News about properties and real estate
Palm Beach County property values make waves [South Florida] Lee Berman of Palm Beach Gardens watched the value of his 87-slip Hypoluxo marina increase from $28.4 million to $44 million over the past year. His property taxes soared with it, rising by more than $550,000, while his business income remained the same. “I do see …
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The Berserkonomics of One Rent-Stabilized Apartment Building [New York City] For decades, New York has owed a key part of its allure—its unwillingness to honor class divisions with geographic ones—to rent stabilization. Under the system, which governs rents for a million apartments in the city, wildly different tax brackets can be found sharing walls, watts, …
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Florida’s oversupply of condo-hotels could spell big trouble Florida leads the nation in the number of condominium-hotel rooms in the pipeline, but analysts fear an oversupply could prove troubling for developers and consumers. The Sunshine State has more than 31,500 condo-hotel rooms under development, according to Smith Travel Research of Hendersonville, Tenn. Nevada is second …
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The housing boom is over, but creative investors still make profits Vicky Kaye is accustomed to making a double-digit annual return in the real estate market. And unlike many other area real estate investors, she’s still doing so. “I do about two or three deals a year,” said Kaye, a licensed massage therapist who lives …
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Riviera’s titanic waterfront revamp faces sinking feeling [South Florida] For Bob Healey, the city’s $2.4 billion waterfront redevelopment plan is like a yacht stalled at sea. The New Jersey yachtmaker should know. His company, Viking Inlet Harbor Properties, was picked a year ago this week to turn 400 acres of blight into a dazzling waterfront. …
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Complex owners’ dilemma: Condos or apartments? [South Florida] With the real estate market showing little signs of revival, some condo converters are facing this dilemma: Should I keep trying to sell these units as condos, or just give up and go back to apartments? The owner of the 450-unit Mizner Court at Broken Sound will …
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