Wall Street Journal, Feb. 23, 2021–Matt Grossman and Suzanne Kapner (subscription)Home Depot and Macy’s said pandemic-fueled shopping trends have continued into 2021, driving demand for home improvements and home goods. …
Group Newslink: MBA Commercial/Multifamily NewsLink Feb. 25
Manhattan Office Space Availability Reaches a Record High
Motley Fool, Feb. 23, 2021–Maurie BackmanWhen the coronavirus pandemic first reached U.S. soil, many employers were quick to kick workers out of the office and ask them to do their …
‘A Relative Holding Pattern’ For Offices
The office market has seen less deterioration during the pandemic recession than it did during the Great Recession, but it’s not out of the woods yet, reported Moody’s Analytics REIS, New York.
Dealmaker: Bellwether Enterprise Closes $64M for Affordable Multifamily
Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed $63.9 million for affordable multifamily communities in Alabama and Texas.
Higher Liquidity Levels Improve Commercial Real Estate Lending Momentum
CBRE, Dallas, said higher levels of liquidity, tighter credit spreads and a modest loosening of underwriting standards contributed to a “sharp improvement” in commercial real estate lending momentum in late 2020.
New York Is Officially the World’s Wealthiest City for Real Estate
Architectural Digest, Feb. 22, 2021–Dan AveryDespite the economic shakeup caused by COVID-19, New York remains the world capital for wealthy homeowners. Nearly 25,000 ultra-high-net-worth individuals have primary or secondary residences …
Dealmaker: CIT Provides $53M for Office, Multifamily
CIT Group, New York, provided $52.5 million in construction financing for a Nebraska office building and a Tennessee apartment community.
MBA Chart of the Week: CREF Bingo Card
MBA Research released its annual CREF Bingo card, covering top topics we expect to hear discussed in sessions, hallway conversations and receptions.
New York Real Estate Rentals Up In Manhattan And Brooklyn
HauteResidence, Feb. 19, 2021–Andres E. CaceresThe recent surge of rental leases in New York’s Manhattan and Brooklyn boroughs is welcome after 2020, when the pandemic drove people out to less …
Lumber Prices Rise Again, Impacting Home Affordability
RealtyBizNews, Feb. 19, 2021–Mike WheatleyLumber prices hit another record high last week, with the price having risen now by more than 170% in the last 10 months. That’s bad news …