NYC Real Estate News

New York’s public transport usage has risen to almost half the typical level before the coronavirus outbreak, a recovery that has yet to extend to the restaurant industry. Demand for trains, buses...

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The downward slide in mortgage rates produced a new milestone this week, according to Freddie Mac’s latest primary mortgage market survey. The 30-year fixed-rate mortgage averaged 3.07 percent for the week ending July 2, down 0.06 percentage points from the week before and down 0.68 points year-over-year. It is the lowest rate on record since the survey began in 1971. “Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year

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A New York state plan to redevelop the neighborhood surrounding Penn Station would clear the way for more than 14 million square feet of new offices, a massive addition of space that would accelerate...

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UPDATED: July 2, 2:20 p.m.: A decade after starting Nestio to help landlords manage their rental portfolios, co-founder Caren Maio is stepping down as the company’s chief executive. In a widely-shared email, Maio said the company was rebranding as Funnel, and that COO Tyler Christiansen would take over as CEO. Maio will move into the role of president and chairman. “This is just the beginning,” she promised, adding that the company hit an “inflection point”

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The Manhattan market is facing a reckoning of sorts as the last pandemic-ridden quarter comes to a close, according to an analysis of broker reports.  As and grab their cash as they navigate an...

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Lemonade shares soared in their first day of trading, making for a sweet initial public offering. The startup insurance company's stock closed at $69.21 in its debut on the New York Stock Exchange...

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A little more than two months after disclosed that 50% of tenants weren’t paying rent in apartments it has lent to, the Brooklyn-based lender agreed to be acquired by Long Island’s Bridge Bancorp in...

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A team of developers is planning a $2 billion, 2.7 million-square-foot mixed-use development in Astoria. Kaufman Astoria Studios, Silverstein Properties and Bedrock Real Estate Partners unveiled their plans Wednesday for the Queens megaproject, which they’re calling “Innovation QNS.” The development will cover five blocks at the intersection of Steinway Street and 35th Avenue and will include 2,700 units of mixed-income housing, the developers announced. Of those units, 700 will be set aside as affordable housing.

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Caffe Reggio in Greenwich Village; Photo by Eden, Janine and Jim on Flickr More than 20 streets closed to cars citywide will now be dedicated to outdoor dining, Mayor Bill de Blasio announced on Thursday. Starting this weekend, more than 2.6 miles of the open streets plan will feature “open restaurants,” with more miles expected to roll out later this month. The 22 pedestrianized streets can be used by restaurants on Friday nights and weekends only. The announcement comes a day after de Blasio and Gov. Andrew Cuomo said the city would not resume indoor dining, which falls under phase three of […]

Nearly a tenth of the city's economy comes from the nonprofit sector, according to a new report from Comptroller Scott Stringer. That’s $77 billion, according to the report, which analyzed nonprofit...

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