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…
Theatre District Median Home Prices Go Up 63% in Q1 2019, Queens’ Ditmars Surges 115%
Key takeaways: TriBeCa, SoHo remain #1 and #2 most expensive NYC neighborhoods in Q1 2019 Garment District prices increase 49%, landing the neighborhood in the 3d spot Theatre District median reaches $1.7 million with 54 transactions The East & West Village prices declined 35% and 56%, respectively Queens’ Ditmars – Steinway median prices go up…
Brooklyn Foreclosures Drop 22% in Q1 2019, Bronx Foreclosures Up 28%
Key takeaways: NYC first-time foreclosure cases decreased 5% in Q1 2019 In Q1 2019, Queens had the highest number of unique cases: 315 foreclosures The Bronx had the largest increase in foreclosure activity, with a 28% surge With a 22% drop, Brooklyn foreclosures decreased the most among the five boroughs NYC lis pendens decreased 13%…
Savanna Nabs SL Green’s 521 Fifth Avenue for $381M
Last week, SL Green announced it has agreed to sell 521 Fifth Avenue to Savanna for $381 million. New York City’s largest office landlord owns a 50.5 percent in the 460,000-square-foot Midtown Manhattan office building. The deal is expected to close in the second quarter this year. Conveniently located in the proximity of Bryant Park…
The Carlyle Group Expands Lease at One Vanderbilt
SL Green has recently announced that The Carlyle Group expanded its 15-year lease at One Vanderbilt, planning to take over an additional 32,592 square feet of Midtown Manhattan office space here. The deal brings The Carlyle Group’s total square footage at the building, currently under construction, to 127,744. The new 1,401-foot office tower branded One…
Most Expensive Street in the Hamptons Posted a $15M Median Home Sale Price in 2018
Even though the number of home sales in the Hamptons has slowed, there was no shortage of houses trading for over-the-top prices in 2018. As the median home sale price in the Hamptons dropped below $1 million last year, two streets actually saw median sale prices pass the $10 million mark. Truth be told, buying…
Median Home Prices Along the Bronx’s Grand Concourse Increased 68% in the Last 5 Years
Once dubbed the “Park Avenue of the Middle Class”, the Bronx’s Grand Concourse has become something of a phenomenon ever since the thoroughfare opened in 1909. Fast-forward 110 years, and the desire to live here has become greater than ever. The elevated housing demand in the neighborhoods around the boulevard pushed the median home sale…
Lyft to Join Peloton at New Hudson Commons Redevelopment
Ridesharing giant Lyft has inked a 100,638-square-foot lease at Hudson Commons, a creatively-repositioned Manhattan office tower located at 441 Ninth Avenue. The company will join Peloton, which signed a 312,200-square-foot lease here in November. The building, which is now 63 percent pre-leased, is expected to be delivered this summer. In December 2016, Cove Property Group…
Hewlett Packard Enterprise to Relocate NYC Offices
Hewlett Packard Enterprise has recently signed a 10-year lease for 17,945 square feet of Midtown Manhattan office space at SL Green Realty’s 461 Fifth Avenue. The company plans to relocate its current New York City offices from 556 West 22nd Street here. Hewlett Packard will take over the entire eighth and tenth floors in the…
How to Find Pre-Foreclosures in NYC & Nationwide
Learn how to find pre-foreclosures efficiently and discover new opportunities.
A Primer in Internal Revenue Code 1031 and the Art of the Deal for Real Estate Investors
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. In the metro New York area’s…
How to Find Foreclosures in NYC & Nationwide
Learn how to find foreclosures, REOs and auction results efficiently to discover new opportunities.
How to Conduct Due Diligence on NYC Foreclosures
Buying a foreclosure is by nature a risky business, and it’s easy for any buyer to end up over-paying for a property that is nothing like what they expected. The lack of information regarding the state of the property at the time of the auction can turn what seemed like a bargain into a money…
Mom-and-Pop Investor Nabs Three Nolita Retail Condos
Adelaide Polsinelli, Vice Chair of Compass, has recently completed the off-market sale of three retail condos located at 262-272 Mott Street, in the heart of Manhattan’s Nolita. The condos, consisting of 2,500 square feet, sold for $7,350,000, just under $3,000 per square foot. The buyer, a mom-and-pop firm, plans to occupy the space. The deal…
10 of the Greenest Buildings in New York City
Eco-friendly features in real estate can be attractive to investors, buyers, tenants, and other stakeholders. With constantly improving technology and materials that make green building design easier than ever before, we are seeing an influx in the number of green buildings in New York City. Check out 10 of the greenest buildings in the City…
What a Difference a Foot Makes: Encroachments, Easements, and Adverse Possession
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. While you might never think that…
Spaces Inks Lease for 84K SF at 31 Penn Plaza
Coworking firm Spaces signed a lease for 83,840 square feet of Chelsea office space at 132 West 31st Street, also known as 31 Penn Plaza. The IWG subsidiary will remain here for the next 15 years. The landlord, Vanbarton Group, inked three other leases in the building. Spaces will take over part of the ground…
The Rise and Fall of the American Downtown – A Look into the Home Price Evolution of the Nation’s Urban Cores in the Decade Since the Downturn
From a city’s economic engine to the center of political and administrative power. From cultural heart and nightlife hotspot to dilapidated buildings and high crime rates. From opulent penthouse suites to derelict homes. The downtowns of American cities, both big and small, have always been dynamic places that shifted with the times. From the early…
Three New Tenants to Move into Condé Nast’s Old Space at 4 Times Square
Three tenants have signed new leases or expansions amounting to 154,000 square feet of Midtown Manhattan office space at the Durst Organization’s 4 Times Square. National Cable Communications, Analysis Group and SS&C Technologies will be taking over Condé Nast’s former offices. National Cable Communications inked a deal for 65,000 square feet on the 11th and…
Top 10 Most Expensive Home Sales of 2018 in Upstate New York
There’s always something that grabs people’s attention when it comes to top 10 lists, especially when it’s about people paying exorbitant prices for luxury real estate in interesting locations. As 2018 came to a close, we thought about rounding up the top 10 most expensive residential sales in Upstate New York. The sale prices in…
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