Are senior homeowners preventing millennials from buying houses? Could the decisions of millions of older owners to “age in place” rather than sell their homes explain why millennials are lagging behind in homeownership? A provocative new study from federally chartered mortgage investor Freddie Mac suggests the answer may be yes. “Who is living in those homes that millennials might otherwise have bought?” ask the study’s authors. Their answer: baby boomers, war babies and people born […]
Credit: J Grassi; courtesy of Prospect Park Alliance The beloved community event known as the Prospect Park Soiree is coming back for its third year on Saturday, June 22; tickets are on sale now. This magical evening of dancing and dining under the stars for a one-night-only celebration of Brooklyn’s Backyard is brought to you by Prospect Park Alliance. Expect thousands of friends and neighbors to gather at the Peninsula in festive attire; bring your favorite bottle of wine and the feast of your choosing–the park will come through with the entertainment. Credit: J Grassi; courtesy of Prospect Park Alliance […]
In mid-November, condo units suddenly began to sell sight-unseen. Lines for open houses stretched around the block. Amazon’s announcement that it would create a massive campus on the shores of the East River sparked a buying frenzy in Long Island City, transforming a buyer’s market into a seller’s market overnight as sellers seized the chance to hike up prices and developers eyed new projects. “We are thrilled that the rest of the world is discovering […]
The first project in the long-awaited Halletts Point mega development in Queens will finally be available for rent this month.
The future of affordable housing in the city might look a little…funny. Developers looking for new opportunities are building on lots previously ignored because they were too small, too narrow, or just too weirdly-shaped, according to the New York Times. There are 10,516 acres of vacant land with residential zoning scattered across the city, although only a fraction of them can realistically be built on. But developers and architects are finding inventive ways to build […]