JLL reported strong third-quarter earnings in 2026, driven by growth in office, industrial, and data center sectors, with revenue increasing 12% year-over-year to $7.3 billion and net income rising to $319.8 million. The firm is implementing a $500 million share repurchase program and has reduced its debt significantly. Despite a slight slowdown in capital markets deal-making due to interest rate hikes, JLL expects continued growth, particularly noting that U.S. multifamily properties are more affected by rising rates than other asset classes.

Alexandria Real Estate Equities entered a joint venture with KKR, which invested $475 million in Alexandria's life sciences property, Campus Point, in San Diego. KKR holds a 49% non-controlling equity interest and 28.5% indirect ownership in the research center leased to major tenants. The joint venture aims to provide capital to Alexandria amid financial challenges and a slowing life sciences market, with plans to manage lease expirations and sell non-core assets to maintain liquidity.

The New York City Council passed the Community Opportunity to Purchase Act (COPA), targeting distressed and at-risk multifamily buildings to give nonprofits and city-designated joint ventures a right of first refusal. The law aims to preserve affordable housing by enabling sales to mission-driven buyers with access to subsidies, potentially providing an exit for owners of hard-to-sell properties. While COPA affects a narrow segment of the multifamily market, it introduces execution risk and uncertainty that may impact pricing and financing. The success of COPA depends on clear implementation, funding, and qualified buyers capable of capital investment and building management.

Stark Office Suites launched Excelsior by Stark, a luxury flexible office workspace on the 14th floor of 717 Fifth Avenue in New York City. Completed in August, the 17,291-square-foot duplex space features 27 private offices, large windows with city views, and high-end finishes. The space is 60 percent leased with move-ins starting in November through January. Clients license offices with flexible terms, gaining access to amenities including a conference center, cafe, lounge, and locker rooms. The design emphasizes luxury without ostentation, created in collaboration with TPG Architecture.

DKMS, a nonprofit organization, has signed a new office lease for 15,000 square feet at 115 Broadway in Manhattan's Financial District, New York. This deal is part of over 100,000 square feet of leasing activity at the Trinity Centre complex this year, which also includes leases by MAG Partners, LG Ad Solutions, Cook Law Firm, and Perficient. The complex recently completed a tenant amenity center and is adding prebuilt office suites. Lease terms were not disclosed, but Class B office rents in the area average $51.91 per square foot.

Alexandria Real Estate Equities, a REIT specializing in life sciences facilities, reported a significant net loss in Q3 2026 despite increased leasing activity and stable occupancy rates. The company faces challenges due to a surplus of lab space and reduced scientific research funding, with substantial lease expirations expected in 2027. It is also selling some assets, including a property in Boston, Massachusetts.

The NBA Store, operated by Lids, plans to relocate from its current 15,000 square feet retail space at 545 Fifth Avenue in Midtown Manhattan to a larger location within the same area, targeting 20,000 to 25,000 square feet. The move aims to create a bigger and more inviting ground floor store, capitalizing on a record year boosted by the New York Knicks' recent NBA title. The lease at the current site expires in 2031, but the retailer seeks to secure a new location within about a year to allow for build-out preparations.

Tishman Speyer sold a 12-story, 155,000-square-foot office building at 148 Lafayette Street in SoHo, Manhattan, New York, to Shorenstein Properties for $132.5 million. The building is fully leased with office tenants including General Catalyst, Graphite, WeWork, Charlotte Tilbury, Aura Frames, and Keystone, as well as retail tenants Five Points Academy and 260 Sample Sale. The sale followed Tishman's purchase of the property in 2025 for $105.5 million, marking a profitable quick turnaround. The building, originally built in 1913 and renovated in 2007 and 2017, holds a LEED Gold certification and features long-term leases with rents ranging from $70 to $120 per square foot.

