The article discusses real estate contributions to California gubernatorial candidates, highlighting donors from multifamily and office property sectors. It covers recent financial moves including a $60 million loan for an office-to-residential conversion in Los Angeles' Koreatown, the return of creative office properties in Santa Monica to lenders, and leadership changes at industrial REIT Rexford. The piece also previews upcoming industry events in Las Vegas and a key hearing for Oceanwide Plaza.

The article discusses the challenges and changes in Downtown Fort Worth's commercial real estate, focusing on the management of Sundance Square by Sasha and Ed Bass, which has faced criticism and high retail vacancy rates. It also highlights the impact of potential legislation on built-to-rent developments in Texas, the planned $650 million industrial project by Blue Origin in Hutto, Texas, and a significant office lease by Glenn Beck's nonprofit in Irving, Texas. These developments reflect ongoing shifts in retail, industrial, and office property markets in Texas.

The article discusses the financial and political complexities involved in the development of Monitor Point, a 1,150-unit housing project on the Greenpoint waterfront in Brooklyn, New York. It highlights the necessity for developers to secure investor returns to fund projects, with specific yield requirements noted by Brooklyn Borough President Antonio Reynoso. The project includes a mix of market-rate and affordable housing units, with debates over the percentage of affordable units and income levels targeted. The article also explains the unique financial arrangements due to the use of public land owned by the MTA, the role of local politicians in negotiating public benefits, and the potential outcomes if the rezoning application is rejected.

New York City lawmakers are considering a new tax on residential homes purchased with cash for $1 million or more, adding a 1 percent levy to help address the city's budget deficit. This proposal, alongside an existing pied-à-terre tax on second homes valued at $5 million or more, has caused concern and confusion among industry professionals who fear it may reduce market activity and complicate transactions. The article highlights the high share of cash sales in NYC residential real estate and discusses potential impacts on buyers, sellers, and developers. Additionally, a notable $29 million condo sale in NYC is mentioned, illustrating the high-end residential market activity.

The article discusses New York Governor Kathy Hochul's proposed two-step pied-à-terre tax plan targeting condo and co-op second homes valued at $1 million or more, with a future plan to develop a new valuation metric. The proposal faces criticism for its complexity and unclear implementation, highlighting challenges in accurately assessing property values. Additionally, the article notes recent high-value residential and commercial real estate transactions in New York City, including a $13.3 million Brooklyn Heights townhome sale and a $500 million office development site purchase on Park Avenue.

In New York City, significant commercial and residential real estate transactions occurred, including a $451 million sale of a development site at 405-407 Park Avenue, multiple townhouse sales in Brooklyn Heights, and the acquisition of office condo units in the Garment District. Residential foreclosures are rising sharply in Sun Belt metros, particularly in Austin, Texas, indicating affordability challenges for homeowners in booming cities.

Gresham James Hotels acquired the 128-key Home2 Suites by Hilton San Antonio Riverwalk hotel in Texas, planning renovations to attract more corporate and leisure travelers despite a recent decline in San Antonio's hotel revenue and occupancy. The local hotel market faces challenges with a 7% revenue drop in 2025 and foreclosure activity, including lenders taking over the Thompson San Antonio property. Other developments include IBC Bank's plan to convert an office building into a 300-key hotel and the recent opening of the Monarch Hotel. Gresham James primarily operates extended-stay hotels in North Texas, with most properties in the Dallas-Fort Worth area.

The article discusses the affordability crisis impacting young adults aged 25 to 34 in Southern California, particularly in the Los Angeles metro area, where homeownership rates are the lowest among major U.S. metros. High home prices, mortgage rates, and inflation are pushing younger buyers out of ownership and into renting or living with family. Median rents in California are significantly above the national average, and down payment requirements remain a major barrier. Family assistance and state-backed programs are crucial for first-time buyers. Despite slight recent declines, home prices in Los Angeles and Orange County remain historically high.

