Commercial Real Estate

The tax break allows foreign visitors to reclaim a sales tax of 20 percent on items bought in the country for more than £30 (Getty; Unsplash)
National Weekend Edition

UK tax break expiration could hurt struggling retailers

A popular tax break is expiring in the United Kingdom in January, threatening the country’s status as a shopping...

UK tax break expiration could hurt struggling retailers
Istanye Park in Istanbul (Photo via Wikipedia Commons)
National Weekend Edition

Turkish mall valued at $1B in deal with Qatar

Turkish investment giant Dogus Holdings AS has agreed to sell a 30 percent stake in a high-end Istanbul shopping...

Turkish mall valued at $1B in deal with Qatar
Joe Sitt and Charles Scribner’s Sons Building in Midtown (Thor, Google Maps)

Thor’s $150M loan on 597 Fifth heads to special servicing

Thor Equities’ troubles at 597 Fifth Avenue are mounting. The firm’s $105 million commercial mortgage-backed securities loan tied to...

Thor’s $150M loan on 597 Fifth heads to special servicing
258 8th Avenue (Google, Target)

Target planning yet another NYC store in Chelsea

Target is opening yet another location in New York City. The big-box retailer has signed a lease at 258...

Target planning yet another NYC store in Chelsea
Adam America's Omri Sachs and Dvir Cohen with 2503-2509 Broadway (Google Maps; Adam America)

Adam America secures $63M in financing for Upper West Side project

Adam America Real Estate recently secured two loans totaling $63 million for an Upper West Side development that’s been...

Adam America secures $63M in financing for Upper West Side project
As workers trade in suits for sweatpants, 1 in 6 dry cleaners has closed or gone bankrupt (Getty)
National

Pandemic takes drastic toll on dry cleaners

At J’s Cleaners, business had clawed up to 40 percent of pre-pandemic levels last month. But now, with Covid-19 soaring again, that number is expected to plummet. “If this thing keeps dragging, many small...

Pandemic takes drastic toll on dry cleaners
Behind Deutsche Finance’s American buying binge
National Issue

Behind Deutsche Finance’s American buying binge

When Deutsche Finance Group looked to crack the U.S. real estate market, it set its sights on a prime...

Behind Deutsche Finance’s American buying binge
48-00 Grand Avenue in Maspeth and Prologis CEO Hamid Moghadam (Google Maps; Prologis)

Prologis picks up Maspeth parcel for $51M

Prologis is broadcasting that the industrial market remains hot in the outer boroughs. The industrial giant picked up 223,000 square feet of land at 48-00 Grand Avenue in Maspeth for $51 million from a...

Prologis picks up Maspeth parcel for $51M

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