to paycheck and have enough of a buffer in your primary savings account, this is a huge opportunity to hit your some of your financial goals hard.

Putting the Bonus to Work

What might you do with this “bonus” money? The possibilities are endless, of course. Here are just a few suggestions:

  • Fund a holiday account. I don’t have any consumer debt and I invest regularly anyway, so this is my personal favorite. With my first “bonus” check, I grab $500 and stick it in a ING savings account called “Christmas Fund.” When the most wonderful time of the year comes around, I can enjoy it and not worry about all the money I’m spending; it was allocated for that purpose long ago.
  • Pay off high interest debt. If you’re carrying credit card debt, you can use your bonus check to make a serious dent in it (or perhaps pay it off entirely!). This is a brilliant way to spend your bonus money; you get an automatic return of whatever interest rate you’re paying.
  • Make an extra mortgage payment. I’m a renter in Brooklyn, so I know very little about mortgages! However, I have read that making one extra mortgage payment a year is supposed have a great impact on the overall amount you spend to pay off your mortgage. Maybe you’ve thought about doing this before, but wondered how to find the extra money to do it. Using your “bonus” check makes it completely painless.
  • Max out your IRA. If you’ve got extra room in your Roth IRA or traditional IRA, why not max it out with your “bonus” money? Remember, you’ve got until 4/17/2012 to contribute to your 2011 IRA. The limits are $5,000 if you’re younger than 50 and $6,000 if you’re older than 50. If you don’t have an IRA yet, then start one with your “bonus” money!
  • Start (or contribute to) an emergency fund. If you don’t yet have an emergency fund, start one with this “bonus” check. You’ll immediately have half a month’s expenses covered. In fact, you could build your emergency fund entirely through “bonus” checks. If you get two “bonus” checks a year, in three years time you’ll have a three month emergency fund. Not bad for pretty much no effort!
  • Treat yourself! After regularly reading about personal finance for three years, I’ve become pretty good with money. In fact, I might be frugal to a fault. If you’re like me, you might want to use your “bonus” check as an opportunity to enjoy life. Take a spur of the moment trip, go out to that expensive restaurant you’ve been drooling over for years, or buy thoughtful gifts for your loved ones. I’m thinking about using some “bonus” money to go on a hot air balloon ride for my birthday!

Naturally, you’ll want to spend your “bonus” money in the best way possible for you and that depends on your own unique circumstances. So, what are you doing with your “bonus” money?

Source: getrichslowly.org

Posted in: Budgeting, Personal Finance Tagged: About, About Mortgages, advice, air, All, Amount Of Money, before, best, betting, bills, birthday, bonus, brooklyn, Budget, Budgeting, budgets, build, Buy, Checking Account, Christmas, consumer debt, couple, Credit, credit card, Credit Card Debt, Debt, discover, Emergency, Emergency Fund, expenses, expensive, Extra Money, Finance, Financial Goals, Financial Wize, FinancialWize, frugal, fund, General, gifts, goals, good, great, grocery, guest, guest post, holiday, home, hot, How To, impact, in, Income, interest, interest rate, Invest, investment, IRA, job, Life, Living, Make, making, max out, money, Mortgage, mortgage payment, mortgage payments, Mortgages, opportunity, or, paycheck, paycheck to paycheck, payments, Personal, personal finance, plan, Planning, pretty, rate, Reader Stories, Rent, renter, restaurant, return, rich, right, room, roth, Roth IRA, savings, Savings Account, Spending, stories, time, traditional, traditional IRA, unique, work

Apache is functioning normally

May 25, 2023 by Brett Tams

Boasting iconic views of the NYC skyline, a beautiful Brooklyn condo in a historic building has just hit the market.

Set in the charming neighborhood of Brooklyn Heights, the home is located in one of the first loft-style apartment buildings in the area, one with a long history of commercial use and subsequent residential use.

Located at 75 Livingston Street, the swanky suite designed by famed architect Henry Smith-Miller has been listed at $4.65 million by its famous — and art-savvy — owner.