Oakland's commercial real estate market is facing significant challenges, with multiple office properties being seized by lenders due to defaults and foreclosures. Edgewater Park Plaza, a large office complex, was recently foreclosed and valued at a steep discount, reflecting the broader decline in office property values in the Bay Area amid weak leasing demand and remote work trends. Several other office buildings in Oakland have also been taken over by lenders this year, indicating ongoing distress in the office sector.

The article discusses the debate over proposed amendments to Los Angeles' Measure ULA, a real estate transaction tax aimed at funding affordable housing. A study by the Los Angeles Housing Department estimates that proposed carveouts for new and remodeled multifamily, commercial, and mixed-use properties, as well as disaster-impacted single-family homes, could reduce tax revenue by up to 35%, or $177 million. The ad hoc committee reviewing the measure faces conflicting data from various groups, with some advocating for exemptions to ease development costs and others warning that such changes would undermine affordable housing funding. The discussion also touched on the potential for a municipal bond to stabilize revenue, though legal questions remain. The debate highlights tensions between preserving revenue streams and supporting real estate development in Los Angeles.

New York State lawmakers are negotiating a $268 billion budget that includes significant real estate-related proposals such as a new pied-à-terre tax targeting luxury condos, co-ops, and one- to three-family homes in New York City, a 1% surcharge on all-cash home purchases over $1 million, and reforms to the State Environmental Quality Review Act to expedite housing projects. Additionally, the J-51 property tax abatement program for multifamily buildings, condos, and co-ops is set for renewal and expansion to support renovations and climate retrofits. These measures aim to generate revenue and accelerate housing development amid ongoing budget challenges.

The Museum of Illusions has leased 14,300 square feet at 735 Market Street in downtown San Francisco, filling a vacant retail space and contributing to the area's retail comeback. The museum, part of a global chain expanding aggressively in the U.S., plans to open in 2027 after significant tenant improvements. This move is part of a broader revitalization of the Market Street corridor and Union Square neighborhood, which has seen increased foot traffic and decreased vacancies year over year.

Baird & Warner, Chicago's largest independent real estate brokerage founded in 1855, announced leadership changes to ensure the company's continued family ownership and independence. Lucy Baird, sixth generation of the Baird family, was named chief stewardship officer and vice chair of the board, while Laura Ellis was promoted to chief revenue officer overseeing all sales-related business lines including mortgage and title operations. The firm emphasizes integrated services to enhance client experience and maintain agent centrality in transactions.

Cypress Equity Investments secured a $170 million construction loan to advance two mixed-use apartment projects in Santa Monica, California, featuring residential units above commercial spaces and multi-level parking garages. These developments are part of Santa Monica's off-site affordable housing program and contribute to a total of 646 apartments in the area. Despite a recent decline in rents, Santa Monica remains a high-priced submarket in Southern California, attracting other developers like Trammell Crow and 1655 Property to pursue large multifamily projects nearby.

A $647.5 million CMBS loan secured by a 99-year ground lease on Maefield Development's 20 Times Square property in New York has returned to special servicing after missing its May 2026 maturity date. The loan is backed by revenue from a 454-room Edition by Marriott hotel and four floors of largely vacant retail space, including a former NFL Experience store. The hotel was closed during the COVID-19 pandemic and reopened in June 2021, while the retail space previously had the NFL as an anchor tenant.

A group of Miami residents has filed a lawsuit to stop the development of a Trump presidential library on a 2.6-acre site in downtown Miami, Florida, alleging the land transfer to Trump's foundation is unconstitutional and violates the Emoluments Clause. The lawsuit claims the project, which may include a hotel, would harm neighborhood living conditions and generate profit for Trump. The site, valued between $67 million and $300 million, is located near the Freedom Tower and Kaseya Center. Previous legal challenges related to the land transfer have been dismissed or overturned due to procedural issues.

