Real Estate

Those entering into new construction contracts should include custom language addressing the parties’ respective rights and responsibilities related to COVID-19. Many articles and webinars have focused on how traditional contract clauses in existing contracts may respond to COVID-19 issues. The fit is not always clear. Some guesswork is involved and creativity is called upon as square pegs

COVID-19 came on the heels of a glut of office construction in some markets. Now that the realities of the pandemic have sunk in, attention is turning to what will become of that excess inventory.  “You look at San Francisco, and there has definitely been a boom in office construction in the last decade,” says

A Sag Harbor resort found a solution for families that plan to postpone their return to the city — and a way to bolster the hotel’s bottom line during the off-season. Baron’s Cove, facing the picturesque village marina, has launched what it calls “A Key to the Hamptons: A Private Harborview Retreat.” Guests can book

Though she’s still in her 20s, billionaire heiress-turned-Tinseltown film producer Erika Olde (“Home Again,” “Woman Walks Ahead,” “The Female Brain”) is already a veteran player in the high-end Los Angeles real estate market. Now she’s set her sights on pristine Wyoming — records reveal the Cayman Islands native has purchased a 4.27-acre spread in a

It is no surprise to hear that retail leases have stalled during the pandemic. With many store closed or operating at limited capacity and uncertainty about the future of the market, retailers have paused any expansion plans. However, some new leases are still getting done. Essential retailers are continuing to move forward on new leases

While the capital markets are moving again, loan activity has been significantly impacted by the pandemic. Multifamily loan originations will likely fall by 40% this year compared to 2019 activity. “Though the capital markets have certainly been disrupted by the COIVD-19 pandemic, there remains healthy activity and allocations from all major lending sources, albeit with

Teddi Mellencamp is on the move — with some help from Kyle Richards’ family. The “Real Housewives of Beverly Hills” star, 39, is selling her current family home which has been featured prominently on the show. She told fans in a now-deleted Instagram story that the agents for the property are Mauricio Umansky and Farrah

StoneBridge Healthcare has been created by a composite finance group to buy and save distressed hospitals in the US. Funded by a group composed of debt and equity sources including Medical Properties Trust and Oaktree Capital Management, the new company’s goal is to turn around distressed hospitals facing financial crisis after the coronavirus pandemic. Medical

Writer and producer Michah Schraft appears to have celebrated his upwardly mobile professional success with the not quite $1.8 million purchase of a boldly quirky, Tinseltown-tinged home in L.A.’s historic and hipster-fied Dodger Stadium-adjacent Echo Park neighborhood. Schraft , who cut his television teeth on the provocatively named HBO male prostitution series “Hung” and the

A new report from the company Phoenix American says unemployment support has been key in allowing people to pay rent during the coronavirus pandemic. The report details the economic havoc caused by the coronavirus pandemic, noting losses in jobs were “concentrated in lower-wage hourly jobs in sectors such as retail and hospitality.” “Because low-wage workers

Hotel occupancy is likely to decline by 29% over the next 12 months, leading to revenue losses of as much as $75 billion, according to a new study from business strategy outfit Magid and hospitality industry consultant Howarth HTL. While the forecast is driven by anticipated drops in both business and leisure travel, the aversion

ALBANY — Gov. Andrew Cuomo signed an executive order Thursday expanding a coronavirus-related emergency moratorium on evictions and foreclosures of commercial properties until Sept. 20. The move gives business owners heavily impacted by state-ordered closures associated with COVID-19 more another month to meet their rental obligations. “While we have made great progress in keeping New

Despite the pandemic, some retailers are still opening new locations. At the River Landing Shops and Residences, which is west of downtown Miami, Publix, Ross Dress For Less, Burlington Stores, Hobby Lobby and Chase Bank are all slated to open soon.  These stores have some commonalities. Some offer essential services, while others provide harder-to-find items.

