Bank’s multifamily delinquencies skyrocket 990%Bedraggled by rent-regulated loans, NYCB sees storm clouds ahead
ResidentialNationalWhat we know about Elliman’s abrupt transition of power and new CEOExit of longtime chairman, CEO Howard Lorber elevates board director Michael Liebowitz
ResidentialNationalElliman cuts Vector jet lease amid Lorber’s retirement Corporate perk had escaped cost-cutting campaign before longtime chairman’s sudden exit
ResidentialSouth FloridaHammocks ex-president’s uncle charged in alleged massive fraud schemeIvan Dario Diez posed as a vendor and received $172K, but did little to no work on the West Kendall property, prosecutors say
DevelopmentChicagoBank OZK writes down $21M of debt on stalled megaprojectReduced loan balance tied to Sterling Bay’s megadevelopment by 10 percent
DevelopmentSouth FloridaHomeowners’ secret deal to support Barry Sternlicht and partners’ plan to redevelop Standard Miami Beach creates ethical dilemmaCommissioner David Suarez claims $1M agreement with Belle Isle Residents Association violates city code prohibiting fees contingent on project approvals
CommercialChicagoMeet Michelle Herrick, JP Morgan’s head of commercial real estateChicago-based executive scored the type of position typically held by men in New York
CommercialNew YorkFamed midtown Friar’s Club heads to foreclosure sale NYC spot for celebrity roasts has faced years of financial troubles
CommercialSouth FloridaPatrick Carroll jailed in Wyoming, wanted in TampaIn latest bout of crime-related trouble, controversial multifamily syndicator is being held while facing warrant for alleged stalking
ResidentialNew YorkHere’s where office-to-resi conversions are heating up in NYCWith a housing shortage, more and more investors are looking to convert offices
CommercialTexasDallas, Houston losing $3B a year in office rent revenuesProblem bigger than real estate, as vacancies will affect cities’ bottom lines
South FloridaWho’s on stage at TRD’s annual South Florida Forum, Nov. 6-7From office experts to brokerage behemoths, expect the industry’s top names
Oct 25, 2024Bank’s multifamily delinquencies skyrocket 990%Bedraggled by rent-regulated loans, NYCB sees storm clouds ahead
Oct 25, 2024To avoid default, New York college puts campus on marketDeclining enrollment forcing Metropolitan College to unload more property
Oct 24, 2024As broker fee bill heads to a vote, some say latest version is worseRevisions by Council member Chi Ossé draw ire from REBNY, agents
Oct 25, 2024Buyer of allegedly neglected office building gets tax breakFormer Brookfield execs claimed subsidy was needed
Oct 25, 2024Xin forks over unsold Hell’s Kitchen condo units for $50MChinese developer had been fighting foreclosure by lender BH3
Oct 25, 2024Benedict pays $47M for Queens rental portfolioThree buildings include 433 units, nearly all rent-stabilized
Oct 25, 2024David Martin’s Terra plans beachfront Key Biscayne condo developmentFirm is under contract to acquire Silver Sands, plans 14-story, 56-unit luxury project
Oct 25, 2024Vanderbilt scores approval for $520M West Palm Beach campus Palm Beach County voted unanimously to gift university a $46M assemblage for project
Oct 25, 2024Mark Bellissimo, partners buy back Wellington International showgroundsSite is critical to Bellissimo’s planned 600-acre Wellington development
Oct 25, 2024Cayon, Easton ring up $17M Walmart-anchored shopping center purchase in HomesteadJV joins wave of buyers scooping up grocery retail sites across South Florida
Oct 25, 2024Link lightens South Florida portfolio, sells Fort Lauderdale mixed-use building for $19MMiami-based firm sold office and retail property to Jewish Culture High School
Oct 25, 2024Resi roundup: Long-haul trucking, entertainment bosses buy South Florida homesDeals spanned Miami to Palm Beach Gardens, ranged in price from $8.5M to $12.7M
Oct 23, 2024Industry writes big checks for Hochman in LA district attorney raceCaruso, Worthe, Kilroy and other heavyweights join challenger’s donor list
Oct 23, 2024Former home of Britney Spears, Brittany Murphy asks $18MSits next to LA’s priciest on-market deal this year
Oct 23, 2024Dutch television mogul lists Beverly Hills chateau for $32MReinout and Danielle Oerlemans renovated estate overlooking LA Country Club fairway
Oct 23, 2024Madison Realty unveils proposed apartment highrise in Santa MonicaFormer builder’s remedy project in Neil Shekhter’s portfolio would feature 422 units
Oct 25, 2024How affordable in Long Beach?Nonprofit developer seeks trio of 100-percent affordable buildings west of airport but leaves income levels unspecified sofar
Oct 25, 2024Federal judge denies UCLA bid to delay affordable housing Decision opens door for up to 1,300 more homes on West LA VA Campus
Oct 23, 2024Bay Area office sales volume up to $1.8B as prices continue to come down Number of deals nearly doubled compared to last year, according to Yardi data
Oct 23, 2024Florida startup aims to build “Italian hill town” in Sonoma CountyEsmeralda Land wants to buy 266 acres in Cloverdale for Tuscan-style village and hotel
Oct 22, 2024SF multifamily owner, political donor sells Marin estate for $24MThomas Coates logs the priciest sales of the year in upscale county
Oct 23, 2024Mayoral candidates seek to save San Francisco’s struggling DowntownIs the key issue two-few commuters, empty storefronts or lack of public safety?
