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…
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….
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