Denver-based Apartment Investment and Management Co., better known as Aimco, plans to ask shareholders to approve its proposal to go out of business. 
The multifamily owner and operator announced its plan to sell off all of its assets along with third-quarter results Monday after markets closed. The decision ends a strategic review of options that began in January and would wind down Aimco’s operations.

Andrew Farkas’ Island Capital is looking to get in on New York City’s booming hotel market, offering the landmarked Lexington Hotel in Midtown East for sale. The real estate merchant bank and its joint venture partners, Three Wall Capital and MCR, listed the 725-key hotel, eyeing a price of about $275 million, The Real Deal has learned. The property is being marketed by Eastdil Secured. The hotel opened in 1929 and was given landmark status in 2016. It boasts a storied past, hosting Hollywood icons Marilyn Monroe and Joe DiMaggio during the couple’s brief marriage in the 1950s.  Once part […]

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The litigation over the fate of a prized Midtown office building is getting uglier by the day. After Aby Rosen’s RFR Realty filed a lawsuit this summer regarding the foreclosure auction of 285 Madison Avenue, buyer Ocean West Capital Partners responded last week, Crain’s reported. “This litigation is a shakedown,” the firm said in a motion filed to the New York state Supreme Court. Rosen declined to comment to the publication following the motion. Ocean West is referring to a lawsuit RFR filed in July against Korea-based lender KTB CRE Debt Fund No. 11, aka Daol Asset Management. RFR claimed […]

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Donald Trump’s first home in Queens is for sale — again.  The Tudor-style house at 85-15 Wareham Place — where the former president spent his earliest years — hit the market for $2.3 million after an extensive renovation, the Wall Street Journal reported. Its owner, developer Tommy Lin, bought the property earlier this year for $835,000 after it sat abandoned and in disrepair for years. The five-bedroom home in Jamaica Estates was built in 1940 by Trump’s father, Fred, and briefly housed the future developer before the family moved to a larger residence nearby.  Lin spent eight months gut-renovating the […]

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The two countries agreed to suspend the fees for a year as part of their recent trade pact, but America still aims to build more commercial ships.

The move has further stoked concerns among some investors that the rally in artificial intelligence stocks was overdone.

Few American are becoming mariners today, but demand could soon rise because President Trump and a bipartisan group of legislators in Congress want to revitalize the American shipbuilding industry.

Blackstone global real estate co-head Kathleen McCarthy is leaving the firm to pursue new opportunities. 
McCarthy will leave at the end of the year, she wrote on LinkedIn. Her departure means that Nadeem Meghji will become sole global head of real estate.
“Leading Blackstone Real Estate has been one of the great privileges of my career — fun, challenging, and deeply rewarding,” McCarthy wrote on LinkedIn. “I’m so proud of what we’ve built together through an extraordinary period of growth and transformation.”
McCarthy has been at Blackstone for 15 years, joining from Goldman Sachs’ real estate investment business. During that time she has overseen the…

There is hope the Thanksgiving holiday will be spared, but carriers will need some time to deal with the disruptions that the shutdown has caused for air travel.

Douglas Elliman is bringing on a new chief technology officer.  The firm has tapped Chris Reyes, a veteran in the brokerage industry, to head its technology team, where he’ll be tasked with managing the department as well as supervising product launches and software development, the company announced Tuesday.   Before joining Elliman, Reyes was an executive with Brown Harris Stevens, where he served first as chief information and product officer before taking over as CTO in 2022. He’s also held executive technology positions with Guardhill Financial, Town Residential and Citi Habitats.  Reyes is stepping into the role at a time when […]

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