Real Estate News from May 2014

  • Rents Rise Relative to Income Nationwide By Jonathan Tuason | May 16, 2014

    Data collected via Zillow for the New York Times listed the median rents and median incomes for cities across the country.  The compiled data showed that nationally, for about 50% of renters, 30% of their incomes is spent on housing costs, with that 30% proportion for median data holding true for 90 cities.

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  • DUMBO Heights the ‘Campus’ for All Things Tech By Kamini Ramdeen | May 16, 2014

    Jared Kushner (owner of the Puck building located in SoHo)  along with partners Aby Rosen and Michael Fuchs from the RFR firm (who have a huge Manhattan skyscraper office portfolio, which includes the Seagram Building located on Park Avenue), and Asher Abehsera (an investor from LIVWRK Holdings), have come together to purchase the Brooklyn Watchtower from the Jehovah Witnesses. The transaction cost the partners $375 million for the 1.2 million square feet property purchase.  

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  • 11 Gifs That Portray the NYC Apartment Hunting Process By Tim Sheehan | May 13, 2014

    This is how you think your search will go:   This is how it will actually go:    "I need to give you how much money?"   "Wait. What do you mean it's a railroad?"

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  • Once Upon a Time There Was a Place Called Seneca Village By Kamini Ramdeen | May 12, 2014

    Picture the 1800’s, the revolutionary war is over (for a while now), we as a nation are on the early phases of the industrial revolution that is raging into America — the new world. The United States has passed through the ‘Era of Good Feelings’ and is entering the ‘Second Great Awakening’, the nation is looking for westward expansion and in good ole’ Manhattan, New York we were looking to create a huge park — Central Park.

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  • Film Industry Racks Focus From CA To NY By Jonathan Tuason | May 12, 2014

    “You can’t fake New York.

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  • What Experience Means For High-End Buyers By Jonathan Tuason | May 08, 2014

    According to a survey put out by Realtor.com that asked respondents regarding their thoughts on purchasing luxury properties, luxury homeowners and non-luxury homeowners agreed on the importance of great views and chef’s kitchens, at least as far as features go.

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  • Nonprofits are Skedaddling Out of Manhattan With Great Profits By Kamini Ramdeen | May 08, 2014

    The real estate market in Manhattan has consistently been rising over the last five years. During this span of time commercial rents in Manhattan have grown over 7%, and in Midtown alone rents have soared up to 29% in the same time frame.

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  • Moving Midtown West By Kamini Ramdeen | May 05, 2014

    Midtown West will one day be the home to the mammoth sized Hudson Yards Project, which is already undergoing construction. In order to ensure that the many people that will be moving into that area will be accommodated by mass transit the New York Building Congress (NYBC) has proposed the Moving Midtown West (MMW) project.

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  • Data Breaches: Are you putting yourself at risk? By Jonathan Tuason | May 05, 2014

    According to a study conducted by Illinois-based Halock Security Labs, 7/10 of mortgage companies use risky information-sharing practices.  Even if the industry has collectively reformed and refined its security protocols over the past 5 years, the concern of personal information leaks is still relevant.

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  • FiDi's Tallest Residential Building: 22 Thames Street Approved By Jonathan Tuason | May 01, 2014

    22 Thames is adding to the Financial District’s perpetually growing cityscape by setting itself to be the tallest residential building in Lower Manhattan.  While demolition on the building that was formerly on the site wrapped up last year, the project was stalled by the Department of Buildings’ rejection of an earlier, 841-foot design.

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