Let’s take a look inside the historic building and the showstopping suite owned by notable Brooklyn couple, Arnold and Pam Lehman. 

History behind the luxurious landmarked coop

Landmarked in 2011, 75 Livingston Street was built by architect Abraham J. Simberg in 1926.

Also known as the Court Chambers Building, or the Brooklyn Chamber of Commerce Building, the 30-story tower is now an unmistakable residential cooperative located in downtown Brooklyn, NY. 

Exterior façade of 75 Livingston Street building in Brooklyn, New York.
Exterior façade of 75 Livingston Street in Brooklyn, New York. Photo credit: GrissJr, CC BY-SA 4.0, via Wikimedia Commons

In the past, the building was called the Court-Livingston due to its alternate street address of 66 Court Street. Originally built as an office tower, the structure was converted into co-op apartments in 1981. 

Now, the 30-story building is a full-service landmarked housing co-op offering a 24/7 doorman, live-in super and porters.

The residence was the longtime home of art-loving couple Pam and Arnold Lehman

The sellers of the gorgeous Brooklyn Heights home are a well-known Brooklyn couple, Arnold and Pam Lehman. 

Photo credit: Joel Pitra at DDReps

Brooklyn native Arnold Lehman was the director of the Brooklyn Museum for almost 18 years. He also formerly led the Baltimore Museum of Art.

Following his retirement from the Brooklyn Museum, he became senior adviser to the Phillips auction house located in New York City, London and Hong Kong.

He recently published a book titled Sensation, centered on the controversy that swept the Brooklyn Museum in 1999 after an exhibit displayed Chris Ofili’s The Holy Virgin Mary painting.

Pam was the administrator for the Kornfeld Foundation which has been involved in medical research, palliative care and literacy in New York City schools.

While the couple hasn’t publicly shared their reasons for parting ways with their Brooklyn Heights home, we suspect their massive art collection has something to do with it.

Avid collectors of contemporary art, the Lehmans have filled up their Brooklyn pad (as well as a house they had in Maine and other apartment in Miami, per a NY Times profile published in 2017) with unique works.

To name just a few of the notable art pieces that line the walls of the couple’s elegant Brooklyn home, pictured above: Kehinde Wiley’s large sidesaddle portrait, The Capture of Juliers (2006); Fernando Mastrangelo’s sculpture Brazil, in coffee, sugar and wood (2007); and Barbara Kruger’s lenticular photograph Have Me Feed Me Hug Me Love Me Need Me (1988).

A look inside the swanky suite

Listed just under five million, this contemporary gem has been highlighted in several design articles, including in the New York Times.

Spanning 3,000 square feet, the luxury condo offers three bedrooms and three baths.

Photo credit: Joel Pitra at DDReps
Photo credit: Joel Pitra at DDReps

Designed by noted architect Henry Smith-Miller, natural light bursts through the suite’s 30 oversized tilt-turn windows. 

Accessed by three private-keyed elevators, the home features a separate den and two study areas offering additional layout flexibility.

luxury den with art and picture windows with city views
Photo credit: Joel Pitra at DDReps
study with contemporary design and city views
Photo credit: Joel Pitra at DDReps

Including a sweeping entertaining space with a 35-foot open living/dining room and an impressive steel-walled 30-foot entrance gallery, the picture-perfect views stretch across Brooklyn Bridge Park and the harbor to the Statue of Liberty, lower Manhattan, Governors Island and beyond.

Photo credit: Joel Pitra at DDReps

The kitchen offers chic stainless steel cabinetry with a Viking stove, Bosch dishwasher, and separate full-size Sub-Zero refrigerator and freezer.

luxury stainless steel kitchen
Photo credit: Joel Pitra at DDReps

The private and panoramic outdoor space is highlighted by two terraces offering beautiful backdrops and sunrise-to-sunset views.

terrace at 75 Livingston street
Photo credit: Joel Pitra at DDReps
terrace at 75 Livingston street
Photo credit: Joel Pitra at DDReps

With its truly a one-of-a-kind skyscraper design located near all the services and transportation, the luxurious Brooklyn Heights condo is listed by Sandra Cordoba of Compass.

