Real Estate

As mall stores have closed during the COVID-19 outbreak, some landlords have found a new, surprising source of revenue—shopping center parking lots. CNBC reported that Brookfield Properties inked a deal with Kilburn Live to turn some of its mall parking lots into drive-in theaters that could host movies and virtual concerts.  With conventional theaters and

Lease concessions for existing retail tenants have evolved since the onset of the pandemic. Once hopeful landlords offering lease deferrals to retail tenants have now been more flexible in increasing concessions as the pandemic wears on. In some cases this includes conditional rent abatement for tenants and new lease deals. “In my experience, in the

The iconic Bryant Park Hotel is checking out of its long-time home on West 40th Street, The Post has learned. The entire landmarked building, including popular ground-floor restaurant Koi and underground lounge Celon, is being offered as “boutique” office space by Philips International, the agent for owners Philip Pilevsky, Raymond Gindi and Joseph Chehebar. All

Goldman Sachs Merchant Banking Division is buying a stake in a 46-asset last mile industrial portfolio owned by Dalfen Industrial. The portfolio of over 6.3 million square feet caters to e-commerce-oriented tenants and is located in such metro areas as Atlanta, Dallas, Chicago, Orlando, Phoenix, Raleigh, Houston, Tampa, Baltimore, Minneapolis, Cincinnati, Columbus, Reno and Jacksonville.

Having completed a comprehensive restoration and renovation of a gigantic late 19th century Victorian mansion in L.A.’s sedate and wicked rich Windsor Square neighborhood — more on that in a minute, tattoo queen and reality television personality turned cosmetics tycoon and budding vegan shoe purveyor Katherine von Drachenberg, better known as Kat Von D, listed

Office properties will see a host of changes over the coming months and even years as the world adjusts COVID-19.  Joe Brady, CEO of the Americas for The Instant Group, sees the implementation of technology-enabled by the Internet of Things (IoT) accelerating a host of innovations, including UV lighting, safety dividers and sensor-enabled fixtures for

Amsterdam (right): “Investors are more optimistic, as there is more information in the market and a better understanding of where capital allocations will go and how debt markets are operating.” WASHINGTON, DC—If COVID-19 didn’t halt the plans of commercial real estate investors, it definitely fogged up their view. The latest Investor Sentiment Survey by Colliers

It was a trip to Target in April that made Vida Cornelious realize she needed to start her backyard renovation sooner rather than later. “People were going crazy buying outdoor stuff,” recalls the Harlem resident. “The little bit that was in the store was almost gone.” Plus, it was already clear that New York City

Before the pandemic hit, many retail landlords saw gyms as a lifeline.  “A lot of soft goods retailers that were big anchors of shopping centers have closed their doors as they’ve been impacted by E-commerce,” says Nick Banks, principal, managing director and global leader of Avison Young’s retail affinity group. “Pier One is an example.

It’s not quite a castle fit for Diana Prince, but Hollywood film director Patty Jenkins (“Monster,” “Wonder Woman,” “Wonder Woman 1984”) and her author husband Sam Sheridan have paid nearly $6.4 million for a snazzy home in Santa Monica. Newly renovated and with about 5,400 square feet of living space, the five-bedroom abode sits on

Without a doubt the pandemic has upended commercial real estate. What were once solid tenants and asset classes have been thrown into doubt as social distancing has forced people to remain at home. In response, new practices—such as a permanent shift to remote work—once seen as unlikely are now being seriously contemplated by many companies.

Happy Returns’ return bars are proving to do more than handle reverse logistics returns for ecommerce retailers. New data from the company shows that these return stations—which accept in-person returns of goods purchased online—are helping to drive in-store shopping. Retailers with return bars saw a 6.3% increase in store revenue and a 16.8% increase in

Alan Steinfeld is finally coming clean. The video producer and YouTube host has a bathtub in his East Village kitchen — and he’s gleefully soaked up the unusual amenity since 1980. That year, Steinfeld nabbed the sixth-floor walk-up for the bargain price of $190/month. His tub was an oasis in a neighborhood that still felt

While the COVID-19 shutdowns have hit a lot of real estate sectors hard, Pratima Damani, CEO and founder of SP Group, doesn’t think housing will experience the same level of distress. “We feel that structurally the housing market is in a sound position today,” Damani says. “If you look at all the underlying factors for

