Tag: real-estate-newsletter

City Council passes package of flood protection bills authored by Council Member Gennaro

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Dec. 11, 2024 By Athena Dawson The New York City Council passed a package of bills on Thursday, Dec. 5, aimed at addressing increasing flooding issues across the city. The legislation, Intro 0814 and Intro 0815, was introduced and authored by Council Member James F. Gennaro, who represents District 24, covering neighborhoods such as Briarwood, Fresh…

Long Island City development moves forward with $70M loan for 26-story building

Dec. 10, 2024 By emarshall Dec. 10, 2024 By Ethan Marshall The real estate developer Slate Property Group announced that it has partnered with White Oak Real Estate Capital to provide a $70 million construction loan to Watermark Capital Group for the development of a 26-story, 184-unit multifamily building at 41-08 Crescent St. in Long… Read more »

Divided support in Queens: City Council approves Mayor Adams’ ‘City of Yes’ plan despite opposition from half of Queens Council members

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Dec. 6, 2024 By Colum Motherway Mayor Eric Adams’ controversial zoning reform plan, “City of Yes,” was approved by the New York City Council on Thursday, Dec. 5, with a 31-20 vote. The approval marks a significant step in the city’s efforts to address its ongoing housing crisis, though it remains highly contentious, particularly…

Queens rent continues year-over-year rise in October 2024: report

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Nov. 12, 2024 By Ethan Marshall Housing units in Queens had the average cost of rent go up 3.28% in October 2024, compared to the same month the previous year, according to a report by the real estate firm M.N.S. Real Estate. Year-over-year, the average rent in Queens rose from $2,803 in October 2023…

Average roommate rent in NYC hold steady in third quarter of 2024: report

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Nov. 7, 2024 By Ethan Marshall After the average rent for roommates in New York City spiked in the aftermath of the COVID-19 pandemic, a report by the roommate-finding site SpareRoom indicated prices began to stabilize during the third quarter of 2024, reaching $1,540. After hitting its peak average roommate rent of $1,625 during the second quarter…

New contracts in NYC get huge boost thanks to declining mortgage rates: report

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Oct. 16, 2024 By Ethan Marshall The number of homes entering contract across New York City increased significantly year over year, thanks in large part to a decline in mortgage rates, according to a report by the real estate listing site StreetEasy. Over this period, there was a 26.4% increase in homes entering contracts,…