Welltower, a leading senior housing REIT based in Ohio, reported strong third-quarter financial results with a 24.6% increase in profits per share and 88% occupancy across its portfolio. The company completed 196 transactions this year, acquiring 43 senior housing properties for $2.7 billion in Q3, while divesting $2.1 billion in outpatient medical assets. Welltower focuses on selective acquisitions, particularly targeting distressed senior housing assets amid rising debt maturities in 2026. Revenue growth is driven by pricing power and luxury senior living communities, despite increased expenses related to restructuring and acquisitions. The company cautions investors about the complexities and uncertainties in the senior housing market despite positive trends.

Carmel Partners obtained a $152 million construction loan from Truist to develop Marina Shores, a 390-unit multifamily project in Long Beach, California. The development will replace an old office complex and parking lot with a six-story building featuring residential units and 5,400 square feet of ground-floor retail space. Construction began recently and is expected to complete by May 2029, contributing to the ongoing residential growth along Pacific Coast Highway.

Orange County, California's multifamily investment market is showing strong momentum with $656 million in sales through August 2026, despite a 14.8% decline in average sales price per unit. The market benefits from high occupancy rates at 96.4% and rent growth of 1.4% annually, outperforming national averages. Significant transactions include a $133 million acquisition of a 402-unit apartment community in Garden Grove. New construction is robust, with over 3,000 apartments started in 2026, primarily in Irvine, including the large Discovery Park development. The market features a mix of affordable and higher-end apartments, with rents rising in most submarkets.

Invesco reported its third-quarter 2026 financial results, showing strong year-over-year revenue growth despite slightly missing earnings estimates. The firm achieved $1.4 billion in revenue, a 16.5% increase from the previous year, and reported net income of $355.6 million. Invesco also repurchased $1.5 billion of preferred stock to reduce financial burden, expecting earnings accretion in 2027. The company highlighted significant organic growth and improved operating margins driven by diverse business operations and disciplined expense management.

North Development purchased a 0.6-acre development site in Miami's Edgewater neighborhood for $32.8 million, significantly increasing in value since 2019. The site, located near Biscayne Bay, was previously planned for a 31-story rental tower with apartments and a parking garage, but remains vacant. North Development is also working on a 35-story condo-hotel in Brickell, Miami, backed by substantial construction financing. The area's transformation into a residential hub has driven the property's appreciation.

The article discusses the growing prominence and evolving lending landscape of data centers in commercial real estate throughout 2025 and 2026. Despite macroeconomic challenges and increased political and community opposition, including New York's statewide moratorium on large data center construction, financing for data centers remains robust with significant bank loans, CMBS issuance, and private credit involvement. Lenders are becoming more selective, favoring experienced sponsors and projects with long-term leases from investment-grade tenants. The sector faces unique risks due to its operational complexity and infrastructure financing needs, but demand driven by AI and digital infrastructure growth sustains strong investment and financing momentum.

New York City implemented a rent freeze on rent-stabilized apartments starting October 1, 2026, halting rent increases despite rising landlord expenses and inflation. The freeze, championed by Mayor Zohran Mamdani, aims to make housing more affordable but has sparked legal challenges from landlords who argue the Rent Guidelines Board (RGB) manipulated data and was influenced by the administration. The city is attempting to ease landlord burdens through affordable insurance programs, but concerns remain about landlords' ability to cover debt service amid rising costs. The dispute continues in court with allegations of improper conduct and board manipulation.

Gerber Life Insurance has leased a 12,868-square-foot office space at 45 Main Street, a 12-story office building in Brooklyn's Dumbo neighborhood, New York. The space will serve as a satellite office for Gerber Life's technology teams. The building, managed by Two Trees Management, hosts other tenants such as Bjarke Ingels Group and Church Edit, and recently expanded design firm Twelve doubled its space there.

LBA Realty secured $61.5 million to refinance a 125,000-square-foot Class A office building in Sunnyvale, California, a key Silicon Valley city with limited new office space deliveries amid growing tech demand. The property, acquired by LBA Realty in 2025 after previous owners defaulted, features solar power and reflects the strong innovation market supported by a skilled workforce and venture capital investment.

