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Queens Condo to Pay $119K for Stealing Workers’ Wages

about 10 hours ago
The Jackson Condominium in Queens failed to pay proper wages to building staff in violation of a state tax abatement agreement, resulting in a $119,000 settlement with the comptroller's office.

Elie Schwartz Misses Deadline For $3M Repayment To Investors He Allegedly Defrauded

about 11 hours ago
Despite a settlement agreement, the embattled CEO of Nightingale Properties has failed to make a $3M payment to crowdfunding investors who were allegedly swindled.

Prominent K-Town Developer Plans Apartment Towers on Wilshire Boulevard

about 13 hours ago
Jamison Properties is close to receiving approval for a new 23-story apartment project in Koreatown, adding to their extensive real estate developments in Los Angeles.

Giorgetti to Bring Luxury Italian Furniture to D.C. Region

about 13 hours ago
Italian furniture designer Giorgetti secures new lease for brick-and-mortar store at The Collection in Chevy Chase, Md., marking its first location in the D.C. region.

Boynton Beach Industrial Property Trades for $36M

about 14 hours ago
Boynton Logistics Center, an industrial complex in Boynton Beach, Fla., sells for $36.25 million, with three buildings totaling 197,608 square feet on 8 acres of land.

'Come To Your Higher Self': Adam Neumann Officially Launches Flow Apartment Brand

about 15 hours ago
Former WeWork CEO Adam Neumann launches Flow, a multifamily investment brand aiming to bring residents together in South Florida, with properties in Fort Lauderdale and Miami.

Amazon To Double Number Of Same-Day Delivery Distribution Hubs, CEO Says

about 16 hours ago
Amazon is expanding its same-day delivery services for perishable groceries and pharmacy goods, planning to double the number of fulfillment centers in major U.S. cities and potentially using drones for deliveries.

DataBank Creates $725M Facility For Data Center Growth

about 16 hours ago
Data center specialist DataBank secures $725M credit facility to finance expansions and construction projects amid growing demand for data centers driven by artificial intelligence.

New York State Senate Pushes Budget Deadline to Monday

about 18 hours ago
The New York State Senate has approved a budget extension, pushing the deadline to Monday in order to resolve division on budget issues such as education, healthcare, and housing.

Blackstone’s Loan on Schwab Building Hits Special Servicing, Modification Underway

about 18 hours ago
Blackstone's $195 million CMBS loan on their San Francisco office tower has entered special servicing, but a loan modification is underway.

Lease Deals of the Week: Coworking Comes Back

about 19 hours ago
Coworking companies continue to dominate top leases of the week, with Regus, Convene, and Industrious making the list, alongside VanEck's 53,333-square-foot renewal at 666 Third Avenue.

Sales Deals of the Week: Ventura Multifamily Asset Fetches $133M

about 19 hours ago
Decron Properties sold the 376-unit Ranch at Moorpark in Ventura County to AEW Capital Management for $133.2 million, while the New York City Housing Development Corporation purchased the 109,000-square-foot office it leases from Silverstein Properties for $52.7 million.

Finance Deals of the Week: A Massive $911M Refi in New York City

about 20 hours ago
The article highlights the biggest week in financings in America, including a $911 million refinancing at 425 Park Avenue, a large affordable housing financing in Brooklyn, and a $127 million refinancing for a luxury apartment tower in Chicago.

Terra Buys Piece of Demolished Deauville Hotel Site in Miami Beach

about 21 hours ago
Miami-based developer Terra has acquired a 25 percent interest in the former Deauville Beach Resort site in Miami Beach, with plans to redevelop the iconic property.

These Are the Riskiest Multifamily Securitization Markets

about 23 hours ago
KBRA analyzed multifamily supply and demand in 25 major cities to develop risk scores for multifamily securitizations, finding weaker markets in Detroit, Chicago, and Denver and stronger markets in Las Vegas, San Diego, and Houston.

Blackstone Lands $429M CMBS Refi for Hotel Portfolio

about 23 hours ago
Morgan Stanley and Société Générale secure $428.5 million refinance for Blackstone's portfolio of 23 hotels, securitized in CMBS deal.

Apartment Rents Rise for Third Consecutive Month

about 23 hours ago
Rents are rising across the country, driven by factors such as high homebuying costs and increased demand, with the Midwest and Northeast experiencing the largest increases.

Home Sellers in These Cities Are Losing Money

about 24 hours ago
Home prices remain near record highs, benefitting sellers in most markets and leading to a smaller percentage nationwide losing money on their sales, with New England sellers being the least likely to experience a loss.

Too Many California Banks Overexposed to CRE

about 24 hours ago
Rising inflation and the threat of increasing interest rates in 2024 are causing concern for banks in California and other states overexposed to commercial real estate debt.

What Office Investors Can Learn From Houston

about 24 hours ago
Moody’s Analytics CRE analyzes office market to identify top-performing properties based on rent data, location characteristics, and physical attributes.

