Category: New York City
Winston Churchill’s former London home hits the market for $24.8M – New York Post
Winston Churchill’s former London home lists for $24.8M Breaking News
Read MoreNew hikes in interest rates could affect bleak housing market – New York Post
Mortgage rates are likely to remain elevated through the summer, after Federal Reserve policymakers held the benchmark interest rate steady at their latest meeting. As expected, the Fed on Wednesday left the federal funds rate unchanged at a target range of 5.25% to 5.5%. The U.S. central bank has now held rates firm at that level for nearly a year, after rapidly raising them from near zero to combat soaring inflation. In remarks following the rate announcement, Fed Chair Jerome Powell said that inflation has “eased substantially” from its recent peak two…
Read MoreNYC considers ending broker fees for tenants, angering real estate industry – ABC News
NEW YORK — It’s a familiar and agonizing experience for legions of New York City renters: before moving into a new apartment, a tenant must first shell out thousands of dollars in fees to a real estate broker, even if that person was hired by the landlord. The hefty one-time payments, known as broker fees, are ubiquitous in New York but nearly unheard of anywhere else. In most other cities, landlords cover the commission of agents working on their behalf. But legislation backed by a majority of the New York…
Read MoreInvest Like Donald Trump With New York REIT Yielding 8.6% – Yahoo Finance
Invest Like Donald Trump With New York REIT Yielding 8.6% Donald Trump built his wealth through estate investments and development. He also ventured into entertainment, including his popular show The Apprentice and his new social media app Truth Social, which recently went public via a SPAC merger and now trades as Trump Media & Technology Group Corp. (NASDAQ:DJT). Investing in real estate is not as easy as it once was, especially with rates at elevated levels. However, investors can explore alternative routes to enter the real estate market, including investing…
Read MoreCommercial real estate crash: NYC office to sell at 67% discount – Fortune
A New York City office building owned by a Related Cos. affiliate is set to be sold at a steep discount. Empire Capital Holdings and Namdar Realty Group agreed to purchase the property at 321 W. 44th St. for less than $50 million, according to people familiar with the matter who asked not to be identified citing private information. That’d be a roughly 67% discount from the nearly $153 million that Related Fund Management paid for it in 2018. The deal was a short sale, meaning Related and its lenders…
Read More‘Home Alone’ house snatched after just 1 week on the market – New York Post
The iconic “Home Alone” house has already found a buyer just one week after hitting the market. Listed for $5.25 million, this legendary Winnetka, Illinois property, located in the Chicago suburbs, has left potential buyers saying, “Keep the change, ya filthy animal!” The final sale price and the identity of the new owner aren’t yet available. While fans of the movie might be surprised by the quick sale of the home, which made star appearances on screen, real estate experts aren’t. The 9,126-square-foot stunner, represented by Coldwell Banker Realty’s Dawn…
Read MoreWhat to expect from the housing market in the second half of 2024, according to real estate experts – NBC New York
While experts are forecasting more homes will be available, they said the boost in supply is not enough to solve affordability issues for buyers. Interest rates are expected to come down, but not by enough to counteract high prices. “It’s a very strange market, and it’s kind of hard to predict,” said Jeff Ostrowski, a housing analyst at Bankrate.com. Experts are torn about where exactly the housing market is headed in the latter half of the year. “Mostly, we think the housing market is going to improve over the next…
Read MoreTop economist predicts ‘crash of a lifetime,’ worse than 2008 – New York Post
Harry Dent, the outspoken financial author and economist, isn’t reversing course from his bold “crash of a lifetime” declaration this past December. Speaking in an updated interview with Fox News Digital, Dent cautioned that the “everything” bubble still has not burst, and it may be a bigger crash than the Great Recession. “In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened,” Dent said Tuesday. “What do you do if you want to cure a…
Read MoreCT has 5 of the worst real estate markets for home buyers in U.S. – Torrington Register Citizen
A Judd Avenue Victorian in Bethel, Conn., which after two weekends on the market went under contract to be sold in May 2024. Five metropolitan areas in Connecticut rank among the top 10 percent of hottest seller’s markets in residential real estate, according to Zillow’s latest index capturing listing and sales activity through April 2024. Alexander Soule/Hearst Connecticut Media Within five days of hitting the Avon market at a $749,000 asking price, the Indian Pipe Trail house had a buyer — and for $151,000 over the owner’s target figure. At smaller…
Read MoreHousing Market 2024: 10 Hotspots Where You Need $500K+ to Buy – Norada Real Estate Investments
The American dream of homeownership has become increasingly challenging in recent years. Forget the 20% down payment! In this post, we will discuss about 10 sizzling housing markets in 2024 that demand a whopping $500K+ just to enter. The National Association of Realtors paints a sobering picture, highlighting how affordability has reached historic lows. This situation stems from a complex interplay between rising home prices and stagnant wages. According to their definition, a house is considered “unaffordable” if it consumes more than 28% of a household’s annual income. Let’s face…
Read MoreNew York Property Market Outlook – Wei Min Tan – castle-avenue.com
Posted by Wei Min Tan on June 7, 2024 Manhattan, New York remains a top choice for global investors seeking a safe and stable property market. This appeal stems from factors like limited supply, high global demand and consistent value appreciation. Even with lower rental yields compared to other locations, the New York property market offers diversification and a hedge against inflation, political uncertainty, and global economic disruptions. This outlook explores the current trends impacting the prized Manhattan, New York real estate market. Read about Wei Min’s style in Best Manhattan…
Read MoreFirst Look: Inside The Surrey Residences, a New Boutique Condo on Manhattan’s Upper East Side – Robb Report
A historic Upper East Side hotel is set to become one of the city’s most coveted housing developments. Since it was built in 1926 on East 76th Street just off of Fifth Avenue and Central Park, The Surrey has been a pillar of discreet luxury in one of Manhattan‘s most prestigious neighborhoods. It was made famous by a slew of guests, including JFK and Hollywood legends Bette Davis and Claudette Colbert. Now, British developers David and Simon Reuben, founders of Reuben Brothers, have made their first foray into the New York market…
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