Wow, Summer has begun and this hot and rainy month of June has been action packed here in New York City. It’s hard to believe the second quarter of 2019 is already a wrap! Are you ready for the second half?!
The weather may be heating up, but the real estate sales market is frigid. There was a pickup in deal activity which is typical for this time of year, but there was also the added incentive to close before the new tax plan went into effect July 1 (we now have a new tax plan). Upcoming sales reports will likely show weak numbers, and the outlook is not positive for sellers. Buyers have the upper hand, however there aren’t very many buyers…
Even in a down market there is still plenty of news coverage. Remember Jeff Bezos, the founder who scorned the city with the Amazon HQ2 fakeout? Well he’s rumored to have spent $80,000,000 on a few apartments at 212 Fifth Avenue. It’s hard to miss the battle brewing between politicians and city landlords over new rental market regulations. And the most fascinating thing I found this month is Unison. Unison is a San Francisco based fund offering no-interest loans for a share in the future upside value of your property.
A few kind readers noticed an error in last month’s Spotlight on Prospect Park. The tiny misstatement that Prospect Park is bigger than Central Park. This is not true, actually not even close! So to correct myself this time I thought it would be appropriate to compare the two parks and get the facts straight! One thing is certain, both Prospect Park and Central Park are part of New York City history, and should be a part of yours as well.
