Real Estate News from February 2014

  • Elegran Finalizes $23.4 Million Upper East Side Sale By Tim Sheehan | February 18, 2014

    In one of the biggest sales of 2014, Elegran Real Estate and Development has finalized a sale of an Upper East Side penthouse for $23,419,750. Led by Elegran co-founder Michael Rossi and Elegran Agent Nick Agostinelli, the New York Times confirmed the deal as New York City's largest of the week.

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  • Brooklyn's Fourth Avenue: Moving On Up By Kamini Ramdeen | February 14, 2014

    The “Park Avenue” of Brooklyn, is the name fitted for Fourth Avenue. After a 2003 rezoning and withstanding this latest recession, residential development and construction has begun and the transformation we’ve been waiting for is finally happening, according to the New York Times.

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  • Morgan Stanley: Real Estate is the Best Investment Opportunity of 2014 By Sophia Polin | February 14, 2014

    According to Morgan Stanley Wealth Management, millionaires consider real estate the best investment opportunity of 2014. It seems the post-recession market is experiencing a major revival. In fact, commercial-property values have increased a staggering 71% since their mortgage crisis low in 2009.

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  • NYC’s Most Innovative According to Fast Company By Stephanie Fujihashi | February 12, 2014

    Fast Company’s annual compilation featuring The World’s 50 Most Innovative Companies came out yesterday, and 6 of these companies are here in NYC.

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  • Spike Lee Selling Historic Mansion: Listed for $32 Million By Kamini Ramdeen | February 12, 2014

    What do, the daughter of William K. Vanderbilt, long distance aero-engine inventor Charles Lanier Lawrance, and a famed-burlesque entertainer Gypsy Rose Lee, have in common? The answer, the Hatch House, which is currently filmmaker and famed Knicks fan Spike Lee’s, 153 East 63rd Street mansion.

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  • Extell Switches up Its Strategy: One57 Listings Now Public By Stephanie Fujihashi | February 10, 2014

    Heads up, millionaires and real estate investors: One57, one of the many luxury high-rises in Midtown North, is now listing their units publicly.

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  • Crowdfunding: A Shift in Real Estate Investing By Jonathan Tuason | February 10, 2014

    Historically, real estate investment has been generally limited to those who could readily afford to risk at least $50,000 on a single deal.  However, crowdfunding is removing that barrier to entry.  Crowdfunding, as demonstrated for commercial ventures by platforms such as Kickstarter and Indiegogo, is being applied to real estate by several services.  This practice could permit individuals to diversify their investments with greater facility, and enable international investors to become involved in more relevant markets.

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  • Thinking of Buying? Why an LLC might be Right (or Wrong) for You By Sophia Polin | February 07, 2014

    When purchasing a residential property in New York City, you’ve got to get your priorities straight. The right neighborhood, the right price, the right apartment line, all these are important. But the questions don't stop once you've figured out the basics. One important decision to think about is whether you should purchase your property as a private resident or through a business entity such as an limited liability corporation (LLC).

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  • South Street Seaport Tower Creates Friction in Lower Manhattan By Jonathan Tuason | February 06, 2014

    In 2012, Hurricane Sandy rocked the east coast, and like many other waterfront locales, Manhattan's South Street Seaport was not spared.  The storm destroyed many of its small businesses, and drove others to relocate.

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  • The Only Constant in Chelsea Is Change By Stephanie Fujihashi | February 04, 2014

    Ah, Chelsea. From the delicious Saturday brunches at the mom and pop cafes, to the sophisticated art exhibits, to what has become New York’s favorite elevated riverside park, there is something for everyone in this eclectic West Side neighborhood.  

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