Rent Freeze & Regulations in New York City
With eviction moratoriums still in place and late-payment fees banned, officials have been working to ease renters’ worries, while landlords continue to struggle with limited income.
Best 360° Virtual Tour Software Options for Real Estate in 2020
Real estate professionals are often having difficulty closing deals as the industry faces significant challenges due to the COVID-19 pandemic. However, when social distancing went into effect — and even showing houses in person was prohibited in some states — virtual tours emerged as a viable way to address this issue. And, while the physical…
Top Ten Most Expensive Homes Sold in 2019 in The Hamptons
The Hamptons is one the world’s most exclusive seaside resorts — and the ultimate playground of the rich and famous. In addition to its lush greenery and opulent vacation homes, the area is dotted with private beaches on the Atlantic coast, stretching from Southampton to East Hampton on New York’s Eastern Long Island. The towns,…
Q1 2020 New York City Neighborhood Real Estate Report
 Key Takeaways: First quarter sales activity went up by 5% compared to last year. Hudson Yards remained most expensive neighborhood with a $4.6 million median sale price. Malba was the 7th-priciest neighborhood, with a $2 million median sale price. Manhattan’s most affordable neighborhood was Inwood with a $409,575 median home sale price. The first quarter…
Omninet Capital Nabs Two Metro LA Office Campuses for $78M
Omninet Capital recently purchased two metro Los Angeles office properties — one in Torrance and one in Commerce — for a total of $78 million. In the first deal, Omninet bought a three-building office park in Torrance called Park Del Amo. Located at 2355 and 2377 Crenshaw Blvd., the 204,468-square-foot campus fetched $39 million. At…
Tik Tok Inks Lease for 232K SF at Durst’s One Five One
Social media giant Tik Tok recently signed a 10-year lease for 232,000 square feet of Midtown Manhattan office space at the Durst Organization’s One Five One, previously known as Four Times Square or the Condé Nast Building. The terms of the deal were not disclosed. Tik Tok will take over seven floors in the 48-story…
How COVID-19 Is Affecting Commercial Landlords & Tenants
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. The pandemic has upended the lives…
Commercial Real Estate – Fundamental Terms
What is commercial real estate? Commercial real estate (CRE) refers to properties meant to generate income. These properties are places where companies conduct business, with the notable exception of multifamily properties and buildings designated for hospitality, which provide living space for residents. Investors typically own the building (or a percentage thereof) and collect rent from…
Round-Up: May 2020’s Notable Office Deals & Leases
Two months after the COVID-19 pandemic placed nearly all industries on hold, many financial markets are slowly restarting. In particular, several major office deals took place in May, proving that the situation in commercial real estate is starting to thaw. Here are the six most significant office deals and leases that took place this month….
Uncertain Times Call for Reliable Data
Vince Soriero, business development manager and corporate sales lead, shares his insight on leveraging PropertyShark’s real estate data in volatile markets.
1031 Exchanges Under COVID-19
Like the real estate industry as a whole, 1031 exchanges have also been affected during the pandemic. While the Internal Revenue Service (IRS) does not usually grant extensions on these deadlines, it has made an exception due to COVID-19.
Transwestern Closes Deal on Former American Airlines HQ
Transwestern Real Estate Services announced that it brokered the sale of a campus spanning 1.4 million square feet of office space Fort Worth, Texas. The campus had previously served for decades as American Airlines’ global headquarters until last year, when it was vacated and put on the market. The sale price was not disclosed. The…
Real Estate Professionals Under Lockdown: Impact & Future Opportunities in NYC
We reached out to NYC-based professionals to see how they’re experiencing the situation on the ground, how they’re adapting and planning for the future, and where they see opportunities emerging.
Yardi Matrix April Office Report: Leases & Sales Remain Steady
Although COVID-19 radically changed the industry, its effects on commercial real estate aren’t yet clear according to Yardi Matrix’s April office report.
Buying a Home in NYC During Lockdown: Virtual Closings & Escrow Closings
Real estate and legal industry professionals have begun utilizing more virtual closings and escrow closings.But how do they work and are they here to stay?
Real Estate’s Recovery in New York City
The 21st century is only 20% complete and we’ve already seen multiple unprecedented events — 9/11, the global financial crisis of 2008 and now COVID-19. While history never repeats itself, it often rhymes. So, what — if anything — can the previous crises tell us about what the real estate market in New York City has ahead? Newmark Knight Frank’s recent report sheds some light on what we might expect in the upcoming weeks,…
8 Online NYC Real Estate Conferences to Attend
Many events have been cancelled to prevent the spread of COVID-19, and real estate has been especially affected by this development because of its reliance on networking and knowledge sharing. However, many organizers have decided to move their events online, hosting webinars and offering online courses. So, if you want to come out of lockdown…
NYC Multifamily Sales Volume Surges 39% in Q1
The effects of COVID-19 have yet to show up for NYC multifamily in Q1: sales volume leaps 39% Y-o-Y, totals $1.9 billion.
New York Non-Profits Are All About Educating Homebuyers: An Interview with Ryan Walsh, Esq.
Education and advice from prominent real estate professionals are key to navigating New York’s complex housing market, and both merged seamlessly in our conversation with Ryan Walsh, Esq., a partner at Walsh & Gilad, PLLC. Walsh is also a member of the board of the Neighborhood Housing Services of Queens (NHS of Queens). Here, he…
Prominent Office Leases in New York City: March 2020
Several high-profile office leases were signed by industry-leading companies last month. We rounded up the five most notable in New York City in March – check them out below:  1. R3 & Check Point Software Technologies Move to 1155 Avenue of the Americas  The iconic, granite-clad, 41-story tower located between West 44th and West 45th streets welcomed two new tenants in the month of March. Specifically, two leading tech companies will occupy significant portions of the Durst Organization’s 1155 Avenue of…
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