NYC Real Estate News

Wed, 05/27/2020 - 14:45

The reopening of the New York Stock Exchange trading floor Tuesday accompanied a burst of optimism in the stock market as the Dow rallied more than 500 points, or 2.2 percent. And real estate stocks helped power the increase. The FTSE Nareit All REITs index rose by 3.68 percent on Tuesday, outpacing the broader markets. The index had previously risen by 6.9 percent over the past week, with all REIT sectors — from data centers

The post REIT stocks rise as NYSE trading floor reopens appeared first on The Real Deal New York.

Wed, 05/27/2020 - 14:15

Chicago-based indie brokerage @properties has acquired a significant stake in Virginia-based firm Nest Realty, giving it a foothold in five additional states in the South amid an expansion push. Terms of the deal were not disclosed, but Nest Realty’s leaders Jonathan Kauffmann, Keith David and Jim Duncan will retain an ownership stake in Nest and continue to oversee day-to-day operations, the brokerages said in a joint statement. Nest will also continue to maintain its brand

The post @properties acquires stake in another Southern resi brokerage appeared first on The Real Deal New York.

Wed, 05/27/2020 - 14:01
Changes to a city tax credit "blindsided" builders of and could crush development of the SNL Development, a major builder of self-storage in the five boroughs, alleges its "entire business is in...

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Wed, 05/27/2020 - 14:00
Jack holds a box of face shields ready to be delivered When the Mayor and the Governor spoke out about the city’s dire need for PPE, many hero companies stepped up to the plate, including Industry City’s iMakr, an outpost of the world’s largest 3D-printing and 3D-scanning store. They knew they had enough equipment and the know-how to create simple but much-needed face shields, and so their three-man team in Brooklyn immediately got to work. To date, they’ve distributed more than 5,000 face shields to more than 20 local hospitals. Ahead, we chat with Jack Keum, iMakr’s business manager, to learn more about the […]
Wed, 05/27/2020 - 14:00

Landlords managed to yank nearly 8,000 apartments out of rent regulation using high-rent vacancy decontrol last year before that method was banned in mid-June. The deregulation of 7,878 units in five and a half months was a 70 percent increase from all of 2018, according to a new report by the city’s Rent Guidelines Board. About 61 percent of the apartments were in Manhattan. Until the state’s Housing Stability and Tenant Protection Act ended the

The post Vacancy decontrol of rent-stabilized units surged 70% despite new law appeared first on The Real Deal New York.

Wed, 05/27/2020 - 13:49
There’s trouble brewing for the city’s largest commercial landlord, SL Green Realty Corp. The REIT was sued by its L Brands retail tenants, Victoria’s Secret and Bath & Body Works, Monday. The...

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Wed, 05/27/2020 - 13:46
Photo by Phillip Capper via Wikimedia The Metropolitan Transportation Authority is boosting service on the Long Island Rail Road and the Metro-North as two more New York regions are officially cleared to start reopening. The Hudson Vallery region and Long Island have met the state’s metrics to begin reopening phase one businesses, Gov. Andrew Cuomo said this week. Starting Wednesday, the MTA will increase capacity by 26 percent on Metro-North with 18 additional trains during peak service, as well as add 105 Long Island Railroad cars to meet restored demand for service. “As the Hudson Valley reopens, Metro-North will continue to monitor conditions […]
Wed, 05/27/2020 - 13:43
Small businesses in New York are suffering badly, but now their struggle for survival is at the hands of the government’s arbitrary and foolish public policies, not the virus.  This isn't an...

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Wed, 05/27/2020 - 12:50
Real estate billionaire is suing his air-conditioning and heating contractor for a $12 million job that he claims was not well done at The Summit, his new luxury Midtown BLDG Management, Goldman's...

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Wed, 05/27/2020 - 12:50
Real estate billionaire is suing his air-conditioning and heating contractor for a $12 million job that he claims was not well done at The Summit, his new luxury Midtown BLDG Management, Goldman's...

To view the full story, click the title link.