Foreclosure rates are rising significantly in key Sun Belt cities such as Austin, Texas; Raleigh, North Carolina; and Jacksonville, Florida, driven by affordability challenges, increased insurance and property taxes, and the expiration of pandemic-era relief programs. The increase is particularly notable among FHA borrowers who tend to have lower down payments and financial reserves. Nationally, foreclosure rates are returning to more typical levels after being suppressed during the pandemic, with the overall U.S. foreclosure rate rising 18 percent year over year in April 2025. The outlook depends on employment stability, as a stable job market may prevent a sharp rise in mortgage delinquencies and defaults.

Jose Canero sold a terminated 25-unit condo building in Miami's Coconut Grove neighborhood for $45.5 million to El-Ad National Properties, which plans to redevelop the property. The building, originally constructed in 1963, currently functions as a rental and sits on about half an acre. Coconut Grove is experiencing significant luxury development activity, including large construction loans and high-profile acquisitions. El-Ad National Properties is also active in South Florida with other condo and mixed-use projects.

Rishi Kapoor pleaded guilty to money laundering and payroll tax evasion charges related to misappropriating $85 million from investors in failed real estate projects managed by his firm Location Ventures in Florida. Kapoor admitted to unauthorized personal payments and misuse of buyer deposits from condo developments in Miami-Dade County, including Coral Gables, Coconut Grove, and Miami Beach. Following the collapse of Location Ventures, a court-appointed receiver is selling unfinished development sites to repay creditors. Kapoor faces over 10 years in prison, and his co-conspirator was also charged for concealing payroll tax liabilities.

National Core secured $103.6 million in tax-exempt bond financing to renovate the Hyatt Regency hotel in Ontario, California. The redevelopment includes reducing room count, redesigning the lobby, adding food and beverage options, upgrading meeting spaces, fitness center, and pool area. The hotel is strategically located near Ontario International Airport and the upcoming Brightline West high-speed rail terminal. The financing combines hotel revenue bonds and commercial property-assessed clean energy bonds, supporting a transformative hospitality investment.

Flagg Family Capital, owned by the family of broker Josh Flagg, is looking to sell a renovated retail property in Soho, New York, for just under $12 million. The property includes two floors and a basement with a 10-year lease to fashion house Magda Butrym starting in 2026. The firm is shifting focus to prime locations like downtown New York and Miami, moving away from shopping centers and office buildings. Additionally, Flagg purchased a residential property in Miami with plans to renovate and sell it.

The article highlights DuWarren Gibson's involvement in mentoring young talent in Chicago's commercial real estate industry through the Eisenberg Real Estate Challenge, a competition that helps students develop real-world project proposals and network with industry professionals. The challenge, held on a site within The 78 megadevelopment in Chicago, has grown significantly and serves as a key platform for students to gain experience and potentially secure employment in a competitive job market. Gibson emphasizes the importance of relationship-based hiring and diverse teamwork in preparing for a career in CRE.

The Rabsky Group purchased a troubled development site at 267 Broadway in Tribeca, New York, for $30 million, planning a luxury mixed-use condominium project. The site had been on the market since 2018 and faced financial difficulties including a mortgage default and lender collapse. The acquisition expands Rabsky's presence in Manhattan, complementing their other nearby development projects.

The Ritz-Carlton Residences in Uptown Houston have surpassed $203 million in sales before construction begins, featuring a 45-story tower with 112 branded condos and a 156-key hotel. The penthouse sold for $30 million, potentially the highest condo price in Texas. The development includes extensive amenities for residents and hotel guests, with completion targeted for fall 2029. Houston's luxury condo market is growing, with other projects like the St. Regis and Chaucer also contributing to the upscale residential landscape.

The article discusses the Chinese residential real estate market's shift from a developer-driven new development model to a transaction-based market focused on existing homes. It highlights the challenges faced by new developments due to financing constraints and buyer wariness, leading to a preference for resale properties. The market is experiencing a price gap where resale homes often sell at discounts compared to new builds, and policy focus is shifting towards stabilizing prices and clearing inventory rather than stimulating new construction. This transition reflects a broader change in housing market dynamics and economic growth drivers in China.