Are you currently shopping for a multimillion-dollar Calabasas home? Have you ever felt the deep and unsettling urge to live inside a Pepto-Bismol bottle, or perhaps a wad of chewing gum? Jeffree Star has just the place for you! Despite remaining wig-deep in unending dramatics that engulf the wacky world of social media stardom, the Lamborghini-driving YouTube

Brad Moulder, senior director at Stan Johnson Co., recently chatted exclusively with GlobeSt.com about all things net lease, including why c-stores are attractive to investors and why this particular sector will continue to be one of the most sought after in the net lease space. GlobeSt.com: Convenience stores and gas stations have been deemed essential

After the Internal Revenue Service extended the deadline for 1031 exchange buyers to commit to deals, there was a spike in net lease transactions in June. When the sales numbers come out for July, there could be even more commitments. But now that deadline, which was July 15, passes, what happens to 1031 sales, especially

Julianne Moore fled her former modest Montauk country cottage for a gated mansion there, sources say, after she once found a drunken stranger passed out on her couch. East End sources recounted to Page Six that the Oscar winner’s previous Hamptons abode was a humble 1,000-square-foot cottage with three bedrooms, which she bought with director

“We are not in a typical recession,” said Christopher Thornberg, founder of Beacon Economics, at Financial Partners Credit Union’s 4th Annual Economic Forum last week. In his presentation, Thornberg painted a picture that the economic dislocation is not as severe as many fear, and in fact, the hysteria, as he describes it, it unwarranted. As

It’s been only four years since Fifth Harmony‘s “Work from Home” went top five on the Billboard Hot 100, solidifying the band’s status as the most successful girl group of the 2010s. But that catchy pop ditty feels like a lifetime ago when viewed through the lens of Normani‘s career trajectory. Back in 2016, Normani

Senate Republicans are expected to unveil a $1 trillion coronavirus aid bill on Monday that will include a few key measures that will directly affect the commercial real estate industry. One of these measures is an overhauled unemployment benefit that would pay 70% of a person’s former wage, instead of the current $600 weekly benefit.

Chevaillier asks the critical question for investors: “Should you make the bet now that situations are about to stabilize?” “The biggest unanswered question with the CARES Act and the $600 additional dollars per week in unemployment is if it will be extended,” Flanigan says. SEATTLE—It’s a peculiar economic time. COVID-19 seemed to be receding, then

One man’s trash is another man’s treasure: This spring and summer, the adage rings especially true. The hotter months were always peak times for Big Apple move-ins and -outs. But standard relocations coupled with apartment purges by those fleeing the city’s COVID-19 outbreak have created a gold mine of curbside gems put out for the

In July, apartment rent collections decreased nominally. After an initial drop in April, rent collections have remained steady through the pandemic, with approximately 30% of renters unable to make rent payments. In July, payments fell again with 32% of renters unable to make payments, according to a survey from Apartment List. Compared to June, non-payment

Though she bought it only just over a year ago for $1.75 million, Marisol Nichols, best known for her roles on “Riverdale” and “24,” has flipped a contemporary ranch house in L.A.’s once overlooked but now increasingly popular and ever-more pricey Valley Village area back on the market with Julianne Williams of Compass at just

Many landlords are updating property health and safety requirements to comply with new local and state regulations. In most cases, interior property alterations will be the tenant’s responsibility, but some leases require that costs be split between the landlord and the tenant. When adding new requirements to the lease, Dan Villalpando, a partner at Cox,

MRI Software says there’s an on-going rise in the use of card payments from residents of market-rate apartment units.  With the increase in card payments, MRI Software credits the rise to one of two elements — “credit card fee waivers from landlords or residents’ struggles with cash flow,” according to a news release. Brian Zrimsek,

New Yorkers are fleeing the city at record rates — with many vowing never to return — and real estate in the Hamptons, Catskills and New Jersey is skyrocketing to previously unseen high prices. But many people, balking at a $50,000-a-month rental in the Hamptons, and with the newfound ability to work from home anywhere

The rent is too high. Anyone living in a major US would most likely agree. Seems the pandemic and its related fallout have spurred action on that front, both in rental costs and where those rents are being paid.   US mutifamily rents decreased by $2 in June, down to $1,457, and year-over-year growth was in

Anders Holm, the writer and sketch comic who’s probably best-known for starring in Comedy Central’s “Workaholics,” — a show he also co-created and co-wrote — has significantly upsized his Los Angeles residential circumstances with the $3.5 million purchase of a stately home in the quaint city of South Pasadena, property records reveal. Built in 1926,