Once pitched as dispassionate tools to answer your questions, A.I. chatbots are now programmed to reflect the biases of their creators.

A Midtown South office building owned by the Feil Organization fell into a special servicing hole after the matured mortgage went unpaid. The property at 261 Fifth Avenue was transferred to special servicing, Crain’s reported. The transfer took place when Feil didn’t pay off the $180 million loan when it came due in September, according to a report from credit-rating agency KBRA. The loan originated 10 years ago. The property generates enough cash to service its debts, Fitch Ratings reported in July, meaning there could be an opportunity to refinance at a higher rate. To that end, a spokesperson for […]

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

Office Properties Income Trust’s bankruptcy proceedings are off to a contentious start.

CBRE spent more than $1B to acquire Pearce Services, a major service provider in the data center and infrastructure sectors.
Dallas-based CBRE, the world’s largest real estate brokerage firm, paid roughly $1.2B to acquire Pearce from alternative investment manager New Mountain Capital. The deal has already closed, and CBRE said it expects the purchase will provide an immediate boost to the company’s performance. 

After repeatedly refusing to reveal his position on the proposals, Democratic mayoral nominee Zohran Mamdani said on Tuesday that he voted in favor of the controversial housing ballot measures.  Mamdani, before voting on Tuesday morning, confirmed that he planned to vote yes on the four housing ballot measures. City Council leaders and some of the city’s most powerful labor unions oppose three of those measures, which create faster approval processes for certain housing projects that bypass City Council review and an appeals board that could reverse the Council’s rejection of projects.  Later in the morning, he told WNYC’s Brian Lehrer […]

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

Companies that sell diamonds, plant sensors and wine all have one thing in common: They are weighing in against tariffs in a consequential case.

Tech giant Microsoft is planning to donate a quarter of its Quarry Yards land to the City of Atlanta to boost affordable housing stock on the tech company’s long-dormant office campus site.

After three decades, the MSNBC brand will be retired on Nov. 15. The network has called in Rachel Maddow to help viewers make the transition.

Everything in the shop appeared to have been abandoned. A devoted customer took it all home and started selling the items herself.

Yum! Brands, which also owns Taco Bell and KFC, said it would explore “strategic options” for the pizza chain.