New York City’s rental market remains expensive and competitive, with rents in Manhattan and Brooklyn reaching new record highs. According to the latest rental market data, renters are facing fewer available apartments while demand remains strong. Manhattan’s median rent reached $5,295, while Brooklyn’s median rent rose to $4,350. Manhattan Rents...
Why Buying a Home in New York City Is So Challenging
For anyone trying to buy a home in New York City, it quickly becomes clear that housing prices are extremely high. The city’s five boroughs—Manhattan, Brooklyn, Queens, the Bronx, and Staten Island—contain some of the most expensive neighborhoods in the United States. This high cost makes buying a home a...
Step-by-Step Guide to Applying for NYC’s Housing Lottery
Applications are now open for a housing lottery offering 75 rent-stabilized apartments in a newly completed building in Downtown Brooklyn. These apartments are available to households earning between $31,372 and $218,010 annually, depending on the number of people in the household. Monthly rents start as low as $750 for a...
Why Brooklyn Heights Remains One of New York’s Most Desired Areas
Brooklyn Heights is one of New York City’s oldest neighborhoods. Known for its brownstone homes, tree-lined streets, and historic charm, it has long been a favorite place for people who want to live close to Manhattan but still enjoy a quieter lifestyle. Many of the buildings date back to the...
Rent Hikes Slow Down in Queens and Brooklyn
New data shows that rent prices in Queens and Brooklyn aren’t rising as fast as they were before. In December 2024, the year-over-year rent increases in these two boroughs were smaller than they were in 2023. Meanwhile, Manhattan rents are actually going up faster now than they were a year...
More Manhattan Homes Are Bought With Family Trusts Than Ever Before
In recent years, there’s been a big increase in people using trusts to buy homes in Manhattan. A trust is a legal way to hold and manage property, often set up by parents or family members. In 2024, about 28% of all Manhattan property sales involved a trust. That’s a...
Good Cause Eviction Laws Could Protect Brooklyn Tenants from Displacement
In Brooklyn’s Columbia Street Waterfront District, dozens of low-income tenants are fighting to keep their apartments affordable as looming changes threaten to raise rents beyond their reach. For many, the stakes couldn’t be higher—they risk losing homes they’ve lived in for decades. The Situation at 63 Tiffany Place The building...
Fake Auction Leads to Jail Time: Brooklyn Woman Stole $1 Million
A 69-year-old woman named Regine Norman, also known as Regine Ellis, was sentenced to up to seven years in prison for her role in a fraudulent real estate auction scheme. This scam, which lasted several years, led her to steal nearly $1 million from nine victims. The sentencing, which occurred...
The Decline of Housing Inventory in Brooklyn: A 13-Month Trend Analysis
BROOKLYN, NYC - In the vibrant heart of New York City, Brooklyn's real estate scene has emerged as the epitome of competitiveness within the city's bustling market. A recent analysis by a well-known real estate platform highlights Brooklyn's unparalleled position in the NYC market as of June 2023. This borough's...
Manhattan Real Estate Hit by Lawsuit Over High Commission Rates
In a groundbreaking legal move, a lawsuit in Manhattan has been initiated against the influential Real Estate Board of New York (REBNY) and an array of major brokerages, accusing them of collusion in maintaining high commission rates for agents involved in Manhattan's residential real estate transactions. This lawsuit, submitted for...