NYC Residential Foreclosures Are Stabilizing (Q4 2018)
Key takeaways Queens, with an 8% increase Y-o-Y, was the only borough to see an uptick in foreclosures: Closing Q4 with 178 cases, Brooklyn saw a 6% Y-o-Y drop The Bronx foreclosures plummeted 54%, with only 90 properties heading to auction in Q4 Staten Island first-time cases increased a whopping 269% quarter-over-quarter Lis pendens cases…
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…
What Does a Broker Need to Do to Get Their Real Estate Commission?
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 in New Jersey, Pennsylvania, Massachusetts, California, Greece, and the United Kingdom. Real…
FAQ: Securing Your Broker’s Commission
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 in New Jersey, Pennsylvania, Massachusetts, California, Greece, and the United Kingdom. A…
Blackstone Expands Footprint at 345 Park Avenue
Blackstone is expanding its New York City headquarters at 345 Park Avenue. The giant signed a seven-year lease for an additional 149,000 square feet of Midtown Manhattan office space here, according to the owner, Rudin Management. The 1.9 million-square-foot, 44-story building at 345 Park Avenue boasts a LEED Gold Certification. Blackstone has been a tenant…
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…
Which are the Most Expensive NYC Neighborhoods of 2018?
Key takeaways: TriBeCa remains the priciest neighborhood, with a median sale price of $3.85M With 41 sales and a 41% increase Y-o-Y, the Garment District lands on the third place The Flatiron District (-32%) and Little Italy (-42%) both see major decreases Financial District prices plummet 34%, and median prices go below $1M Roosevelt Island…
Signature Bank Expands Footprint at 1400 Broadway
This week, Signature Bank inked a lease for an additional 20,691 square feet of Midtown Manhattan office space at 1400 Broadway, according to the landlord, Empire State Realty Trust. The deal brings the bank’s footprint at this location to a total of 111,872 square feet. In September, Signature Bank signed a 15-year lease for 91,980…
Jim Farah From Compass Talks Luxury Condo Supply Glut
New York’s luxury real estate market is currently seeing an excessively abundant supply of apartments with asking prices of $4 million or more. With both the sale prices and sale volumes seemingly dropping from quarter to quarter, there is considerable uncertainty in the market. A lot of sellers are going to have to accept losses…
Bloomberg Renews Lease at 120 Park Avenue
Bloomberg L.P. has recently renewed the lease for its 468,000 square feet of Midtown Manhattan office space at 120 Park Avenue. Former Mayor Michael Bloomberg’s media company will stay for at least another ten years in the building next to the Grand Central Terminal. The 630,000-square-foot, class A+ office property at 120 Park Avenue is…
Top Most Expensive U.S. Zip Codes in 2018
Editor’s Note: PropertyShark is saddened by the loss of life and property caused by the California wildfires. The article below is simply a presentation of hard data and in no way attempts to ignore the devastation that these areas are experiencing. Key takeaways: Atherton’s 94027 remains the #1 most expensive zip code thanks to a…
What Does Amazon’s LIC Base Mean for NYC Real Estate?
The internet has been in a frenzy ever since Amazon let the cat out of the bag and officially announced its two new headquarters. The retail giant’s bold move split people into two camps, with arguments on both sides about whether Amazon’s descent on Long Island City and Arlington is actually good for the communities….
Law Firm Moses & Singer to Stay in the Chrysler Building for Another 15 Years
Law firm Moses & Singer renewed its lease at the Chrysler Building, planning to remain in the iconic NYC tower for another 15 years. The deal also allows for the 73,485 square feet of Midtown Manhattan office space it currently occupies there to be modernized and redesigned. The 1.3 million-square-foot, LEED Gold-certified skyscraper at 405…
10 Go-To Real Estate Photographers in New York City
There’s a lot that goes into selling a property, but one thing is true across the board: First impressions matter. Since many buyers get their first impression from an online photo, finding the right real estate photographer is a top priority. We’ve tracked down ten of the best NYC real estate photographers. Take a moment…
Google to More Than Double its NYC Offices by 2022
Google is growing its NYC footprint with a 1.85 million square-foot office expansion, enough space for more than 12,000 additional employees, reported the Wall Street Journal. The majority of the expansion would be at the planned St. John’s Terminal in the West Village. Alphabet Inc., Google’s parent company, is close to a deal to purchase…
Williams Lea Tag Takes 31K SF at The New York Times Building
Marketing and communications company Williams Lea Tag has recently inked a lease for 31,058 square feet of Manhattan office space at The New York Times Building. The U.K.-based firm plans to relocate some of its New York City offices there. The 52-story, class A+ building at 602 8th Avenue is owned by Forest City Realty…
Top 10 NYC Landlords Who Improved the Highest Percentage of Their Portfolio
Being a good landlord is not always easy, as it requires having to juggle several responsibilities at once. Landlords must constantly strive to keep their properties at 100% occupancy, build solid relationships with tenants and maintain their assets in decent condition. One might argue that one of these responsibilities is more important than the other,…
BounceX Takes 79K SF at 1WTC, Leaves The New York Times Building
Bounce Exchange, known as BounceX, will relocate its headquarters from its current location at 620 8th Avenue to One World Trade Center. The marketing technology firm signed an 11-year lease for 79,118 square feet of Financial District office space. Currently the tallest building in the Western Hemisphere, the 3.1-million-square-foot, LEED Gold-certified One World Trade Center…
SeatGeek to Relocate HQ to 902 Broadway
Last week, SeatGeek announced it will be relocating its headquarters to 72,800 square feet of Midtown Manhattan office space at 902 Broadway. The company, which helps fans buy and sell sports, concert and theater tickets through their mobile-oriented online platform, will be moving out of its previous location at 400 Lafayette Street. According to a…
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