Churchill loses Penn Plaza office building to foreclosure
Property goes for just $16M, 25% of the cost to build it
Marathon Asset Management’ Bruce Richards with 263 West 34th Street (LinkedIn, Google Maps, Getty)
Top stories
- Adams wants to scrap parking mandates in new resi projects
- Elliman, top agents named in Section 8 discrimination suit
- Distressed CRE loans surge nationwide
- Axos Bank claims default on 132-unit Van Nuys senior complex
- Tupanjac’s last-second bankruptcy scuttles $16M Highwood foreclosure sale
- RE/MAX paying $55M to settle brokerage commission lawsuits
- Cut and run: Rent-stabilized landlord sells at 44% haircut
- No surprise! Boucher, Major Food Group on track to win Nikki Beach Club bid
- After two Tides workouts, loss expectations raised
- Somerset, Meadow hand Midtown office building to Fortress
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Politics
New York
The Daily Dirt: Adams tackles NYC’s zoning code
Analysis of New York’s top real estate news
Commercial
New York
Walter & Samuels faces Midtown foreclosure after WeWork split
Landlord defaulted on a $77 million loan
Politics
Texas
Favor fluency: Ken Paxton and Nate Paul speak the universal language of real estate
Friendship isn’t illegal, but it sure can look suspect
Residential
Austin
Jerry Jones’ nephew Jerry Mooty Jr. leads @Properties Christie’s Austin expansion
Luxury brokerage will open this fall with Romeo Manzanilla as principal
Commercial
San Francisco
Downtown SF Partnership rethinking downtown doom loop boom loop
Landing at Leidesdorff offers pilot project to turn “doom loop” into “boom loop”
Development
New York
Judge dismisses challenge to Hochul’s Penn Station plan
Vornado’s development is already on pause
Residential
National
Climate insurance bubble in danger of popping
Home insurance costs could skyrocket when policies catch up to risks
New York
Sep 22, 2023
Churchill loses office building near Penn Station to foreclosure
Property goes for just $16M, 25% of the cost to build it
New York
Sep 21, 2023
Eklund-Gomes team launches “spunky” AI assistant
Douglas Elliman team founders celebrated “rebranding” led by Maya
New York
Sep 21, 2023
Walter & Samuels faces Midtown foreclosure after WeWork split
Landlord defaulted on a $77 million loan
New York
Sep 22, 2023
The Daily Dirt: Adams tackles NYC’s zoning code
Analysis of New York’s top real estate news
New York
Sep 22, 2023
Apollo president pitches “marshaling resources” around CRE
James Zelter touted lending opportunities amid downturn
New York
Sep 22, 2023
Charles Cohen’s 3 Park Ave at risk of downgrade
Occupancy rate drops to 54%, rental income down 40% from 2019
South Florida
Sep 22, 2023
Defending the castle: Demand rising for privacy and security in South Florida
Agents say luxury buyers increasingly want gated communities, private police forces and 24/7 vigilance
South Florida
Sep 21, 2023
“Hard to appreciate”: City board slams Lalezarian’s three-tower design at Miami Worldcenter
Still, project is approved, as well as Abbhi Capital’s and another proposed for Edgewater
South Florida
Sep 21, 2023
CrossCountry Mortgage chief Ron Leonhardt sells waterfront Fort Lauderdale mansion for $30M
Leonhardt bought the 9,500 sf house for $23M in 2021
South Florida
Sep 21, 2023
No surprise! Boucher, Major Food Group on track to win Nikki Beach Club bid
City manager Alina Hudak and evaluation committee recommend city commissioners approve new lease with politically connected joint venture
South Florida
Sep 22, 2023
South Florida by the numbers: Football lives here
South Florida
Sep 21, 2023
Orion pays $58M for Dadeland retail plaza and office building
Miami-based firm acquired The Greenery Mall from Cofe Properties
Los Angeles
Sep 21, 2023
Axos Bank claims default on 132-unit Van Nuys senior complex
Developer Landmark View falls behind on $25.5M mortgage
Los Angeles
Sep 21, 2023
“Their personal piggy bank”: Chinese RE firm accuses Cole Harris of siphoning millions
Former CA Lt. Governor candidate allegedly used Chinese bank loan to fund luxurious lifestyle
Los Angeles
Sep 21, 2023
Olympic-Barrington Partnership plans to build 51 apartments in Studio City
West Hollywood developer would demolish a 1,500 sf home built in 1940
Los Angeles
Sep 21, 2023
Veterans’ lawsuit seeking homes at the VA West LA campus may go to trial
Judge issues tentative ruling after rethinking “the entire jurisprudence”
Los Angeles
Sep 22, 2023
Builder’s remedy: “The walls are closing in on cities”
Developer Leo Pustilnikov speaks of how the courts will save projects at TRD’s LA Forum
Los Angeles
Sep 20, 2023
Emerald Bay deal may take record for priciest PSF in Orange County
Laguna Beach deal earlier this month costs $15,700 PSF
San Francisco
Sep 21, 2023
Rethinking downtown San Francisco, one alleyway at a time
Landing at Leidesdorff offers pilot project to turn “doom loop” into “boom loop”
San Francisco
Sep 21, 2023
Marshy private island in San Francisco Bay goes up for sale at $75M
Solano County listing appeals to Silicon Valley billionaires hoping to build new city
San Francisco
Sep 21, 2023
Archway Equities and Virtú Investments partner on $74M San Jose apartment deal
Sale of 190-unit community the latest in a string of San Jose multifamily sales
San Francisco
Sep 21, 2023
TimeSpace Group wants to convert historic SF movie theater into homes
Developer and city cut deal to turn the Alexandra Theatre into 76 units
San Francisco
Sep 22, 2023
Meet Alan Dones, co-developer of Oakland’s $5B Coliseum project
SUDA founder, part of all-Black consortium, to create “master strategy” for site
San Francisco
Sep 21, 2023
Head-Royce School to build 11 new buildings in Oakland Hills
Prep academy survives pushback by neighbors, will expand onto 8 acres across street
Chicago
Sep 22, 2023
Lerner family fight: Father’s actions led to bankruptcy, son says
Filing seeks to avoid foreclosure on Wicker Park apartments
Chicago
Sep 21, 2023
Tupanjac’s last-second bankruptcy scuttles $16M Highwood foreclosure sale
Developer slowplayed blighted Hotel Moraine restoration, Midland Bank alleges
Chicago
Sep 21, 2023
Johnson scraps Invest South/West’s name, reevaluates development program
Will take a “very different plan” to form new initiative with similar aim, deputy mayor says
Chicago
Sep 21, 2023
Chicago’s home price growth more than double the national average
Median sales price rose 9.6 percent year-over-year in August.
