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
A commercial building available for rent in Melville, New York, April 17, 2023. Howard Schnapp | Newsday | Getty Images The tide could be turning for commercial real estate. The Federal Reserve began its interest rate cutting cycle in September, lowering the Fed funds rate for the first time since 2020 by 50 basis points,
The double-townhouse residence of the late jet-setting couple Mica and Ahmet Ertegun has sold for $9.3 million, Gimme Shelter has learned. The proceeds of the sale, at 121-125 E. 81st., went to their charity, said brokers involved in the deal. The home was asking $12.9 million. Mica, a noted interior designer who fled Romania after the
As mortgage rates stagnate around 6%, prospective homebuyers are feeling nostalgic for the 3% interest rates of 2020 and 2021. Google search results for the term “assumable mortgage” spiked in May, following a steady upward trend starting in 2022. Mortgage assumptions allow buyers to take over an existing mortgage at its current rate, possibly securing
New Yorkers may soon be seeing more of Italian basketball player Danilo Gallinari. The veteran forward has just signed a contract for a two-bedroom, two-bathroom home at One Williamsburg Wharf in Brooklyn, Gimme Shelter has learned. The news comes amid buzz that the New York Knicks may sign Gallinari to a contract for training camp
A pedestrian crosses a road in front of residential buildings in Beijing, China. Qilai Shen | Bloomberg | Getty Images China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation’s housing
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