As reported by The Real Deal, the Second Circuit recently heard oral arguments on the constitutionality of rent stabilization in New York. Rent stabilization has long been a hot-button issue. Proponents argue the need to protect affordable housing while property owners argue that rent stabilizati...
NYC leads the nation on many fronts, unfortunately not all of them good. When COVID-19 hit the United States, New York City was among its first victims. As a result, renters and property owners have suffered the impacts of the pandemic-related economic crisis longer than most others in the nation...
New York real estate is known for many things: skyscrapers, brownstones, and art deco, to name a few. These days, NYC also has another building variety making the news: ghost condos. Ghost condos are multi-million-dollar endeavors, situated in NY's financial district, that have remained unfinishe...
A year and a half ago, only the most optimistic speculators would have told you that NYC real estate would be back with a bang in 2022. Fortunately, they were right, and at least in the NY residential real estate sector, it's a seller's market with small, one bed/one bath apartments listing at ov...
While some real estate investment trust (REIT) sectors have suffered over the past few years due to struggling economies and the pandemic, the industrial REIT sector has not. In fact, industrial real estate investments have enjoyed a steady increase in profitability over the last decade, and expe...
What Happened On December 10, 2021, a tornado hit an Amazon warehouse in Edwardsville, IL causing it to collapse and killing six people. 40 Amazon employees survived the EF-3 storm, and lawsuits have already been filed. The tornado reportedly caused the roof to tear off, allowing the walls to fa...
The Life Science Industry Explained The life science industry includes companies and organizations that deal with the research, development, and manufacturing of products that seek to improve life on earth in general. Some of the life science industry sub-industries include the development of m...
According to a recent Motley Fool article, the prime time to invest in industrial real estate “was about six months ago.” That said, the article notes that even now, investors can find opportunities within the industrial real estate market. While many of us lament the economic chaos and uncertain...
New York City real estate values have demonstrated remarkable resilience in what's commonly become an era of bad economic news. In the wake of the COVID-19 Pandemic, commercial real estate seemed an apparent ghost town, and quarantine shutdowns stifled residential renters' ability to pay their la...
The Current NYC Rental Market The current New York City residential rental market is experiencing significant competition and increased prices among rentals across the city. While a short dip occurred as Omicron worked its way through the city's population, New York City residential rentals have...
In November 2021, renderings of an upside-down New York skyscraper called Affirmation Tower were unveiled by developer Don Peebles and Ghanian-British architect Sir David Adjaye. The newest skyscraper to line the skies of New York City will be the second tallest, right behind One World Trade Cent...
Even though most cryptocurrencies are still finding their footing, it is increasingly clear that they are not going anywhere. With that in mind, real estate investors are exploring new ways of including crypto among their buying options. Magnum Real Estate Group is the first of many New York ins...
Previous Pandemic Effects on NY Commercial Real Estate In Q1 2021, New York City experienced significant losses in commercial real estate due to the COVID-19 pandemic. As business tenants scrambled to stay in business, New Yorkers as a whole felt the pinch as many workplaces were forced to clos...
The duties of a landlord are never done, and unfortunately, the current state of the economy as a result of Covid-19 has not made life easier for those who own rental properties in New York. In addition to complicated eviction moratoriums and a mass exodus of residents out of urban areas, landlor...
Housing prices have continued to increase over the past year, and some economists wonder if another housing bubble is around the corner. In 2007, after years of inflated housing prices and a building boom, the bubble burst abruptly, leading homes to lose about 26% of their value, inciting the Gre...
Over the last decade, the NYC office sector experienced a level of growth that more than doubled commercial real estate values and associated property taxes. A press release issued by the New York State Comptroller attributes this expansion to robust job growth, noting “New York City's office sec...
Nationwide, the changes in the real estate market over the past couple of years have been dizzying, but nowhere as much as in New York City. So, what should we expect this year? Unprecedented Times The early months of the pandemic lockdown found workers fleeing large cities and opting for the s...
Every new year brings different commercial real estate trends, but with the pandemic still ongoing, it can seem like these trends are changing day to day. In fact, in the Fall of 2021, a ULI Americas survey predicted that commercial real estate values would increase 10% in 2021 and 7% more in 202...
Factors that Led to Substantial Increases in Industrial Real Estate Values The pandemic turned up the heat on the real estate market in many ways. One major winner of this trend is warehouse owners. Warehouses traditionally are not considered prime real estate because of their location and purpo...
2020 and 2021 put significant stress on the renting population. Unfortunately, it seems that 2022 will be no kinder. Rent all across the nation, but particularly in urban areas, is skyrocketing. The sharp uptick in prices has left many renters wondering about the benefits of homeownership and whe...
Around March of 2020, everything changed for New Yorkers and the rest of the world. Even now, with the Covid-19 pandemic still lingering, many commercial businesses in NYC are tapping into new creative reserves to boost profitability. Although the worst of the pandemic appears to be over for New ...
New York commercial real estate took a hit during the peak of the COVID-19 pandemic, and it wasn't alone. Restaurants shuttered their doors, and Broadway turned off the lights. Remote workers didn't just leave office buildings; they left the city entirely. Reuters reports that the loss of income ...
What the Luxury Real Estate Market Looks Like Currently The luxury real estate market in New York City consists of properties with a price tag north of $4 million. After the pandemic caused lows in sales and pushed people outside of the city in 2020, the current luxury real estate market in New ...
Q3 2021 Multifamily Sales Figures In New York City, investment sales were dominated by multifamily properties in the third quarter of 2021. More than half of the 498 overall transactions for real estate investment sales involved apartment buildings during this time, and 281 total deals accounted...
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...
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