Orion Properties may finally be giving in to pressure from a private investor that has been circling the beleaguered office REIT for months. 
The company announced Monday that it is undergoing a “review of strategic options” and has signed a cooperation agreement with Kawa Capital Management, an alternative asset manager that is also one of its largest shareholders. 

Oleg Cassini’s former Gramercy Park townhouse has sold for the second time in three years.  The late fashion designer’s former home at 135 East 19th Street sold for $7.4 million, according to public records. The home previously traded in a 2022 auction for $5 million.  At one point, the home had been valued near $15 million, close to what the seller initially tried to flip the house for after one year after buying it. The seller lopped off the price by the millions until turning the listing over to Douglas Elliman’s Eleonora Srugo in July, asking $8 million.  Four months […]

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Elme Communities found a buyer for three properties as the REIT executes its liquidation plan, but it is also tempering shareholders’ expectations about how much cash they should expect back. 

Electrical grids appeared to have handled the storm over the weekend relatively well, but energy experts said the risk of more outages remained.

Though Congress cut $500 million from NPR and PBS stations, vanishingly few have closed their doors. Angst about their long-term future remains.

Delays and cancellations persisted, a day after more than 11,000 flights were canceled. Airports in the Northeast U.S. were hit the hardest.

A 700-unit Upper East Side apartment tower has taken a steep valuation hit, highlighting the growing financial strain on rent-regulated housing in New York. Yorkshire Towers, a 21-story white-brick rental building at 305 East 86th Street owned by Meyer Chetrit and Stellar Management, lost about 30 percent of its value over the past four years, according to an appraisal cited by Crain’s. Morningstar Credit Analytics pegged the combined value of Yorkshire Towers and a smaller nearby property at $678 million, down from $954 million in 2022. The drop comes despite strong demand for market-rate units in the building, which features […]

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A.I.-generated content of Victoria Beckham has spread as wedding drama has engulfed the celebrity clan and the public has clamored for receipts (even fabricated ones).

Some companies have begun to respond to the fatal shooting of Alex Jeffrey Pretti and the immigration crackdown. But others have stayed silent.

The price of gold surged above $5,000 an ounce as investors sought shelter from geopolitical uncertainty.