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NYC Landlords Sue to Get Off Tenant Harassment List

Posted by Melvin Monachan | Mar 13, 2023 | 0 Comments

Four New York City landlords recently sued the city, saying they should be removed from a city program that forces them to prove that their tenants were not harassed. The landlords say the program, the Certificate of No Harassment Pilot Program Building List, is “mired in secrecy” and prevents t...

What Will a Recession Mean for Commercial Real Estate?

Posted by Melvin Monachan | Feb 28, 2023 | 0 Comments

Just about everywhere you go, people are talking about a potential recession. Fortunately, few seem confident that a recession is coming, even though many worry about one. The last few years have been a crazy roller coaster for residential real estate, but what does a potential recession mean for...

Floated Rent Laws Spark Industry Ire

Posted by Melvin Monachan | Feb 18, 2023 | 0 Comments

In late August 2022, lawmakers introduced two new bills to prevent landlords from asking prospective tenants for background checks, causing a massive outcry that the government was looking to overtake landlords and create socialized housing. The worry is that in this post-COVID-19 world, the rea...

Home Prices Are Finally Dropping…But Not Everywhere

Posted by Melvin Monachan | Feb 14, 2023 | 0 Comments

The United States has seen the real estate market appreciate steadily and quickly in the last two years. But between July and August 2022, home prices had dropped by 1.1%, the biggest monthly drop since 2012 when the housing market crashed. Just like the 2012 crash, the current decline is a resul...

What Does Ikea Queens’ Closing Mean for the Chain?

Posted by Melvin Monachan | Jan 24, 2023 | 0 Comments

Ikea knows New Yorkers want what they're selling, but they haven't quite landed on a concept for how to sell it to them. A Small-Format Store Ikea, known for stylish, inexpensive, put-it-together-yourself furniture, announced that it would be closing its small-format store in Queens less than t...

Taking Cover in a Tornado Market

Posted by Melvin Monachan | Jan 08, 2023 | 0 Comments

You've heard of a bull market and a bear market, but a tornado market? That's the term real estate professionals are currently using to describe New York City's dramatic real estate climate changes. It means that the city's real estate market is completely unpredictable, and no one knows what it...

What Rising Mortgage Rates Mean for Buyers

Posted by Melvin Monachan | Jan 05, 2023 | 0 Comments

If you're in the market to buy a home, you're probably already aware that interest rates have risen considerably this year. At over 7% for a 30-year-fixed mortgage loan, interest rates have not been this high since April 2002. For buyers in New York City, already staring down some of the most ex...

The Pandemic Changed Industrial Real Estate Forever

Posted by Melvin Monachan | Nov 30, 2022 | 0 Comments

Fifty years from now, people will talk about two time periods: before the pandemic and after the pandemic. Since early 2020, daily life has changed in more ways than we can count, and industrial real estate has changed alongside it. According to a recent Forbes article, e-commerce grew exponentia...

Cold Storage is Hot

Posted by Melvin Monachan | Nov 30, 2022 | 0 Comments

One particularly frigid niche of the commercial real estate sector is white hot with popularity. Cold storage is booming, and the Wall Street Journal reports that refrigerated storage space construction is on the rise. Even before tenants are lined up, developers are adding millions of square foo...

Landlords’ POV on the Real Estate Boom

Posted by Melvin Monachan | Oct 13, 2022 | 0 Comments

The housing market around the country has been booming for the last year, seemingly effortlessly. In New York, vacancy rates are the lowest they have been in 14 years – just 1.77%. There are costly bidding wars, unhappy tenants, and rent increases that top out at 70%. But what do landlords really...

Hard Times for Home Flippers

Posted by Melvin Monachan | Sep 29, 2022 | 0 Comments

For professional home flippers, there has never been a worse time to be in the business. Flippers, who buy homes with a plan of quickly updating and reselling them, are finding that the high demand for houses and the lack of housing inventory are impacting them as much, even more, as traditional ...

New York’s Real Estate Market is Nuts Right Now

Posted by Melvin Monachan | Sep 29, 2022 | 0 Comments

Whether you're hoping to rent or own, the housing market all over the U.S. is crazy right now, and it's even crazier in New York City. Realtors throughout the city say they're listing properties for prices far above market value, and they're still getting multiple offers and finding buyers willin...

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