Angela Gentry has been promoted to market lead for JLL in the New York tri-state region, where she will oversee growth strategy, financial performance, recruitment, and talent development. Since joining JLL in 2022, Gentry has driven significant business growth and will continue to work alongside other leaders to expand the firm's market presence.

Rockwood Capital and Midtown Equities are selling their fully leased 230,000-square-foot office building at 1 Broadway in New York to Japan's Takenaka Corporation for $170 million. The historic 12-story property, renovated in 2020 and occupied mainly by Fiserv and Citibank, was purchased by Rockwood and Midtown in 2018 for $140 million with plans to reposition it as creative office space. Takenaka is known for acquiring unique trophy properties across the U.S., including office buildings and hotels in New York, Hawaii, California, and Washington.

The article discusses Amazon's planned expansion of its same-day delivery network, dubbed Project Mercury, which aims to place over 1,000 facilities close to most U.S. Prime members to enable rapid delivery of frequently purchased items. This expansion highlights the growing importance of last-mile logistics, driving demand for small-bay warehouses and urban infill industrial spaces, which are experiencing tight vacancies and rental growth. Retailers like Walmart and Home Depot are also adapting store footprints to support delivery and pickup services, blurring lines between retail and industrial real estate. The shift is fueled by rising e-commerce sales, transportation cost pressures, and technological advancements such as AI mapping and electric delivery vehicles. The article notes that infill industrial real estate is highly sought after due to limited land availability and municipal restrictions, with significant activity in markets like Chicago, Milwaukee, Tampa, Texas, and the Midwest. Additionally, competition for industrial sites is increasing due to growth in advanced manufacturing, data centers, and autonomous vehicle infrastructure.

HqO has launched REX, an AI platform designed to integrate and optimize data and workflows across commercial real estate portfolios globally. REX consolidates building and tenant data into a single actionable record, enabling automated service requests, preventive maintenance, tenant engagement monitoring, and operational reporting. The platform aims to enhance tenant retention, reduce operating costs, and improve decision-making by providing a unified system that connects disparate building management tools. HqO also offers an AI builder team to assist clients in implementing and customizing REX within their operations.

Financial technology firm Ramp has expanded its office space at 28-40 West 23rd Street in Manhattan's Flatiron District for the third time since 2023, now occupying 460,300 square feet across multiple floors in a 12-story complex. The long-term lease expansion follows previous deals including a large sublease with Microsoft and additional expansions, reflecting strong leasing momentum and investment in Midtown South office properties. The complex features a mix of tenants and recent upgrades such as renovated lobbies and a communal roof deck.

The article discusses the booming data center industry in the United States, driven by the surge in artificial intelligence demand. It highlights record low vacancy rates, significant investment activities including a $1.4 billion ABS facility by CloudHQ, and the challenges posed by public opposition and regulatory hurdles. The piece also covers the technical and operational adaptations required for AI workloads, the strategic locations for data centers, and the broader economic and geopolitical factors influencing the sector's growth.

Fortune International Group and Château Group secured a $463 million construction debt package from Madison Realty Capital to complete the St. Regis Residences condo development in Sunny Isles Beach, Florida. The project includes two 62-story oceanfront skyscrapers with 170 and 150 units respectively. The financing will refinance existing debt and fund the completion of the South Tower, expected by the end of 2028, with 80% of units presold. The North Tower has yet to start construction but has secured $114 million in financing. This deal reflects strong demand for luxury oceanfront condos in the Sunny Isles Beach market.

Shorenstein secured three office leases totaling 78,000 square feet at its repositioned building at 901 K Street NW in Washington, D.C.'s East End. Tenants include Capstone, Monument Advocacy, and the Skoll Foundation. The property was acquired in June 2025 for $84.3 million and underwent significant upgrades such as a renovated lobby, new conference center, rooftop terrace enhancements, and expanded amenities to attract tenants seeking quality office space.