The article recaps highlights from The Real Deal's NYC Real Estate Forum, featuring key industry figures discussing topics such as New York City's real estate market, regulatory reform, landlord relations, and strategic site selection for developments. Notable speakers included executives from Related Companies, Corcoran, Brown Harris Stevens, Vornado, and city officials, emphasizing New York City's central role in real estate and ongoing challenges in housing policy and transparency.

The Towers at Williams Square, a 1.4 million square foot Class-A office campus in Irving, Texas, has been sold to a joint venture of Vanderbilt Office Properties, Hillwood Urban, and TriPost Capital Partners. The iconic office campus, developed in the 1980s and recently renovated with over $30 million invested, serves as headquarters for major tenants including Caterpillar Inc. The property benefits from its prime location in the Dallas-Fort Worth market, strong tenant roster, and ongoing flight-to-quality trends in the office sector, with rising rents and growing tenant activity expected to continue through 2026.

Construction has begun on the first phase of the Konterra Town Center East, a large mixed-use development in Prince George’s County, Maryland. The project includes over 200 townhomes, with plans for extensive retail, office space, hotel rooms, and thousands of homes and apartments. The development spans 400 acres within a 2,000-acre site that has been transformed from a former mining area, featuring infrastructure improvements and a planned 20-megawatt data center. The developer, Gould Property Co., aims to build high-quality properties to retain ownership rather than sell.

Development has begun on the Konterra Town Center East, a 400-acre mixed-use district in Prince George's County, Maryland, led by Gould Property Co. The project includes over 200 townhomes, 1.5 million square feet of retail, 3.8 million square feet of office space, 600 hotel rooms, and 4,500 homes and apartments. The larger 2,000-acre site also features parks, trails, and a planned 20-megawatt data center. The company emphasizes quality and long-term ownership of the properties it builds.

Development has begun on the Konterra Town Center East, a 400-acre mixed-use district in Prince George's County, Maryland, led by Gould Property Co. The project includes over 200 townhomes, 1.5 million square feet of retail, 3.8 million square feet of office space, 600 hotel rooms, and 4,500 homes and apartments. The larger 2,000-acre site also features infrastructure improvements, single-family homes, flex office and distribution centers, and a planned 20-megawatt data center. The company plans to retain ownership of the properties and focus on high-quality construction.

Construction has begun on the first phase of the Konterra Town Center East, a large mixed-use development in Prince George's County, Maryland. The project includes over 200 townhomes and plans for extensive retail, office space, hotel rooms, and thousands of homes and apartments. The development spans 400 acres within a 2,000-acre site that has been transformed from a former mining area, with infrastructure being built from scratch. The developer, Gould Property Co., aims to build high-quality properties that it will retain ownership of, including a planned 20-megawatt data center.

Construction has begun on the first phase of the Konterra Town Center East, a large mixed-use development in Prince George's County, Maryland. The project includes over 200 townhomes, with plans for extensive retail, office space, hotel rooms, and thousands of homes and apartments. The development spans 400 acres within a 2,000-acre site that has been transformed from a former mining area, with infrastructure being built from scratch. The developer, Gould Property Co., aims to build high-quality properties that it will retain ownership of, including a planned 20-megawatt data center.

The Bay Area, particularly the South Bay region including Sunnyvale, Santa Clara, and San Jose, is becoming a major hub for data center investment and development driven by the artificial intelligence boom. Brookfield Properties recently acquired a data center in Sunnyvale for $90.3 million, adding to its growing portfolio of data centers across North America. Other developers like Prologis, Goodman Group, and Menlo Equities are also pivoting to data center projects to meet increasing demand, supported by infrastructure upgrades from Pacific Gas and Electric Company. San Jose is noted as a hotspot for new data center construction, reinforcing its role as a key location for AI-serving infrastructure.

Texas is experiencing a rapid increase in data center development, particularly in Caldwell County within the Austin-San Antonio corridor, with at least four data centers and $20 billion in investment expected over the next five years. Major companies like Tract, Edged Energy, Prime Data Centers, PowerHouse Data Centers, and Amazon Data Services are expanding operations, fueling concerns among local residents about water and power usage. Despite local opposition, the state legislature shows little indication of imposing regulations on this growth, which is straining Texas's electrical grid.

