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04/28/17
From the April issue: Midtown leasing activity fell sharply in February, to just over 1 million square feet, down from a high 1.5 million feet in January. At the same time the availability rate remained flat over the past two months at 11.8 percent. The biggest lease in February was law firm Kramer, Levin, Naftalis & Frankel’s 265,348-square-foot renewal at...
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04/27/17
From the April issue: Manhattan added 170 new condo units to the sales pipeline in February, according to a TRD analysis of offering plans approved by the New York State Attorney General’s office. But Manhattan was outdone by Brooklyn and Queens, which added a combined 222 new units. The total offering price of those new Manhattan condos is $622.22 million. For...
04/26/17
From the April issue:  Just 39 new Manhattan rental units are estimated to have landed temporary certificates of occupancy — meaning tenants can begin moving in — in February, according to a TRD analysis of Department of Buildings filings. In Brooklyn and Queens, 175 units received TCOs. As for the prices of new rental units, a Manhattan three-bedroom was priced at...
04/13/17
According to the most recent market reports, Brooklyn home prices jumped 16.4 percent in the first quarter of 2017, and 60 percent of multifamily buildings in Manhattan traded for under $10 million in 2016. Residential Manhattan and Brooklyn home sales | Douglas Elliman In the first quarter of 2017, the median price for condominiums and co-op units in Manhattan dropped...
04/04/17
“Cheap” luxury is having a moment. Contracts are up, and the $4 million-to-$6 million market is seeing the most action. In total, 383 contracts were signed on Manhattan pads asking $4 million and above in the period from Jan. 1, 2017 through March 31, 2017, according to data collected by real estate analytics website Urban Digs and reviewed by The...
04/03/17
If you believe the Rent Guidelines Board, it’s a great time to be a landlord of rent-stabilized apartments. The RBG’s latest report, released Thursday, said that net operating income in buildings with stabilized apartments increased nearly 11 percent from 2014 to 2015, the highest recorded increase since 1997 to 1998. But the NOI figures — which measures the difference between...
04/01/17
East Harlem wears its heritage on its façades. In the heart of El Barrio, a James De La Vega painting at 104th Street and Third Avenue pays tribute to...
04/01/17
Mega-office tenants often initiate a hunt for new space even if they plan to stay put. It’s an age-old strategy to gain leverage when it comes time to negotiate a new lease. But that wasn’t the case for McGraw-Hill, which seriously considered relocating some of its offices across the Hudson River before renewing its 900,000-square-foot lease early at 55 Water...
04/01/17
It may take a village to raise a building, but it takes only one disgruntled subcontractor to ensnare a project in a legal tug-of-war. For One57, the 75-story luxury...
03/23/17
From the March issue: An estimated 372 new Manhattan rental units landed their temporary certificates of occupancy in January, meaning tenants can begin moving in, according to a TRD analysis of Department of Buildings filings. In Brooklyn and Queens, a combined 672 new units received TCOs. Together, the two boroughs continue to outpace Manhattan when it comes to churning out...
03/23/17
The Ford Foundation’s Midtown East tower hasn’t changed in 50 years. This was a problem for a number of reasons, the most pressing being that it wasn’t compliant with building codes. The other, a plight shared by much of the neighborhood’s aging building stock, was that the office space was woefully outdated. In fact, the New York Times once called...
03/21/17
From the March issue: Resales of Manhattan condominiums were going for a median price of $1.38 million at the end of January, up from $1.33 million during January of the previous year, a TRD analysis of recorded sales found. ...
03/20/17
From the March issue: Manhattan investment sales dipped slightly between December and January to $2.9 billion, but they remained higher than in any month since June, when buyers recorded $5.8 billion in commercial building sales, an analysis by The Real Deal of New York City property records showed....
03/01/17
The mood was gloomy in late January when rental giant Equity Residential faced investors during an earnings call. Rents were falling and concessions were...
condos-feature
02/28/17
From the February issue: There were 80 new Manhattan condo apartments approved for sale by the New York State Attorney General’s office in December — below 2016’s monthly average of 202 units, according to an analysis of offering plans by The Real Deal....
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02/27/17
From the February issue: Office leasing in Brooklyn and Queens slowed dramatically in the second half of the year, down more than 40 percent to 1.4 million square feet between July and December, compared with 2.4 million square feet between January and June....
02/24/17
(Illustration by Lexi Pilgrim) In 2015, Corcoran Sunshine, Manhattan’s top new development marketing firm, was awash in new business. That year, its brokers picked up an unprecedented $10 billion-plus in new condominium product, including some of New York’s glitziest projects. Its closest rival, Douglas Elliman, also scored big, picking up about $6 billion of exclusive listings. But as the luxury condo...
isalesdecfeature
02/23/17
From the February issue: Manhattan investment sales picked up in December 2016 to $4.2 billion , a 125 percent increase over the prior month, but still down more than 60 percent from December 2015....
02/22/17
According to the most recent market reports, Manhattan co-ops were popular in January, new development deals in the mid-market price range increased in 2016, and rental prices in Manhattan, Brooklyn, and Queens stayed basically flat in January....
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