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Source: fancypantshomes.com

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Apache is functioning normally

May 25, 2023 by Brett Tams

In a rather surprising move, United Wholesale Mortgage president and CEO Mat Ishbia is set to acquire the Phoenix Suns and Phoenix Mercury.

The deal is reportedly valued at somewhere near $4 billion, per sources who spoke to ESPN.

The sale would be a record high for an NBA franchise, well above the then NBA-record of $2.35 billion for the Brooklyn Nets back in 2019 to Joe Tsai.

It comes at an interesting time, with mortgage volume down markedly from a year ago thanks to significantly higher mortgage rates.

But it could be a way for Ishbia to diversify his assets and not be fully reliant on mortgage lending.

Ishbia to Purchase the Phoenix Suns for Around $4 Billion

As noted, Ishbia will reportedly acquire the Phoenix Suns and WNBA franchise Phoenix Mercury for around $4 billion, per ESPN.

And while he might be best known as the owner of United Wholesale Mortgage, the largest wholesale mortgage lender in the country, he has a lot of basketball ties.

For one, he was a walk-on at Michigan State, one of the best college basketball programs in the nation.

Additionally, he was part of the Spartans’ 2000 National Championship winning team, though his playing time was very limited.

Back in the summer of 2021, he inked a “name, image and likeness” (NIL) deal for UWM with Michigan State, offering $500 per month to MSU athletes during the 2021-2022 season.

Prior to that, UWM made a deal with the Detroit Pistons to feature their logo on the left front strap of official team jerseys for the 2021-22 NBA season.

So it’s abundantly clear the man loves basketball, and is now taking a huge leap forward via NBA/WNBA ownership.

Assuming the sale goes through, it will mark the end of the Robert Sarver era dating back to 2004.

Before that, the team was owned by Jerry Colangelo, who sold it to Sarver for what was then also a record $401 million.

Ishbia joins Rocket Mortgage founder Dan Gilbert as an NBA owner, with the latter acquiring the Cleveland Cavaliers in 2005.

Ishbia Has Led a Mortgage Broker Revolution

mortgage broker share

After the mortgage crisis in the early 2000s, mortgage brokers were often the ones blamed for what transpired.

The general argument was that the quality of loans originated via the wholesale channel (brokers) were worse than those from the retail or correspondent channel.

At the time, many wholesale mortgage lenders closed shop, and large banks shut down their mortgage broker channels.

But over the past several years, the mortgage broker has returned in a big way, and now holds the highest market share since 2009.

Per a slide shared recently on Twitter by Ishbia, mortgage broker share rose to 22.25% in the third quarter of 2022, up from just 14.61% in 2016.

It was apparently as high as 35% in 2006 before the housing market crashed, but then fell below 10% for many years thereafter.

Ishbia’s UWM operates exclusively via the wholesale lending channel, meaning you can only work with them via an independent mortgage broker.

They do not have a retail operation that caters to consumers, unlike some of their competitors that do business via both channels.

Despite this, UWM became the nation’s largest mortgage lender during the third quarter of 2022.

Ishbia’s company was able to originate about $33.5 billion in home loans, significantly more than their crosstown rival Rocket Mortgage, which funded $25.6 billion.

Of course, their big numbers are only a reflection of a three month period. It remains to be seen if they can take the top spot over a full 12 months.

If they do, it would be quite the feat given their 100% devotion to mortgage brokers.

As for the Phoenix Suns and Mercury, they should be in good hands, with an owner that has a true basketball pedigree.