Non-Profits Most Stable of DC Asset Classes

about 24 hours ago
Non-profits hold a significant amount of office space in Washington, D.C., with stability in leasing volume and strategic proximity to Capitol Hill.

A Software Offering Looks to Address Renter Fraud

about 24 hours ago
RealPage and Plaid are offering new services to detect apartment rental fraud early in the leasing process, with features including an anti-fraud engine, identity verification, and access to tenant bank account data.

Manhattan Apartment Rents Retreat in March

about 24 hours ago
Manhattan's median apartment rent dropped to $4,100 in March, marking a 3.1% decline from February's level, while new leases and bidding wars increased.

Carnival Lists 470K SF Miami HQ for Sale

1 day ago
Carnival Corp. is selling its headquarters building in Doral, Miami to cash in on real estate growth and move closer to the port of Miami as the cruise industry booms.

The Bisnow Weekender: Welcome To Interest Rate Purgatory

1 day ago
The Bisnow Weekender covers the impact of Federal Reserve decisions on commercial real estate and other notable news in the industry.

‘No Rest For The Weary’: What Higher Interest Rate Expectations Mean For CRE

1 day ago
Experts in the commercial real estate sector are adjusting their expectations for interest rate cuts, potentially leading to increased transaction activity and buying opportunities, as inflation and economic uncertainty push back predictions for rate decreases.

Industrial Rents Drop In Southern California For First Time Since 2009

1 day ago
Industrial rents in Southern California dipped in the first quarter, but the market is rebalancing from an unsustainable early pandemic boom rather than indicating a cause for concern, according to Savills.

An ‘On-Ramp’ To Ownership: Chicago Developer Uses Crowdfunding To Get New Group Of Investors In The Game

1 day ago
Chicago Trend Corp. is utilizing crowdfunding to involve community investors in traditionally underrepresented areas in property ownership and redevelopment.

Northwestern Mutual Provides $127M Refi For Luxury Chicago Apartment Tower

1 day ago
Metlife Investment Management and Allstate Investment secure $127 million to refinance a luxury apartment tower in Chicago's Streeterville neighborhood with a variety of amenities.

NYC Council OKs Willets Point Soccer Stadium, Housing Redevelopment Plan

1 day ago
The New York City Council approved plans for a 25,000-seat soccer stadium and 1,400 homes to replace junkyards and auto shops in Willets Point, Queens, in a historic development project.

L&L Lands $911M Loan To Refinance Citadel-Anchored Park Avenue Tower

1 day ago
L&L Holding Co. secures a $911M refinancing deal for a Midtown Manhattan skyscraper, with hedge fund Citadel as the anchor tenant, showing confidence in NYC's office market.

Manhattan Rents Tick Down As More Renters Choose The Boroughs

1 day ago
Manhattan apartment rents decreased slightly in March but remained near record levels due to high demand and mortgage rates, with renters seeking cheaper options in Brooklyn and Queens.

CMBS Debt Issuance Shoots Up To Start 2024

1 day ago
Confidence in the CMBS market grew significantly in the first quarter of this year, with a surge in issuance and tightening spreads reflecting investor demand for lower risk.

Waterbridge’s Joel Schreiber Scores Extension on L.A. Office Tower Loan

1 day ago
Hankey Group Chairman Don Hankey extends a loan for Waterbridge Capital founder Joel Schreiber, allowing him to pay off a large portion of debt owed for a Downtown LA office tower purchase.

CBRE Global Capital Markets Head Stepping Down After 40 Years

1 day ago
CBRE executive Chris Ludeman, a long-time CRE veteran, is stepping down as global capital markets president, leaving a legacy of successful deal-making and adapting to an increasingly challenging market.

Office Leasing Picks Up In D.C., But Not Enough To Stop Rising Vacancy

1 day ago
Despite an increase in leasing activity in downtown D.C., the office market continues to struggle with negative net demand, rising vacancy rates, and companies downsizing or moving to smaller spaces.

StackSource Acquired by L.A.-Based Firm, Investor and Founder Equity Wiped Out

1 day ago
StackSource, a commercial mortgage advisory firm, has floundered financially and merged with a real estate financing brokerage, leaving shareholders without any equity payout.

CRE Exec Sentenced To Death For Fraud Scheme Amid Vietnamese Corruption Crackdown

1 day ago
Truong My Lan, chair of Van Thinh Phat, was sentenced to death for a $12.5B fraud scheme, causing a crisis in Vietnam's real estate sector and leading to concerns about foreign investor pullout and anticorruption measures.

Decron Sells SoCal Rental Community to AEW Capital for $133M

1 day ago
Decron Properties sells multifamily asset in Southern California for $133.2 million, continuing successful selling streak as the company pivots its portfolio to other regions.

