In 1882, the developers of the Rembrandt, the first NYC co-op apartment building at 152 West 57th Street, declared they were seeking “people of means and good social standing,” as owners. Today co-ops still make up the majority of the housing stock in NYC. But the age of the co-op is well and truly over: Since 2000, developers have moved to create a mere 75 new co-op projects, and no more than seven total in any given year, according to ...

With the significant increase in downtown residential properties — many of them rental apartments — in tandem with construction of multipurpose developments, retail stores, restaurants, supermarkets, a mass transit hub and cultural institutions, Miami’s downtown has become a dynamic and vibrant area.
According to a February report from the city’s Downtown Development Authority, rental construction was “very active,” with around 13,000 units proposed or under construction. Rents downtown have risen 5 percent annually on average for the last three years.
Continue Reading →