2018 Market Predictions Survey: East NY Stays Hottest Neighborhood
What better way to start off 2018 than with a fresh set of real estate market predictions? Read on for insights on NYC’s real estate market, coming directly from the real estate pros that took our survey. Key highlights East NY and Bushwick unbeatable as NYC’s hottest neighborhoods; the Bronx enters the ranking with Mott…
Top Most Expensive US Zip Codes in 2017
Ranking the priciest zip codes in the US based on closed home sales It’s December which means it’s time for our annual report on the 100 most expensive zip codes in the United States. We consider our report to be the most accurate benchmark of the country’s most exclusive areas as we are the only…
TriBeCa and SoHo Remain Most Expensive Neighborhoods in New York City
Key Takeaways: TriBeCa reigns as the #1 most expensive neighborhood in NYC with $4.68M median sale price Boerum Hill pushes into top 10 with 54% price growth Brooklyn’s Fort Greene registers highest median price growth at 95% DUMBO remains Brooklyn’s priciest neighborhood at #6 in our top 50 The Upper East Side was the most…
East Coast vs West Coast: Which Sells More Million-Dollar Homes?
Besides the East Coast vs West Coast hip-hop rivalry of the 90s, the two coasts have long been subject to comparisons and cultural differences. When it comes to housing, they do have unaffordability and sky-high prices in common, as most of the nation’s priciest markets are located along the coasts. In many places around the…
Manhattan Office Sales Drop below $1B in Q3
Key Takeaways: Q3 closes with sales below $1 billion for the first time in 5 years Average prices rest below $1,000 per square foot 375 Hudson Street trades for $465M in largest deal of the quarter Roughly 3MSF of office space scheduled for delivery during Q4 Office Sales Volume Drops 67% Y-o-Y According to the…
Vancouver Real Estate More Unaffordable Than Manhattan, Study Finds
According to an analysis recently released by our sister website Point2 Homes, Vancouver is the most unaffordable market in North America, even more so than Manhattan. The study measured affordability in the 50 most populous cities in Canada, the United States and Mexico by dividing the median home sale price by the yearly median household…
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…
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