Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section...
1) Rich people. What are they spending millions of dollars on? What are they complaining about? This is What's Up With Rich People?
Rich people trying to sell their apartments in the most genteel of buildings are running into serious issues, as the allure of newer developments (like One57 and 15 CPW) are forcing them to slash prices. What does this mean? Is it the beginning of an Old Money/Nouveau Riche civil war? Will the gutters of Fifth Avenue run blue with blood? Only time will tell. ["May I Have a Price Check?"]
2) Every "The Hunt" column begins with the Hunters describing the apartment they want, and ends with them rationalizing whatever they came away with. This is The Hunt: Dreams vs. Reality]
The Hunter: a couple looking to move into a rental together
Dream: "Near Prospect Heights"
Reality: Crown Heights
Dream: spacious, old, with character
Reality: prewar, newly restored, noisy
Very charming background here. The Hunters were high school sweethearts who drifted apart, as high school sweethearts are wont to do. Then, a year ago, Mr. Sambets stumbled across Ms. Cayen's dollhouse blog and decided to reach out to "the one that got away." They reconnected a year ago and decided to move in together, seeking a one-bedroom close to Prospect Heights, where Mr. Sambets owns a bar. They looked around Brooklyn and eventually settled on a townhouse rental in Crown Heights, going for $1,895 a month, plus broker's fee. Incidentally, this would also make a great/insufferable Vows column, depending on how you feel about Vows columns. So cute; so Brooklyn. [The Hunt/"Dollhouse Made Them Do It"]
3) History Lessons
This week in the Real Estate section, there's a fascinating article on Edward Clark and the history of the Dakota. Clark bought the land on which the Dakota now stands in 1877, and he and his progeny built a number of rowhouses in the area. The article charts this boom and subsequent bust of Upper West Side development (sound familiar?) and the deceptively sordid history of 73rd between Columbus and Central Park West, where, in a basement in 1936, police arrested one Patrick Devereaux, "who was in possession of 100 marijuana cigarettes, which he was selling at nine for a dollar." Wild stuff. ["The Dakota's Cousins and How They Grew"]