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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...

Rising Interest Rates Mean Falling Home Sales

Posted by Melvin Monachan | Sep 12, 2022 | 0 Comments

After two years of home sellers enjoying prospective buyers lined up and eager to buy at nearly any price, home sales are finally cooling off. The reason? Rising interest rates have made owning a home less affordable, pushing some buyers out of the marketplace altogether. And it's all happening ...

The Real Landlords of NYC

Posted by Melvin Monachan | Aug 23, 2022 | 0 Comments

And you thought your landlord was bad. Or maybe you are the landlord, and your unreasonable tenant makes you want to scream. In either case, it's unlikely that anything you're experiencing comes close to an average day in the life of the Koeppel family. The family, who own ten buildings in Manha...

Shifts in the NY Real Estate Ecosystem

Posted by Melvin Monachan | Aug 10, 2022 | 0 Comments

The ecosystem of New York real estate is driven by key factors, including demand and costs. Demand for residential housing is at an all-time high nearly everywhere in the nation, especially in New York City. Although the demand is through the roof, costs are tempering the enthusiasm for new devel...

The Status of Commercial Real Estate after COVID

Posted by Melvin Monachan | Aug 10, 2022 | 0 Comments

The real estate market makes news nearly every day. While residential real estate enjoys the biggest headlines, the commercial real estate sector has also undergone significant swings in the last few years. Now that we live in a largely post-COVID world, the commercial real estate sector is begin...

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