Real LI

Looking to the future -- oh, say, about three years from now -- buyers seeking to purchase a condo built after 2010 in New York may face a taxing situation. Literally.

A bill, now in state legislature, has been proposed by Sen. Betty Little (R-Glens Falls) to put the breaks on the condo tax discount, which is about 40 percent less than a comparable house. The proposed bill would allow local governments to tax new condominiums built after 2010 just like any other home.

This is a hot topic, especially in Suffolk County where about 9 percent of the housing stock are condos. Find out who supports the bill and who is against it in Elizabeth Moore’s Newsday story.

When actor-comedian, Billy Crystal performed his one-man show, “700 Sundays,” on Broadway, a three-dimensional replica of the Long Beach house that he grew up in was used as the backdrop.

Well, it's been more than 28 Sundays since Newsday first reported that Crystal’s childhood home was on the market. Imagine that — even with a famous name attached to it, this two-family house — now priced at $625,000 — sits.

But it's not alone. Apparently, the city by the sea isn’t immune to market woes. “Houses are having a difficult time,” says Joyce Coletti of Prudential Douglas Elliman, who is marketing Crystal’s former home. What’s happening in Long Beach, Coletti adds, is that appropriately priced condos and co-ops are selling in about three months, while houses take a lot longer. We're talking as long as one year. And that’s no joke.

No word on whether Crystal's been back to visit the old neighborhood, but he was spotted in Douglaston, Queens last week at the bat mitzvah of a relative.

If you haven’t heard, Montauk's oceanfront getaway — the Panoramic View Hotel & Residence — is in its final season. The resort is in the process of being converted into luxury villas by Distinctive Ventures of Great Neck.

The new complex -- Panoramic Luxury Villas -- will have about 60 or so waterview villas ranging in size from 2,200 square feet to 4,300 square feet, with prices starting at $2.825 million. Amenities include 24/7 concierge service, an on-site caretaker, a fitness center, a beach attendant, an inground pool and more. These "smart" units will notify the staff if something is amiss -- say, for instance, heat isn't working properly.

And if an owner requires a helicopter or needs to have his or her bills paid while away, that can be arranged too, says Valerie Stone of Prudential Douglas Elliman Real Estate in Brookville, who is handling sales with Barbara Brundige.

Currently the villas are being treated as "condops," meaning they are structured like a cooperative but have the rules and regulations of a condominium. However, in October they will begin the process to convert to condominiums. Rentals will also be available.

Interested in a seasonal rental this summer? A two-bedroom unit can be fetched for $100,000, while larger units are going for $145,000 and $165,000, Stone said.

Laffey Associates in Greenvale recently celebrated the unofficial opening of its sales office for The Villa at Glen Cove, a planned 4-acre, 226-unit luxury condominium community surrounding Craft and Young avenues. Laffey is the exclusive listing agent for the Villa project. The sales office is located at 50 Glen St. in Glen Cove. Livingston Development Corp. will begin construction this fall on the $100 million project, which will adhere to “smart growth” principles. Prices will range from about $300,000 for a one-bedroom, one-bath condo to $800,000 for the three-bedroom, 2 ½-bath duplex with a private rooftop terrace.

Porn in a time of slow sales. Copyranter has been on a roll on this for months, but the most recent object of his wrath is the “sluttiness” of a fig-leafed couple promoting the assets of a Washington, D.C., condo development. Painted on the flower-power female figure is “full-bodied amenities” and on the male, “large units.” So what is being sold here? Sylph-like bodies trump cold cash and cellulite? And what is a full-bodied amenity, anyway? Appliances too big for a galley kitchen? Copyranter’s has a couple of other examples in Long Island City and Williamsburg, and the comments on them are good for a giggle.

That's what Daniel and Marilyn Bahr did when they bought this 2,400-square-foot, two-bedroom condo this month at the Vineyards at Moriches, after living in a 2,000-square-foot, three-bedroom house in Bellport for 15 years. They paid $461,000 for the residence. Local builders are heeding the call of the Bahrs and others, according to a report in Newsday. "Give them bigger units with more extras." Read on here.

Newsday photo / Jim Peppler

One reader at Country Pointe at Smithtown in Nesconset is pretty annoyed about this little item in his condo newsletter: Apparently his homeowners' association has asked its private security firm to play cop and start giving out tickets to drivers who go through stop signs. The members have "too much time" on their hands, says the resident.

Do you live in a condo? If so, what do you think?

