Luxury developers looking to boost sales before the end of the year have been offering remarkable incentives to buyers amid the city’s sluggish overall real estate market. With a strong desire to keep topline sales prices up, numerous creative offers are being floated...
The head of New York City’s Advisory Commission on Property Tax Reform has indicated that the commission’s proposals will be revealed to the public soon. The proposals, which are likely to become city law, are almost certain to have sweeping implications for all NYC...
The largest real estate loan of 2018—a massive $2 billion—was provided by French bank Natixis to Maefield Development for a major project at 47th St and 7th Ave in Times Square. More than a year on, Natixis has filed suit in New York alleging $650 million of the total...
The end of a major tax abatement for condos built in the early aughts (2000-2010) commonly known as the 421-a is currently shaking up one segment of the city’s real estate market. Listings as well as sales prices for homes built under the program have fallen by ten...
We discussed the “green roof” requirements for New York City buildings in a recent post (November 21), but another change set to take effect next year has the potential to be even more significant, namely letter grades for energy efficiency. Similar to restaurant...
Disarray at 40 East 72nd Street in recent months has put a spotlight on the risks of buying into a small condo building. While there are risks associated with any type of real estate purchase, three condominium owners in this prewar building who paid $11 million each...