Blogs

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...

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...

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...

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...

Any time the word “recession” is used, the U.S. economy goes into a tizzy, and commercial real estate investors need to make sure they are prepared for whatever happens next. To avoid losses during a recession, there are a few things you can do to ensure your bottom lines are protected. 1. Choos...

Artificial intelligence (AI) used to be something we only saw in movies and television, but with the invention of Siri and Alexa, most of us have more experience with AI than ever before. But the use of AI doesn't end at playing our favorite song or ordering our favorite pasta sauce. In fact, AI ...

From drones to blockchains, tech advancements are transforming the commercial real estate industry. Whether you're a landlord or an investor, here are three key tech developments you should know about. 1. Drone Technology Drones serve as digital eyes in the sky. As agile, unmanned systems, they...

Newsweek recently reported on massive crowds waiting to view vacant NYC apartments. Although the crowds shocked viewers, is the demand for properties in NY surprising to the experts? Not when we think about what's happening with NY's housing market right now. For one thing, average rental rates ...

From COVID-19 to rising inflation rates, there's no doubt that the commercial real estate sector is reeling from numerous shocks. And although the US is not technically in a recession, there's a risk we're heading that way. In these circumstances, you might wonder whether to hold, buy, or sell y...

In the last five years, the worldwide use of cryptocurrency to pay for real estate has increased to about $100 million. But, in the last year, this has decreased to nearly nothing because of a significant decline in the cryptocurrency market. For example, Bitcoin, the most widely used cryptocurre...

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...

Eyes bulged when a group of Upper East Side Manhattan residential buildings recently sold for $1.75 billion, the largest real estate transaction in the city since before the pandemic. A Jaw-Dropping Amount The six buildings were bought by Black Spruce Management Company and Orbach Affordable Ho...

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 ...

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...

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 ...

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...

Commercial real estate hasn't enjoyed the all-time-high demand seen in the residential real estate sector during the last few years. In fact, experts have been relatively subdued on the future of commercial real estate's prospects in NYC. Recently, however, CBS News reported that demand for CRE i...

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 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...

The New York Post reports, “The average price of an apartment in Manhattan increased by 19% over the first quarter of last year — jumping to $2,042,113.” In fact, Manhattan real estate sales in the first quarter of 2022 broke records, totaling over $7 billion. To put it another way, there were ov...

Few cities offer luxury real estate like New York City. Essentially, the sky's the limit so long as the buyer has the funds for it. For the past few years, those dealing in multi-million dollar homes have enjoyed a fast-paced seller's market, but a recent Forbes article points out how the luxury ...

Over the last few years, the pandemic drove hundreds of thousands of people out of New York City. Some of these individuals were escaping NY rent prices, while others just wanted more space to spread out during the peak of social distancing mandates. Now, there's a new wave of people seeking prop...

At first glance, it would appear that all is well with the real estate market in NYC. Investors have experienced record sales over the last several months, and a recent MPA article notes more than $300 billion in real estate sales across the nation in the last quarter of 2021. The article, citing...

Residential lease renewals are down in New York City, according to an article published by Bloomberg. As Equity Residential CEO Mark Parrell notes in the piece, the company has seen renewal rates at its properties decline by 5% since the beginning of 2022. Although the pandemic has become largel...

When they invest in luxury buildings or condos, buyers expect many things, and defects aren't one of them. Despite the universal expectation of “you get what you pay for” when you buy into luxury real estate, the reverse is unfortunately true for many New Yorkers. The New York Times recently publ...