Category : Featured

FeaturedResidential

Luxury apartments drive NYC sales prices to all-time high

REW
by REW1441
The average sales price of a New York City home hit $1,018,000 in the second quarter of 2016, a new all-time high. The Real Estate Board of New York (REBNY) said yesterday (Tuesday) that the million-plus price tag for all cooperatives, condominiums, and one-to-three-family dwellings is the highest since it...
FeaturedResidential

Red Hook’s clay soil is drawing developers looking to build on New York Bay

REW
by REW1781
On a recent Sunday afternoon, during a day of near-perfect weather, Hometown BBQ, a popular restaurant in Red Hook, Brooklyn, was packed with groups celebrating birthdays, families with young children splitting platters of brisket, and friends watching soccer games on a large pull-down screen in the dining room. This is...
Blackstone buys $1.16B office portfolio
Deals & DealmakersFeatured

Blackstone buys $1.16B office portfolio

REW
by REW1134
Hines Real Estate Investment Trust Inc. announced it will sell a $1.16 billion portfolio of office properties to feed the appetite of institution investors. An affiliate of Blackstone Real Estate Partners VIII will pay $1.16 billion for the West Coast properties as part of a liquidation of the REIT. “When...
De Blasio: Rent freeze ‘an act of fairness’
Deals & DealmakersFeatured

De Blasio: Rent freeze ‘an act of fairness’

REW
by REW1585
Mayor Bill de Blasio, who is currently facing a federal corruption probe, was quick to take advantage of some good news, cashing in on the political capital created by the Rent Guidelines Board’s decision to freeze rents for one million rent-stabilized apartments for the second straight year. “I’m convinced that...
CBRE gets employees, clients tooled up at Tech Day
FeaturedTechnology

CBRE gets employees, clients tooled up at Tech Day

REW
by REW5247
As part of a strategic initiative to ensure that its professionals are well-positioned to leverage the leading tools in real estate technology, CBRE Group Inc. hosted its first Tech Demo Day last week at its corporate office in East Brunswick, New Jersey. During the event, representatives from 12 innovative companies...
Deals & DealmakersFeatured

Brexit vote should draw Euro cash to the US, say experts

REW
by REW1429
Britain’s surprise vote to leave the European Union has caused global financial markets to drop dramatically. After it became clear that the “Leave” camp won the referendum known as Brexit, two days of losses wiped $3 trillion from stock markets around the world. The news was similarly bleak for currency...
Deals & DealmakersFeatured

Landlords threaten court action after two-in-a-row rent freeze

REW
by REW1436
A week after defeating the cityʼs water board in court, the RSA has warned it is prepared to go back to the judiciary to fight this weekʼs proposed rent freeze on over one million city apartments. “The RGB continues to implement Mayor Bill de Blasio’s political agenda, targeting apartment building...
Report: WeWork’s NYC footprint has grown by 6,258% since 2010
Deals & DealmakersFeatured

Report: WeWork’s NYC footprint has grown by 6,258% since 2010

REW
by REW1473
In spite of its growing number of competitors, WeWork has increased its New York City footprint by 6,258 percent since opening its first location six years ago, according to a new report from commercial real estate firm Newmark Grubb Knight Frank. In its June 2016 NYC NewTrends report, NGKF said...
State releases small portion of $2B promised for housing
Deals & DealmakersFeatured

State releases small portion of $2B promised for housing

REW
by REW1403
State officials approved $150 million in funding for affordable and supportive housing, a fraction of the $2 billion in the state budget that Gov. Cuomo promised for such projects. At the end of the legislative session over the weekend, Cuomo, along with Assembly Speaker Carl Heastie and Senate Majority Leader...
Judge rules against NYC water rate hike, $183 credit to homeowners
Deals & DealmakersFeatured

Judge rules against NYC water rate hike, $183 credit to homeowners

Linda O'Flanagan
by Linda O'Flanagan1154
A judge has ruled against a plan by the city to hike water rates and give homeowners a $183 bill credit. Saying the proposed rebate was “designed to accommodate the mayor’s political agenda and provide a windfall to certain homeowners,ˮ Justice Carol Edmead ruling against the New York City Water...