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The campaign team of Paul Massey was eager to announce last Friday that it has raised an impressive $1.6 million for his mayoral run, over the past six months for the first filing period. The details will be released by the New York City Campaign Finance Board next week. At that time Mayor Bill de Blasio will also release his fundraising for this period, which runs from July through January. Up until this filing, de Blasio had raised $2.24 million in campaign funds for his 2017 bid for reelection.
Massey, a real-estate developer, is a low profile Republican challenger. The Cushman & Wakefield executive is expected to use his personal money in addition to the funds that he raised. As reported by The Real Deal, the Massey campaign said
On Wednesday, December 28, the real-estate agency Olshan Realty published its year-end report on the residential market in New York. It showed that when compared to 2015, it took an average of two months longer for a high-end luxury apartment to sell in New York City in 2016.
These findings support other reports that came out earlier in 2016 showing that New York’s priciest borough, Manhattan, was having a difficult year in the luxury market. There are an excess of luxury apartments in the
Mayor Bill de Blasio’s administration is in search of a development team to build as many as 200 affordable housing units at 3265 Atlantic Avenue in Brooklyn’s East New York. On Tuesday December 20th, the city’s Department of Housing Preservation and Development released a request for proposals, which will be due on March 22, 2017. The 81,175-square-foot site, known as the Dinsmore-Chestnut site in the Cypress Hills area, is currently vacant.
As reported by Crain’s New York, the half-acre lot
As first reported by the Real Deal, here is a recap of the hottest real estate news for the year ending 2016.
The year began with the official expiration of the 421-a property tax break, which is provided to developers who set aside affordable housing units. Prolonged negotiations between the Real Estate Board of New York and the 100,000 members of the Building and Construction Trades Council of Greater New York, to revive the initiative had an adverse effect on investment sales and new
If there is one thing that key players in the New York City real estate market know how to do it’s to flex their litigation muscles in order to broker their place in one of New York’s most competitive and bellicose sectors. The year 2016 ushered in a fresh set of lawsuits, among the most contentious of which was this year’s housing lawsuit involving the $5.3 billion sale of the Stuyvesant Town-Peter Cooper Village Black Stone group and Ivan hoe Cambridge.
The Claimants, Pershing Square