Patrick McGregor
Patrick McGregor is a senior writer covering the real estate industry and overall economic trends in the United States for several Yardi product publications. He also holds an MBA from Thunderbird School of Global Management. Patrick was previously a commercial real estate analyst at Yardi Matrix for five years. His work has appeared in the New York Times, Bisnow, GlobeSt, The Real Deal, Business Insider, The Denver Post, The Motley Fool, and more.
Three-Family Walk-Up Apartment Building in Corona is Headed for Auction
A three-family, two-story walk-up apartment goes to auction August 9, 2019 with a lien just over $750,000. The auction is scheduled to take place at 10:00 AM at 88-11 Sutphin Blvd, Jamaica, New York. 35-12 109th Street, in Corona, New York, was purchased in September 2003 for $478,000. On the same day, a mortgage was…
Hudson Yards and Little Italy Take Top Spots as SoHo Falls
Key takeaways: Hudson Yards enters the list as the 2nd most expensive NYC neighborhood in Q2 2019 Little Italy prices increase 153%, landing the neighborhood in the 3rd spot Cobble Hill jumps 171% to secure the 7th position DUMBO continues its slide, down another 40% Y-o-Y The top 50 most expensive neighborhoods in New York City had…
Prospect Heights 1-Bedroom Condo Goes to Auction for Less than $500,000
A 962-square-foot one-bedroom condo in Prospect Heights goes to auction August 1, 2019 with a lien of $479,834. The auction is scheduled at 2:30 PM at 360 Adams Street, Brooklyn, New York. Unit 5K is a one-bedroom, one bath condo located in the Richard Meier on Prospect Park building at 1 Grand Army Plaza. It…
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…
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,…
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…
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…
The Top 10 Best Commuter Towns in Los Angeles and San Francisco
Key Takeaways: Commuter towns. Nothing but tail lights, the futile honking of horns, and all the wasted minutes of your life flying by while you sit still. It’s enough to give even the most hardened Californian anxiety. For most, this hellish commute is just the price of admission for a quieter, safer, and more spacious…
Do Tiny Homes Live Up to the Hype?
Key Takeaways: Tiny homes have not yet gained a large share of the residential market, having been responsible for only 2% of all home sales in NYC and San Francisco for the last eight years. New apartment buildings have smaller units on average, with almost three quarters of them being under 1,000 square feet in…
NYC Multifamily Market Slows Ahead of June 2019 Uncertainty
The overwhelming success of Democratic candidates in New York’s midterm elections places the party in its strongest state-level position in decades, perhaps the strongest since the 1930s. This has led some real estate professionals to wonder if calls for more regulations, such as increased rent stabilization, will lead to uncertainty in The Empire State’s property…
3-Bedroom Home on 4,000 Square Foot Lot up for Auction in Midwood, Brooklyn
A 1,916 square-foot single-family home with full basement and two-car garage in south-central Brooklyn goes to auction on January 3, 2019, with a lien of $1,287,425. The auction is set for 2:30 PM at 360 Adams Street, Brooklyn, New York. The three-bedroom, 1,916-square-foot single-family home at 790 Argyle Road was purchased in November 2005 for…
Luxury Condos Stay Strong in November, While Single-Family Slides
Top condo transactions for November had two of the fall seasons higher profile sales, both at the newly-opened 520 Park Avenue luxury tower. British billionaire James Dyson, founder of the Dyson vacuum company, picked up Manhattan luxury condos are still a hot commodity. While luxury condo prices remained strong in NYC, high-end single-family home prices continued to…
November Posts the Largest NYC Commercial Deals of the Fall Season
Big sales in the NYC office market were fewer in November, with one notable exception. The 700,000 square-foot 425 Lexington was picked up by the Vanbarton Group for over $700 million, or $1,000 per square-foot. Prior to this, the most expensive commercial sale of the fall was 101 Barclay Street in TriBeCa. With over one…
LA’s Luxury Residences Remain Above $2,000 Per Square-Foot for November
LA’s high-end residential market maintains traction despite rising interest rates. Top locations for single-family homes continue to be Beverly Hills and Malibu, with top prices in the low eight-figure range. The most expensive sale was in Bel Air. The 7,500 square-foot compound sold for almost $20 million, more than $2,600 per square-foot. LA’s luxury condo…
November Posts the Largest LA Commercial Deals of the Fall Season
Despite rising interest rates, both office and retail sales have seen some of the biggest deals of the season in November. Heitman acquired the five-building Campus at Playa Vista for over $320 million, easily the largest office deal of the fall at almost $1,000 per square-foot. Playa Vista has seen quite a lot of office…
USA vs. Canada: Whose Housing Market is Better?
Finding a new home has always been challenging, and watching prices go up in North America over the last ten years is enough to scare even the most optimistic of us. The markets in the US and Canada are quite different, so who has it better? What can the average buyer expect when looking for…
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