NYC Real Estate News

Photo: Michael Appleton/Mayoral Photography Office on Flickr All workers employed by New York State will be required to be vaccinated against Covid-19 or get tested for the virus on a regular basis, Gov. Andrew Cuomo announced on Wednesday. The governor put in place an even more stringent mandate for state hospitals: all patient-facing healthcare workers must now be vaccinated, with no test option offered. The announcement comes days after Mayor Bill de Blasio rolled out a similar requirement for all city workers and as President Joe Biden plans to announce all federal employees and contractors must be vaccinated or submit to testing. Cuomo said his administration is […]

I am fine sweating through a summer without air conditioning, but my husband decided he is not, so we had to come up with a solution to cool off our New York City apartment. Our many fans just weren’t doing the trick anymore. We didn’t want to block our one living room window or compromise...

Banks are among the institutions taking advantage of a hot housing market by shedding mortgage risk with a new kind of bond. The bond shares the risk of mortgage and loan default with institutional investors. The bonds are backed by short-term loans made from banks to mortgage lenders, according to the Wall Street Journal. When people borrowing from those lenders default, bond investors essentially cover the loss. Banks are raising capital with the bonds —

The post Rise in home prices frees banks to offload mortgage risk appeared first on The Real Deal New York.

Reducing the match proportion would rightsize taxpayer investment

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Pigpen Theatre Co. performs in “The Amph”; Photo courtesy of Little Island A month-long arts festival featuring more than 160 events and 460 artists will take place in New York City’s newest public park next month. Called NYC FREE, the celebration will bring a variety of music, dance, and comedy performances to Little Island, the offshore park in Hudson River Park that opened this spring, over four weeks starting in August. The festival is the culmination of the state’s “NY PopsUp” initiative, which launched earlier this year to revive New York’s art and culture scene. NYC Free kicks off on Wednesday, August 11 […]

Douglas Elliman CEO Dottie Herman says New York City’s real estate recovery hinges on making the city safer (The Real Deal) Be prepared for bidding wars in rental buildings in the hippest neighborhoods within walking distance of reopening office buildings (The New York Times) Community...

The company purchases a house and rents it to the client until they can qualify for a mortgage

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In one of its biggest acquisitions ever, CBRE is paying $1.3 billion for a majority stake project manager Turner & Townsend. The world’s biggest commercial real estate services firm is acquiring 60 percent of the London-based company. The acquisition is expected to close in the fourth quarter, according to the Wall Street Journal and a press release, with Turner & Townsend’s leadership team remaining in place and retaining a 40 percent stake. The impetus for

The post CBRE pays $1.3B for 60% stake in London-based project manager appeared first on The Real Deal New York.

Home prices are gradually recovering in the Central American nation, but are still low enough to lure droves of buyers to the beaches.

Renters in Manhattan face the largest jump in rent in sizing up apartments—when going from one bedroom to two and two to three and so on—compared to any other city, according to a new survey. According to the data scientists at RentCafé, if you live in Manhattan and move into another...