Gary Barnett doesn’t do many interviews. But it turns out that he has a lot of opinions. The billionaire founder and president of Extell Development shared a few in a rare sit-down Thursday, including: that he should not have to pay millions of dollars to holdout tenants; that it’s wrong to say foreign buyers of luxury apartments are “parking their cash;” that rents are not soaring but returning to pre-pandemic levels; and that developers often
CBRE cast another vote of confidence in flex-office provider Industrious, handing the co-working startup another nine-figure sum. The company announced this week it was investing another $100 million in Industrious. Part of the investment will go towards accelerating international expansion for the co-working company, which recently announced international acquisitions in Asia and Europe. Jamie Hodari, CEO and co-founder of Industrious, said the investment assures the company can “grow on a global scale to meet current
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Activity in New York City’s investment sales market continued to rebound in the first quarter of 2022, but a slowdown could be on the horizon as rising rates drive up borrowers’ costs. Dealmakers bought and sold 582 properties in the quarter, a year-over-year jump of 53 percent, according to a report by Ariel Property Advisors. Those transactions totaled $8.9 billion, a whopping 320 percent increase from the first quarter of last year and roughly in
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