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June 2016 Archives

Major renovation, changes planned for Waldorf Astoria

It looks like the iconic Waldorf Astoria hotel on Park Avenue will be a changed place in a few years. The Chinese company Anbang Insurance Group Co. bought the property last year for close to $2 billion — the most ever paid for an American hotel. Now it will reportedly be completely overhauling it.

Why New York real estate investors like 'lis pendens' properties

If you're seeking to invest in a New York property that's going into foreclosure, a term you need to know is "lis pendens." For people who don't deal with Latin every day, that means "suit pending." It's the first filing in the foreclosure process. It's also known as a "pre-foreclosure."

Think Brexit doesn't affect you? 2 direct impacts to NY real estate

New York City is a booming metropolis. In a city that has everything to offer, it is easy to forget how the things going on outside the city borders can impact life within.

Key points to think about with a commercial lease

When negotiating a commercial lease, you want to make sure you like the terms of the lease before signing. No matter how good the space is, it's never wise to sign something that you disagree with, just because you feel like you have no choice. Below are a few things you want to consider during this process.

Breach of contract: What if a home buyer fails to get a loan?

Contracts are powerful legal documents. Within these papers are clauses, provisions and legalese that can be extremely important if issues arise during a transaction. One example involves the sale of property.

How do co-ops and condos differ?

The New York City housing market is a unique and often challenging one. One type of housing that is more common here than in many cities is the cooperative, or "co-op." Even though co-op residents outnumber condo residents in New York City, condos are gaining via new construction.

Settlement reached over Section 8 housing discrimination

New Yok Attorney General Eric Shneiderman has reached a deal with three real estate companies in the state that have been charged with denying apartments to people because they were receiving public housing assistance. The three firms, Crifasi Real Estate, Douglas Elliman Real Estate and Empire State Equities, market and manage hundreds of apartments in New York City as well as in Westchester and Nassau counties.

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