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Investors Want Greener Buildings

Posted by Melvin Monachan | Jan 17, 2022 | 0 Comments

While sustainable real estate is nothing new, many real estate investors are choosing greener buildings when looking at investment properties in the hopes of lessening their carbon footprint and attracting more climate-conscious residents. Low carbon emissions, reduced water usage, and fewer cars...

Return of the Pied-a-Terre

Posted by Melvin Monachan | Dec 26, 2021 | 0 Comments

Coronavirus has changed the way many people live, particularly in large cities like New York. City dwellers who had tolerated small, tight spaces suddenly found those same spaces intolerable as the places, activities, and workplaces that made city life necessary and fun went dormant. Working fro...

The Decline of Cities Like NYC Has Been Exaggerated

Posted by Melvin Monachan | Nov 27, 2021 | 0 Comments

The Predicted Demise of Big City Living The COVID-19 pandemic caused many people to move out of big cities such as New York City and led to one comedy club owner claiming that “New York City is Dead Forever.” Employees started to work more from home, companies moved out of their office spaces, a...

SCOTUS Ends the Eviction Moratorium

Posted by Melvin Monachan | Nov 16, 2021 | 0 Comments

The Supreme Court Allows Evictions Again In a 6-3 decision, the Supreme Court recently ruled to end the eviction moratorium initially put in place by the Centers for Disease Control and Prevention (CDC). The CDC put the eviction moratorium in place in response to the COVID-19 pandemic to curb th...

Signs New York Office Market Is Heating Up

Posted by Melvin Monachan | Oct 28, 2021 | 0 Comments

Vaccines Facilitate Office Returns Dow Jones & Company's news magazine Barron's, a particularly prominent financial media outlet, sees New York City's office market heating up. The Barron's story indicates that Goldman Sachs recommends that its clients buy call options on real estate investment ...

Why Have Chinese Real Estate Buyers Disappeared in NYC?

Posted by Melvin Monachan | Oct 22, 2021 | 0 Comments

Pre-Covid, Chinese buyers topped the list as the most profitable international source for foreign home purchases in the United States. In fact, Chinese real estate buyers spent $11.5 billion on New York City home purchases in 2019 alone. Post-Covid, those numbers are waning. In 2021, China droppe...

COVID's Impact on NYC Real Estate - Part 2

Posted by Melvin Monachan | Sep 23, 2021 | 0 Comments

In part 1 of this series, we talked about COVID's impact on commercial tax assessments and New York City's tax revenues. In this post, we will examine how some property owners are thriving based on a pandemic windfall and the outlook for NYC's commercial real estate market going forward. A Pande...

COVID-19's Impact on NYC Real Estate - Part 1

Posted by Melvin Monachan | Sep 15, 2021 | 0 Comments

Just about every aspect of New York City's real estate market has been turned upside down by COVID-19. Commercial property values and tax revenues are down. Landlords are still reeling from the City's moratorium on new eviction and foreclosure actions, and everyone is watching to see what happens...

Implications of a Resurgent NYC Real Estate Market

Posted by Melvin Monachan | Sep 11, 2021 | 0 Comments

When the COVID-19 virus first took hold of New York City, the outlook was dire. The wealthy were fleeing New York, businesses were shutting down, and the restaurant market was essentially closed for business. Everything that made NYC special was snuffed out overnight. The fear that the wealthy, w...

Have NYC Rents Really Hit Bottom?

Posted by Melvin Monachan | Sep 07, 2021 | 0 Comments

Rental Rates During the Pandemic The COVID-19 pandemic has resulted in record price cuts and concessions across New York City's rental market. Concessions such as a month or more of free rent have become popular, along with landlords agreeing to cover broker fees. Broker fees in New York can add...

Frenetic Housing Market Offers Opportunities

Posted by Melvin Monachan | Aug 23, 2021 | 0 Comments

A widely-read report documents the recent wild ride in New York's housing market. Or, one might better say, the wild rides in the City's several housing sectors, each in a way its own market. For many homebuyers, home sellers, and City residents generally, the current question may be whether to g...

Will Big Tech Save New York City Real Estate?

Posted by Melvin Monachan | Aug 16, 2021 | 0 Comments

How the COVID-19 Pandemic Affected New York City Real Estate The COVID-19 pandemic brought about countless unprecedented events and is being described as the event of our lifetimes. One of the most significant outcomes of the COVID-19 pandemic is the exacerbation of inequalities in social and ec...

New York Legislates Property Conversions

Posted by Melvin Monachan | Aug 04, 2021 | 0 Comments

Albany to the Rescue? To address pandemic shocks to New York's real estate market, the state's legislature hopes to spend $100 million to turn vacant commercial real estate into affordable housing. Governor Cuomo has yet to sign the bill that both state houses passed. But the bill is similar to ...

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