Just how bad is the condo situation in New York? Right to the City-New York, an alliance of grassroots community organizations, has identified a total of 601 condominium buildings in a half dozen neighborhoods in New York City that have either stopped construction or have a great deal of vacant units. That number is a lot higher than the 454 recorded by the Department of Buildings for the city as a whole.

Members of Right to the City went through six neighborhoods in Manhattan and Brooklyn finding buildings that aren't being fully utilized in order to show the city how big the problem is. Over the summer the city began a $20 million pilot program called the Housing Asset Renewal Program in order to turn residential buildings into as many as 400 affordable housing units. Among the buildings that Right to the City identified are Be@Schermerhorn, a 246-unit luxury condo, with a vacancy rate of more than 93 percent, and Forté, a 108-unit luxury condo, with a vacancy rate of more than 60 percent. Both buildings have been on the market for at least a year and Forté was recently taken over by its lender Eurohypo bank.

As Crains New York points out, it's not quite clear how many developers might want to participate in the Housing Asset Renewal Program in order to help finish their stalled projects. Many may prefer to simply wait out the current economic doldrums and begin building again when the market picks up.

The big numbers and grand auction centers around the world remain under pressure, but small local art scenes are finding ways to thrive. Like the small cap stocks that lead financial markets out of a recession, maybe it's the emerging artist and local art scene that will deliver us from this slump.

Grand Rapids hosted ArtPrize, a new art show this year, and it was so successful that the organizers are going to do it again in 2010. Businesses in town got a bump, and Grand Rapids was able to boost its cred as an art destination. The 18-day competition commenced on September 23, 2009 and drew tens of thousands of visitors to the Michigan city. Some restaurants ran out of food, because they weren't expecting such a large influx of guests. Doug Small, president of the Grand Rapids/Kent County Convention and Visitors Bureau, told The Associated Press, "Nobody had any clue this would happen."

The competition attracted 1,262 entries, varying in size, shape, style and medium. They were displayed in lobbies, on bridges, in parking lots and in the Grand River -- anywhere in town where they could find a place to exhibit. The winners were chosen by the voting public, using the event's website and text messaging, with 37,264 people participating.

The winner was Ryan Ortner of Brooklyn, New York, with the oil painting "Open Water No. 24, measuring 19 feet wide, taking first place, with Tracy Van Duinen taking second and Eric Daigh coming in third. Ortner lent his painting to the Grand Rapids Art Museum, which is going to display it until January.

Condo developers and car manufacturers have a shared problem, slow sales in a sluggish economy. And so more condominium developers are looking at throwing in a free car. NBC New York reports that the 449-unit One Brooklyn Bridge Park on the outskirts of Brooklyn Heights have gotten a little edgy after seeing their building only 30 percent full after a couple of years. To lure buyers, the developers are offering a free 2010 Audi A4 to the next 10 people who buy a unit worth $2 million or more by Sept. 30. The bigger lure is actually the free parking spot which could be worth $150,000 but having a shiny new car to park in it is nice too. The A4 isn't as attention getting as a Bentley or a Porsche but it might get some shoppers in the door.

The former printing factory offers units with high ceilings, large windows, kitchens with Bosch appliances and bathrooms with glass showers and separate soaking tubs. Amenities include concierge and doorman service, a children's play area, billiards room, virtual golf area, bike room, meeting rooms, fitness studio and more.

New York artist and gallery darling Dash Snow died Tuesday at the age of 27: heroin was the culprit. The hot artist's work lives on at the Saatchi Gallery in London, where his project "Abstract America: New Painting and Sculpture" is on display. His work has also been shown in Gagosian Gallery, Deitch Projects and is held in permanent collections at the Whitney and Brooklyn Museum.

Snow has worked in graffiti, photography and even his own semen. Though he has famous roots (Uma Thurman's his aunt), Snow preferred a gritty life on the Lower East Side involving theft, jail time and the narcotic that caused his demise. The world has lost a creative force – but one that was destructive at the same time.

If the Brooklyn Philharmonic Symphony Orchestra was on your calendar ... well, it isn't any more. There will be no more concerts this season. The entire 2009/10 season has been canceled. But, there is hope for 2011.

April 17, 2009, it seems, is the day the music died. Cause of death: budgetary shortfall from a drop in donations.

J. Barclay Collins II, chairman of the Brooklyn Philharmonic's board, won't reveal exactly how far donations have fallen, but the results are clearly shy of the organization's $3 million annual budget. He did say, however, that he expects the music to return in 2011. Fortunately, it's only the concerts that have been canceled. The Brooklyn Philharmonic will still operate its educational programs – at a cost of approximately $750,000 a year.

The decision to suspend the concerts comes following two years of financial difficulty. For its fiscal year ending June 30, 2007 (the last for which financial information is available), the group had a deficit of $121,925. A full-time staff of 23 people has been slashed by 70 percent.

Magic Johnson has become the latest celebrity to be affected by bankruptcy. It's not his personal holdings that are in trouble but one of this investments, the 110 Green St. Development LLC, the developer behind the Viridian condo project in Brooklyn, NY. The developer is seeking Chapter 11 bankruptcy protection and is converting the condos into rental units instead to keep pace with the changing New York City real estate market.

