Items Tagged with 'New York City real estate'

ARTICLES

  • [Pulse] Here's what New York real estate will look like in the year ahead

    Nation's largest real estate market expected to be flat in 2020
    With an estimated population more than 20 million, the New York-Northern New Jersey-Long Island Metropolitan Statistical Area is by far the nation's largest metro – nearly 50% larger than the runner-up. That also means that this metro, home to one in 16 Americans, is the nation's largest real estate market. So, what's happening in this market is perhaps a snapshot of things to come for the rest of the nation’s major markets. Sadly, it doesn't look great.
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  • Inside Jeff Bezos' new 12-bedroom Manhattan mega-condo

    Bezos buys penthouse and two adjoining condos for a combined $80 million
    The CEO of the world's largest retailer is buying three condominiums near Madison Square Park for a combined price of about $80 million. The purchase includes a 10,000-square-foot triplex penthouse with five bedrooms and nearly 6,000 square feet of outdoor space overlooking the Empire State Building, the Flatiron Building, and the new World Trade Center. The other two other apartments, directly beneath the penthouse, bring the combined interior space to 17,000 square feet. CNBC has a video tour.
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  • New York City escalates fight against Airbnb, demands listing information

    Issues subpoena for approximately 20,000 apartment listings
    New York City is upping the ante in its fight against Airbnb, as the two sides battle it out in court and in the court of public opinion. On Monday, New York City Mayor Bill de Blasio announced that the city is issuing a subpoena to Airbnb, demanding that the short-term rental site turn over the listing data that’s at the center of a legal battle between the two sides.
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  • Federal authorities order sweeping overhaul of failing New York public housing

    NYCHA required to "fundamentally reform" its operations
    Federal authorities this week took a major step toward reforming and rehabilitating New York City's unsafe, unsanitary, and in some cases, illegal public housing. HUD, the Manhattan U.S. Attorney, and the EPA are taking more control of the NYCHA in an effort to remedy numerous problems, including lead paint, mold, pest infestations, broken heaters in the winter, and non-functioning elevators in New York's public housing.
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  • New York landlord accused of running sham co-ops, overcharging renters for decades

    Units will be turned into rent-stabilized apartments
    Two New York City co-op corporations overcharged renters for decades by operating apartment buildings as for-profit rental buildings instead of as co-ops. According to the New York Attorney General, the buildings rented out the apartments at market rate, thereby denying residents the homeownership opportunities that come with a co-op and overcharging them for their apartments.
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  • Billionaire snatches up America's most expensive house in real estate spending spree

    Citadel's Ken Griffin spends $362 million in one week
    Billionaire hedge fund manager Ken Griffin just closed on the most expensive property ever sold in the U.S. – a $238 million New York penthouse with stunning views of Central Park. The purchase, which rivals global real estate records set in Hong Kong and Monte Carlo, isn't the only one Griffin has made this week. The Citadel founder appears to be on a bit of a real estate spending spree, setting records at every turn.
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  • Judge sides with Airbnb, HomeAway; blocks NYC law requiring sites to disclose user data

    Law will not take effect during court battle
    A federal judge on Thursday sided with Airbnb and HomeAway and blocked a New York City law that requires the short-term rental platforms to disclose a significant amount of user data. The preliminary ruling comes in a lawsuit filed against New York City by Airbnb over a new law that requires short-term rental sites to reveal hosts’ data.
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  • New York developer admits to bilking investors in long-running luxury real estate Ponzi scheme

    Pleads guilty to defrauding investors out of $58 million
    A New York real estate developer admitted in court last week that he ran a luxury real estate Ponzi scheme that defrauded investors out of $58 million over several years. According to court documents, Michael D’Alessio took much of the money for his own benefit, using it to pay off debts and prior investors, and to fund significant gambling and other personal expenses.
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  • New York opens investigation into Trump real estate tax fraud allegations

    State officials respond to bombshell New York Times report
    New York state officials are investigating whether President Donald Trump, his father, and his family committed tax fraud in a series of complex real estate dealings designed to avoid federal tax laws, which supposedly built the president’s fortune, multiple outlets report. The investigation comes in the wake of a sprawling New York Times investigation into the Trump family and how the president made his money.
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  • Hard money lender Delancey Street bringing commercial bridge loans to NYC

    Company uses AI in decision-making process
    Delancey Street, a hard money lender based in New York City, is expanding and will begin offering commercial bridge loans in the city's five boroughs. And the company, which also has a lending presence in Los Angeles, said that it may soon begin offering commercial bridge loans in L.A. as well.
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