NYC Hotels Face $400 Night Rates Amid Rising Costs
Ready to pay close to $400/nite to stay in #NYC, already costliest #hotel mkt in USA? Just in time for #WorldCup, #labor deal w/raise expenses 15%/year. 'Only way to maintain profit is raising your rates' #realestate #CRE #HANY https://t.co/fnP07Zf65W via @WSJ
Plaza District Office Rents Hit $300 per Square Foot
Is the new normal $300/sf? Welcome to the new reality of what offices in the #PlazaDistrict cost. 'There's a limited supply at the very top end, so tenants are competing for it' #9West Soloviev #NYC #realestate #CRE #JLL https://t.co/5QVHGlMFjH
Equity Residential, AvalonBay Merge to Form $69B Giant
#EquityResidential, part of #SamZell's legacy, plans merger w/#AvalonBay w/w control 180K+units, making it 1 of the largest apt landlords, w/an enterprise value of abt $69B. #realestate #CRE #WallSt #REIT #multifamily #Chicago #ArlingtonVA https://t.co/xph8NyhiUd
One in Three U.S. Real Estate Markets Set to Decline
1+ of 3 USA #realestate markets heading for decline as #pandemic-era boomtowns crater, #Zillow study shows. #CRE #mortgage #Sunbelt #GulfCoast #flooding #insurance #Austin #NewOrleans #NOLA #HoumaLA https://t.co/0em39O7CqZ
Summit’s NYC Acquisition Sparks Tenant Union Backlash over Habitability
#Summit's buy of 5,200 #NYC apts from #Pinnacle earned it the eternal emnity of tenant unions, w/is not going away. 'We're asking for safe habitable homes. Why do we h/to unionize to get that?' #realestate #multifamily #UPT #MayorMamdani #CeaWeaver https://t.co/wWfiQnrVjw
Brookfield, Qatar to Earn $273M From 2 Manhattan West Refi
Spectacular $273M to accrue to #Brookfield, #Qatar on refi of #2ManhattanWest. Yes they have to pay it back but that's years from now+refi sh/be an option. 97%-occupied+avg in-place rent a nosebleed $132/sf. #realestate #CRE #mortgage #NYC #ManhattanWest https://t.co/BTu6KOSQar
Brooklyn Dealmaker Dweck Hit with $14.4M Lawsuits
#Dweck as in dreck. #Brooklyn dealmaker facing 7 lawsuits+$14.4M of damages, allegations that he pulled $$ from props+sought investments in deals that never materialized. #SyrianJewry #litigation #realestate #CRE #mortgage https://t.co/VT7W7SAR1S
NYC Mayor's Team Evaluates Building Carbon Costs
#NYC turning over a greener leaf, as #MayorMamdani admin studies #carbon costs of bldgs. 'This is abt bldg a city that works today w/o compromising the future' #realestate #CRE #NYU #Rutgers #environmental #climatechange https://t.co/lQN1hFwsT3 via @WSJ
Debra Messing Lists UES Home for $
'Grace's' graceful exit. #DebraMessing, 57, lists her #UES home for $6.5M, sez she w/stay in #NYC. 'When you make plans God laughs' #WillandGrace #realestate #mortgage #TV https://t.co/E339SJKvbo via @WSJ
Penn District Revitalizes, Luring Major Tenants via Transit
From 'hellhole' to hot. #PennDistrict finally cashes in on its potential as tenants like #Dicks, #MLS, #Robinhood flock to #PennStation area. 'Easy access from acx region a real advantage' #realestate #CRE #retail #NYC #masstransit https://t.co/r7JMAo1i0M via @WSJ
Inflation Climbs to 3.8%, Energy Now Primary Driver
#Inflation finally takes a bite. Jumps to 3.8% as #energy replaces #tariffs as driver of higher prices. #realestate #CRE #Trump #Iran #StraitsofHormuz #gasoline #mortgage #interestrates #TheFed https://t.co/ygaDzZOIBU
AI Expands NYC Real Estate, Defying Workforce‑Shrinkage Narrative
#AI a hot category in #NYC as #HarveyAI 2xs its space to 185KSF at #1Madison, following #Anthropic deal at #330Hudson. It may kill #CRE but not right now. 'The ultimate response to the false narrative that AI is shrinking the...
Shorewood Buys Ex‑Walgreens Site for $13M Mixed‑Use Plan
#Shorewood sees mixed-use future for ex-#Walgreens #Chicagoland campus, paying $13M for the 37.5 acres. Seller #Orion demolished 6 bldgs to make it more appealing. #realestate #IL #CRE #REIT #DeerfieldIL https://t.co/rIc6rgjE0M
Business Adds 115K Jobs, Unemployment Steady at 4.3%
Biz shrugs off #Iran War, higher gas prices, creates 115K jobs. Unemployment unchanged at 4.3%. Numbers are from mid-April, w/employers still evaluating what w/going on. #realestate #CRE #interestrates #Trump #DOL #BLS #AI https://t.co/WERxgWvnVU
New 1WTC Shifts From Finance to Communications Hub
Why the new #1WTC isn't like the old 1WTC. The new 1 is centered on communications, the old 1 on #finance. Norm #AI takes 70KSF there w/#CondeNast is anchor. 'No bldg in world carries more institutional weight than 1WTC' #WTC...