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The latest news on Real Estate from Business Insider

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    The five-foot-wide apartment in Poland, known as the Keret House, is ready to be lived in, and Time Magazine took a look inside. 

    The 46-square-foot house was built in an alley between two other buildings by Polish architect Jakub Szczesny.

    Living arrangements in the house are so tiny that the fridge has room for just two sodas, and residents must climb a ladder to reach the bedroom. In the bathroom, there's a toilet and a shower that hovers almost directly over it.

    This place looks so cramped, there's hardly room to turn around. 

    Let's take a sneak peek inside:

    DON'T MISS: The Incredible Transforming Apartment In London 

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    amittyville horror house

    The home that was used in the Amityville Horror movie is on sale for $935,000, according to Zillow.

    Just the exterior of the house was used in the film and the house is located in Toms River, N.J., not Amityville. 

    No word on what Hurricane Sandy has done to the spooky house, but considering it is Halloween, this haunted house seemed like the perfect one to feature. 

    The house has four bedrooms and five bathrooms. 

    The exterior of this house, which is actually 100 miles from Amityville, was used in the 1979 movie.

    The house is 3,370 square feet.

    We love the fireplace.

    See the rest of the story at Business Insider

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    One57 Crane

    Some serious lawsuits could result from Hurricane Sandy's gusts of wind toppling a crane over the still-under-construction glitzy One57 building in Midtown Manhattan Monday, according to The Real Deal. 

    The crane was completely bent backward by the wind. It threatened to drop over the 57th Street area during the peak of the storm.

    In the worst case scenario, if the crane was not secured properly or city rules were not followed, there could be criminal negligence charges filed against One57 developers, Extell and Lend Lease, sources told The Real Deal.

    Most suits will most likely come from businesses that were evacuated in the area suing over loss of profit. 

    Extell said that Lend Lease “took all recommended measures to position the crane in anticipation of a hurricane,” according to a statement.

    The crane continues to dangle nearly 1,000 feet in the air.

    There's no word on if the incident will delay the opening of the building. 

    Now tour the inside of the glitzy building >

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    Billy Joel

    Billy Joel has struggled to sell his Hamptons abode for nearly two years now.

    And Hurricane Sandy didn't do the piano man any favors.

    Next to Joel's Sagaponack home, where there use to be a beach, there is now an eight-foot drop off, according to The Real Deal.  

    Jeffrey Colle, a high-end Hamptons developer located in Wainscott, told The Real Deal:

     “There's an enormous amount of erosion in the main dune. ... The road stops and you walk onto the sand usually, and, well, now the road stops and it’s just eight feet down."

    Joel had lowered the price several times on the four-bedroom, six-bathroom house. It's currently asking $16.75 million. 

    Joel and his now-ex wife bought the home in 2007 for $16.8 million, so now there's almost no chance Joel will even break even. 

    Now tour Joel's Hamptons House >

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    One57 Crane

    The dangling crane hanging over the glitzy One57 building has not deterred buyers, the New York Post is reporting. 

    An unnamed Connecticut hedge funder just purchased a $30 million unit inside of One57, despite the recent incident. 

    One broker told the Post: 

    “Buyers have a short-term memory when it comes to these things — unless someone gets severely injured.”

    Hurricane Sandy snapped the crane over the still-under-construction apartment building, causing panic in Midtown on Monday. The surrounding area was evacuated in case the crane crashed to the ground.

    The building is almost sold out of full-floor units, having reportedly brought in over $1 billion.

    Now Take A Look Inside This New Luxury Building >

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    barclays brooklynThe New York Times architecture critic has finally weighed in on the new Barclays Center in Brooklyn, and he's not impressed.

    Michael Kimmelman held off on reviewing the stadium until he had a chance to go inside. Now that he has he calls the arena "a hunkered-down, hunchbacked, brooding sight at the intersection of Flatbush and Atlantic Avenues."

    He calls the rusty exterior "a digital-age extrusion of hard-core industrial glamour."

    But Kimmelman praises the stadium's interior, from the court to the sound system.

    "No, this isn’t a beautiful or ingratiating building, but it’s technologically smart."

    Pre-opening reviews of the arena weren't glowing either. The Real Deal's James Gardner called the arena "tawdry and uninspired."

    The New Yorker's Alexandra Lange said she reacted in "dismay" to how the Barclays just didn't fit in with the rest of Atlantic Avenue. 