The article discusses the enforcement of Nantucket's formula business bylaw, which restricts chain stores with 10 or more locations from operating in the downtown district. Roller Rabbit, a pajama boutique and lifestyle brand, faced closure last summer due to this law but has since reopened by modifying its store name, design, and product mix to comply with the regulations. This situation raises concerns among locals about potential loopholes that chains might exploit to bypass the bylaw, impacting the character of Nantucket's downtown business environment.

Amazon is moving forward with plans to open a unique Costco-style grocery and merchandise store in Oak Brook, Illinois, which requires rezoning from office to retail and involves demolishing seven office buildings. The 225,000-square-foot store is expected to be completed by October 2028. Despite previous closures of Amazon Fresh, Amazon Go, and other physical stores, Amazon is committed to expanding its brick-and-mortar presence, including another large store planned in Orland Park, Illinois, in 2027. The company continues to operate its Whole Foods brand with a strong presence in Chicago.

Jose Canero's firm completed a profitable bulk purchase and flip of a 25-unit condo complex in Coconut Grove, Miami, Florida, selling it to El-Ad National Properties for $45.5 million after acquiring it for $17.3 million a year earlier. The property, Chateau Grove, is currently operated as apartment rentals but has redevelopment potential. Canero also partnered with 8K Capital to acquire a 66-unit condominium nearby, planning to convert it into rentals. Additionally, BH Group and Mast Capital acquired full ownership of another 39-unit condo building in the area. The article highlights ongoing luxury condo developments and sales activity by El-Ad and other developers in South Florida, particularly in Coconut Grove and Boca Raton.

Tavros Capital is advancing development at 250 Water Street in New York's Seaport District, including a new five-story health and wellness facility leased to Chelsea Piers Fitness. The project will feature 600 apartments, with 25% affordable units, commercial and outdoor spaces, and 35,000 square feet of retail space. The site has faced legal challenges related to building approvals and air rights deals, but recent court decisions have allowed construction to proceed.

Michael Hirschfeld and his son Brian Hirschfeld, experienced retail brokers with a strong background in luxury and high-street retail leasing, have joined Colliers' New York City retail services team. They bring decades of expertise, including significant work in the Las Vegas retail market, and aim to enhance Colliers' client services in New York and beyond.

Michael Hirschfeld and his son Brian Hirschfeld have joined Colliers' New York City office to lead its retail services division, bringing decades of experience in luxury and high-street retail leasing. They previously worked at JLL and have significant expertise in the Las Vegas retail market, including leasing about 1 million square feet along the Strip. Their addition is expected to strengthen Colliers' retail capabilities in New York and beyond.

SakeBrooklyn has leased 6,500 square feet for a sake brewery and taproom at Society Brooklyn, a new 605,000-square-foot multifamily and mixed-use development in Gowanus, Brooklyn, New York. The project includes 517 apartments with a mix of market-rate and affordable housing, retail spaces, and a public plaza along the Gowanus Canal. The brewery, expected to open in early 2027, will feature a public taproom and brewing operation, contributing to the neighborhood's revitalization and retail growth.

CIM Group is launching Permanent Power Co., a national power platform focused on investing in rural qualified opportunity zones and consolidating solar generation, energy storage, and transmission infrastructure projects. The company is advancing two solar projects in California's San Joaquin Valley and has secured $400 million in financing to support growth. CIM Group also finances large data centers, including Novva Data Centers' Salt Lake City project in Utah, which received $2 billion in financing. The development of power infrastructure is critical to support the growing data center industry amid aging grids and infrastructure challenges.

Fairfield Properties, a major multifamily rental firm on Long Island, is being divided between family members Michael and Gary Broxmeyer into two independent family offices. The split will not affect tenants or employees. Fairfield owns over 200 properties with more than 16,000 units, including age-restricted and luxury townhouse projects. Recent acquisitions include large rental complexes in Suffolk County. The company faced legal issues in early 2023 related to withholding tenant security deposits.

