NYC Real Estate News

Thu, 09/10/2020 - 08:00

Are there 15,000 people who want to live in Manhattan? Another historic surge in the borough’s empty apartments last month underscores the troubles facing landlords across the city. Manhattan’s vacancy rate climbed to 5.1 percent in August, according to Douglas Elliman’s monthly rental report produced by Miller Samuel Real Estate Appraisers & Consultants. It’s the first time Manhattan vacancy has reached this level in the 14 years that Miller Samuel has tracked its rental market,

The post Manhattan apartment vacancy smashes 5% barrier appeared first on The Real Deal New York.

Thu, 09/10/2020 - 08:00
Construction is now several floors above street level at 601 West 29th Street, a 58-story residential skyscraper in West Chelsea on the border with Hudson Yards. Known as Tower A in a two-building development along with 606 West 30th Street, the 695-foot-tall building is designed by FXCollaborative and developed by Douglaston Development.
Thu, 09/10/2020 - 07:30
A final rendering has been released for a forthcoming two-building condominium development at 37-24 30th Street and 37-28 30th Street in the Dutch Kills section of Long Island City. Designed by COSTA Architecture & Engineering, the structures will stand seven stories and contain 32 and 33 units respectively. Residential area across both buildings will measure 15,926 square feet.
Thu, 09/10/2020 - 07:30

The rise of remote work puts cash flows for U.S. office real estate investment trusts at risk in the near and long term, according to a recent report from Fitch Ratings. Trepidation about the future of the U.S. economy has led companies to sign fewer and shorter leases, which hurts cash flows for office REITs in the near future. Moreover, the broader shift toward remote work — reflected by the moves of tech giants such

The post Remote work threatens cash flows for office REITs appeared first on The Real Deal New York.

Thu, 09/10/2020 - 07:00

Real estate tech stocks rallied Wednesday after a three-day tech rout roiled the market. After the market closed yesterday, Zillow stock was up 2 percent while CoStar climbed 1.44 percent. Redfin rose 6.85 percent and eXp World Holdings was up 10.55 percent. Two SoftBank-backed companies that went public this summer — Lemonade, an insurance tech firm, and KE Holdings, a Chinese real estate platform also known as Beike Zhaofang — were up 6.36 percent and

The post No “rout” about it: Real estate tech stocks rebound appeared first on The Real Deal New York.

Thu, 09/10/2020 - 07:00
Another month, another record number of empty apartments in Manhattan. The borough had more than 15,000 apartments available for rent in August, its highest amount of vacant units in more than 14...

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Thu, 09/10/2020 - 07:00
Permits have been filed for an 18-story residential building at 26-25 4th Street in Astoria, Queens. Located at the intersection of 26th Avenue and 4th Street, the lot is closest to the Astoria Boulevard subway station, serviced by the N and W trains. Solomon Feder under the Fourth Development Holdings LLC is listed as the owner behind the applications.
Thu, 09/10/2020 - 06:30
Permits have been filed for a three-story residential building at 82 Milford Street in East New York, Brooklyn. Located between 75th Street and 76th Street, the interior lot is close to the Norwood Avenue subway station, serviced by the J and Z trains and the Euclid Avenue station, serviced by the A and C trains. Mario G. Zhingri of Fianzhin Builders Inc is listed as the owner behind the applications.
Thu, 09/10/2020 - 05:30
Plus: EmblemHealth, Somos ink value-based deal Northwell's Feinstein Institutes designated key aging-research center, gets $1.7M to fund pilots Covid-19 challenges Montefiore's...

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Thu, 09/10/2020 - 05:00
After leaving Queens for Long Island, Paolo and Christian Acquista felt stranded. So they plotted their return to the city, this time to Brooklyn. Which of these options would you choose?