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…
Transferring Property to an LLC
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. Many people purchase real estate under…
Migration Triggers Increased Activity in Miami Apartment Construction
A new study recently released by self-storage marketplace STORAGECafé ranks the country’s top 10 cities in terms of inbound migration. The Miami-Fort Lauderdale-West Palm Beach metro area ranks seventh nationally in terms on inbound migration, with almost 239,000 newcomers in 2017, as per the latest US Census data. During the same interval, the metro area…
6 Tips for a Successful Commercial Real Estate Marketing Strategy
In the highly competitive commercial real estate (CRE) industry, you need to stand out from the crowd to succeed. Specifically, a good marketing strategy, if applied correctly, can help you achieve prominence among real estate brokers and, as such, draw more clients to you. Plus, a well-developed real estate marketing strategy helps you get organized…
Subletting vs. Assigning for Commercial Tenants: Which to Choose When You Want to Get Out of Your Lease
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. Tenants of commercial or residential spaces…
The Most Expensive U.S. Office Space Submarkets In 2019
Key Takeaways California home to 36 of 100 most expensive U.S. office submarkets in 2019 New York’s Plaza District, Gramercy Park and Chelsea all in top 10 Mountain View’s Shoreline takes most expensive submarket in 2019 with average sale price per square foot of $1,554 compared to $233 national average The U.S. commercial real estate…
3 Tips for a Great CRE Listing
Presentation is everything and appearances count. This is especially true within the real estate industry; you can be the best commercial real estate (CRE) broker in town, but if you don’t properly present your CRE listing in an eye-catching, appealing manner, then you’ll have a hard time selling any property. In particular, you need three…
Get to Manhattan in a New York Minute – Best Mass Transit Commuter Towns in New Jersey
Key Takeaways: Hackensack ranked the #1 New Jersey commuter town, with a 65-minute travel time and low housing costs Hudson County has 4 of top 10 best towns for those commuting to Manhattan Shortest commute time is from Hoboken at 29 minutes Ridgewood boasts best schools, but with the highest home prices Manhattan is…
New York Broker Fees: Legal or Banned?
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. February will certainly be memorable for…
2019 Annual Multifamily Report: NYC Sales Volume Down 41%, Unit Volume Halved
Key Takeaways: Multifamily sales volume dives 41% Y-o-Y across the four boroughs. Manhattan prices accelerate; price per unit up 22% Y-o-Y. Queens loses 60% of its sales volume Y-o-Y after strong 2018. Bronx sales activity down 37%, inking a mere 155 deals. Brooklyn sales volume halved, transactional activity down 32% Y-o-Y. As a blue wave…
Mitsui Fudosan Tower Breaks Ground in Downtown Los Angeles
Mitsui Fudosan America has begun site clearance for its high-rise in downtown Los Angeles. Replacing a parking lot at the northeast corner of Eighth and Figueroa streets, the 42-story, mixed-use, residential tower is slated for completion within three years. Lendlease Construction is the project’s general contractor. The project—which got the green light last summer—calls for…
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