Real Estate and Housing (Residential)

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      Homes for Sale in New York State

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      This week’s properties are in Rockville Centre, N.Y., and Tarrytown, N.Y.Daniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyDaniel Gale Sotheby’s International RealtyNassau | 16 Fonda Road, Rockville Centre, N.Y.Four-Bedroom Tudor$899,000A four-bedroom, one-and-a-half-bath, 1,776-square-foot house from 1932 with an entry foyer, a formal living room with a wood-burning fireplace, a formal dining room, a screened-in porch, an eat-in kitchen, an office, a main-floor washer/dryer, an attic, a finished basement and an attached two-car garage, on 0.13 acres. Sheilah Hassenbeim, Daniel Gale Sotheby’s International Realty, 516-603-3099; danielgale.comCostsTaxes: $19,335 a yearProsFans of vintage houses may enjoy the original stucco walls, doors and wood beams on the main level. The property is on a dead-end street.ConsThe kitchen and bathrooms need to be refurbished. The backyard is partially fenced. There is no central air-conditioning.James CooperJames CooperJames CooperJames CooperJames CooperJames CooperJames CooperJames CooperJames CooperJames CooperWestchester | 26 Orchard Drive, Tarrytown, N.Y.Three-Bedroom Townhouse$2.195 millionA three-bedroom, three-bath, 2,130-square-foot townhouse built in 2014, with a bright formal entryway, high ceilings, crown molding, a first-level full bathroom, an open floor plan with two-story windows, and a kitchen with island seating, a pantry and an eight-burner Wulff stove; a second-floor office space; an en suite primary bedroom with two walk-in closets, a soaking tub and a marble shower; a third-floor family room with an oversized balcony; an attached one-car garage, and a stone patio, in a townhouse community near the Hudson River. Karen Stroub, 914-646-8070, and Elvira Aloia, 914-420-7476, Corcoran Legends Realty, corcoran.comCostsTaxes: $17,871 a yearCommon charges: $582 a monthProsThere’s a private park for residents. It is less than a 10-minute walk from the Hudson River Walk and the Tarrytown train station.ConsThere is a washer and dryer on the first level, however there is no dedicated laundry room. There is no full bath on the third floor.Given the fast pace of the current market, some properties may no longer be available at the time of publication.For weekly email updates on residential real estate news, sign up here. More

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      Rents Are Falling. So Why Isn’t That Showing Up in Inflation Data?

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      Pandemic disruptions may have muddled the measurement of home prices in government data. That could complicate the Fed’s course on interest rates.The Federal Reserve may have a housing problem. At the very least, it has a housing riddle.Overall inflation has eased substantially over the past year. But housing has proved a tenacious — and surprising — exception. The cost of shelter was up 6 percent in January from a year earlier, and rose faster on a monthly basis than in December, according to the Labor Department. That acceleration was a big reason for the pickup in overall consumer prices last month.The persistence of housing inflation poses a problem for Fed officials as they consider when to roll back interest rates. Housing is by far the biggest monthly expense for most families, which means it weighs heavily on inflation calculations. Unless housing costs cool, it will be hard for inflation as a whole to return sustainably to the central bank’s target of 2 percent.“If you want to know where inflation is going, you need to know where housing inflation is going,” said Mark Franceski, managing director at Zelman & Associates, a housing research firm. Housing inflation, he added, “is not slowing at the rate that we expected or anyone expected.”Those expectations were based on private-sector data from real estate websites like Zillow and Apartment List and other private companies showing that rents have barely been rising recently and have been falling outright in some markets.For home buyers, the combination of rising prices and high interest rates has made housing increasingly unaffordable. Many existing homeowners, on the other hand, have been partly insulated from rising prices because they have fixed-rate mortgages with payments that don’t change from month to month.Housing prices and mortgage rates don’t directly show up in inflation data, however. That’s because buying a home is an investment, not just a consumer purchase like groceries. Instead, inflation data is based on rents. And with private data showing rents moderating, economists have been looking for the slowdown to appear in the government’s data, as well.The Housing ConundrumHousing costs, as measured in the Consumer Price Index, are still rising faster than before the pandemic, even as overall inflation has eased.

