Development rights, aka air rights, are an extremely valuable commodity on the New York City real estate scene! And it’s the fact that Stuyvesant Town possesses over 700,000 square feet of development rights that some feel helps to explain why Blackstone Group, as part of its deal to purchase this iconic property, was willing to […]
A classic Catch-22 of NYC real estate when an apartment is affordable and yet economically unattainable! This is the plight for many in New York under the guidelines of what is known as H.D.F.C., or Housing Development Fund Corporation. While this co-op program that began during the severe economic downturn in the 1970’s (remember Municipal Assistance Corporation or […]
Follow @Hallmark Abstract Service NYC Mayor Bill de Blasio was swept into office on a promise of narrowing the income gap in New York City along with a slate of other proposals that would, if placed on the political spectrum, be considered some distance to the left of center. With the NYS legislature in Albany […]
