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Eight Feet Jolted a $180M Real Estate Deal

nytimes.com

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Re: Eight Feet Jolted a $180M Real Estate Deal

#111
post #55

Earlier quoted context omitted.

Typically, covenants are meant to cover issues more locally than zoning could, like a permanent easement for the benefit of an adjoining property or setbacks for all the properties on one street to achieve a particular aesthetic. You could make them zoning laws, but they would be rather complex and have to refer to particular parcels. They can be removed, but typically you have to prove that removing the covenant isn…

you can also invalidate a convenant through laws. a good portion of the US has racial covenants saying what properties can be sold to whom, but none of those have been legal or legally enforceable since the Fair Housing Act. https://www.alta.org/advocacy/housing-opportunities/discrimi...

Good point. Another famous example are the "entails" that many inherited estates in Britain had at one time (and a major plot point in the show Downton Abbey).

Re: Eight Feet Jolted a $180M Real Estate Deal

#112

Earlier quoted context omitted.

If the covenant was added by a dead guy and the counterparty doesn't exist but now it's enforced by a government court against the wishes of the property owner who owns the 'right' is it really property rights at that point? I'm willing to be convinced but it's not super clear to me.

It's a property right for whoever would benefit. If no one benefits, then who is enforcing it? The gov't doesn't do so voluntarily, covenants are enforced through the civil court system.

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Re: Eight Feet Jolted a $180M Real Estate Deal

#113
post #64

Earlier quoted context omitted.

> Ensuring some minimal level of architectural consistency on a dense city block is a good thing. Check zillow. Of the 32 units for rent in Brooklyn Heights, the cheapest is a tiny $2,600/month studio. The median rent is $4,500/month, and that's for an apartment with one bedroom and one bathroom. No, I don't think allowing a 200 year old private rule to reduce living space in an age of incredible housing scarcity is…

"sleeping on the streets" and "living in Brooklyn Heights" are hardly the only two options here.

No snowflake in an avalanche ever feels responsible.

Re: Eight Feet Jolted a $180M Real Estate Deal

#114

Earlier quoted context omitted.

But it is anti property rights to force someone to rent or sell to poc. Of course without government influence this becomes a dumb business plan because it depressed the utility of your property and hands business to competitors. I would argue government should eliminate racial discrimination laws as it will just shake itself out in the market and it actually makes things harder on poc.

>I would argue government should eliminate racial discrimination laws as it will just shake itself out in the market and it actually makes things harder on poc. Yeah, many people did, and then it turned out that it wasn't working!

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