Bloomberg, May 18, 2023–Laura Nahmias, Natalie Wong, Dayana MustakOffice vacancies in New York City reached a record 22.7% this year, after decades of an average rate that never surpassed 11% …
Category: Top National News
Sam Zell, Legendary Real-Estate Investor, Dies at 81
Wall Street Journal, May 18, 2023–Tali Arbel, Colin Kellaher (subscription)Storied real-estate investor Sam Zell, who made a fortune buying distressed commercial properties, has died. He was 81.https://www.wsj.com/articles/legendary-real-estate-investor-sam-zell-dies-bbc5bde9?mod=hp_lead_pos10
U.S. Commercial Real Estate Post First Price Decline in a Decade
Mortgage Professional America, May 18, 2023–Candyd MendozaThe prices of US commercial real estate properties fell for the first time since 2011, according to Moody’s Analytics. The Mortgage Bankers Association forecasted …
San Francisco Gets a $1 Billion Bet That Workers Will Return
Bloomberg, May 17, 2023–Biz CarsonThe 48th floor of the Transamerica Pyramid used to hold a conference room with panoramic views of the San Francisco Bay. Today, there’s a hollowed out …
loanDepot Institutes Return-to-Office Policy; More Layoffs?
Inside Mortgage Finance, May 17, 2023–Paul MuololoanDepot, the nation’s 14th largest home lender, told its workforce this week that, come Sept. 5, they must be in the office at least …
Rise in Distressed Sales Signals New Chapter for Beleaguered Office Market
Wall Street Journal, May 16, 2023–Peter Grant (subscription)Property owners are starting to unload troubled office buildings at fire-sale prices, a sign that the office market slump is moving into a …
Rise in Distressed Sales Signals New Chapter for Beleaguered Office Market
Wall Street Journal, May 16, 2023–Peter Grant (subscription)Property owners are starting to unload troubled office buildings at fire-sale prices, a sign that the office market slump is moving into a …
Proptech and Office Space Management
Commercial Property Executive, May 12, 2023–Jessica FiurWhile many companies are still unsure about what to do with their empty office space, new proptech options are emerging to help manage it.https://www.commercialsearch.com/news/proptech-and-office-space-management/
26 Empire State Buildings Could Fit Into New York’s Empty Office Space. That’s a Sign
New York Times, May 11, 2023–Edward L. Glaeser, Carlo RattiIn downtowns from Chicago to Los Angeles, the physical layout of the 20th-century city is clashing with the new economy. Since …
New York City-Area Rents Surge by Most in Nearly Two Decades
Bloomberg, May 10, 2023–Prashant GopalRents for primary residences in the New York, Jersey City and Newark, New Jersey, region rose 6.1% in the 12 months through April, the biggest increase …