Chicago
Sep 21, 2023
GW adds housing density to gain favor for $100M Portage Park plan
Local residents are more receptive after once opposing the proposal
Chicago
Sep 20, 2023
Adventus dealt $350M foreclosure suit during bankruptcy
Canadian REIT poised to lose suburban Chicago, Atlanta office portfolio
Dallas
Sep 22, 2023
Bank of America downsize is latest move favoring Uptown park
Plus, can Bank of America Plaza be converted to residential?
Texas
Sep 21, 2023
Favor fluency: Ken Paxton and Nate Paul speak the universal language of real estate
Friendship isn’t illegal, but it sure can look suspect
Texas
Sep 21, 2023
Capital A, NHPF score $75M construction financing for affordable housing in Austin
East Austin project to bring 204 below-market-rate units
Texas
Sep 19, 2023
“Punish those bastards”: Todd shows receipts in eminent domain fight
Details emerge in battle over former state park
Dallas
Sep 21, 2023
Paul Romanowski named CEO of D.R. Horton
David Auld stepping down after nine years as Arlington-based homebuilder’s leader
Dallas
Sep 21, 2023
Huffines pursuing 1,000-acre development in Grand Prairie
700 acres of residential, 37 acres of mixed commercial development planned
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South Florida
Sep 22, 2023
South Florida by the numbers: Football lives here
South Florida
Sep 22, 2023
Defending the castle: Demand rising for privacy and security in South Florida
Agents say luxury buyers increasingly want gated communities, private police forces and 24/7 vigilance
Chicago
Sep 21, 2023
Chicago’s home price growth more than double the national average
Median sales price rose 9.6 percent year-over-year in August.
New York
Sep 21, 2023
Eklund-Gomes team launches “spunky” AI assistant
Douglas Elliman team founders celebrated “rebranding” led by Maya
South Florida
Sep 21, 2023
CrossCountry Mortgage chief Ron Leonhardt sells waterfront Fort Lauderdale mansion for $30M
Leonhardt bought the 9,500 sf house for $23M in 2021
Los Angeles
Sep 21, 2023
Olympic-Barrington Partnership plans to build 51 apartments in Studio City
West Hollywood developer would demolish a 1,500 sf home built in 1940
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New York
Sep 22, 2023
Apollo president pitches “marshaling resources” around CRE
James Zelter touted lending opportunities amid downturn
New York
Sep 22, 2023
Charles Cohen’s 3 Park Ave at risk of downgrade
Occupancy rate drops to 54%, rental income down 40% from 2019
Dallas
Sep 22, 2023
Bank of America downsize is latest move favoring Uptown park
Plus, can Bank of America Plaza be converted to residential?
Dallas
Sep 21, 2023
Paul Romanowski named CEO of D.R. Horton
David Auld stepping down after nine years as Arlington-based homebuilder’s leader
Los Angeles
Sep 21, 2023
Axos Bank claims default on 132-unit Van Nuys senior complex
Developer Landmark View falls behind on $25.5M mortgage
South Florida
Sep 21, 2023
Orion pays $58M for Dadeland retail plaza and office building
Miami-based firm acquired The Greenery Mall from Cofe Properties
Development
all markets
- all markets
- Austin
- Chicago
- Dallas
- Fort Worth
- Houston
- Los Angeles
- National
- New York
- San Antonio
- San Francisco
- South Florida
- Texas
- Tri-State
Los Angeles
Sep 22, 2023
Builder’s remedy: “The walls are closing in on cities”
Developer Leo Pustilnikov speaks of how the courts will save projects at TRD’s LA Forum
San Francisco
Sep 22, 2023
Meet Alan Dones, co-developer of Oakland’s $5B Coliseum project
SUDA founder, part of all-Black consortium, to create “master strategy” for site
Dallas
Sep 21, 2023
Huffines pursuing 1,000-acre development in Grand Prairie
700 acres of residential, 37 acres of mixed commercial development planned
South Florida
Sep 21, 2023
“Hard to appreciate”: City board slams Lalezarian’s three-tower design at Miami Worldcenter
Still, project is approved, as well as Abbhi Capital’s and another proposed for Edgewater
Tri-State
Sep 21, 2023
Court says Southampton can’t make Beechwood pay $3M fee
Decision reversed previous ruling on Hamptons condo project
Chicago
Sep 21, 2023
GW adds housing density to gain favor for $100M Portage Park plan
Local residents are more receptive after once opposing the proposal