Sumitomo Mitsui Trust Bank Lends $911M 425M on Citadel-Leased 425 Park

1 day ago
Despite higher interest rates and hybrid work trends, L&L Holding Company secured a $911 million loan to refinance their Midtown East office tower, anchored by Citadel, making it one of the year's largest commercial real estate loans.

Ikea Operator Debuts Its First 'Saluhall' Food Hall In San Francisco

1 day ago
Ingka Centres, operator of Ikea-anchored shopping malls worldwide, debuts plant-forward food hall in San Francisco as part of its mixed-use concept, with plans to expand to other urban locations in the U.S. and Europe.

Fair Oaks Mall Gets Long-Term Loan Extension, New Management

1 day ago
Olshan Properties assumes full ownership and management of Fair Oaks Mall in Northern Virginia, securing a long-term loan extension and plans for renovations.

Mayor Adams Tries to Spur More Housing Development With New Zoning Changes

1 day ago
New York City officials propose zoning changes to tackle housing crisis by building more in every neighborhood, aiming to add a fifth of Mayor Eric Adams' goal of 500,000 housing units over the next 10 years.

NorthBridge Raises $950M For Infill Logistics Investment

1 day ago
NorthBridge Partners and Park Madison Partners have closed NB Partners Fund IV, raising $950M for small to midsized infill logistics properties targeting densely populated areas, active ports, and reshored manufacturing markets, despite an overall decline in industrial investment.

Broward County Industrial Complex Trades For $18M

1 day ago
Powerline Commerce Park in Deerfield Beach, Fla. sold for $18.1 million, showing a significant increase in value from its previous sale in 2013.

How Private Lenders Stepped In Where Banks Fear to Tread

1 day ago
Private lenders, like HALL Structured Finance, are thriving in the current economic environment by providing debt capital for quality real estate projects when banks are constrained, with a focus on multifamily and hotel sectors and new construction financing.

Custom Menswear Retailer Proper Cloth to Open at The Herald in DC

1 day ago
Proper Cloth signs 10-year lease for a showroom in Downtown Washington, D.C., marking its first location outside of New York.

Selling a Zoo Can Be Wild

2 days ago
The Aloha Safari Park zoo hit the market for $4.5 million in North Carolina.

Some Experts Float the Possibility That the Fed Could Raise Rates Again

2 days ago
Wall Street is concerned about potential rate hikes by the Fed after higher than expected Consumer Price Index numbers, which could impact commercial real estate.

The Single Family Rental Gross Yield Smackdown

2 days ago
Two firms analyzed gross rental yields for single family homes in different metro markets, with Parcl Labs listing Cleveland and Buffalo as top choices while ATTOM highlighted Indian River County and St. Louis City, emphasizing the importance of understanding different data methodologies for CRE investors.

Fed Ponders If SFR Investors Help or Hurt Communities

2 days ago
The Federal Reserve Bank of Minneapolis report examines the impact of large investors buying up affordable homes for rental properties, highlighting both pros and cons of their involvement in the housing market.

Rising Insurance Is Killing More and More Deals

2 days ago
Rising insurance costs are causing real estate investors to abandon deals and miss out on opportunities, impacting profitability and leading to broader market implications.

Banks Have Another Reason to Scale Back CRE Lending

2 days ago
Banks with high exposure to commercial real estate loans saw significantly negative market performances in 2023 despite previous trends.

A Net Lease Developer With Access to Community Bank Capital

2 days ago
Murphy Real Estate Services maintains access to low-cost community bank financing for commercial real estate projects, despite industry challenges and regulatory scrutiny, focusing on early education space and adapting to changing market conditions.

EV Charging Becomes a Selling Point for Home Buyers in These Markets

2 days ago
A new report shows that an increasing number of home listings now come with EV charging stations, reflecting the growing synergy between the housing market and EV adoption.

The Risks of Relying on AI Growth to Drive Data Center Demand

2 days ago
Artificial intelligence-driven demand is fueling growth in the data center industry, with concentrated construction in key markets facing challenges such as energy consumption and water availability.

Building Owners Bailing on Rent-Stabilized Apartments in NYC

2 days ago
New York City's rent-control law is causing owners of rent-stabilized properties to sell off their portfolios at significant discounts due to rising maintenance costs and restrictions on rent increases.

Fisherman's Wharf Hotel Goes Back to Lender

2 days ago
The Kimpton Alton hotel at Fisherman's Wharf in San Francisco is going back to the lender after the owner defaulted on an $85M mortgage loan due to unique challenges in the city's hospitality sector.

KKR Buys 1.8M SF Houston Industrial Park

2 days ago
Artis, a Canadian REIT, is selling off prime U.S. industrial assets in an effort to improve its balance sheet and focus on selling warehouses to strengthen its overall financial position.

Restaurateurs Are ‘Circling The Market Like Vultures’ In Sun Belt Cities Where Space Is Scarce

2 days ago
Houston's restaurant industry is booming post-pandemic, with landlords in the driver's seat as international operators clamor for prime locations and bidding wars become the norm.