NYC Real Estate News

Earnings redux: Airbnb, CoStar, Redfin 🔥 It could have been worse. That was the takeaway from Airbnb’s first earnings as a public company. Despite the luster of its eye-popping IPO, Airbnb lost $4.6 billion in 2020 and revenue dropped 30 percent year over year to $3.4 billion. The net loss was driven by $2.8 billion in stock compensation related to the IPO, but the pandemic clearly whalloped the travel industry. CEO Brian Chesky used a

The post Airbnb’s first earnings, behind CBRE’s $200M bet on Industrious appeared first on The Real Deal New York.

There are signs that things are beginning to shift in the city. In addition to the hastening of spring, felt in the uptick in temperatures last week, New York is taking baby steps toward a greater...

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Like most retailers, merchants in Midtown Manhattan’s Diamond District have had to grapple with the impact of the pandemic over the past year. But gem deals are still getting done — to the tune of $400 million per day, according to a Bloomberg News estimate from last summer. It’s not just jewels that are trading hands in the neighborhood. In December, the ELO Organization closed on its $110 million acquisition of the Chetrit family’s 15

The post Here’s what tenants are paying at ELO’s Diamond District properties appeared first on The Real Deal New York.

The steel superstructure for JP Morgan Chase's new 1,425-foot supertall headquarters continues to rise on the western half of 270 Park Avenue's full-block parcel as work progresses on the demolition of the company's 52-story former home on the opposite end of the Midtown East lot. Construction workers are busily lifting and welding new steelwork along Madison Avenue between East 47th and 48th Street, where the low-rise podium of the original 707-foot-tall skyscraper formerly known as the Union Carbide Building once stood.

Morgan Lydon was frustrated. The Compass agent had moved from New York to Florida in the spring after realizing that quarantining with a golden retriever in a small apartment wouldn't be practical,...

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Construction is nearing topping out on 109 East 79th Street, a 20-story residential building on Manhattan’s Upper East Side. Designed by Steven Harris Architects and developed by Legion Investment Group, the 210-foot-tall structure will yield 145,000 square feet divided into 32 condominiums. Corcoran Sunshine Marketing Group is handling sales of the two- to five-bedroom residences, which will measure up to 6,000 square feet.

On West 28th Street, where Union Square Events had prepared food for various functions since 2005, the employees—400 of them pre-Covid-19—would squeeze between boxes of supplies to eat lunch. When...

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Nearly 75% of business executives in the New York metropolitan area expect the city to fully recover from the Covid-19 pandemic.  The optimism showed up in a Crain’s online survey of more than 300...

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Ilana Fischer believes in New York, and that’s why she’s determined to operate her snack company in the Big Apple.  Fischer is the CEO of Whisps, which makes the packaged snack of the same name. The...

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The pandemic has been an equal opportunity scourge, ravaging the financial health of cities around the U.S., but none has suffered more than New York. The Big Apple’s precarious financial condition...

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