Tourists are back in New York City

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Tourists are back in New York City

New York City is experiencing a tourist resurgence, highlighted by record-breaking attendance at the U.S. Open and a nearly 10% increase in jobs within the hotel and restaurant sectors.

Nevertheless, Chinese travelers remain notably absent due to travel restrictions and long visa wait times; NYC remains on track to welcome an estimated 63.3 million visitors this year, representing a 12% increase from the previous year. Times Square, in particular, has witnessed a vibrant revival, with pedestrian traffic exceeding pre-pandemic levels and spending rebounding to 92% of ...

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Brooklyn’s tallest tower lists for sale

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The residential Brooklyn Tower at 9 DeKalb Ave., standing tall at 1,000 feet, is set to hit a record-breaking price point. Douglas Harmon and Adam Spies at Newmark are currently marketing the property, and it’s expected to fetch a price of over $600 million. This news was reported by Green Street in its Real Estate Alert, which stated that only 13 of the city’s residential buildings have ever sold for more than $500 million. Although the sale won’t ...

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Manhattan Market Pulse – March 2023

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Manhattan Market Pulse – March 2023

The monthly contract activity stood at 816 in February, down 31.1% compared to last year and down 13.9% from the 948 historical average for the month of February. The Median Sales Price is $1,075,000, at the moment, down -6.7% from last year. The supply, which is the number of units on the market, stands at 6,429, up 1.7% from a year ago. While the number of pending sales, which is the number of currently in contract units, stands ...

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Manhattan office leasing has busiest month of Covid era

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Manhattan office leasing has busiest month of Covid era

Companies still want a piece of Manhattan. Some 3.4 million square feet of office space was leased in August, the most since January 2020, when the first Covid cases began to pop up in New York City.

Notably, space in Midtown is steadily getting harder to find. More space was newly leased than became available in Manhattan’s central business district decreased for the sixth straight month, as was the case for Manhattan as a whole.

However, Midtown’s available office space has increased by 36 percent since March 2020. Modest compared to Midtown South (where it has more than doubled), Downtown (up ...

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Young, hip New Yorkers are bringing Midtown back

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Young, hip New Yorkers are bringing Midtown back

Move over, Williamsburg. Here comes … Midtown?

The skyscraper-laden district stretching from 34th Street to Central Park South was disemboweled by the pandemic and continues to bleed office tenants. But while older office towers languish, young home buyers have flocked to the neighborhood, eager to take advantage of prices that haven’t soared like they have in the rest of Manhattan and much of Brooklyn.

The pandemic accelerated a pre-pandemic trend of hipper residents moving to Midtown, as stodgy bankers and executives moved away, usually for bigger spaces elsewhere in the city or ...

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Magician Runs 116 Miles Around Central Park

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Magician Runs 116 Miles Around Central Park

Ultra-runner and magician Oz Pearlman just set a record for the number of laps run around the iconic 6.1-mile road in Central Park.

Pearlman ran 19 loops, a staggering 116 miles, 18 miles more than the previous park record set just last year, running nonstop from 6 a.m. on Friday to 1 a.m. on Saturday. The record-setting effort was in support of the Save the Children Ukraine Relief Fund, ending up raising roughly $100,000.

“As a parent of three young children, my heart breaks seeing the horrific violence in Ukraine and its impact ...

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