      Source: Labor DepartmentBy The New York TimesA Wider GapAfter surging in 2021 and 2022, rent growth has moderated. But the slowdown has been more gradual for single-family homes than for apartments.

      Notes: Data is shown as a 12-month change in a three-month moving average. “Houses” include both attached and detached single-family homes.Source: ZillowBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Homes for Sale in New York and New Jersey

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      This week’s properties are a five-bedroom in Scarsdale, N.Y., and a six-bedroom in Leonia, N.J.Laurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandLaurel and GrandWestchester | 11 Brookline Road, Scarsdale, N.Y.1932 Colonial-Style House$2.088 millionA five-bedroom, three-and-a-half-bath, 2,950-square-foot home from 1932 with hardwood floors and arched doorways; a living room with a wood-burning fireplace and outdoor access, a formal dining room with a large bay window and wainscoting; an eat-in kitchen with stainless steel appliances, an induction cooktop and an island; a family room; an en suite primary bedroom with marble tile, double sinks and an oversized shower; a mudroom, a back staircase; a wine cellar; a covered porch, a patio, and an attached two-car garage, on 0.25 acres. Anne Moretti, William Pitt Julia B Fee Sotheby’s International Realty, 914-815-0057; williampitt.comCostsTaxes: $35,295 a yearProsThe kitchen and bathrooms have been updated. Original brass door hardware adds charming detail.ConsThe kitchen is modest in size and the walk-out basement is unfinished.Jump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualJump VisualBERGEN | 117 LEONIA AVENUE, LEONIA, N.J.Six-Bedroom Dutch Colonial$1.199 millionA six-bedroom, three-and-a-half bath, three-story Dutch Colonial built in 1905, with formal dining and living rooms, a wood-burning fireplace, an eat-in kitchen with a butler’s pantry, an office, updated bathrooms, a finished basement with a rec room, basement laundry, a covered front porch, a rear screened porch and a patio, on 0.21 acres. Kim Laakso-Bahr, Sotheby’s International, 201-725-3287, sothebysrealty.comCostsTaxes: $17,087 a yearProsThe house is painted in vibrant colors and has many original features, including a split-front Dutch door, a curved staircase, pine floors, decorative molding, built-in-cabinetry and window seats. It is less than two miles from the George Washington Bridge.ConsThe four bedrooms on the second floor, including the primary bedroom, share one bathroom. There is a wide driveway, but no garage.Given the fast pace of the current market, some properties may no longer be available at the time of publication.For weekly email updates on residential real estate news, sign up here. More

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      Homes for Sale in Manhattan and Brooklyn

