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New Developments in the News

APRIL 18, 2011

1862 Tribeca gem with full-sized basketball court available for $45 million; Assembly passes bill to shore up expiring rent regs though its fate in the Senate is unsure

A six-story building at 144 Duane Street is for sale for a cool $45 million. A triplex apartment on the building’s top three floors—including 1,000 square feet of space, an architect-designed glass-suspension staircase between the fourth and sixth floors and a full-size basketball court in the basement—is available separately for $30 million. In addition to four apartments, the building is anchored by 6,000-square-feet of retail space at street level.

The New York State Assembly has passed a bill that would strengthen the state’s rent regulations. The bill addresses laws, set to expire on June 15, governing how much landlords can raise tenants’ rents and other issues. The bill, backed by Gov. Andrew M. Cuomo, replaces current regulations and has been the subject of debate between the real estate industry and Democratic legislators. The legislation has a tough road ahead once it hits the Republican-controlled Senate.

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