NYC Real Estate News by Fernando Branco, Real Estate Broker, GRI, ABR, CNE - Fernando Branco Realty

WHEN IS A COMMITMENT LETTER NOT A BANK COMMITMENT: WHEN THE PURCHASER FORFEITS THE DEPOSIT BECAUSE OF IT   All real estate agents and purchasers beware!! In residential real estate transactions where financing is involved and the contract of sale is contingent on the purchaser's ability to obtain financing (of course there are transactions which allow the purchaser to obtain financing that do not provide for a contingency), it is imperative the purchaser and the buyer's agent understand the complexities of the mortgage clause in the contract of sale.   The purchaser has been pre-approved by a lender and the transaction is well on its way to a successful conclusion depending on the application review by the cooperative corporation or condominium board of managers, if applicable. True to her word, the lender issues a commitment within forty-five days of the contract execution. Unfortunately for the purchaser, seller and the real estate agents, the commitment is anyth...

Emily Blunt and John Krasinski buy $11M Brooklyn Heights condo The couple purchased two adjacent units that can be combined to create a full-floor residence. In Brooklyn Heights, condos on former library site launch sales from $1.088M The 38-story building will bring a new Brooklyn Public Library branch, along with 133 apartments, to the neighborhood. Brooklyn Navy Yard’s massive Wegmans to open this fall The 74,000-square-foot supermarket will create 500 jobs NYC Ferry will launch service to Staten Island, Coney Island The ferry service will hit all five boroughs by 2020 Brooklyn renters saved $6.4M thanks to L train shutdown hype North Brooklyn renters who signed 2018 leases are the biggest winners in wake of the L shutdown cancelation. Cuomo’s new L train plan will get independent review, says Byford The NYCT president said he will not be "steamrolled" into rushing a review of the suddenly-announced plan 5 Listings in Williamsburg to check ou...

Jennifer Lopez and Alex Rodriguez list 432 Park condo for $17.5M The couple purchased the apartment less than a year ago 26 best things to do in NYC right now Curbed New York's editors have chosen the 26 places that you must visit in New York right now—the new classics, old favorites, and other essential sites. Billionaire’s modernist One Beacon Court penthouse returns with $70M discount The apartment, designed by Charles Gwathmey, was originally asking $115 million; now, it’s listed for $45 million. 19th-century West Village townhouse with 6 fireplaces seeks $5.95M The home is configured as a multi-family residence but can become a single-family abode. For $67M, an opulent Upper East Side mansion with Thierry Despont renovation The 13,000-square-foot home has a ‘resort-style’ fitness center, among other over-the-top perks. Hudson Yards performing arts center sets opening date The Shed will debut on April 5 with several notable commissions Tracking th...

Here are your New Year’s Eve street closures for Times Square Everything you need to know about the ball drop Where to watch New Year’s Eve fireworks in NYC Four alternatives to spending New Year’s Eve in Times Square or stuck at home. Downtown Brooklyn may sprout 942-foot tower The development as planned would be the densest in Brooklyn. Historic Clinton Hill carriage house with massive backyard wants $3.4M The three-level home, located at 314 Waverly Avenue, could use a modern makeover, but there’s plenty to work with. 4 open houses in Clinton Hill to check out this weekend If your’e looking to buy in the neighborhood, here’s a few places worth considering Here are your New Year’s Eve street closures for Times Square Everything you need to know about the ball drop Everything you need to know about getting around NYC this New Year’s weekend Major changes coming to New York’s streets, subways, buses, and more THINKING ABOUT SELLING AND/OR BUYING IN ...

The most beautiful NYC homes of 2018 When it came to beautiful listings this year, New York City did not disappoint. From celebrity homes to historic townhouses to opulent penthouses, these are the 10 homes that made us say "wow!" in 2018. NYC’s best new architecture of 2018 Take a trip through the year in architecture 432 Park’s 95th-floor penthouse now split into two $41M listings The 95th-floor penthouse first appeared in 2016, asking $82 million; now, it's returned as two apartments. Billionaire producer Sidney Kimmel lists expansive Central Park South spread Billionaire philanthropist and film producer Sidney Kimmel, who cultivated his fortune as the founder of Jones Apparel Group, has  listed  his full-floor apartment at the Ritz Carlton Residences on  Central Park  South for $39.5 million NYC’s 20 most expensive homes sold in 2018 Unsurprisingly, every single home on this list is in Manhattan. THINKING ABOUT SELLING AND/OR BUYIN...