Supersized Family As Status Symbol

And no one needs the suburbs now that the suburbs are here:

While the national housing market is experiencing a major slowdown, Manhattan’s wealthiest families are buying up as many apartments as they can and combining them into rambling mega-units. Brokers and developers say that buyers in this segment of the market are finding that they have few large apartments to choose from, and so they are creating the spaces they want from a half dozen one- and two-bedroom apartments. While some buyers are swallowing up whole floors of new condominiums, others are buying neighboring apartments in older co-op buildings as they become available.

Gary Barnett, the chief executive of the Extell Development Corporation, which is building the Ariel West at 245 West 99th Street, where the Ashleys bought, said the building has 70 apartments after seven units were combined into three.

These combination units are not bargains: two-bedroom apartments in the building typically cost $1.5 million to $2 million, and three- and four-bedroom apartments cost $2.5 million to $3 million.

Mr. Barnett plans to include 4,500- to 8,500-square-foot apartments in two projects planned for the Upper West Side for more families like the Ashleys. “A number of people we’re seeing who have three, four and even five children need these spaces,” he said.

This trend is seen most often on the Upper East and Upper West Sides. For example, in the last two months, five families paid $5.5 million to $13 million for apartment combinations at the Brompton at 205 East 85th Street. These resulting apartments range from 4,500 to 8,000 square feet, according to the Related Companies, the Brompton’s developer.

. . .

Stephanie Coontz, the director of public education for the Council on Contemporary Families, a research group in Chicago, described this as an “hourglass economy” with more rich people at the top and more poor people at the bottom. At the top, the superrich are finding that there are so many “merely rich” people that they have to find new ways to distinguish themselves. They are able to set themselves apart by having larger families and larger combined apartments to house them.

“You’ve got this incredible wealth at the top, and more people jockeying to put themselves at the top of that,” Ms. Coontz said.

Maybe Jeremy Piven — Or If You’re Lucky, Wallace Shawn — Will Play You In The Feature Film

There are at least two acts in there somewhere (some enterprising whippersnapper needs to supply the third):

The Carroll Gardens widow who fought to die in the home she’d lived in her entire life, won a Pyrrhic victory this month — dying in the apartment on Aug. 12 and defeating a developer’s two-year-long quest to evict her.

Angelina Visconti, 88, died of natural causes at Long Island College Hospital, though she was still a resident of the Cheever Place rowhouse.

“She got her wish, and that was what it was all about,” said Leonard Visconti, her son. “She always said she was born here, she wanted to die here.”

Visconti’s residency became an issue in 2005, when her nephew Joseph DeLeonibus, the son of Visconti’s late twin sister, tried to evict her so he could make a killing in the booming Carroll Gardens real-estate market.

The house was eventually sold for $1.13 million to developer Wayne Warnock, who picked up the eviction proceedings where DeLeonibus left off.

Earlier: Notices To Quit Thicker Than Blood.

Shebam! Pow! Blop! Fizz!

In the recession years of the early 90s Harlem’s real estate was in much better shape compared to that of the East Village simply because of Upper Manhattan’s excellent subway access, something people on Columbia Street in Brooklyn are realizing today:

Two years ago Freddy Saint-Aignan and his wife, Angelika, found the perfect location for their fledgling bar/restaurant, the Sugar Lounge: Columbia Street in Brooklyn.

The building was just the right size, had a spacious backyard garden and sat beside Upper New York Bay. The city had big plans for the area: green space and parks, cruise ship piers a few blocks away

The Columbia Street Waterfront District, as it is called, was going to be resurrected to its past stature as a social and commercial hub. It was going to rival Smith Street in Boerum Hill, which had gone through a renaissance, attracting high-end boutiques and specialty stores, restaurants and a steadily swelling flow of shoppers and diners.

But that was two years ago, and instead of a silver lining along the Manhattan skyline, which the Saint-Aignans can see from the lounge’s front window, they see the outstretched arms of backhoes, cranes and industrial containers. Where there was to be a park across the street there is shredded earth, construction vehicles and exposed sewer pipes. The sidewalk is dirty and ragged, and aside from the occasional dog walker, jogger or in-line skater (along smoother stretches) there is very little foot traffic.

