GPARENCY News: Your hub for commercial real estate updates. Stay informed with curated headlines, and summaries crafted by ChatGPT. Stay ahead of the industry.

Learn more or need assistance? Contact us now

Big Tech rekindles Austin romance

about 16 hours ago
Nvidia potentially leasing office space in Austin signals a renewed interest from the tech sector, while Tony Parker's luxury mansion with a Nandos restaurant is being marketed by a Twitch streamer, and a data center proposal in Dallas faces rejection.

Pasadena Office Tower loses more than half its value in a decade, worth less than debt tied to it

about 16 hours ago
Los Angeles was hit with financial distress including plummeting property values, high vacancies, and canceled federal office leases due to various issues impacting the real estate market.

For real estate, pups, parties and pet projects define this Hamptons summer

about 16 hours ago
The article discusses the influx of businesses and pets in the Hamptons, as well as the controversy surrounding the potential reopening of the Maidstone Gun Club.

Venture capitalist sues over damage to gold-leaf wallpaper

about 18 hours ago
Michael Loeb, venture capitalist, is suing his neighbor over alleged water damage to his townhouse on 41 East 72nd Street, seeking reimbursement for over $180,000 in repair costs.

NYC’s top deals: Michael Milstein pays $20M for UES co-op

about 19 hours ago
On Friday, July 11, there were 224 deals totaling $342 million in New York City, with top residential sales including a $20 million co-op on the Upper East Side and a commercial sale in East Williamsburg for $24.2 million.

The Daily Dirt: To double down or reinvent in the mayoral race?

about 19 hours ago
The article discusses a new super PAC forming to raise funds to oppose Zohran Mamdani, the Democratic mayoral nominee, despite the potential flaws in their approach.

Newsom: Eaton Fire utility lawsuits could stretch already “stressed” California Wildfire Fund

about 20 hours ago
Governor Newsom discusses potential strain on California Wildfire Fund, Mayor Bass signs executive directive on immigration enforcement, and DTLA multifamily occupancy remains high despite commercial challenges.

DTLA’s One California Plaza value plummets 74%, lands in foreclosure

1 day ago
One California Plaza in Downtown Los Angeles is in foreclosure after facing high vacancies and tenant departures, with its appraised value significantly reduced below its outstanding debt.

Amancio Ortega’s Ponte Gadea buying Sabadell Financial Center in Miami’s Brickell for $275M

1 day ago
Amancio Ortega's Ponte Gadea is poised to acquire the Sabadell Financial Center in Miami's Brickell for approximately $275 million, potentially marking the biggest office sale in South Florida this year.

Judge rejects REBNY’s latest request to halt FARE Act

1 day ago
A federal judge denied REBNY's request to halt New York City's FARE Act requiring landlords to pay broker fees while its appeal is pending, stating that the group has not shown a strong likelihood of success.

Los Angeles city planners give blessing to DTLA mixed-use complex

1 day ago
The Los Angeles City Planning Commission has approved Jade Enterprises' proposal for the South Park Towers project in Downtown Los Angeles, featuring a hotel, residential units, and commercial space.

Archdiocese enlists Live Nation for historic Buenos Aires venue renovation

1 day ago
Luna Park, a historic stadium in Buenos Aires owned by the Catholic Church, is set to undergo a $34 million renovation led by DF Entertainment and Live Nation, with the goal of modernizing the venue while preserving its historic character.

New Jersey real estate influencer faces federal fraud charges

1 day ago
New Jersey real estate influencer Cesar Pina is facing federal charges for running a Ponzi-like scheme, laundering drug money, and bribing a local official.

Longpoint picks up grocery-anchored shopping center for $34M

1 day ago
Longpoint acquired a grocery-anchored shopping center in Miramar for $34 million, adding to their recent activity in South Florida's industrial and retail markets.

JLL taps Stream exec to straddle San Antonio, Austin divide

1 day ago
JLL appoints Lee McKenna to lead health care real estate operations in Central and South Texas, highlighting Texas expansion and coordination between Austin and San Antonio markets.

Lender alleges Chetrit Group not paying rent at HQ, endangering loan

1 day ago
Developers face potential foreclosure on Garment District office buildings due to unpaid rent and electricity bills.

Loop landmarks tumble to market as apartment plays

1 day ago
Two Loop buildings, 332 South Michigan Avenue and 401 South State Street, are up for sale, offering prominent apartment conversion opportunities due to financial challenges faced by their current owners.

Compass opens up its private inventory — and rolls out its own set of rules

1 day ago
Compass is sharing its private listings with other brokerages and MLSes under certain conditions to legitimize its marketing approach, including not complying with NAR's Clear Cooperation Policy and filing a lawsuit against Zillow over the "Zillow Ban."

Horse racing stable owner Richard Templer sells waterfront Boca Raton mansion for $19M

1 day ago
Thoroughbred stable owner Richard Templer and his wife sold their Boca Raton waterfront home for $18.7 million, then purchased a larger mansion for $28.5 million last year.

