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News
Manhattan Rent Hits $5,285 in NYC Housing Crunch
1+ day, 18+ hour ago (287+ words) Manhattan's median rent stood at $5,285 in August, up 7% from a year earlier, while studio apartments alone reached a median of $4,186 — nearly matching what a full one-bedroom cost in the borough back in 2022. Brooklyn wasn't far behind, with its median rent…...
NYC landlords likely to lose challenge of rent freeze, legal experts say – but a win could throw rent-stabilized leases into chaos
2+ day, 14+ hour ago (840+ words) Landlords who have sued to reverse the Rent Guidelines Board’s June decision to freeze the rent on nearly 1 million stabilized apartments will probably lose their case against the city seeking to do so, legal experts say, regardless of whether or…...
NYC mulls property tax break for $2.7 billion Hudson Yards tower
3+ day, 21+ hour ago (941+ words) The Spiral, left, and the Hudson Yards skyline. NEW YORK (BLOOMBERG) -- New York is considering a $100 million property tax break for a new Hudson Yards skyscraper proposed by developer Tishman Speyer, in what would be the largest economic subsidy since…...
You're already getting socialism—and Democratic Socialists have nothing to do with it
3+ day, 23+ hour ago (294+ words) 11am ET: Watch "Mary E. Lovely on what's really going on with global supply chains" PIIE’s renowned scholars explore and analyze a broad range of economic topics and issues, including globalization, economic and growth prospects, finance, political economy, and trade and investment,…...
NYC Mulls Property-Tax Break for $2.7 Billion Hudson Yards Tower
4+ day, 6+ hour ago (100+ words) Bloomberg Law News New York is considering a $100 million property tax break for a new Hudson Yards skyscraper proposed by developer Tishman Speyer, in what would be the largest economic subsidy since Mayor Zohran Mamdani took office. An arm of…...
NYC mulls property tax break for $2.7B Hudson Yards tower
4+ day, 3+ hour ago (41+ words) Crain's New York NYC mulls property tax break for $2.7B Hudson Yards tower The nine-story office tower at 1 St. Mark's Place is the latest sign of change for the block....
Rags for windows: The shocking truth inside Mamelodi’s botched housing project
4+ day, 4+ hour ago (270+ words) Residents living in the Matimba Heights flats in Mamelodi East are dealing with broken homes and serious building defects. They live with leaking pipes and damaged roofs. In some of the flats, the window frames are not attached to the…...
Mamdani's Pied-a-Terre Tax Creates Confusion in NYC Luxury Real Estate Market - News and Statistics
4+ day, 7+ hour ago (485+ words) Michelle Griffith, a Douglas Elliman agent who ranks second in Manhattan by transaction volume, told Fox News Digital that piling on additional taxes and making entry more difficult does not help the real estate business. She voiced her opposition to…...
NYC Pied-a-Terre Tax Reignites Fight to Overhaul Property Taxes
5+ day, 7+ hour ago (93+ words) news.bloombergtax.com New York City’s tax on luxury second homes is giving city lawmakers new leverage to pursue an overhaul of its property tax system that elected officials acknowledge is outdated, but are loath to take up. The city…...
NYC Pied-à-Terre Tax Creates Risks Beyond Second Homeownership
5+ day, 5+ hour ago (488+ words) New York City’s pied-à-terre tax seemed straightforward: Impose a tax on high-value second homes that were neither the owner’s primary residence nor occupied by bona fide tenants. In practice, however, it’s colliding with the complex ways wealthy New Yorkers own,…...