NYC Real Estate News

Wed, 04/08/2020 - 14:30

Most types of construction in New York have been halted for more than a week, an unprecedented statewide shutdown that presents a slew of financial and logistical challenges for builders. The potential consequences are manifold as development timelines are stretched indefinitely and workers on projects allowed to continue risk exposure to the coronavirus. While the long-term effects of the suspension remain to be seen, experts say projects will likely take a financial hit when it

The post Shutdown poses big risks for projects — even when it ends appeared first on The Real Deal New York.

Wed, 04/08/2020 - 14:07
Gov. Andrew Cuomo struck an optimistic tone Wednesday even as he acknowledged the grave reality that the death toll from Covid-19 reached a new single-day high. "We're making progress," Cuomo said...

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Wed, 04/08/2020 - 14:00
Photo by Chris Barbalis on Unsplash Early data released by New York City this week shows a disparity in deaths caused by coronavirus among people of color. Of those who have died from COVID-19, 34 percent were Hispanic and 28 percent were black, according to preliminary numbers from April 6. Those groups make up 29 percent and 22 percent of the city’s population, respectively. Table courtesy of the city’s Department of Health “The disparities that have plagued this city, this nation that are all about fundamental inequality are once again causing such pain and causing innocent people to lose their lives,” […]
Wed, 04/08/2020 - 14:00

The coronavirus pandemic continued to batter the U.S. hotel market in the first week of April. The national hotel occupancy rate plunged to 21.6 percent for the week ending April 4, a nearly 69 percent drop from the same time last year, according to data from hotel research firm STR. The rate for the last week of March was 22.6 percent. For the top 25 markets in the U.S., the drop was more staggering: Occupancy

The post Hotel occupancy rate across US drops to 22% appeared first on The Real Deal New York.

Wed, 04/08/2020 - 13:52
The economic pain caused by the coronavirus is translating to lower rent collections this month. Just 69% of U.S. apartment renters made payments through April 5. That compares with 81% who paid...

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Wed, 04/08/2020 - 13:31
Blackstone Group Inc. has finished raising a $10.7 billion fund that will target European real estate. The fund swells the firm’s uninvested capital for opportunistic property bets to about $30...

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Wed, 04/08/2020 - 13:27
Listing photos courtesy of Douglas Elliman “If These Steps Could Talk,” starts the listing. From 2009 to 2017, this utterly charming Cobble Hill townhouse flashed on television screens for Cat Greenleaf’s talk show Talk Stoop, where she interviewed celebrities from her own Brooklyn stoop. The brick rowhouse at 12 Wyckoff Street has just hit the market for $2,995,000, and the interior is even better than we imagined, with contemporary furnishings and art mixing with farmhouse-chic architecture. Cat designed much of the quirky decor herself, from a life-size chessboard in the backyard to a Harry Potter closet under the staircase to a dreamy Moroccan-style den […]
Wed, 04/08/2020 - 13:20

The ruling to shorten 200 Amsterdam may not ultimately force SJP Properties to deconstruct nearly half of the nearly complete building, but it has already ended the use of gerrymandered zoning lots to boost building heights. In 2017, SJP Properties and Mitsui Fudosan America secured approval to erect a 668-foot condominium building at 200 Amsterdam Avenue based on a convoluted zoning lot 10 times the size of the building’s actual footprint. Locals swiftly mobilized against

The post Comic news: Beheading 200 Amsterdam appeared first on The Real Deal New York.

Wed, 04/08/2020 - 13:10
The coronavirus has caused no shortage of and all over the city, but there are some organizations that have offered a glimmer of hope through the darkness. By offering wage increases and expanding...

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