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June 2018 Archives

Real estate transactions occurring quickly, at higher prices

Homes in New York and other parts of the United States are selling like hotcakes these days. In fact, research shows that, on average, they sold in only 54 days. In addition, the median listing price in residential real estate transactions was $299,000.

Real estate transactions involving leases can be dramatic in NYC

The commercial property landscape in New York will soon become livelier. After all, a live theater studio recently signed a lease that is set to last 15 years off of Broadway. This is one of the most dramatic real estate transactions involving leases to occur recently in the Big Apple.

Can your mortgage preapproval amount change?

When lenders preapprove you for a mortgage, they draw upon factors such as your credit score, income and expenses to determine the amount you qualify for. However, a situation that pops up for some buyers right before closing is this: The preapproval amount does not match what the buyer actually qualifies for now. In fact, the current amount is smaller than the original, and the house may no longer be within the buyer's reach.

Life science companies may complete more real estate transactions

Commercial space spanning nearly two million square feet in New York City is currently dedicated to the life science field, and all of this space is occupied. This is a sign that this industry is growing quickly in the Big Apple. In fact, New York is bracing itself for many more life science businesses interested in engaging in real estate transactions there.

New York real estate transactions may involve office condos

An office condominium was recently sold in New York City for $596 million. Apparently, Wells Fargo lent a total of $345 million to finance this real estate acquisition. These types of commercial real estate transactions can easily be lucrative for sellers in the short term and for buyers in the long term, depending on the circumstances of the sales.

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