The recent history of Bronx real estate is a tale as much about demolition as development, but the future looks like an era of change. A borough of stark contrasts, its northern section, which includes Riverdale, has always been ritzy and is now staving off large-scale development with restrictive zoning regulations. While the borough’s less expensive areas have traditionally served as the steady source of housing for much of the city’s working class, the South… [more]
With an ample supply of empty industrial buildings and a smattering of picturesque town homes, Mott Haven in the South Bronx would seem to have the qualities needed to be the next Williamsburg. It has a booming, though tiny, antiques district and a section of residential apartments along Bruckner Boulevard near Lincoln Place, the result of a five-block rezoning done almost a decade ago. Just north of that is a concentration of about 250 townhouses… [more]
Some of the briskest development in Manhattan may soon happen on the far East Side, past First Avenue, in moves that would alter the landscape of a slice of the city not noted for coveted addresses. When the far East Side is considered at all, it’s the sort of address from where one hikes just to buy groceries or a sitdown meal, but plans in place will change that. At least four residential buildings are… [more]
Build and they will come… to vote for you. So goes the conventional wisdom on how to attract votes from the real estate industry. In New York that puts incumbent Mayor Michael Bloomberg on the clear path to victory, as his 60-plus percent approval rating indicates. Brokers and developers see Bloomberg as a booster of development, even when his efforts fall short, as they did in his bid to build a New York Jets stadium… [more]
Information is money. But pulling together the right data can be difficult when you’re spoiled for choice. The Internet has changed the face of real estate market research, but quantity isn’t the same thing as quality, and while resources are plentiful, they are also spread far and wide across the Web. Over the last decade Internet sites featuring everything from market reports to industry gossip have popped up, bolstering and challenging the print publications that… [more]
230 Park Avenue could fetch $720 million The 1.2-million-square-foot 230 Park Avenue tower is up for sale for as much $720 million. Owned by a consortium of private investors that includes the Bass family of Texas, the 34-story landmark building between 45th and 46th streets is home to several financial firms including Swiss Re and ING Baring. Darcy Stacom and William Shanahan of CB Richard Ellis are handling the sale, the Post reported. Sony to… [more]
In a racing residential real estate market, brokers looking for the best price on their listings are being outpaced. Past sale prices used to form the basis for pricing similar properties what brokers call comparables but in a market characterized by quick acceleration from the previous month, many brokers have switched to using active listings to set selling prices. From the front seat of the rocket ride that is the New York real estate market,… [more]
For part-time New Yorkers those who use seasons of the year as verbs owning a pied- -terre apartment has usually required a condo building. But these “feet on the ground” can and are stomping into even the ritziest of co-ops. In the booming residential market, where a pied- -terre is as likely to be flipped as to be lived in for a little bit of the year (their usual role), co-ops are trying to attract… [more]
Relics of New York’s horse-drawn heritage, the approximately 75 remaining carriage houses of Manhattan are among the most coveted properties in the city. In Manhattan, true carriage houses belonged to Old New York’s wealthy families, with wide entrances for large horse-drawn carriages and servants’ quarters upstairs. Many of these were located on the Upper East Side and unlike the cottages scattered around Downtown, they were built of brick or stone a few blocks from the… [more]
Manhattan’s real estate practitioners have always been slow to embrace new business models, and a reluctance to offer high commission splits to brokers is no exception. But with the successful entrance of national brokerage RE/ MAX into the city’s insular market, at least one brokerage has taken a gamble on change. David Schlamm, president and founder of City Connections Realty, decided just over a year ago to move to a structure that offers brokers almost… [more]
For NYC real estate updates provide email below
