Casey Prentice

The most-read story from the previous week's Developer's Digest®, published by Crain's New York Business, covers office-to-residential conversions gaining traction in New York City as a solution to the housing shortage and office surplus, bolstered by a new state budget tax incentive. The Adams administration has launched a portal on the Department of Housing Preservation and Development's website detailing the program, which starts accepting applications later this year. Projects must begin between 2023 and July 2031 and be completed by December 2039, offering tax benefits lasting up to 35 years based on the project start date. To qualify, conversions must include at least six residential units, with 25% of the units being permanently affordable for households earning up to 100% of the area median income. At least 5% of these affordable units must serve households earning no more than 40% of the area median income, and the overall affordability average must not exceed 80%. Additionally, half of the affordable units must be two-bedroom units or larger, and no more than 25% can be studios. Conversions can occur citywide, with more substantial tax benefits for projects in Manhattan below 96th Street, where they will receive a 90% tax exemption initially, decreasing over time. To read more stories like this and to stay on top of the most recent news from the development world, subscribe to our Developer’s Digest® using the link below: https://bit.ly/3Qg1qXV #digest #dsa #nyc #weknowzoning #deveopmentsites #developmentnews

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Our East Boston property owners will be thrilled to know our 2024 East Boston Apartment Rental Market Report is out! East Boston has been a popular neighborhood for renters looking for more affordable rents for years. Demand is at an all time high, and we explore whether affordability remains viable in Eastie if current conditions remain the same. There are some upcoming developments that may have an impact on the rental market, but Boston remains in dire need of new rental inventory across all neighborhoods. Please let me know your thoughts in the comments! Where do you think the East Boston rental market is headed? #BostonApartments #BostonRentalMarket #EastBoston #Eastie #BostonRenters #RealTimeData #PropertyOwners #InvestmentProperties #Landlords #MostApartments #MostKeys #MostListings #MostLandlords #MostLeads #MostTrusted #BostonPads

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The 2024 Mid-Year Report is available now. Key highlights include: 😀 Growing optimism among high net-worth individuals 🏠 Continued demand for “have-it-all” properties 💖 Shift towards finding “forever” dream homes Discover the latest trends and insights shaping the luxury real estate market. Dive into the full report at https://bit.ly/4dLjIsD

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As luxury homebuyers demand properties that merge opulence with sustainability, developers face rising expectations. According to Tammy Fahmi, senior vice president of global servicing and strategy at Sotheby’s International Realty, younger customers want to know: “What sustainable features does the property offer? What green building materials does it feature? Has it received any green certifications?” Buyers seek transparency about sustainability credentials, creating urgency for developers to meet these standards. This trend presents challenges, especially for those overwhelmed by the complexity and cost of sustainable practices. Despite this, high-quality materials such as glass and mirrors can help developers achieve green credentials, meeting the expectations of today's informed buyers and contributing to long-term environmental goals. #AGCGlass #GlassforQualityLife #BuildingIndustry #Innovation #Trends #Sustainability #glassindustry #sustainableconstruction #SustainableArchitecture

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My latest for Hotel Investment Today is that I talked to JLL's Hotels & Hospitality Group's Kevin M. Davis about why the SASB CMBS market for hotel refinances is so active right now and why that activity isn't slowing down anytime soon. #hotelinvestmenttoday #hotel #hospitalitynews #hotelnews #hospitalityindustry #hospitality #hotelrefinance #sasbcmbs

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Boost Revenue - Boost Occupancy In real estate, some areas might demand a bit more money, but it’s crucial to pivot if the effort is worth the return. For instance, if certain actions move your occupancy rate from the low nineties to a higher level, you need to assess if the numbers support it. Testing and continuous adjustment are key—nothing is set in stone. As we've seen with COVID and recent interest rate hikes, the market can change rapidly. What works today may not work a year from now. Staying flexible and ready to adapt is essential for long-term success in real estate. 👇CLICK ON THE LINK BELOW TO WATCH THE SHORT VIDEO👇 #columbusohio #columbus #multifamily #apartments #investwithscottkidd

Transforming luxury estate management into an art, Georges Labaki blends hospitality with military precision. His team-first approach and core values create a seamless, stress-free experience for Navy leaders in Annapolis. Hear more from George on the latest episode of Beyond Wealth and share it with someone who is interested in estate management. Link in comments! #EstateManagement #WorkLifeBalance #Military #PropertyManagement #ProjectManagement

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Ready to dive into the world of luxury real estate with Forbes Global Properties? Click the link below to explore the first issue of their new online magazine! 🔎 https://bit.ly/3RLTWMe #Elegran #ForbesGlobalProperties #LuxuryRealEstate #NewYorkCity #RealEstateNYC #RealEstateBroker #Business #TrendingNow

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New rental properties in #UpperManhattan are experiencing strong demand and rising prices, partially driven by #NYCrenters seeking more value amid record-high citywide rents. We’ve provided a snapshot of the area’s luxury new development – with some interesting stats – at the link. #TheMarketingDirectors ⁠#TMDRealEstate #RealEstate https://lnkd.in/eW2AY44v 

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Ready to elevate your property management game? 🏠 Attracting and retaining tenants is about more than just providing a space to live—it's about creating a community and ensuring comfort. Swipe through for practical strategies to make your property stand out in the competitive NYC tri-state market. From offering the right amenities to keeping your curb appeal in check, and ensuring clear communication with emergency contacts, these tips will help you boost tenant satisfaction and secure long-term leases. 💬 What other strategies have you found effective? Share your thoughts in the comments below! Don’t forget to follow us for more insights on real estate management.

Thinking about investing in Boston's luxury real estate market? This insightful article from Plus Render covers key things to know before taking the plunge. As we expand our services into New England, we're excited to share resources that align with your goals. Read the full article and get inspired for your next move! https://buff.ly/3YHlZ3i #boston #realestate #newengland #LuxurRealEstate

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