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REAL ESTATE
Lower East Side rental opens lottery for 196 affordable apartments, from $454/month
Rendering courtesy of NYC Department of Housing Preservation and Development. A housing lottery launched this week for 196 affordable apartments in a new rental building on the Lower East Side. Located at 165 Broome Street, the 15-story building offers tenants new residences in one of New York City’s trendiest neighborhoods. New Yorkers earning 30, 50, 70, and 80 percent of the area median income, or between $18,480 for a single person and $154,080 for a household of seven, can apply for the units, which range from $454/month studios to $2,949/month for a three bedroom.
Affordable Housing Lottery Launched in New York City; Multiple Apartments Up for Lease under NYC Housing Connect
A new residential building in Bedford-Stuyvesant, Brooklyn, offers affordable housing options through a lottery system. The structure, consisting of 33 residences, was designed by Adam R. Taddonio and developed by Isaac Broyn under the 952 Bedford LLC. There are ten units available on NYC Housing Connect for residents with incomes...
For $7.9M, this sprawling four-bedroom Chelsea condo is a modern city mansion in a landmarked building
Photo credit: Anton Brookes at H5 Property for The Corcoran Group. On Manhattan’s west side, the landmarked Cass Gilbert building at 130 West 30th Street is a classic Chelsea address. Asking $7,850,000, this 21st-century condo spans 4,000 square feet, offering the kind of space you’d expect in a country mansion, surrounded by iconic New York City views. There’s an abundance of outdoor space in the form of two sweeping terraces, so you can even include your garden dreams in your modern city estate.
Manhattan is now a 'buyer's market' as real estate prices fall and inventory rises
Manhattan home price declines are a result of rising inventory of apartments for sale, which are also taking longer to sell. The gap between buyer and seller expectations is narrowing, and more deals are closing. High rents in Manhattan are also helping sales as many potential buyers who were waiting...
6,000-Square-Foot Luxury Home In Paramus Listed At $2.495M (Photos)
The house at 452 Oregon St. is on the market for $2.495 million with Tony Nabhan of Keller Williams City Views. Located on a quiet street on the east side of the borough, the home boasts 6 bedrooms, 5.5 bathrooms. The first floor is complete with a 2-story foyer leading...
$10M Sands Point Home Promises 'Privacy, Elegance, Serenity'
The home at 18 Hicks Lane in Sands Point is a “secluded Oasis” waiting for its next owners. On the market for $9.9 million, the seven-bedroom, eight-bathroom home sits on a 5.7-acre lot at the end of a long driveway. Inside, it boasts 8,100 square feet of roomy,...
14,200 Affordable Housing Units Built in 2023: NYC Sees Largest Increase in Decades, Focusing on Underserved Communities!
Affordable Housing Surge in NYC Benefits Lower-Income Black and Latino Communities Calls for Accountability and Policy Reform Amid District Disparities in Housing Production According to THE LATIN TIMES, in a significant development for New York City‘s housing landscape the construction of affordable housing saw a notable increase last year marking the highest levels in decades. […]
Silverstein takes control over Brooklyn Tower in $672M deal
The real estate drama surrounding the Brooklyn Tower may be over. As first reported by Pincus Co, Silverstein Properties has taken over the tower’s rental, retail, and unsold condo units from JDS Development in a $672 million deal. Silverstein had provided a $240 million loan for the tower, which JDS defaulted on in 2019, leading to a foreclosure auction scheduled for June 1. The auction was delayed and eventually avoided after Michael Stern of JDS transferred a preferred equity piece in the tower to Silverstein in order to restructure his debt, according to The Real Deal.
Townhouses tie up June in Brooklyn’s luxury market
Townhouses continued their hot summer streak in Brooklyn’s luxury market, with one peak property trading before listing. The property type took home the four most expensive contracts signed last week, making its fifth consecutive week atop the Brooklyn luxury market, according to Compass’ weekly report on properties asking $2 million or more.
Cadman Towers Is First Mitchell-Lama Co-op to Convert to an HDFC
It's official. Under a strategy known as Article 2 to Article 11, the 421-unit Cadman Towers co-op in Brooklyn Heights has become the first in New York City to exit the affordable Mitchell-Lama program and convert to a Housing Development Fund Corporation (HDFC) co-op. The complex and controversial deal is...
What is Billionaires’ Row in New York City?
NEW YORK (PIX11) – Ever wonder what those big towers are at the edge of Central Park? That’s called Billionaires’ Row. Billionaires’ Row refers to luxury rental towers near Central Park and 57th Street, according to real estate brokerage Serhant. Current listings on Zillow show that Billionaires’ Row properties can go for as much as […]
NYC Real Estate Agents Make $104K Per Year: See What They Make in 43 Other Major Cities
If you've ever watched "Selling Sunset" or "Million Dollar Listing," you've likely been floored by the sky-high commissions the featured real estate agents can take home. But this is certainly not the...
Long Island City developers celebrate completion of 46-unit condo building and other milestones
Over 400 guests, including those involved in developing and selling Noble LIC, a 46-unit luxury condominium on 40th Avenue, celebrated several milestones with a launch party on Thursday, June 20. The first milestone recognized by attendees was the development’s offering plan being declared effective. This means that the paperwork detailing...
101 Fleet Place’s Exterior Progresses in Downtown Brooklyn
Exterior work is progressing on 101 Fleet Place, a 21-story residential building in Downtown Brooklyn. Designed by JFA Architects & Engineers and developed by The Jay Group under the 101 Fleet Place LLC, the 215-foot-tall structure will span 240,092 square feet and yield 292 rental apartments with an average scope of 806 square feet, as well as 4,645 square feet of commercial space, a cellar level, a 30-foot-long rear yard, and 44 enclosed parking spaces. The property was purchased from the Leser Group for $40 million in December 2021 and is located on an interior lot between Myrtle Avenue to the north and Willoughby Street to the south.
Select cities see rise in apartment space
The average size of a new apartment has increased by 27 sq feet from the previous year, according to data from RentCafe. Yahoo Finance Reporter Dani Romero to break down which cities are seeing an increase in available apartments with larger spaces and why. For more expert insight and the...
Luxury NYC Condo Spotlight: 5 Beekman Street Unit 44A – Now Available
In the heart of New York City’s vibrant Financial District, the condo at 5 Beekman Street Unit 44A epitomizes the pinnacle of urban living and luxury. This 2-bedroom, 2.5-bathroom high-rise corner unit, priced at $15,000 per month, offers an extraordinary blend of comfort, style, and high-end amenities, wrapped in breathtaking panoramic views of the city’s iconic skyline, historic bridges, and sprawling rivers.
Nasser Freres, Fulop break ground on 622-unit luxury apartment tower in Journal Square
Designed by Handel Architects, a new 28-story building at 25 Cottage St. in Jersey City will bring 622 apartments, 45,000 square feet of high-end office space and ground-floor retail space to the city’s Journal Square section. — Rendering courtesy: Nasser Freres. Development firm Nasser Freres has broken ground...
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