In late December, rapper and country-rock star Kid Rock, whose real name is Robert Ritchie (and who sometimes goes by the name DJ Bobby Shazam), expressed via Facebook his frustration with his longtime home city of Detroit. Ritchie grew up in Romeo, Mich., but has long resided in and around Detroit, a city he has

As the economic ramifications of the COVID shutdowns start hitting large property owners, Michael T. Fay, principal, managing director and global head of Avison Young’s asset resolution team, wonders if bigger deals are on the horizon.  “I think we’re going to see some larger portfolios trading,” Fay says. “It will probably be a shifting of

Borrowers holding portfolios of single family rentals that serve as a basis for mortgage-backed securities could improve the precision of performance projections of the loans undergirding them and, ultimately, those bond ratings by supplying more financial information about their holdings, according to Fitch Ratings.  The COVID-19 pandemic has, so far, generally affected renters more than

John Legend wants you to buy all of his house. The musician and his wife, former model Chrissy Teigen, listed their Beverly Hills home for $23.95 million after finding out they’re expecting baby No. 3. The Wall Street Journal first reported the listing. The couple, who already have 4-year-old daughter Luna and 2-year-old son Miles,

Green lending is back, thanks to record-low interest rates and other factors that allow borrowers to retain more loan proceeds and enjoy lower payments. In addition, the early response to COVID-19 interrupted the flow of commercial loans, leaving Fannie Mae and Freddie Mac behind on their respective $100 billion lending caps for 2020. The combination

That he sold a New York City condo earlier this year for almost $600,000 less than the not quite $6 million he paid almost six years ago didn’t seem to deter or affect “How I Met Your Mother” creator and showrunner Carter Bays’ ability to shell out more than $6.8 million, according to a well-sourced

As COVID-19 continues to wreak havoc on all aspects of American life, that new reality is also playing out in the world of the office property sector. According to an Aug. 17 report from Moody’s Analytics, the office property sector had already been experiencing “downward pressure on the usage intensity of office space even before

Industrial prices could set to increase as a result of increased activity and rents during the pandemic. According to a recent survey from RCM/LightBox, industrial players expect rents to increase from 4% to 7%. The asset class has already proven to be resilient during the worst months of the pandemic. As a result, many investors

WeWork’s embattled ex-CEO Adam Neumann and his wife, Rebekah Paltrow Neumann, are continuing their massive real estate sell-off. The couple, who have kept a low profile since Neumann’s September 2019 ouster from the coworking company he co-founded, sold their Westchester County estate for close to its asking price of $3.39 million. The property is at

When we think about how the COVID-19 pandemic has changed the real estate industry one, (frankly huge) question comes to mind: Do we really need offices anymore? And if not, how will the office sector pivot? The same morning that Amazon revealed it would spend $4.1-billion expanding its office footprint, commercial real estate experts from

In today’s brave modern world, social media clout is the highest form of currency. And celebrity capital itself has never been more valuable, with major companies realizing that the easiest way to target the all-important Gen-Z and millennial demographics is through members of their own tribes. With a myriad array of lucrative branding and sponsorship

The next time you visit your physician, your appointment may very well be virtual from the comfort of your own home. Telehealth, or telemedicine, was an emerging part of healthcare delivery long before COVID-19. Now, the pandemic has catapulted the concept into national awareness. Changes in insurance reimbursement have expanded the availability of telehealth, with

1031 exchange demand is driving the majority of transaction volumes during the pandemic. While some new opportunistic capital has entered the market, the majority of investment demand for CRE assets is coming from 1031 exchange buyers. The activity has not only helped to prop up transaction volumes but has also helped to stabilize pricing through

Even US Treasury Secretery Steve Mnuchin is feeling the burn of falling real estate prices. He has just relisted his apartment at 740 Park Ave. — and slashed the asking price more than 20 percent from when the co-op first went on the market in 2018. 740 Park Ave is one of the city’s poshest

Commercial office space hasn’t played a starring role in the drama of the pandemic shutdown of 2020 — yet. That could change, and the head of Trepp’s advisory services has offered some spoiler alerts as to what plot twists could be ahead for office. COVID-19 caused shutdowns immediately slammed lodging and retail sectors, of course,

Let’s hope Jared Watson, the lead singer from rock/reggae/ska band Dirty Heads has a soundproof room in his new, distinctly suburban Costa Mesa home, if he intends on holding some impromptu jam sessions there. The renovated 4-bedroom, 3-bathroom, 2,356 square foot home — which he picked up for $1.3 million — sits in a tightly

Amazon has announced plans to open or significantly expand six tech hubs in Dallas, Detroit, Denver, Manhattan, Phoenix, and San Diego. The investment for the e-commerce giant will total more than $1.4 billion and will create 3,500 new tech and corporate jobs. Perhaps the most notable expansion will be in Manhattan, where Amazon has acquired