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Is it better to rent or buy in NYC?

August 8, 2019

There’s no one-size-fits-all answer to the age-old question Matthew Williams Expensive and New York City are two words that often go hand in hand, especially when we’re talking about real estate. The city has been the second-most-expensive place to rent in the country for several years now, behind only San Francisco. The median rent for a one-bedroom recently surpassed $2,900, while a two-bedroom can easily cost upward of $3,200. ...

Filed under: Headlines by Alec Reimon

August: No Longer The Dead Zone For Real Estate

August 8, 2019

With each passing year, more buyers recognize that and use the summer to find those opportunities and lock them down. Photo by Patrick Tomasso on Unsplash August, the month when residential real estate in New York dies as everyone goes to the countryside. The conventional wisdom when I entered the business was that transactions in the city slowed to a halt when July rolled around; all the families vacationed in Long Island or Connecticu...

Filed under: Headlines by Alec Reimon

Who Says New Yorkers Are Rude? Survey Shows Big Apple Is Friendliest City In Nation

August 7, 2019

GETTY IMAGES New York doesn’t exactly have a reputation for congeniality. Eye contact is often considered rude, saying “hello” takes up precious spare time in a day, and knocking over someone’s $1 cup of deli coffee is an unofficial crime. A new report from StreetEasy and its sister brand Zillow, however, found that New York is in fact the friendliest city in the United States. Nearly a third (31%) of New York City homeowners su...

Filed under: Headlines by Alec Reimon

Here’s What You Need To Know To Survive NYC’s Summer Rental Market

August 6, 2019

Summer is the hardest time to rent an apartment in New York City, so be prepared to pounce. GETTY The crippling heat waves and power outages aren't the only things that make summer in New York City unbearable. It's also the worst time to look for a rental apartment. "The worst time to look is when demand is at its highest during the summer months," says Eric Mendelsohn of Warburg Realty. However, not everyone can choose to look during th...

Filed under: Headlines by Alec Reimon

Manhattanites need to make $115K to afford the average 1BR rent in the borough: report

August 6, 2019

In many neighborhoods, you’ll need a six-figure salary to afford a studio or one-bedroom It’s no secret that New York City is a very expensive place to live, and that rents are soaring—especially in Manhattan, where just last month the median rent reached an average of $4,190/month. But with costs dramatically increasing, are New Yorkers’ salaries keeping pace? (Spoiler alert: Not really.) A new StreetEasy study looked ...

Filed under: Headlines by Alec Reimon

Want to buy an investment apartment to rent out? Here’s what you need to know

August 6, 2019

A one-bedroom Tribeca condo, 181 Hudson St., #5B, is on the market for $1,850,000. The desirability of the prime Manhattan neighborhood offers protection from volatility. Buying an investment property is out of reach for many New Yorkers, but for those who can swing it—and can handle the responsibilities of being a property owner, such as vetting potential tenants and dealing with midnight plumbing emergencies—it’s a great way to make some ...

Filed under: Headlines by Alec Reimon

A Deep Dive: Pools in NYC condos and rentals making the biggest splash

August 5, 2019

Brooklyn Point via Williams New York On the heels of a blistering heat wave where temperatures peaked at 113 degrees Fahrenheit, New York started the week with two days of temperatures with a "real-feel" of around 100 degrees. A meteorologist points out that it takes three consecutive days of heat to be considered a heat wave, but the distinction is not likely to matter to sweltering New Yorkers. On days like this, there's nothing...

Filed under: Headlines by Alec Reimon

Eco-Friendly Mansions Can Hold Hidden Bargains for Home Buyers

August 2, 2019

There’s still a premium on “green” construction costs, but that doesn’t necessarily translate to resale prices. Photographer: DERRICK LOUIE In 2012, Dani Mouawad purchased a 1.55-acre piece of property in Chapel Hill, NC, then spent 10 months constructing a “sustainable, natural, health-promoting” house. The building was made out of straw, clay, plaster, and lime, with a living roo...

Filed under: Headlines by Alec Reimon

Almost 40% of U.S. Homes Are ‘Free and Clear’ of a Mortgage

August 1, 2019

More Americans are living mortgage free. Source: Housingwire About 37% of U.S. households are “free and clear,” meaning they no longer have a home mortgage to pay, according to a Zillow data analysis. This number ticked upward after the Great Recession and over the past 10 years the share of homeowners paying off their mortgages has risen 5.5 percentage points. “In general, higher home equity is financially preferable and the ...

Filed under: Headlines by Alec Reimon

The Upper West Side’s oldest buildings are posh once more

August 1, 2019

Then and now: The Belnord is a 1908-built Gilded Age apartment complex that takes up an entire city block at 86th and Broadway. HFZ Capital and Westbrook Partners are converting the rental into condos that are currently for sale from $4.99 million. New York Public Library Digital Collections; Stephen Yang When the Gilded Age began in the 1870s, New York City was on the cusp of a new era. There were no subways, people ...

Filed under: Headlines by Alec Reimon

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