A historic 11-story building in Downtown Clayton, Missouri, formerly the 7Up global headquarters, is being converted into a 118-unit apartment complex called the Upton. The $48.25 million project, supported by construction financing and historic tax credits, aims to preserve the building's historic integrity while addressing housing demand near Washington University in St. Louis. The redevelopment will feature studio to two-bedroom apartments with amenities such as a fitness center, heated outdoor spa, dog wash, game room, and fire pits, benefiting from its proximity to major corporate headquarters in Clayton.

Two Trees Management has expanded its office space on the Williamsburg, Brooklyn waterfront by leasing additional space to the AI firm Minerva BI at the Refinery at Domino. Minerva BI increased its footprint from 3,500 to 8,320 square feet, reflecting its growth and the building's appeal to technology companies. Other tenants like Skylight and Mega have also expanded or signed leases in the revitalized Brooklyn sugar factory development.

Barings acquired the Village Center at Rose, a fully leased grocery-anchored retail shopping center in Placentia, California, for $66.2 million. The 118,876-square-foot center, anchored by Ralphs supermarket, serves a dense trade area with strong household incomes and limited new retail supply. The acquisition aligns with Barings' strategy focused on necessity-based retail and portfolio income durability.

Holt Construction, a national development firm headquartered in Pearl River, New York, has appointed Adam Canosa as its new president. Canosa brings over 20 years of industry experience, including financial expertise and operational leadership, to the role. Holt Construction manages projects across several states including New York, New Jersey, Massachusetts, Texas, and Florida, focusing on construction management and development.

Driftwood Capital and Merrimac Ventures secured a $145 million loan to develop Riverside Wharf, a $350 million hospitality and retail project in Downtown Miami. The development includes a 167-room hotel in two nine-story towers, a nightclub, event hall, restaurant space, and an outdoor bar. The 1.3-acre site is owned by MV Real Estate Holdings and the City of Miami, with a 50-year ground lease extension approved. Construction is expected to finish by fall 2028, with Moss Construction as the general contractor.

LMF Commercial, a Lennar subsidiary specializing in fixed-rate mortgages for multifamily, retail, hotel, self-storage, and office properties, has closed and begun laying off staff in its New York, Miami, Los Angeles, and Las Vegas offices. Founded in 2013, LMF originated significant loans including a Bronx multifamily housing portfolio and a Midtown Manhattan office refinance. The closure is attributed to challenges in originating conduit CMBS loans amid a higher interest rate environment, which was central to LMF's business.

GreenOak, formerly known as BentallGreenOak (BGO), is undergoing a rebranding to unify its institutional asset management platform under the GreenOak name, consolidating several sister firms. Owned by Sun Life Financial, GreenOak has recently expanded its portfolio by acquiring a 100% leased surgery center portfolio across nine U.S. markets and Bell Partners, a major property management and development firm. The rebranding reflects the firm's integrated platform approach and continued focus on strong investment outcomes and client service.

Industrial Color, a creative production company, has renewed and expanded its lease at Rudin's Tribeca office property located at 32 Avenue of the Americas in New York. The company signed a 15-year renewal for its existing 46,638-square-foot space and added 12,125 square feet, increasing its total office footprint to 58,763 square feet. This long-term commitment highlights the value and trust in the property ownership and supports Industrial Color's growth in the building.

Extell Development, led by Gary Barnett, is advancing its 570 Fifth Avenue office tower project in Midtown Manhattan by securing 87,000 square feet of air rights from the Church of St. Mary the Virgin, with a purchase agreement filed for $23.93 million. The project includes a Class A office and retail tower anchored by law firm Simpson Thacher & Bartlett and an Ikea store, expected to be completed by 2028. Extell is also acquiring multiple properties and air rights in Midtown for additional office and hotel developments, including a $1.25 billion financed Times Square supertall hotel called the Torch, as well as residential towers on the Upper West Side and other Manhattan locations.

