For years, Zillow denied it had plans to become a brokerage. But the listings giant is doing just that, in a move it says will streamline its iBuying operation. Starting in January 2021, the company said salaried agents will work with sellers who want cash offers for their homes through Zillow Offers. In those transactions, Zillow Homes will be the broker of record, the company said. To start, Zillow agents will work with homeowners in
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A year after Amazon’s stunning defeat in Queens, Industry City’s capitulation in Brooklyn marks a new low point for the real estate industry. The owners of the 35-acre Sunset Park campus withdrew their rezoning application Tuesday night as mounting political opposition doomed its chances in the City Council. The decision makes clear that Amazon’s abandonment 19 months ago of a multi-billion-dollar headquarters planned for Long Island City was not an outlier. For decades, the promise
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Burlington Coat Factory has leased a big space in Brooklyn and is already gearing up for year-end holiday sales. The 45,000-square-foot store will encompass a former Staples and 24-Hour Fitness at Flatbush Center, according to Marcelo Klajnbart of ACHS Management, a division of Alex Adjmi’s A&H Acquisitions, the property’s owner. Burlington already has a similarly large store in Kings Plaza mall that opened in 2018 and another on Atlantic Avenue. The new store, at 2163
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When tenant activists charged State Assembly Speaker Carl Heastie’s office this month — demanding he back their cancel-rent bills — the leader of New York’s people’s house gave the gathered crowd an impromptu talking-to. “The bill you’re asking for is not something we can do alone,” Heastie said, of a measure sponsored by Assembly member Yuh-Line Niou and Sen. Julia Salazar to cancel rent. The bill, which has 11 Senate and 32 Assembly sponsors, has
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When R/GA moved its New York headquarters to Brookfield Property Partners’ 5 Manhattan West, some praised the global advertising agency for adopting state-of-the art technologies entirely controlled by apps. The new 173,000-square-foot office was designed to attract the best talent, competing with tech firms such as Twitter and Facebook, Bob Greenberg, the company’s founder, told Forbes in 2016. A few months after Covid-19 hit nearly every industry, however, the Interpublic Group subsidiary was forced to
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