Mack Real Estate takes over 7 distressed Manhattan hotels
Mack Real Estate has gained control of a seven-hotel portfolio for what appears to be a major discount. The...
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Orion Jones
National
Leisure, hospitality big winners in February job gains
Leisure and hospitality may finally be on the road to recovery. The industry added 355,000 jobs in February, as...
National
Ascena restructuring approved post-bankruptcy
A bankruptcy court has approved Ascena Retail Group’s Chapter 11 plans. Under the plans, Ascena — which owns Ann...
Massive Sunset Park project flounders and an EB-5 investor sues
An EB-5 investor is suing the developers of a long-delayed mixed-use project in Brooklyn’s Sunset Park, claiming the massive...
Trump Org sues Marc Fisher for $1.5M in rent
The Trump Organization is taking shoe designer Marc Fisher to court for allegedly skipping rent payments at Trump Tower....
Benchmark picks up UES building; SNL snares Bronx warehouse
Two investment sales between $10 million and $30 million closed during the last week of February — one in...
Manhattan comedy club sues Cuomo over pandemic closures
This is no laughing matter. That’s the message the owners of the comedy club Stand Up NY are sending...
National
Hotel stocks went bonkers in February
Hotel investors can rest a little easier at night. Robust gains in February put share prices of publicly traded hotel companies back up to pre-Covid levels, a year after the pandemic sent valuations into...
Michael Stern’s Walker Tower pad sells for 24% under ask
Michael Stern sold his duplex at Walker Tower for less than he’d hoped. The 4,748-square-foot unit sold for $21...
National
Manhattan job losses in Q3 worst of any large county in the US
The average wage that workers earned in the third quarter of 2020 rose 7.4 percent from the previous year...