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A Henley & Partners study revealed that New York City (NYC) has the highest concentration of millionaires globally. The ranking comes as no surprise, given NYC’s status as the largest city in the United States, boasting a population of over 8 million residents. In comparison, the Bay Area, coming in second globally, has approximately 7.75 million inhabitants. Thus, on ...
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Currently, the Fed has maintained its benchmark interest rate at a 23-year high to combat inflation, resulting in elevated mortgage rates. This has deterred many potential buyers, especially those with limited funds. Meanwhile, existing sellers, benefiting from historically low mortgage rates of around 3 percent, have been reluctant to enter the market, fearing higher rates upon purchasing a new property.
A rate cut by the Fed could theoretically prompt more sellers to list their apartments. However, such a move might not substantially alter the landscape for buyers. Lower ...
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A welcome escape from New York City’s typical hustle and bustle will now be open all year — and just a short ferry ride away.
The 172-acre island in New York Harbor opened wide to the public in 2006 after decades as a military installation.
Governors Island starting Nov. 1 will be open from 7 a.m. to 6:15 p.m.
NYC Ferry service will be offered on the South Brooklyn Route during weekdays and non-summer weekends, in addition to the existing Pier 11/Wall Street summer shuttle.
(source: patch.com, picture: patch.com)
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According to a recent Zumper’s report, the city’s median rent for a one-bedroom apartment — $2,680 — is currently the second-highest in the nation, only $40 behind San Francisco’s $2,720, and New York City has seen much more growth than San Francisco in recent months.
The city posted a 4.3 percent month-over-month gain in median one-bedroom rent in July, making prices just 5.6 percent lower than they were this time last year; in comparison, San Francisco prices are currently down 15 percent compared to the previous year.
“With the COVID vaccine widely available, renters are adapting to a ...
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The Covid-19 pandemic has made it almost unrealistic for international investors to purchase real estate in New York City and the United States in general. Either because of some objective impediments such as travel restrictions or uncertainty about what would happen at the market level, especially luxury and high-end investments.
However, some real estate agents, including us, are seeing a rebound in international interest.
With the easing of restrictions and pandemic measures, overseas buyers are enticed by the idea of getting discounts and the feeling that this window of time is already closing. In fact, according to the consistently ...
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New signed contracts for co-ops, condos, and 1-3 families combined doubled in January, year over year, for the second annual increase since the lockdown ended. New listing inventory fell sharply year over year for the fourth straight month.
(source: Miller Samuel)
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