Daily News from New York, New York • 645

The Market tflfcMWI Mfclll a0gTTm-'- I IIIIMMllMMMMM MW MllJ neighborhood homes. JootD odd (Sjoaeoous HOMES offers this block of The difficulty of buying that first home is still the topic most discussed by a family trying to reach the goal of ownership. The down payment, the closing costs, the eventual mortgage payments must all be looked at in very realistic terms, and measured by what each family can truly afford. As an experimental place to see how that can be done, Homes, with 20 years of experience, is soon to open Club Ruby Estates, a model of affordability along with a service information center in Southeast Queens. The center and model development staffed by real estate professionals will help formulate" the various plans, and discuss the important financial issues that will impact each family's first step into home ownership.

According to a Cecelia Di- scribed. There are legal two-family homes being offered for $199,750. Construction financing for Ruby Estates was arranged by First Realty Funding Corp. through Columbia Savings Bank. And, an array of mortgage financing packages will be made available through First Realty financial consultants to explain how you can finance your purchase, build your own home or obtain home improvements.

There are also investor units available and zero closing costs. With the availability of over 100 types of financing plans, Homes feels confidant that Ruby Estate purchasers will be accomodated. For further information you can contact Cecelia De Luso at 718-525-6950 or mean any lack of quality. Rather, has always been mindful of cost efficency and durability with style in its entire product line. And she pointed out that "everything from color co-ordinated ceramic tile in the bathrooms to complete insulation with name-brand roofing material" would be a feature each homeowner would enjoy.

As well, Homes will sit down with you and your budget and discuss the interest rates and closing costs so that you will know what financing you will need to make in that first move into home ownership. It will offer all its customers a "unique and inexpensive finance package" which it hoped would make the first step into the American Dream of ho-meownership completely unlike the nightmare often de Most everywhere the resi dential market is lagging. But in the luxury condo market in Manhattan things are still hopping. The Zeckendorf Company this past week sold more than $8 million of space at its Central Park Place at Columbus Circle. And, as you might guess, this accounted for only three apartments.

The one of two penthouses, this on the 54th floor, went for $3.8 mil lion. But it had 360 degree views and 4V2 baths. The other, on the 56th floor went for only $3.1 million, but it had a 270-square-foot terrace. The third apartment, according to the spokesman for Zeckendorf, went 1.150 million. It was on the 35th floor.

The Market II According to the National Association of Realtors8 first-time home buyers lost mored purchasing power over the first quarter of this year due to rising mortgage interest rates. Honor Urstadt The International Real Estate Division of the Ju venile Diabetes Foundation will honor Charles Urstadt at its sixth annual Pyramid Ball on June 5 at The Plaza Hotel. Urstadt is now president of Ur stadt Property Company, Inc. and chairman of the board of HRE Properties, a real estate investment trust listed on the New York Stock Exchange. RSA Seminar The final seminar of the 1988-89 Seminar Series of the Rent Stabilization Association will be held June 6 from 9 a.m.

to 4 p.m. at Marriott Marquis, 45th St. and Broadway. It will center on the rent stabili-. zation code with an up- date on the procedural and pol icy changes.

A number of guest speakers will answer questions and a workbook containing the latest forms will be issued. For further information call 212-944-4734. Take Notes Items of interest to this column should be sent to: John Belmonte Real Estate Editor N.Y. Daily News 220 East 42 St. (7th floor editorial) New York, N.Y.

10017 Attention Realty Notes site 5 Luso, the model will be a "flagship" of the construction that the company can do on your site, or on any one of their own in Southeast Queens. The construction is Mortgage Rates The latest in mortgage rate figures appear on the Money Page 32. essentially a two-family, the spokesperson said. DiLuso added that Homes was committed to the word ''affordability" because of its intense impact on the nation, and because of the very competitive local market. She explained that the word affordability did not Towamensing Trails is skiing at Big Boulder and motor-boating at Lake Harmony.

To make the transition easy and affordable there is Pocono Builders Model Home Showcase with a fantastic line of models starting at $56,900. Your home is designed to create the lifestyle you are accustomed to. The price of $56,900 includes house and land and Towamensing Trails, in the Pocono Mountains, is the community that can start you seeing a bright new future, according to a spokesman for the developer. The communityand the four seasons of activities and social entertainment it offers is perfect for that new vacation home or the permanent move you have thought about, the spokesman said. The mountain foliage, the clean, cool incredibly fresh air will enchant and invigo-c rate you.

The mountains will remind you of what life can be in a perfect environment, and Towamensing Trails is indeed the right choice for your family. Besides the natural beauty for which the Poconos are famous, this private community offers the residents a 190-acre private lake, beaches, docking and. launching areas, boating and sailing, tennis courts, swimming pool, lakeside clubhouse, lounge and restaurant, sauna and steam room, exercise center and game room. Less than four miles from for a visit, call (1-800) 227-0107 or collect (717) 476-1120. To drive to Towamensing Trails New York and New Jersey, take Interstate 80 past the Delaware Water Gap west to Exit 43 at Blakes-lee.

South on Route 115 twc miles to Route 903. Turr right on 903 for five miles, or right directly across from en trance of Towamensing Trails. and sewage installation. Pocono Builders Model Home Showcase will show you other model homes. You will be given the time to select the ideal home in which you can raise your family and entertain friends.

They will make your move to Towamensing Trails Community a secure and solid investment experience. To make an appointment 4 'i -j-r.