Real Estate

As the US still faces the coronavirus pandemic and millions are unemployed, the multifamily industry is “cautious on collections” in the upcoming months as only a “minimal” amount of extra unemployment benefits are planned, according to a report from Yardi Matrix. “Collections have yet to decline a material amount, but if unemployed Americans are left

Mere days after recently re-listing his vibrantly colorful, pop-art-filled waterfront spread in Miami for $24.5 million, American retail fashion tycoon Tommy Hilfiger has also hoisted his European-inspired estate in exclusive Greenwich, Conn. onto the market with a publicity-assuring $47.5 million asking price. The turreted manor house appears transported from a Disney movie set in the French

Doane Kelly, the leader of Savills’ workforce strategy, said that while understandable in the moment, the idea that companies and organizations can be as productive with a mostly remote workforce is a long-term proclamation being made during a period of clouded vision for the future.  In a Q&A with Kelly, the expert suggested that business

Landlords of color are finding themselves especially hard hit by the economics of COVID-19, according to a new survey by the Urban Institute in partnership with Avail. Black and Hispanic landlords are more likely to be struggling to pay their mortgages than white landlords, and they are more likely to take a mortgage forbearance, according

Former Notre Dame football coach Lou Holtz is looking for a touchdown on a sale of his Florida home. Holtz, a supporter of President Donald Trump who will receive the Presidential Medal of Freedom, has just listed his Orlando, Fla., estate for $4.5 million — and he’s making a long toss in hopes of nabbing

It might not be a surprise to hear that the pandemic has effectively shutdown the hospitality market, but now that we were seven months into the pandemic and the travel shutdown, the impact is clear. Since March, occupancy rates have plummeted and ADR declined in step, according to a mid-year report from Integra Realty Resources.

American celebrities have sought to escape the glare of Hollywood for decades, usually by heading to Europe for the summer, or making a quick getaway to the Caribbean. However, in this digital age, famous folks no longer need to be on a short leash for meetings and networking. And with all that extra cash on

The pandemic has forced many companies to adopt remote work policies, and many offices are considering long-term or permanent shifts to remote work. But, what will the transition to remote work look like? In many ways, the bumps and challenges have already been addressed during the early onset of the pandemic, but offices that plan

Fewer apartment households paid the rent by the end of the month since April, though the decrease is only 1.38% year over year amid the COVID-19 pandemic and high unemployment. The National Multifamily Housing Council’s latest Rent Payment Tracker report includes looks at how many renters paid by the end of the month and by

Ron Perelman’s infamous selling spree appears to continue with his palatial Hamptons estate, The Post has learned. The billionaire businessman behind Revlon is entertaining offers for his Hamptons property known as “The Creeks” for around $180 million, sources familiar with the situation said. A Perelman spokeswoman on Friday denied the heavily guarded estate, which sits

A lot has been written about the demise of retail.  In April, UBS projected that 100,000 brick-and-mortar stores could close permanently by 2025, as online sales capture 25% of total retail sales. The Fall 2020 Retail Spotlight Report from Colliers International backs this general sentiment, saying that the need for physical stores is likely to

Standup comedian, actor, author and Emmy-winning reality TV veteran Kathy Griffin hopes to laugh her way to the bank with the sale of her gigantic mansion in L.A.’s ritzy Bel Air neighborhood. The endlessly opinionated, famously sharp-tongued and occasionally polemical insult comic has listed her more-than-13,000-square-foot home at just under $16 million, a small fortune

Even before COVID-19, apartments in some downtown locations were facing pressure from new supply. Eighty percent of 611,000 units under construction are at the top end of the market, according to CoStar Group. “I think we’ve been talking about this on the multifamily side for a while,” says CoStar Portfolio Strategy Senior Consultant Juan Arias.

Deferring capital gains taxes is the top benefit of the opportunity zone model—but it isn’t alone. In fact, 1031 exchanges are a far more familiar concept for most investors, and exchange transactions also allow investors to defer capital gains taxes. For that reason, many real estate owners will likely opt for a 1031 exchange to

For Steffy Degreff, Sept. 1 is a big day. It’s when the Long Beach, NY, resident officially welcomes fall by switching up the décor of her carefully styled home to match the season. The vibe? Cozy, plaid, leafy — and extremely orange. Garlands feature heavily, as do pumpkins. Gourds adorn wreaths, pillows, blankets, knick-knacks. Even

