New York City’s multifamily market, encompassing both rentals and condominiums, is experiencing a period of significant change. While traditionally a seller’s market, recent trends suggest a shift in power dynamics. Understanding these trends and challenges is crucial for both renters and investors navigating this dynamic environment.
A recent legislative development in New York has significant implications for renters in the state. The Good Cause Eviction Law, enacted in April 2024, aims to restrict landlords’ ability to evict tenants without a valid justification. As we explore the provisions of this law, we assess its potential impact on renters and landlords, and its broader implications for housing policy in New York.
The future of urban living in New York City appears firmly intertwined with the continued rise of mixed-use developments. What are these mixed-use developments that are shaping the landscape of NYC?
In an effort to incentivize the creation of affordable housing, New York City has introduced the 485x tax break program. This program offers significant tax breaks to developers who agree to incorporate specific wage and affordability requirements into their projects.
The bustling streets and towering skyscrapers of New York City often overshadow another vital component of its urban landscape: warehouses. However, these once-forgotten structures are undergoing a dramatic transformation, fueled by the relentless surge in e-commerce.
Express, a prominent mall retailer, has filed for Chapter 11 bankruptcy protection and plans to close over 100 stores. This news comes amidst a broader trend of retail store closures in the United States.
New York City’s commercial real estate sector currently responds energetically to the evolving demands of businesses. According to the New York City Economic Development Corporation, the commercial real estate market in 2023 relished a 15% increase in leasing activity compared to the previous year.
New York City, with its dense development and proximity to water bodies, faces a considerable risk of flooding. The commercial real estate sector is no exception to these risks, making the understanding of flood insurance in this context crucial. This article aims to inform and guide those who rent and buy commercial real estate in NYC about the ins and outs of flood insurance.
As the world becomes more conscious about environmental sustainability, commercial real estate sectors are equally stepping up to the plate. In all the boroughs of New York City green initiatives are gaining traction. This burgeoning trend is not just for show – it’s shaping how developers design, launch, and sell commercial spaces.
In commercial real estate, load factor is a concept that determines a tenant’s proportionate share of common areas in a building. Understanding load factor is crucial for both tenants and landlords as it significantly impacts lease agreements and costs. This article aims to unfold a comprehensive understanding of load factor and its implications.