Tax bills show how much Covid devalued NYC real estate
The pandemic hit the commercial real estate market hard. Property tax bills now reveal just how hard. New York...
Hotel Market
The Latest
Katara Hospitality takes over Dream Downtown’s $125M ground lease
Katara Hospitality has taken over the ground lease of the Dream Downtown hotel in a deal valued at $125...
Hotels’ recovery taking longer in NYC than elsewhere
Hotels in New York City are slowly rising from the pandemic wreck, but their road to recovery looks longer...
Sonder takes lease for 76-key Gowanus Inn
Short-term rental startup Sonder has inked another hotel lease, this one at its first Brooklyn location. The company signed a long-term lease for the entire 76-key Gowanus Inn & Yard at 645-651 Union Street,...
National
Blackstone, Starwood up bid for Extended Stay America
Blackstone Group and Starwood Capital Group are once again trying to woo Extended Stay America’s shareholders. The two firms...
Merchants Hospitality sells dormant LIC hotel for $38M
The owner of a former 100-key hotel is handing over another key — to the building itself. Merchants Hospitality...
Issue
Retailers rush to open in the Hamptons
Phil Zelonky has been planning to open a pop-up nightclub in the Hamptons ever since his first club, Noir, debuted in Manhattan two years ago. There’s just one issue: finding a space. As New...
Miami Issue
South Florida’s hotel conundrum
The lights are still dark at the Diplomat Beach Resort, a sprawling 1,000-room oceanfront hotel in South Florida. More than a year after the pandemic began, conventions and business travelers — the lifeblood of...
Landlords sue hospitality stalwart Furnished Quarters
Furnished Quarters, a short-term rental company that predates Airbnb by a decade, is facing legal challenges. Four landlords have...
Mark Gordon’s Tribeca Associates walks away from FiDi Moxy Hotel
The owner of Moxy Hotel in the Financial District has handed the keys back to its lender. Led by...