Tri-State
NJ construction official accused of siphoning funds from developers’ account
A town hall in Essex County, New Jersey, was the target of a raid by state investigators on Monday,...
Commercial Real Estate
Commercial real estate is any property used for a profit-making, non-residential purpose.
Commercial Real Estate Q&A
What qualifies as commercial real estate?
Any for-profit, non-residential property can be considered commercial real estate. In some states, residential property with more than a certain number of units may also be considered commercial property for borrowing and tax purposes.
What is the commercial real estate industry?
The commercial real estate industry encompasses the buying, selling, leasing, financing, development and construction of commercial spaces. The top ten property owners in New York City alone hold over 546 million square feet of property and operate with an aggregate sum of $8.1 billion, according to TRD's 2019 Data Book.
Who buys and sells commercial real estate?
TRD calculates the top NYC commercial brokerages by sales annually. While individuals, groups, and small companies can buy and sell commercial real estate, brokerage firms account for many of the deals happening within the commercial real estate industry. According to TRD's ranking, 2018's top brokerages by dollar-volume sales were Cushman & Wakefield, CBRE, Eastdil Secured, HFF, and Rosewood Realty Group.
Want to know more about commercial real estate?
Check out our Top Stories below for TRD's most up-to-date coverage of commercial real estate.
The Latest
NYC City Council passes bill forcing hotels to dish out severance pay
The City Council voted Thursday to pass a bill compelling hotel owners to provide severance pay to their out-of-work...
Vorea, Domain and L+M close on $88M LIC development site
A trio of developers planning a 500-unit residential property in Long Island City have closed on the development site...
National
Condor Hospitality selling hotels to Blackstone for $305M
Condor Hospitality is getting out of the hotel business — in fact, it appears it’s getting out of business...
City landlords’ tax delinquencies approach Great Recession levels
Nothing is certain but death and taxes, and property taxes are no exception. For a year and a half,...
National
Valley National acquiring Bank Leumi USA for $1.1B
Valley National Bank is making its second major acquisition in the last three months, this time agreeing to acquire...
Blood Center rezoning on Upper East Side approved
A controversial plan to expand the New York Blood Center in the Upper East Side has advanced through the...
Hudson Square office building sold for $46M
Days after Google shattered a pandemic purchase record in Manhattan’s Hudson Square, another deal has added to the neighborhood’s pricey office scene. Vanquish LLC, a group of investors from the Middle East, bought a...
Tri-State
Fintech firm Fiserv expanding into NJ with new office
An influx of high-paying tech jobs could be on the way to New Jersey, courtesy of Fortune 500 company...
Tri-State
Berkeley College selling two downtown White Plains buildings
Months after announcing the closure of its Westchester campus, Berkeley College is selling the two buildings it formerly occupied...