?? These are New York’s top resi brokers...
THE RUNDOWN:
?? New York City is one of the most competitive resi markets in the world. Every year The Real Deal tallies up the biggest deals and finds out who makes the list of the city’s best brokers .
?? Florida’s new Live Local Act will inject $700 million into affordable housing. The law could kick off a housing boom in the Sunshine State , drastically changing Florida’s cities.
?? Chicago has a new mayor , and real estate pros aren’t happy about it . Mayor-elect Brandon Johnson has backed an increase in transfer taxes on property sales of $1 million or more.
?? Office-to-resi conversions are in vogue across the nation, but they aren’t without their challenges. But conversions can be especially difficult in Los Angeles.
?? Serhant is adding eight offices up and down the East Coast . It’s a show of strength for the flashy, young brokerage, while many of its competitors contract and cut costs.
?? Some markets like to build up. In Texas, they build out. The state is a godsend for developers, who have found political, financial, and cultural success in the suburbs of Austin and Dallas.?
THE DETAILS:
2022 was the year where it all changed – at least for the resi market. It started off white hot, with many agents still riding the high of 2021’s success. But rising interest rates cut the hot streak short, sidelining would-be buyers and keeping sellers from getting into the game. Still, the city’s top brokers and teams found ways to thrive. So, who are those top brokers? First up: Douglas Elliman’s Eklund-Gomes Team. For the rest of the top 40, check out the ranking.?
The downside of the South Florida real estate gold rush? Housing costs have risen rapidly, and workers are struggling to find homes near their jobs. Governor Ron DeSantis aims to change that by providing over $700 million in funding for affordable developments, as well as tax breaks and zoning-related incentives. But the bill could have other impacts, too. Developers will be able to build taller, denser buildings, as long as a portion of the housing is affordable, which may speed up South Florida’s skyscraper race.?
领英推荐
In a loss for the real estate industry , progressive candidate Brandon Johnson has won the Chicago mayoral race, defeating centrist Democrat Paul Vallas. Johnson, a former school teacher, campaigned on issues surrounding education and public safety. But he earned the industry’s ire in recent months after backing an increase in the transfer tax on property sales of $1 million or more. Vallas earned major contributions from real estate players like Sam Zell and Chicago Blackhawks owner and investor Rocky Wirtz.
The typical challenges of office-to-resi conversions are well-known: they’re expensive, architecturally complicated, and only work in a small percent of buildings anyways. Travel to Los Angeles and the process gets even more complex (read: expensive). For starters the city’s rezoning laws are narrow, limiting conversions mostly in Downtown L.A. Even then, the costs are prohibitive. “There’s a price point where conversion makes sense, but we have not hit it yet,” one industry insider said.
The seas are rough for resi brokerages, but "Million Dollar Listing" star Ryan Serhant is forging ahead. While some firms are raising broker fees and cutting non-essential staff, Serhant is expanding into six new East Coast markets. The two-and-a-half-year-old brokerage will be opening offices in Florida, New Jersey, and other states.?
Texas’s suburbs have become a developer’s dream. While some states erect roadblocks to new residential construction, the Lone Star State has welcomed it, especially in the fast-growing suburbs between Austin and Dallas. Local developers have turned one-horse towns into green grass suburbia in a matter of years. But they aren’t content to stay in Texas. “You’re going to watch us take this blueprint all across the United States,” one developer said.
THE CLOSE:
Serhant’s expansion is the latest move in a 3-D chess match among the resi world's biggest players. Who will move next? Keep reading TheRealDeal.com to find out.
Next Trend Realty LLC./wwwHar.com/Chester-Swanson/agent_cbswan
1 年Thank you for Sharing.