Basil Boziotis
Basil Boziotis Real Estate
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Latest posts
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NYC Rent-Stabilized Apartments in Distress
With reduced lending options and sky-high operational costs, the rent-stabilized market in the Big Apple is facing a challenging future. While most have been focussed on the office category of the Commercial Real Estate Market CRE market, the owners of rent-stabilized apartments…
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Long Island Real Estate prices levelling off
The year-over-year median price for a home on Long Island — excluding the Hamptons and North Fork — had not dropped in 10 years. Until last quarter. But the peninsula is still no picnic for homebuyers, as the market there and on the East End remains tight and rife with bidding…
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Cap Rates resetting and the Fed
The Federal Reserve has indicated that there is potential for further increases in interest rates during 2022 and this has led to speculation that there would be widening of cap rates; however, the relationship between changes to the federal funds rate and cap rates is not…
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Soaring interest rates hammer Commercial real estate by 13%
According to the Green Street Commercial Property Price Index, commercial property prices tanked 13% from their peak in May, taking a 7.3% hit in October. Multiple CRE sectors are suffering double-digit losses; apartments, offices, healthcare facilities, and strip malls.…
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Governor Cuomo Suspends Mortgage payments for 90 days
Today Governor Mario Cuomo of New York suspended Mortgage payments for 90 days. This is not a forgiveness of debt but instead the 90 days of payments will be added to the back end of the mortgage. Decisive move by the Governor to give relief to homeowners. "If you are not…
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New York State Halts Evictions
As per Curbed, beginning Monday evening March 16th, eviction proceedings and pending orders will be suspended statewide until further notice as health officials work to curb the spread of COVID-19, Chief Administrative Judge Lawrence Marks wrote in the memo to court employees.…
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Amazon leases more space at NYC’s Hudson Yards
According to the Real Deal, Amazon, the online retail giant has signed a 335,000-square-foot-lease with landlord SL Green Realty for a new location in the Hudson Yards neighborhood. Amazon said the new office will be home to employees from its consumer and advertising groups.…
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Heavy Hitters buying on the North Fork of Long Island
Over the last couple of years there has been a growing buzz on the North Fork for many reasons, but the big talk is about all the big investors coming to the area buying up property. Eagle Point Hotel Partners, a hotel investment firm based in Manhattan, closed on its purchase…
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NYC rental law 2019, what landlords should know
New York State recently passed the Housing Stability and Tenant Protection Act of 2019, which includes a variety of rent regulation changes. These changes have broad implications for landlords, such as imposing new limits on how much landlords can charge for security deposits,…
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Foreign buyers flocking to Greece to buy Real Estate
Real estate agents in Greece say that the main factors behind this massive spike in interest in Greek real estate aside from the improved financial stability in the market, is the expectation of considerable returns from short-term rentals and the success of Greece's Golden Visa…