    Now take a tour the inside of the Barclays >

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    living small nyc, tiny apartments, michael bloomberg

    With big city dreams come small city apartments.

    Urban dwellers must face the reality that cities are becoming increasingly over-crowded which means that housing is in short supply.

    In New York City, 1.8 million one- and two-person households exist, but there are only 1 million studio and one-bedroom apartments in Manhattan, leaving a housing shortage.

    The surge of tech wizards descending on San Francisco and the Bay area has caused rent in the city to skyrocket 22 percent since 2008, according to The New York Times

    London, too, is dealing with a housing crisis, where 1 in 10 people are on housing waiting lists, according to The Guardian.

    In China, the firm Dragonomics estimated nearly 50 million of China's 230 million urban households live in "substandard quarters often lacking their own toilet and kitchen." To combat this issue, China would have to build 10 million apartments a year until 2030.

    Clearly there is an urban housing crisis happening around the world, and it's forcing cities to rethink their approaches to real estate. But there's a solution: micro-apartments.

    A global trend

    New York City's housing shortage prompted Mayor Michael Bloomberg's administration to commission 80 300-square-foot apartments in Manhattan this past summer. These prospective apartments, which are expected to rent for $2,000 a month, are so small that Bloomberg will have to amend zoning laws, which currently states that all apartments must be at least 400 square feet. The apartments in New York City will be just four times the size of a standard prison cell.

    "People from all over the world want to live in New York City, and we must develop a new, scalable housing model that is safe, affordable and innovative to meet their needs," Bloomberg said in a statement announcing the apartments. 

    San Francisco has an influx of aspiring tech workers, but not nearly enough units to accommodate them. So the city is considering legislation that would change the city's building codes to allow developers to build micro-apartments as small as 220 square feet--even smaller than New York's. The legislation will be voted on in November.

    “We have a housing affordability crisis here; rents are through the roof,” Scott Wiener, the city supervisor who introduced the legislation for the micro apartments in San Francisco, told The New York Times.

    The city of San Jose, California, has already built 220-square-foot micro-units, while other cities across the country, like Seattle, Chicago and Boston are also considering the idea, according to the New York Times.

    Similarly, several international cities like London, Warsaw, and cities in China have all adopted a micro-apartment model, where residents pay high prices to live in tiny, but optimally-located, living spaces.

    An 8' X 10' apartment in London was originally on sale for $145,000, but because of its prime location, next to Harrod's department store, more than 12 bids have been put on the apartment. The real estate agent selling the property guessed the place will sell closer to $500,000. 

    The city of Dongguan, in southeast China, is considering building apartments that measure a mere 160 square feet--about the size of a parking space, according to the Wall Street Journal. These tiny apartments would provide an affordable solution to the city's housing crisis.

    In Warsaw, Poland, micro-apartments are more of an art form and an experiment. A five-foot-wide "home" opened last week, where artist Etgar Keret plans to live for six months, and then eventually rent out. The bathroom is so small in the home that the shower head hovers above the toilet.

    Paris, Tokyo and Singapore are also known for having tiny apartments. 

    An ongoing debate

    But not everyone believes that these micro-apartments are the solution. Tenants rights advocates worry that this trend could set a bad precedent.

    “Are we saying it is acceptable to box people up in little tiny spaces?” Tommi Avicolli Mecca, director of counseling at the Housing Rights Committee, a nonprofit organization, told the New York Times. “What standard are we setting here?”

    These tiny apartments could also create a larger issue that divides classes. Will these new micro-units mean that only the super rich can afford to live in 800-square-foot plus apartments while the middle class settles for 300-square-foot closets?

    Designing for micro-apartments

    Some entrepreneurs are embracing the trend and finding ways to help people maximize their space. In order to live in these tiny apartments, the space has to be utilized cleverly.

    Simon Woodroffe, founder of Yotel, has created a transforming apartment, with walls that move to create new spaces, or to allow a kitchen table to pop up from the floor. 

    "History will judge us for living in an absolutely primitive age compared to what it's going to be compared with the future of these types of home. People are going to say 'remember when they only had one space and it couldn't move around?'" Woodroffe said in an interview with CNN Money. 

