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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.… Read More
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.… Read More
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
“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