(photo: Chilli Head)

Source: thetruthaboutmortgage.com

Posted in: Mortgage News, Renting Tagged: 2, 2016, 2021, 2022, About, assets, banks, Basketball, before, best, big, Broker, brokers, brooklyn, business, Buy, CEO, clear, College, company, Consumers, correspondent, correspondent channel, country, Crisis, dating, diversify, espn, Financial Wize, FinancialWize, front, General, good, home, home loans, Housing, Housing market, in, lenders, lending, Loans, man, market, Mat Ishbia, Michigan, More, Mortgage, Mortgage Broker, mortgage lender, mortgage lenders, mortgage lending, Mortgage News, Mortgage Rates, Move, NBA, or, ownership, Phoenix, president, PRIOR, programs, Purchase, quality, Rates, sale, shut down, summer, time, Twitter, united, United Wholesale Mortgage, UWM, volume, Wholesale Lending, will, work

Apache is functioning normally

May 25, 2023 by Brett Tams

The most popular person in Los Feliz is Joan, the owner of a soon-to–be-vacant prewar apartment on Avocado Street. On a gloomy afternoon, Joan stands at the apartment’s doorstep, surrounded by five prospective tenants. We wait, hushed and breathless, as Joan takes the key from her purse.

“You’re the lucky ones who get to see it early,” she says.

Yes, we are the chosen, desperate few. Among nearly 50 interested callers in the three days the unit has been listed, we are the ones who called Joan multiple times. We left beseeching voicemails. We begged to submit applications without even seeing the apartment. We promised to be perfect tenants. We’ve witnessed its grandeur on Zillow — a $3,800 two-bedroom that’s a 15-minute walk from Griffith Park — and we know this one won’t last.

As Joan fits the key into the lock, I glance at the other prospective tenants, all of whom appear to be nice, respectable people. This is extremely unfortunate as they are now pitted against me in one of L.A.’s most cutthroat endeavors: finding an apartment.

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As Joan ushers us inside, I ask a woman in a pea coat how her housing search is going.

“Brutal,” she says. “I just lost a place to someone who paid an entire year’s rent up front.”

Inside, the apartment is gorgeous. We are collectively awed.

“Is this place staged?” a man with an Australian accent asks more than once, admiring the current tenant’s furniture. A short woman in a ball cap kneels on the floor, takes out a tape measure and begins aggressively assessing different walls. It is a power move. A laminated application is tucked beneath her arm. “My landlord is the new attorney general and she’s happy to provide a reference,” the ball cap woman tells Joan, loud enough for everyone to hear.

I catch the eyes of a blond woman in a trench coat. An understanding passes between us. We are no match for the ball cap woman. We did not laminate our applications. In fact, I didn’t even bring an application because I don’t own a printer. As the other tenants hand in their applications, Joan casts a hard, appraising glance my way. “I’m gonna email it,” I mumble. I immediately feel like a naughty child who hasn’t handed in her homework — the exact opposite of the sort of person who will get the place on Avocado Street.

In the backyard, an orange tree hangs heavy with overripe fruit. “Imagine, fresh orange juice for breakfast every day,” someone says. We sit silent for a moment, envisioning the future that will someday belong to only one of us: sitting at the cozy dining nook, sipping juice made from freshly picked oranges before heading out for a stroll to Griffith Park.

“It’s just nice to know this place exists,” the blond says, sadly.

In my hunt for an apartment, I saw more than 30 places: dumps and palaces and everything in between. Despite news of an L.A. exodus, the housing market shows no sign of cooling. At nearly every open house, I was pitted against New Yorkers who, like me, had decamped from Brooklyn in search of sunlight and a place to park their cars.

I found and lost my dream home twice. Aside from Joan, I met many landlords and found that, generally speaking, they are strange people.

Some, like a soft-spoken older woman leasing an $1,800 one-bedroom apartment at the foot of the Hollywood Hills, are delusional. The unit, which was advertised using Zillow’s two most-favored descriptors — “charming” and “sun-drenched” — turned out to be neither. It faced a hideous building that choked out even the smallest possibility of afternoon sun-drenching. When the landlord asked if I was interested in renting it, I said no, sorry. I was hoping for a place with more light. A place with a view.

