Finance chief masticates crow, agreeing to provide tax relief to co-ops
The city Finance commissioner bowed to heavy pressure from elected officials and agreed to limit property tax increases on co-op apartments.
Grilled by City Council members probing skyrocketing tax assessments for co-op owners, Commissioner David Frankel also vowed to do a better job of handing out assessments next year.
Manhattan condo prices in February haven’t changed in six months, sales off from a year earlier
The recovery in Manhattan condominium prices stalled for six months through the end of February, according to the Radar Logic data analysis firm.
Its RPX Manhattan condominium price was Continue reading
NEWSPAPER SAYS SALE OF FORMER VILLAGE NURSING HOME SIGNALS MARKET RECOVERY
In 2007, before the financial world turned upside down, a condominium developer signed a contract to pay more than $33 million for a former assisted living facility in the heart of the West Village.
More than three years later, the developer, FLAnk, has closed on the purchase of the building at Hudson and West 12th streets. FLAnk paid just a few million dollars short the full pre-crash price: $33.3 million.
The deal is the latest sign that the city’s residential development engine is beginning to crank up again, opines the Wall Street Journal.
SITE OFFERS EXPANDED PROPERTY SEARCHES FOR BUYERS
Pulling data from the Real Estate Board of New York’s RealPlus database–which collects listings information from brokerages– Continue reading