Judge approves Grant Cardone, Penn-Florida $235M 101 Via Mizner purchase

1 day ago
A U.S. bankruptcy judge approved the $235 million sale of 101 Via Mizner in Boca Raton to a joint venture between Penn-Florida Companies and Cardone Capital, with plans to convert the distressed apartment building into condos generating potentially $400 million in sales.

Biotech giant Genentech plans $5B redesign of South SF campus

1 day ago
Genentech is planning a $3-$5 billion revamp of its South San Francisco headquarters, including 1 million square feet of new labs in the first phase, to modernize facilities and stay competitive in the biotech industry.

Powerhouse Philippines retail developer continues push beyond Manila metro market

1 day ago
SM Prime Holdings is expanding its commercial property portfolio with a new office development, The Core Tower complex, in Santa Rosa, Laguna, outside of Metro Manila, targeting business process outsourcing, technology, and professional services firms.

Hillwood exec reps real estate in Dallas Regional Chamber CEO search

1 day ago
The Dallas Regional Chamber is searching for a new CEO with Darcy Anderson representing commercial real estate on the selection committee and set to serve as board chair next year.

Post Brothers D.C. Office-to-Resi Project Heads to Second Foreclosure Auction

1 day ago
Post Brothers loses grip on Washington, D.C., office-to-residential conversion project for second time after foreclosure notice filed.

Wells Fargo drops Bilt Rewards

1 day ago
Wells Fargo ends credit card partnership with Bilt Rewards early, reportedly losing $10 million a month due to cardholders paying off rent quickly instead of carrying balances.

Can Bungalow Belt beat mayor, alderman again on ADUs?

1 day ago
Chicago is considering legalizing accessory dwelling units (ADUs) citywide to reshape residential density, sparking political tensions as some fear it could accelerate gentrification and reduce parking availability.

Värde Partners Lends $97M on Hudson Yards Luxury Rental

1 day ago
Värde Partners provides $96.5 million loan for luxury multifamily property in Hudson Yards named after late philanthropist Lewis Katz.

Cushman & Wakefield Hires Randy Abend as Executive Managing Director in NYC

1 day ago
Randy Abend joins Cushman & Wakefield as executive managing director, focusing on tenant representation and agency client services in the Manhattan office market after 23 years at JLL.

Related Cos’ delayed One Lady Bird Lake clears key approval

1 day ago
Related Companies' One Lady Bird Lake tower project in Austin, previously stalled, is moving forward with plans for a residential tower featuring 298 units and ground-floor retail after receiving site plan approval.

Gary Barnett doubles down at 655 Madison

1 day ago
Extell Development, led by Gary Barnett, filed a rezoning application to build a 74-story tower at 655 Madison Avenue, doubling the height of the original plans and offering subway station improvements in exchange for additional space.

IBT Group scores $30M for Southwest Side life-science hub

1 day ago
Chicago approved over $30 million in tax increment financing for IBT Group's plan to redevelop a 6.5-acre site in McKinley Park's Central Manufacturing District for a $186 million mixed-use project that includes office and laboratory space, residential units, a rooftop garden, and a retail center.

Terra Signs Two New Deals in Office Project Near Miami

1 day ago
Development firm Terra secured office leases with Legacy Wealth Advisors and NewCo Capital Group for space at The Well Bay Harbor Islands, a new wellness-driven mixed-use project in Bay Harbor Islands, Fla.

Crescent Heights Applies to Convert Luxe L.A. Apartments to Condos

1 day ago
Miami-based developer Crescent Heights is planning the largest condo conversion in Los Angeles in decades, aiming to convert Ten Thousand, a luxury apartment building in Century City, into condos.

One Housing Nonprofit Buys Five Bronx Lots From Another

1 day ago
MBD Community Housing Corporation sells five buildings in the Bronx to a fellow housing nonprofit for $32.3 million.

Scott Everett’s S2 Capital raises $343M for second value-add fund

1 day ago
Scott Everett’s S2 Capital raised $343 million for its second value-add fund, with two-thirds going towards distressed assets and 60 percent already invested in 14 properties, following a recent foreclosure scare.

Japanese Plushy Concept to Open in Former Mansion at 313 Fifth Avenue

1 day ago
Japanese plushie-based experience concept Gatcha is opening its first Manhattan location in a Fifth Avenue mansion, after signing a 15,400-square-foot lease.

Orion dismisses buyout offer

1 day ago
Orion Properties rejects $126 million buyout offer from Kawa Capital Management, citing concerns over federal government office holdings and a previous drop in stock price.

Cold Stone Creamery to Open 2K-SF Ice Cream Shop in Greenpoint

1 day ago
Greenpoint, Brooklyn is getting a new Cold Stone Creamery location at 210 Greenpoint Avenue, part of a newly completed residential development.

International real estate buyers make way back to Bay Area

1 day ago
International buyers, particularly from Asia, are showing increased interest in Bay Area real estate, driven by proximity to good schools, the AI boom, and a more stable U.S. real estate market.

