Daily News from New York, New York • 287

DAILYs NEWS Houses Apartments Condominiums Co-ops Vacation Homes mil iru P3 Finriciii homesGGEiGrs fr siiis pill SHE AVAILABILITY of unoccupied second homes in Florida's resort areas, and the attractiveness of fit 3 Palm Beach, has formed a separate, specialized company known as Landara-ma Florida, Inc. In the words of Lu Ketcham, Land-arama's leasing director: "The concept is attractive to everybody but there can be risks and headaches for the homeowners, and aggravations for the renters, unless everything is handled in a very businesslike, systematic and professional manner. This is why our services are so necessary. "The first requirement, of course, is to bring the right people together at the right time. This makes an efficient registry, advertising in key areas both North and South and a lot of other communications.

Then it's important to screen applicants, make mutually acceptable financial arrangements, and see that they're carried out "We take care of utility connections and any interior maintenance that may be required. We perform careful household inventories before and after renting, and make periodic visits to be certain that the condo owners' property is well taken care of and even provide cleaning and laundering services after each renter's stay." The Pine Ridge and Pine Ridge south condominiums managed by Landarama such homes for short-term or seasonal rentals, has created a booming market in which homeowners and vacationing renters can both make very profitable arrangements, according to builders of Pine Ridge in the Sunshine State. The income-producing opportunities are being sought by more and more owners. And vacationers are discovering that they can enjoy more space, more privacy, more freedom, and often more luxury than traditional hotel or motel accommodations offer them and at considerably lower cost Activity of this kind has been particularly strong at the successful Pine Ridge condominium community in Palm Beach County, and at its "sister" community. Pine Ridge South, where home salesbegan recently.

Together, the communities will have more than 2,000 homes when Pine Ridge South is completed, a substantial number of which are being offered for rental by their owners. To assist both the owners and renters in making the sometimes intricate arrangements, the developer of Pine Ridge and Pine Ridge South, Hovnanian of iiiiiiiiiiiiinigi Living's easy poolslde at Pine Ridge condo complex in Palm Beach County, Fia. ample parking, and renters may enjoy the use of the communities' pools, pavilions and other recreational facilities, as well as the attractively landscaped grounds with lakes, picnic areas, lawns and wooded groves. For details, write Landarama, P.O. Box 6559, Lake Worth, Fla.

33461, or call (301)968-5819. feature one and two-bedroom apartment-style condominiums, with central air-conditioning; modern, equipped kitchens; dining areas; laundry rooms; walk-in closets; screened terraces; wall-to-wall carpeting and other features. Furnished (seasonal rental) apartments and unfurnished (year-round rental) apartments are available. There is ft S.L huBBdler offers a big tip to waiters McAEpin msEcs si "Building new homes under the same corporate name for more than 18 years, we have been through similar cycles off and on during these times," LaRocca noted. LaRocca said the money market is reeevaluating long-term lending mortgages.

The expectation of the approval of renogtiable rate mortgages and graduated payment mortgages will allow banks to reevaluate their mortgage rates every three to five years. Currently, 4 Brothers is able to offer customers a 12 rate for 30 years, a homebuyer's hedge against inflation. Should mortgage rates fall, a provision allows the homebuyer to refinance without pentaly after the first year. The 4 Brothers organization is completing a development of nearly 100 homes and future plans call for an even larger development on Staten Island which, LaRocca pointed out, is the only borough where new homes and -communities are growing in full force. Fred LaRocca, field superviser and one of the 4 Brothers, points out that, "We deal with the most stringent regulations at Annadale on the south shore.

Builders here are required to meet special zoning codes and environmental In addition, new homes adhere to the strictest energy codes in the country. "Furthermore, our recent acceptance into the HOW Program offers the security of a 10-year warranty a symbol of our commitment and a personal acknowledgement of the pride we take in helping you have your dream home." If you didn't buy a home at yesterday's prices, be sure not to wait until tomorrow's, says Frank LaRocca, builder of the 4 Brothers development in the Annadale section of Staten Island. In this decade, regardless of whether money is tight or easy, interest rates high or low, the demand for homes will be increasing and, in all likelihood, so will prices, noted the builder. Additional demands for mortgage funds and new homes will come from new buyers in the housing market, women who head households and single persons. The '80s will also find 42 million people reaching the prime home buying age, he said.

LaRocca said housing experts see an increase of 8 to 10 each year in new home prices. lllliSlWiliiliBl I The McAlpin Hotel in the early 1900s. 1 Available to residents by membership, it will offer a full roster of recreational facilities, including a pool, squash court, game rooms, lockers, saunas, exercise and steam rooms as well as a lounge, snack bar and terrace. Location is central The McAlpin House, located at one of the city's most convenient crossroads, one block off Fifth Avenue, affords in- i stant transportation in any direction. 'Broadway and Sixth Ave.

intersect at the corner, providing access to the theater district, Central Park and Lincoln Center, downtown to Greenwich Village and cros- stown to the East Side. Subways, both the IND and BMT, stop at the door, and the IRT is a block away at Penn Station. The building will be managed by Grenadier Realty a subsidiary of Starrett Housing Corp. special arrangement with Macy's, directly across the street, tenants can call in their grocery order to Macy's Food Center the celebrated find it waiting when they arrive home. A 24-hour doormanconcierge, security guards, closed circuit TV and house intercom are included in the building's security program.

The studio and one-bedroom suites feature parquet floors, acoustical windows, central air-conditioning, and generous closets, some walk-in. Decorator kitchens are fully equipped, including General Electric stoves, dishwashers, and two-door refrigerators. Master TV antenna and cable TV will also be available. During the conversion of the McAlpin, a special effort was made to preserve items of never to be reproduced old-time workmanship which, it is said, add to the individuality of many of the apartments. On its roof top, the McAlpin House will boast a new health club facility.

The architect for the McAlpin House is BrockstedtGreenfeld, Architects, P.C., with Designetics Associates as lobby interior planning and design consultants. Model apartments furnished by Macy's are now available for inspection. J.I. Sopher Inc. the rental agents, have offices on the premises.

Monthly rentals range from apporximately $500 for a studio to $900 for a one-bedroom. Furnished units, too Beanch said that the apartments were planned to provide every modern convenience and service including some features that are unique for metropolitan apartment residents. These features, plos the location of the new apartments, make them particularly attractive as corporate suites. Completely furnished apartments will also be available. The McAlpin House management has made arrangements to solve many of the problems of career-oriented tenants by providing maid and valet service.

By HE McALPIN HOUSi, a eyu-unu residential building located at 50 W. 34th St. on Herald Square, will be ready for occupancy in July, according to Douglas P. Benach, vice president, Starrett Housing Corp. The 26-story structure, a joint venture development between Starrett Housing Corp.

and William Zeckendorf was converted from the McAlpin Hotel at a cost of $24 million, and is another exam-ple of the continuing revitalization of the Herald Square-West 34th St midtown Manhattan area..