*For the week ending September 7, 2025*
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**1. Airbnb Ban Fails to Ease Housing Crunch**
Despite New York City’s enforcement of **Local Law 18** to curb short-term rentals, a new report finds the effort hasn’t produced the intended results. While Airbnb listings dropped by \~38,500, rents soared—with Manhattan’s median rent hitting **\$4,700**, and vacancy rates plunging to a mere **2.45%**. Short-term rentals once offered supplemental income for many; their suppression may have exacerbated affordability issues. The law has reduced tenant disturbances and aided hotel occupancy and profits—but hasn’t improved long-term rental availability. Airbnb is now lobbying for reform, even as housing advocates and hotel interests remain divided. ([New York Post][1], [The Wall Street Journal][2])
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**2. Landmark Panel Eyes Fate of Historic UWS Church**
The future of the **West Park Presbyterian Church** (135 years old, UWS Manhattan) is at a crossroads. The small congregation hopes to revoke its landmark status and sell the structurally deteriorated building for **\$33.5 million** to a developer planning an apartment tower with performing arts space. Restoration would cost an estimated **\$30–40 million**, but on-site funding is scarce. Preservationists, former tenants (including the evicted Center at West Park), and even local celebrities oppose this, citing both cultural value and view concerns. The Landmarks Preservation Commission will make the decision. ([New York Post][3])
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**3. Nev Schulman Enters NYC Real Estate Field**
**Nev Schulman**, known from MTV’s *Catfish*, is beginning a new chapter as a licensed real estate agent with Coldwell Banker Warburg in NYC. At 40, he credits his TV-honed empathy, trust-building, and emotional insight for preparing him for real estate’s nuanced human dynamics. Joining the firm also honors his father’s legacy—Robert Schulman, a top broker for over 50 years. Schulman’s resilience (recovering from a severe bike injury to complete a seventh NYC Marathon) underscores his dedication. ([People.com][4], [New York Post][5])
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**4. Soho Loft Relaunched by ‘Selling New York’ Star**
Real estate broker and TV personality **Steve Gold** has relisted his stylish SoHo loft for **\$9.99 million**, reduced from \$10.8 million. The full-floor 3,400 sq ft unit (22 Wooster Street) features three bedrooms, 3.5 baths, 11-foot ceilings, and thoughtful design including a second prep kitchen, skylights, and a home office. He also offers it for rent at **\$49,000/month** starting November. ([New York Post][6])
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**5. Historic Rock ‘Crash Pad’ Loft Hits Market**
A **historic DUMBO loft**—once used as a crash pad by Blue Öyster Cult—is now for sale at **\$2.5 million**. Located at 39 Pearl Street, Brooklyn, the 3,000 sq ft space was part of the original Masury Paint Works. Highlights include original wood beams, exposed brick, high ceilings, and expansive East River and Manhattan Bridge views. The current owners acquired it in 1997 for \$530,000. ([New York Post][7])
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**6. Deed Theft Yields \$1.2M Judgment in Schoharie County**
In a case of deed theft, a Schoharie County homeowner was deceived into signing over his property and ousted. A \$1.2 million civil judgment was awarded against the perpetrator, but recovery remains uncertain. This incident—and similar scams, especially in NYC—has spurred legislative reforms, classifying deed theft as grand larceny and extending the statute of limitations. ([Times Union][8])
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**7. Upper East Side Penthouse Listed at \$11.5M**
Following Barbara Corcoran’s rapid sale of her own Fifth Avenue penthouse, her neighbor has listed a striking Upper East Side duplex. Priced at **\$11.5 million**, the 11-room, 5-bedroom, 5-bath residence includes a chef’s kitchen, formal dining, a terrace with Central Park views, and full luxury amenities. Originally bought in 2005 for \$3.01 million, the listing reflects renewed demand in the ultra-luxury market. ([New York Post][9])
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**Summary – Key Themes & Takeaways**
* **Affordability remains a crisis**—even well-intended policies like the Airbnb ban haven’t offered relief.
* **Heritage vs. development** continues to stir controversy, as seen with the UWS church.
* **Celebs and public figures are entering real estate**, creating both media interest and potential influence.
* **Historic properties with creative legacies** are striking the market, showing enduring appeal.
* **Legal protections** for homeowners are rising in response to real property scams.
* **High-end luxury listings** continue thriving, signaling a still-robust luxury sector.
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**Next Steps (Optional Automation Enhancements)**
* Fetch **commercial market trends** from sources like Crain’s or Bisnow for next week.
* Include brief **rental vs. sale market data snapshots**.
* Track any early response to the church landmark decision.
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Until next week’s real estate dispatch, stay informed, stay strategic—and keep those deals moving forward.
Sydney Harewood is a real estate professional with a passion for NYC’s architectural gems. For inquiries, call or message Syd at 📞646-535-3819. Experience the finest in NYC real estate with Syd’s expert guidance and deep knowledge of the city’s most exquisite properties.
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