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The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

The New York state political zeitgeist was recently and suddenly tilted against luxury development in New York City. If this latest turn of events plays out as written, we'll be able to look back at this era as a milestone where the supertanker began to turn in the wrong direction for the new development multi-family industry.

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PARKING AND THE IMPACT ON CLIMATE CHANGE

Will Springer Realtor

With each stall in a commercial garage costing tens of thousands of dollars to build, parking requirements can impose significant costs on property developers, owners and renters. Rather than allocating parking that goes unused, developers could propose sharing available space in nearby buildings. from February and 13% a year ago.

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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

As part of the project, developers are sketching out plans for a pair of office towers at least 41 stories tall on a 4.6-acre Homes are selling at about $750,000 today, off the all-time high of $797,500 in March 2017. Buyers will likely snap up any home to be within walking distance of the new transportation hubs.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Housing starts – the number of units builders would begin if development kept pace for the next 12 months – increased 19% nationally to a seasonally adjusted annual rate of 1.7 California developer Laconia unveiled a discount of about 10% on select 1- and 2-bedroom homes in the 41-story structure on 6 th Avenue at Denny Way.