One side of a SoHo street received protection as a historic district in 1973. Why does the unprotected side look so similar? The Landmarks Preservation Commission is reviewing a proposal to include the west side of West Broadway in the SoHo-Cast Iron Historic District
Rents in Manhattan increased in April, while the overall vacancy rate fell from 1.31 percent in March to 1.21 percent, according to a report by brokerage Citi Habitats.
Months before the completion of one of Downtown's largest townhouses, seller Steven Schnall said he has already seen interest from several potential buyers for his mansion at 2 North Moore Street in Tribeca, which hit the market with a $35 million price tag last month.
Critics say that the process the city uses to determine when to build new schools is flawed, preventing construction from keeping pace with residential development.
Private firms are buying up rent-regulated buildings and harassing tenants to increase vacancies, advocates say. They began seeing what they consider a pattern of harassment of low-income tenants this year and suspect that it is a result of the new owners’ business models.
The pair of buildings, by Jack Parker Corp. at 34 Desbrosses St., started rising on Watts and Desbrosses Sts. between Washington and West Sts. after the developer won a rezoning of four blocks in Northern Tribeca in 2006.
Students at P.S. and I.S. 89 have been waiting since last fall for the laptops promised by Time Equities, Inc. as part of a deal with the city to develop 50 West St.
In Manhattan below Chambers St., the number of housing units grew from 13,046 in 2000 to 28,613 this year, according to the Downtown Alliance. For every 10 new units of housing, the city should build at least one new elementary school seat, based on a formula from the City Environmental Quality Review technical manual. That means the city should have built at least 1,557 new elementary seats in Lower Manhattan in the past eight years.
The Landmarks Preservation Commission on Tuesday told St. Vincent’s Hospital and the hospital’s redevelopment partner, the Rudin Organization, to go back to the drawing board and come up with an entirely different project than the one submitted on Dec. 31.
Senator Richard C. Shelby’s links to the mortgage industry are raising questions because of his role in deciding the fate of a bill to help struggling homeowners.
Many on Wall Street, the epicenter of the credit mess, seem to think that the worst is over. For the first time in months, analysts and executives sound upbeat again. Many of them see a broad, sustained recovery in both the economy and the financial markets coming in the second half of this year, a prediction some market strategists call hopeful at best.
The House Financial Services Committee pushed forward with an aggressive effort to help troubled homeowners, approving legislation that would make up to $300 billion in federally insured loans available to refinance the mortgages of borrowers in danger of foreclosure.
In the statement, the Fed governors said seemed to signal that inflation was still a concern. They said a “substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help to promote moderate growth over time and to mitigate risks to economic activity.”
The weak performance reflected the increasingly thrifty inclinations of American consumers in the face of plummeting real estate prices, tightening credit and a deteriorating job market. Economic growth was also hampered by a continued pullback in construction and business investment.
The debate over a property tax cap in New York may be finished before it started. Weeks before a special state commission is expected to recommend a plan for imposing a cap on local school property tax increases, state lawmakers are signaling that the proposal will be dead on arrival.
New York City Councilman and Peter Cooper Village resident Dan Garodnick helped Stuy Town (square) dance its way toward landmark designation recently, as tenants of the 110-building, World War II-era housing complex officially (re)launched their landmarks campaign.
The mortgage industry, facing the prospect of tougher regulations for its central role in the housing crisis, has begun an intensive campaign to fight back. One common industry criticism of the plan to put in place tougher regulations is that tighter rules could make many mortgages more expensive.
Inventories rose to the highest point in more than a quarter century as sales of new homes fell 8.5 percent, a far sharper decline than economists had forecast.
At the start of the spring selling season, the Manhattan luxury market is blessed with some two-of-a-kind town houses twins, giving buyers a chance for some real comparison shopping.
The dream: finding a one-bedroom, one-bath apartment in an elevator building with a doorman in Greenwich Village for $2,000 a month. The reality: nearly impossible. Everything you need to know to beat the competition and find that elusive place to live in New York City.
An $801,000 co-op sold at the Dakota, at 1 West 72nd Street facing Central Park, appears to have set a record as the highest-priced basement storage room in the annals of New York real estate.
Why haven’t housing prices dropped so much in some big cities? It might have something to do with the movement of ideas. In 1996, $300,000 would have bought you either a four-bedroom house on Spear Street in Vermont, or a small two-bedroom apartment in Manhattan. Today the house would sell for about $600,000, while the apartment would cost more than $1 million.
