November 12 NYTtimes article on Soho AIR rules

30 years had a great perspective on AIR buildings. He doesn't post so much any more (our loss), but you may be able to search for past comments. I think the main issue is financing, because even for all-cash buyers, the lack of financing makes a purchase much less fungible and therefore less valuable.

Wow I would think current sellers in Soho have to be pretty rattled by the publicity on the issue this article will create. Many sellers and broekrs try to make this seem as it is no big deal at all but as this article shows...that might not be the case.

It truly used to be no big deal.. enforcement was pretty lax. It is indeed now being stepped up, and no one is quite sure why. I heard a recent story of buyers who had no problems purchasing and then were nailed by the city when they filed their renovation plans.

Really surprised that the Times didn't interview Margaret Baisley, a downtown lawyer who I would consider the numero uno expert on this.

ali r.
DG Neary Realty

f_p- So what happened when the city found out. Do they force them to sell or what?

Went around some Soho properties for sale this past weekend...to say sellers are in a bit of panic mode would be a major understatement.

Heat, in the past the city -- I think it's the department of cultural affairs -- would write a threatening letter, and the residents would scamper to their lawyer -- but there just weren't that many complaints served in any given year. Climate change will certainly help the new condos, like Soho Mews and One York, b/c it just won't be an issue.

ali r.
DG Neary Realty