California Governor Gavin Newsom has proposed a $100 million state fund to assist wildfire victims in Los Angeles with rebuilding homes where insurance payouts are insufficient. The fund would provide loan-loss guarantees to reduce lender risk and make construction loans more accessible, as well as help homeowners buy down interest rates. This initiative targets areas affected by the Palisades and Eaton fires, addressing the significant gap between insurance coverage and actual rebuilding costs. The proposal is part of the 2026-27 budget plan and aims to support long-term recovery efforts for wildfire survivors.

Peter Baytarian developed Nautilus 220, a luxury condo project in Lake Park, Florida, which significantly raised local real estate prices with 90% of its 330 units sold at high price points. Despite challenges like rezoning delays, COVID-19 supply chain issues, and labor shortages, the project succeeded by offering resort-style amenities and attracting buyers seeking a mainland luxury lifestyle. Baytarian is now planning a similar luxury condo tower called Oculina in nearby Riviera Beach, Florida, with nearly 400 units and comparable pricing and amenities.

The House of Representatives released an amended version of the Senate's 21st Century ROAD to Housing Act, removing a controversial provision that required built-to-rent homes to be sold within seven years, which had previously hindered investment in the sector. While restrictions on institutional investors in the single-family housing market remain, the definition was narrowed to exclude manufactured housing and renovated homes. The bill now awaits a floor vote and potential reconciliation with the Senate, which still supports the seven-year sale provision.

Tishman Speyer is seeking to sell their 357-unit Union West apartment building in Chicago's Fulton Market after three years of ownership. The property is mostly leased, including a fully leased retail portion. Chicago's multifamily market is active, with significant investments and conversions of office buildings into apartments, driven by strong demand. The Fulton Market area continues to grow with high-end retail, apartment, and office developments despite the pandemic.

The First Real Estate Investment Trust of New Jersey (FREIT), established in 1961, has announced a plan for voluntary liquidation, deciding to sell off its portfolio of apartment complexes, shopping centers, and land primarily in New Jersey and a residential property in New York. The liquidation aims to return capital to stockholders, with payments expected to exceed the recent stock price. This move reflects a broader trend among publicly traded real estate companies opting to liquidate or merge rather than reinvest, amid market undervaluation and strong private capital growth.

BGO has terminated its nontraded Industrial REIT launched in 2023, which held a portfolio of industrial properties primarily in the Midwest, including markets like St. Louis, Cincinnati, Kansas City, and Chicago. Despite nearly $90 billion in assets under management, the REIT failed to attract outside investors and has faced losses and upcoming loan maturities. The industrial REIT sector has seen challenges post-pandemic, with major players managing redemption backlogs, though recent signs indicate renewed fundraising activity. BGO was fully acquired by Sun Life Financial in 2026 but continues to operate independently.

The MHL Hotel Collection, led by John Malone and partners, completed a €190M refinancing for four hotels in Ireland, including College Green Dublin, Galmont, Trinity City, and Limerick Strand. The refinancing included €50M in green finance. MHL is the second-largest Irish hotel group with 14 hotels and over 2,650 rooms. Meanwhile, Dalata Hotel Group opened the Maldron Hotel Croke Park in Dublin, its 21st hotel in the city, featuring sustainable design elements. Dalata's CEO Dermot Crowley announced his upcoming departure following the sale of the hotel brands to Scandinavian companies for €1.4B, with leadership transition plans in place.

David Martin's Terra Group and partners received approval for a 330-foot luxury condo tower in Miami Beach, Florida, replacing an older 238-unit condo building. The project includes 106 luxury condo units, underground parking, commercial space, and tropical gardens, with conditions including completing a baywalk and redeveloping a nearby hostel into a city park. Terra is also involved in other major Florida developments, including a large hotel near Miami Beach Convention Center and a waterfront property acquisition in West Palm Beach. However, Terra faces legal challenges and a recent mixed-use project was rejected by Boca Raton voters.

