Fourth of July Followup

We hope you had a very happy holiday weekend! Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports. The median resale price for Manhattan apartments hit $999,000 in the second quarter — the […]

The Biden Administration Ousted the Head of the Federal Housing Finance Agency

The Biden administration ousted the head of the Federal Housing Finance Agency after the Supreme Court ruled it was structured unconstitutionally, dealing the latest blow to investors betting that mortgage giants Fannie Mae and Freddie Mac would be returned to private hands after more than 12 years of government control. The White House decision to […]

Restoring New York City’s Building Sector

Despite being one of the first industries allowed to resume work after the shutdown 15 months ago, New York City’s building sector remains 25,000 jobs below its pre-coronavirus peak. Hopes to plow through the withering backlog of planned construction largely rest on President Joe Biden’s efforts to pass an infrastructure plan with a price tag […]

A Guide To All Those Other Races You’ll Be Voting For This Month

We have dedicated a lot of our Need to Know’s on the mayoral race. It is a crucial time for our city and this is an important topic. There are however a lot of other races that New Yorkers need to vote on this month. Gothamist compiled a tidy list of what positions are on […]

$4M Contracts in Manhattan

Thirty one contracts above $4M in Manhattan were signed last week, extending the streak of 30 or more contracts over $4M to 18 weeks in a row! There were 15 condo and 11 co-op contracts signed last week. Townhouses accounted for five of last week’s deals. That brings the year-to-date total of townhouse signings to […]

Governors Island New Development

Governors Island could soon be home to nearly 4 million square feet of new development.The City Council on Thursday voted in favor of rezoning the south end of the island, which will allow for the construction of university space, hotels, offices, research facilities and retail across 34 acres. New development would be located within two […]

Increase in Inflation

You may have heard that inflation, as measured by the Consumer Price Index (CPI), rose 0.8% in April, after rising 0.6% in March. Overall, the CPI is up 4.2% since April 2020 — its sharpest increase since 2008. While this is in line with economists’ expectations, many individual investors wonder whether this trend is transitory, […]

The Future of NYC Schooling

With many public schools still offering part-time in-person learning or no live instruction at all, some mayoral candidates are casting for votes from frustrated parents — and finding a tricky test that’s not so easy to pass.  At the head of the class: Democrat Andrew Yang, who has been advocating for schools to fully reopen […]

Biden/Harris Tax Plan Reveals a $4 Trillion Tax Hike

A recent read of the Biden/Harris tax plan reveals a $4 trillion tax hike, and one of the considerations for funding this massive tax increase is a change of 1031 Exchanges.   President Biden’s administration has proposed eliminating 1031 “like-kind” exchanges for investors with annual incomes of more than $400,000, as part of a plan to […]

New York City will reopen 100% on July 1, Mayor Bill de Blasio says!

New York City Will Reopen 100% on July 1, Mayor Bill de Blasio Says!  However, New York Gov. Andrew Cuomo said he would like to see the city reopen before the date pitched by de Blasio. “I don’t want to wait that long. I think if we do what we have to do we can […]