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      This week’s properties are in Greenwich Village, on the Upper East Side and in Downtown Brooklyn.Fox ResidentialFox ResidentialFox ResidentialFox ResidentialFox ResidentialFox ResidentialManhattan | 530 East 76th Street, No. 14CUpper East Side Condo$1.25 millionA one-bedroom, one-and-a-half-bath, 953-square-foot apartment with a windowed galley kitchen, an open living and dining room, a primary bedroom with a marble en suite bathroom, a den or home office and ample closets, on the 14th floor of a 39-story doorman building from 1987 with a resident manager, a live-in super, a concierge, a gym, a pool, a children’s playroom, a residents’ lounge, a conference room, shared laundry, a public parking garage, storage lockers, a bike room and a roof deck. Karen Gorstayn and Margo Mohr, Fox Residential, 212-639-9739; foxresidential.comCostsCommon charges: $1,909 a monthTaxes: $1,314 a monthOngoing assessment: $353.46 a month for capital improvementsProsThis pretty apartment has expansive river views. Use of the building’s pool and gym are included in the common charges.ConsThe peach color in the bedrooms may not suit all tastes. There are waiting lists for the bike room and basement storage lockers.Arnaud Montagard for Sotheby’s International RealtyArnaud Montagard for Sotheby’s International RealtyArnaud Montagard for Sotheby’s International RealtyArnaud Montagard for Sotheby’s International RealtyArnaud Montagard for Sotheby’s International RealtyArnaud Montagard for Sotheby’s International RealtyArnaud Montagard for Sotheby’s International RealtyManhattan | 25 Minetta Lane, No. 3JGreenwich Village Co-op$850,000A roughly 550-square-foot studio apartment with a kitchen that has a breakfast bar, a step-up breakfast nook, a decorative fireplace, and a windowed bathroom with a walk-in shower, on the third floor of a six-story prewar co-op building with a live-in super, a virtual intercom, a waiting list for basement storage cages, a bike room, shared laundry and a roof deck. Karin Dauch, Sotheby’s International Realty-East Side Manhattan Brokerage, 917-309-5684; sothebysrealty.comCostsMaintenance: $1,240 a monthProsVintage designer furniture can be included in the sale. Subletting is permitted.ConsIn-unit washer/dryers are allowed only if two or more units are combined. Without an available cage in the basement, storage is lackingColin MillerColin MillerColin MillerColin MillerColin MillerColin MillerBrooklyn | 9 Dekalb Avenue, No. 70FDowntown Brooklyn Condo$1.655 millionA one-bedroom, one-bath, 823-square-foot apartment with an open floor plan, a marble and granite en suite bathroom with a walk-in shower, 11-foot windows, a washer/dryer and zoned air-conditioning, on the 70th floor of Brooklyn Tower, a new 93-story doorman building with a live-in resident manager, a bike room, basement storage cages and more than 120,000 square feet of amenities including a gym, swimming pool, a roof deck, a resident’s lounge, a basketball court a dog run and a playground. Skyler Rhoten, Douglas Elliman, 347-474-1916; thebrooklyntower.comCostsCommon charges: $529 a monthTaxes: $1,201 a monthProsThe views from the large windows in this high-floor apartment are spectacular.ConsThe kitchen lacks counter space. The windows are not wired for electric shades. The fees for amenities and storage cages in this new tower are not yet finalized.Given the fast pace of the current market, some properties may no longer be available at the time of publication.For weekly email updates on residential real estate news, sign up here. More

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      Banks Face a Growing Real Estate Crisis

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      A year after the collapse of Silicon Valley Bank, investors are fearing for regional lenders saddled with a mountain of souring commercial mortgages.Concerns about New York Community Bancorp deepened on Wednesday after the lender was hit by a credit downgrade, and its stock fell further.Bing Guan/BloombergBanking crisis déjà vu? The sell-off in regional bank stocks looks set to worsen on Wednesday, after Moody’s cut New York Community Bancorp’s credit rating to junk status.Fears are now rising among investors over the United States’ distressed commercial real estate sector. This comes as a crucial lifeline created during last year’s banking crisis is set to expire.N.Y.C.B.’s shares plunged as much as 15 percent in premarket trading after the downgrade, before rebounding. The stock has plummeted roughly 60 percent in the past week after the lender reported dismal results, especially stemming from its exposure to souring commercial real estate loans.Last year, N.Y.C.B. won the bidding for assets tied to Signature Bank, which failed shortly after the demise of Silicon Valley Bank. That pushed its assets above $100 billion, putting it into a new regulatory category, and subjecting it to more stringent capital requirements.Bank jitters are spreading. The KBW Nasdaq Regional Banking Index, a collection of midsize bank stocks, has fallen nearly 12 percent in the past week as investors worry about lenders’ exposure to commercial real estate loan portfolios.Plunging office occupancy rates and high interest rates are a big reason. The shift in working practices after the height of the coronavirus pandemic has roiled the commercial real estate market and lenders could face a “maturity wall” of as much as $1.5 trillion in commercial real estate loans set to come this year and next. (U.S. regional banks provide the bulk of such loans, putting them at particular risk.)We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Homes for Sale in Connecticut and New York

