The D.C. Council passed legislation Tuesday to cap rent increases on rent-controlled apartments at 6% for the next two years, beginning July 1.
The vote comes after soaring inflation led the rent increase cap to reach its highest-ever level this year, and it follows a debate among lawmakers about how far to reduce that limit.
A lifelong protester, he became a leading promoter of organic food and a forceful critic of a food industry that genetically engineers what it produces and sells.
The FAA said the plane maker notified regulators of the latest issue.
The rally has been powered primarily by a slim cohort of mega-cap technology stocks.
LuxUrban Hotels has signed master lease agreements for two Times Square hotels, adding almost 300 keys to the company’s portfolio.
The Miami-based company has signed two 35-year agreements with five-year options for the 79-room Hotel 46 Times Square and the 213-key The Hotel @ Times Square, the company announced Monday in a release. The hotels are expected to start operating in the third and fourth quarters, respectively.
Both hotels had been struggling for some time, Crain’s New York Business reported. Hotel 46 Times Square at 129 West 46th St. was sold by Apple Core in the summer of 2019 to an LLC linked to law firm…
Landsec is in talks to buy an office building in London that could be converted or redeveloped into a life sciences scheme.
The UK’s second-largest REIT is in talks to buy Block D of the Regent Quarter scheme in King’s Cross from Nuveen and Istithmar World for £105M, React News reported. The block comprises 82.5K SF of office space leased to publisher Macmillan until 2027 but not used by the company.
If Landsec completes the deal and undertakes a life sciences overhaul, it will be following in the footsteps of British Land in expanding its commercial portfolio from offices and retail into life…
Veteran deal maker Rob Kindler has been at Morgan Stanley for 17 years.
A wide-ranging regulatory complaint goes well beyond what constitutes a security.
The price of insuring property is sharply mounting, with builders and operators of desperately needed rental housing reporting major increases in insurance costs in the last 12 months.
The National Multifamily Housing Council released its Multifamily Risk Survey and Report this week, which showed respondents are experiencing property insurance costs that are 26% higher than they were last year.
Limitations in coverage, hikes on deductibles and a shrinking private insurance market are to blame, according to the report. Rents, which are already at crisis point across the country, are going up as result.
“These new findings and risk mitigation guidance come at a critical…
Out of the four largest Texas metropolitan areas, Houston is the only one to see positive growth of average apartment rent over the past year, according to a new report.