Manhattan Cap Rates and Real Estate Investors
Bloomberg Businessweek reports today Manhattan Apartments Lure Investors Seeking Market Foothold. Â Down in the rental trenches, we've seen a lot of building transactions as the 2008 financial crisis dislocated REIT balance sheets across the country. Â One notable includes Longacre...
Busy Summer 2009, What Lies Ahead for New York Rentals?
July to August 2009 has been exciting for the Manhattan rental market! The amount of transaction volume has been miraculously high. Landlords everywhere are swamped with renters finally biting at some of the greatest deals in 5...
Rent Guidelines Board Approves Rent Increases
At its meeting last night, the Rent Guidelines Board approved the following rent increases effective October 1, 2009:
Apartments where heat is provided at no cost to the tenant:
1 year lease - 3.0%
2 year lease - 6.0%
However, if the most...
Flip Tax Shortages: Double Whammy For Co-op Buyers
In today's piece, we take a break from the usual rant about no fee Manhattan rentals lists and focus on the sales market.
The Nasty Closing Cost: Flip Tax
After reading Teri Rogers's article in the New York Times, The Downside...
Weakening economy could be a boon to the NYC Renter
Given all the talk about the recession and financial "Armageddon," how will New York renters be affected in the near-term? Well, let me say straight up that rental prices are down significantly year-over-year, with November rents for doorman and...