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      This week’s properties are six-bedroom in Danbury, Conn., and Millwood, N.Y.Realty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansRealty PlansFairfield | 196-200 Franklin St. Extension, Danbury, Conn.Six-Bedroom Contemporary$2.199 millionA six-bedroom, six-and-a-half-bath, 7,563-square-foot home built in 1988 that has an open family room with a kitchen and dining area, lots of windows and deck access; a first-floor en suite primary bedroom with a fireplace, walk-in closet, soaking tub and patio; a formal dining room and a sunken living room with skylights; two offices; a lower level with a dance floor, indoor pool, screened porch, wet bar, kitchenette and gym area; an attached six-car garage and a detached two-car garage, on 14.3 lush acres with a footbridge, waterfall and gazebo. LM Homes Team, William Pitt Sotheby’s International Realty, 203-644-6172; williampitt.comCostsTaxes: $28,499 a yearProsWith 18 rooms, there is ample space for living and entertaining. An additional en suite bedroom is on the second level.ConsSome buyers may want to update the upper level for a more modern and cohesive interior.Joseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerJoseph KellerWestchester | 62 Taconic Road, Millwood, N.Y.Six-Bedroom From 1966$1.68 millionA six-bedroom, four-bath, 5,034-square-foot home from 1966, with a stone front porch and spacious foyer; hardwood floors, crown molding and a built-in sound system throughout; formal living and dining rooms; an eat-in kitchen with an island, granite countertops, a ceramic cooktop and French doors to a deck; a family room with a brick fireplace; an office; an en suite primary bedroom with walk-in closets, a European-style bath with a jetted tub, a steam shower, double sinks and a towel warmer; a laundry room; a finished lower level with a recreational area and storage; an attached two-car garage; and a yard with a stone patio, tennis court and aboveground pool, on 2.06 acres. Alicja P. Bohmrich, 914-469-1156, Houlihan Lawrence, houlihanlawrence.comCostsTaxes: $32,836 a yearProsNatural light is abundant, and there is ample space to entertain yet plenty of private areas. The yard has much to offer and the deck is inviting.ConsThe bathrooms are outdated and some wallpaper may not be appealing to all buyers.Given the fast pace of the current market, some properties may no longer be available at the time of publication.For weekly email updates on residential real estate news, sign up here. More

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      Homes for Sale in Manhattan and the Bronx

