Weekly News (December 4, 2019)

This week’s Interest Rate (47th Week)

 30 Y Rate: 3.620%/ 15 Year Rate:3.125%/ 10 Y Treasury: 1.745%/  Prime Rate:4.75%
Ref IR: 1.50- 1.75%


The highest  home priced Zip code area is 94027 (Atherton, CA) in US

(The Korea Time  11/30)

  • According to the Property Shark, the highest home priced zip code area is Atherton in Sam Mateo county, CA, where the median price is $7,050,000.  They have taken #1 place for consecutive 3 years and this year is the first time it is over $7M.
  • The 2nd place is 11962 area code which is Sagaponack in Suffolk county in Long Island, NY where the median price is $4,300,000.
  • #3(90402) is Santa Monica in CA where the median price is $4,150,000.  #4(90210) is Beverly Hills in CA where the median price is $4,080,000.   #5(10007) is Tribeca in Manhattan, NY where the median price is $3,900,000.
  • Among top 100 zip codes, California has 91 entries.


NYC Housing Stability and Tenant Protections Act seems to produce good result

(The  Korea Daily  11/29)

  • According to WSJ, after this law becomes effective, law suits between landlord and tenant were reduced including less evictions files.  Eviction files due to non-rent payment have been reduced by 46% which is reduction of 3500 files.
  • Law suites for Holdover were reduced by 11.8%.  Cases filed for rent non-payment also were only 61% compared to last year which is due to the fact that new law allows more time for tenant to respond to law suit.


A Financial Technology Firm leased 5,711 sf office at $65/sf on 7th Ave, Manhattan

(The NYT  12/4)

  • EZOPS leased for 5 years for the 15th floor office space at 463 7th Ave between W 35th and W 36th  The building is 22-story in a garment district, and as built in 1925.
  • Other tenants are New York Presbyterian Hospital, FedEx and Andrew’s coffee shop.
  • Tenant broker was Optimal Spaces and landlord broker was David Levy of Adams & Company.


NYC buildings will get level of energy efficiency ( A,B,C,D,)

(The  Korea Daily 11/22)

  • According to NYT, the Act passed in 2017 will be effective from next year 2020.  A building will get a level and must display their level at a building.  Buildings are 2/3 of Greenhouse gas production sources.
  • This law will be applied to buildings above 25,000 sf at the first phase, which will be affected to 40,000 building among 1M buildings in NYC.  Those pertinent buildings must submit the report of energy usage to EPA through on-line by May 2020.
  • Even though this system is not expected to be effective to reduce Greenhouse gas emission, this system will be evolved to limitation regulation and penalty system eventually.


US GDP growth forecast for 3rd Qt will be adjusted to 2.1% from 1.9%

(The  Korea Daily  11/29)

  • The Department of Commerce of US has announced its GDP growth forecast to 2.1% on 12/27.  2nd Qt GDP growth was 2.0%.  Corporate investment decrease was changed to 2.7% from 3%. Corporate Inventory has been increased to $79.8B from $69B.  Consumer expenditure increase does not changed at 2.9% level.
  • This first half of GDP growth was 2.6%.


Other/Tech News : Google founders ( Larry Page and Sergey Brin) are stepped down

(The NYT 12/4)   

  • Sundar Pichai (Google CEO) will lead both Google and Alphabet (Two Stanford graduate students found the company two decades ago out of a garage in a single house of Susan Wojcicki(51) who has been 16th  employee of Google.  CEO of YouTube since 2014/American and  Polish citizen/ 5 children / MBA major)

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