Category: New York

Showing promising signs for an uptick, the Manhattan real estate market is entering its buyers era. The city is currently experiencing a nascent shift as its inventory grows and prices plummet; buyers are taking advantage. According to data from Douglas Elliman and Miller Samuel, the average residential real estate sales price in New York City dropped to just over $2 million in Q2, a 3-percent downward shift that’s still 5.5 times the national average. At the same time, the median price dipped two percent to $1.2 million, while sale prices for luxury apartments declined…

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Soaring interest rates have placed tremendous stress on real estate values spanning asset types. With many assets still underwater due to the impact of COVID, real estate’s day of reckoning is upon us. According to Trepp data, the wall of maturities is looming with an estimated $528.7 billion of commercial mortgages maturing this year. Yet, as we close in on the election cycle and with the Federal Reserve hinting at the possibility of rate relief, many landlords in major markets across the U.S. are still holding onto a small glimmer…

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First Foundation, a Texas-based regional bank with more than half its loans in multifamily residential properties, is getting a $228 million capital infusion, led by Fortress Investment Group. The investment reflects a troubled market for real estate amid high interest rates. The bank has more than 30 locations across Texas, Florida, California, Hawaii and Nevada. Previously based in California, the company is now headquartered in Dallas and reported $13.6 billion in bank assets in March. Advertisement But the bank’s performance was hurt by interest rates that went up “too high,…

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Sydney is set to get its own version of the most famous park in the world — New York City’s Central Park. Sydney is set to get its own version of the most famous park in the world — New York City’s Central Park. Bradfield City Centre’s Central Park will be the beating heart of Sydney’s new aerotropolis in the city’s west surrounding the new Western Sydney Airport. The Park will sit in the main civic centre in the new CBD, spread across two hectares. The new CBD set up,…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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…EXCESSIVE HEAT WARNING REMAINS IN EFFECT FROM NOON FRIDAY TO 10 PM PDT TUESDAY… * WHAT…Dangerously hot conditions with little overnight relief. Highs in the 90s to lower 100s. Morning lows in the middle and upper 60s. * WHERE…Portions of north central and northeast Oregon and central, south central, and southeast Washington. * WHEN…From noon Friday to 10 PM PDT Tuesday. * IMPACTS…Heat-related illnesses increase significantly during extreme heat events. * ADDITIONAL DETAILS…Persistent Major to locally Extreme HeatRisk (risk of heat-related impacts) is anticipated through the duration of the event.…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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As the New York City real estate market experiences a notable drop in prices and a rise in inventory, a buyer’s market is taking shape, potentially prefiguring a nationwide trend. Mike Miedler, CEO of Century 21, sheds light on the situation, suggesting that while small shifts are being observed across the country, the current state in New York could be an indicator of broader changes to come. With about 1.6 million new homes expected on the market and mortgage rates hovering above 7%, the affordability equation for potential buyers is…

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