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REAL ESTATE
Take a look inside the Inwood apartments offering rents as low as $380
NEW YORK - A new apartment building above the renovated Inwood Library showcases the vision of the city's Housing Preservation and Development division, with rents as low as $380 and access to child care and training.Eliza Tower in Inwood offers "affordable luxury"Manhattan apartments often offer amenities at a hefty price, but not at Inwood's new Eliza Tower. HPD rezoned the property alongside the Inwood Library to build what Commissioner Adolfo Carrion calls "affordable luxury."At the Eliza, the most expensive three-bedroom is just $1,800 for families making 60% of the area median income. One-bedroom units go as low as $380 --...
$1.2M colorful Sutton Place co-op has classic bones and dramatic bridge and river views
This handsomely decorated two-bedroom apartment at 400 East 59th Street on the East Side’s quietly elegant Sutton Place balances classic pre-war details with sweeping New York City views. The co-op’s many charms include colorful and luxurious interiors, two renovated baths, herringbone-patterned floors, high ceilings, and original casement windows. Asking $1,200,000, the home boasts multiple exposures and outstanding views of the 59th Street Bridge, the East River, and the Manhattan skyline.
See all homes sold in Hackensack, June 24 to June 30
The following is a listing of all home transfers in Hackensack reported from June 24 to June 30. There were 4 transactions posted during this time. During this period, the median sale for the area was a 1,076-square-foot home on Passaic Street in Hackensack that sold for $435,000. 9 Vreeland...
Housing lottery opens for 196 rent-stabilized apartments on the Lower East Side
Housing lottery applications are open for 196 rent-stabilized apartments at a new development on the Lower East Side of Manhattan. New Yorkers who earn $18,480 to $154,080 are eligible to apply, depending on the size of their household. Rents start at $454 for a studio. The building at 165 Broome...
For $1.4M, this full-floor Park Slope co-op comes with a private rooftop oasis
Asking $1,375,000, this two-bedroom co-op at 144 Park Place at the border between Park Slope and Prospect Heights is a sunny top-floor home with a fresh renovation, clean lines, and inspiring city views. But the full-floor walk-up (it’s on the sixth floor but only three flights up) shows its best advantage in summertime: Just upstairs, a full private roof deck offers space for dining, gardening, and entertaining in enviable Brooklyn style.
Dursts look to sell major East Harlem dev site
The Dursts are looking to sell their large development site in East Harlem after the state hammered out a replacement for 421a. The Durst Organization put its property at 1800 Park Avenue up for sale, a spokesperson for the company confirmed to The Real Deal. It wasn’t clear what price the company is targeting, but with nearly 700,000 square feet of buildable floor area available, a deal could easily reach into nine figures.
New York City’s Real Estate Market Heats Up as Inventory Grows and Sellers Slash Prices
Showing promising signs for an uptick, the Manhattan real estate market is entering its buyers era.Grateful Dead Drummer Bill Kreutzmann's Former Home in California Can Be Yours for $4 Million The city is currently experiencing a nascent shift as its inventory grows and prices plummet; buyers are taking advantage. According to data from Douglas Elliman and Miller Samuel, the average residential real estate sales price in New York City dropped to just over $2 million in Q2, a 3-percent downward shift that’s still 5.5 times the national average. At the same time, the median price dipped two percent to $1.2 million, while sale prices for...
Brick Underground’s best advice from New Yorkers who lived through real estate drama
No two buildings are the same in New York City, which makes navigating a sale or moving to a rental its own unique experience. Even so, there’s no need to make the mistakes of those who’ve gone before you. Here's Brick Underground's best advice, culled from our first-person...
Developer Brandon Miller in intensive care
Unconfirmed reports swirled on internet discussion forums this week that Brandon Miller, principal of Real Estate Equity Corporation, was dead or near death. Obituaries, apparently generated by AI, circulated online. But Miller was alive — in the intensive care unit at Stony Brook Southampton Hospital, a hospital representative said Wednesday....
