Category: Finance

How Failing to Pay Maintenance Fees Can Disrupt a Co-Op By Michael Odenthal

A primary rule of cooperative living is that everyone pitches in their fair share. This applies to monthly maintenance payments, special assessments, and any other monetary obligation that allows the association to maintain quality of life…

Finance

Trump Suspends Initiative to Reduce Mortgage Insurance Premiums By A.J. Sidransky

On January 9, shortly before the end of his second and final term, President Barack Obama sent a directive to the Department of Housing and Urban Development (HUD), ordering a reduction in FHA mortgage insurance premiums by a quarter of…

Finance

NYC's Old Property Tax Exemption Program Gets a Makeover By A.J. Sidransky

Over 45 years ago, when New York City was entering a dangerous financial decline that nearly culminated in municipal bankruptcy in 1975, the 421-a tax exemption program was created to incentivize developers to enter into new residential dev…

Finance

REBNY Unveils 4Q 2016 NYC Residential Sales Numbers By David Chiu

New York City's residential real estate market had a moderate fourth quarter in 2016 to finish a record-breaking year, as the average home sales price (pertaining to co-ops, condominiums, and one-to-three-family dwellings), went up 10 perce…

Finance

How Effective Are Chargeback Programs for Co-Ops and Condos? By Mike Odenthal

Last December, DNAinfo published a story about the board of Dayton Beach Park, an affordable housing co-op in Rockaway Beach, that reportedly signed off on the purchase of thousands of dollars' worth of kitchen appliances for two of its…

Finance

2017 January Tax Time By A.J. Sidransky

If you live in the United States and watch television, you are undoubtedly aware that every January, right before the New Year, the Holiday Season advertising tapers off and the Tax Season advertising begins. From around December 30th to Ap…

Finance

Elliman Unveils 4Q 2016 Report on Brooklyn, Queens, Riverdale Sales By David Chiu

A combination of rising prices and sales along with sliding inventory characterized fourth quarter 2016 for Brooklyn, Queens and Riverdale home sales in general, according to the latest report by Douglas Elliman Real Estate released on Thu…

Finance

REBNY: Real Estate Created $20.4B in Tax Revenue for NYC By David Chiu

When it comes to tax revenue, New York City has 20.4 billion reasons to thank the real estate industry. According to trade association Real Estate Board of New York (REBNY), the city's real estate industry generated about $20.4 billi…

Finance

The Home Equity Line of Credit Is Making a Comeback By A.J. Sidransky

A home equity line of credit (HELOC) is defined by Wikipedia as “a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower’s equity in his/her house (akin to…

Finance

2016 December Reversing the Trend By Debra A. Estock

There has been a recent push by federal, state and local legislators to get reverse mortgages or Home Equity Conversion Mortgages (HECM) approved for residential cooperatives. The federal Department of Housing and Urban Development (HUD) h…

News

9/11/2025 Elad Group details condo conversion plans for Midtown South office building - New York Business Journal

A century-old structure in the heart of New York City is getting a new lease on life, as plans emerge to convert its office spaces into more than 100 condominiums.
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9/9/2025 $22 Million New York City Condo Tops Most Expensive Sale of the Week and It Comes With Daily Catered Breakfast - Realtor.com

Luxury can bring along perks, and the most expensive condominium sold in New York City for the week ending Sept. 7 comes with daily catered breakfast. The condo at 111 West 57th Street was listed for $22 million, reduced from the original $27.5 million price tag when the building started marketing floor plans in June 2016, according to the Olshan Luxury Market Report.
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9/4/2025 Dylan Dreyer re-lists NYC condo with $500k reduction weeks after split from husband - Hello!

Dylan Dreyer and her husband, Brian Fichera, appear to be at odds over the fate of their $2.5 million New York City home amid their ongoing separation. The former couple first listed the property in January, signaling their impending split. However, reports indicate that the TODAY Show star temporarily pulled the home off the market last month, despite the divorce moving forward. Now, just weeks later, the property is back on the market – this time with a significant $500,000 price cut, bringing the new asking price to $1.99 million.
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9/2/2025 Inside Taylor Swift’s Multimillion-Dollar Real Estate Empire - Elle Decor

Taylor Swift may be best known for her impressive music career, though with eight homes across four states, she may be adding “real estate mogul” to her repertoire pretty soon. The 35-year-old pop megastar—who recently completed her record-breaking Eras tour—is worth an estimated $1.1 billion, according to Forbes, $150 million of which she has invested in real estate.
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8/29/2025 Barbra Streisand’s Former Upper East Side Townhouse Sells for $15.9 Million—Leading Luxury Sales in New York City - Realtor.com

The New York City luxury market had a $15.9 million celebrity sale with Barbra Streisand's former Upper East Side townhome going to a new owner.
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8/26/2025 Legionnaires' cases investigated at Bronx condo complex - NBC

Authorities are investigating at least two cases of Legionnaires' disease at a Bronx condominium complex to determine a possible connection, though they say those patients are not linked to the Harlem cluster that has infected more than 11 people, killing six of them, since late July.
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8/25/2025 ‘Your Friends & Neighbors’ creator pays $13M for Tribeca pad in celeb-friendly building - Crain's

