“Committee to recall Jams Rotundo from Office of Mayor” initiated
- Registered with IRS in July. An attorney appointed.
- 3-4 Korean residence is main force, not Michael Pollotta people.
- Reasons: Employment of his family and relatives with town, spending about $600K / year.
- Recall campaign will begin soon.
- Application -> needs 25% of voters petition in 160 days. (6000 voters in PP)
A House in a desert becomes ‘cash cow” by using AirBNB?
- A house in Yucca Valley in Cal was purchased at $28,000 -> makes $14,000 annual income ( Another Cabin purchased at $80,000 -> makes $25,000 annual income )
- About 100 houses registered in AirBNB in Yucca Valley area
- About $69-150/night
- Most popular house with AirBNB -> Mushroom dome Cabin in Santa Cruz mountain à requires reservation 6 month before.
- Mil Gen doesn’t have loyalty to hotel/motel -> like to have different/special experience.
Fort Lee, Planned parking deck will be smaller than plan
- Initial plan: 400 ($18M) -> adjusted to 220 ( Total 635 including surface lots)
- Parking deck construction will begin Fall and takes 12 months
- Will include 3 story commercial and office at the south end of the deck.
- Town acquires current post office bldg. -> public plaza.
- Fort Lee school district admin office will move in.
- Hudson Lights rental residence: 276 units with 143,000 sf retail space/ 2nd Modern: 450 units/ 2nd phase of Hudson Lights: 201 units. -> More traffic
Manhattan Condos purchase -> shift to more realistic(low price) demand
- $1M-$3M range become popular / over $10M range demand decreasing
- Almost stop sales on 57th
- Hudson Square, 70 Charlton condos -> Explosive demand (mostly under $3 M) 1 Br : $995,000
- In June, $500 K – $990 K range condo takes 4.7 months to sell.( $10 M takes 25.7 months)
- “One57” condo ->over 2000 sf / “70 Charlton” condo ->1071-1622 sf
$35M listing in Mahwah on Wed -> 2nd priciest home for sale in Bergen Co
- 25 room on 46 Ac horse farm. ( 1st priciest: 12 Br Stone Mansion in Alpine: most recently listed at $49 M/ has been listed since 2010) Owner : Price Rock LLC purchased in 2009 Tax: $107,978 / 10 Br(10 Bath), soccer field, basket court, indoor & out door swimming pools, wine cellar, home theater, 20 stall stable, indoor riding arena