Tag: congress

Tax Break for Maintenance Fees? By John Zurz

Homeowners have mortgages, and renters have rent. What about co-op and condo residents? They have mortgages AND they have maintenance fees, and when maintenance fees climb high enough it feels like condo owners are paying a mortgage and ren…

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News

3/18/2024 Manhattan’s Luxury Housing Market Logs Best Week Since May—Mansion Global

Manhattan’s luxury housing market is fresh from a banner week during which deep-pocketed buyers splashed out on close to $300 million worth of high-end property, according to Monday’s weekly report from Olshan Realty.
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3/18/2024 Lower Manhattan Condo Tower a Decade in the Making Starts Sales—Bloomberg

A long-delayed condo skyscraper in Manhattan’s Financial District is restarting sales seven years after they first began.
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3/18/2024 Say goodbye to CHIP, RSA. Meet the New York Apartment Association—The Real Deal

Two landlord groups are now all but assured of becoming a new supergroup, and a leadership shakeup is also on tap.
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3/18/2024 NAR restructures broker commissions in $418M lawsuit settlement—Brick Underground

The National Association of Realtors (NAR) agreed to pay out $418 million and change its commission structure on Friday to settle a handful of lawsuits accusing the organization of artificially inflating commissions.
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2/13/2024 Kushner Cos. offloads 2 more East Village properties for $15M—Crain's

Once-prolific developer Kushner Cos. has offloaded a pair of East Village apartment buildings for nearly $15 million, the latest sign of its declining presence in New York.
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2/13/2024 New York lawmakers propose new state agency to build affordable ‘social housing’—6sqft

New York lawmakers want to create a new publicly-funded agency to address the state’s ongoing affordable housing crisis.
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2/13/2024 New York Reimagined Subsidized Housing. What Happened?—The New York Times

“A beacon.” That was how Shaun Donovan, former commissioner of New York City’s Department of Housing Preservation and Development, heralded Via Verde, the South Bronx development, in 2011.
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2/13/2024 5 reasons why owners and shareholders run for a seat on the board—Brick Underground

Whether you have eight or 800 neighbors, you’re probably familiar with the board of directors of your condo or co-op building.
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2/13/2024 Prominent N.Y. Developer Arrested on Charges Tied to Vast Fraud Scheme—The New York Times

A former executive at a prominent New York City development firm that collapsed amid an avalanche of investor lawsuits and foreclosures was arrested this week and is expected to be charged in connection with a multimillion-dollar fraud scheme, according to several people with knowledge of the case.
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2/9/2024 The big bad board: How do we replace our entire condo board?—Brick Underground

I live in a New York City condo building where over 50 percent of the unit owners have met and decided it is necessary to replace the entire board without consideration of their particular running terms.
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1/30/2024 BK Mixed-Use Condo Lands $33M—ConnectCRE

Meridian Capital Group has arranged $33.1 million in financing for the construction of a mixed-use condominium property in Brooklyn’s Park Slope.
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1/30/2024 Foreclosures in Brooklyn More Than Doubled Last Year — Many Were in One Building—Brownstoner

The number of Brooklyn homeowners at serious risk of losing their homes through foreclosure more than doubled from 2022 to 2023, with 541 homes being the subject of first-time foreclosure auctions last year compared to 180 in 2022.
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1/22/2024 More than 45 NYC office buildings are slated to become apartments—NY Post

Home is where the work once was.
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1/22/2024 REBNY 2024: The Exit Interview and This Year’s Honorees—Commercial Observer

Jed Walentas, the incoming chairman of the Real Estate Board of New York, and his predecessor, Douglas Durst, are more alike than one might initially think.
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1/19/2024 Central Park Tower penthouse last listed for $149.5M finds buyer—6sqft

Only two weeks into 2024 and New York City is already seeing record real estate deals.
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1/12/2024 Can a coop make a dent in Lake Placid's housing problems?—NCPR

Can a coop make a dent in Lake Placid's housing problems?
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1/12/2024 RYBAK Development Lands $71M for Queens Resi Condo —ConnectCRE

RYBAK Development has landed $71 million in construction financing for The Austin, a condominium project in Forest Hills, Queens.
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1/12/2024 Hillcrest condo fire victims remain displaced 1 year later as construction continues—News12 Long Island

Construction crews worked Friday at the Hillcrest Condominiums in Peekskill installing electrical wires and rain gutters.
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1/12/2024 New York State Awarded $15 Million In Federal Funding For Electric Vehicle Charging—NYSERDA

Governor Kathy Hochul today announced that New York State has been awarded $15 million in federal funding to build out electric vehicle charging.
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1/12/2024 Brooklyn's median sales price finally got unstuck in the fourth quarter—Brick Underground

Brooklyn's median sales price was stuck for a long time, but it finally budged.
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