Querétaro, Mexico, is emerging as a major hub for data centers, hosting about 72% of the country's operating capacity and attracting significant investment from global and regional operators. The region benefits from favorable weather, strategic location near the U.S., strong connectivity, and established infrastructure, making it an attractive site for data center development. While there are some local concerns about environmental impacts, the economic benefits and standardized development practices similar to those in the U.S. support its growth. Labor cost advantages and proximity to the U.S. market further enhance Querétaro's appeal as a data center hotspot.

Luxury fashion brand Dolce & Gabbana is relocating its New York City headquarters to a long-term lease at the Feil Organization's office property at 551 Fifth Avenue in Midtown Manhattan. The company will occupy 21,000 square feet on the ninth floor, moving from a nearby location. The building also houses tenants such as the National Women's Soccer League and various law firms, highlighting its appeal as a premier office location in New York City.

The article discusses the importance of passion as a fundamental characteristic for success in commercial real estate, emphasizing how it fuels discipline, curiosity, expertise, and personal growth. The author, Robert Knakal, reflects on his 42-year career in New York City real estate, highlighting how passion sustains motivation through challenges and inspires others. He encourages professionals to find genuine interest in their work to achieve meaningful success and continuous improvement.

In 2026, single-asset, single-borrower (SASB) deals dominate private-label commercial mortgage-backed securities issuance, accounting for 76 percent of volume through September. The market is shifting from office and retail properties to apartments, hotels, and data centers. SASB deals focus on large, marquee assets, while conduits finance smaller, everyday loans. Office remains the largest SASB property type but has declined, with multifamily and hotels rising significantly. Seven banks, led by Goldman Sachs, Wells Fargo, and Citi, originate most deals. Overall issuance is slightly ahead of 2025, with SASB setting the pace and changing the collateral mix toward trophy assets and big portfolios.

Citibin, a manufacturer of trash, recycling, and compost enclosures, has expanded its warehouse and office space at Industry City in Brooklyn, New York, tripling its footprint to 15,000 square feet due to new city policies on waste storage. Since moving to Industry City in 2017, Citibin has consolidated operations and grown alongside its business, supplying sealed trash containers to many New York City business improvement districts and other cities. The expansion highlights the importance of flexible industrial and office space to accommodate growth.

New York City Mayor Zohran Mamdani has launched an initiative deploying in-house Public Interest Technology (PIT) crews to develop digital solutions aimed at simplifying government processes, reducing bureaucracy, and addressing affordability issues. These teams focus on creating user-friendly platforms for filing complaints, streamlining permits, and improving access to services, with an emphasis on agility and cost-effectiveness compared to previous administrations' outsourced tech projects. While AI integration is approached cautiously due to regulatory concerns, the administration is exploring its potential to assist small businesses and real estate owners in navigating complex permitting processes. The initiative reflects a cultural shift toward digital innovation within city government, aiming to enhance efficiency without reducing public sector employment.

Loudoun County, Virginia, has become the global hub for data centers, hosting 253 facilities that account for 25% of the U.S. data center market and generating significant tax revenue that supports local services and infrastructure. The county's zoning policies and proximity to Washington, D.C., have attracted major tech companies, fueling rapid growth driven by increasing demand for cloud computing and AI technologies. However, this expansion has sparked local controversy over environmental impacts, energy consumption, noise, and property values, leading to political debates and potential regulatory changes. Despite concerns, data centers remain vital to the county's economy, though officials acknowledge the need to diversify beyond the tech sector.

The article discusses significant commercial real estate developments and investment activities, highlighting major deals such as Ken Griffin's $3.3 billion construction financing for a 66-story office tower at 350 Park Avenue in New York City, and UDR's $2 billion multifamily joint venture with Apollo Global Management. Despite some market cooling indicated by a 27% drop in Manhattan investment sales, the office market remains strong with investors seeking prime properties. South Florida's real estate market is thriving, with luxury condos and major office transactions in Miami, Boca Raton, and Fort Lauderdale. The article also notes challenges from rising bond yields impacting transaction activity and mentions CBRE's acquisition of a London-based data center equipment company. Overall, the market shows resilience amid a complex economic environment.