    Other companies such as the Itzy Bitzy furniture store, have created smaller versions of end tables, dressers, and head boards, so inhabitants of these tiny apartments can still feel as if their home is furnished properly. Similarly, CB2, an extension company from Crate & Barrel, makes modern furniture for apartments and lofts. The furniture is to scale with smaller living spaces, but gives consumers trendy options. Companies such as West Elm, Milano Smart Living, and even super store IKEA have all surged on the small living trend. 

    It's clear that cities across the world see the only solution to the housing crisis is to think small. 

    yo! home transforming london apartment


    8 x 10 foot apartment in london

     See more features on What's Next in the fields of design, art, tech, and science >

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    paris france $92 million

    A historic mansion in Paris has just hit the market for a mid-blowing $92 million.

    The home is currently owned by an unnamed Russian billionaire, according to the listing. The current owner has completely restored the turn-of-the century mansion

    The house is actually gigantic at 34,400 square feet. The home has five bedrooms, and plenty of additional staff quarters. Most have ensuite bathrooms. 

    DON'T MISS: A Parisian Palace In The Heart Of Texas Is On Sale For $35 Million 

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    switzerland $7.7 million house

    A 4,600-square-foot home in Switzerland is on sale for just more than $7.7 million

    The home has four bedrooms, four bathrooms, and one half bath.

    The house is in Clarens, which the listing calls "one of the best districts in the region."

    Welcome to Clarens.

    The current owner is asking $1,684 per square foot.

    The home has three fireplaces.

    See the rest of the story at Business Insider

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    private swedish island

    Who really needs neighbors?

    The prices of islands of plummeted since the housing crisis, nearly 25 percent, making right now the best time to buy your very own private oasis. has 460 listings that include an island that you can buy right now. We've picked out some of our favorites.

    For a bargain $572,000, own a private island in Sweden. The island, set in Lake Mjörn, is rocky and has plenty of cliffs.

    Click here to see more photos of the island >

    The home on the island has five bedrooms, one bathroom, and one half bath, spanning 1,400 square feet.

    Click here to see more photos of the island >

    For $1.95 million, buy this island in New York State in the St. Lawrence Seaway. The island spans 1.3 acres.

    Click here to see more photos of the island >

    See the rest of the story at Business Insider

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    mercer street penthouse $16 million

    For all of you aggressive New Yorkers still apartment hunting during the hurricane: this beautiful SoHo penthouse is for sale for $16 million

    Most New Yorkers are calling SoHo, SoPo (South of Power), however, so we can't guarantee this pad has power right now.

    The penthouse has three bedrooms, three full bathrooms, one half bath. 

    The penthouse is on top of Jean Nouvel’s iconic 40 Mercer Street.

    And spans 3,000 square feet.

    The architect wanted to combine indoor and outdoor living.

    See the rest of the story at Business Insider

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    One 57 Crane

    The crane that has been dangling over Midtown Manhattan since Monday's Hurricane Sandy will officially be taken down tomorrow, according to The Wall Street Journal

    Sandy's gusts of wind had toppled the crane off the glitzy One57 building, which is still under construction. Earlier this year, the building's penthouse sold for $90 million

    The surrounding area was evacuated as a precaution to shield people from the crane, which has been hanging 1,000 feet in the air. 

    According to The WSJ:

    The plan calls for a worker to rotate the entire crane using a small hand crank, turning the damaged boom toward the building. Then cables would be used to secure the boom to 10- to 12-foot steel arms installed near the top of the condominium tower on West 57th Street.

    Now tour the One57 building >

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    little hawkins island georgia $20 million

    A beautiful home on an isle in Georgia is on sale for $20 million.

    The private isle spans three acres, and features four cottages, totaling 22,000 square feet. 

    The home is in Georgia's Golden Isles off of Sea Island. 

    Welcome to Little Hawkins Island.

    The home is only accessed by land across a gated 110-foot concrete bridge.

    We love the chandeliers in the dining room.

    See the rest of the story at Business Insider

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    324 west 15th street

    Hurricane Sandy left most of lower Manhattan with out power for nearly a week, but that didn't stop some cutthroat New Yorkers from apartment hunting.

    One buyer in-particular purchased a townhouse on West 15th Street last week for $6.95 million, despite that the home was powerless, according to the Olshan Realty's Luxury Market report.

    The 19-foot-wide townhouse was originally on the market for $7.9 million, when it was listed in January.

    The townhouse was the No.1 sale last week. Unsurprisingly, overall Hurricane Sandy affected sales negatively last week. Just five contracts were signed.

