For immigrant communities from countries with especially high duties, food costs have risen sharply courtesy of President Trump.
Major office markets across the country are finally seeing improvement after pandemic-era lockdowns and remote work caused vacancies to skyrocket. The road back is still long, but promising signs are popping up on both coasts and for the country’s office stock on average.
But in Los Angeles, drooping demand and a sluggish economy have combined to keep the city’s office market frozen in its pandemic-era malaise.
“I think we’ve probably hit a plateau,” NAI Capital Managing Director of Research J.C. Casillas said. “At some point, we’re going to start seeing more consistent absorption of vacated space. It’s just going to take time…
A Downtown Brooklyn project has changed hands for the third time in a decade — and is getting bigger. Simon Dushinsky’s Rabsky Group and Joel Gluck’s Spencer Equity Group took over the long-term ground lease at 356 Fulton Street from Gary Barnett’s Extell Development in a $39 million deal, property records show. The frequent partners picked up the site, plus two neighboring parcels and air rights, in a $56 million deal, according to a filing on the Tel Aviv Stock Exchange, where Gluck has raised multiple rounds of debt financing. They intend to purchase more air rights in the coming […]
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A lawsuit filed on Monday argued that the president has discriminated against blue states by slashing federal funds for political leverage during the shutdown.
A long-awaited office tower is now one step closer to being built. Vornado Realty Trust has filed a construction permit application for a high-rise at 350 Park Avenue. Vornado is partnering with Rudin Management and hedge fund Citadel on the development of the tower located between East 50th and 51st streets. The permit application describes a 62-story building totaling more than 2 million square feet. Citadel, in addition to being a partner on the project, has agreed to rent space in the tower. Vornado announced in 2022 that the hedge fund giant would pay an initial rent of $36 million […]
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Investment giant Blackstone is expected to close a $3.46B CMBS offering to refinance a portfolio of data centers owned by subsidiary QTS, a deal that would reportedly be the largest of its kind this year.
The contest for the largest retail lease in the five boroughs was a pretty tight race last month, even featuring the rare tie for first place. Both of the leases that managed to secure the top spot on this list also happened to be in the same building, but which development hosted the two largest retail leases of October? Read on to find out. 1) Convene Hospitality Group | 261 11th Avenue | Chelsea | 50,000 sf The event company signed a new lease in the Chelsea building. Rocco Laginestra of CBRE represented the tenant, while a 5-member Cushman & […]
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Manhattan’s office market is tracking towards its best year of leasing since the pandemic. Investors appear to be taking notice. Jack Resnick & Sons locked in $147 million in fresh commercial mortgage-backed securities financing for its Lower Manhattan office building at 255 Greenwich Street, the Commercial Observer reported. Morgan Stanley and Société Générale originated the 10-year loan to retire existing debt from MetLife on the 14-story, 600,000-square-foot property, developed by the Resnick family in 1987. The building, adjacent to One World Trade Center, has seen strong leasing traction despite broader market headwinds. In May, information technology firm Pearson VUE signed […]
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In one of his final missives as the company’s leader, Mr. Buffett said he would accelerate his plans to disburse his fortune to his children’s foundations.
The complex process of taking Fannie Mae and Freddie Mac public is getting yet another wrinkle. Federal Housing Finance Agency director Bill Pulte said the mortgage giants were exploring avenues to pursue equity stakes in technology firms, Bloomberg reported. Pulte, speaking from a housing conference hosted by news and research outlet ResiClub, claimed technology companies were offering equity in exchange for partnerships. “We’re looking at taking equity stakes in companies that are willing to give it to us because of how much power Fannie and Freddie have over the whole ecosystem,” Pulte told ResiClub. Pulte added that he was hoping […]
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