The philanthropist known for giving to historically Black colleges and nonprofits working on climate change offered the news by updating an October blog post.
Fortune 500 homebuilder Toll Brothers will get an extra $33M for the planned sale of its multifamily development business, but the company won’t be able to use that extra cash on holiday gifts, as the deal’s closing has been delayed to the first quarter.
Michael Virgil, 35, became agitated on a Royal Caribbean ship and was restrained by at least five crew members, including some who stood on his back, before he died, the medical examiner said.
New York City real estate agent Erik Conover was sentenced to prison after pleading in New Hampshire court to felony charges of first-degree assault and reckless conduct. The former Nest Seekers International agent and YouTuber who once counted 3 million subscribers was sentenced to a minimum of four years in prison after locking in a plea deal last week, WMUR reported. The sentence could ultimately stretch up to 10 years. Conover was arrested in March following a police chase in his Jeep, according to court documents. A local police officer tried to de-escalate the situation after multiple attempted stops, only […]
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Tariffs have become a major drag on the U.S. construction industry, and more developers have been walking away from projects.
A joint venture that includes funds affiliated with Blackstone Real Estate plans to pay cash to buy Alexander & Baldwin, the largest owner of grocery-anchored shopping centers in Hawaii.
The trio of buyers will pay $21.20 per share, or roughly $1.54B, to acquire the REIT at a $2.3B valuation when including outstanding debt.
The valuations of some artificial intelligence companies are approaching those of the dot-com boom. But investors worry that pulling money from today’s market risks future gains.
New York’s bid to bring thousands of illegal basement apartments up to code is landing with a thud as housing advocates warn that proposed rules could scare off the very homeowners the program is designed to help. The Department of Buildings’ draft regulations — including a requirement for giant, five-inch red lettering marking basement entrances — have become a symbol of what critics describe as a burdensome approach to the pilot program, according to The City. The signage rule specifically was mocked by the Citizens Housing and Planning Council, which unveiled an eight-foot banner to show just how impractical it […]
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David Bistricer turned a temporary situation at Tower 77 in Greenpoint into a permanent flex on the neighborhood’s booming multifamily market. Clipper Equity scored $450 million in permanent debt to refinance the 746-unit complex at 77 Commercial Street in the Brooklyn neighborhood, according to the Commercial Observer. JPMorgan Chase provided the financing, converting last year’s $430 million bridge loan into a five-year term. The debt deal was first reported by Commercial Real Estate Direct. Iron Hound Management’s Rob Verrone arranged the deal, which came about as the property stabilized with nearly 95 percent leased, according to Bistricer. There are two […]
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It was a pretty tight race to claim the title of largest office lease in New York City by square footage last month – six of the ten leases passed the six figure mark, with just a 4,000 square foot difference separating first and second place. The tenants themselves are a healthy mix of tech companies, law firms and plenty of financial services providers. Read on to find out where each lands on the list. 1) Rippling | 330 West 34th Street | Penn Plaza | 133K sf The workforce management platform inked a new 10-year lease in the Penn […]
This article originally appeared on The Real Deal. Click here to read the full story.