City officials conduct one of the largest Airbnb raids at Far West Side condo building

The city’s Airbnb enforcement officials raided the Far West Side Atelier condominium last month, handing out nearly two dozen violations to owners who allegedly rented out apartments on the home-sharing site. And the crackdown — one of the largest yet on short-term rentals — could be a sign of what’s to come as the city[…]

City Council approves rezoning for Madison Realty Capital’s Woodside rental project

The City Council gave the green light Wednesday to Madison Realty Capital’s 431-unit rental project in Woodside, after the local council member originally said he’d oppose the project. The Council voted yesterday to approve Madison Realty’s application to rezone the site at 69-02 Queens Boulevard, which will include 129 units of affordable housing under the[…]

Oxford Properties reveals design for St. John’s Terminal redevelopment

Oxford Properties Group released the first set of renderings for its redevelopment of the St. John’s Terminal into a glassy, 1.3 million-square-foot office building. Designed by COOKFOX Architects, the firm behind the Durst Organization’s One Bryant Park and Vornado Realty Trust’s new High Line office development at 512 West 22nd Street, the redevelopment retains the[…]

Co-working has tripled its share of Manhattan’s office-leasing activity over the past year: report

With companies like WeWork, Knotel and Spaces gobbling up real estate to feed their voracious expansion plans, co-working and flexible-space tenants have tripled their share of Manhattan’s office-leasing activity over the past year. Co-working tenants inked 12 percent of the nearly 25 million square feet worth of leases signed in Manhattan through the first three[…]

Bridgeton Holdings lands $57M construction loan for Tribeca hotel conversion

Bridgeton Holdings secured a $57 million construction loan to complete its conversion of a Tribeca office building into the boutique Walker Hotel. BofI Federal, the lender formerly known as Bank of Internet, issued the debt for Bridgeton’s 171-key conversion of the 10-story building at 396 Broadway, brokers who arranged the financing told The Real Deal.[…]

Homeownership rate is at 1990s levels, and it’s only getting tougher for Americans to buy homes

The home ownership rate in the country has declined precipitously since its peak more than a dozen years ago. And ever since the recession, it’s been harder for Americans to buy homes. The home ownership rate in April stood at 64.4 percent, according to figures from the Census Bureau reported by the Wall Street Journal.[…]