StreetEasy's 2017 New York Housing Market Predictions

January 9, 2017 | by Streeteasy Team
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Every year, StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. A year ago, we predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and a greater rent burden for Brooklynites. Heading into the New Year, we dusted off our crystal ball – that is, our extensive market data – to forecast some of the leading trends that will shape the city’s sales and rental markets in 2017. Manhattan Sales Market Will Have Slowest Growth of All Boroughs Where high demand and high-priced inventory kept Manhattan resale prices soaring over the past few years, luxury is now what’s dragging the marke... Read More

NYC Real Estate Experts Offer Their 2017 Predictions

January 9, 2017 | by Emily Nonko
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CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, renters can look forward to more apartment concessions from landlords coming next year. President Donald Trump will have big effects on NYC real estate Stephen DeNardo, CEO of RiverOak Investment Corp. The day after the election, Crain’s New York Business ran the headline: “President-elect Trump unlikely to hurt real estate industry that made him.” Th... Read More

Top 10 biggest real estate projects coming to NYC

August 15, 2016 | by Kathryn Brenzel
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The largest New York City real estate developments proposed in permit applications last month included a tennis stadium and one of famed architect Zaha Hadid’s final designs. The largest new development permit filed last month was for the Louis Armstrong Tennis Stadium, which is part of the U.S. Tennis Association’s Billie Jean King National Tennis Center in Flushing Meadows-Corona Park in Queens. The new stadium will replace the original, which was built in 1964 for the New York World’s Fair and then became the centerpiece of the U.S. Open before the facility was expanded in 1997, according to the USTA’s website. The new stadium is slated to be ready for the 2018 U.S. Open. Four of the top 10 largest projects proposed last mont... Read More

Sales Spike In The Bronx and Staten Island As NYers Seek Affordability

May 22, 2016 | by Tanay Warerkar
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Home sales on Staten Island, and the Bronx experienced significant gains compared to the rest of the city, the New York Post reports, based on recent findings released by the Real Estate Board of New York (REBNY). Sales in the Bronx and Staten Island increased by 35 percent in the first quarter of 2016. "With growing interest and activity, particularly in the Bronx and Staten Island, home buyers are finding and being attracted to more options at various price levels throughout all five boroughs," sJohn Banks, III, the president of REBNY, said in a press release. "The demand for housing continues to resonate throughout New York City and the strong residential sales activity throughout the city is driving healthy overall price increases."... Read More