Casting aside partisan differences, Senate Democratic and Republican leaders said that they would work urgently on a package of legislation to help millions of homeowners at risk of foreclosure. The push is the latest sign of a growing consensus that broader government action is needed to prevent a torrent of new foreclosures.
The New York City Council approved a measure urging state lawmakers to vote in favor of Mayor Michael R. Bloomberg's congestion pricing proposal. The vote was 30 to 20, with one member absent.
Jean Nouvel, the bold French architect known for such wildly diverse projects as the muscular Guthrie Theater in Minneapolis and the exotically louvered Arab World Institute in Paris, has received architecture’s top honor, the Pritzker Prize.
The new Cooper Square is all three. The area is a jangle of architectural styles: cast-iron facades garlanded with putti and cockle shells, an aspiring Parisian hotel with a Gallic mansard roof, and the copper-domed Ukrainian church. What the neighborhood needed most was a new wave of inspired idiosyncrasy.
Those overseas buyers who’ve been rumored to be driving the New York condo market may be starting to slam on the brakes according to this story.
In more than 300 cities and counties across the United States, residential developers are asked — or forced — to include a certain amount of affordable housing in their projects.
A plan that would give the Federal Reserve broad authority to oversee financial market stability could expose Wall Street to new scrutiny, but it avoids a call for tighter regulation.
If you compare the Slope’s price trend with that of Tribeca—the richest Zip Code in New York, and by some measures the most desirable—the difference is stark.
The Department of Buildings is expects to finish inspecting the city’s 30 tower cranes by April 15. Then the department will inspect the rest of the city’s approximately 220 cranes, which will take until the end of May.
Forest City Ratner said it has closed on $680 million in construction financing from a consortium of banks led by Eurohypo AG for its Beekman Tower residential development in Lower Manhattan, which had been stalled for several months. Forest City had been under pressure to get the Beekman project restarted, because the tower includes a 630 student K-8 school that was scheduled to open in the fall of 2009 and will open by 2010.
Senator John McCain of Arizona warned against vigorous government action to solve the deepening mortgage crisis saying that “it is not the duty of government to bail out and reward those who act irresponsibly".
The value of single-family homes plummeted 10.7 percent in January compared with a year earlier. However, sales of previously owned homes ticked up last month, according to the National Association of Realtors, ending a six-month streak of declines.
Shares soared after negotiations salvaged the bailout of the investment bank Bear Stearns and the Realtors reported that housing sales snapped a six-month streak of declines.
The finance industry was responsible for nearly a third of all wages earned in New York City in 2007, the highest in modern times.
A cash infusion advances the government sponsored enterprises' (GSE) ability to securitize home loans, which makes it easier for people to get credit because lenders have a government sponsored guarantee should the loans falter.
In the commercial real estate world as elsewhere in the capital markets, the speed and depth of Bear's fall left onlookers gasping for breath and grasping for comprehension, something that has been in increasingly short supply in recent weeks alongside the dollar's value.
The slumbering block between Lafayette Street and the Bowery is waking up. Landmark designation is pending, but it will come too late to save a nifty little 1898 building at 30 Great Jones.
Brokers estimate that as many as a quarter of all buyers solicit third-party views and that 10 to 25 percent of the deals fall apart as a result.
A building boomlet of name-brand designs is poised to transform residential New York. They reveal an unmistakable shift in the appetites and aspirations of an elite group of New Yorkers for whom an apartment’s architectural pedigree has become a new form of status symbol.
The Office of Federal Housing Enterprise Oversight of Fannie and Freddie Mac, which buy home loans and guarantee bonds backed by mortgages, said it was reducing their required capital cushion against losses. The move could stimulate home purchases or refinances within a month or two.
This may not be comforting, but your confusion is shared by many people in the middle of this financial crisis. The overwhelming majority of homeowners are doing just fine. So how is it that a mess concentrated in one part of the mortgage business — subprime loans — has frozen the credit markets, sent stock markets gyrating, caused the collapse of Bear Stearns, left the economy on the brink of the worst recession in a generation and forced the Federal Reserve to take its boldest action since the Depression?
The growing possibility that much of the multibillion-dollar Atlantic Yards development in Brooklyn will be scrapped because of a lack of financing may be a bitter pill for its developer, Forest City Ratner. But it’s also a painful setback for urban planning in New York.