LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
This dispute could have far-reaching implications beyond the real estate industry, as the split-decision ruling from the Circuit Court conflicts with the existing precedent of both the D.C. Circuit Court and the U.S. Supreme Court.
The new loan program builds on the Borough President and BXEDC’s commitment to support the growing small business sector in the Bronx and follows a $10-million loan program announced last fall.
The New York City Housing Authority received the largest funding allocation in the New York metro region at more than $1.5 billion.
Boasting a vacancy rate in the low 4% and uninterrupted positive trends in rental rates, fundamentals for Westchester multifamily are strong.
Compared to one year ago, the national median single-family existing-home price climbed 5% to $389,400. In the prior quarter, the year-over-year national median price increased 3.4%.
Located at 632-636 South Broadway, The Parker will feature 160 new units of all affordable housing in an elevator building, with on-site parking. The apartments will be priced for families with incomes at or below 80% of the area median income.
In 2022, the median net worth of homeowners was $396,200, while the median net worth of renters was $10,400.
Set on 40 acres with walking and exercise trails, Broadview at Purchase College offers a full continuum of services including Independent Living, Assisted Living, Enhanced Assisted Living, and Memory Care.
NAR Chief Legal Officer and Chief Member Experience Officer Katie Johnson explained the deadline will provide a three-month window for NAR members and MLSs to prepare to implement the policy adjustments.
Thank you to the following Members who are leading the way in the 2024 RPAC campaign
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