Archive for the ‘New York’ Category

Sterling Equities, Enterprise Asset Management nab Brooklyn rentals for $21M

Source: The Real Deal Midtown-based landlord BCB Property Management sold a pair of Brooklyn buildings for a combined $21.2 million, a spokesperson for the seller told The Real Deal. Sterling Equities, led by New York Mets owner Fred Wilpon, acquired the five-story walk-up building at 250 Pacific Street in Carroll Gardens. Enterprise Asset Management bought [...]

Tax rate on commercial properties rises 3.5 percent

Source: The Real Deal While Mayor Bill de Blasio is catching flack for downplaying a property tax increase for many city homeowners, he seems to be saying very little about a property tax hike on commercial real estate. Earlier this week de Blasio reportedly boasted he was proud of the fact that the first budget [...]

Rentals in demand: Three-bedrooms holding their own

Source: The Real Deal Despite the recent surge in demand for two-bedroom rental apartments, three-bedrooms are seeing their own deluge of inquiries from prospective renters, according to Zumper, an apartment listings website. Three-bedroom units had 23 percent of leads and a median inquiry of $4,300 per month last week. The week before, it had 13 [...]

NYC stills has some 800 zombie properties

Source: The Real Deal New York City’s residential market may be hot, but Brooklyn and Queens are still plagued with “zombie” properties —abandoned homes where the bank has failed to complete the foreclosure process. Across the five boroughs there are roughly 807 deserted homes, according to the New York Post. In Brooklyn there are 250 [...]