Milstein heir buys $20M Park Avenue penthouse

1 day ago
Michael Milstein, son of Howard Milstein, paid $20 million for a penthouse in NYC with his wife Claudia at 885 Park Avenue, which had previously been listed for $35 million.

Residential Movers & Shakers: Brian Sperry shuffles from Coldwell Banker to Compass

1 day ago
Top real estate agents Brian Sperry and his team returned to Compass from Coldwell Banker Realty, while significant agent moves include Ryan Murphy rejoining Westside Estate Agency and Damon Nazari and Susie Aguirre moving to Compass.

NYC’s top builders see projects shrink, permits plummet

1 day ago
New York City's top builders are constructing fewer and smaller projects, with total estimated square footage decreasing by 13.9% from the previous year.

Yamal Yidios’ Ytech proposes 113-unit condo tower in Brickell

1 day ago
Developer Yamal Yidios proposes a 54-story, 113-unit condo tower in Brickell amidst ongoing residential development in the area.

Jackson Heights bowling alley targeted for 276-unit project

1 day ago
Cord Meyer Development and the Variety Boys and Girls Club of Queens applied to rezone in Jackson Heights to build a 13-story mixed-use project with affordable housing.

Silver Creek lands $71M for distressed Sunset Strip mixed-use development

1 day ago
Silver Creek Development secured a $71 million loan to revive its 8850 Sunset mixed-use project on the Sunset Strip, which includes a hotel, apartments, and restaurant/bar space, with construction expected to begin in October of next year.

9M sf Related development in Santa Clara pivots from offices to industrial

1 day ago
Related Companies received approval to replace 4 million square feet of office space with industrial space at its Santa Clara development, reflecting the struggling Bay Area office market and the demand for mixed-use environments.

Developers propose 140-unit apartment building near Miami River

1 day ago
Developers are proposing a 140-unit apartment building in Miami's Lummus Park Historic District near the Miami River, with the Miami Urban Development Review Board set to vote on the project next week.

Blue Owl Capital Supplies $66M for Texas Data Center Refi

1 day ago
AGC Equity Partners secures $65.7 million loan to refinance San Antonio data center with Blue Owl Capital.

Hamptons home market started the summer on the rise

2 days ago
Second quarter home sales in the Hamptons increased by 15 percent year-over-year with a steady median sale price of nearly $1.9 million.

NYC’s top deals: Central Park Tower unit sells for $15M

2 days ago
New York City recorded 180 deals totaling about $409 million on July 10, with the top residential sale being a unit at Central Park Tower and the priciest commercial sale in the Bronx.

Des Plaines mobile home park trades for $52M amid multifamily rush

2 days ago
A 600-lot mobile home park in Des Plaines, Oasis Mobile Home Park, was sold for $52 million last month to Ravinia Communities, supported by a loan from Berkardia, as Chicago's multifamily market shows increased activity.

The Daily Dirt: Communication breakdown makes life hell for landlord

2 days ago
The article discusses the challenges faced by a frustrated building owner in Manhattan, highlighting the problems in the city's real estate industry.

CMBS issuance up so far this year

2 days ago
Commercial mortgage-backed securities issuance from private lenders increased significantly in the first half of 2025, reaching nearly $60 billion, but delinquency rates also rose, particularly in multifamily- and lodging-backed loans.

Ballast pays $26M for rare rent-controlled portfolio in Nob Hill

2 days ago
Ballast Investments purchased two rent-controlled multifamily buildings in Nob Hill, San Francisco for $25.9 million, receiving strong buyer confidence despite new seismic retrofit ordinances.

Fullerton Metrocenter sells for $118.5M

2 days ago
Mark Moshayedi's Space Investment Partners purchased the Fullerton Metrocenter for $118.5 million from Kite Realty Group, making it the priciest retail deal in Orange County so far this year.

Palisades Tahoe, environmental groups reach settlement after decade-long tiff

2 days ago
After a 14-year dispute, Palisades Tahoe, the League to Save Lake Tahoe, and Sierra Watch have reached a settlement that significantly reduces the proposed expansion of the ski resort.

Charles Cohen’s 220-foot megayacht detained in Italy

2 days ago
Fortress Investment Group has seized Charles Cohen's $48 million megayacht in Italy due to his failure to pay a $187 million court judgment, escalating their legal battle.

Rabsky sells Fort Greene multifamily development for $210M

2 days ago
Fetner Properties, MCB Real Estate, and Farallon Capital acquire a 463-unit Fort Greene multifamily development at 240 Willoughby Street for $209.5 million, with 147 affordable housing units.

Geosam’s suburban megaproject gets greenlight, needs funding

2 days ago
Henry County commissioners approved a rezoning and development agreement for "The Grove," a 1,278-acre master-planned community near Hampton, metro Atlanta, featuring over 6,100 residential units and various commercial spaces.

Newsom commits $101M of state money for new affordable housing

2 days ago
California is committing $101 million to build affordable rental housing in areas affected by the Los Angeles wildfires, with projects prioritizing households displaced receiving preference as long as the units remain affordable for at least 55 years.