Brooklyn Residents, Developers Brace for L-Train Shutdown
The news of the L-train shutdown caused strong reactions among Brooklyn residents, but not only them. Brokers, developers, landlords and business owners alike are worried about what the shutdown will mean for their businesses. So far, it looks like everyone needs to stay on top of the situation if they want to get through those…
SkyView Parc is the #1 Best-Selling Building in NYC for Q3 2017
In our recent ranking of the priciest neighborhoods in New York City in Q3 2017, Manhattan had a total of 24 neighborhoods in the top 50, of which 8 were also in the top 10. At the same time, Brooklyn performed admirably, with 21 of the 50 spots on our list, and claiming the remaining two…
Flatiron Ranks #1 among the Priciest Neighborhoods in NYC
Key Takeaways: The Flatiron District is the most expensive neighborhood in NYC in Q3 TriBeCa occupies the second spot, with sales activity dropping considerably The exclusive Central Park South rounds out the top 3, with a median sale price of $3.4M Red Hook is Brooklyn’s most expensive neighborhood in Q3, overthrowing DUMBO In its most recent…
Greystone Secures $21M Refi for Brooklyn Multifamily Portfolio
Greystone recently provided $21 million in refinancing for an eight-property multifamily portfolio in Brooklyn. Anthony Cristi of Greystone’s New York office is the one who originated the Freddie Mac loan for the refinanced properties. According to portfolio owner Steve Lubin, Greystone was the preferred choice when it came to the refinancing process and getting all…
NYC Takes 15 Spots in the Top 20 Tax Exempt Properties in the US
A recent nationwide study carried out by CommercialCafé, and based on PropertyShark data, revealed the top 20 tax-exempt properties in the U.S. NYC stole the show, with a total of 15 tax-exempt properties featured in the top 20. Given the fact that many historic buildings located in Manhattan are tax exempt, we weren’t really surprised when…
From Industrial to Office Space – The Brooklyn Navy Yard Revival
A new era for the Brooklyn Navy Yard A new project is underway at the Brooklyn Navy Yard. The Rudin family, one of New York’s oldest real estate dynasties, has teamed up with Boston Properties Inc. to develop a new 675,000-square-foot office building on Brooklyn’s waterfront. Designed by S9 Architecture, the new office development dubbed…
When Will Harlem’s Townhouse Market Catch Up with Manhattan Prices?
The average sale price/sqft of townhouses in Harlem climbed 171% since 2009 Downtown Manhattan has the highest average sale price per square foot Harlem records a 15% average yearly growth rate – if current pace continues, it could catch up with Manhattan’s average by 2028 Harlem is clearly undergoing some quite dramatic changes and the…
Land Use Committee Greenlights Midtown East Rezoning
Manhattan Skyline Gearing Up for a Major Makeover The iconic skyline of Midtown East is gearing up for a major makeover. Landmarks such as the Chrysler Building are at risk of being overshadowed by megatowers – and according to Justin Davidson, architecture critic for New York Magazine, the danger is now more real than ever….
NYC Rental Market Hottest as Construction Hits 20-Year High
New York City remains one of the hottest rental markets as apartment construction hits a new record high this year. Apartment construction has been unstoppable, with thousands of new buildings under development all over the country. Is it enough? Is it too much? What will the impact of this volume be on the market? New…
HFF Arranges $28M Refi for Brooklyn Mixed-Use Building
HFF has recently arranged a $28 million refinancing for the mixed-use building located at 110 4th Ave. in Brooklyn’s Boerum Hill. The firm placed the 10-year, fixed-rate, interest-only loan covering 75 percent of the property value with Jefferies LoanCore LLC, per PropertyShark data. A debt placement team led by HFF Managing Director Scott Aiese represented…
TriBeCa Still #1 Most Expensive NYC Neighborhood
Following a period of stabilization, the second quarter of 2017 brought a period of renewed price growth to some areas of New York City, particularly to its most expensive neighborhoods. Median sale prices trended upwards in most of the city’s 50 most expensive neighborhoods. Only 11 areas saw prices slide in Q2, a significant change from Q1,…
Top 50 Best-Selling NYC Buildings of All Time
New York is a city of condo buildings whose names resonate almost as strongly as those of top celebrities. As older, established condo buildings are now joined by new developments that are changing the city’s skyline and making headlines thanks to units that go for dizzying prices, we set out to find out which are the…
Top 10 Best-Selling NYC Buildings in Q1 2017
The performance of NYC’s residential market in the first quarter of 2017 was heavily impacted by closings at new condo developments which propelled median sale prices to record highs in many parts of the city. We thought we’d take a closer look at the most popular new NYC buildings in Q1. A recent analysis by PropertyShark…
Asian Investment Takes Up 15% of Top 50 Office Deals in 2016
Top destinations for office investment: New York City, Boston and Los Angeles Largest single-asset sale of the year: AXA Equitable Center in Manhattan trades for $1.9B Asian investment accounts for 15% of the year’s top 50 office deals Blackstone crowned most active office buyer of 2016 According to a new analysis released by our sister…
Brooklyn: Foreclosures Climb in the East and Home Price Gaps Deepen
Among headlines that crown Brooklyn as one of the most expensive real estate markets in the US and that announce record-breaking sales of luxury properties, PropertyShark’s 2016 foreclosure report revealed quite an intriguing trend: the number of new foreclosures in the borough has been steadily climbing for the past 5 years. We decided to investigate further and…
Top 10 Best-Selling Buildings in NYC 2016
2016 was a great year for some of New York’s largest developers looking to finally cash in on their investments, as several high-profile developments completed construction work and closed a large number of deals initiated in the past 3 years. We took a look at the residential market of 2016 and singled out the developments…
Debra Hoffman from Town Residential: Prices Are Starting to Level Off in the Sales Market
We’re happy to start off 2017 with a new interview in our series! This time, Debra Hoffman from Town Residential shares with us both her assessment of the year that has just ended and her predictions for 2017. Debra believes there’s a lack of inventory in the $1M to $3M sales market, and if priced…
Agent Interview with Diana Kosov: Find the Key Tools for Your Success
Building a real estate career can seem overwhelming, with so much to juggle. You balance a budget, navigate the contract process, research the market and market your business. All this while staying available and flexible to your clients and their needs. PropertyShark partner Leap EDU, premier real estate licensing and continuing education school, offers some insight. They sat…
10 Most Expensive Homes Sold in Brooklyn 2016
Brooklyn’s seemingly never-ending price hikes held course in 2016, particularly in the second half of the year, when the median sale price across all residential properties in the borough hit $650,000. Looking back, several homes in the borough were worth a whole lot of money last year, with some condos and townhouses in northwestern neighborhoods selling at prices one…
Real Estate Pros Say East New York and Bushwick Will Be the Hottest Neighborhoods in 2017
With the perspective of a new year in mind, PropertyShark surveyed its clients, NYC real estate professionals, to find out their market predictions for 2017. Some of the results might come as surprising so read on to find out more. Here are just some of the key findings: According to the pros surveyed, NYC’s most in-demand neighborhoods…
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