News & trends
Property updates, New York life and new ideas in technology. Dated reporting with sources, for what’s happening now.
At an ACUMA conference, HousingWire analyst Logan Mohtashami said inflation, Federal Reserve policy, Treasury yields and mortgage-market spreads could keep mortgage rates around 6.5% to 6.75% even if Middle East tensions ease and oil prices retreat.
Read storyFannie Mae has ended limited review for most condo projects as of Aug. 3, shifting them to full review. A higher 15% reserve allocation minimum is scheduled for full-review applications dated Jan. 4, 2027 or later.
Read storyStreetEasy has started enforcing a rule requiring a listing to be published on its portal on the same calendar day its exclusive listing agent begins public marketing. A third violating listing will be removed, while all later noncompliant listings from that agent will not be published across Zillow portals.
Read storyNew York City is working with the governor’s office on Opportunity Zone 2.0 nominations while seeking a version of the federal incentive that better supports affordable-housing production, rehabilitation and preservation. Research on the prior program found stronger housing production in designated areas, but a greater market-rate share of new apartments.
Read storyHousingWire reported that mortgage rates ended the week at 7.12%, after staying below 7% earlier in 2026. Holiday-distorted inventory, listing and sales indicators make the next few weeks important for assessing the effect on housing activity.
Read storyThe City Council approved measures tied to the 25th anniversary of 9/11 alongside bills addressing recurring dog-waste complaints, notice for disruptive transportation work, outdoor lighting at certain homes, retailer licensing, food warnings, and cultural preservation.
Read storyCouncil Speaker Julie Menin has asked Guastavino’s ownership to meet on a durable agreement covering public access, signage and security at the East 59th Street plaza. The request follows allegations of restricted access and private use of the City-owned space.
Read storyFay Group has acquired VanDyk Mortgage Corp., adding agency-lending capabilities, a servicing team and mortgage servicing rights capacity. The companies did not disclose transaction terms.
Read storyThe New York City Council announced $1 million in its Fiscal Year 2027 budget for free student visits and expanded education programs at the 9/11 Memorial & Museum, with an emphasis on eighth-grade classes.
Read storyHousingWire reported that mortgage rates rose to a yearly high of 6.87% on Monday. The outlet identified developments in the Iran conflict, trade-policy risk and a slate of labor reports as factors that could affect whether rates move above 7%.
Read storyNew York City is issuing a second wave of pied-à-terre surcharge letters after receiving preliminary state income-tax records ahead of the usual schedule. The Department of Finance has cleared 1,210 owners, while other recipients may still need to submit records by Oct. 6.
Read storyThe Mamdani administration has introduced an expedited Housing Court process for certain cases involving broad vacate orders, severe essential-service violations, elevator outages and qualifying Article 7A proceedings. Eligible cases are expected to involve 40 to 50 buildings a year.
Read storyHousingWire published a Polly-powered four-episode video series filmed in New York City featuring executives from four mortgage lenders and banks. The sessions focus on lending operations, technology, pricing, partnerships and service models; the packet does not announce a New York housing-market policy, transaction or product change.
Read storyAn amended complaint names Charles Lieberman as the proposed lead plaintiff in a case alleging Compass restricted public rental-listing access in New York City. Compass has previously characterized the listing approach as a common marketing strategy, and it declined to comment on the amended claims.
Read storyHousingWire reports that relatively contained mortgage spreads have kept mortgage rates below 7%, even as Iran conflict-related inflation risk remains the article’s primary driver of elevated longer-term yields. The latest weekly data showed modest inventory growth and softer purchase demand year over year.
Read storyA HousingWire commentary argues that some Federal Reserve officials’ concerns about AI data-center investment and power demand could add to inflation pressure. It presents the potential housing effect as one transmitted through interest rates, while emphasizing that its outlook is commentary rather than a documented Federal Reserve policy decision.
Read storyAmerican Strategic Investment Co. said there is substantial doubt about its ability to continue as a going concern as it works through $249M of debt, including a $140M loan on 123 William St. that matures in March.
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The City Council announced $24.4 million in capital funding to turn underutilized lots beneath the Cross Bronx Expressway at Ittner Place into new community park and green space, while launching a community-engagement study for the Park and Webster Avenue corridors.
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The New York City Council has launched a Census Taskforce to inform the city’s newly established Office of the Census. The group will conduct research, outreach and feedback-gathering before issuing recommendations intended to support a complete, accurate and inclusive federal Census count.
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Long Island developers and economic-development officials say PILOT tax agreements are often central to multifamily project financing, while critics question whether industrial development agencies should subsidize housing and whether the benefits deliver enough below-market homes.
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Tenant advocates filed in support of New York City’s 0% rent-stabilized lease-renewal increase, countering landlords’ claim that the Rent Guidelines Board acted unlawfully.
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The New York City Council has opened an investigation into the marketing and advertising practices of major prediction-market platforms and says it plans a hearing to assess whether further consumer protections are needed.
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New York City homeowners are challenging the notice and exemption process used to implement a surcharge on high-value non-primary residences. The lawsuit does not contest the tax itself, but alleges that primary-residence owners were required to prove they should be excluded.
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The White House has reportedly begun a new process that could seek the removal of Federal Reserve Governor Lisa Cook, giving her three weeks to answer allegations related to mortgage documents. Cook denies wrongdoing, and any removal effort could prompt further litigation over the Federal Reserve’s independence and the standard for dismissal.
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New York City has made embodied carbon eligible under its C-PACE program, broadening a potential long-term financing source for office-to-residential reuse projects. The change comes as Manhattan’s conversion pipeline faces rising costs, engineering scrutiny and difficult funding conditions.
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After a column-buckling incident at a Manhattan office-to-residential project, the Department of Buildings inspected 180 construction sites. The agency reported 65 violations at 38 sites, issued 19 stop-work orders and said it found no structural conditions posing imminent danger to public safety.
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The New York City Council will hold a September hearing on e-bike and e-scooter safety, reviewing enforcement of existing laws and considering proposals concerning device sales, delivery platforms, commercial vehicles, data reporting and street design.
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A&E Real Estate’s CMBS loan tied to a 53-building New York City portfolio remains in default and foreclosure proceedings are ongoing. The portfolio is largely rent-stabilized, while reported operating costs have risen faster than revenue ahead of a rent freeze scheduled for October.
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A sponsored Bisnow interview with The Kulka Group CEO Devin Kulka highlights rezoning, public hearings, community engagement and financing as central hurdles for Long Island development, particularly multifamily projects.
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New York City selected Slate Property Group, The Hudson Cos. and Volunteers of America for The Orion, a proposed 980-unit mixed-use development on a city-owned Long Island City site. Construction is expected to begin in the next few years, while financing and regulatory approvals remain outstanding.
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