From the category archives:

New Developments

A Manhattan Real Estate New Year’s Jingle for 2009

by Honeycrisp January 1, 2010

T’was the night before New Year’s, when for seconds so brief All in the world of real estate breathed a sigh of relief. Events that unfolded in 2009 Could have been so much worse for Manhattan’s skyline. Thinking back to last year, markets frozen as ice, It seemed sellers and buyers were way off on [...]

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FHA 101: changed guidelines for FHA backed loans

by Honeycrisp December 10, 2009

Loans insured by the Federal Housing Administration have allowed buyers with less than stellar credit to purchase with as little as 3.5% down. (In addition, most of the closing costs and fees can be included in the FHA backed loan.) After Congress extended NYC’s conforming loan limits to $729.8k, FHA loans have tripled, as have [...]

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Owning the Rent

by Red Delicious June 19, 2009

With many buyers still gun-shy and credit continuing to be tight, some developers are offering rent-to-own options (75 Wall comes to mind, among others). Developers are offering to apply 100% of rents toward the purchase prices with no up-front fees, giving “buyers” the opportunity to experience homes and neighborhoods without the commitment of a purchase [...]

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Who’re Ya Gonna Call?

by Red Delicious June 17, 2009

Ghost towers are slowly increasing in number in the city, so we thought we’d take a look at the reasons behind their growth: Those with fewer than 70% of units sold do not meet most lenders’ financing criterion; Buyers have dried up due to rising unemployment and tightening credit markets; Developers’ funds have dried up [...]

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Taxing the Mind

by Red Delicious June 7, 2009

The projects of many developers hit by the credit crisis are at risk for missing the 36 month window allowed to fulfill the new 421a completion requirement. What is a 421a Tax Abatement , you ask? It is an incentive to developers offered by the city to stimulate development and keep housing costs reasonable by [...]

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Bulking up

by Red Delicious March 31, 2009

“Multiple package options” have begun in new buildings in desperate need of buyers: Harlem’s Kalahari, Savoy West, Hell’s Kitchen’s The 505 and Long Island City’s Fifth Street Lofts, Bridges NYC and The Lore. As per our previous post, these bundled units are offered at a steep discount in hopes of attracting large-scale investors with the [...]

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