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Flagship Stores Have a Serious Problem

Even Barneys New York is looking at possible bankruptcy

(Newser) - It used to be considered the retailer's crown jewel—a large format store on a swank corridor that showed off the best of what a brand had to offer. But now the so-called flagship store is disappearing from high-profile shopping thoroughfares like Manhattan's Madison Avenue and Chicago's... More »

In Los Angeles, a 'Disaster of Epic Proportions'

Spike in homelessness tied to increasing rents, lack of affordable housing

(Newser) - Despite $619 million spent to end homelessness around Los Angeles in 2018, the situation only got worse. Over the last year, the number of people living on the streets, in vehicles, or in shelters rose 12%, to just under 59,000 in Los Angeles County, and climbed 16% to 36,... More »

She Died at 84. Then People Found Out About Her NYC Rent

Late actress Patricia O'Grady was forking over $28.43 a month for Greenwich Village apartment

(Newser) - The subject of rent control has prompted some big headlines over the past few years, but one out of Manhattan will likely cause fellow city dwellers' jaws to drop. A New York Times obituary notes that in March, 84-year-old Patricia O'Grady was hit by a car near her Greenwich... More »

Startup Gets Renters Into Chi-Chi SF Apartments Cheap

By putting one person in a bedroom made from the living room

(Newser) - If $1,125 sounds like a steal for a San Francisco apartment rental, it is—but you get what you pay for. Business Insider reports on the "real-estate bliss" being offered to the city's "desperate renters" by startup HomeShare , which has since 2016 leased apartments in luxury... More »

SF Man Has to Stop Living in Box in Friend's Living Room

Peter Berkowitz's brilliant $400 rent idea was an illegal one

(Newser) - It seemed brilliant, so long as you're not claustrophobic: In early March, Peter Berkowitz armed himself with a few friends and a few tools and built a 32-square-foot wooden box, euphemistically referred to as a "bedroom pod," and placed it in a friend's living room. With... More »

These NYC Apartments Offer Little Privacy, Free Beer

WeLive communal spaces available for $1,375 monthly

(Newser) - Sleeping behind a curtain in Manhattan is now as affordable as $1,375 per month. The WeWork team known for communal work spaces has just launched a building of communal living spaces in New York City's Financial District where rent starts at $1,375 monthly. That price will get... More »

Anonymous Donor Covers Entire Complex's Rent

That's a 38-unit, $25K tab

(Newser) - The days before Christmas are typically replete with stories of extreme generosity—like those annual tales of huge Salvation Army kettle donations —but as for what happened in Newpark, Utah, well, "I have never seen anything of this magnitude in the 10 years that I have been doing... More »

SF's Rent Just Got Even More Ridiculous

Median price for a 1-bedroom unit reaches $3,620 per month

(Newser) - You think rent prices are bad in your area? You really shouldn't complain, unless you live in San Francisco. There, a one-bedroom apartment rents for a median price of $3,620 per month—up 13% since last year and $90 since last month—making San Francisco the most US... More »

Engineer: I Dodged SF Rent, Live in Spider-Filled Van

Rents too damn high, send female software engineer to live in camper

(Newser) - Katharine Patterson has to be very quiet when she's typing at night. Not because she's afraid of disturbing a sleeping spouse or baby, but because she doesn't want anyone in her San Francisco Bay neighborhood to hear sounds coming from inside the van where she lives. In... More »

Brooklyn Deli Puts Its Window Display on Airbnb

The owner is facing a proposed rent hike from $4K to $10K

(Newser) - Fed up with the disappearance of many mom-and-pop shops on Atlantic Avenue in Brooklyn, two regular customers of Jesse's Deli, a bodega run by Jesse Itayim, are trying to help this one stay. After learning that the shop might have to move now that the landlord is trying to... More »

New York's Priciest Rental: $165K a Month

Astor Suite at the Plaza is now on the market

(Newser) - New York's most expensive rental is now available, and it's a steal at $165,000—some $15,000 more than the runner-up. The 5,087-square-foot Astor Suite at the Plaza boasts three bedrooms, five bathrooms, and a library, not to mention a separate apartment for guests. The suite... More »

How One New Yorker Lives in 90 Square Feet

Felice Cohen makes every inch count in her tiny Manhattan apartment

(Newser) - Felice Cohen's Manhattan studio is all of 90 square feet, and she seems to have plenty of room for all the necessities. “I think a lot of people have a lot of space that they’re not using," she explains in a video from faircompanies . It also helps... More »

Obama Streaker Won't Score $1M, Will Go Rent-Free

Man gets 'consolation prize' for advertising website

(Newser) - The man who stripped to his sneakers and charged through a Philadelphia Obama rally won’t be getting the $1 million he expected—but he won’t have to worry about rent for 6 months, reports the Philadelphia Inquirer . The billionaire who commissioned the public nudity says streaker Juan Rodriguez... More »

Cost of Nancy Pelosi's New Office? $18K. Per Month.

It's almost double what the next biggest spender in the House pays

(Newser) - Speaker Nancy Pelosi has moved her district offices to a new building in San Francisco, to which she now pays $18,736 in monthly rent. The space is nearly a third larger, at quadruple the cost of the old office. The next highest monthly office rent for a member of... More »

Troubled Homeowners Try New Policy: Just Don't Pay

With 438 days before the average eviction, why bother?

(Newser) - Some homeowners in foreclosure are done with trying to wrangle loan modification from the banks. They've adopted a different policy: evict me if you dare. With more than 1.7 million households in foreclosure, it can take a long time for the courts to actually eject homeowners. Last year, the... More »

After 5 Quarters of Decline, Rent Just Went Up

Stabilizing prices might signal ravaged sector has found bottom

(Newser) - Rents crept up nationally in the first quarter, notching a 0.3% increase that ended five straight quarters of decline in a sector that's been particularly battered by the recession. The vacancy rate—closely linked to unemployment—held steady at 8%, while 60 of the 79 markets surveyed reported higher... More »

DC Office Prices About to Pass NY

Falling banks, rising government shifts real estate market

(Newser) - Washington, DC, is on the verge of passing New York as the priciest place to rent an office in the country. Rents were down pretty much across the board in the latest figures from Reis, a New York-based research firm, but DC saw only a mild 3% decline, to an... More »

Housing Market Woes Hit Home for Geithner

Treasury secretary can't sell, stuck renting out his NY home

(Newser) - Housing market troubles are getting personal for Tim Geithner, the AP reports. The Treasury secretary bought his five-bedroom suburban New York Tudor for $1.6 million in 2004; after moving to Washington, he tried to sell it for $1.635 million. The price later dropped to $1.575 million, but... More »

Starbucks Looks to Cut Back on Rent

Coffee chain presses landlords for 20%-25% reductions

(Newser) - Starbucks is asking some of its landlords for a venti favor: lower lease rates by as much as 25%, Bloomberg reports. With the real-estate market in decline, a rep says, “We’re taking advantage of the opportunity,” adding that most landlords foresee a “mutually beneficial situation.”... More »

NYC Charges Working Homeless Shelter Rent

(Newser) - New York City has quietly begun to enforce a 1997 state law requiring homeless shelter residents who have jobs to contribute to the cost of their temporary housing, the New York Times reports. The move, which follows a 2007 audit that forced the city to return funding to the state,... More »

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