Oct 25, 2024SF sues Bayview warehouses owner for allowing 6,000 pot plantsDavid Chi-Yu Lai of P.A.A. Property faces $168K penalty for allowing cannabis grow
Oct 25, 2024Westbank, Urban Community eye trio of housing towers in Downtown San JoseJoint venture unveiled look of 30-story highrises in SoFA District, after pivot from offices
Oct 24, 2024Bank OZK writes down $21M of debt on stalled megaprojectReduced loan balance tied to Sterling Bay’s megadevelopment by 10 percent
Oct 23, 2024Distress hits CRG’s Uptown asset amid urban multifamily slumpDeveloper tried to sell apartment highrise ahead of maturity date on $39M debt
Oct 24, 2024Meet Michelle Herrick, JP Morgan’s head of commercial real estateChicago-based executive scored the type of position typically held by men in New York
Oct 24, 2024Chicago home sales drop again, but prices are risingHome prices expected to increase 14 percent in fourth quarter compared to last year
Oct 25, 2024IRA Capital snags medical building from Ares after foreclosurePrevious owner Russland Capital Group defaulted on $76.3 million for the Rush University Medical Center and adjacent apartments
Oct 25, 2024$7.5M mansion hits market in teardown-friendly Lincoln ParkCould attract buyers weary of post-recession modern gray who want to renovate
HoustonOct 24, 2024Hines pours $20M into law firm’s buildout as landlords vie for tenants Clifford Chance’s 60K sf space in Texas Tower will cost $330 per sf
HoustonOct 24, 2024Houston leads nation in homebuilding due to demand, easygoingnessRapid population growth, uncomplicated regulatory environment keep builders busy
DallasOct 23, 2024How Hillwood’s industrial head is gearing up for the AI datacenter boomWith the rise of large language models, artificial intelligence firms have become some of the biggest industrial tenants in DFW
AustinOct 22, 2024Turnbridge Leaves Four Seasons Lake Austin developmentFirm had taken over as development manager in June following equity investment
Oct 25, 2024Nate Paul still fighting 10-day jail sentence in civil court caseReal estate investor also embroiled in federal criminal case that accuses him of 12 criminal counts, including misleading investors
DallasOct 25, 2024Cousins tosses hat in Y’all Street with $138M office loan buy Saint Ann Court is half-mile from future home of Goldman Sachs
Oct 20, 2024Developers not afraid to build in high-risk areas, despite more fires and floodsBut insurance experts caution lenders that the stakes are getting too high
Oct 18, 2024M&T profits rise as rates and CRE exposure fallRegional ral estate lender cuts loss reserves, anticipating fewer defaults
Oct 17, 2024Blackstone’s Schwarzman: Real estate up-cycle “happening now”Investment giant’s net income jumps as it reaps rewards on data centers
DenverOct 25, 2024Kroenke moves forward on retail village around Ball Arena in DenverRedevelopment of 70-acre parking lot to include 6K homes, 800 hotel rooms, shops and restaurants
Los AngelesOct 25, 2024How affordable in Long Beach?Nonprofit developer seeks trio of 100-percent affordable buildings west of airport but leaves income levels unspecified sofar
New YorkOct 25, 2024Xin forks over unsold Hell’s Kitchen condo units for $50MChinese developer had been fighting foreclosure by lender BH3
Los AngelesOct 25, 2024Federal judge denies UCLA bid to delay affordable housing Decision opens door for up to 1,300 more homes on West LA VA Campus
ChicagoOct 25, 2024$7.5M mansion hits market in teardown-friendly Lincoln ParkCould attract buyers weary of post-recession modern gray who want to renovate
San FranciscoOct 25, 2024Westbank, Urban Community eye trio of housing towers in Downtown San JoseJoint venture unveiled look of 30-story highrises in SoFA District, after pivot from offices
ChicagoOct 25, 2024IRA Capital snags medical building from Ares after foreclosurePrevious owner Russland Capital Group defaulted on $76.3 million for the Rush University Medical Center and adjacent apartments
South FloridaOct 25, 2024Link lightens South Florida portfolio, sells Fort Lauderdale mixed-use building for $19MMiami-based firm sold office and retail property to Jewish Culture High School
HoustonOct 25, 2024Downtown Houston+ promenadeNonprofit Downtown Houston+ leading charge for project that would close seven blocks to cars, offer $50K to retail operators
ChicagoOct 25, 2024Financial firm lists two floors in Tishman Speyer office towerSublease availability has decreased to 6.8M square feet after a few big deals, but that’s still double the pre-pandemic amount
New YorkOct 25, 2024Benedict pays $47M for Queens rental portfolioThree buildings include 433 units, nearly all rent-stabilized
South FloridaOct 25, 2024Cayon, Easton ring up $17M Walmart-anchored shopping center purchase in HomesteadJV joins wave of buyers scooping up grocery retail sites across South Florida
South FloridaOct 25, 2024Mark Bellissimo, partners buy back Wellington International showgroundsSite is critical to Bellissimo’s planned 600-acre Wellington development
AustinOct 25, 2024Another mixed-use project proposed near Endeavor, Related sitesRogan Giles Jr.’s firm wants zoning for office, retail
South FloridaOct 25, 2024Vanderbilt scores approval for $520M West Palm Beach campus Palm Beach County voted unanimously to gift university a $46M assemblage for project
HoustonOct 25, 2024$20M office, retail development to start in high-distress marketY&K Real Estate plans to deliver 190K sf project in Westchase
New YorkOct 25, 2024Tesla leases 150K sf in Queens 10 years after deal limiting growthFormer retail center and multiplex had been set for demolition
South FloridaOct 25, 2024David Martin’s Terra plans beachfront Key Biscayne condo developmentFirm is under contract to acquire Silver Sands, plans 14-story, 56-unit luxury project