Disney Acquires Building Rights at 4 Hudson Square Site for $650M
The Walt Disney Co. acquired development rights for 4 Hudson Square in a deal valued at $650million. Spanning a full city block, the area is currently occupied by 304 Hudson Street, 137 Varick Street and 30 Vandam Street. Â The three buildings are currently housing retail and office tenants. The Lower Manhattan campus is owned by…
TriBeCa, SoHo Still Most Expensive Neighborhoods in New York City, but DUMBO Gains Ground With 37% Price Increase
Key Takeaways: TriBeCa entrenched as #1 most expensive neighborhood in NYC, despite 26% Y-o-Y price drop With a $2.95 million median sale price, SoHo remains firmly in second place Brooklyn’s Homecrest sees sharpest median sale price increase at 80% At #3, DUMBO is Brooklyn’s priciest neighborhood The Upper East Side is NYC’s most active neighborhood…
Does NYC Still Have Room for Growth? A Study on Undeveloped Land in Major US CBDs
COMMERCIALCafé conducted a study looking at the amount of vacant land in 25 major U.S. downtowns. Using combined data sets from Property Shark, Yardi Matrix and other government records, they determined the amount of undeveloped land, construction projects that were completed in the past five years and future development pipelines in the urban cores of…
New York Dominates the Top 100 US Property Taxes in 2017
Now that this year’s tax filing season has passed, COMMERCIALCafé decided to put together the 2017 top 100 U.S. property taxes, as a follow up on their 2016 list, to see if any notable year-over-year differences in ranking, new entries or new contenders for the top spots would turn up. Just like last year, the…
What Do Luxury Apartments Rent for in the Top 30 Largest U.S. Cities?
The past few years have seen a spectacular increase in the number of luxury apartment buildings cropping up in major cities across the country. Apart from developers investing in high-end property for the sake of better returns, growth in the luxury apartment rental sector is also prompted by demand from newly emerging renter groups. From…
SL Green Gains Leasehold Interest in 2 Herald Square
SL Green, one of New York City’s largest commercial landlords has announced its successful bid for the leasehold interest at 2 Herald Square. The company has also agreed to enter a joint venture with an Israeli-based institutional investor. The owners did not disclose their bid amount. The 362,191-square-foot Midtown Manhattan office space was previously owned…
Was Buying an NYC Home a Good Investment During the Past Decade?
Buying a home is on almost everyone’s bucket list, but as soon as you find the perfect place, the all-too-familiar question pops up: is this investment worth it? Ever since the 2008 market crash, homebuyers think twice before spending their hard-earned money and savings on a down payment. Banks have also become more cautious and…
SL Green to Sell Manhattan Office Condo for $633M
SL Green, New York City’s largest office landlord, and its joint venture partner Ivanhoe Cambridge, have entered into a contract to sell their leasehold interest in the office condominium at 1745 Broadway. The new owner of the Midtown Manhattan office space will be an institutional client of Invesco Real Estate, which will snatch the office…
Expert Interview with a Dynamic Real Estate Duo: Augusto Bittencourt and Jared Barnett
For the latest interview in our series, we had the pleasure of talking to a very interesting and dynamic real estate duo: Augusto Bittencourt and Jared Barnett from Town Residential. Both had previously worked in different industries and found common ground in the competitive Manhattan real estate market. They shared with us how they spend…
TriBeCa Remains NYC’s Most Expensive Neighborhood, Despite Prices Dropping 30%
Key Takeaways: Even with a 30% y-o-y decrease, TriBeCa pulls through as NYC’s priciest neighborhood A $3.2 million median sale price lands SoHo its usual second spot Brooklyn’s Fort Greene sees the sharpest median sale price increase: 131% y-o-y DUMBO remains the only Brooklyn neighborhood in the top 10 With a $2.3 million median sale…
Silverstein Properties Set to Snatch ABC’s Upper West Side HQ for $1B
Silverstein Properties is set to add the American Broadcasting Co.’s (ABC) New York City campus to its portfolio. The full-service real estate firm is in contract to acquire the media network’s Upper West Side office headquarters from its parent company, The Walt Disney Co. According to the Commercial Observer, Silverstein is going to pay more than…
Buying or Selling a Home Using Bitcoin: Is It Worth It?
Unless you’ve been living under a rock for the past year, chances are you might have heard of Bitcoin or came across the term ‘cryptocurrency’ at some point. Unregulated by banks, these encrypted digital currencies managed to penetrate almost every market in 2017, including real estate. Despite transactions being considered safe, the crypto market in…
IEX Tower-Hops Again within WTC Complex
IEX is relocating once again within the World Trade Center (WTC) complex in New York City’s bustling Financial District. The upstart stock exchange platform will leave its headquarters at 4WTC to move inside 3WTC, currently under construction. The company has recently signed a 15-year lease for the entire 58th floor of the 80-story mixed-use high-rise…
IBM Triples Office Presence in New York City’s Union Square
IBM is set to triple its Union Square presence by expanding its footprint at 19 Union Square West, in the Flatiron District neighborhood of New York. The tech giant has recently signed a 27,699-square-foot lease for three floors of the building—floors 9 through 11. According to The New York Post, the asking rent was $80…
This LIC Waterfront Penthouse Embodies High-Class Living in Queens
Queens’ Long Island City has come a long way from its industrial days. Now, the neighborhood’s skyline is packed with high-rises and cranes, and the ongoing residential growth is nowhere near its end. Development stretches far beyond just the banks of East River; however, the waterfront is still the cream of the crop in LIC,…
Discover the Most Exclusive Penthouse in Midtown West
Perched atop the luxurious Manhattan View at MiMa tower, Penthouse 3C is one of the most desirable properties available in Midtown West. The 4-bed residence offers sweeping views of the Empire State Building, One World Trade Center, Hudson River, Hudson Bay and far beyond, making this luxurious unit the perfect residence for business travelers looking…
REDinNYC and PropertyShark Kick Off Spring 2018 With 1,000+ Attendee Networking Mixer
We recently partnered with REDinNYC and managed to pull off a record-breaking event on the 1st of March in New York City, with an attendance of more than 1,000 real estate professionals. The goal of the event was to bring together people in the industry and establish connections, as well as support and promote businesses….
Take a Glance at What Living in a Condo above Madison Square Park Looks Like
Packed with history and culture, the Flatiron District ranks as the 4th most expensive neighborhood in New York City, with a median sale price of $2.3 million. A sole corner apartment with breathtaking views of Manhattan is currently up for grabs in the area, at the elusive One Madison tower. Bringing intimacy to urban living, the…
Go Inside the TriBeCa Penthouse Redefining Indoor-Outdoor Living in Manhattan
Once the haunt of artists, TriBeCa now reigns as the most expensive neighborhood in New York City, home to A-list athletes, music moguls and some of Hollywood’s hottest celebrities. With a median sale price of $4.68 million, TriBeCa has no shortage of upscale homes fit for the most discerning of buyers. This 3-bed penthouse apartment…
Top 10 Best-Selling Buildings in NYC 2017 – Queens Takes the Lead with Flushing Condos
2017 was a great year for the developers of the hottest residential projects in New York City. 7 of the 10 hottest selling projects posted triple-digit sales figures, with the city’s #1 best-selling building closing 463 sales last year. By comparison 2016’s hottest-selling property closed 145 deals. Overall Queens and Brooklyn claimed the top three…
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