Wall Street Journal, Feb. 12, 2017–Keiko MorrisMore tech, advertising and media firms are leaving Manhattan and moving across the river, tempted by lower office rents and shorter commutes for workers.
Category: Top National News
This Real Estate Giant Is Known For Its Massive Acquisitions, But Is Also A Leading Lender In NYC
Forbes, Feb. 9, 2017–Ely RazinWhich company is best known for its equity, yet was among the top 10 originators of commercial real estate financing in New York City in the first nine months of 2016 and the top five in Q3?
Landlord Concessions Rising in Manhattan and Brooklyn
Wall Street Journal, Feb. 9, 2017–Josh BarbanelSurge in new rental buildings seen to blame for concessions and flattening of rents.
Investors Reach $40 Million Settlement Over Sears Real Estate Deal
Reuters, Feb. 9, 2017–Tom HalsSears Holding Corp. Chairman and CEO Eddie Lampert and the company’s board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain’s best stores.
More Hurdles Ahead for Foreign Investors
National Real Estate Investor, Feb. 15, 2017–Beth Mattson-TeigIf the U.S. were to introduce substantive policy change and adopt an isolationist stance, that could potentially prompt foreign investors to hit the pause button or take a more wait-and-see approach.
Big Investors Cut Back on Commercial Property as Bull Market Loses Steam
Wall Street Journal, Feb. 7, 2017–Peter GrantSome prominent real-estate investors are reducing their holdings and getting more selective about new deals in a sign that the eight-year bull market for U.S. commercial property is coming to a close.
‘Malls Aren’t Dead at All,’ They’re Just Evolving, Retail Expert Says
Cleveland Plain Dealer, Feb. 5, 2017–Janet ChoAlthough some brick-and-mortar stores slumped this past holiday season and mall-based retailers like Macy’s, Sears, and Kmart are closing more than the usual number of stores, that doesn’t mean that shopping centers themselves are doomed.
Foreclosure Beckons for $70M Midtown Hotel Loan
Commercial Observer, Feb. 3, 2017–Cathy CunninghamA $70 million loan collateralized by the Gallivant Times Square at 234 West 48th Street is being dual-tracked in foreclosure, a source familiar with the asset said.
Sears/Macy’s Closures Won’t Disrupt CMBS Market
Scotsman Guide, Feb. 6, 2017–Victor WhitmanThe Macy’s and Sears store closings will create little credit risk to the overall commercial mortgage-backed securities universe, Moody’s Investors Service reported.
Why More Single-Family Homes Are Becoming Rentals
National Mortgage News, Feb. 7, 2017–Jacob PassyA homeowner’s equity position is one of the many factors that drive property transitions between owner-occupied and rental status, according to a study from the Mortgage Bankers Association’s Research Institute for Housing America.