Sales of previously owned homes inched up in November but that didn't change the overall bleak picture for an ailing housing industry that has been suffering through a painful slump.
At some point in every correction cycle...consumer psychology begins to change. People who need or want houses look around, see lower prices, affordable financing, and say: "Hey, this is a smart time to buy."
According to a decision released by the city's Conflicts of Interest Board, the mayor can invest in real estate as part of a move to diversify his portfolio. But, if he wants to invest in New York City real estate he'll have to come back to the board for a second opinion.
Fewer than a third of the 201 coveted apartments in 15 Central Park West have now closed. But of those, five apartments were put back on the market almost as soon as the ink on the deeds was dry
Trump Place on the Upper West Side and Battery Park City downtown had the highest percentage of city residents reporting more than $100,000 of taxable income.
Sportscaster Bob Costas paid just over $11 million for a condominium unit in the tony 15 Central Park West building, according to city records
Thirteen months after the renowned Cedar Tavern in Greenwich Village shuttered its doors to make way for construction of condominiums above, pre-marketing is slated to commence on a street bustling with new development.
In a move that underscores the mayoral aide Daniel L. Doctoroff’s continued influence over city development, Mayor Michael R. Bloomberg on Thursday named Robert C. Lieber, a key lieutenant of Mr. Doctoroff’s, to succeed him as deputy mayor for economic development.
According to Halstead Property's third-quarter townhouse report, which tracks one- to four-family non-commercial townhouses in the city, townhouse sales are actually up 6 percent from third quarter 2006.
While housing is slumping nationally...that's not the case with luxury real estate, $10 million or higher, which could soon make a splash in some areas thanks to an estimated $38 billion in year-end Wall Street bonuses.
A new and free Web-based search system called FlyRig is giving apartment hunters another place to sound off about brokers.
Ricky Martin bought a new condominium at Time Warner Center for $6.8 million. He sold it in September 2006 for $9.75 million a 30 percent gain. Now comes word that the buyers of Mr. Martin’s Time Warner condo have signed a contract a little more than a year later, for about $17.9 million, not quite doubling their money.
"It has been surprisingly resilient," Robert J. Shiller, the Yale economist and a creator of the home price indexes, said about the economy. He added that it was difficult to determine what impact the weakness in housing would have on the economy going forward.
"We called it the scary house on the hill" ... “We couldn’t believe it was sitting in the middle of the Bronx, and that it would be for sale at all.”
Home owners across the nation are looking to county governments to reassess the values of their homes in the face of flattening and falling prices that have befallen scores of markets.
Larry Silverstein's firm announced on Thursday that it had bought 1177 Avenue of the Americas for over $1 billion.
Work will start in January on 10 single-family homes with price tags of $2 million and up in Mill Basin, as well as 18 apartments starting at $599,000 in a building in Sheepshead Bay.
A six-story mixed-use building on the Soho-Little Italy border closed for $21 million. The new owners are planning on gutting the century-old building at Lafayette and Grand Streets.
Jeffrey C. Walker, chairman of CCMP Capital Advisors, has purchased a condo at 15 Central Park West for $20.65 million, according to public records.
As the real-estate boom year of 2007 winds down, houses of worship, schools, historic residences and whole neighborhoods tenuously exist under the threat of the wrecking ball.
All but two of the six family-owned businesses in the West Harlem Business Group, have sold their property to the university, leaving the two owners increasingly edgy about what might happen next.
The potential conflict arose when Deputy Mayor Dan Doctoroff announced that he would resign to become president of Bloomberg L.P., the news firm founded by the mayor. The issue centered on Vornado Realty, the landlord at Bloomberg L.P.'s mid-town building, which involved in lucrative deals with the city.
Stock markets surged on Friday as reports of talks on an investment in Merrill Lynch and a strong report on consumer spending lifted investors' spirits heading into the holiday weekend.