    The two previous weeks were blockbuster ones in New York. 

    olshasn realty market report

    DON'T MISS: See Why Buyers Are Going Crazy For The New Gramercy Park Luxury Apartments

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    house, mansion, home

    What's missing from your current home? Storage space? Decent parking? Privacy?

    Chances are, you might not have noticed these missing features when you and your home were in the honeymoon phase. But, sometime in the first few months, that deficiency became glaringly obvious.

    When you tour a home, it's normal to get so caught up in the granite kitchen countertops that you might not notice there's insufficient square footage to butter your morning toast. And while that master bedroom looks stylish and neat, you don't realize that it's the size of a postage stamp.

    Sometimes, there's a fix. You can downsize the bedroom furniture. You can install shelving or buy bookcases to add storage. And for privacy, you can put up curtains or a fence.

    And sometimes you just have to learn to live with it. Or vow that next time around, you won't make the same mistake.

    Read on for six make-or-break features for your next home.

    More than enough storage

    No one ever walked out of an open house thinking, "Nice place, but too many closets." On the other hand, a good staging job can disguise that a home has precious little storage.

    This is where it pays to use your X-ray eyes. Visually strip away the furniture in a for-sale home and place your furniture and belongings. Or simply measure -- both the rooms and the closets -- and compare it to what you have now, says Eric Tyson, author of "Home Buying for Dummies."

    Ditto for kitchen cupboards, pantries and counter space, says Michael Corbett, author of "Before You Buy." Those countertops may look spacious until you get out all of your kitchen toys and discover there's not enough room, he says. Really look at a kitchen in terms of what you need when you cook to make sure the home offers the counter space you need.


    An easy commute

    You're only 15 miles from work. How long is that in traffic time? That daily commute factor is "a really big one that a surprising number of people don't properly research before they commit to a house," Tyson says. He advises trying the commute a few times, driving both ways, before you buy.

    "If you wait until you move, it's kind of too late," Tyson says. "You're stuck with the house at that point." Instead, "do the actual commute during the actual time of day -- to and from -- that you'd be doing," he says. And talk to people with similar commutes. You may discover that it ebbs and flows at various times of the year.

    Some buyers shop for homes where "commute" doesn't automatically mean "car," says Ron Phipps, immediate past president of the National Association of Realtors and principal broker with Phipps Realty in Warwick, R.I.


    "We're seeing a lot more urbanization and a lot more people moving toward public transportation links," he says. One college professor wanted a home that was a comfortable walking distance from campus, he adds. "Five years ago, that wouldn't have been a priority."

    A neighborhood that suits your lifestyle

    It could be the Saturday night party house, the guy who believes Sundays were made for leaf blowing or the kid who practices the tuba 24/7. Every neighborhood has its eccentrics, and you need to know if you can live with them.

    One of the best ways to find out what's going on in the neighborhood is to chat up the neighbors, Corbett says. "You must find out if there are any existing neighborhood problems."

    From the minor issues (such as one neighbor's casual mechanic "shop") to the major (a string of crimes in the area), you want to know the concerns of the people who live there. "It's really about asking questions upfront," Corbett says. Ask the seller, and do your own research, too.

    One smart move is to visit during morning rush hour, afternoon and evening rush hour, adds Corbett.

    One prospective buyer who planned to work from home even toured a home with a phone app that measures ambient noise, Phipps says. The place was quiet, "so it wasn't a problem," he says.


    See the rest of the story at Business Insider

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    donald trump doral golf resort and spa

    Donald Trump says he's bullish on the South Florida real estate market right now, which is why he bought Miami's Doral Gable Golf Resort out of bankruptcy for $170 million in February.

    He plans to spend another $200 million renovating the resort, which has five golf courses and 700 rooms.

    Trump dished on his plans to The Real Deal:

    Trump told The Real Deal:

    We’re really looking to make Doral into the finest club anywhere in the United States and beyond, because we have 800 acres right smack in the middle of Miami, right next to the airport ... The location is so amazing, and that’s why the [PGA] tour loves Doral. So I’m going to be spending a lot of money on rebuilding Doral and making it something that will be, when we finish it, one of the finest golf resorts anywhere. Easily."

    Trump was also positive about the hotel market in Miami more generally, telling The Real Deal, "South America is booming, and the boom is coming to Miami."