At night, the street outside the lounge is dark, the street lights dimmed by damage and disrepair. The promises of better days for Columbia Street have crumbled like the sidewalk in front of the Sugar Lounge, Mr. Saint-Aignan said yesterday.

“Smith Street has everything,” Mr. Saint-Aignan said from his cozy lounge, pointing out the contrast with Columbia Street. “With all the construction, there is no place for parking. We have no access, no subway, no buses. At night we have no lights.”

The Columbia Street corridor has struggled to propel itself into the orbit of the Brooklyn revival. Depending on whom you ask, the Columbia Street commercial strip is in Cobble Hill or Carroll Gardens or — more recently — Red Hook. It is bordered on the west by New York Bay, on the east by the Brooklyn-Queens Expressway, on the north by Atlantic Avenue, and on the south by the Brooklyn-Battery Tunnel.

Mr. Saint-Aignan, formerly the general manager of Bar Tabac on Smith Street, said he had had to take on two other jobs to stay afloat.

The wishful thinking about Columbia Street’s being the new Smith Street goes only so far. The magical combination that makes one street hot and another tepid can seem elusive, but not here, where the reasons for the stalled revival are painfully clear. Continuing construction, a sense of geographic isolation and waning buzz continue to hush the “pop” that speculators had predicted.

For a while, “everyone wanted to come,” said Frank Manzione, who owns a real estate company on Columbia Street. “There were new condos being built, more people were moving in. A lot of the stores that were closed up started to get rented.”

High-End Manhattan Real Estate Is A Riche Market

New York is Tijuana for the European middle classes and now Cabo for the Euro-rich:

Meanwhile, the housing market everywhere else in the country is morbid, Wall Street is skittish and even Mayor Bloomberg says pricing here should be coming down. “You might think we were being set up for some major reversal,” said Prudential Douglas Elliman senior vice president George W. van der Ploeg.

But New York is unfallen: This autumn’s new batch of listings will trek onward and upward.

According to two sources, Roger Barnett (CEO of natural products company Shaklee) and his wife Sloan (cellphone billionaire George Lindemann’s daughter) have begun to quietly ask around $62 million for their 125-year-old neo-Georgian town house. The 33-foot-wide mansion at 16 East 69th Street, designed by Peter Marino, was bought less than seven years ago for $11.5 million.

. . .

No townhouse in New York City has ever been officially listed for more than the Barnett place. Likewise, no apartment had sold for $50 million before two spreads in the newly made-over Plaza broke that sacred ceiling this summer.

Our city knows its real estate is monstrous and anarchic, and that the sales price of an average apartment has tripled over the past decade. But that stat is trivial compared to the high-end’s dazzling rise. There are more big-ticket buyers around who are willing to spend their money on “fine art” real estate, even if prices are so much vaster than last decade’s.

“The disparity between the rich and the superrich is becoming ever greater,” Mr. Henckels said, “and until that reverses itself, the prices at the very high end are safe.”

Downtown is getting in on the superrich action too. Venture capitalist Fred Wilson sold his family’s West 10th Street townhouse this March for $33.15 million, though he reportedly paid $7.35 million in 2000. And a full-floor penthouse at 200 11th Avenue, with an en-suite car garage space, will go on the market this September for around $18 million, which listing broker Leonard Steinberg at Douglas Elliman said will be the biggest Chelsea listing ever.

In an e-mail, Mr. Steinberg cited demand from “the NOUVEAU nouveau riche” — homegrown but especially foreign.

“Everyone with euros or pounds,” said Kathy Sloane, the Clinton family broker and another Brown Harris director, “thinks we’re giving real estate away.” She said she’s broken records at every building she’s sold in this year.

It’d Be A Long Walk To The Subway . . .

. . . but there’s something about those views:

Meanwhile, rumors are circulating that [Richard] Goldring and his associates might be looking to unload the sprawling 10,000-square-foot stripper-plex on West 28th Street, which last sold for $10 million in 2004 and now could go for four times that sum.

“At the right price, it’s available,” said Manhattan nightclub broker Alex Picken of Picken Real Estate, who’s been marketing several other nightclub properties in a rapidly changing West Chelsea.

A converted parking garage, the Scores West building on West 28th Street sits along a former industrial strip that was recently rezoned to allow for new residential development.

Could condos soon replace the beleaguered pole-dancing palace? Would each condo come equipped with its own stripper pole?