Transfer Tax in SF Changes Tomorrow!

The San Francisco transfer tax is changing TOMORROW, December 17th.
The Transfer tax has INCREASED when a sale price is over $5,000,000.00
There is also an increase if a sale price is over $10,000,000.00.
The new rates are as follows:
More than $100, but less than or equal to $250K- $5/$1000.
More than $250K, but less than $1,000,000.00- $6.80/$1000.
$1,000,000.or more, but less thank $5,000,000.- $7.50/$1000
$5,000,000 or more but less than $10,000,000- $20/$1000
$10,000,000 or More – $25 or more.

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A REAL ART HOUSE by Leigh Remizowski, NY Daily News

A REAL ART HOUSE

Condos let artists set up free galleries

BY Leigh Remizowski
DAILY NEWS WRITER

Friday, September 17th 2010, 10:12 AM

IT’S THE next big thing in art galleries – empty luxury condos.

A Long Island City real estate firm is playing matchmaker between prospective homebuyers and local artists seeking patrons.

Modern Spaces NYC is offering up its vacant condominiums as gallery space for artists – boosting their exposure while sprucing up the hard-to-sell apartments.

“The marriage of art and real estate couldn’t be more right,” said Eric Benaim, president of Modern Spaces.

The firm takes no commission from the artists and gives them full reign to decorate the model units as they see fit. Then, the art-filled condos are used as venues for open houses.

“Every time we have done this, the artist has sold pieces,” Benaim said.

The paintings and etchings of Brooklyn artist Chris Mendoza are currently on display in a $1 million penthouse at Ten 63 Condominiums, a 41-unit complex on Jackson Ave.

“A lot of time in galleries, you get told what to do,” Mendoza said. “But here I was free to put the art where I wanted it.”

Even better, Modern Spaces is offering the person who ends up buying the three-bedroom penthouse a $1,000 credit toward Mendoza’s artwork.

“A lot of new buyers are changing their lifestyles by moving,” Benaim said. “Maybe their oil painting of fruit won’t work anymore.”

At the Powerhouse Condominium on 51st Ave., Modern Spaces dons the walls of its sales office with photographs by former Long Island City resident Eric Laverty.

Laverty was commissioned by the building’s developer to chronicle the transformation of the Long Island Rail Road power plant into a luxury apartment complex.

He took more than 17,000 photos, many of which have been purchased by residents of the building.

“It just made sense to show my photos there,” Laverty said.

Recently, Modern Spaces also opened up an empty, unfinished unit on the first floor of Ten 63 Condominiums to the international artists cooperative, We-Are-Familia, for a so-called “popup” gallery.

The gallery moves between unoccupied spaces around the world for short, weeks-long exhibits. Modern Spaces offered the Jackson Ave. location for free.

“It gets more people in to see their space and it helps us because we don’t use the traditional gallery,” said Jennifer Garcia, a founder of We-Are-Familia.

Garcia recently was hired by Modern Spaces to recruit artists for the agency.

Benaim said working with local artists is his way of giving back to the people who he believes made Long Island City what it is today.

“Development usually follows the artists,” he said. “These are the people who are bringing life to an area.”

Read more: http://www.nydailynews.com/ny_local/queens/2010/09/17/2010-09-17_a_real_art_house_condos_let_artists_set_up_free_galleries.html#ixzz16v9fZpdA

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ART NOT INCLUDED

Local Artists' Work Create Conversation Pieces at an Otherwise Vacant Home for Sale

In the peak of the market, houses seemed to be selling themselves.  Front doors opened and floods of buyers streamed in, and decided overnight, if they should write an offer or not.  Today, in one of the worst real estate markets in memory, agents jostle, juggle and position their properties to get the attention of too few buyers.  In San Francisco’s last downturn, I recall frequent flier miles, Jaguars and furniture thrown in to the price to entice a buyer.  Today, Listing Agents are paying Selling Agents higher commissions for bringing buyers to the table; lunches for agents on broker’s tour is commonplace.  Twilight tours by candlelight are hosted to draw traffic.  Wine and cheese parties have become ubiquitous.

I noticed that my artist friends couldn’t find galleries to show their work, and sales on discretionary items such as art, is down as well.  I started hosting art shows in empty homes to create interest for the house, act as staging and hopefully generate sales for the artists.  My friend Jennifer Davis was out visiting from New York and saw one of my art shows.  Shortly thereafter, this piece ran in the NY Daily News titled A Real Art House.  Enjoy!

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