NYC investment sales hit multi-year peak to end 2021

The Real Deal 1/21 9:15A By Suzannah Cavanaugh

Mirroring a late-year surge observed in Manhattan, New York City’s investment sales market ended the year with a flurry of activity as deal volume topped levels last seen in 2018 and dollar volume achieved at least a four-year high. The city...

City’s property values are up despite pandemic—and so are taxes

CrainsNewYork.com (Real Estate) 1/21 7:52A Natalie Sachmechi

The market value of all the property in New York City is $1.4 trillion, 8.2% more than during the previous fiscal year To view the full story, click the title link.

Tax assessments rise 9%, signaling higher bills for landlords

The Real Deal 1/21 7:00A By Suzannah Cavanaugh

Tentative property tax assessments for New York City are up, reflecting the city’s recovery. For landlords, however, the gains signal a tax hike. A preliminary report from the Department of Finance this week shows rental buildings’ market value...

Nine mid-market investment sales to start your day

The Real Deal 1/21 12:00A By Orion Jones

Investment sales in the city have returned to Earth after an end-of-year frenzy. Nine New York City i-sales in the $10 million to $40 million range were recorded last week. Brooklyn led the way with eight sales, while Manhattan and the Bronx each...

New name, same basic idea: Hochul pitches 421a reform

The Real Deal 1/20 1:45A By Kathryn Brenzel

It may have a new name, but Gov. Kathy Hochul’s proposed development tax break looks a lot like 421a. In her executive budget, the governor outlined a replacement for the incentive program, often cited by developers as essential to the...

Local companies don’t expect omicron to keep their employees home for too much longer: survey

CrainsNewYork.com (Real Estate) 1/19 6:41A Eddie Small

A Partnership for New York City poll found that 61% of firms expect more than half of their employees back by the end of March To view the full story, click the title link.

Hochul seeks to fast-track NYC-area casinos

The Real Deal 1/18 8:30A By Kathryn Brenzel

Gov. Kathy Hochul laid her cards on the table Tuesday, calling for New York City to get new casinos earlier than expected. As part of her proposed budget, the governor called for speeding up authorization for as many as three casinos in or around...

For Two Roommates, the Fine Print Held a Big Surprise

NYTimes.com (Real Estate) 1/16 10:00P D.W. Gibson

The two young women had a lot to learn, but they came out on top in Brooklyn with a self-guided crash course on the New York City real estate market.

Homes That Sold for $520,000 or Less

NYTimes.com (Real Estate) 1/15 10:00P C. J. Hughes

Recent residential sales in New York City and the region.

UES townhouse rumored to have been owned by Grace Kelly sells for $25M

The Real Deal 1/15 6:24A By Vince Dimiceli

An Upper East Side mansion reported to have been once owned by Hollywood legend and Princess of Monaco Grace Kelly, has sold for $25 million, according to New York City Department of Finance records. The home, at 51-53 East 73rd Street was...

Rents in Manhattan and Queens recover while Brooklyn lags behind

The Real Deal 1/14 12:00A By Cordilia James

New York City made a rental comeback in December, with Manhattan and Queens leading the resurgence. As rent explodes nationally, New York City tops the charts Rent in Manhattan and northwest Queens soared past pre-pandemic levels in December...

These were the five priciest development sites sold in NYC in 2021

The Real Deal 1/13 1:00A By Rich Bockmann

The land market was one of New York City’s weaker real estate segments in 2021. The five largest deals for development parcels last year fetched nearly $396 million altogether, a roughly 7 percent dip from pandemic-stricken 2020 and a 34 percent...

Paramount+ debuting drama inspired by NYC construction boss

The Real Deal 1/12 1:45A TRD Staff

A New York City construction magnate is serving as the inspiration for a forthcoming streaming series. “Construction,” a new Paramount+ series, will follow a fifth-generation, Black and female construction leader in New York City as she navigates...

Northern NJ industrial properties are fetching record rents

The Real Deal 1/12 1:00A By T.P. Yeatts

Warehouse tenants in 2021 paid more for proximity to the largest consumer market in the U.S. than ever before. Retailers, manufacturers and other industrial renters want so badly to be near New York City that they’re willing to pay 50 percent...

Five industry priorities for Eric Adams

The Real Deal 1/11 12:30A By Kathryn Brenzel

Real estate backed Eric Adams, in large part, for his pro-business, tough-on-crime approach.  A former New York City Police Department captain, Adams campaigned on the idea that he was best equipped to prioritize public safety while also bringing...