Category: New York

Starwood Real Estate Income Trust is restricting what investors can redeem rather than sell its properties to raise cash. A giant real estate fund managed by the company of the billionaire investor Barry Sternlicht is limiting the amount of money that investors can redeem, in an attempt to fend off a potential cash crunch as high interest rates pummel the market for commercial properties like office buildings. Starwood Real Estate Income Trust, which manages about $10 billion and is one of the largest real estate investment trusts around, said on…

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Luxury home prices in select Asian cities are soaring, bucking a downward trend in more established markets including New York and London. Prime property prices – defined as the top 5 per cent of the market – fell more than 2 per cent in New York and London in the first quarter compared with the same period a year ago, according to real estate consultancy Knight Frank. Hong Kong and Berlin also posted declines.  But in Manila, Tokyo and Mumbai, luxury home prices surged, gaining 27 per cent, 13 per cent and 12 per cent, respectively. Higher…

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Prices, sales and available homes have all increased during the year, largely driven by high-end properties. But condo prices are sagging. During the first quarter of 2024, sales of single-family homes in the Hamptons were up 35 percent year-over-year, and sale prices for those homes increased more than 25 percent, according to data from the Elliman Report. What’s driving these increases? “It’s not that everything is appreciating,” explained Jonathan Miller, of Miller Samuel, which prepared the report. “The mix is shifting to much higher-priced homes.” The median sale price for…

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Will the San Francisco Bay Area tech hub known as Silicon Valley soon be eclipsed by the Hudson Valley? The sleepy, bucolic area north of New York City, known for its farmhouses, rural ambiance, and spectacular views of the Hudson River, is poised to become the next big tech area if Nvidia co-founder Curtis Priem has his way. “We’ve renamed Hudson Valley as Quantum Valley,” the multimillionaire told the Wall Street Journal. “It’s up to New York whether they want to become Silicon State—not just a valley.” While the co-founder of one of…

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Kostas Fostieris grew wistful as he remembered the workday crowds that once flocked to Greek Deli & Catering, a small restaurant a few blocks from the White House that he has operated for 35 years. At lunch, the line would stretch down the block, Mr. Fostieris said. But then the coronavirus pandemic swept the nation, and the lunch crowds vanished. They have yet to return. “It’s like the day and night,” Mr. Fostieris lamented as he sat against a wall adorned with signed photographs of the current and former presidents…

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On the reality TV show, a motley crew of camera-ready real estate agents navigates the cutthroat market of multimillion dollar houses. Like the Hamptons itself, where white-sand beaches and white-glove service await those with enough equity each summer, the reality TV show “Selling the Hamptons” is an escape and an indulgence. Now in its second season on Max, the streaming service formerly known as HBO Max, the show follows the cast in the storied vacationland of moneyed New Yorkers. The cast of “Selling the Hamptons.” All are young, easy-on-the-eyes real…

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The New York home of the late John Lennon and Yoko Ono have owned for over 50 years has finally hit the market with a whopping $8.23m asking price. It’s been a long and winding road to the sale of this New York City home. A two-storey Soho building bought by the late John Lennon and Yoko Ono in 1971 has hit the market for the first time in a half century. The brick, bluestone and terra cotta structure at 496 Broome St. was the first residence the pair purchased…

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DenisTangneyJr / iStock.com Commitment to Our Readers GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology. 20 YearsHelping You Live Richer Reviewed by Experts Trusted by Millions of Readers As incredible as New York City and its surrounding areas are, not all the cities and towns in this state are ideal places…

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DenisTangneyJr / iStock.com As incredible as New York City and its surrounding areas are, not all the cities and towns in this state are ideal places to buy a home or invest. In fact, there are some areas that you might want to avoid if you’re looking for a high-quality living experience or hassle-free real estate investing. Check Out: 7 Locations Where Housing Prices Are Plummeting Post-Pandemic Read Next: 4 Genius Things All Wealthy People Do With Their Money Below, find out the worst places to invest in or live…

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Commercial Observer, the premier media and information services company that informs and connects leaders in the commercial real estate industry, announced the release of its 2024 Power 100 list, its highly anticipated annual rankings of the most influential players in the industry. Honoring the Top 100 Real Estate Power Players Creating Opportunity & Reigniting Transactions in a Stalled Market SEE ALSO: Jim Dillavou Talks Lincoln Property Retail Expansion at ICSC With commercial real estate still reeling from four consecutive years of unprecedented changes and surmounting market woes, a spark in…

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“How’s the market?” It’s a question every agent is asked multiple times each week. A better question for buyers and sellers in New York today would be, “What’s the market?” Sometimes buyers possess the advantage, sometimes sellers do. But what if no-one has the upper hand? I call this a tornado market. A tornado sweeps through town on an unpredictable path, leveling one house while leaving the neighboring house intact. Today, consumers in Manhattan and upper Brooklyn are having both experiences: this property sells in two weeks with multiple offers,…

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A stunning Hudson Valley lakeside castle, owned by a New York legend, is back on the market for a massive discount. Yankees legend Derek Jeter is once again reducing the price of his Orange County mansion. Derek Jeter Reduces Price Of Greenwood Lake Mansion Diane S Mitchell/Wright Bros Real Estate Inc. via ZillowWright Bros Real Estate loading… The Greenwood Lake property is known as “The Castle.” Derek Jeter first listed the home in early 2018 for $14.75 million. He lowered that price to $12.75 million in 2021. Read More: New…

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