real estate trends

Policy, real estate trends

New York tenant groups call for mass rent strike

By Devin Gannon, Fri, April 17, 2020

Photo by Emiliano Bar on Unsplash

A coalition of housing and tenant advocacy groups is calling for a statewide rent strike on May 1 with the goal of pressuring Gov. Andrew Cuomo to cancel rent for the duration of the coronavirus pandemic. Led by the Upstate Downstate Housing Alliance, the coordinated protest is seeking cancellation of rents for at least four months, a freeze on rent for every tenant, and a plan to house homeless New Yorkers.

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Policy, real estate trends

Photo by Filip Mishevski on Flickr

Starting this week, about 2,500 individuals experiencing homelessness in New York City will be transferred from shelters to hotels, Mayor Bill de Blasio announced on Saturday. The single adults who will be prioritized for the hotel rooms will include seniors and those who tested positive for the coronavirus or have symptoms of the disease. The move comes as 340 homeless New Yorkers have tested positive for COVID-19 and 20 have died, according to the city’s Department of Social Services.

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Policy, real estate trends

Photo by Anthony Formin on Unsplash

Just 69 percent of apartment renters in the United States paid rent during the first week of April, according to a new report released this week by the National Multifamily Housing Council (NMHC). This a decrease of 12 percentage points compared to the percentage of households that paid rent last month. The data is one of the first looks at the impact of the coronavirus pandemic–which has put millions of Americans out of work– on the housing market.

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City Living, real estate trends

Photo by Josh Wilburne on Unsplash

Some New York City landlords are providing their tenants financial respite during the coronavirus pandemic by waiving or discounting rent. The sudden closure of much of the economy has resulted in the loss of income for millions of New Yorkers, a burden felt especially by the city’s five million renters. One landlord who owns 18 buildings in Brooklyn suspended rent for the month of April for all of his tenants. Another is giving a Manhattan pizzeria owner three months of free rent as he continues to feed hospital workers at no charge.

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Policy, real estate trends

Photo by Jonathan Riley on Unsplash

Certain real estate work is still considered essential by New York, but showings cannot take place in-person, the state clarified on Thursday. In a notice to the New York State Association of Realtors, the Empire State Development earlier this week said home inspections, residential appraisals, back-office real estate work, and residential and commercial showings can continue during the coronavirus outbreak. But despite being newly categorized as essential, agents still cannot host traditional showings, as was previously reported.

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Policy, real estate trends

brooklyn brownstone for sale sign, brooklyn real estate, brooklyn brownstone for sale

Photo © 6sqft

Some real estate industry work is considered essential and can continue during the coronavirus outbreak, New York State announced on Wednesday. The reversal in policy, first spotted by the Real Deal, means real estate agents can now host in-person residential and commercial showings, as long as social distancing measures are taken (open houses are still prohibited). However, the Real Estate Board of New York quickly reached out to brokers and advised them against in-person showings.

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Features, real estate trends

Health and high-rise living: Is higher healthier?

By Cait Etherington, Wed, April 1, 2020

Photo by Aleksandr Rogozin on Unsplash

In 2019, NYC saw the completion of more than 15 new buildings over 500 feet, and in the coming couple of years, even more tall buildings are slated for completion, including Central Park Tower, the world’s tallest residential building at 1,500 feet. None of this is a surprise. By building up, New York is able to maximize available space and even diversify certain neighborhoods by creating mixed-income housing communities. At their best, high-rise developments can drive economic and social change, but are these buildings also good for our health? Ahead, we look at the risks and benefits of high-rise living, many of which have taken on a new meaning during a time when New Yorkers are mainly confined to their homes.

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City Living, Features, Policy, real estate trends

Can you move in NYC during the coronavirus outbreak?

By Devin Gannon, Fri, March 27, 2020

Photo © Daxiao Productions – Fotolio

While most of life seems to be put on hold at the moment, there are a few tasks that can’t be avoided. This includes moving apartments, typically a dreadful experience for New Yorkers with or without an ongoing pandemic. But moving companies are considered an essential service, according to New York City and State officials. Ahead, find out what you need to know about moving in NYC during the coronavirus outbreak, from the extra protocols movers are taking to your rights as a tenant.

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real estate trends

Amazon snags two Fairway Market stores in NJ

By Devin Gannon, Thu, March 26, 2020

Fairway, Fairway Grocery, Upper West Side, Whole Foods, Grocery Stores, Red Hook, Fairway Red Hook

Photo by Dougie WII on Wikimedia

Amazon has acquired the leases for two Fairway Market stores in New Jersey, half the number of stores the company originally hoped to buy. According to Supermarket News, the online retailer will acquire Fairway’s Paramus and Woodland Park, N.J. store leases for $1.5 million. It’s unclear why Amazon’s offer for stores in Red Hook and Westchester fell through. The auction comes just a few months after the beloved New York City grocery store filed for bankruptcy.

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real estate trends, Upper East Side

Photo by Jim.henderson on Wikimedia

A month after Barneys New York closed all of its stores, a food hall is reportedly in talks to occupy part of the luxury retailer’s former flagship. As first reported by the New York Post, Italian market Eataly is looking at leasing or buying some space at the now-shuttered store at 660 Madison Avenue on the Upper East Side.

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