Russian oligarchs' NYC condos, turmoil could lower mortgages, & more

By Jennifer White Karp  |
February 28, 2022 - 10:30AM

Austin Havens-Bowen for Brick Undergroun/Flickr

Russian oligarchs—considered enablers of Vladimir Putin’s regime—own numerous pricey properties in New York City (New York Post)

Global uncertainty caused by the Russian invasion of Ukraine could lead to lower mortgage rates in the U.S. in the short term (HousingWire)

A City Council bill would make developers pay for repairs at condo and co-op projects that receive financial assistance from the city—for 10 years after the completion date (The Real Deal)

An apartment hunter who is a landscape architect had a tough time finding a Brooklyn landlord willing to let him revamp their backyard (The New York Times)

The Grand Prospect Hall in Brooklyn is demolished to make way for a five-story building with 147 residential units (The Brooklyn Paper)

The water main at NYCHA's Rangel Houses burst Friday evening, impacting 3,000 residents. Service was restored Saturday afternoon (New York Post)


Jennifer White Karp

Managing Editor

Jennifer steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in New York City real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC.

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