Buy & Sell

New York’s Monterey Apartment Building Under Contract for $250 Million

Related Companies, the owner of the posh Monterey rental apartment, located on the Upper East Side of New York, has agreed to sell the building to Crammeby’s International Group for around $250 million. The building was listed for sale sometime back in January 2013 and is now under the escrow just after two months from its listing debut.

Manhattan Inventory Down As Prices Continue to Rise

Manhattan apartment prices held steady in the first quarter of 2013, while inventory continued to plunge rapidly during the same period, according to a quarterly market report released today by Douglas Elliman.

Chinese Couples Rushing to Divorce to Avoid Property Taxes

A vast majority of Chinese couples are rushing to the marriage bureaus to divorce each other in order to evade a stringent property tax that local governments are now imposing to curb the red-hot property bubble in the country.
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