Permanent Changes Thanks To COVID-19
When asked to place the pandemic-spurred changes in office design in a historic context, Guy Leibler, president of Simone Healthcare Development, immediately settled on 9/11. He was president and chief...
View ArticleNew York’s Local Law 97: What to Know
New City Council regulations require that most buildings 25,000 square feet or larger reduce their carbon emissions by 40 percent by 2030, and by 80 percent by 2050. This, in turn, is supposed to help...
View ArticleBiden and Commercial Real Estate: 4 Intersections to Watch
The incoming Biden administration‘s decisions on a range of issues could impact the commercial real estate market and industry directly. Here are the four areas to watch as the former vice president...
View ArticleSelf-Storage Is Winning the Pandemic
In October, self-storage operator CubeSmart closed on a $540 million purchase of eight storage facilities in New York City from developer Storage Deluxe. Malvern, Penn.-based CubeSmart bought the...
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Coworking Operators Optimistic Despite COVID Disruption
Despite recent turbulence in the sector and the general economic disruption due to COVID, coworking and flex space operators and potential users are optimistic about its future. That’s according to a...
View ArticleNYC Hotel Owners Owe Workers $500M Due to COVID Displacement
New York City hotel owners will have to pay more than $500 million to employees displaced by COVID, after an arbitrator reached a decision in a dispute between a trade association for owners and the...
View ArticleSelf-Storage Continues to Have a Good Pandemic
The self-storage industry continues to have a good pandemic, with rising rents and robust demand, but a fresh round of COVID-related lockdowns could negatively impact it. That’s according to a new...
View ArticleCOVID Dings the Conventional 10-Year Office Lease in Manhattan
Once upon a time, when coworking companies bestrode the Manhattan office market like Colossus (its most prominent firm becoming the largest occupier of space), some wise analysts divined that the days...
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5 Big Commercial Real Estate Leasing Trends to Watch in 2021
A handful of trends in commercial real estate leasing will dominate the new year, and are worth watching. The pandemic has spurred each of them in some way, but 2021 will bring new twists, even as...
View ArticleNew York City’s Top Office Addresses Draw Bargain Hunters Amid the Pandemic
More prospective tenants are touring New York City’s marquee office addresses than before the pandemic due to lower rents and additional vacancies. That’s according to a recent report from VTS, a real...
View ArticleAs Airbnb Goes Public, Challenges Remain — And Not Just From the Pandemic
Home-sharing portal Airbnb was prepared to go public on the Nasdaq Thursday afternoon, pricing its shares at $68 a piece for a total valuation of $47 billion (though both that share price and valuation...
View ArticleCushman & Wakefield Names Nadine Augusta as Chief Diversity Officer
Cushman & Wakefield, one of the world’s largest commercial real estate services firms, has named Nadine Augusta as its chief diversity, equity & inclusion officer, a newly created role. The...
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Madison International Realty, Owner of Brooklyn’s Atlantic Center, Hires...
Real estate private equity firm Madison International Realty has tapped Ehud Kupperman to manage its more than 2 million square feet of retail in the New York area. The firm announced the appointment...
View ArticleHouston Mixed-Use Project Lands $31M Construction Loan From 3650 REIT
Major balance-sheet lender 3650 REIT has originated a $31 million loan for the construction of a mixed-use project in Houston. The term for the loan on 4411 San Felipe Street is 30 months, the company...
View ArticleBronx Affordable Housing Complex Breaks Ground With $78M in Financing
B&B Urban and L+M Development Partners have secured $78.05 million in financing to start construction on Williamsbridge Gardens, a 170-unit, affordable rental housing complex in the northeastern...
View ArticleLender Might Take Over Troubled Hilton Times Square
It looks like 2020 will end with another bit of bad news for New York City hospitality. The lender behind a loan for the shuttered Hilton Times Square, which announced this fall that it was closing...
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Life Sciences Has Been a Real Shot in the Arm for Commercial Real Estate
In early December, real estate investment firm Clarion Partners closed on a 70 percent purchase of a life sciences portfolio in Seattle from an affiliate of Alexandria Real Estate Equities, a prominent...
View ArticleCushman & Wakefield to Consolidate Lower Manhattan, Brooklyn Offices
Cushman & Wakefield, one of the world’s largest commercial real estate services firms, plans to consolidate into a single location its Lower Manhattan office at One World Trade Center and its...
View ArticleNewmark Taps Bridgewater Exec as CEO of Its Global Corporate Services
Newmark has named Richard Bertasi as chief executive officer of its global corporate services (GCS) business, a move that the commercial real estate services firm said will aid its expansion plans....
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Key Northeast Distribution Corridor Experiences Record Growth Amid COVID
Want more proof of just how much the coronavirus pandemic has affected the industrial sector? New data on leasing along the densely populated I-81/I-78 corridor from Maryland to New York City shows...
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