Amazon, which recently told 350,000 employees it wants them all back in the office five days a week, apparently needs more room for them. Jeff Bezos’ tech and retailing behemoth is in talks to lease all of HSBC’s 350,000 square feet at 452 Fifth Ave. when the bank moves to The Spiral next year, sources
You don’t have to believe Manhattan’s brokers when they say the wealthy have turned to renting — the numbers say it all. The amount of households raking in at least $750,000 and choosing to rent went up 10.5% between 2018 and 2022, according to the recent Federal Reserve’s Survey of Consumer Finances. Not only are
Many factors make it hard to buy a home today, but the one that makes “the biggest difference” in today’s market is the housing shortage, Property Brother Drew Scott said at CNBC’s Your Money event on Thursday. “I don’t think people realize this shortage of housing that we have affects everything,” added his brother Jonathan
A new-construction Palm Beach, Fla., compound has hit the market for $88 million. The estate, at 1540 South Ocean Blvd., comes with a guest house so new it’s still being completed — and a private tunnel to the beach on what locals call Billionaires’ Row. That said, it’s also near billionaire Ken Griffin’s compound —
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage demand moved lower again last week, even though mortgage interest rates didn’t move. Total mortgage application volume dropped 6.7% from the previous week, hitting its lowest level since July, according to the Mortgage Bankers
It’s a tale of two cities. While ultra-luxury office towers in hot ’hoods are seeing massive asking rents of up to $300 per square foot, side-street buildings are lucky to rent for a mere tenth of those prices. On average, Manhattan asking rents are roughly $77 per foot, according to CBRE, but many basic office
Sales of previously owned homes fell 1% in September compared with August, to a seasonally adjusted, annualized rate of 3.84 million units, the slowest pace since October 2010, according to the National Association of Realtors. Sales were 3.5% lower than in September 2023. Sales fell in three out of four U.S. regions, with just the
Bond traders are at it again, pushing Treasury yields higher and signaling the Federal Reserve was too heavy-handed when it cut interest rates by a half-percentage point last month. The recently rising yields have put pressure on the stock market — and specifically, names in our portfolio tied to housing. The 10-year Treasury yield —
Twenty/20 Saving for a home down payment can feel challenging, given current real estate prices. Using the right assets can help give your balance a lift. When you actually need the money is the “biggest driving factor,” said Ryan Dennehy, principal and financial advisor at California Financial Advisors in San Ramon, California. The firm ranked No.
Sales of previously occupied US homes slowed in September to the weakest annual pace in nearly 14 years even as mortgage rates eased and the supply of properties on the market continued to climb. Existing home sales fell 1% last month, from August, to a seasonally adjusted annual rate of 3.84 million, the National Association
Actor Bill Murray’s former New York estate, which once contained the famous firepole from “Ghostbusters,” is back on the market for $3.69 million. The property, at 19 and 28 Ludlow Lane, is in the secret celebrity enclave of Snedens Landing, 11 miles north of the George Washington Bridge, in the Rockland County hamlet of Palisades.
Matt Champlin | Moment | Getty Images When a real estate agent works with a prospective homebuyer, they’re required to point out physical or material defects in the property. A death on the property? It depends on the state where the house is located. In most states, death doesn’t count as a material defect requiring
Welcome back, Vessel! At long last, the iconic vertical sculpture and sightseeing platform at Hudson Yards will become a hive of activity again on Monday, reopening to the public after more than three years. The gently tweaked, 16-story architectural folly is now safe for everyone and was worth the wait. Hudson Yards developer Related Companies closed
Fashion Nova’s billionaire founder Richard Saghian has splashed out $30 million for a prime piece of Miami Beach property — two of them, in fact. The retail mogul scored two properties in a swift, all-cash deal: a luxe waterfront mansion and a house across the street, both located on exclusive North Bay Road, according to
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