A long decline into irrelevance ended on Wednesday in Philadelphia.

Apartment Investment and Management Company, better known as Aimco, is preparing to go out of business.  The Denver-based multifamily owner and operator announced plans to sell off all of its assets across the country, Bisnow reported. It’s the conclusion to a nearly year-long saga that began after the firm started a strategic review of options in January.  Aimco has seemingly seen the writing on the wall for some time, selling off properties across the country and shaving down its holdings to just 15 assets in New York, Georgia, Illinois, California, Tennessee and Florida. The company recently delivered three developments and […]

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Ahead of the 10th anniversary of the Arlo Hotels brand’s launch, London-based Quadrum Global is exploring a potential sale of the business. Quadrum tapped Moelis & Co. and Eastdil Secured to seek buyers for the brand and its underlying real estate, Bloomberg reported. There’s no guarantee the search process will result in a sale of the boutique lodging brand. Moelis and Eastdil declined to comment to the publication, while Quadrum did not respond to the publication’s request. Quadrum started the micro-hotel brand in 2016 after a collaboration with John Pritzker fell apart. The brand’s portfolio of seven hotels — designed […]

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For the poorest Americans, the expected end to the longest shutdown in history has left doubt and anxiety around the benefits known as SNAP.

The contracts are the latest sign of how Europe is lagging the United States in the race to break China’s chokehold on rare earths.

The departure of Raphael W. Bostic, who has served in the role since 2017, would create a new vacancy at the central bank.

Masterworks offers average investors a chance to buy individual shares in paintings often only owned by the rich, but critics say its marketing can overstate the upside of investing in its art.

The apparel giant is now valued at $5 billion after a new fund-raising round, as it continues to grow its business.

Predictions are hard. Especially about the future. I’m not sure if Yogi Berra actually said that, but it’s particularly true for elected officials talking about real estate, a topic they think they understand but don’t. State Sen. Brad Hoylman-Sigal said in November 2021 that the Soho/Noho rezoning would invite an influx of big-box stores. The rezoning was approved weeks later. Have you noticed any big-box stores opening in Soho and Noho? City Comptroller Brad Lander managed to get the New York Times to publish his op-ed in 2020 saying the pandemic would trigger a wave of multifamily foreclosures, so the […]

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One year ago, the City Council upended how apartments are rented in New York City.  On November 13, 2024, the Council approved the Fairness in Apartment Rental Expenses (FARE) Act, a measure that banned forcing tenants to pay fees for rental brokers they did not hire.  The bill’s approval was the culmination of years of efforts to reform a system that often cost tenants thousands of extra dollars to secure an apartment. Proponents of the FARE Act argued that this dynamic gave landlords more leverage to raise rents at lease renewal, knowing that tenants likely wanted to avoid those upfront […]

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