Wall Street Journal, July 17, 2023–Maggie Eastland (subscription)New York’s rental market of the moment is in the Bronx, where a cluster of new luxury apartments along the Harlem River and …
Category: Top National News
A New Estimate: Office Could Lose $800B in Value by 2030
GlobeSt.com, July 14, 2023–Erik ShermanA new McKinsey Global Institute report estimates that by 2030 across nine “superstar” cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai, …
How Some Lenders Are Managing CRE Loan Modifications
GlobeSt.com, July 14, 2023–Erik ShermanThat there was going to be trouble was obvious back in the late summer and early fall of 2022. Interest rates were climbing fast. Too many …
New Program Seeks to Convert Boston Office Properties into Multifamily Housing
Weekly Real Estate News, July 13, 2023–Phil HallBoston Mayor Michelle Wu unveiled a program offering tax incentives that will encourage the conversion of downtown office buildings into residential housing.https://wrenews.com/new-program-seeks-to-convert-boston-office-properties-into-multifamily-housing/?
The Luxury Tower Built for New York’s Elite Still Sits Half Empty
Wall Street Journal, July 13, 2023–Katherine Clarke (subscription)Related Companies has struggled to unload its most expensive units at 35 Hudson Yards. Now the developer is offering deep discounts.https://www.wsj.com/articles/hudson-yards-condos-14aed09e?
What is The ‘Built-to-Rent’ Home Trend?
NBC Today, July 7, 2023–Vicky NguyenBuild-to-rent communities, entire neighborhoods of single-family homes built just for renting, are giving residents the opportunity to enjoy modern appliances and luxury finishes at affordable …
Is Work From Home to Blame for Senior Housing’s Muted Recovery?
Wall Street Journal, July 11, 2023–Will Parker (subscription)Remote work stung the office market. Some analysts wonder if it is hurting senior housing, too.https://www.wsj.com/articles/is-work-from-home-to-blame-for-senior-housings-muted-recovery-abf702b?
Manhattan Luxury Real Estate Market Heats Up
Wall Street Journal, July 11, 2023–Kate King (subscription)New York City’s luxury residential market is gaining momentum after stumbling early in the year, another sign that pockets of the U.S. housing …
Regulators Issue Final Rule on CRE Loan Modifications
Globe St., July 3, 2023-Erik ShermanLast September, in anticipation of a potential CRE meltdown in the face of sharply escalating interest rates, the Office of the Comptroller of the Currency; …
Commercial Property Fears Create Opportunities, Blackstone Real Estate Co-Head Says
Bloomberg, July 5, 2023-Jack SiddersFears over turbulence in commercial real estate is creating opportunities for well-capitalized investors, according to Blackstone Inc. co-head of global real estate Kathleen McCarthy.https://www.bloomberg.com/news/articles/2023-07-05/real-estate-fear-creates-opportunities-blackstone-co-head-says