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The Washington Post looks at sellers are dealing with the fizzling NYC housing market:

"I count 40-plus construction projects in my neighborhood alone," says Nouriel Roubini, a professor of economics at New York University's Stern School of Business who lives in Tribeca. "There's going to be a huge glut in six months here in New York, well above the national average. And unless you see a huge increase in hiring in the financial industry -- and that is not going to happen -- you have to wonder, who is going to buy all these units?"

One apparent answer: fans of Jade Jagger. Mick's daughter, a designer and pioneer of something called "pod living," created the combination kitchen-bathroom modules that sit in the center of the apartments on sale at Jade, a building in Chelsea. To the uninitiated, the pods look like something from the motor home of the future. But the owners calls them "jewel-like lacquered boxes that seem to float in each residence."

One-bedrooms start at $945,000.

Posted by edelfenbein at November 1, 2006 2:23 PM