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WILLIAMSBURG, LONG ISLAND CITY—The Toll Brothers are thisclose to trotting out Crazy Eddie. A reader sends along this, from a Toll Bros email: "we are offering $10,000 off closing costs when you purchase a new home at Northside Piers, North8 or 5th Street Lofts between now and Monday, October 15, 2007." Huzzah! So, which one will you be buying? [CurbedWire Inbox]
LOWER EAST SIDE—A trusted source passes along word that the boutiqueish East Houston Hotel will open on Friday. Fuck. Yes. Then again, we could get stuck with another dreaded "two weeks." [CurbedWire Staff]
TRIBECA—Everyone knows that Tribeca Space on Murray Street is totally screwed, and a Curbed reader wants to fan those flames some more: "I remember the inital post last spring about the weird second bedrooms (among other problems). Rumor is that the developer is being forced to recharacterize the second bedrooms as home offices (which requires a new submission to the AG). In addition, the is a rumor that there is a new tax problem. Looks like there will be no closings in 2007." And it continues. [CurbedWire Inbox]
TRIBECA, SOHO—We love long dissertations on property taxes, so here's one right now: "I've recently learned that a number of buildings in Soho and Tribeca have been hit with massive property tax increases (in the neighborhood of 100%). Apparently one of the factors the city is looking at in doing the assessments is how much rental income is going to the coop. Because buildings breaking the 80/20 rule have large cash payments from rentals run through the building, the city sees that rental income when the coop does the tax filing. Although the coop may be tax exempt the city is saying that the building itself is more valuable because of the increased rental income. BUSTED." [CurbedWire Inbox]
