A third of U.S. home sales comes from Cash Buyers

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A third of U.S. home sales comes from Cash Buyers

More and more homebuyers and investors are coming to the negotiating table and closing deals with cash in hand.

A third of all U.S. single-family homes and condominiums sold in the second quarter were purchased with cash, up from 20.6% a year prior, the highest percentage since the first quarter of 2015.

In New York the figure is 52%, but some metro areas saw even higher percentages. The highest was on the Rust Belt due to the late 20th-century loss of manufacturing jobs. In fact, in Buffalo and Detroit, the cash sales were 71% and 68%, respectively.

In general, bargain-hunting and single-family rental investors ...

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New development sales contracts jump 109% in New York

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New development sales contracts jump 109% in New York

Some 421 contracts were signed across the city in August, up 109% from a year ago and 88% more than August 2019, according to a monthly analysis of new development sales contracts by Marketproof, a real estate analytics company.

Notably, the new development condominium market grew last month while the resale market had a month-over-month decline. Although 533 resale contracts were signed, which outnumbered August’s new developments condo contracts, that marked a –7% decline compared with July for the resale market. For new development condos, August’s activity was up 16% from July’s.

(source: therealdeal.com image: 130william.com)

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Manhattan Luxury Reality Check

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Every week we hear of multi-million dollar properties going on the market and sometimes the asking price seems exorbitant, and it really is! With this report we will take a closer look at the numbers of the Manhattan Luxury Real Estate Market, giving you the opportunity to get an idea of what the actual selling price of ...

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$230M for Boca Raton apartments, the priciest multifamily sale of the year

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$230M for Boca Raton apartments, the priciest multifamily sale of the year

A new apartment community in Boca Raton sold for $230 million, marking the most expensive multifamily sale in South Florida this year.

Giles Capital Group, Rosemurgy Properties, Schmier Property Group and Wheelock Street Capital sold the 456-unit, seven-building development to Atlanta-based Cortland.

The Residences at Uptown Boca was completed last year, and the sale breaks down to about $504,000 per apartment. Units range from 718 square feet to 1,737 square feet and from one to four bedrooms.

According to the release, the Boca community includes a 24-hour gym and ...

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Miami is getting new amenities

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Miami is getting new amenities

A key stretch of Downtown Miami’s baywalk has been opened to the public. With the newly opened space, pedestrians will now walk along the bay on an uninterrupted path that starts from behind the Perez Art Museum near I-395 to the Miami River. Construction has been underway since at least 2019.

Soon, the walkway will be further extended. A pedestrian bridge has been planned to connect it beyond the I-395 to the Resorts World Miami and towards Edgewater. A pedestrian bridge that could even become a new tourist destination as the city is considering a $20 million plan to ...

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The most expensive townhouse of Upper West Side

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The most expensive townhouse of Upper West Side

After nearly five years of construction, located at 32 West 76th St., the most expensive Upper West Side townhouse is finally hitting the market at the price of $27.5 million.

Situated just off Central Park, the residence comprises six bedrooms and eight bathrooms and spans a massive 10,635 square feet. The entire townhouse was rebuilt from the ground up, with construction beginning in 2015.

Amenities include a high-speed elevator, a home gym, an indoor basketball court, a wine cellar, a luxurious outdoor space, and an expansive roof deck with an outdoor kitchen.

“Eventually it all worked out, but the basketball ...

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