Items Tagged with 'Manhattan'

ARTICLES

  • Manhattan pending home sales surge as prices drop to 2015 level, StreetEasy report says

    New federal tax code is causing a price “recalibration”
    Pending home sales in Manhattan spiked 27% in April from a year ago, reaching the highest level of signed contracts since the spring of 2015, as prices in America’s priciest urban neighborhood dropped, according to StreetEasy. “Early signs tell us that some sellers are finally pricing their homes more realistically and finding buyers when they do so,” said StreetEasy Senior Economist Grant Long.
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  • New York claims real estate brokers made $21 million through illegal Airbnb rentals

    Sues Metropolitan Property Group for allegedly violating short-term rental laws
    A group of New York City real estate brokers made $21 million through a series of illegal Airbnb short-term rentals in flagrant violation of the city’s short-term rental laws, the city claims in a new lawsuit. According to the city, Metropolitan Property Group, its owners, and others were repeatedly warned to stop violating the city’s short-term rental laws, but chose to continue to do so, earning more than $21 million in illegal revenue from Airbnb.
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  • This startup will buy Grandma's house and let her live there 'til the end

    Manhattan-based startup Irene buys seniors' homes and lets them live there until their death
    With home-owning expenses and life expectancy on the rise, Irene, a Manhattan-based startup, is offering seniors the option to sell their homes and retain the right to live in it for free. Irene’s business model is not new. It’s just uncommon in the U.S.
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  • New York City foreclosures rise to post-crisis high

    Jump nearly 60% in one year
    There haven’t been this many homes in foreclosure in New York City since the housing crisis, but the news isn’t quite as bad as it seems. These foreclosures aren't new. In fact, many of them have been in the works for many years.
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  • New York landlords face mounting pressure to lower rents

    Vacant properties on the rise
    Like many other areas of the country, New York experienced a boom in higher-end listings since 2013. Now, however, it faces an oversupply as the market at the top softens and the affordable homes and apartments are snatched up faster than the market can keep up with. Landlords at high-end properties are now under increased pressure to lower their rent prices, or watch vacancies increase.
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  • Manhattan real estate has never been more expensive

    Average sales price for an apartment hits all-time high in 2nd quarter
    No one has ever argued that living in New York isn’t an expensive proposition, but a new report shows just how expensive it is to live in New York’s priciest borough. According to data from Douglas Elliman, it’s never been more expensive to live in Manhattan than it is right now.
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