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Category Archives: RE News

These were the 10 largest Manhattan real estate loans in September

The top 10 Manhattan loans in September totaled just over $2 billion, up 25% from August, but no single deal broke the $300 million mark. The Manhattan real estate debt market rebounded somewhat in September, but there were few standout deals. The top 10 deals totaled just over $2 billion, up 25 percent from August, but no single deal broke the $300 million mark. The two largest loans both involved retail spaces – one in […]

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De Blasio’s federal PAC gets money from real estate industry and a Trump donor

Mayor Bill de Blasio’s federal political action committee has taken in several donations from the real estate industry, as well as one of President Trump’s major donors. Since July 1, the mayor’s Fairness PAC has raised $234,500 and spent $203,349, according to Politico, citing data from the Federal Election Commission. One such donor is Ukrainian-American businessman Alexander Rovt, who gave the maximum $5,000 to the PAC and has also given money to Trump. “People aren’t […]

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Co-living concept might be finally taking off

Co-living may have reached its maturity phase. The concept is less than 10 years old, but developers are now getting ready to build some of the continent’s biggest new co-living properties, indicating its growing popularity, according to the Wall Street Journal. Starcity, a co-living startup based in San Francisco, agreed to buy a development site in San Jose, California, last week where it is planning a co-living building with 750 units. It also intends to […]

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Chicago is 2nd-most affordable big city to buy a home: report

Chicago is the second-most affordable place to buy a house right now in the United States, and it’s expected to remain buyer-friendly for the next few years. Of the 20 largest cities nationwide, only St. Louis is more affordable, according to data from consulting firm John Burns Real Estate. Crain’s reported the results. Home buying will become increasingly difficult in other major cities, most notably New York, Philadelphia, Washington and Seattle. But the firm sees […]

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BounceX becomes latest digital company to move to World Trade Center

BounceX is ditching Midtown for the World Trade Center. The digital marketing company, officially known as Bounce Exchange, will leave its current headquarters at the New York Times building on Eighth Avenue for One World Trade, where it has signed an 11-year, 79,000-square-foot lease, according to the New York Post. The company will occupy the building’s 74th and 75th floors, and asking rent was $69 per square foot. The lease doubles BounceX’s space and means […]

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Airbnb could soon face tough new restrictions in the nation’s capital

The district council in Washington D.C. could deliver a major blow to Airbnb on Tuesday. The council is expected to vote on legislation that would ban people from renting out secondary homes and limit their rentals of primary homes to 90 days per year if the owner is not there, according to Reuters. If the owner is there, there would be no time restrictions. The legislation unanimously passed in a preliminary vote, and if the […]

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SL Green clears out 609 Fifth for WeWork

Another day, another new lease for WeWork. The co-working giant is leasing all 139,000 square feet of office space at 609 Fifth Avenue from SL Green Realty, according to the New York Post. Asking rent was $85 per square foot, and WeWork will begin occupying the building in November. SL Green had previously served as a lender to the building’s prior owner Jeff Sutton but bought him out a few years ago. The building is […]

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BIDs come out against City Council’s proposed commercial rent bill

A group featuring some of the city’s most prominent business improvement districts is coming out against the City Council’s controversial commercial rent control bill. The bill is known as the Small Business Jobs Survival Act, and it would grant commercial retail tenants 10-year lease renewals if they meet the terms of their existing contracts. A version of the bill was first introduced more than three decades ago, and the council’s Committee on Small Business plans […]

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Corcoran and Brown Harris Stevens are changing office spaces in Southampton

In an office space shuffle, the Corcoran Group and Brown Harris Stevens are shifting locations of their Southampton outposts. Corcoran will move to 24 Main Street — the office Brown Harris Stevens currently occupies — in the first quarter of 2020, the company said. Corcoran has been in its current office at 88 Main Street for more than 18 years. The new location, which spans nearly 2,600 square feet, is an “opportunity to bring increased […]

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The Closing: David Rockwell

David Rockwell is perhaps best known for his collaborations with celebrity chefs and restaurateurs like Danny Meyer and Nobuyuki Matsuhisa, whose restaurants he’s designed around the globe. But the architect’s Manhattan-based firm, which also has offices in Shanghai and Madrid, has designed 650 restaurants, hotels, condos, stage sets and even playgrounds worldwide. About 150 of those projects are in New York. He has two dozen Broadway sets to his name, including those for blockbuster shows […]

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