NYC Real Estate Recap: July 10 - 16

IN THIS WEEK'S REAL ESTATE RECAP, Airbnb returns to headlines in nyc, home sales stay hot in brooklyn despite declining rents, and millennials seem increasingly interested in purchasing real estate.

Did we miss something? Let us know by emailing us at info@livebixby.co and we'll include it in next week's recap.


New York City Is Fining Landlords Who Report Airbnb-Using Tenants

"NYC may no longer be battling Airbnb over its law against short-term rentals of apartments, but its enforcement may make enemies out of what could be its biggest allies." Read more here...


NYC landlords try out lower rents as concessions stagnate

"The use of concessions is still high, but it looks like landlords will depend on them less." Read more here...


Home Prices Rose Dramatically In Brooklyn As Rents Continued To Fall In Q2

"Rents and sale prices are going in opposite directions in Brooklyn, which could be reflective of changes in consumer behavior." Read more here...


Kushner Companies looks to offload two Brooklyn Heights rental buildings

"Two of the former Brooklyn Law School buildings purchased under the auspices of Jared Kushner have hit the market." Read more here...


Plans to fast-track the Brooklyn-Queens Expressway's makeover hit a snag

"Currently, the projected costs of the rehab stand at $1.9 billion. The rehabilitation work concerns a 1.5-mile long stretch of the BQE between Atlantic Avenue and Sands Street." Read more here...


Despite market fears, millennials are buying into home buying

"Despite stalled wage growth and fears about the housing market, millennials nationwide are becoming more interested in buying real estate. " Read more here...


Prospect Park will be completely car-free for two months

"Say goodbye to automobiles in the Brooklyn park—for the summer, anyway." Read more here...


Midtown Block Closed After Ramp Falls From Construction Site: Officials

"The connector fell while workers were moving two-ton crate at the site at 217 W. 57 St., officials said." Read more here...


Affordable Housing Construction and Preservation at Record Pace: de Blasio

"The city helped finance a record 24,293 affordable housing units in fiscal year 2017, the mayor said." Read more here...


New Jersey Developer Submits Plans For 32-Story Hotel In Chelsea

"A New Jersey-based developer has filed plans with the New York City Department of Buildings for a new hotel in Chelsea." Read more here...


Work Halted on What Would Have Been Tallest Tower on UWS

"The Department of Buildings ruled work on the building be stopped until a longer review is completed." Read more here...


Douglas Elliman to cover StreetEasy’s rental listings fee for agents

"The city’s largest residential firm just endorsed StreetEasy’s controversial new rental program in the most emphatic way possible – with its checkbook." Read more here...


Brooklyn tenant sues Jonas Equities for attempting illegal eviction

"A family residing in one of Jonas Equities’ former Brooklyn rental buildings is suing the company, claiming it tried to illegally evict them. "