This is the skyline of East Village on Lafayette Street, just south of 8th Street. The blue glass building on the left is a new $5 - $12 million condo/coop building that sits on leased land. This is an interesting concept in residential real estate because the building does not own the land it sits on. At some point (way in the future), the lease on the land will expire and a new contract will have to be drawn up. How will that affect the prices of the apartments? Only the future can tell.So how was your weekend? Did you do anything fun?
