New York City is putting co-op boards on the clock.  The City Council on Thursday approved a bill aimed at cutting down on co-op board application response times. Members voted 46 to 2 in a veto-proof majority, which means the bill will become law.  The bill, proposed by Majority Leader and known as 1120, Amanda Farias, would require co-op boards to let applicants know within 15 days that they’ve received their application and whether their application is considered complete or if they need more information to proceed. Once the application is whole, the board has 45 days to accept or […]

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

President Trump’s trade policy, inflation and climbing stock prices shaped business and the economy this year.

In trying to help grown children, parents can hurt their own retirement security. Here’s how to stop the flow of money.

It’s been a big year. 
Interest rate adjustments, tariff roller coasters, major geopolitical shake-ups — to say commercial real estate has whiplash would be an understatement. But when we take a step back and look at 2025 as a whole, what are the key takeaways, and most importantly, what’s in store for 2026? 
To answer these questions, Bisnow Editor-in-Chief Mark F. Bonner sat down with CBRE Global Client Strategist and Senior Economic Advisor Spencer Levy for the last First Draft Live of 2025.
Their wide-ranging discussion touched on several key CRE topics, including the cities that will be hot markets next year and the “durable demand…

We can let out a collective sigh — we made it to see the end of 2025. 
For the most part. 
With the economy being rewritten in real time, banks making an unexpected leap back into the industry and the deals that sent shockwaves throughout CRE, so much happened in 2025 that the industry was struggling to keep its arms and legs inside of the ride at all times. 
Before you take a breather and reset for a new year, refresh your memory on all that made our heads spin, from the championed moves to the moments we’d rather forget. And then, take…

The basketball league will require teams to submit injury reports closer to tipoff, an attempt to close one source of inside information.

A lower-court judge had invalidated the package, saying shareholders had not been properly informed about the plan. Friday’s ruling means the pay deal, worth about $139 billion now, can proceed.

Rabina locked down a refinancing for its Fifth Avenue supertall as the 88-story cloud buster nears the finish line. Carlyle Group provided a $640 million condo inventory loan for 520 Fifth Avenue, according to property records. The fresh financing replaces a $540 million construction loan from Bank OZK and Carlyle’s Global Credit business as the mixed-use tower transitions to leasing and sales. The 1,000-foot project located near the Empire State Building now stands as the tallest tower on Fifth Avenue in that stretch of Midtown. The property combines 25 floors of offices and 100 luxury condominiums. Condo sales launched in […]

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

A Newton, Massachusetts-based REIT is continuing to sell off more of its assets to pay down its debts.
Service Properties Trust announced it closed on the sale of 66 hotels totaling 8,294 keys for $534M. SVC has sold 112 hotels totaling 14,631 keys for a total of $859M in 2025.
The sales are part of the REIT’s shift to more full-service, urban and leisure-oriented properties in strong markets.
SVC aims to sell two additional hotels for $12M, with one sale expected to close by the end of the year and the other by January.
Another $88M deal for seven hotels fell through, but the REIT now says…

With less than two weeks left in office, Mayor Eric Adams made sure to stack the city’s rent board.  Adams announced the appointment of two new members: Lliam Finn, a senior financial advisor with Merrill Lynch, as a public representative; and Sagar Sharma, an attorney with Legal Services NYC’s housing unit, as a tenant representative.  He also reappointed landlord attorney Christina Smyth as an owner representative and Arpit Gupta as a public one. In a statement, Adams said the appointments “will serve as responsible stewards of our city’s housing stock, using facts and data to reach the right decision for […]

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