Stressed stocks. Distressed assets. Rigid regulatory environments. Inflationary roller-coasters. The turbulent tech, financial, and political landscape has thrown real estate’s future into question. But it’s in troubling times that the next generation of all-star investors and development geniuses are born. Think you might be one of them? Join us at Future City 2023. The Real Deal’s staff will be back at Baha Mar in the Bahamas from March 5 to March 7, 2023. Future City
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A Bjarke Ingels-designed production studio is coming to Red Hook as demand for soundstages heats up across the city. Brooklyn-based Samson Stages is seeking to convert a warehouse at 744 Clinton Street into a 330,000-square-foot studio and soundstage complex, The Real Deal has learned. The $400 million waterfront project will also include a public park. The design by Bjarke Ingels Group involves eight stacked stages with green terraces, which can be developed on the property
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Rent is in the eye of the beholder. In the tri-state area, at least. Compared with a year ago, tenants’ monthly cost is higher in most tri-state markets, according to a Zumper analysis of active listings. But it’s cheaper than it was a month before. Take New York City. Last month, the median asking rent for a one-bedroom apartment was $3,690, easily the most among the markets studied. That was up 13.2 percent year-over-year, but
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Lingering uncertainty in New York City’s office market and a virtual moratorium on new hotels allowed a self-storage deal to top the list of 2022’s largest real estate loans. The 10 largest financing deals amounted to $8 billion, on par with 2020’s total but behind the $10.9 billion lent in 2019 on the 10 biggest projects. The five largest loans of 2021 totaled $7.2 billion. The nation’s largest office-to-residential conversion made the list, as did
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It was a blank canvas for new office space, until it got stretched a little too tight. A nearly finished boutique office building in Chelsea’s art district is headed for a takeover, most likely by one of its lenders, unless the owner can stave off a pending foreclosure sale. An auction for the eight-story warehouse-to-office conversion at 541 West 21st Street, dubbed “The Frame,” is set for Feb. 14, according to marketing materials seen by
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