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October, 2020

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Posted by: | Posted on: October 24, 2020

Hamptons home prices soar to a record in rush for beach retreats

New Yorkers searching for a pandemic retreat have sent Hamptons home prices to a record high.

The median for properties that changed hands in the third quarter soared 40% from a year earlier to $1.2 million, the highest in more than 15 years of data-keeping, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Thursday. Sales jumped 51%, the biggest annual increase since 2014.

The Long Island resort towns, a popular summer address for New York City’s executive set, have drawn residents looking to settle in through the winter. With many schools still online and Manhattan offices mostly empty, some city-dwellers are making their escape more permanent.

“At least for now, this is going to be their primary residence,” said Todd Bourgard, who oversees sales in the Hamptons for Douglas Elliman. “They realized they can work from home, and they’re doing it.”

With all that

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Posted by: | Posted on: October 24, 2020

5 Ways To Repurpose Old Windows Into Something Beautiful for Your Home

Windows bring light, warmth, and beauty to a home. But over the years, like other components of a house, they get worn out and eventually need to be replaced.

The life expectancy of a window will vary based on its materials and your location, but most should last about 20 years. When it’s time to upgrade, don’t just toss those old panes—upcycle them into something cool.

First of all, how do you know your windows need replacing? Look for environmental cues.

“The five signs you need to replace your windows are: rising heating and cooling costs, drafts on windy days, difficulty raising and lowering windows, condensation between glass panes, and cold-to-the-touch glass,” says Brad Roberson, president of Glass Doctor.

Once you’ve determined it’s time for a window refresh, consider what you can do with those old frames. Old windows can be repurposed into pieces of art, furniture, and even

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Posted by: | Posted on: October 23, 2020

Howard Hughes Corp. Unveils $1.4B Plan for Lower Manhattan’s Seaport

The Howard Hughes Corp. has unveiled a transformational plan to revitalize Lower Manhattan’s Seaport. The $1.4 billion proposal will bring a mixed-income development and the area’s first affordable housing units to the market in decades. The project is located on a full-city block surface parking lot at 250 Water Street in the South Street Seaport Historic District area.

The affordable housing component is essential to Howard Hughes’ proposal. In the district, the median household income is $150,000, and 2.5% of housing in the area qualifies as affordable housing. The project totals 360 housing units, and 100 unit are reserved for affordable housing—25% of the total project. These are the first new affordable housing units to the area in decades, and they will be made available to families making 40% of the median area income. The remaining 260 units will be for-sale condominiums.

Architecture firm Skidmore, Owings & Merrill designed the

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Posted by: | Posted on: October 23, 2020

Is Capital Following People to Sunbelt?

“We’re seeing actual population shifts,” William Spransy, CFO of North Carolina-based Eller Capital, tells GlobeSt.com. “I believe demand is still extremely strong in the Carolinas as the pandemic has only accelerated the trend of migration out of the more densely populated areas to lower cost and lower density regions of the Southeast.” 

As people move, Spransy thinks capital flows will follow. But that isn’t the only reason he’s optimistic about investment in the Sunbelt. 

“The [the COVID migration] is obviously accelerating capital flows,” Spransy says. “In New York City, there are a number of regulatory issues and lower growth prospects.”

Spransy says new groups are coming into the region from the northeast and California. He is fielding calls from people interested in buying properties and even more groups are interested in investing in his deals. “There has been a massive amount of interest in the Sunbelt,” he says. “It’s been

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Posted by: | Posted on: October 23, 2020

Apple Expands Express Store Concept

Express stores will have a wall built in front of its store with sales counters protected by plexiglass.


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