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Month: June 2019

Jun 2019

Following Statewide Rent Cap, Oregon Multifamily Investment Drops 38%

CoStar Market Insights: 60% of Investment Comes from In-State Buyers, Nearly Triple the Rate in 2018 In the wake of Oregon’s new statewide law capping apartment rent growth, multifamily investment – particularly from out-of-state buyers – has significantly declined. This may hold lessons for states around the country grappling with rent control measures. It’s only …

Jun 2019

How Sandra Lee may profit from lax state property assessment system in selling home

Tax Watch columnist David McKay Wilson looks at how the assessment on Sandra Lee’s home can help her sell the property she calls Lily Pond.  New York’s lax laws on real estate revaluation, which have seen scant reform under Gov. Andrew Cuomo, will benefit his partner, Sandra Lee, as she tries to sell the Westchester home they’ve …

Jun 2019

Developer seeks tax deal worth $7M for hotel at St. Joseph’s Hospital

Syracuse, N.Y. — The developer of a six-story, $25.2 million hotel and apartment building at St. Joseph’s Hospital Health Center has applied for a tax deal worth $7.2 million over 15 years. BWI Hotel Acquisitions 1 LLC, a subsidiary of RPS Holdings LLC, is seeking the deal from the Onondaga County Industrial Development Agency. The …

Jun 2019

Golf Course Property Tax Bill Is Not Likely to Pass

Legislation meant to allow higher tax rates on New York golf courses looks as though it will come up short this year. Still, the lawmakers behind it vow to try again with a revised version of the bill in 2020.  At a press conference held outside the bill’s highest profile target—Trump National Golf Club Westchester in …

Jun 2019

Home buyers in Capital Region on the uptick

CAPITAL REGION, N.Y. — Residential real estate buyers are beginning to return in full force this spring, a recent update from the Greater Capital Association of Realtors reported. “The competition is fierce for well-priced homes in desirable locations,” the report said. “As prices continue to gain traction the median sales price in the Capital Region …

Jun 2019

Buffalo is shrinking, Amherst is hot: What the latest census numbers tell us

Despite the mania around downtown living and Buffalo’s urban “revival,” the city continues to lose population to its suburbs, according to new estimates from the U.S. Census Bureau. The 2018 population numbers, which cover cities and towns, show contractions in Western New York’s very largest and very smallest places even as momentum grows in places …

Jun 2019

5 kitchens and a ‘fainting room’: Who’s building Syracuse area’s biggest mansion?

SKANEATELES, N.Y. – The biggest house in Onondaga County is nearing completion. After three years of construction on the western shore of Skaneateles Lake, builders are nearly finished with a mansion that makes many other mansions look cramped. How big is it? Eight median-size new homes could fit inside. The 19,070-square-foot residence includes three separate …