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Developer claims Hudson Valley leaders want to keep Hasidic Jews out, Apple searching for massive New York office: Daily digest

Developer claims Hudson Valley leaders want to keep Hasidic Jews out, Apple searching for massive New York office: Daily digest Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. ET. Please send any tips or deals to tips@therealdeal.com This page was last updated at 12:30 p.m.   Developers of a Hudson Valley project say local…

Brooklyn rents hit a record high in July: Elliman report

Brooklyn rents hit a record high in July: Elliman report Rents are rising while concessions are falling in Manhattan and Brooklyn, but the opposite is happening in Queens, according to  Douglas Elliman’s July report on the city’s rental market. Manhattan’s median rent increased by 5.7 percent year over year to hit $3,595, and Brooklyn’s median rent went up by 1.7 percent to hit $3,000, a new record for the borough. In Northwest Queens, however, median rents dropped 3.6 percent, compared…

Government will back more condo loans amid cooling housing market

Government will back more condo loans amid cooling housing market Amid a cooling housing market and growing concerns about a recession, the Trump administration is making it easier for first-time condo buyers to get a government-backed mortgage. The Federal Housing Administration is backing more loans for those first-time buyers, according to the Wall Street Journal. FHA loans require significantly lower credit standards than conventional loans and only require a 3.5 percent down payment. The FHA predicts it could insure as…

U.S. home mortgage surge past pre-recession record

U.S. home mortgage surge past pre-recession record Home mortgage debt surged to a new high in the second quarter, leaving the pre-recession 2008 peak in the dust. The total mortgage balance grew during the second quarter by $162 billion to $9.406 trillion, according to the Federal Reserve Bank of New York, the Wall Street Journal reported on Tuesday. That’s more than the 2008 record of $9.294 trillion. Mortgage debt has been climbing since 2013, when it fell by 15 percent…

The city wants to tweak this real estate law to draw in more tourism, Rabsky’s latest Brooklyn play: Daily digest

The city wants to tweak this real estate law to draw in more tourism, Rabsky’s latest Brooklyn play: Daily digest Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. ET. Please send any tips or deals to tips@therealdeal.com This page was last updated at 12:30 p.m.     Rabsky Group, a major player in Brooklyn…

Where do NYC’s real estate bigwigs tee off?

Where do NYC’s real estate bigwigs tee off? Anyone who’s tried to do business with a serious golfer on a summer Friday — or Monday, for that matter — may be on a fool’s errand. With an abundance of storied golf clubs in the metropolitan area, the same is true of real estate’s biggest players. Built on hundreds of acres of rolling hills in Westchester, New Jersey and the Hamptons, golf in the tri-state area is unquestionably a real estate…

These are Jeffrey Epstein’s real estate ties to his brother Mark

These are Jeffrey Epstein’s real estate ties to his brother Mark As prosecutors work to determine the full scope of Jeffrey Epstein’s fortune in the wake of his apparent suicide, more details are emerging about the ties to his brother, Mark. Like Jeffrey Epstein, his brother’s wealth is also shrouded in mystery. But records link Mark in a business relationship with his brother through a Manhattan building, according to the Wall Street Journal. “Other than the obvious relationship of being…

Sol Goldman’s daughter among donors backing far left candidates; Billionaires Row residents hound de Blasio on the campaign trail: Daily digest

Sol Goldman’s daughter among donors backing far left candidates; Billionaires Row residents hound de Blasio on the campaign trail: Daily digest Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. ET. Please send any tips or deals to tips@therealdeal.com This page was last updated at 9:00 a.m.   Sol Goldman’s daughter is among the group…

Real estate bigwigs on their minimum wage days

Real estate bigwigs on their minimum wage days It’s hard to forget a first job, whether it was scooping ice cream, waiting tables or selling knives door-to-door. But it’s funny to think that the CEOs, developers and top industry brokers — who these days have hundreds of employees under their purview and salaries that put them in the uppermost stratosphere of earners — once made minimum wage. Last year, The Real Deal brought you the first edition of this annual…

Here’s everything you need to know about Opportunity Zones

Here’s everything you need to know about Opportunity Zones 1. What is the Opportunity Zones program and where does it target? Enacted late last year as part of the federal tax overhaul, the Opportunity Zones program provides tax incentives to developers who invest in historically distressed neighborhoods throughout the U.S. There are 8,700 communities that have been designated as Opportunity Zones. In New York City, there are 306; Los Angeles County has 274; Chicago Cook County, 181; and Miami-Dade County…