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NYC Completed Nearly 34,000 New Homes in 2024

NYC Completed Nearly 34,000 New Homes in 2024

by Phil Hall | Mar 11, 2025 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

New York City recorded the completion of 33,974 new homes in 2024, the most units completed in a single year since 1965. The Department of City Planning (DCP) attributed this figure to the increase of permitting during 2022 ahead of to the expiration of the 421-a tax...
Most At-Risk Q4 Housing Markets Primarily in Three States and NYC Area

Most At-Risk Q4 Housing Markets Primarily in Three States and NYC Area

by Phil Hall | Mar 6, 2025 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Two-thirds of the 50 counties with the most at-risk housing markets in the fourth quarter of 2024 were in California, Florida, Illinois, and the New York City area, according to new data from ATTOM. County-level housing markets on the latest list included 14 were in...
NYC’s Historic Roosevelt Hotel to Cease Operating as Migrant Shelter

NYC’s Historic Roosevelt Hotel to Cease Operating as Migrant Shelter

by Phil Hall | Feb 25, 2025 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

New York City Mayor Eric Adams has announced the historic Roosevelt Hotel will cease to serve as a migrant shelter in June. The Wall Street Journal reports Adams’ administration said plans to close the hotel were being formulated since December, when the number of...
Feds Shut Down NYC’s Congestion Pricing Toll Program

Feds Shut Down NYC’s Congestion Pricing Toll Program

by Phil Hall | Feb 19, 2025 | News/Current Events, Real Estate News, WRE News Exclusive

The Trump administration’s Department of Transportation has terminated its approval of the congestion pricing toll program in New York City – four months after the Biden administration gave its approval. The program was introduced in early January and charged...
NYC Real Estate Executive Indicted for $30 Million Bank Fraud Scheme

NYC Real Estate Executive Indicted for $30 Million Bank Fraud Scheme

by Phil Hall | Feb 14, 2025 | News/Current Events, Real Estate News, WRE News Exclusive

A New York City real estate executive was indicted for his part in a scheme to steal $30 million intended for a real estate investment. According to the allegations in the indictment, Kevin Feng Gao used an unauthorized bank account in the name of a company that...
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