Legal Agreements to Protect Landlords
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. When a landlord looks to make…
Central Business Districts vs. Urban vs. Suburban: Breaking Down 10 Years of Office Expansion in the US
Between 2008 and 2018, the U.S. expanded its office footprint by 682 million square feet, 370 million of which have been added in the top 20 markets. Using data from Yardi Matrix, a recent COMMERCIALCafé study looked closely at where this space was added—urban areas, suburban areas or central business districts (CBDs). The findings highlight…
New York: The Most Popular Place to Live for Baby Boomers
While the suburbs are usually known for their family-friendly environment, they are not the preferred living option for Baby Boomers. In fact, according to a study by RENTCafé, New York challenges sunny locations for the title of the most popular place to live for Baby Boomers. Reviewing the zip codes with the largest Baby Boomer…
Top Tech Companies Taking Manhattan Office Space in 2019
Tech companies are seemingly everywhere gobbling up major chunks of office space, especially in NYC’s most densely populated borough, Manhattan. Some of the companies making the largest impact are Amazon, Google, Facebook, Adobe, and LinkedIn. Amazon In February, Amazon walked away from plans to build its second corporate headquarters in Long Island City, Queens. The…
Yardi Matrix Special Report: Coworking Grows Steadily, NYC Leads the Way
In October, Yardi Matrix released its latest special report, “Shared Space: Coworking’s Rapid Growth Set to be Tested.” According to the findings, the coworking segment continued its growth in 2019, despite industry headlines being dominated by the struggles of The We Company. However, this rapid expansion is set to be put to the test in…
San Francisco and Bay Area Office Report Q3 2019: Sales Volumes Set Multi-Year Highs As Lease Rates Rise
Key Takeaways: 18 major office projects were completed in Q3 with 15 more expected by year-end Sales volume sets a 5-year record at nearly $2.7 billion in San Francisco Sales volume in the Bay Area set a multi-year high of more than $2.9 billion Lease rates continue trending upward with trophy vacancies in San Francisco…
Securing Space in NYC: Security Deposits & Down Payments
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. When looking to rent or purchase…
New York Apartment Construction Drops for the Second Year in a Row
Key Takeaways: New apartment deliveries down 8% Y-O-Y nationally; New NYC apartment deliveries down 33% Y-O-Y; Bushwick home to 8% of new apartment supply in NYC; 2019 marks the second year in a row in which apartment construction declines in New York metro. After 2018 saw the number of projected new apartments fall from…
Cove Property Group’s Hudson Commons Gets $724M Refi from Blackstone
On Monday, Cove Property Group announced the closing of a $724.2 million financing from Blackstone Mortgage Trust for Hudson Commons, its trophy office redevelopment located in Manhattan’s Hudson Yards. An Eastdil Secured team led by Grant Frankel, Phil McKnight and Ethan Pond represented Cove in the deal. “We are thrilled to provide senior mortgage financing…
Manhattan Office Report Q3 2019: Price per Square Foot Reaches $1,676, Trophy Leases Surge
Key Takeaways Wafra flips the Coca-Cola Office Building and nets $30 million in less than 30 days Class A+ office rents in Manhattan surge 9.5% month-over-month Office sales prices reach a four-year high of $1,676 per square foot 3 million square feet of new office inventory set to hit the market by year-end Most signs…
Facebook Officially Signs Lease for 1.5M SF at Hudson Yards
Facebook has officially signed a lease for over 1.5 million square feet of Manhattan office space at Hudson Yards, after months of rumors about the company’s interest in the location. The tech behemoth will be taking over 30 floors in three of the Hudson Yards buildings, developers Related Cos. and Oxford Properties Group announced last…
Top Most Expensive U.S. Zip Codes in 2019
While 11 states rank, California claims most expensive zip codes in any city, county or metro with San Francisco, L.A. County and Bay Area.
Are NYC Pieds-a-Terre Facing Additional Taxation?
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. New York City is always looking…
Multifamily Sales Volume Declines City-Wide, But Gains 26% Y-o-Y in Brooklyn
Key Takeaways: City-wide multifamily sales volume down 60% Y-o-Y. Brooklyn sales volume climbs 26% Y-o-Y. NYC price per unit gains 26% over year-ago figures. Top multifamily sale in Manhattan fetches $53 million. YTD unit volume drops 65% in Queens. Sales activity down 60% in the Bronx. As New York City’s commercial real estate market adjusts…
Hudson Valley Residential Price Evolution 2014-2018: Prices Contract in 39% of Hudson Valley Markets
Key Takeaways: Stanford leads Hudson Valley price evolution with 36% median growth. Deerpark undergoes biggest price contraction at 27%. Sales activity more than doubles in Union Vale and Dover Town. At $1.85 million, Rye has the highest median sale price in the Hudson Valley. Located on the doorstep of one of the most dynamic real…
Purchasing Real Estate Under an LLC: No Longer an Option?
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. The New York City real estate…
NYC Multifamily Market Continues Slowdown in September, Y-O-Y Sales Volume Declines 76%
Key Takeaways: September slowest sales month for NYC multifamily, down 51% Y-O-Y Queens doubles September sales volume Bronx prices hit lowest figure in 18 months YTD unit volume down 74% in Brooklyn Y-O-Y sales volume falls 81% in Manhattan City-wide sales volume drops 76% Y-O-Y New York City’s new Housing Stability and Tenant Protection Act…
5 Best Coworking Spaces in TriBeCa
At a time when coworking spaces are at their peak, it can be challenging to pick the right shared office that is in line with your personal needs and professional aspirations. And, because the global growth of coworking is even more prevalent in larger cities, it can be quite overwhelming to search through the myriad…
Due Diligence for NYC Buyers: 6 Items to Review Before a Purchase
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. It can take buyers a long…
10 Best Coworking Spaces in Queens
New York has been seized by the popularity of coworking hubs, with a new office opening its doors every 7 days. With such a massive supply of shared office spaces, it’s easy to become overwhelmed by the abundance of options. So far, Manhattan has attracted the most coworking offices—leading the pack of the five boroughs…
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