The Canyon-Johnson Urban Fund, a private real estate fund focused on urban properties, gave the development $12.3 million in mezzanine financing. 110 Green St. Development also has a loan of $35.75 million from the Bank of New York. Curbed reports that the entire building is being shopped around to investors for $65 million.

Hersha Hospitality, the company behind the recently opened Duane Street Hotel in Tribeca, New York City, is now taking on Brooklyn. The Nu Hotel is billed as Downtown Brooklyn's first boutique hotel. The 93-room, newly built hotel was designed by Datumzero Design Office and has guest rooms in three styles, the Nu Standard, the Nu Friends Suite, and the Nu Urban Suite. The Nu Friends Suites are equipped with bunk beds and modular furniture and Nu Urban Suites feature a cozy bed niche with leather surroundings, a sitting area and custom hammocks. Rooms have cork flooring, organic bedding materials and custom furnishings crafted from FSC- certified, sustainably harvested teak wood. Rooms also include 32" flat-screen televisions with "jack packs" to dock audio, video and computer electronics and complementary wifi access. The bathrooms have stone and glass showers, rain head showers, Aveda bath products and chalkboard walls where guests can jot notes for housekeeping, travel companions or themselves.

The hotel also includes Nu Bar, the hotel's cafe/lounge and the Nu Gym as well as bike storage and bicycle use service. The lobby, like many these days, is designed for lingering with a business center, custom concierge service and the "library nook" which offers a comfortable place to hang out. Rates begin at $200 per night.

Celebrity couple Paul Bettany and Jennifer Connelly are the latest to say bye bye Brooklyn and head to a posher address. Curbed reports that the pair have picked up a Tribeca penthouse that was listed at $6.995 million. Their new home is rather modern and bright, a far cry from their old home in Brooklyn. The nine-bedrom home on Prospect Park West is a turn-of-the-century limestone dowager. The home on a corner is full of the details you'd expect in a home of the time period, elaborate, polished wood carvings, plaster ceiling details and herringbone wood floors. There are fireplaces in the living room, dining room and kitchen as well as in three bedrooms. The servant's quarters on the top floor includes four small bedrooms, a full bath and a storage area. It has ben updated with central air and there is a large garden in the back of the house. There are no kitchen pictures and I do wonder if three and a half baths is enough for a home that is over 5,000 square feet and has nine bedrooms. Also if the furnishings in the Brooklyn house belong to the couple I think I can see why they want to move, Calder mobiles and flokati rugs don't quite suit this home. Curbed reports that the couple bought in 2003 for $3.7 million and are now listing for $8.5 million through Sotheby's.

For the next couple of weeks we will be checking out some homes in the most expensive zip codes in the United States, up today, 11201. This zip code in Brooklyn, New York has a median price of $2,463,000 with an appreciation rate of 325% since 1990. This area offers easy access to the city and the long history of the area means that there are many old brick and stone row houses and many picturesque streets lined with brownstones.

The home I have chosen for this zip code is in the area of Cobble Hill. Cobble Hill is a mix of Brooklyn's past along with trendy new shops and restaurants. The tree-lined neighborhoods are home to many older homes including this restored 19th Century landmark home. The double property includes an 1833 Greek Revival townhouse and a carriage house with parking. The main residence is located on a block of older townhouses. The carriage house, on the north side of the property is reached through the garden and opens onto a mews, lined with former stables and carriage houses bordering Cobble Hill Park.

The home has a wide double entry hall, large front and rear parlors with 12-foot ceilings, a butler's pantry and a sitting room. The home has been completely renovated but some of the charming architectural details from the home's history remain including the marble fireplace mantles. A rear staircase leads to the garden level family rooms and huge cook's kitchen.The third floor master suite has abedroom and bath overlooking gardens, a study and two large dressing rooms. The fourth floor is home to another double suite with a a bath and central dressing area, laundry and storage areas, and a smaller bedroom. On the fifth floor there is a skylit loft-like attic with four rooms. This home is listed at $7.875 million.

Designed by Kevin Williams for the Brooklyn design house CAKE, the Node bowl is just as happy in your kitchen as it is being displayed as a simple sculpture. And call me practical, but it actually looks like a great place to keep fruits and vegetables, because I like a bowl stacked high and the spaces will let the pieces on the bottom breathe. But of course filling it up interferes with the "light and shadow effect" the artist was going for, so maybe just one or two pieces, like in the photo, would be better. Anyway, it's made of ceramic, and is available in white only. Measures 3.5"D x 11.75"Diam, $50.

This loft penthouse is in The Clocktower in Brooklyn, New York offers you the unique opportunity to have a bridge take up most of your window. The three-bedroom loft has 3,200 square feet of space. A keyed elevator opens directly into the loft which has a large living room, large galley kitchen, high ceilings and plenty of windows. The building has a concierge service and a roof deck. It is listed at $8.6 million. After the jump, Christmas in March.

We mentioned recently that Heath Ledger had put his Australian house on the market, now he has chosen a home in Boerum Hill, Brooklyn. His  $4.7 million home is a 150-year-old house with four floors, a three-car garage and a ground-floor tenant. Ledger and Michelle Williams had been renting a smaller home nearby. Ledger finds Brooklyn a little less paparazzi-heavy than Sydney and according to The Daily Telegraph he's a big hit with the neighbors.

[via Gawker and Brownstoner]