The Children's Aid Society's Property at 209-19 Sullivan Street in Greenwich Village recently sold for $33,000,000 to Broad Street Development. According to the Wall Street Journal, the developer's plan is to turn the site into a 60,000-square-f...
Without a doubt, the Manhattan hotel segment of the market has surged this year. Since hotels are not subject to long term leases and adjust their income daily, their pricing and demand can shift quickly.
Last year, only 13 hotels sold, where...
With all the recent uncertainty in the stock market, real estate is looking like a very favorable asset class. It's the only hard asset which cash flows, as gold and other commodities purely benefit from appreciation. Decent returns are availabl...
For the last two years or so, I've cautioned investors about buying in areas which were overdeveloped. Williamsburg was an easy target to mention. In 2006-2007, thousands of units were planned or constructed in the area. Since then many investor...
Word has it that the most coveted residential developments are now selling off floor plans once again. Similarly, we're starting to see buyers purchase investment properties site unseen, relying heavily on their broker's opinion.
In a recent ...
An owner approached me several months ago looking for advice on his property at 180 East 94th Street. The property was a 3 and a half story building containing a nail salon and two fair market residential units above, including a duplex with a r...
Massey Knakal has just presented our 1st Half 2011 Property Sales Report for New York City. Our company tracks every sale which occurs in the Bronx, Brooklyn, Manhattan, Northern Manhattan, and Queens. Our sales force of 50 agents help compile t...
Acreage is not a term you hear often in NYC real estate. We typically measure in feet. Thus, when our office went to market on two Staten Island loans with over 30 acres of collateral it was a rare offering. And yet many of the investors we appr...
On June 24, 2011, the New York State Legislature passed The Rent Act of 2011 extending the rent regulation laws for 4 years until June 15, 2015. The major changes include raising the threshold for deregulation on vacancy or luxury decontrol to $...
The Manhattan residential sales market has tightened up, yet there are still opportunities to be found, especially downtown. According to Prudential Douglas Elliman's 2011 1st Quarter report, the number of apartments listed are now at their lowe...
