New york real estate news
Here are some recent news articles and updates on the New York real estate market:
Residential Market
- Manhattan Luxury Market Sees Slight Recovery: According to a report by Douglas Elliman, the Manhattan luxury market saw a slight recovery in the first quarter of 2023, with sales increasing by 12% compared to the same period last year. (Source: The Real Deal)
- Brooklyn Home Prices Continue to Rise: A report by StreetEasy found that home prices in Brooklyn continued to rise in the first quarter of 2023, with the median sales price increasing by 10% year-over-year. (Source: Curbed NY)
- New York City's Affordable Housing Crisis Worsens: A report by the New York City Comptroller's office found that the city's affordable housing crisis worsened in 2022, with the number of affordable units available decreasing by 10% compared to the previous year. (Source: The New York Times)
Commercial Market
- New York City Office Market Sees Slowdown: According to a report by CBRE, the New York City office market saw a slowdown in the first quarter of 2023, with vacancy rates increasing by 0.2% compared to the same period last year. (Source: Commercial Observer)
- WeWork to Open New Headquarters in Hudson Yards: WeWork announced plans to open its new global headquarters in Hudson Yards, a major commercial development in Manhattan. (Source: The Real Deal)
- Amazon to Open New Office in Long Island City: Amazon announced plans to open a new office in Long Island City, Queens, which will create over 1,000 new jobs in the area. (Source: Crain's New York Business)
Development and Construction
- One Vanderbilt Tower Tops Out: The One Vanderbilt Tower, a 1,401-foot skyscraper in Midtown Manhattan, has topped out and is expected to be completed in 2024. (Source: The New York Times)
- Hudson Yards' 35 Hudson Yards Opens: The 35 Hudson Yards building, a 1,009-foot skyscraper, has opened in Hudson Yards, offering luxury residential units and office space. (Source: Curbed NY)
- New York City's Affordable Housing Plan Moves Forward: The New York City Council approved a plan to build over 10,000 new affordable housing units in the city, with a focus on developing units in underserved neighborhoods. (Source: The New York Times)
Government and Policy
- New York City's Rent Regulation Laws Take Effect: New rent regulation laws took effect in New York City, aimed at protecting tenants from rent increases and preserving affordable housing. (Source: The New York Times)
- New York State Legislature Passes Affordable Housing Bill: The New York State Legislature passed a bill aimed at increasing the production of affordable housing in the state, including measures to streamline the development process and increase funding for affordable housing programs. (Source: The New York Times)
- New York City's Zoning Regulations Under Review: The New York City Council is reviewing the city's zoning regulations, with a focus on updating the rules to promote more affordable housing and mixed-use development. (Source: The Real Deal)
These are just a few of the latest news articles and updates on the New York real estate market. If you're interested in learning more, I'd be happy to provide additional information or resources.