The Real Deal - New York Real Estate News

Luxury apartments pivot to virtual activities

Posted: 06 Jun 2020 11:00 AM PDT

About three months into quarantine, residents trapped in small apartments are going stir-crazy. That is unless they live in a luxury apartment with an in-house lifestyle director. Decorating doors for celebrate graduations, virtual cooking classes and zoom workouts, all organized by apartment staff, indicate that, although outdoor seating in a pandemic may seal the deal for some, a rooftop terrace and gym is no longer enough for developers to lease out high-price buildings. They must

Long-term residents scooping up vacation rentals

Posted: 06 Jun 2020 09:00 AM PDT

A larger than usual number of vacation rental owners are looking to secure long term renters. At the same time, more owners of traditional long-term rentals appear open to leases between three and six months instead of typical year-long leases to appeal to renters wary of a long-term commitment. Data from Zillow showed a 23 percent increase in listings for six months or less between March 1 and May 21, according to CNBC. Those listings

Some Canadian housing markets improved markedly in May

Posted: 06 Jun 2020 06:00 AM PDT

Canada’s housing market seems to be shaking off the coronavirus pandemic. The market made a marked recovery in May after the pandemic had ground activity to a near-halt. Around 3,500 homes sold last month in Toronto, a seasonally adjusted 53 percent increase from April. New listings were up 48 percent, according to Bloomberg. The average price climbed 4.6 percent month-over-month to around $638,710 — a 3 percent increase from May 2019. That’s largely because of