“But this place has a view,” she insisted. “The building across is so lovely.”

Many landlords I met, like the owner of a $3,900 Spanish two-bedroom in Echo Park, have a frazzled, frantic demeanor. The Echo Park landlord hoped to sell the property or rent it, whichever happened first, he told me. He’d originally bought the place to market it as an Airbnb, but the city tightened its restrictions and he was forced to rent it out long-term. This was a relief in some ways, he said, because he’d found that managing an Airbnb was a nightmare.

“People are monsters,” he said. He once hosted guests who infested the unit with bedbugs. Another group stole all the lightbulbs. Worst of all was the man who defecated on the floor and said the cleaning fee should cover the cost of its removal.

“Are you sure it wasn’t a dog?” I asked.

“It was definitely human,” he said.

I asked where he found the feces. He pointed to the middle of the living room floor, the very place I’d envisioned my coffee table.

A more discreet landlord would have concealed this sordid history. Still, it’s sometimes difficult not to consider the sad circumstances that lead a property to be listed on the market in the first place.

This is especially true when you look at lease takeovers for one- or two-bedroom apartments. These leases, in my experience, often are broken due to heartbreak: Two people who once loved each other now hate each other and can no longer live together. One man I met who had advertised a lease takeover on Zillow greeted me in the driveway of a pretty, $4,000 Silver Lake two-bedroom condo. He looked as though he’d just been crying. He showed me inside, and when I told him the place was nice, he let out a low, resentful bleat of laughter.

“Yeah, isn’t it great?” he said. “I thought my partner and I would live here for years. But life is unpredictable, isn’t it?” And then he gazed ruefully out the window.

Walking through the condo, I wondered in which room he and his partner had argued most. Had they screamed at each other in the 250-square-foot bedroom with the attached bath? Had they bickered in the recently remodeled kitchen? Had they realized they no longer loved each other as they sat in the charming, sun-drenched living room?

Another consideration is who your new neighbors will be. One property manager leasing a snug one-bedroom apartment on Los Feliz Avenue for $2,200 vented for several minutes about the people who lived directly above the unit. More than anything, the property manager wanted to evict these tenants, who, he said, had not cleaned their toilet for several years. This had resulted in a grievous plumbing situation that affected not only their unit but also the one below it — the very unit I had come to see.

“The apartment is yours if you want it,” the property manager told me. I said I’d think about it, but I knew I’d never live there. It seems that I am always being offered the places I don’t want and never the places I do.

When I first came to L.A., I promised myself two things: I would never live on the West Side (I wrongly thought at the time that Silver Lake was superior), and I would never live in an apartment with vertical blinds. But the housing market humbled me. I signed a lease for an apartment in Santa Monica. I had the vertical blinds removed.

Two days after I saw Joan’s apartment, she sent me a text: “Thank you for your interest,” she wrote, “but the Avocado Street unit has been rented.”

I hope that the ball cap woman enjoys her place and that all her furniture fits.

Source: latimes.com

Posted in: Spending Money Wisely Tagged: 2, About, accent, airbnb, All, apartment, apartments, Applications, ARM, ask, Backyard, ball, bedroom, before, belong, breakfast, brooklyn, building, cars, city, cleaning, coffee, coffee table, condo, cooling, cost, dining, dream, dream home, driveway, experience, Financial Wize, FinancialWize, Finding an Apartment, floor, front, fruit, furniture, future, General, great, guests, history, Hollywood, Hollywood Hills, home, house, Housing, Housing market, in, interest, kitchen, lake, landlord, landlords, learned, lease, Leases, leasing, Life, Live, Living, living room, LOS, los angeles, low, man, market, measure, More, most popular, Move, neighbors, new, News, open house, or, orange, Other, park, place, plumbing, Popular, pretty, property, Rent, renting, room, search, Sell, short, Side, square, tenant, the west, time, walking, will, woman, Zillow
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