American homeowners are doing something surprising: Despite record amounts of home equity available to them — an estimated $1.5 trillion worth — they are tapping into it less via home-equity credit lines (HELOCs) and cash-out refinancings. The big question is why. Are people simply getting more frugal? Or are other forces at work? Economists who specialize in housing aren’t totally sure, but everyone agrees: Homeowner behavior has changed from previous years. Cash-out refinancings use the […]
Listing images by Shannon Dupree; courtesy of Compass On the top floor of a brownstone at 111 Eighth Avenue in Park Slope and just one block away from Prospect Park, this one-bedroom co-op offers quintessential Brooklyn living for just $695,000. While a fifth-floor walk-up isn’t ideal, if you don’t mind the effort you’ll be rewarded with a cozy home filled with pre-war details, multiple built-ins, and lots of warm western light. The unit last sold in 2013 for $415,000. The living room features a gorgeous bay window, high ceilings, and a ceiling fan. A built-in desk with lots of shelving creates […]
Blackstone Group plans to change its corporate structure effective July 1 Blackstone Group plans to become a corporation in an effort to “make it significantly easier for both domestic and international investors to own [its] stock,” CEO Stephen Schwarzman said. The change in corporate structure will go into effect on July 1, the company said. The move follows in the footsteps of competitors KKR and Ares Management corp., which already changed their corporate status. News […]
Image via Flickr cc If you’re heading to the annual Easter Parade and Easter Bonnet Festival this Sunday—beginning at 10 a.m. at Fifth Avenue and 49th Street and marching up to 55th Street—you’ll want to take the E to Fifth Avenue-53rd Street, the N and R to Fifth Avenue-59th Street, the 4, 5, and 6 to Grand Central, or the 7 to Fifth Avenue. If you have other plans this weekend, check out our guide to planned service changes so you can get there with minimum headaches. There won’t be any 1 service between 137 Street in Manhattan and 242 Street in […]
The apartment was home to Barbra Streisand for more than three decades.
It seemed like the hotel project that couldn’t fail. But new documents filed as part of a state and federal lawsuits show that the owners of the NoMad hotel at 1170 Broadway neglected to repay more than $100 million owed to lenders and equity investors starting in late 2018, Commercial Observer reported. Andrew Zobler’s Sydell Group and Make It Nice own the hotel through a ground lease with the Haddad Organization, which is suing the […]
After years of false starts, the busy thoroughfare known for its gas stations and carwashes is seeing a construction frenzy of mid-rise apartment buildings.