NYC Real Estate News

Renters have been streaming into New York City in recent months—some are returning to the city after being away during the pandemic, others are new, drawn to the city’s relatively lower rents. Either way—these renters need to furnish apartments quickly. Many of them are turning to local...

Hospitality mogul David Grutman and rapper and entrepreneur Pharrell Williams could use some good vibes for their Goodtime Hotel. The hotel, which opened at 601 Washington Avenue in April, is at risk of losing parts of its conditional use permit following nearly 30 noise violations. The Miami Beach Planning Board will hold a hearing over revoking the entertainment permit for its rooftop pool deck on Sept. 28. The motion to hold a revocation hearing was

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A new tenant at 545 Madison, and NYC Housing Partnership picks up 14 buildings

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The Cuomo administration is said to be working with state unions to implement the mandate

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As the Delta variant fuels a nationwide surge in Covid cases, employers’ return-to-work plans are being thrown into a state of flux. This week, the CDC updated its public health recommendations, imploring the fully vaccinated to resume wearing masks indoors in “substantial or high-transmission” areas — classifications that currently cover more than 60 percent of U.S. counties. Office tenants are now preparing to deal with the fallout, according to the New York Times. Many employers

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Citizens Financial Group moves in as the city economy shows continued improvement

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The second-quarter performance of New York’s largest multifamily lender shows the city’s rental market has regained its footing. New York Community Bank reported 4 percent annualized growth in its multifamily loan portfolio last quarter to $32.6 billion. In the same period, multifamily loan originations jumped by 42 percent to $2.1 billion, powering a 21 percent overall increase in originations. Meanwhile, rent collection by the bank’s loan recipients was steady at pre-pandemic levels and loan deferrals

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Other companies are also taking a hard-line stance, amid the increasing infection rate

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One of the nation’s largest office landlords isn’t worried about the rise of remote work. While the continued work-from-home trend will have a long-term impact on the office market, the threat is “overstated” for landlords of Class A office space, Boston Properties CEO Owen Thomas said Wednesday. “The market is concerned … We acknowledge that’s the case,” Thomas said on the REIT’s second-quarter earnings call. The expansion of remote work has been accompanied by a

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