CP Group and Harrison Street Asset Management sold the One Boca Place office complex in Boca Raton, Florida, for $78.9 million to Golden East Investors. The property is a two-building office asset totaling 286,890 square feet, located near the Town Center at Boca Raton. This sale is part of a series of office property transactions by CP Group in Boca Raton, including the recent sales of Two Town Center and the BRiC campus.

The article discusses New York City's pied-à-terre surcharge, a tax on certain residential condos and co-ops owned as second homes, which affects property values and buyer decisions. It highlights the surcharge's impact on ownership costs, exemptions, legal challenges, and the importance of understanding property use, ownership structure, and lease terms. The surcharge does not apply to commercial office, retail condos, or typical rental buildings, making some commercial properties and rental buildings potentially more attractive investments. Buyers and sellers must carefully consider these factors in negotiations.

A New York-based developer, Revamp NYC, has filed plans for a new 25-story mixed-use building at 160 Pearl Street in Manhattan's Financial District. The proposed project includes 99 residential units and ground-floor retail space, aiming to add to the neighborhood's growing residential community. It is unclear if the project will include affordable housing or if the existing commercial building will be demolished.

Rexford Industrial Realty, a Los Angeles-based REIT, sold $1.3 billion in industrial properties during Q3 as part of a $2 billion portfolio realignment, focusing on selling 25 industrial assets totaling 5.5 million square feet. The company paused acquisitions to prioritize capital allocation and reported strong leasing activity with 116 leases covering 3.74 million square feet, driven by light and advanced manufacturing as well as logistics and warehouse tenants. Rexford's development pipeline includes over 2 million square feet in projects, with selective future development plans primarily in Southern California. Despite some revenue declines and impairment charges, occupancy and rent growth showed positive trends.

Jeff Thramann, CEO of LT350, is innovating in the data center industry by integrating mini modular data centers into solar panel canopies above parking lots at properties such as hospitals, malls, and schools. This technology combines GPU servers with battery storage to provide low latency, secure data processing close to end users, targeting sectors like health care, financial services, and government. LT350 plans to deploy these systems on existing canopies at various commercial properties, offering revenue-sharing opportunities to property owners. The company is preparing to break ground on its first project at a hospital in Dallas, Texas, and aims to create a distributed, resilient digital infrastructure with national security benefits.

Bridge Investment Group and Pacific Development secured $73 million in bridge debt to refinance the newly built Ballpark Apartments, a 368-unit residential complex in Reno, Nevada. The five-story, 486,000-square-foot development features amenities such as a swimming pool, spa, fitness center, and rooftop lounge, contributing to downtown Reno's revitalization. The financing supports the developers' commitment to high-quality community development and long-term market vitality.

The New York City Council passed the Community Opportunity to Purchase Act (COPA), giving nonprofit organizations priority to buy rent-stabilized buildings in New York City. The law aims to shift some housing stock from private landlords to nonprofits but includes exemptions for sellers facing financial hardship. Despite support from the current mayor, challenges such as high costs, rent freezes, and rising vacancies in rent-stabilized units persist, affecting both nonprofit and for-profit landlords.

A joint venture involving Avery Hall Investments, Bridge Investment Group, and Declaration Partners secured a $95 million loan to refinance a newly built 17-story multifamily apartment building in Brooklyn's Gowanus neighborhood, New York. The 133-unit property includes market-rate and affordable apartments, ground-floor retail space, and community amenities. The refinancing replaces previous debt and reflects confidence in the neighborhood's growth and strong leasing performance.

The article discusses R-Zero, a physical AI platform led by CEO Jennifer Nuckles, which connects building data to optimize energy savings and improve HVAC performance, achieving 20-40% energy savings without major retrofits. It highlights the evolution of building energy management driven by advances in hardware, software, and regulation such as Local Law 97, and emphasizes the financial benefits of energy efficiency investments for building owners. The content also references upcoming industry events and virtual forums focused on AI and innovation in commercial real estate.

