Townhouse Resurgence in New York?

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Townhouse Resurgence in New York?

Manhattan’s townhouse market has struggled in recent years. In 2016, there were 454 deals valued at $3.1 billion compared to 492 deals totaling $4.2 billion in 2015 (source: townhouse brokerage Leslie J. Garfield). And 2017 wasn’t much better — only 100 contracts signed for townhouses asking $4 million and up, representing an 11 percent drop from 2016 (Source: Olshan Realty).

But there might be a light at the end of the tunnel. The following record-setting deals ...

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Construction update: NYC and South Florida

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Construction update: NYC and South Florida

2018 is set to be a record year for construction in NYC, with spending expected to top $52.5 billion, exceeding the 2016 peak of $52.2 billion, according to the New York Building Congress. Building Congress also anticipates the three year outlook of the construction industry to be “white hot.”

In 2018, 15 million square feet of office space is slated for completion in Manhattan, while another 2 million square feet is coming in Brooklyn and Queens. Some of the biggest projects ...

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Miami and the Argentines

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Miami and the Argentines

Some foreign buyers come to South Florida because of political instability and lack of security in their countries, others because of the sunny weather, beaches and everything else Miami has to offer.

Whatever the reason, Miami has become one of the most desired international real estate markets. And while buyers from Russia, Brazil, Colombia and Venezuela have drawn the biggest headlines for their respective impacts, lately Argentines have not received nearly enough ...

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NYC: Investment Sales

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NYC: Investment Sales

According to a Cushman & Wakefield, commercial investment sales (or: sales of buildings) are expected to be down by 44 percent by the end of the year (when compared to 2016), though there are signs that 2018 could be much sunnier.

Cushman’s data show that land prices fell 17 percent this year, retail is down 8 percent, office space declined by 4 percent, elevator apartment buildings fell 3 percent and walk-up multifamily buildings declined 1 percent. “We ...

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Real Estate Tech: Nextdoor App

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Real Estate Tech: Nextdoor App

Nextdoor, the private social media app on which neighbors can find out about both block parties and break-ins, raised $75 million in a new round of funding that potentially values the platform at $1.5 billion. Its latest investors were not disclosed. In the past, Venture capital firms Benchmark, Greylock Partners, Kleiner Perkins Caufield & Byers and Insight Venture Partners all provided funding.

Nextdoor, led by Nirav Tolia, strives to be the internet’s “yellow pages,” connecting neighbors via ...

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Neighborhood focus: Jackson Heights, Queens

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Neighborhood focus: Jackson Heights, Queens

In Jackson Heights prices are skyrocketing but there are still deals to be had. One bedroom apartments range here between $300,000 and $450,000 in most instances.

The prewar co-ops and many subway lines serving the immigrant neighborhood of Jackson Heights have come to be increasingly enticing to a new, deeper-pocketed cohort. As a result, median prices have gone up 71 percent in the neighborhood since 2012.

The neighborhood is very cosmopolitan, some experts say 167 different languages are spoken there. Jackson Heights ...

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