Shoppers hitting Manhattan for luxury goods should set their eyes downtown. A slew of upscale brands have recently opened outposts away from the traditional Fifth Avenue and Madison Avenue hubs, the New York Post reports, instead turning towards Soho and the Meatpacking District. The companies are taking advantage of lesser retail rents and the opportunity to pivot from e-commerce to physical retail as New York emerges from quarantine. Among the companies to open stores in
UPDATED Oct. 26, 2021, 2:12 p.m.: Just when you think things cannot get any crazier at Brooklyn’s swankiest hotel, they do. Brooklyn developer Zelig Weiss has made an all-cash offer to buy the William Vale hotel as he battles a lawsuit alleging he diverted money from it. Weiss submitted proposals Oct. 22 to buy equity interests in the hotel along with the debt held by Israeli bondholders for $156 million. On Oct. 25, Weiss upped
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Homebuilding giant Lennar and Texas construction startup Icon are teaming up to build 100 3D-printed homes in a massive vote of confidence for the technology amid a nationwide home shortage. Icon’s proprietary Vulcan technology allows the company to create homes up to 3,000 square feet it says outlasts traditional building methods and materials. The Wall Street Journal first reported the project, noting that while Icon is printing the wall system, Lennar can construct the home’s
Records continue to fall in the industrial real estate market, powered by an e-commerce boom accelerated by the pandemic. On Long Island, the industrial real estate vacancy rate hit 2.6 percent in the third quarter, according to data from Cushman & Wakefield. Long Island Business News reports the figure is a record low in the area’s recent history. Prior to the pandemic, Long Island’s industrial vacancy rate was 4.5 percent. It has since dropped by
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