Nikhil Krishnan's Out-of-Pocket uses memes and humor to explain industry trends
New York’s office market is still trying to find its footing after the pandemic crushed it. While some newer buildings are attracting tenants anew, older buildings are being forgotten. The stretch along Third Avenue from 42nd Street to 59th Street is becoming a stark example of the downside to the city’s ongoing flight to quality, Bloomberg reported. While Savills pins the city’s office vacancy rate at 19 percent, it’s 29 percent on the 17-block corridor
The post Third Avenue: The land of “leave-behind” appeared first on The Real Deal New York.
A short-term-rental company leases the Tuscany Hotel, and a trio of Bronx industrial sites sells
A putrid smell has allegedly caused financial damage to the store
Luxury residential real estate has been roiled by economic uncertainty in recent months, but high-end contracts in Manhattan appear to be holding steady, staying on par with previous years. The borough saw 16 contracts signed last week, a tick down after the market closed out the summer with a few high notes. Historically, Manhattan’s luxury contracts have struggled and fallen flat early in the third quarter, but this September is falling in line with previous
The post Manhattan luxury contracts hold steady in September appeared first on The Real Deal New York.
The developer's argument is that tenants should be punished and not landlords
This is the first challenge to an airline partnership since Biden called out the industry last year for potential violations
The latest shortage wreaking havoc on the country? Land. Developers are increasingly struggling to find suitable land for residential developments, the Wall Street Journal reported. Land-use restrictions such as zoning and infrastructure issues are among the challenges making it difficult to find sites near major metropolitan areas. With scarcity comes inflated prices. Morris Davis, a professor of finance at Rutgers Business School, pegs national residential land to cumulatively be worth more than $20 trillion. Davis
The post Zoning, infrastructure limits are squeezing US land supply appeared first on The Real Deal New York.