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Midtown East Rezoning
The Department of City Planning has made public the new plan to rezone Midtown East. The proposal allows for office buildings of over 900 feet in height to be built in the vicinity of Grand Central Station; outside of this core area the limit will be 700 feet.
The 20 year plan, that has to be approved by the City Council, aims at adding a few state-of-the-art office towers in order for Midtown East to maintain its …

The fundamentals of the NYC Real Estate market have been growing stronger for the past two years. The inventory (number of units available on the market) has been slowly shrinking and prices have started a new upward trend over the past 12 months.
Financing has become more feasible, even for buyers that cannot afford 20% in down payment. Lenders are now offering mortgages at very enticing low rates and the transactions activity is good.
The switch away from a buyer’s …

Wall Street is convinced that your house is a better investment than you think. In the past six months, a number of investment firms, hedge funds, private equity partnerships and real estate investors have turned into ravenous buyers of single-family homes – and not just any homes… but foreclosures. Investment banks, who also want in on the action, are lining up financing options to continue the acquisitions. For instance: about a year ago, private equity powerhouse Blackstone Group wasn’t even …

The third-floor walk-up, located at 142 W. 109th St., where President Obama lived while he was a student at Columbia University in the 1980s, is on the rental market. The two-bedroom prewar unit is being offered for $2,400 a month (Obama and a roommate paid $360 back in 1981). The apartment was last on the market in 2010, when it rented for $1,900 a month. “Who knows, you just might end up in the White House one day,” the listing …

This stretch of land, which takes its name from the little canal that was part of the city landscape between 1811 and 1819 intersecting Manhattan from east to west at this site, is about to undergo a process of change and gentrification.
At this time Canal is still mostly a chaotic aggregate of souvenirs, fake bags and cheap technology shops. To be noted though is the fact that the landlords who own the buildings where these stores are located are …

The median price for a new construction condo in Manhattan went up 10% from May 2011 to May 2012.
Several elements point to a new wave of condominiums construction in NYC. A project that reopened the gates of positive thinking is One57. Especially for its size (the condo is the tallest residential structure in the Manhattan), One57 has had a significant psychological impact pushing people to believe that, even in less than favorable economies, big projects can be brought to …