According to a new report by construction industry advisory firm Construction Coverage, after stiff competition and fast-rising prices—approximately 40% in a two-year span—the residential housing market began cooling in the second half …
Despite the acute recent rise in interest rates, the tristate condominium and co-op market continues to show strength; a decline doesn’t seem to be imminent - at least not in the foreseeable future. For many seeking home ownership in a more…
According to a recent press release from the National Housing Conference (NHC), the income needed to buy a median-priced home in the United States has doubled since 2019 from $54,200 to $111,000 - and for new homes, the income required has …
The World Property Journal reports that the costs to comply with regulations imposed by all levels of government account for an average of 40.6% of multifamily development costs nationally. The National Association of Home Builders (…
On May 10, 32BJ SEIU and Laborers’ Local 79 rallied at City Hall in support of the One45 Harlem development project and spotlighted the project’s workforce housing proposal that will bring family-sustaining union jobs to Harlem. The rally c…
On January 5th, Governor Kathy Hochul addressed New Yorkers in the annual State of the State Address. According to attorneys Brett Gottleib and Mitchell Korbey of the law firm Herrick Feinstein LLP, “While [Hochul’s] speech was silent with …
On April 14, a 56-unit limited-equity co-op called Sydney House debuted in a virtual ribbon-cutting ceremony attended by project stakeholders, lenders, city officials, and members of the co-op board, report s New York YIMBY . The 7-…
According to a recent press release from Harlem-based developer Carthage Real Estate Advisors, construction is progressing at Marcus Garvey Village (not to be confused with the development of the same name in Brownsville, Brooklyn), a 300,0…
Patch.com reports that a recent study by the Real Estate Board of New York (REBNY) concluded that 2020 was a slow year for construction in the city—hitting the lowest point since 2012, according to the report. With shutdowns and economic …
Compared to previous generations, Millennials (those born between 1981 and 1996, give or take) have a conspicuously low rate of homeownership. While the ranks of millennial homeowners have expanded slightly over time, the numbers still fall…