Category: New York

This does not bode well for the couple’s marriage. In a potential sign of estrangement, photos of Jennifer Lopez and Ben Affleck’s marital home have reappeared online. According to the Daily Mail, a number of previously unavailable images were uploaded to the Zillow profile of the couple’s Beverly Hills mansion on June 1 and June 5, signaling that — though still listed as sold — it may soon be back on the market, along with the pop star and actor.  There have been numerous recent ominous signs that the A-listers…

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Buried in New York State’s recently approved housing policy is an update to the Housing Stability and Tenant Protection Act (HSTPA) of 2019 that increases the dollar amount owners are allowed to spend on upgrades to rent stabilized apartments. The State Legislature tweaked HSTPA slightly by raising the cap for Individual Apartment Improvements (IAIs) from $15,000 over a 15-year period to $30,000 or up to $50,000 if the unit was either occupied continuously for 25 years or registered as vacant in 2022, 2023 and 2024. Modest rent increases will accompany…

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The state legislative session ends this week. Here’s what real estate is watching. Obviously, the big industry issues were settled in the state budget. Those included an extension of the 421a construction deadline, a replacement for 421a, good cause eviction, an office-to-residential tax incentive, the lifting of the city’s residential floor-area ratio cap and a pilot program for basement apartments. But industry folks are eyeing a handful of other bills in the final days of session, including:   A measure that would cap rent increases on ground lease cooperatives and help…

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Breaking New Ground in Manhattan Real Estate with Distinguished Newcomer BKREA, at the forefront of New York City’s investment property markets, is thrilled to welcome Justin Rice-Moore to its burgeoning team. In an aim to revolutionize land sales within the vibrant Northern Manhattan submarket, Justin will apply his unique skill set refined through years of public service and athletic leadership to his new role. From Public Safety to Property Sales: A Professional Evolution Justin’s multifaceted background includes an impressive five-and-a-half-year tenure as a police officer within Washington D.C.’s metropolitan force.…

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Derek Jeter, the long-beloved former Yankees superstar, is officially parting ways with New York — where he spent two decades dazzling his many fans. After six years spent on and off the market for sale, his castle-style property has finally entered contract. This marks the last of his holdings in the state, though the final price paid for the dwelling and the identity of the new owner aren’t yet known. Derek Jeter’s longtime castle in New York has entered contract after six years on and off the market. Stephen Dolinsky…

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Buyers face a tough housing market these days: With listing prices hovering at $430,000 and mortgage interest rates near 7%, the cards seem to be stacked against them. But not all markets are equally daunting. In fact, some are bona fide buyer’s markets where cash-strapped home shoppers can snag a bargain. So where are these hidden paradises where buyers have a leg up? To help, Realtor.com crunched the numbers to find the best buyer’s markets across the country right now. What defines a buyer’s market? To pinpoint buyer’s markets, Realtor.com…

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When Charles Cohen’s team asked his lender for one last chance to stave off the consequences of an alleged $534 million default in late March, Fortress was already busy filing suit. The billionaire head of Cohen Brothers Realty, a New York real estate scion who channeled his wealth into an indie film empire, had failed to make a scheduled $24 million payment. Cohen thought the parties had drawn up new terms that would extend his loan and defer payments, he later alleged in legal filings.  Fortress begged to differ. The…

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In the last few years, many Americans have gotten stuck in their starter house. Buying your first home has long been a milestone of adulthood. So has selling your first home and moving into something bigger. But in the last few years, many Americans have gotten stuck in their starter house. That’s because the U.S. housing economy is being hammered by three forces: the highest interest rates in around two decades, record home prices and near rock-bottom inventory. “Home affordability is the worst I’ve ever seen it,” Daryl Fairweather, Redfin’s…

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If buying a home is an inexorable part of the American dream, so is the next step: eventually selling that home and using the equity to trade up to something bigger. But over the past two years, this upward mobility has stalled as buyers and sellers have been pummeled by three colliding forces: the highest borrowing rates in nearly two decades, a crippling shortage of inventory, and a surge in home prices to a median of $434,000, the highest on record, according to Redfin. People who bought their starter home…

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Not a day seems to go by without a housing market headline breaking down a new set of real estate data: Mortgage rates soar above 7%! Home prices drop! Housing stock hits a four-year high! Homebuyers and sellers might get whiplash trying to figure out what it means for them. But, it is possible to figure out who is in the driver’s seat in the real estate market. Sometimes, it’s the seller. Once in a blue moon, buyers will be in control or the market is balanced. And, believe it…

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Grant Cardone Slams NYC After Trump Verdict: ‘I Will Never Do Business In New York City’ Real estate mogul Grant Cardone said he’ll never do business in New York City again after former President Donald Trump was found guilty of all 34 charges in his hush money trial. In a May 30 post on X, Cardone asked his followers why anyone would invest in New York City real estate, noting that investors can’t evict, can’t raise rents, can’t predict taxes, can’t get fair legal treatment and can’t do business in…

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Red Apple Group CEO John Catsimatidis reacts to the Trump verdict.  Prominent business executives have warned that more New York enterprises and their leaders may fall victim to “no rule of law” in the wake of Donald Trump’s guilty verdict. “If they can do this to a business person like Donald Trump, they could do it to anybody in New York and a lot of businesses. A lot of people are concerned that there is no rule of law,” billionaire CEO John Catsimatidis said Friday on “Mornings with Maria.” “If…

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