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...
The ripple effects of Covid-19 continue to make waves through almost every facet of daily life. Over the last few years, shutdowns have given way to work-from-home policies, and these significant disruptions caused many employees to reevaluate their professional happiness. Perhaps unsurprisingly,...
During the early days of the pandemic, when residents were leaving NYC in droves, landlords put on the bargain blowout sale of the century. With so many properties available for rent, landlords had to lower rental rates to keep tenants in their units. For a while, this benefited both parties, but...
Although NYC office space rentals are up in some respects, the numbers can be deceiving. When examining the status of commercial office space in New York City, it's important to distinguish between square footage leased and new leases signed. As an article by BISNOW reports, the amount of square ...
Mark Twain once said: “Buy land; they're not making it anymore.” The sentiment rings as true now as ever, and if you're a real estate investor, this isn't news to you. Twain might be surprised to see how the real estate market has changed since his day, back when real estate investments might hav...
The spring 2022 housing market is expected to surpass all price growth records since the beginning of growth record keeping in the 1980s. According to an article recently published by Forbes.com, the rate of home price growth topped 20% in August of 2021, and while many experts predicted a decrea...
Those looking to purchase a home in New York are in for a wild and possibly frustrating ride. According to Mansion Global, the price growth rate of homes on the market this year remains in the double digits, and low inventory coupled with low interest rates have contributed to the skyrocketing ho...
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...
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