With reduced lending options and sky-high operational costs, the rent-stabilized market in the Big Apple is facing a challenging future. While most have been focussed on the office category of the Commercial Real Estate Market CRE market, the owners of rent-stabilized apartments in NYC are experiencing a crisis as well. The strain of a restricted [...]
The year-over-year median price for a home on Long Island — excluding the Hamptons and North Fork — had not dropped in 10 years. Until last quarter. But the peninsula is still no picnic for homebuyers, as the market there and on the East End remains tight and rife with bidding wars, according to a [...]
The Federal Reserve has indicated that there is potential for further increases in interest rates during 2022 and this has led to speculation that there would be widening of cap rates; however, the relationship between changes to the federal funds rate and cap rates is not direct and instantaneous as the relationship between the federal [...]
According to the Green Street Commercial Property Price Index, commercial property prices tanked 13% from their peak in May, taking a 7.3% hit in October. Multiple CRE sectors are suffering double-digit losses; apartments, offices, healthcare facilities, and strip malls. Industrial properties fell by 17%, second only to shopping malls, which are down 24%. Still dodging and [...]
Today Governor Mario Cuomo of New York suspended Mortgage payments for 90 days. This is not a forgiveness of debt but instead the 90 days of payments will be added to the back end of the mortgage. Decisive move by the Governor to give relief to homeowners. "If you are not working, if you are [...]
As per Curbed, beginning Monday evening March 16th, eviction proceedings and pending orders will be suspended statewide until further notice as health officials work to curb the spread of COVID-19, Chief Administrative Judge Lawrence Marks wrote in the memo to court employees. The suspension applies to both residential and commercial evictions, Lucian Chalfen, a spokesperson [...]
According to the Real Deal, Amazon, the online retail giant has signed a 335,000-square-foot-lease with landlord SL Green Realty for a new location in the Hudson Yards neighborhood. Amazon said the new office will be home to employees from its consumer and advertising groups. Image Credit Architectural Digest It might not be a second headquarters [...]
Over the last couple of years there has been a growing buzz on the North Fork for many reasons, but the big talk is about all the big investors coming to the area buying up property. Eagle Point Hotel Partners, a hotel investment firm based in Manhattan, closed on its purchase of the 5.5-acre Soundview [...]
New York State recently passed the Housing Stability and Tenant Protection Act of 2019, which includes a variety of rent regulation changes. These changes have broad implications for landlords, such as imposing new limits on how much landlords can charge for security deposits, background checks, and late payment fees. While City landlords were infuriated by [...]
Real estate agents in Greece say that the main factors behind this massive spike in interest in Greek real estate aside from the improved financial stability in the market, is the expectation of considerable returns from short-term rentals and the success of Greece's Golden Visa program. Real Estate Investment In Greece The inflow of foreign [...]
