If selling is an art, then real estate agents are in many ways like landscape painters -- in other words, they prefer a vista without human characters. It’s not that they don’t like people; it’s because it’s much easier for a prospectiv…
Category: Buying & Selling
Manhattan Sales Prices Drop
Owners looking to make a killing on their apartments are getting a cold splash of reality, according to a recent report from Marketproof. While sales prices in the NYC market have indeed increased by some 43% since 2006, in many cases, sell…
'Bargain' Condos Selling Well...
While reports show a citywide trend of sellers scaling back asking prices for co-ops and condo units, AM New York reports that the under-$1 million tier is holding its own, and the $500,000ish market actually seems to be in pretty good …
FHA Eases Financing Regs
The Federal Housing Administration (FHA), which insures mortgages made by private lenders and banks, will ease condo financing regulations to open up homeownership for more first-time buyers, effective October 15, reports Yahoo! Finance.…
Condo Contract Crisis?
The National Law Review is alerting litigators to be prepared for a rash of lawsuits related to a possible looming housing recession, likening the outlook to what happened in 2008’s economic crash. As the condo developers of a deca…
Condos Exempt from LLC Disclosure Law
Back in September, Governor Cuomo signed into law a bill passed by the New York State legislature meant to make public knowledge the actual owners of one-to-four family homes purchased under the guise of LLC’s, limited liability corporation…
Pied-à-Terre Tax Effort Revived
Bloomberg Quint reports that another blow may be heading toward the high-end real estate market, in the form of a revived effort by state lawmakers to impose a tax on second-home purchases of $5 million or more. This tax follow…
One-Time Princess's Co-op Sells for $4.25M
Before the multi-hyphenate It girls of the 21st century, there was Lee Bouvier Radziwill—younger sister of Jacqueline Kennedy Onassis, wife of a Polish prince for a time, and well known socialite, tastemaker, and fixture of the Upper East S…
Co-op Boards Say No to Neumann
Page Six reports that even before his company’s recent failed initial public offering (IPO), Adam Neumann, now former CEO of WeWork, had difficulty securing a co-op on Manhattan’s tony Fifth Avenue. Citing a real estate insider, Page Si…
New NY State Law Requires LLCs to Disclose Identities
According to The Wall Street Journal, Governor Andrew Cuomo signed a bill last month requiring limited liability companies (LLCs) entering into residential real estate transactions to disclose the identities of their individual members.…