Real Estate

The Howard Hughes Corp. has unveiled a transformational plan to revitalize Lower Manhattan’s Seaport. The $1.4 billion proposal will bring a mixed-income development and the area’s first affordable housing units to the market in decades. The project is located on a full-city block surface parking lot at 250 Water Street in the South Street Seaport

Scoring a Hamptons hideaway has never been more competitive: Douglas Elliman reports that East End deals more than quadrupled this summer compared to last. And all that buzz means the price tags on big-ticket listings are getting even bigger. “People are taking advantage of the much stronger market,” says Corcoran’s Gary DePersia. “I’m seeing bidding

The Goldman Sachs Merchant Banking Division is forming a global data center infrastructure platform. The division is partnering with long-time data center industry executive Scott Peterson and a seasoned management team to launch Global Compute Infrastructure. It initially committed to fund up to $500 million of equity capital, primarily from its infrastructure fund, West Street

While the apartment sector has withstood the COVID-19 pandemic reasonably well due to federal stimulus payments and expanded unemployment benefits, problems could be on the horizon for multifamily assets, according to Fitch Ratings. Fitch says that US apartment REITs with high exposure to class B and C assets and properties in gateway cities are vulnerable

Not many businesses dealt with what WeWork did in the past year.  In addition to the COVID-19 pandemic, the company weathered controversy that brought down founder and CEO Adam Neumann.  But Peter Greenspan, global head of Real Estate at WeWork, told Savills USA Managing Director Ken Biberaj in a recent podcast that the firm didn’t

Not quite a year on from selling his Hollywood compound for $3.85 million, Academy Award winner Forest Whitaker has headed back East — specifically, to the Big Apple — where he’s ponied up almost $1.6 million for a garden duplex on Manhattan’s ritzy Upper East Side. Situated on a quiet, tree-lined street in the tony

As the coronavirus pandemic wears on, with the threat of a second wave looming, many New Yorkers are feathering their nests in preparation for a winter spent largely at home. Major retailers and local design shops alike have noted a shift in consumer demand with the changing of the seasons. Yes, toilet paper and Clorox

I made my way past the floor-to-ceiling bay windows and paused at the French doors, which led to the terrace of my dream home. That’s when a “low battery” message on my phone snapped me back to my own personal reality — a couch in my 1.5 bedroom Manhattan apartment.  Even though I have no

Early on in the COVID-19 pandemic, many observers had dire predictions about what would happen with apartment rents. “If you go back to when this started in March, people were thinking by the summer, the situation would implode and rent collections wouldn’t be where they were,” says Evan Blau, a partner at Cassin & Cassin

Good things sometimes do come to those who wait. And, for the financially well endowed, at least, that goodness sometimes comes in the form of a multimillion-dollar real estate discount. In late 2018, boutique hotelier Edward Slatkin, whose portfolio includes the celeb-favored Shutters on the Beach in Santa Monica, made his Tinseltown-tinged estate in a

Every day, the presidential candidates are talking about COVID-19, the fight for a new Supreme Court justice, and the economy. So maybe it’s no surprise that even though we are inarguably in a housing affordability crisis, the problem doesn’t get much airtime. Still, from the policies that President Donald Trump and Democratic challenger Joe Biden

When Jerry Seinfeld’s opinion piece “So You Think New York Is ‘Dead’ ” was published in the Times this summer, it struck a chord with wearied New Yorkers, hopeful that all they’d need to get through the pandemic was a little elbow grease. His essay was a response to an article that had appeared in

Last November, ORIX Corporation USA acquired Hunt Real Estate Capital, a family-owned commercial real estate investment management firm. The marriage paired Hunt with ORIX Real Estate Capital brands, Lancaster Pollard and Red Capital Group. A year later, ORIX, a global financial services firm and subsidiary of Japan-based ORIX Corporation, is tightening the bonds between its

The Los Angeles penthouse of late Oscar and Grammy-winning songwriter and lyricist Hal David has been listed by his surviving wife, Eunice David, to the tune of $3.995 million. David, who died in 2012 at 91, was honored by the Songwriters Hall of Fame in 2011 and is best known for his collaborations with legendary

Dan Bracey, CSP, CHMM The global pandemic forced commercial buildings throughout the world to close. We have all felt the impact of these closures for over half of the year. Now that we have begun to reopen and buildings have become occupied with employees and customers, there are health and safety measures that must be

