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Update on New York’s Recovering Real-Estate Market

Posted by Melvin Monachan | May 19, 2021 | 0 Comments

Where the Market's Just Been The pandemic still casts a mighty big shadow over New York City's real estate market. You can't get a clear view of the up-to-the-minute market without at least a snapshot of where that market has recently been. No question remains that the pandemic spurred a massive...

Loan Forbearance Relief Extended

Posted by Melvin Monachan | May 10, 2021 | 0 Comments

As they grappled with the frightening pandemic, millions of homeowners took due advantage of federal mortgage-forbearance legislation, relieving them of home mortgage payments for up to twelve months. With the pandemic's onset now more than twelve months ago, the Federal Housing Finance Agency re...

Short-Term Loans: A 2021 Real Estate Investment Trend

Posted by Melvin Monachan | May 03, 2021 | 0 Comments

Short-term real estate loans can represent opportunity. In New York, in 2021, on the heels of the pandemic, that's all that many borrowers seek. Over the course of 2020, many property owners had to shelve any commercial real estate projects they had planned. Their customers were staying at home....

Lessons from the Falcone Foreclosure

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

It's not how much money you have but how you manage it. That may be the big lesson to draw from a reported foreclosure auction coming up on former billionaire hedge-fund manager Phil Falcone's enormous East 67th Street townhouse and lavish Hamptons estate. Another media story puts the listing pri...

Thriving during the Pandemic: Is it Possible?

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

New York City residents have been through a rough year, especially after the spring's COVID-19 circumstances. As the pandemic continues, many factors would seem to indicate that everything is dire. For example, a recent report issued by Unacast asserts that roughly 70,000 (net) residents have lef...

The End of The 21 Club in NYC

Posted by Melvin Monachan | Mar 18, 2021 | 0 Comments

In the month that COVID infections in New York passed one million, the city learned that an iconic Manhattan institution would be closing. Back in December, when Gov Andrew Cuomo announced another city-wide ban on indoor dining in New York, historic restaurant The 21 Club made their own announce...

Lessons from the Tillary Hotel bankruptcy

Posted by Melvin Monachan | Mar 02, 2021 | 0 Comments

The COVID-19 pandemic has hit real estate hard over the last nine months, and the hospitality industry is struggling. Some New York City hotels were already struggling to make debt payments, and the worldwide epidemic was the final blow. The Tillary Hotel The owner of the Tillary Hotel in Brook...

Foreclosures Spiking in NYC: What It Means for You

Posted by Melvin Monachan | Feb 25, 2021 | 0 Comments

The months of financial hardship during the global pandemic are starting to take their toll among New York City homeowners. Despite numerous federal and state moratoria on evictions and foreclosures, Real Estate Weekly reports that NYC is currently among the top cities in the nation in the number...

Back to Business as Usual?

Posted by Melvin Monachan | Feb 09, 2021 | 0 Comments

With the percent of positive COVID-19 cases increasing week over week, indoor dining shutting down, and Mayor Bill de Blasio indicating that a complete shutdown may be necessary after Christmas, it's hard to imagine when the city that never sleeps will return to normal. However, that in fact, is ...

Reducing Uncertainty When Closing on a New Home

Posted by Melvin Monachan | Feb 06, 2021 | 0 Comments

Buying a home can be one of the largest purchases or investments a person makes in their lifetime. Figuring out the best loan rates, where to purchase, and hoping the sellers accept your offer can make the entire process feel stressful and open-ended. While you can't reduce all of the uncertainty...

Moratorium on Evictions and Foreclosures Extended

Posted by Melvin Monachan | Jan 25, 2021 | 0 Comments

When the COVID-19 pandemic began to rage across the U.S. in March of 2020, and the U.S. shut down businesses to try to slow the spread, the country took a big financial hit. People lost their jobs or faced furloughs and found themselves unable to pay their rent or mortgages. It was truly a scary ...

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