A Tribeca building’s ties to Hollywood just got tighter. Screenwriter Jonathan Tropper, known for creating the Apple TV+ series Your Friends & Neighbors, and his wife, Stephanie Abram, have purchased a 3,000-square-foot condo unit on Greenwich Street for $13.3 million, according to a deed filed in the city register Thursday.
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8/22/2025 Brooklyn developer planning pair of Manhattan condo projects - Crain's

A Gravesend-based developer is planning to bring a pair of new luxury condo projects to Manhattan, including one that would rise on the site of the former Upper East Side carriage house of a JPMorgan executive from the early 20th century.
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8/20/2025 Does good cause eviction threaten Naftali’s Fifth Avenue condo? - Real Deal

You probably weren’t thinking about “good cause eviction” when you read in The Real Deal last week that Miki Naftali plans to demolish 800 Fifth Avenue after buying it from Eliot Spitzer. But Naftali surely did.
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8/14/2025 Cleveland Guardians co-owner pays about $18M for a condo on Billionaires Row

An owner of the Cleveland Guardians baseball team has a new home base on Billionaires Row. Home improvement entrepreneur Matt Kaulig has purchased a 3,400-square-foot unit at Central Park Tower, the 98-story Midtown spire considered the tallest residential building in the world.
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8/12/2025 $87.5M West Village penthouse enters contract, could be new downtown record - 6sqft

A penthouse in the West Village listed for $87,500,000 has found a buyer, potentially becoming the most expensive apartment ever sold in downtown Manhattan. As first reported by The Real Deal, the duplex apartment at 140 Jane Street, a boutique condominium currently under construction, measures roughly 9,500 square feet and features six bedrooms and seven baths. If the home fetches the asking price, it would be the priciest residential property sold in the area, beating out Jeff Bezos’ $80 million condo buy in 2019.
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8/7/2025 Inside Daniel Neiditch’s Vision: Sustainability and Luxury at The Atelier Condo - My Champlain Valley

Daniel Neiditch, President of River 2 River Realty, is a name synonymous with luxury real estate in New York City, and nowhere is his vision more evident than at The Atelier Condo. Located at 635 West 42nd Street in the heart of Manhattan, The Atelier has become a benchmark for sustainable, amenity-rich, and future-forward living. Under Daniel Neiditch’s leadership, the building has not only defined luxury but has also redefined what environmentally conscious urban living can look like.
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8/4/2025 Inside a whimsical NYC co-op whose lobby was inspired by a Beatles song — and where a studio asks $425K - NY Post

By the time Dr. Scott Keller walked through the whimsical lobby of 215 E. 24th St. in 2007, he already knew he was home. The longtime chiropractor and part-time musician had spent two years searching for an apartment.
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8/2/2025 East Village dry cleaner building set for demolition, making way for 11-story condo complex - New York Business Journal

A long-standing East Village business is set to close its doors as developers eye the site for a major transformation. Find out what's in store for this prime Manhattan location.
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7/28/2025 Artist’s psychedelic NYC condo returns to market — with a $2M price chop - NY Post

It turns out even a kaleidoscope can come with a markdown. Apryl Miller’s technicolor Upper East Side apartment — an exuberant swirl of painted floors, bright tiles, geometric mosaics and custom Lucite-legged kitchen furniture — is back on the market with a new, lower price, The Post has learned.
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7/25/2025 Upper West Side Condo Asking $21 Million Topped Manhattan Dealmaking Last Week - Mansion Global

An Upper West Side condo spanning the 42nd floor of a new development topped dealmaking in New York City last week asking $21 million. It was one of 29 luxury homes to go into contract in Manhattan in the week ending Sunday, according to a roundup of deals from Olshan Realty, which defines luxury as at least $4 million. The deals comprised 20 condos, five co-op apartments and four townhouses.
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7/21/2025 New York City's Luxury Housing Market Sees a Summer Slump—but Is It the Mamdani Effect? - SF Gate

The luxury housing market in New York City is seeing a slight slowdown, despite summer being in full swing. The latest Olshan Luxury Market Report reveals 19 contracts were signed for the week ending July 13.
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7/18/2025 Commentary: Change condo building rules to help fill in housing's "missing middle" - Times Union

New York’s housing conversation is finally shifting from whether we should build to how. The state has taken overdue steps on tenant protections and zoning reform, but one of the most persistent gaps in our housing system is the lack of support for ownership in the “missing middle.”
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7/14/2025 Park Slope ‘Car Condominium’ Sells For $250K Amid City Housing Crisis - Streetsblog NYC

What can $250,000 get you in one of the most expensive cities in the world? Perhaps a 20 percent down payment on a $1 million dollar three-family home in Brighton Beach? Or on a two-bedroom co-op in Chelsea? You could buy a one-bedroom apartment in Midwood, or one in Jackson Heights. Or even a two-bedroom apartment in Riverdale. Or a condo in Canairse that comes with its own deed separated parking spot (and pool access!).
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7/11/2025 Record-high rents and bidding wars leave NYC house hunters scrambling for shelter this summer - NY Post

Daniela Mora, a stand-up comedian and content creator, found nothing to laugh about when she began her hunt for a one-bedroom rental in Manhattan this year. In order to find a new lease by June 1, Mora’s May consisted of scouring StreetEasy at all hours of the night and spending her spare time schlepping across the city to open houses.
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