Emmett Laffey, principal and chief executive officer of Century 21 Laffey, announced in a recent video e-mail that his firm now represents the Preserve at Woodbury. The Multiple Listing Service of Long Island listing for the 32-unit luxury townhouse-style condo development had been with Coldwell Banker. But when the listing expired, husband-and-wife Greenvale office agents Barry Paley and Deborah Paley and their manager Maria Babaev made a presentation to become the exclusive agents. "It was a very sought-after project, and competition was fierce," Laffey says in the video. They won the project. Across the street from the Crest Hollow Country Club, the Preserve now has 15 condos still for sale for " a combined value of more than $20 million," says Laffey.

The bad rap on Long Island is that there’s no affordable housing. Not true.

Think condo and two things may come to mind -- neighbors on the other side of the wall and restrictions set by homeowner associations.

But a three-bedroom condo on the market in Middle Island is a detached two-floor home with its own grounds, where one can probably put up a statue without condo cops coming around.

Audrey Brandt, an agent at Century 21 Rustic Realty in Coram, said some condo developments limit weight of pets allowed, bar statues in the front yard and allow only “cookie cutter” looks, but Strathmore on the Green is not one of them.

“It’s not the land of no,” she said.

Brandt said the house could be perfect for a golfer. The Spring Lake Golf Club is about a 20-minute walk away, but of course, there might be golfers addicted to the sport. "You cut through someone's back yard," she joked, "it would be even faster."

The house, which has a large back deck and doesn’t look its 17 years, is listed at $279,900. The monthly maintenance is $250.

Now condos and town houses are being built three stories high with elevators, according to today's Newsday. Still for Mitchell and Maria Kassman and their Jack Russell terrier, Freckles, there's a huge difference between the elevator at Mariner's Walk in Oyster Bay, where they're being a home, and the one in the Upper East Side high-rise where they expect to close on the sale of their 37th-floor apartment this month. "The elevator [in the city], to go to the 37th floor, is a little quicker than to go one floor [in Oyster Bay]," Mitchell Kassman says. "Boy, is it slow." Read more about his place and others here.

Newsday photo / John Griffin

Bachelor pads have changed since the Rat Pack days. Look at Rob DiMartino's Port Jefferson co-op, which he bought five years ago. DiMartino, a video producer for a Nesconset remodeler, has gone "tastefully understated" with his decor, writes Gary Dymski in his Newsday story about him and other Long Island guys. Read the full report -- including video -- by clicking here.

Newsday photo / Ken Spencer

Condo and co-op residents often aren't allowed into meetings and they think elections are controlled, says Long Beach resident Samuel Levine, former president of the Board of Judges for the District Court of Nassau County. So he's sent off a "bill of rights" for residents to State Attorney General Andrew Cuomo that addresses "secret meetings; the failure to protect the health of residents; improper contracts; and the lack of strong oversight," according to a Newsday article. Read more about it here.

Well, only if you can get the financial statements in order, as Williston Park resident Sam Paruchabutr, 30, a financial adviser at Merrill Lynch, struggled to do. Read all about his campaign to buy here.

Newsday has confirmed that retired New York Jets running back Curtis Martin is selling his two-bedroom, three-bath penthouse condo in the Wyndham development in Garden City.

The 3,500-square-foot luxury apartment has a living room with a fireplace, as well as a formal dining room, an eat-in-kitchen, a dining room with a fireplace and a balcony. The master bedroom has a bath with a Jacuzzi. The building has an indoor pool, a gym, concierge service and valet parking.

The price: $3.099 million. Annette Marinello of Century 21 Laffey in Manhasset has the listing, but declined to identify her client.

Martin has denied recent published reports that he planned to buy a $7 million waterfront penthouse in Brooklyn. The football superstar told The New York Times in September that it made no sense for him to buy more New York real estate if his dream of owning an NFL team ultimately took him out of the area.

Former Jets and New York Giants coach Bill Parcells used to live in the luxury development. Current residents include Nassau County Tax Assessor Harvey Levinson and former Hofstra University president James Shuart.

Curtis Martin: AP file photo

Today a resident of Country Pointe at Coram plans to file a complaint with the state Division of Human Rights regarding his Medford condominium complex's policy against residents displaying religious statuary in common areas. Read the story.

News today out of the Country Pointe at Coram complex, including a ban and now a call from the Catholic League to take action.

What role should an engineer play in a coop, condo or homeowner association? How can you use the political process to your community's favor? Why should your group get insurance? These are some of the topics that will be covered Saturday, Oct. 20 at the Long Island Chapter of the Community Associations Institute's 2007 Expo at the Huntington Hilton Hotel in Melville. The association is "dedicated to providing condominium, cooperative and association board members with education and networking opportunities." Cost is $7 for non-members. Call 631-882-8683 for information.