Brooklyn Median Home Price Breaks New Record in 1st Quarter of 2017
Brooklyn remains the hottest borough in New York City.
Sales of Townhouses and Apartments combined have caused the borough to see higher prices paid. Both the Median Price Paid [ $770,000 ] and the Average Price Paid [ $993,950 ] have put Kings County in a new trajectory.
Do Brokers have pricing power over rising interest rates and other market fundamentals in Kings County?
More Homeowners Abandon Traditional Apartment Leasing
Airbnb has disrupted the residential leasing market in Brooklyn and Queens.
Homeowners with 1 to 2 rental units are choosing to lease to out-of-town guests for short stays using the online platform.
These Airbnb hosts have decided they want greater control over the earning power of their rental units without the onerous obligation of providing basic services required when leasing to tenants.
Will Airbnb hosts in Brooklyn and Queens neighborhoods begin to see short stay rates decline because more homeowners are becoming hosts?
Deed Theft Rising in Outer Boroughs
A retired Dept of Education Administrator living in Florida found out why you never leave your home vacant in New York City the hard way.
She joined the growing list of homeowners who have seen their property deeds stolen by individuals who know how to research city records to identify their future victims.
And it’s not just homeowners that are vulnerable. Recently, a real estate broker’s deed was stolen to the mixed use property he owned he was planning to open a new office.
Will New York’s City Council finally restrict publication of real property records to prevent deed theft?
Crooked Buildings Department Official Now a Power Broker
Ron Lantazzio, a notorious Buildings department official, has recently emerged to continue business as usual.
He had a reputation for throwing “cocaine parties” after hours the agency’s offices throughout the city.
Through a number of “shell companies” with propped up front men, Mr. Lantazzio is hired to arrange approved site inspections on building projects by some of the City’s biggest real estate developers.
Is it time for New York’s City Council to overhaul its most corrupt agency to insure building safety isn’t compromised for the bottom line?
Queens Residents Form Anti-Gentrification Project
Now Queens residents are fighting back against what new real estate development projects bring to their neighborhoods: Gentrification.
And the fight is growing in size and volume to the point that elected officials representing Sunnyside and other surrounding neighborhoods are concerned about their re-elections.
Are residents living in the Bronx, Queens and Brooklyn prepared to shake up the City Council by voting out current members in an effort to stop or slow the pace of gentrification in their neighborhoods?
Each week THE STREET brings you 5 things moving New York real estate. Which of the 5 in this edition could affect your business?
How prepared are you to adjust to any of the conditions any of the 5 news items presented?
Share your thoughts in the comments and see what others are saying.
