NYC Real Estate News

The pandemic may have slowed real estate deals at the start of the year, but six months in, home sales have surged. Sales for existing homes reached a 14-year high in August, according to a report from the National Association of Realtors. Those sales — which include single-family homes, townhomes, condominiums and co-ops — rose 10.5 percent from August 2019 to a seasonally adjusted rate of 6 million homes per year. Incentivized by record-low mortgage

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Photo by Steven Pisano on Flickr Plans to rezone Industry City in Sunset Park are dead after developers behind the project decided to withdraw their application on Tuesday. As Politico New York first reported, the decision to pull out of the plan, first proposed six years ago, comes as developers were unable to convince Brooklyn residents and officials, particularly Council Member Carlos Menchaca, the local representative, to support the rezoning efforts. Supporters of the rezoning said it would have brought thousands of new jobs to the city, which currently is seeing an unemployment rate of about 20 percent because of the coronavirus […]

New York rents are falling and vacant units are piling up, but multifamily management startup Common is chugging forward.  The company has closed on $50 million in Series D funding from a...

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Mizuho Financial Group plans to trim office space in New York and London in anticipation that some staff members will keep working from home even when the coronavirus pandemic is over. Employees in...

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Global pricing and demand for office space will take almost five years to recover from the damage wrought by the pandemic, according to a report by Cushman & Wakefield. Vacancies worldwide are...

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Global pricing and demand for office space will take almost five years to recover from the damage wrought by the pandemic, according to a report by Cushman & Wakefield. Vacancies worldwide are...

To view the full story, click the title link.

The City Council is poised to extend a measure that protects restaurants and retailers who violate their leases. The Council on Wednesday will vote on a bill that prohibits the enforcement of personal liability provisions in commercial leases or rental agreements in cases where a default occurred between March 7, 2020 and March 31, 2021. The initial measure, which was sponsored by Manhattan Democrat Carlina Rivera and approved in May, only applied to defaults that

The post Restaurant, retailer lease protections poised for extension from City Council appeared first on The Real Deal New York.

Just a few days ago, the TikTok deal looked like a win for China. Now its state-run media are denouncing it as “an American trap” and a “dirty and underhanded trick.” The quick shift in sentiment...

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Photo by Seth Hoffman on Unsplash In an announcement that is sure to reverberate throughout the theater and performing arts worlds, the Metropolitan Opera said today that it will extend its COVID-inflicted closure and cancel its entire 2020-2021 season, not reopening until September of next year. As the New York Times, who first reported the news, said, the decision “sends a chilling signal that American cultural life is still far from resuming.” The Met Opera is the country’s largest performing arts organization. They last performed on March 11, and since April, their 1,000 full-time employees, which includes members of the orchestra and chorus, have been furloughed without […]

Some of Crain’s brightest rising stars in the New York business world will gather for a webcast to discuss what they have learned about mentoring--especially in the time of Covid-19.

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