Real estate in brief

Metropolis gets FHA approval, REBNY says brokers optimistic and a LES building is revamped

New York /
Apr.April 30, 2010 04:20 PM

Harlem’s Metropolis garners FHA approval
New Harlem condominium Metropolis has been approved by the Federal Housing Administration’s mortgage program. The FHA backing means that buyers will have an easier time qualifying for a home loan and will be able to make down payments as low as 3.5 percent. The six-story, 13-unit Metropolis, located at 51 East 128th Street, contains one- and two-bedroom condos ranging in price from $350,000 to $485,000. Halstead Property Development Marketing is handling sales at the building.

Brokers optimistic, REBNY report shows
Residential brokers are feeling more optimistic about a market recovery, according to a first-quarter survey conducted by the Real Estate Board of New York. Around 15 percent of respondents reported that they had closed sales at or above closing prices during the quarter, marking an 11 percent uptick from the same quarter in 2009. And, despite widespread reports that foreign buyers have been a key source of market momentum, survey respondents reported that 51 percent of their buyers were from New York City, and that another 15 percent were from the surrounding metropolitan region.

Century-old LES building transformed into affordable housing
Rehabilitation of a 108-year-old Lower East Side building has been completed, according to the Urban Homesteading Assistance Board, which spearheaded the project. The 18-unit building at 21-23 Avenue C will be used for affordable housing, with permanent financing in place from the Housing Development Fund Corporation. TRD


Related Articles

arrow_forward_ios
John Banks

High expectations: A look at John Banks’ 4 years at REBNY

High expectations: A look at John Banks’ 4 years at REBNY
John Banks

John Banks to step down as REBNY president

John Banks to step down as REBNY president
REBNY Awards

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
REBNY president James Whelan (Whelan by Evan Gutierrez)

Tax revenue from NYC property sales plunges $1.4B

Tax revenue from NYC property sales plunges $1.4B
Douglas Durst (Getty)

Douglas Durst tapped to be next REBNY chair

Douglas Durst tapped to be next REBNY chair
Ninve James 

REBNY taps Realtor.com exec to lead RLS

REBNY taps Realtor.com exec to lead RLS
REBNY’s James Whelan and New York Attorney General Letitia James (Getty Images; iStock)

Broker-fee ban lawsuit postponed for the third time

Broker-fee ban lawsuit postponed for the third time
From left: Sandhya Espitia, John Canniffe and Jim Whelan (Linkedin, Whelan by Evan Gutierrez)

REBNY’s RLS chief bows out

REBNY’s RLS chief bows out
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...