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Manhattan Real Estate Market Pulse: Jan. 23

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Manhattan Real Estate Market Pulse: Jan. 23

Residential market

The monthly contract activity stood at 599 in December, down 46.4% compared to last year and down 9.1% from the 788 historical average for the month. The supply, which is the number of units on the market, stands at 5,860, up almost 2% from a year ago. While the number of pending sales, which is the number of units that are currently in contract, stands at 2,282; this value is 41.6% lower than a year ago. The ...

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To open a casino in NY the auction starts at $500M

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To open a casino in NY the auction starts at $500M

New York’s bid to award up to three licenses for full-fledged casinos, which would allow live table games and create more tax revenue for the state, advanced after officials unanimously voted to formally solicit applications, with an asking price of $500 million for each license.

The board will review each application and consider several factors, including how many jobs a prospective operator plans to create, how much revenue a casino expects to bring in, and a commitment ...

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NYC war against illegal short term rentals

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NYC war against illegal short term rentals

NYC is flooded with illegal short-term rentals that do not comply with New York City law or building board guidelines. But a new effort to block illegal short-term rentals is launching January 9th. That’s when a new law, Local Law 18, goes into effect requiring owners and renters to register their short-term rentals with the Mayor’s Office of Special Enforcement. Hosts will get a registration number to display in listings. Sites such as Airbnb, VRBO, Booking.com, and others ...

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Manhattan Real Estate Market Pulse | December 2022

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Is the residential sales market stabilizing?

Mortgage rates have been fairly flat in the last couple weeks and we might be seeing some stabilization taking place with some believing in a “soft landing” for the economy.

The monthly contract activity stood at 701 in November, down 46.7% compared to last year and down 18% from the 856 historical average for the month of November. The supply, which is the number of units available on the market, stands at ...

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How Much Will Cleaning Up NYC Cost?

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How Much Will Cleaning Up NYC Cost?

A $14.5 million makeover will clean up New York City’s trashy side, Mayor Eric Adams said.

Adams unveiled “Get Stuff Clean”, a (literal) sweeping effort to clean more than 1,000 neglected areas across the city.

“America’s biggest city is going to be America’s cleanest city,” he said. “We’re investing more than $14 million this fiscal year alone to participate in the largest cleanup effort in decades.”

More than 200 new sanitation workers will be added to cleaning efforts across the city, the ...

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The Museum of Broadway

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The Museum of Broadway

The brand new Museum of Broadway opened on Nov. 15th at 145 West 45th Street. Visitors will now be able to journey through the memories of the city’s legendary theater district — from its inception to present day.

Museum-goers will be able to marvel at props and costumes from various shows over the years, from the simple red dress worn by the title character in “Annie” to more elaborate garb used in “The Phantom of the Opera.”

The space ...

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