Real Estate News from August 2014
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NYC Is Tough, Even the Mortgages
By
Jonathan Tuason
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August 29, 2014
Getting a mortgage is a cumbersome process as it is. So why is it even more so in New York? Ultimately, it cuts down to the effects of the market’s high demand and limited supply.
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The Return of the Co-ops
By
Lara Milbauer
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August 29, 2014
In just five short years, many New York City co-op boards have changed the direction of their business. With their out-dated standards and notroriously grueling application procedure, many New Yorkers have stayed far away from co-op controlled buildings. Recently, however, co-ops have been making a comeback, due to a number of factors.
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The Real Cost of Living in NYC
By
Samantha Brown
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August 29, 2014
You pay $2.50 to stand in a crowded subway car. $2.45 for your grande iced coffee at Starbucks. $12 for your Chop’t salad and then another $3 for your after-lunch dessert. And it’s barely 1:00 PM.
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Brooklyn’s Newest Borough: Dumbo Heights
By
Lara Milbauer
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August 28, 2014
Previously known as the workspace and haven of Jehovah’s Witnesses will soon be Dumbo Heights. The Watchtower, a complex of factories at the base of the Brooklyn Bridge, used to be the headquarters where Jehovah’s Witnesses would create their pamphlets and establish the work that they do. Over the past ten years, the Witnesses have sold more than thirty of their buildings to residential developers, as they have moved their headquarters to Warwick, NY.
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New 5Pointz Development Renderings Publicized
By
Lara Milbauer
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August 27, 2014
5Pointz has been an artist haven for years, known as the world’s premiere “graffiti mecca.” Aerosol artists have joined showcase their work and create colorful pieces on the building’s walls, which has attracted people from all over the world to this site. 5Pointz was named according to the five boroughs of New York City, yet has expanded internationally.
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Brooklyn's Market Invites New Townhouses
By
Jonathan Tuason
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August 25, 2014
Developers in North Brooklyn are making way for more townhouses. Many recent developments, especially as they’ve cropped up around the waterfront, have introduced more glass and steel buildings than was common for the area, but that might slow as market the changes.
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The Reawakening of Greenpoint
By
Lara Milbauer
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August 25, 2014
The temporary closure of the G train may have interfered with morning commutes, but it has not slowed down the city’s developers. Development along the Greenpoint waterfront is booming.
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Increase Seen In Manhattan Construction Spending
By
Lara Milbauer
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August 25, 2014
As more buildings continue to rise throughout Manhattan, more money is being spent on construction. According to the data from the New York Building Congress, the construction spending for the year 2014 has significantly increased from the previous year.
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What This Baby Boomer Trend Might Mean for NYC Real Estate
By
Jonathan Tuason
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August 23, 2014
In a recent report, the AARP found that the majority of New Yorkers in the 50 to 64 demographic intend to move from the city. According to the report, 53% of polled NYC-based baby boomers plan leaving; of those respondents who stated their assurance they can retire in the first place, 64% state an expectation to leave.
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Alphabet City Is Rapidly Overcoming Wilted Past
By
Tasha Moore
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August 22, 2014
Second quarter stats confirm the truth of the current state of Manhattan's real estate market: sales and prices continue to swell at a considerable pace.
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