Front Yard Residential Corp., a provider of single-family rental housing, is being taken private by alternative investment management firm Pretium and a group of its investors and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corp. The all cash transaction values Front Yard at $2.4 billion.  When the deal

Times Square’s bright lights will shine less green with the closing of popular Irish pub The Mean Fiddler, which will shut its doors by the end of the month. The cozy bar-restaurant that’s hosted Bono, Johnny Depp, Jimmy Fallon and Liam Gallagher — as well as hordes of Broadway show-goers and tourists — fell victim

Marcus & Millichap has entered into a definitive agreement to acquire Mission Capital in a transaction expected to close in the fourth quarter.   Mission Capital is a capital markets advisor specializing in the sale of loans and consultative/due diligence services as well as debt and equity placement across all property types.  The firm’s loan sale

The Los Angeles-adjacent seaside community of Manhattan Beach is known for its chic boutiques, charming eateries, and for its expensive mansions, which are particularly popular with both powerful financiers and well-compensated athletes alike. Maria Sharapova has been a community resident for many years, and she custom-built her striking modern home, featured last year in Architectural

The pandemic has undoubtedly slowed commercial real estate investment sales activity, but one investment group is standing apart from the rest. During the second and third quarters, institutional investors have remained net buyers, despite the uncertainty brought on by the pandemic. In fact, according to data from Real Capital Analytics, institutional investors have acquired $9.6

Last week’s news that the historic Roosevelt Hotel was closing had New Yorkers teary-eyed and developers drooling. The historic, nearly 100-year-old Roosevelt announced on Oct. 12 that it would be checking out for good at the end of the month because it could no longer survive the pandemic. Longtime owner Pakistan International Airlines said it has

While apartment demand is picking up in some areas of the country, the recovery has stalled in high-priced gateway markets, according to a new report from Yardi Matrix. As the pandemic has sent workers home, these gateway markets have experienced the largest exodus of people. They may face long and difficult recoveries, according to Yardi,

Admission volume and rent collection performance in the affordable housing and public housing sectors continued to widen in September. After months of underperformance, admission volume for affordable housing rebounded in September, according to MRI Software, which reports that September 2020 volumes were 95% year-over-year for affordable housing, but only 68% for public housing.   While admission

After more than 16 years in the neighborhood, Tinseltown businesswoman and TV personality Tracey Edmonds has publicly slapped a $10 million pricetag on her lavish mansion in the guard-gated Mullholland Estates community. The listing, which makes no secret of the home’s celebrity ownership, indicates the liberally embelished 1990s French Chateau-style house has more than 8,200

The COVID-19 outbreak is hurting senior housing. Senior housing occupancy fell 2.6 percentage points in the third quarter of 2020, from 84.7% to 82.1%, according to new data from NIC MAP Data Service provided by the National Investment Center for Seniors Housing & Care. This is the second quarter in a row where occupancy fell

Now you can “Learn it. Know it. Live it.” Literally. For the first time in 20 years, the house from “Fast Times at Ridgemont High” where Brad and Stacy Hamilton resided is up for sale. Listed by Pinnacle Estate Properties for $739,999, the iconic home boasts three bedrooms, two bathrooms and, of course, the scene

As non-essential construction has started again in New York, some design and construction firms are creating new ways to design and build space. Office design is ripe for new ideas. While some firms are taking a “wait-and-see” approach to renovating space, others are reimaging what workspace will look like in the future. “The health concerns

After a change of realtors and more than a year on and off the market, English former boybander Louis Tomlinson has finally succeeded in unloading his white elephant of a Hollywood Hills home, albeit at a precipitous loss. The 28-year-old’s 6,000-square-foot mansion, an architecturally fluid structure perhaps best-described as a neo-Georgian meets Art Deco-inspired contemporary

As offices sit empty, demand for life science space is flourishing. But that isn’t anything new. From 2009 to the end of 2019, lab space in the United States grew from 17 million to 29 million square feet, according to Bloomberg.  But building that space from scratch is expensive, according to Jennifer Luoni, director of

The Ventas Life Science and Healthcare Real Estate Fund has acquired a trophy life science portfolio in the South San Francisco life science cluster for $1 billion. The seller is Bain Capital Real Estate. Ventas is the sponsor and general partner of the fund, which is a perpetual life vehicle focused on investments in core and