NYC Real Estate News

Wed, 07/28/2021 - 17:24
A great Crain’s story should reveal something new about the future of power, money and property in New York City, says Editor-in-Chief Cory Schouten

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Wed, 07/28/2021 - 17:15

International sales were severely hampered by the pandemic in 2020, but buyers from several countries still managed to pluck down big bucks for U.S. homes. Barely more than 100,000 homes were sold to foreign buyers from April 2020 to March 2021, according to a National Association of Realtors analysis reported by Inman. Three in 10 home purchases by foreign buyers came from one of five countries, Inman reports. Unsurprisingly, buyers from neighboring countries made up

The post Here’s where foreign homebuyers came from and bought during pandemic appeared first on The Real Deal New York.

Wed, 07/28/2021 - 16:45

Commercial property sales are broadly rebounding to pre-pandemic levels across the country, though the same success isn’t being seen in select markets that dominated before the pandemic. Investors spent $144.7 billion on commercial property during the second quarter, nearly three-times the amount recorded in the same period last year, the Wall Street Journal reported, citing data from Real Capital Analytics. While it is unsurprising that more property was sold this year than in the early

The post Commercial property sales outpace pre-pandemic figures in Q2 appeared first on The Real Deal New York.

Wed, 07/28/2021 - 16:10

The pandemic hit the bottom line of Sam Zell’s Equity Residential pretty hard, but the worst is finally in the rear-view mirror, executives of the real estate investment trust said Wednesday. “We acknowledge how badly our operations declined over the last 16 months,” said Michael Manelis, the chief operating officer, during an earnings call. “But the current recovery appears to be strong enough to both quickly recapture all that was lost in the pandemic and

The post Sam Zell’s Equity Residential reports recovery in rental occupancy appeared first on The Real Deal New York.

Wed, 07/28/2021 - 16:00

A San Francisco condo association that argued some of its owners were being “cooked” inside their homes settled with their building’s developers for nearly $10 million. The ruling, which could have an effect on future construction, blamed the designers of the high rise for failing to account for how hot the west- and south-facing units could become when sunlight hit their all-glass walls. “We found that the condominium’s inadequate ventilation failed to purge the heat

The post Nearly $10M settlement for “cooked” SF condo owners appeared first on The Real Deal New York.

Wed, 07/28/2021 - 15:58
Despite the mayor's promises of full-time school, details about back-to-school are spotty

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Wed, 07/28/2021 - 15:55
Despite privacy concerns, lawmakers say the bill will help eateries recover by providing insight into online orders

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Wed, 07/28/2021 - 15:53
The money could advance numerous New York City transportation projects 

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Wed, 07/28/2021 - 15:45

In three days, the federal ban on evictions is set to expire, allowing landlords in most states to take non-paying tenants to court. But property owners say they deserve more than the freedom to join a backlogged docket. They want money. The National Apartment Association, a landlord group, filed a lawsuit in federal claims court Tuesday demanding that the federal government compensate housing providers who have “suffered severe economic losses” during the eviction moratorium imposed

The post Landlords sue federal gov’t over rental losses during CDC eviction ban appeared first on The Real Deal New York.

Wed, 07/28/2021 - 15:35

Unibail-Rodamco-Westfield will look to sell its regional malls in the U.S. as it struggles to recover from the pandemic’s brutal impact on the retail sector. The Paris-based mall giant and investment firm posted a $652.6 million companywide loss for the first half of the year, it said in an earnings call Wednesday. That total still marked a significant improvement from the $4.6 billion loss it suffered in the second half of 2020. The firm’s coast

The post Unibail-Rodamco plans “radical reduction” of regional malls appeared first on The Real Deal New York.