In the News

Recent news articles that Casandra Properties and our agents have been mentioned in. 

Found 28 blog entries about In the News.

ForeclosuresCasandra Properties CEO, James Prendamano, spoke to Tracey Porpora from the Staten Island Advance to discuss the latest study that found foreclosures have spiked on Staten Island over the last year. The study conducted by Property Shark saw an increase of home foreclosures from 48 in the third quarter of 2018, to 136 in the same quarter in 2019. 

 

“There is a big difference between a loan that is not performing and one that is actually been put into the foreclosure process. In many cases these non-performing loans are sold in bundles at significant discounts off par value to other banks and investment companies.  It is not unusual for a loan to be sold several times before arriving at its final servicing entity.  The average homeowner would notice

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CP for SaleTracey Porpora at the Staten Island Advance chatted with our CEO, James Prendamano about the Millenial generation. Per a new study by Apartment List, 26-year-olds are now, more than ever, more likely to live with a parent than a spouse.  In fact, just 50 years ago the percentage of 26-year-olds living with a spouse was 76%.  That number has now reduced to only 24%.  What is causing this rapid decline?  

 

“As so many things have changed over the last 20 years, so have our social patterns and that indelibly ties to real estate patterns.  Today, the average age for marriage is 28.2, so you’re seeing these folks stay at home longer in many cases to pay back large student loans, save on housing costs, etc.,” said James Prendamano. 

 

To read the

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Staten Island rentersJames Prendamano, CEO of Casandra Properties discussed the analysis by the home search platform Localize.city with Tracey Porpora from the Staten Island Advance.  According to the study Staten Island had 2,327 heat-related 311 complaints from renters last year. These complaints are among a total of 221,858 complaints from New Yorkers.  

 

James was quoted saying “Last year Staten Island registered only 1% of the city-wide complaints.  Unfortunately, we are predicting these types of complaints to increase as the new rent laws have significantly impacted investors motivation to invest in this type of infrastructure and upgrades for their buildings overall.”

 

To read the full article click here.

 

For more information about the Staten

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Staten Island RailwayOur CEO, James Prendamano, recently had the opportunity to discuss the reasoning behind the increase in home prices that are within walking distance to the Staten Island Railway (SIR). According to the study you can get anywhere from 9%-34% higher price for your home vs. elsewhere on the Island. The average price of a home near a SIR station is $499,000, with the rest of the borough averaging $459,000.

 

James was quoted saying “All things being equal, it makes perfect sense the train stops from Mid-Island and those as you get closer to the ferry carry with them pricing bumps in and around the train stations.”

 

To read more click here.

 

If you are interested in selling your home or purchasing a new home we are here to help!  Please

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139 Bay StreetCasandra Properties, Inc. CEO, James Prendamano, spoke with Tracey Porpora from the Staten Island Advance to discuss one of Casandra Properties commercial real estate listings, 139 Bay Street, Staten Island.

 

The article states that with condominium prices rising in all other boroughs Staten Island’s North Shore has become a new focus for real estate moguls.  James weighed in on this and was quoted saying, “The proximity to public transportation..coupled with the complete crazy, egregious pricing that developers are experiencing in Manhattan, Brooklyn and the other boroughs, makes Bay Street very appealing.”

 

139 Bay Street is one of three Bay Street buildings on the market.  “The former Fishs Eddy building, and before that a Studebaker

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Staten Island's North ShoreOur CEO, James Prendamano, had the opportunity to speak with Crain’s New York to discuss what we have seen in the past and what has been happening on the ground in real time on Staten Island’s North Shore. The article is entitled A Shore Thing: Staten Island’s North Shore Booms Along Bay Street. 

 

James was quoted saying “Staten Island as a whole has been shockingly stagnant since 1975 but these developments have had a profound impact.  Ten years back this area was not as appealing but I am bullish on it now. There’s tremendous growth opportunity here.  There’s such demand for housing and people want a walkable community and transit-based development”.  James went on to say “This wasn’t big bad developers pushing people out – in all these

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Home Prices on the RiseJames Prendamano, CEO of Casandra Properties, once again had the opportunity to speak with Tracey Porpora from the Staten Island Advance.  The topic of their discussion was centered around the Federal Housing Finance Agency’s second quarter House Price Index. Despite rising home prices across the country, the New York-New Jersey metro area has managed to only see a modest appreciation and comes in at 91 out of 100 metro areas in house price appreciation. 

 

James was quoted in the article saying, “There has been, and we believe will continue to be, a shift away from what is now been dubbed the “McMansions” as the millennials continue entering the housing market.  You’ll notice red hot real estate markets like Boise are offering a slice of city

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Storefront VacanciesCasandra Properties CEO, James Prendamano, recently had the opportunity to speak with Tracey Porpora of the Staten Island Advance about a recent report conducted by the City Planning Department entitled “Assessing Storefront Vacancy in NYC.” The report highlighted 2 areas on Staten Island; New Dorp Lane and Port Richmond that have experienced storefront vacancies. 

 

James was quoted saying, “Both of these corridors (New Dorp Lane & Port Richmond Avenue) were once walkable and on-site parking was not a requirement. One of the unintended consequences of downzoning and zone changes in the surrounding neighborhoods have in essence frozen these buildings in time. They don’t have adequate on-site parking that meets the retailer’s requirements.  When you

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We always welcome the opportunity to chat with our friends in the press.  It’s an extra special treat when we can opine about our beloved Staten Island Real Estate market. 

I had the pleasure of chatting with Tracey Porpora over at the Staten Island Advance last week about New York City’s ranking for affordability of first time homebuyer’s options.  The title of the article was Staten Island Most Affordable in NYC for First Time Home Buyers, Realtors say.

The list was published on WalletHub.com.  This personal finance website ranks a host of categories city by city related to personal finance.  

The website focuses on twenty-seven different metrics designed to factor in everything from Real Estate tax rates to property crime rankings - from cost of living

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Top 10 CommunitiesOur CEO, James Prendamano, spoke with Tracey Porpora from the Staten Island Advance to discuss the Top 10 Staten Island communities for home buying in 2019.  Staten Island residential sales remain strong across the Island with 1,358 homes sold so far, this year.  

 

Great Kills and Westerleigh came in as the top 2 communities for home buying this year.  “Westerleigh offers the best of the North Shore with certain South Shore elements, and Great Kills offers many of the South Shore Housing stock benefits, but is still home to transportation hubs and a manageable commute,” said James Prendamano. Annadale, Huguenot and Eltingville followed Great Kills and Westerleigh on the list to round out the top 5 communities with the most homes sold on Staten

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