Real Estate News from May 2014

  • New Jersey Incentivizes New York Businesses to Cross the Hudson By Jonathan Tuason | May 30, 2014

    New Jersey is extending generous invitations to businesses to relocate, convincing New York’s big names to open offices across the Hudson.  In raw numbers, there was an aggressive increase in the amount of payouts from 2012 to 2013, stepping up from $698 million to $1.3 billion.    

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  • New Queens Transit Hub: Build Me, Maybe? By Kamini Ramdeen | May 30, 2014

    A futuristic transit hub has been designed for implementation in the borough of Queens. If the designs are approved and permitted the area of Woodside, Queens is in for a Jetsons-reminiscent new addition to its LIRR/7-train line intersection.  

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  • Silverstein Properties Enters Midtown West’s Hot Market By Kamini Ramdeen | May 29, 2014

    Midtown West is abuzz with many new developments set to scrape the sky. The Hudson Yards project has developers scrambling to add their own unique touch to the new Manhattan skyline. Larry Silverstein is the latest developer to set his eye on the soon-to-be bustling part of town, and has narrowed his sights to developing W. 41st and 11th Avenue.  

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  • Millennials And Keeping Up With NYC Housing Market Growth By Jonathan Tuason | May 28, 2014

    Younger home buyers are more cautious about entering the housing market as homeowners younger than 35 went from 36.8% to 36.2% from the last quarter of 2013 to the first of 2014.

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  • RealtyTrac’s False Housing Data Corrected by Jonathan Miller By Kamini Ramdeen | May 27, 2014

    (Right: Jonathan Miller, Left: Darren Blomquist) Recently, RealtyTrac had send out erroneous data about the all-cash housing market in Manhattan. The Washington Post reported that RealtyTrac’s data concluded that eight out of ten homes in Manhattan were bought with all cash, The Real Deal later picked up the same story. If you’re at all familiar with the Manhattan market these numbers seem a tad bit fishy.  

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  • Study Finds “Seaport City” Feasible By Kamini Ramdeen | May 27, 2014

    A new study was recently released that analyzes the feasibility of former mayor Michael Bloomberg’s resiliency plan—post Superstorm Sandy. The area that was researched was named “Seaport City” by Bloomberg and sits on the eastern side of Lower Manhattan.

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  • Tishman Speyer Buys Potential "Hudson Spire" Site By Kamini Ramdeen | May 22, 2014

    Tishman Speyer Properties recently purchased two parcels north of the Hudson Yards development site for a whopping $438 million. This large purchase is considered Tishman Speyer’s first major property acquisition since the market crash in 2008. The company had been buying primarily foreign real estate in Europe, Brazil and China. Their U.S. property purchases were mainly in California and Chicago, until now.    

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  • Markets and Mortgages: How Does NYC Rank? By Jonathan Tuason | May 22, 2014

    The National Association of Realtors ranked the metropolitan statistical areas and the incomes required to qualify for a mortgage with a 5% downpayment for a median market home.  The San Jose-Sunnyvale-Santa Clara region of California topped the list for the highest income requirement at $186,285, adding to a total of five metropolitan areas in the state to make the list.

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  • Water Under The Bridge (If It Had the Funding) By Jonathan Tuason | May 20, 2014

    Since Hurricane Sandy swept through the East Coast, redevelopment has been unfortunately slow.  Late last month, the Metropolitan Waterfront Alliance met for their annual conference, this time titled, “Rebuilding our Waterfront: From the Water In, From the Grassroots Up”, in the hopes of addressing progress thus far, and how to continue forward.

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  • Buying Real Estate With Your IRA By Kamini Ramdeen | May 20, 2014

    IRAs can be more than just used for investing in the stock market. There are many options to diversify your assets within an IRA. Some of the forms can be energy, coins, copyrights, patents, boat slips, IPO stocks, and purchasing real estate.  

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