Related California co-founder and chairman Bill Witte is stepping down as CEO.
Effective Jan. 1, 2026, the company’s Gino Canori will become president and CEO of Related California’s market-rate division, while Ann Silverberg will become president and CEO of the firm’s affordable division. Witte will move into the role of chairman emeritus at that time.
Related California is the West Coast arm of Related Cos. Witte founded Related California with Stephen Ross in 1989.
In his nearly 40-year tenure, Witte grew a portfolio that now encompasses more than 21,000 residential units completed or under construction, including public housing redevelopments, mixed-income housing, market-rate projects and mixed-use developments. 
Related California recently opened a project at…

The portrait of Elisabeth Lederer, looted by the Nazis and spared from a blaze, was a highlight of the Sotheby’s inaugural sale in its new home.

The New York Times identified some of the guests invited to President Trump’s dinner for Crown Prince Mohammed bin Salman of Saudi Arabia.

The organization spearheading economic development efforts in Maryland’s largest county has a new leader.
Montgomery County Economic Development Corp. has selected Jared Smith, who previously led economic development for Henderson, Nevada, as its president and CEO, the nonprofit announced Tuesday. He is slated to start Dec. 8. 

The future of SL Green and RXR’s Worldwide Plaza was uncertain. But a big name in New York City real estate appears to hold the key: Gary Barnett. The Extell Development leader purchased the mezzanine debt backing the Midtown office building, the Commercial Observer reported. It’s unclear when Extell came into control of the debt — the company declined to comment to the publication — but it puts Barnett in prime position to take control of the building at its UCC foreclosure auction, scheduled for Jan. 15. The previously undisclosed mezzanine lender scheduled a foreclosure auction for the controlling entity […]

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

A clash between the founders of the New York City-based brokerage Casa Blanca and its investors has landed in court.  CEO Hannah Bomze sued two of its investors, Samuel Ben-Avraham and Christian Visdomini, in October over allegations that they’re withholding $1.2 million in commissions owed to her, according to a motion for summary judgment filed in New York Supreme Court.  Now those same investors are firing back with their own lawsuit accusing Bomze and her husband, chief operating officer Erez Zarur, of misappropriating the firm’s funds to pay for personal expenses, such as luxury vacations.  In their complaint, Ben-Avraham and […]

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

The age-old question of whether or not a hot dog is a sandwich is giving way to an even more important debate in the Flatiron District: is a coffee shop a restaurant? Those are the grounds through which residents of 140 Fifth Avenue are suing to stop the pending arrival of Ralph’s Coffee, the New York Post reported. The namesake coffee chain of Ralph Lauren is seeking to relocate from 160 Fifth Avenue. Restaurants are barred from taking the retail space on the building’s ground floor, a commercial condominium owned by Ascot Properties NYC.  Residents had a bad experience with […]

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

“It’s not the question that I mind; it’s your attitude,” the president told Mary Bruce of ABC News, as the Saudi crown prince looked on. He also criticized ABC.

The debt tied to Brookfield Asset Management’s portion of the New York Times Building is going the way of special servicing, but the fine print suggests not all is lost for the owner. The $515 million commercial mortgage-backed securities mortgage went to special servicing ahead of next month’s maturity, the Commercial Observer reported. The move was disclosed by Morningstar Credit on Monday. The transfer request was made by Brookfield, which owns the upper half of the 52-story, 1.5 million-square-foot office tower at 620 Eighth Avenue. Floors 29 to 51 span approximately 740,000 square feet and secure the debt in question. […]

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

Eldridge Real Estate Credit, the real estate lending division of Todd Boehly’s investment firm, has lent £146M to student and coliving developer Vita for a big new project in Manchester, a transaction that means the two parties have done more than £1B of financings together. 
The latest transaction is a senior development loan for Vita Student First Street, an 861-bed, 170K SF student scheme in Manchester’s First Street regeneration area. 
Construction of the project has already started and has Building Safety Act approval, Vita said. Completion is targeted for June 2028, ahead of the 2028-2029 academic year. Vita’s Manchester student projects have…