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      This week’s properties are in Kips Bay, Turtle Bay and on the Grand Concourse.Tyler Stuart of Real Estate Production Network and Douglas EllimanTyler Stuart of Real Estate Production Network and Douglas EllimanTyler Stuart of Real Estate Production Network and Douglas EllimanTyler Stuart of Real Estate Production Network and Douglas EllimanTyler Stuart of Real Estate Production Network and Douglas EllimanTyler Stuart of Real Estate Production Network and Douglas EllimanTyler Stuart of Real Estate Production Network and Douglas EllimanManhattan | 140 East 28th Street, No. PHAKips Bay Penthouse$1.695 millionA one-bedroom, one-bath, roughly 1,000-square-foot co-op with 10-foot ceilings, a windowed kitchen, a wood-burning fireplace, an en suite bedroom with a windowed bath, ample closets, a solarium, a 300-square-foot terrace and basement storage, in a 13-story prewar doorman building by Emery Roth and Bing & Bing with a live-in super and a roof deck. Benjamin Dixon and Matthew Mackay, 646-645-8154; elliman.comCostsMaintenance: $3,273 a monthProsThe board permits central air-conditioning and a compressor can fit on the terrace. The kitchen can be opened up. The solarium is spacious and has new shades.ConsThe maintenance fee is high. The only bathroom is in the bedroom. Washer/dryers are permitted only for buyers who combine two or more units. The bike room has a wait list.MW Studio for Brown Harris StevensMW Studio for Brown Harris StevensMW Studio for Brown Harris StevensMW Studio for Brown Harris StevensMW Studio for Brown Harris StevensManhattan | 434 East 52nd Street, No. 3ATurtle Bay Studio$650,000A roughly 500-square-foot co-op studio with a wood-burning fireplace, a windowed galley kitchen, a windowed marble bathroom, custom grasscloth wallpaper, built-in cabinets, a linen closet, through-the-wall heating and air-conditioning and a smart thermostat, on the third floor of a 13-story prewar doorman building by Emery Roth and Bing & Bing with a garden, shared laundry, a property manager, a bike room and a waiting list for storage cages. Gillian Bland and S. Jean Meisel, Brown Harris Stevens, 203-687-0433; bhsusa.comCostsMaintenance: $1,100 a monthProsA studio with a working fireplace is a find. The whole apartment was beautifully renovated last year. The maintenance fee includes electricity.ConsThe living area is small, as are the refrigerator and freezer drawers.Alex Staniloff Gotham InteriorsAlex Staniloff Gotham InteriorsAlex Staniloff Gotham InteriorsAlex Staniloff Gotham InteriorsAlex Staniloff Gotham InteriorsAlex Staniloff Gotham InteriorsAlex Staniloff Gotham InteriorsBronx | 860 Grand Concourse, No. 6FGrand Concourse Co-op$475,000A two-bedroom, two-bath, roughly 1,100-square-foot apartment with a windowed eat-in kitchen, a formal dining room, a step-down living room, an en suite primary bedroom, windowed bathrooms, window air-conditioning, built-ins and ample closets, on the sixth floor of a seven-story prewar building with a part-time doorman, a virtual intercom, a live-in super, shared laundry, a bike room, and weight and breed restrictions for dogs. Matthew Bank, Bank Neary Real Estate, 917-608-6309; bankneary.comCostsMaintenance: $1,727 a monthProsThe apartment is well maintained, nicely updated and has prewar features like bordered hardwood floors, crown moldings and French doors. Both bedrooms can accommodate king-size beds.ConsThe building is close to Yankee Stadium, which could be noisy. The primary bath is small. In-unit washer/dryers are not permitted.Given the fast pace of the current market, some properties may no longer be available at the time of publication.For weekly email updates on residential real estate news, sign up here. More

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      New York Asks Realty Company to Investigate Sexual Assault Allegations

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      The state comptroller wants eXp Realty to look into allegations that female real estate agents were drugged and assaulted during company events.The New York state comptroller has asked the real estate brokerage eXp Realty to open an independent investigation into sexual harassment and assault allegations exposed in a New York Times article last month.As New York’s chief fiscal officer, the comptroller, Thomas DiNapoli, is the trustee of the New York State Common Retirement Fund. According to the most recent SEC filing, the pension fund held nearly 27,000 shares of eXp World Holdings, the publicly-held parent company of eXp Realty.In two separate lawsuits, five current and former agents at eXp Realty said that two top agents at the brokerage drugged and them assaulted them at separate eXp recruiting events. Four of them said they were subsequently sexually assaulted, and The Times investigation uncovered a pattern of eXp leadership silencing those who tried to make reports.“The New York Times report raised a huge red flag for us as an investor in that company,” Mr. DiNapoli said in an interview. “We found the allegations very concerning and as a shareholder, we are asking questions. We want a public reporting of their efforts to prevent harassment.”With $2 billion and $90,000 agents, eXp Realty is one of the world’s fastest-growing brokerages. Ariana Drehsler for The New York TimesHe sent a letter to the eXp chief executive, Glenn Sanford, requesting that the company establish an independent committee to look not only into the allegations, but into gaps in policies that may have set the stage for assaults to occur. Mr. DiNapoli wrote that he was concerned about the “legal and reputational risks” presented by the allegations.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More