Tri-State
Tri-state rents are up and down — at the same time
Rent is in the eye of the beholder. In the tri-state area, at least. Compared with a year ago,...
Commercial Real Estate
New York City’s biggest borrowers of 2022
Lingering uncertainty in New York City’s office market and a virtual moratorium on new hotels allowed a self-storage deal to top the list of 2022’s largest real estate loans. The 10 largest financing deals...
Hawkins Way, Värde buy defunct Marriott East Side hotel
Hawkins Way Capital has picked up another shuttered hotel on Manhattan’s East Side. The Beverly Hills–based company and the...
NYCB slashes 10% of staff as resi mortgages slump
New York Community Bank slashed 10 percent of its staff last week as rising rates sapped residential mortgage activity....
National
U.S. industrial sales dropped 30% toward normal in 2022
Rents and demand across industrial real estate were on the rise last year, but the sector’s sales boom appears...
Jeff Sutton’s Wharton refis Prada property on Fifth Ave with $260M loan
Jeff Sutton’s Wharton Properties refinanced its Prada property on Fifth Avenue with an eye toward returning to the debt...
NYC multifamily sales boomed, but party could be over
New York City’s multifamily market had a banner 2022, but higher interest rates figure to slow things down this...
Camber nabs Bronx apartment buildings to top midsize i-sales
Manhattan took the week off in New York City’s mid-market, but Rick Gropper’s Camber Property Group didn’t. All four...
Bowery micro-hotel files for bankruptcy
David Paz had dreams of turning a Lower East Side flophouse into a chic, budget-friendly hotel. Now he is just trying to keep the property out of its lenders’ hands. Paz’s company put the...
MetLife Building gets the luck of the Irish
Irish eyes are smiling on one of the most famous commercial buildings in Manhattan. The Irish government leased 43,000 square feet at 200 Park Avenue, aka the MetLife Building, the Commercial Observer reported. The...