Commercial Real Estate

20 West 33rd Street (20West33rd)

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project

Kevin Chisholm’s 60 Guilders and the Carlyle Group have found a buyer for four condos at their Midtown South...

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project
902 Drew Street and 400 East 58th Street (Google Maps)

New York’s multifamily sales improve in Q3

New York City’s multifamily investment sales improved in the third quarter compared to second quarter results, as the number...

New York’s multifamily sales improve in Q3
Bank OZK CEO George Gleason (Unsplash; Bank OZK)

Bank OZK’s lending up in third quarter

New York’s commercial real estate market has been pummeled by the pandemic, but one of its biggest condo construction lenders reported almost no write-downs in the third quarter. On its earnings call Friday, Arkansas-based...

Bank OZK’s lending up in third quarter
Gap CEO Sonia Syngal (Getty)

Gap Inc. will close 350 stores and exit malls entirely

Another big retailer is leaving struggling malls behind. Gap Inc. announced Thursday that it will close 350 of its...

Gap Inc. will close 350 stores and exit malls entirely
Steve Cohen and Citi Field (Getty)

Citi Field lease clause could stymie billionaire’s quest for the Mets

Little stands in the way of Steve Cohen, the billionaire hedge fund manager, acquiring the New York Mets —...

Citi Field lease clause could stymie billionaire’s quest for the Mets
WeWork CEO Sandeep Mathrani (Wikipedia Commons; iStock)

WeWork bonds, already junk, downgraded by Fitch

WeWork’s credit rating, already rated as junk, has been downgraded on concerns that the pandemic could seriously weaken demand...

WeWork bonds, already junk, downgraded by Fitch
Wendy Silverstein (Photos by Guerin Blask)

The Closing: Wendy Silverstein

Wendy Silverstein’s career has been all about getting her hands dirty. The 17-year veteran of Vornado Realty Trust helped grow the company from a $3 billion owner of New Jersey strip malls to a...

The Closing: Wendy Silverstein
(Getty, iStock)

Cash-strapped borrowers are increasingly giving keys back to lenders

UPDATED, Oct. 23, 2020, 5:15 p.m.: Many commercial mortgage-backed securities borrowers that are strapped for cash are trying to...

Cash-strapped borrowers are increasingly giving keys back to lenders
Charles Kushner and 229 West 43rd Street (Getty, Google Maps)

Appraisal cuts Kushner Companies’ Times Square retail value 80%

New York Times food critic Pete Wells’ epic takedown of Guy Fieri’s restaurant is no longer the worst review...

Appraisal cuts Kushner Companies’ Times Square retail value 80%
SL Green CEO Marc Holliday with 410 Tenth Avenue, One Vanderbilt and 126 Nassau Street (SL Green, Google Maps, Wikimedia, iStock)

SL Green’s lament: Office comeback “always right around the corner”

As New York City progressed through the different reopening phases over the summer, office landlords pointed to Labor Day...

SL Green’s lament: Office comeback “always right around the corner”

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