Union Plans to Leverage Booming Real-Estate Market to get Better Deal
By
Feb. 26, 2014 9:20 p.m. ET
Carl Alfieri on the job Wednesday at 10 Hanover Square. Adrienne Grunwald for The Wall Street Journal
The union representing the city’s 30,000 doormen, superintendents and porters plans to leverage New York’s booming real-estate market to get a better deal than it did last time from landlords when it opens contract negotiations Thursday. [WSJ]
399 Grand St.
A big topic of conversation on Grand Street these days is the future of the former Noah’s Ark Deli space. The restaurant, the last full-service kosher establishment on the Lower East Side, closed last year, as its owners faced eviction proceedings from their landlord, the Seward Park Cooperative. On March 11, the co-op board will weigh whether to sign off on a new kosher spot in the storefront, located at 399 Grand St. Yesterday, we spoke with the team behind the proposal. [Lo-Down]
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The Markets. Rates rose moderately for the second straight week. Freddie Mac announced that for the week ending February 20, 30-year fixed rates increased to 4.33% from 4.28% the week before. The average for 15-year loans was up slightly to 3.35%. Adjustable rates rose slightly as well with the average for one-year adjustables rising to 2.57% and five-year adjustables increasing to 3.08%. A year ago 30-year fixed rates were at 3.56%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans crept up further following the uptick in the 10-year Treasury yield as minutes of the Federal Reserve’s last meeting indicated little possibility of a pause in the central bank’s reduction of bond purchases. Housing starts in January fell 16 percent to a seasonally adjusted annual rate of 888,000 units, below consensus forecast. Permits were at a seasonally adjusted annual rate of 937,000 in January, also below consensus.” Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Current Indices For Adjustable Rate Mortgages
Updated February 21, 2014
| Daily Value | Monthly Value | |
| Feb 20 | January | |
| 6-month Treasury Security | 0.08% | 0.07% |
| 1-year Treasury Security | 0.12% | 0.12% |
| 3-year Treasury Security | 0.72% | 0.78% |
| 5-year Treasury Security | 1.57% | 1.65% |
| 10-year Treasury Security | 2.76% | 2.86% |
| 12-month LIBOR | 0.575% (Jan) | |
| 12-month MTA | 0.129% (Jan) | |
| 11th District Cost of Funds | 0.784% (Dec) | |
| Prime Rate | 3.25% |
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Grab a friend or date and get your sugar fix at one of these decadent NYC spots, where dessert is an event in and of itself. [Zagat]
As residents of Seward Park and the Lower East Side, we urge the Board of Directors to bring in a Kosher restaurant as a commercial tenant of the Seward Park Co-op. A Kosher meat restaurant is vitally important to observant Jewish communities such as this one since it serves as a place for community to gather and socialize around food, and also acts as a cultural center that needs our support to continue to thrive in a growing neighborhood. A Kosher restaurant will dramatically improve the quality of life for Kosher observing residents, but will also draw patrons from the many diverse populations of the Lower East Side.
Further, there are many elderly Seward Park residents who are unable to walk a long distance, having a kosher restaurant will enable them to have a fresh meal every day.
Diversity is an important part of why we love the Lower East Side and we encourage the board of Seward Park to help maintain culinary diversity in the neighborhood by bringing a new Kosher restaurant to Seward Park Co-op.
Sign the Petition here
Thank you.
The Markets. Rates were stable in the past week, holding near lower levels after dropping over the past month. Freddie Mac announced that for the week ending February 13, 30-year fixed rates increased to 4.28% from 4.23% the week before. The average for 15-year loans remained at 3.33%. Adjustable rates were mixed as well with the average for one-year adjustables rising to 2.55% and five-year adjustables slipping to 3.05%. A year ago 30-year fixed rates were at 3.53%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans were little changed amid a week of light economic reports. Of the few releases, the economy added 113,000 jobs in January, which was below the market consensus forecast and followed a slight upward revision of 1,000 jobs in December. Meanwhile, the unemployment rate fell to 6.6 percent, which makes thirteen consecutive months without an increase.” Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Current Indices For Adjustable Rate Mortgages
Updated February 14, 2014
| Daily Value | Monthly Value | |
| Feb 13 | January | |
| 6-month Treasury Security | 0.08% | 0.07% |
| 1-year Treasury Security | 0.12% | 0.12% |
| 3-year Treasury Security | 0.70% | 0.78% |
| 5-year Treasury Security | 1.51% | 1.65% |
| 10-year Treasury Security | 2.73% | 2.86% |
| 12-month LIBOR | 0.575% (Jan) | |
| 12-month MTA | 0.129% (Jan) | |
| 11th District Cost of Funds | 0.784% (Dec) | |
| Prime Rate | 3.25% |
For décor-minded men frustrated by the feminine world of interiors, a new website called Trnk shows the way—and the buys
By
ROUGHING IT | Among the male-friendly spaces showcased on Trnk is this Portland, Ore., living room belonging to Matt Pierce, who runs Wood & Faulk, a line of home and fashion accessories. Trnk
STRAIGHT MEN HAVE a terrible reputation when it comes to décor. It’s assumed that they’re either indifferent—living amid cruel amounts of chintz in a “whatever you want, honey” way—or energetically tasteless, as evidenced by their infamous man caves. In the 2012 Man Cave of the Year, chosen by ManCaveSite.org, a suit of armor coexists with plastic toy cars, British pub paraphernalia and a red fire hydrant. It appears to have been decorated by someone who may not be the sharpest Swiss Army knife in the drawer.
Dispelling such stereotypes is one of the goals of Trnk (trnk-nyc.com), an upstart new website that, according to co-founder Tariq Dixon, 27, “explores broader notions of what the male living space can be.” [WSJ]
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