E&S Ring secured $95.8 million refinancing from Voya Investment Management for a six-property multifamily portfolio in Southern California, including properties in Los Angeles, Culver City, and Victorville. The refinancing replaces existing debt with six non-cross-collateralized loans featuring fixed and floating rates, interest-only payments, and prepayment options. The portfolio consists of 1,461 units across six properties, with multifamily vacancy in Greater Los Angeles holding steady at 4.5% and rents slightly below last year, amid increased investment activity.

Grover Corlew purchased the 21-story office building at 200 East Broward in Downtown Fort Lauderdale for $69.7 million, marking another office sale at a discount in the South Florida market. The 235,211-square-foot property, 75% occupied and built in 1991, will undergo a $20 million renovation to add amenities such as a gym and conference facilities. Recent years have seen multiple office towers in Fort Lauderdale sell below previous purchase prices, reflecting a trend of discounted office property sales in the area.

Mast Capital is marketing the 26-story Banyan Tree Residences, an 88-unit luxury condo project in West Palm Beach, Florida, with prices starting at $1.9 million for a one-bedroom unit. The company highlights West Palm Beach's growth, walkability, and vibrant culture, emphasizing the importance of local market knowledge and tailoring projects to the city's unique characteristics. Buyers include local South Florida residents, Northeastern and West Coast buyers, many downsizing or purchasing second homes.

Carnegie Hospitality is opening a new Carnegie Diner & Cafe in Manhattan's Penn District by taking over the lease of a 5,609-square-foot retail space previously occupied by Smashburger at 7 Penn Plaza. The deal includes a 10-year lease extension and the space features a ground floor, mezzanine, and basement. Carnegie Hospitality currently operates multiple locations in New York City and recently leased additional space for combined restaurant concepts. Smashburger is consolidating its presence in the New York metro area by exiting this location.

Former Miami Beach Mayor Philip Levine has proposed building an eight-story boutique office development in South Beach, Miami Beach, Florida, featuring 37,037 square feet of office space, retail space, and parking. The project aims to meet rising demand for high-end offices in the area and would replace existing office and retail buildings. The Miami Beach Planning Board will review the application in December. The development follows recent allegations involving Levine but he has not been charged.

Italy-based Officine Gullo has leased 3,200 square feet of ground-floor retail space at 95 Madison Avenue, a luxury condo development in Manhattan's NoMad neighborhood, marking its new flagship location in New York City. The 10-year lease follows the company's existing showroom in Tribeca and highlights the upscale nature of the property, which features various amenities including lounges, playrooms, and fitness spaces. The asking rent was not disclosed, but nearby retail rents average $403 per square foot.

David Werner has acquired a 49 percent stake in 605 Third Avenue, a 43-story, 1 million-square-foot office tower in Midtown Manhattan, New York, partnering with Fisher Brothers. Unlike his previous office-to-residential conversions, Werner plans to maintain the property as office space. The acquisition follows his recent purchase of One Dag Hammarskjöld Plaza, also an office property in Midtown. The deal was brokered by Newmark, and current tenants include law firms and a business publishing company. Fisher Brothers had attempted to raise funds through an Israeli bond offering to buy out J.P. Morgan Asset Management's stake but withdrew due to market challenges.

SL Green Realty showed strong financial performance in Q3 2026 despite high interest rates and slower leasing activity, driven by its disposition strategy which generated significant cash flow from property sales in Manhattan. The company reported increased funds from operations, total revenue, and net income compared to previous quarters. Leasing transactions declined but included notable deals such as a large office lease by Landesbank Baden-Württemberg in Manhattan. The company also managed interest rate impacts through hedging strategies.

Newmark has launched a new debt and structured finance program offering bridge loans specifically for multifamily assets, aiming to eventually become an agency lender through Fannie Mae and Freddie Mac. The firm has already issued its first $35 million bridge loan to refinance Independence Place, a 264-unit multifamily property in Hinesville, Georgia. This program is designed to provide clients with greater financing flexibility and continuity throughout the financing lifecycle.