The following information was provided by attorneys with the New York City law firm Schwartz Sladkus Reich Greenberg Atlas LLP. For New York cooperative boards that were handcuffed by many of the provisions in the Housing Stability and Tenant Protection Act, the June 10, 2021 legislation passed in Albany and described below, offers some relief. SIGNIFICANT VICTORY […]
Hallmark Abstract Service received the excellent question below that’s based on a proposed New York City pied-a-terre tax we discussed in the article, ‘Oracle Chooses Tax Sanity And Is Leaving California…Is New York Paying Attention?‘: It’s an excellent question because the details of the tax and impact on homeowners in New York City at this […]
While New York City is in the infancy of coronavirus Phase 2, the impact of the pandemic on the NYC economy has been stark and highly visible! This includes the large number of boarded-up stores lining the streets, and the dearth of any car/foot traffic on those same streets! The current state of the NYC […]
With little to no Spring real estate selling season in New York City due to coronavirus, many experts believe that the Phase 2 economy, coming soon, will open the floodgates to an insatiable demand from homebuyers and investors! But at the same time the potential for a repricing of NYC real estate, due to a […]
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Driving into Manhattan from Long Island one can’t help but notice that dotting the skyline are buildings that dwarf those around them! These, are the supertalls! Defined as a building that is greater than 984-feet tall, these buildings include the famous such as One World Trade Center as well as the infamous like 432 Park Avenue. […]
As a front row witness to the exorbitant and ever-increasing apartment rents being asked for and received by landlords across NYC, will 2017 see rents declining with a shift in power to the renters? Take heart New Yorker renters, you may finally have hand! April 9, 2016 in the article at the Hallmark Abstract blog titled, […]
In 2017, with a new President in the White House, mortgage rates on the rise and New York City new construction both for sale and rent increasing, what can we expect from the NYC real estate market? Freelance journalist Emily Nonko, in conjunction with CityRealty, sought out some experts on the New York City real estate market in […]
For anyone who may be interested in throwing a low-ball bid at an apartment in Manhattan with an asking price of $100MM, now might actually be the time to do it! After recently examining the decline of the nosebleed-level apartment rents across U.S. markets like New York City (‘Apartment Rents: What Goes Up, Must Come Down!‘), today the […]
In 2014 the NYC housing market was bifurcated with listings below $1MM selling quickly while mega-listings above $5MM languished! Approximately 60% of homes between $500K and $1MM were on the market for under 60-days while 70% of those priced over $10MM were on the market for more than 60-days. (Source) So what can New Yorkers […]
The tallest residential tower in the Western Hemisphere (for now), located of course in New York City, is finished and only exceeded in height by 1 World Trade Center! Expected to top out next week, this ultra-luxury building that was the creation of legendary New York-based developer Harry Macklowe and Los Angeles-based investment firm CIM […]
