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/?
Category: Top National News
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
Commercial Real Estate Finds a Rare Bright Spot by Campuses
Wall Street Journal, July 4, 2023–Maggie Eastland (subscription)Rents for student housing are poised to grow, boosted by limited supply and strong demand at many colleges, especially top research universities and …
Manhattan’s Office Vacancy Level at New Record High
Weekly Real Estate News, July 6, 2023–Phil HallManhattan’s office property market broke a record in the second quarter, with a new high of 70 million square feet of available space.https://wrenews.com/manhattans-office-vacancy-level-at-new-record-high/?
A Closer Look at Onshoring’s Impact on the Industrial Sector
GlobeSt.com, July 6, 2023–Philippa MaisterOnshoring is the new buzzword for international trade following the disruptions caused by the Covid pandemic. But is onshoring going to be the dynamic stimulus for …