Equitable Life Insurance is moving its New York office by three blocks. The financial company will take 130,000 square feet at Fisher Brothers’ 1345 Avenue of the Americas, Commercial Observer reported. It will vacate its current location at 1290 Sixth Avenue, a 43-story office tower owned by Vornado Realty Trust and the Trump Organization, Commercial Observer reported. Equitable will move into its new office in 2023. The exact length of the new lease was not
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UPDATED, Mar. 1 2021, 1:15 p.m.: April Fool’s Day came a month early for New York’s biggest real estate industry group and a City Council member, who were targeted by a “cancel rent” cyber prank. A bogus website mimicking that of the Real Estate Board of New York went live on Monday, claiming that the trade association had canceled rent at its members’ properties. The fake was immediately seized upon and disseminated by a tenant
Manhattan’s luxury market is on a four-week streak the likes of which it has not seen since 2015. In February, 144 homes asking more than $4 million — or $1.18 billion altogether — went into contract in the borough, according to Olshan Realty. The last time the market had such a month was in early 2015 when 138 properties asking $1.2 billion went into contract. Last week alone saw 40 contracts inked, according to Olshan’s
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After an awful year for much of the real estate world, executives see full recovery not happening this year or even next, yet are optimistic about their own firms’ immediate future. A survey of real estate executives found 85 percent see 2021 as a year of opportunity for their companies, but 70 percent said that the commercial real estate sector will not return to pre-Covid levels until at least 2023. “You scratch your head,” said
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New York’s road to economic recovery is going to be long, but city officials want to speed things up by making Covid-19 tests easier to access. The New York City Economic Development Corporation, which bolsters economic growth in the city, plans to work with researchers from Columbia University to produce a rapid Covid test that would be available to the city directly, the Wall Street Journal reported. The group plans to award $164,000 to Dr.
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