Boston is giving its office-to-residential conversion program another year to prove itself, but so far the results have been mixed.
Despite the city approving 15 projects since launching the Downtown Residential Conversion Incentive Pilot Program in 2023, only six are under construction and just one conversion has opened, prompting developers and industry experts to question if Boston is positioned to scale up the program.
BYD, Chery and other Chinese automakers are winning over drivers in Britain, where tariffs are low and buyers are open to new brands.
The Chinese government is betting that robots will drive economic growth. But the bots can’t really do much yet.
What is left of Citadel’s Chicago employees are leaving the 37-story tower on 131 S. Dearborn St. and heading just a few blocks away.
RBC Real Estate Capital Corp. sold a $570M defaulted loan tied to roughly 1,500 San Francisco apartments, setting up the latest transaction involving the thousands of units once controlled by Veritas Investments, the San Francisco Business Times reported.
Affinity Partners, Mr. Kushner’s private equity firm, played a small financial role in Paramount’s $108 billion offer, but it had attracted political attention to the deal.
Gary Barnett supersized his project at 655 Madison Avenue, but needed a financing package to match. Adi Chugh’s Tyko Capital delivered. Extell Development landed $1.13 billion in construction financing for its 74-story project in Midtown Manhattan, the Commercial Observer reported. The deal, done without brokers, represents the largest construction financing package in New York City this year. The financing closed on Monday. Tyko declined to comment to the Observer, while Extell did not return a request for comment. Extell in July filed a rezoning application with the Department of City Planning for the site, doubling the number of stories Barnett […]
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Midwood Investment & Development is making its next move towards a major project in Brooklyn’s Gowanus neighborhood. John Usdan’s firm secured $200 million in construction financing for its project at 200 Douglass Street, the Commercial Observer reported. The loan will help support the multifamily development, expected to wrap in the fall of 2027. Affinius Capital provided the loan for the 21-story, 276-unit project at the corner of Douglass and Bond streets. The development is expected to include 20,000 square feet of retail space on the ground floor. Units in the building will range from studio to three-bedroom layouts. Residential amenities […]
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A landlord battered by the pandemic-era collapse in tourism is scrambling to hang on to a boutique Nolita hotel as a long-running foreclosure inches forward. Veracity Equities, the lower Manhattan-focused firm run by Edmond Li, is facing a $35.3 million judgment tied to a defaulted mortgage at the Nolitan, a 55-key hotel at 153 Elizabeth Street. The nine-story building on the corner of Kenmare Street had been slated to go up for auction this week, Crain’s reported. Instead, the auction has been pushed — again. Li and lender Silverpeak Real Estate Finance agreed Monday to delay the sale until Feb. […]
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Less than two years after buying a retail condo at 715-717 Fifth Ave., Kering has moved the space to the sales rack.
The parent company of Gucci, Yves Saint Laurent and Balenciaga sold a 60% stake in the 115K SF property to French private equity firm Ardian. The transaction values the property at $900M, roughly 7% less than the $963M that Kering paid for the multilevel condo in January 2024.