The first time I came across Youngwoo & Associates, it was trying to win the RFP to redevelop the Kingsbridge Armory in the Bronx as a market.  (Mayor Michael Bloomberg instead tapped the Related Companies to make it a mall, which never happened.) These days Youngwoo is only doing data centers, which is about the furthest thing from a food market I can imagine. Why the change? Because, thanks to the AI boom, that’s where the money is. There’s also a lot of drama in data centers, which is what Youngwoo CEO Margarette Lee likes about her job. “It’s a […]

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SpaceX’s trading debut is expected to smash records. Wall Street is watching to see what else it disrupts.

There were 191 transactions totaling $513 million filed in New York City records in the 24 hours before 4 p.m. on Thursday, June 11. 🏆 Commercial: The biggest commercial sale to hit records was for the residential and retail units at 7 Dey Street in the Financial District for $222.6 million. The building stands 34 stories tall with about 260,000 square feet. The buyer was GO Residential. The seller was SL Green Realty, who will retain the office space in the building. 🏆 Residential: The top home sale to hit records in New York was in Lincoln Square at 15 […]

This article originally appeared on The Real Deal. Click here to read the full story.

With more than 500 ships still stranded in the Persian Gulf, pressure on the shipowners and sailors is growing by the day.

The previous record was set over six years ago. But SpaceX, whose stock begins trading on Friday, is on track to raise tens of billions of dollars more.

The amount of oil and fuel stored by businesses and governments has fallen sharply since the start of the U.S.-Israeli war against Iran.

The Department of Housing and Urban Development announced Thursday that it was cutting off a major source of funding to the Los Angeles Homeless Services Authority, the embattled joint city and county agency. 
The suspension of funds is pending an investigation launched by HUD’s Office of Inspector General into whether LAHSA violated federal laws, according to a letter HUD sent to LAHSA’s CEO on Thursday. 
The outcome of that investigation determines whether funding is reinstated or whether the agency is permanently debarred. 
“Year after year, hundreds of millions of taxpayer dollars were funneled to LAHSA with little accountability,” HUD Secretary Scott Turner said in a release. “Taxpayers will no…

A newly formed timber company is making its headquarters at Terminus 100 in Buckhead.

Blackstone is reportedly looking to buy H&R REIT and its diversified portfolio of more than 20M SF of North American real estate. 
The takeover talks began last year and included TPG and Crestpoint Real Estate Investments, but the pair has since walked away, leaving Blackstone at the negotiating table, anonymous sources told Bloomberg. There’s no guarantee that a deal will be reached and no whisper price, but H&R shares jumped 9% on the Toronto Stock Exchange on the news. 

The Obama Presidential Center, opening on June 19, is poised to attract visitors to an often-overlooked area. Here’s what you’ll find in Hyde Park and beyond.