Though the property was featured in Architectural Digest not even six months ago, it seems YouTube sensation Casey Neistat and his jewelry designer wife Candice Pool have already tired of their recently renovated home in L.A.’s seaside community of Venice. The contemporary oasis has popped up for sale with a $3.9 million pricetag, a relatively

While many CRE sectors and product types have floundered after COVID-19 hit, one industry has continued to flourish. In the second quarter, cap rates for dollar stores fell a 12-basis point decrease when compared to the prior year, according to The Boulder Group. There are some long-term concerns for the sector, most notably overbuilding. But

While student housing is facing its share of challenges in the COVID 19-era, one firm is placing a big bet on the sector.  W5 Group, a single-family investment office that makes investments across residential real estate sectors in Europe and the US, has launched a US student housing initiative.  In the student housing area, W5 Group will

COVID-19 is continuing to force corporations into bankruptcy, which could mean further deterioration in office fundamentals. As of Sept. 7, 470 companies have gone bankrupt in 2020, which is more filings than during any comparable period since 2010, according to an S&P Global Market Intelligence analysis. There was some good news as the number of

I am leaving New York next week. Add me to the list. Another tick in the “New York is dead” column. Or maybe in the “Cowards who can’t wait out the pandemic” column. Wag your finger at me or shake your head in disgust. Tut tut. Tsk tsk. Don’t worry. I’m already doing it to

Looks like “The Real Housewives of Beverly Hills” star Dorit Kemsley and her businessman hubby Paul “P.K.” Kemsley have decided they no longer want to live in the nearly 9,000 sq. ft. modern farmhouse-style Encino, Calif., mansion they bought only just a year ago and raved endlessly about on the current season of the long-running

For years, life science companies have made their home in metro areas like Boston and the Bay Area. But Mark Hefner, CEO and shareholder of MGO Realty Advisors, says that is changing. “Major metropolitan cities like Boston, San Francisco, Seattle and San Diego that have been long-established life science hubs are expensive to operate in,”

If a landlord thinks a tenant can survive after the COVID economic crisis passes, they’re usually motivated to work on payment plans, according to Luis Martinez-Monfort, founding partner of law firm Gardner Brewer Martinez-Monfort. “The appetite to work through forbearance from both the tenant and landlord is pretty high because I don’t think landlords believe,

In-unit smart technology is building momentum. RealPage company STRATIS IoT, a technology platform that links apartment smart home systems to personal devices, has partnered with Alexa for Residential through Amazon. The partnership will provide voice access for the STRATIS IoT platform through Alex-enabled devices. As a result, participating residents will have voice control over more

High-flying MCR Development, which launched the retro-styled TWA Hotel at John F. Kennedy Airport, has added another trophy to its lodging portfolio: The fabled Royalton Hotel at 44 W. 44th St., which it snatched for $44.8 million — a 15 percent discount from what it last fetched in 2017. MCR is the sixth-largest hotel owner

Ready to feel old? “Almost Famous” turns twenty today! The beloved semi-autobiographical film helmed by writer/director Cameron Crowe (available for streaming here) debuted at the Toronto International Film Festival on September 8th, 2000. Yep, “it all happened” two decades ago! Besides serving as the first big break for a plethora of young actors, including Kate

In a new report, Cushman & Wakefield indicates that office pricing should recover by late 2022. To get to this conclusion, Cushman & Wakefield presumed US office employment declines by 1.2 million jobs in 2020, Congress passes another fiscal relief bill, the Coronavirus situation begins to resolve by mid-2021 and the historical relationship between job

More than ever, lenders and brokers are relying on hard data on the multifamily real estate market—from analytics to unusual metrics—to maximize returns and mitigate risk, wrote Tim Blackwell, president of Ballpark Impressions, in a blog for RealPage.  “Operators, developers and investors began watching data closely when the current cycle began skidding this spring,” he wrote. Blackwell

DALLAS—More than 9,300 US retail store closures were announced in 2019 according to an analysis by Business Insider. The 2019 closures broke the previous record of roughly 8,000 store closures in 2017. And, at the beginning of 2020, Business Insider confirmed that retailers would close at least 5,100 stores. However, beneath the cloud of uncertainty

On “The Morning Show,” the fictional news anchor played by Steve Carell occupies a sprawling Los Angeles penthouse, which is hitting the auction block auction next month. The two-bedroom, 3½-bathroom unit at 1050 S. Grand Ave. in Downtown LA is 3,900 square feet. The minimum bid for the auction, set for on Oct. 22, is