Month: March 2024

Four major retail landlords are suing the city to lower their property taxes, which they say are unfairly based on their pre-pandemic rents. According to the suit first reported by the Real Deal, owners of prime retail condos on Fifth Avenue and East 59th Street claim their property taxes are “grossly overassessed” because they’re based
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DJ Khaled’s former South Florida mansion is hitting the market for $16.39 million — and much of his furnishings, including three 14-karat gold chandeliers with Swarovski crystals and his sneaker shrine, are part of the deal. The Aventura home, at 3914 Island Estates, includes the music producer’s famed 500-plus sneaker collection room, with its “WETHEBEST”
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Batbold Sukhbaatar of Mongolia addresses the Millennium Development Goals Summit at the United Nations headquarters in New York, September 22, 2010. Emmanuel Dunand | AFP | Getty Images Federal prosecutors on Tuesday sued to seize two New York City apartments worth $14 million that were allegedly bought with proceeds from a corrupt scheme involving Mongolia’s
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An example of Pacaso’s new lower-priced vacation home listings. CNBC Luxury vacation home co-ownership platform Pacaso is attempting to appeal to the masses, as it grows its business during a pricey and competitive phase of the housing market. The company, which launched in 2020 with multimillion-dollar homes listed for co-ownership, is now introducing thousands more
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The fun-factor train keeps on chugging along at the city’s premier office buildings as landlords struggle to arrest an alarming increase in vacancies, which now top 20% overall. The Post reported last week that landlords have introduced unprecedented numbers and varieties of amenities that are exclusively for tenants’ use — a strong inducement both for luring
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Artificial intelligence is moving into the housing space, specifically architecture. ICON, which developed one of the first fully 3D-printed housing developments in the U.S., is taking automation another step further. It recently unveiled what it calls Vitruvius, an AI program that helps consumers design custom homes online and get the plans, making the process cheaper
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The Federal Reserve announced Wednesday it will leave interest rates unchanged, delaying the possibility of rate cuts as well as any relief from sky-high borrowing costs. Overall, expectations that the Fed is pulling off a soft landing have increased, but that offers little consolation for Americans with high-interest debt. And now there may be fewer interest rate
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Hinterhaus Productions | Digitalvision | Getty Images Inflation in the U.S. has hit a speed bump. While the rate of price increases has come down significantly from its peak in the summer of 2022, the most recent reading from the consumer price index showed overall inflation stuck at just above 3%. Core inflation — which
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Townhomes are under construction on July 19, 2023 in Mundelein, Illinois.  Scott Olson | Getty Images Mortgage interest rates rose last week for the first time in three weeks. As a result, total mortgage application volume dropped 1.6% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract
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