New NYC budget could help affordable housing groups buy notorious apartment buildings
A banner hanging on the fire escape at 440 West 45th Street warns “Buyer Beware: Organized Tenants Live Here. No Speculators.” The new budget includes $15 million to help affordable housing groups acquire apartment buildings – far less than the $250 million several councilmembers had demanded. [ more › ]
Former Manhattan properties of “worst landlord” could find new life with nonprofits
Two Manhattan buildings formerly owned by “worst landlord” Daniel Ohebshalom may get scooped up by nonprofit housing groups, thanks to an infusion of city funding. The city’s new budget revived the Neighborhood Pillars program with a $15 million boost, which could help nonprofits and developers buy neglected properties, like those formerly operated by Ohebshalom, Gothamist reported.
NYC Real Estate Trends: Buyer's Market Emerges Amid Price Dip
As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer's market is taking shape, potentially prefiguring a nationwide trend. Mike Needler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is complex. High rates challenge the market, yet offer improved buying power as they retreat from their peaks. The median home price has reached a record high, complicating entry for first-time buyers. Despite this, Needler highlights pockets of opportunity in various states and the role of AI in enhancing the real estate experience. With rent increases contributing to persistent inflation, the allure of home ownership remains, bolstered by the large generations entering their prime home-buying years. Needler's insights provide a nuanced view of the current real estate landscape, balancing the tension between rising rates and the benefits of increased inventory and lower prices.
$3.7M Bauhaus-Inspired Mansion Hits Montclair Market (PHOTOS)
A custom 5,696-square-foot home inspired by Bauhaus Principles is on the market in Montclair.Built in 2017 by architect Barry Jay Kaplan with interiors by Yoshida + Zanon Design Atrium, the distinctive home at 251 S. Mountain Avenue includes five bedrooms and six bathrooms.While the home …
Return to Lender: Week of July 3, 2024
Silverstein Properties has taken title to the 9 Dekalb Ave. mixed-use building in Brooklyn, according to published reports. The developer acquired condominiums, rentals and retail at Brooklyn Tower for $672.6 million, New York City property records show. Earlier this year, it acquired a $424-million senior loan on the project from Otera Capital. Silverstein foreclosed on the 1,067-foot tower in Downtown Brooklyn earlier this year after its previous owner, JDS Development Group, defaulted on its $240-million mezzanine loan from Silverstein Capital Partners. An auction was slated for June 10, but JDS agreed to turn the property over in a deed-in-lieu of foreclosure.
New York City unveils record $26 billion housing investment in FY 2025 budget
New York City’s $112.4 billion Fiscal Year (FY) 2025 adopted budget includes $2 billion in capital funds across FY25 and FY26 to the New York City, and commits to a record $26 billion in housing capital in the current 10-year plan. Funding will help the city reach the “moonshot”...
Silverstein Gains Control of BK Tower in $672M Deal
Silverstein Capital Partners has gained control of the 74-story Brooklyn Tower at 9 Dekalb Avenue in a $672 million deal, acquiring the mostly vacant 143-unit condominium from JDS Development, Crain’s reported. The transaction, finalized in June just before a scheduled foreclosure auction, involved Silverstein taking over JDS’s $240 million mezzanine loan following a default earlier this year.
See all homes sold in West Orange, June 24 to June 30
The following is a listing of all home transfers in West Orange reported from June 24 to June 30. There were 30 transactions posted during this time. During this period, the median sale for the area was a 1,170-square-foot home on Amelia Street in West Orange that sold for $618,000.
Ex-Peloton CEO sells Manhattan townhouse for $35.5M
Peloton founder John Foley has cycled through his second New York property deal in as many years. A little less than one year after moving his East Hampton estate, Foley has made an off-market deal to sell his Manhattan townhouse for $35.5 million, the Wall Street Journal reported. A limited...
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