1031 Exchange Vs. Qualified Opportunity Zones
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. Everyone is always looking to save…
One-Bed Luxury Condo Up for Auction in Financial District
662-square-foot condo in Financial District elevator building goes to auction June 26, 2019 with a lien of $575,758. The auction will take place at 60 Centre Street, New York City at 2:00 PM. Unit 809 in 20 Pine The Collection at 18-20 Pine Street, New York, NY, was bought in 2006 for $620,000. On the…
Philip White, President and CEO of Sotheby’s International Realty: Be Authentic, Personable, and Available to the Luxury Buyer
Earlier this year we spoke with Kevin Thompson, chief marketing officer for Sotheby’s International Realty Affiliates LLC. For our most recent expert interview, we had the pleasure to talk with another very prominent figure in the luxury real estate industry: Philip White, president and chief executive officer for Sotheby’s International Realty. Philip has played an…
Queens Condo Goes to Auction $500K Below Market Value
1,003-square-foot Rego Park condo heads to auction June 28th with a $208,644 lien. The auction will take place at the Queens County Supreme Court, 88-11 Sutphin Boulevard, Room 25 at 10 AM. 97-12 63rd Drive #2B was initially purchased for $215,000 in 2004, with a same-day mortgage of $172,000 secured through MERS. There was another…
A Comprehensive Guide to Investing in Physical Real Estate Versus Other Types of Real Estate Investments (REITs, REIGs, Private Notes & More)
Editor’s Note: This article was updated on July 13, 2023. Investing in real estate is a time-tested strategy for building wealth and generating passive income that also represents a more secure and resistant investment avenue than stocks, for example. But, getting started in the diverse landscape of real estate investment types can be overwhelming for…
Setai Wall Street Condo with $300K Lien Heads to Auction
591-square-foot condo in Manhattan’s Financial District set for auction with a lien of $331,679. The auction will take place at 2 PM June 26, 2019 at 60 Centre Street, Room 130. Located in the prestigious Setai Wall Street luxury condominium tower, 40 Broad Street #24C was originally purchased in 2011 for $474,102. No mortgage was taken…
Rent Stabilization Laws Expiring This June – What to Expect
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. With summer approaching, thoughts of beach…
Midtown Penthouse Heads to the Block with $1.2M Lien
1,069-square-foot condo in Central Midtown elevator building is scheduled for auction with a lien of just over $1.2 million. The auction will take place June 19, 2019 at 2pm at 60 Centre Street, Room 130, New York City. Located in a condominium building designed by Rosario Candela, 40 West 55th Street #PHS was originally purchased in…
2019 Office Completions: 52% Increase Over Last Year
Key Takeaways: Over 115 million square-feet of office space across the top 40 markets is coming in 2019—a 52% increase over 2018. NYC will add almost 16 million square-feet, roughly doubling the amount added in 2018. The U.S. economy has been on a tear in the last 10 years. Unemployment is at its lowest levels…
Billionaires’ Row: Evolution of Sale Prices and Absorption Report
Key Takeaways One57 and 432 Park Avenue have occupancy rates of 79% and 82% respectively. The addition of 220 Central Park South has taken the median sale prices in Billionaires’ Row to almost $20 million this year. New York City’s Billionaires’ Row was dubbed five years ago, but its exact geographic boundaries remain unclear. In reality,…
The Post-Recession Housing Pulse of Medical Centers – Nursing Wages and Home Price Growth
After looking at the best cities to buy a home in based on your occupation, we decided to switch things around and analyze cities from the perspective of one occupation. With roughly 1 in 53 Americans now employed as nurses, we decided to take a look at the evolution of home prices and nursing wages…
Foreclosure of the Week: 1,000-Square-Foot Chelsea Condo Heads to Early June Auction
1,001-square-foot condo in Chelsea elevator building is scheduled for auction on June 5, 2019 with a lien of just under $1 million. The auction will take place June 5th, 2019 at 2pm at 60 Centre Street, New York City. The one-bed, one-bath condo at 555 W. 23rd Street #N12D was purchased in 2006 for $1,211,717. The buyer…
Key Terms for Real Estate Investing
Before you head out to buy your first property, there’s some important terms and concepts to familiarize yourself with. Equity is the amount of ownership you have in the property. If you purchased a house with 20% down and took a mortgage for the rest, your ownership equity would be 20% initially. As you pay…
Breaking Through the Roadblocks of Real Estate Investing
There are many reasons why people think they can’t invest. The media only focuses on the 1% and how the middle and lower classes are drowning in debt. There are very few reasons keeping you from investing. Some roadblocks are bigger than others, and it may not be easy. They take imagination and sacrifice to…
Why You Should Invest in Real Estate
Understanding personal finance is the first step on the way to financial independence. Now you can make that money you’ve saved work for you, and investing is the most effective way. It allows you to earn money while you sleep and take advantage of compounding. Prepare for Emergencies and Retirement Many Americans don’t have enough…
Personal Finance: Your Relationship with Money
“You can afford anything, but not everything.” Before we get into investing, we need to address the elephant in the room – your personal finances. To invest, you first need money to invest with. Here’s a quick guide to gauge your financial fitness: How much you earn – How much you spend = How much…
Expert Interview with Sotheby’s International Realty CMO, Kevin Thompson: A Change is Occurring in the Luxury Real Estate Industry Now
For the latest expert interview in our series, we had the chance to talk to Kevin Thompson, Chief Marketing Officer for Sotheby’s International Realty Affiliates LLC. With an impressive background in education, high-end fashion, and luxury real estate, Kevin is the mastermind behind all digital marketing, advertising and PR initiatives for the Sotheby’s International Realty…
What Every Consumer Should Know: Recent Legislative and Tax Changes Under New York State’s Real Estate Law
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. Due to 2019 changes in the…
Brokers Beware – 7 Common Legal Mistakes to Avoid
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. Have you been watching too many…
1.6 Billion Square-Feet of Unused Air Rights in NYC
The rental market in NYC is primed for change and not everyone agrees on which direction to go. With landlord/tenant regulations set to change in June, the rental landscape in NYC could look very different in 10 years. Additionally, air rights, also called development rights, are also on the legislative docket. NYC currently has over 1.6…
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