New York Governor Kathy Hochul has proposed a pied-à-terre tax targeting non-primary residences in New York City valued above $1 million, with rates starting at 4 percent and increasing to 6.5 percent for properties over $5 million. The tax aims to generate $500 million for the state and address budget deficits, though it will be temporary for two years until a permanent solution is reached. The proposal follows public attention on luxury property purchases and has sparked reactions from prominent real estate and business figures.

New York City’s Employee Retirement System renewed its 35,000-square-foot office lease at The Factory complex in Long Island City, Queens. The Factory, a 1.2 million-square-foot industrial building converted to office use, also secured new and renewed leases with tenants including City University of New York, United Healthcare Group, Neustadt Gallery, and Tosot. The building continues to attract a diverse tenant base with rents ranging from the high $30s to low $40s per square foot.

Global law firm Baker McKenzie has renewed and expanded its lease at the 10 Bryant Park office tower in Midtown Manhattan, New York City, increasing its space to 121,833 square feet. The firm will occupy multiple floors including the entire top floor, continuing its presence in this prime office location. The building, owned by Property & Building Corporation, also houses other major tenants such as Amazon, Novartis, and Life Time, which recently leased space for a health and wellness club. The property is noted for its central location and access to mass transit, making it a sought-after office destination.

Laura Clark became CEO of Rexford Industrial, a Los Angeles-based industrial REIT, following a succession plan possibly influenced by activist investor Elliott Investment Management. The company has shifted its capital allocation strategy to focus on selling properties and buying back shares, aiming to improve operational efficiency and shareholder value. Clark emphasized alignment of executive compensation with shareholder returns and confirmed that Rexford will remain focused on industrial properties, particularly in Southern California, despite a current market correction.

The Florida Legislature passed the Infill Redevelopment Act, which limits local governments' zoning powers by allowing developers to redevelop closed recreational sites without public hearings, targeting Miami-Dade, Broward, and Palm Beach counties. The law aims to speed up housing development but lacks affordability requirements. It follows the Live Local Act, which mandates workforce housing but faces local resistance, exemplified by the Bal Harbor dispute over a large mixed-use project. Legal challenges and state government support for developers highlight ongoing tensions between state and local control over land use.

New York legislators are considering a new 1 percent tax on all-cash home purchases over $1 million to generate $160 million in revenue for the city's budget deficit. The tax could expand statewide, affecting luxury real estate in New York City, its suburbs, the Hamptons, and the Hudson Valley. The proposal targets transactions previously exempt from mortgage recording tax and follows a planned pied-à-terre tax on second homes valued at $5 million or more. The real estate industry has expressed concerns that additional taxes may discourage home purchases and reduce overall revenue.

Thakkar Developers sold a lot in Mustang Square, a mixed-use project in Plano, Texas, to Foundry Plano LLC, which plans to build luxury office condominiums. Mustang Square is nearly fully developed, with remaining single-family home lots and a fitness center under construction. D.R. Horton purchased several homesites in the development, shifting the residential focus from townhomes to detached single-family homes. Meanwhile, Thakkar Developers face legal challenges including a tax lawsuit in New York and federal fraud charges in Texas.

Core Spaces, a Chicago-based real estate investment firm specializing in student housing and build-to-rent communities, has secured $1.64 billion in capital to close a dedicated student housing investment fund. The firm focuses on development opportunities near large public universities and has significantly expanded its portfolio to over 74,000 student housing beds with a pipeline of 53,000 additional beds, alongside managing 3,000 single-family build-to-rent homes. Core Spaces collaborates with multiple institutional capital partners to fund its growth and development in the student housing sector.

The article highlights the growing influence of women leaders in South Florida's commercial real estate industry, focusing on key figures in Miami-Dade and Palm Beach counties. It discusses their roles in office leasing, multifamily development, luxury residential sales, and new development sales, emphasizing their impact on the region's changing skylines and luxury market. Despite women comprising a significant portion of real estate agents, they remain underrepresented at the top levels of the industry.