NYC Real Estate News

Wed, 09/23/2020 - 13:08
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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Wed, 09/23/2020 - 13:00

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.

Wed, 09/23/2020 - 12:59
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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Wed, 09/23/2020 - 12:54
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 […]
Wed, 09/23/2020 - 12:46
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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Wed, 09/23/2020 - 12:39
Wall Street won big buying up homes during the foreclosure crisis and renting them out. Now, it’s headed back to the suburbs in hopes of scoring again. With the pandemic driving demand for larger...

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Wed, 09/23/2020 - 12:39
The Metropolitan Opera will remain shuttered for the entire 2020–21 season, the iconic venue said Wednesday. The Lincoln Center opera house will remain dark at least through next September. “This...

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Wed, 09/23/2020 - 12:30

The final week of summer saw a surge in demand for mortgages from homebuyers and homeowners alike. An index tracking the weekly volume of purchase loan applications increased 3 percent, seasonally adjusted, from the prior week. The Mortgage Bankers Association metric, known as the purchase index, was up 25 percent year-over-year. It was the 18th consecutive week that the purchase index was higher than it was a year earlier. The average purchase loan size grew

The post Applications for home mortgages surged last week appeared first on The Real Deal New York.

Wed, 09/23/2020 - 12:30
Borough Park, Brooklyn; Photo via Wikimedia Urgent action is required in four areas across Brooklyn and Queens where there has been a serious uptick of positive coronavirus cases, Mayor Bill de Blasio said Wednesday. The city’s Health Department identified a new cluster in Midwood, Borough Park, and Bensonhurst, which officials are calling the Ocean Parkway Cluster, after the avenue that connects the neighborhoods. Health officials have also found an increase in cases in Edgemere-Far Rockaway, Williamsburg, and Kew Gardens. The new cases account for 20 percent of all cases citywide as of September 19. The Ocean Parkway Cluster has seen cases grow from […]
Wed, 09/23/2020 - 12:03
Rendering via TF Cornerstone A year-and-a-half ago, developer TF Cornerstone broke ground on their two-building, 1,194-unit project at Hunter’s Point South, located along the East River in Long Island City. Anchored by a new half-acre public park, the pair of ODA-designed towers will be 60 percent affordable. Today, a lottery launched for 185 of these low- and middle-income units, available to those earning 50, 130, and 165 percent of the area median income. The available homes range from $698/month studios to $2,704/month two-bedrooms. Rendering via TF Cornerstone The current lottery is at 5241 Center Boulevard, the smaller, 46-story south tower. Leasing for its remaining 209 […]