    Now tour the Coral Gable Golf Resort Trump purchased earlier this year >

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    laughing couple, couple in a park

    It's not unusual for people to find love at work. But apparently real estate agents have it the easiest. 

    Because most real estate agents jobs are contract positions, most firms have no strict rules against dating clients or co-workers, according to The Real Deal.

    City Connections CEO David Schlamm, who met his wife, Jill, when she called his office in 1990 looking for a rental apartment, told The Real Deal:

    “Being a real estate agent is a great way to meet your significant other. ... I tell the brokers here never to mix business and pleasure. And if you are going to go on a date, to do it after business has been completed."

    DON'T MISS: Some Real Estate Agents Will Go To Crazy Extremes To Sell A House

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    hurricane sandy financial district

    While SoPo is largely no more, some Manhattanites are still without power and homeless.

    A number of residential buildings in the Financial District and on the East Side are still unlivable because their electrical and heating systems were badly damaged in Hurricane Sandy's storm surges, according to The New York Times.

    Some buildings are telling residents it may be anywhere from two weeks to 90 days before they can return. Rumor has it some buildings are even letting residents break their leases.

    Here's the status of buildings we know about:

    • 125 Maiden Lane: It may be months before it reopens, a disaster recovery official told The New York Times. The office building needs need new transformers, boilers and other equipment. 

    • 200 Water Street: The building's management is currently telling residents it may be another two weeks before it opens, and advises residents to find temporary housing. 

    • 2 Gold Street: This building has contaminated fuel in the basement, therefore leaving it unlivable. The doorman and residents have been told it may be more than a month before they can return. The city still has a vacate order on the building, but residents are allowed to enter the 51-story building for the next 48 hours and carry down as much as they can. 

    • 10 Hanover: "Is not habitable at this time" and does not have power. There's no time table on this building yet.

    • 75 WallPower should go on Tuesday, but heat and hot water is not expected until the weekend. 

    • 401 E. 34th Street: Rivergate remains uninhabitable, according to the Department of Buildings, and is without power.

    • 90 Washington Street: This building was just dried out today. The building staff is currently accessing the damages. Once those damages are repaired, Con Edison can turn on the power. They gave residents no time table of when they can return, according to a forwarded email from one BI tipster.

    Know of the status of any other buildings in Manhattan? Send an email to mgalante@businessinsider.con and we will add them to the list.

    DON'T MISS: In New Jersey, You're Lucky If Gas Lines And Power Outages Are Your Worst Problem

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    One Cornwall Terrace $160 million london

    London's One Cornwall Terrace has hit the market for $160 million, according to the International Business Times.

    The mansion is named after King George IV, who was originally the Duke Of Cornwall.

    The home was built in the 1820s, and spans 21,500 square feet. The house has seven bedrooms, nine bathrooms, and 11 reception rooms.

    Cornwall mansion is just one of eight homes on the property. The home has been classified a landmark, so the new owners can't tear it down.

    At that price, you might imagine it's the priciest pad in Great Britain, but it actually falls short of a London townhouse that hit the market for an insane $484 million in September.

    Welcome to Cornwall Mansion.

    The home is one of the most expensive in the world.

    A New Zealand diplomat used to live here.

    See the rest of the story at Business Insider

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    John McPheters founder of CLDmkt williamsburg apartment

    John McPheters has lived in New York City all of his life.

    But McPheters, an entrepreneur and the founder of social selling company CLDmkt, needed a bit more space to relax, so he decided to venture to Williamsburg.

    McPheters spends most of his time at home, when he's not traveling for CLDmkt, which he describes as "if Twitter and Craiglist had a baby." CLDmkt, which is currently in a soft-launch phase, lets users tweet photos and descriptions of products they want to buy or sell. Products are then aggregated to the company's site.

    McPheters has been in 15 countries this year, but recently settled into his Williamsburg duplex penthouse, which a friend used to rent. The bachelor pad is a 2-bedroom, 2-bathroom abode.

    McPheters commissioned Ashlina Kaposta, known as The Decorista, to help decorate his place. He said he doesn't do much home entertaining, and mainly uses the apartment to listen to music, work in his home office, and catch up on sleep between international flights.

    Welcome to McPheters' apartment complex in Williamsburg.

    Once he moved in, McPheters did some minor cosmetic updates to the place.

    The light and the storage were the two biggest selling factors for McPheters.

    See the rest of the story at Business Insider

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