Mamdani To Launch City-Backed Insurance Program For Affordable Housing
New York City Mayor Zohran Mamdani announced a city‑backed property and liability insurance program aimed at rent‑stabilized and affordable‑housing landlords. The initiative, led by the Economic Development Corp and the Department of Housing Preservation and Development, will target 20,000 homes by 2027 and scale to 100,000 by 2030. By leveraging city funds and private captives, the program promises to lower insurance premiums by 20‑30%, freeing cash for maintenance and new development. The plan still requires City Council approval before partners are selected.
REPORT: Strada Investment Group Targeting Showplace Square Office
San Francisco‑based Strada Investment Group is negotiating to buy the 133,400‑square‑foot Showplace Square office at 1 De Haro St. for an estimated $100‑$110 million, roughly $800 per square foot. The building is fully leased to fleet‑telematics firm Samsara, which occupies the entire 86,000‑square‑foot office...
Luxury Condos Planned At Surfside Collapse Site Fail To Draw Any Buyers
Damac International bought the former Champlain Towers South site in Surfside for $120 million and announced The Delmore, a 15‑story luxury condo with 37 units starting at $15 million. After a soft launch in early 2025, the developer opened a sales gallery...
CoStar Hit With Class-Action Suit Claiming It's A Monopoly That 'Destroyed Competition'
CoStar Group, which commands about 80% of the online commercial‑real‑estate (CRE) listing market, faces a new class‑action lawsuit filed by Brooklyn‑based broker Grand & Co. The complaint alleges CoStar violated the Sherman Act by imposing restrictive contracts, demanding $300‑$1,000 monthly...
Law School Moving To Downtown Wilmington As Part Of $250M Initiative: The Philadelphia Deal Sheet
Widener University Delaware Law School will move from its Talleyville campus to 1020 French Street in downtown Wilmington for the 2027‑28 school year. The relocation is part of the $250 million Bridge Project, a public‑private partnership that will activate 550,000 square feet...
Boston City Council Members Float Eliminating Parking Minimums For All Housing Development
Boston City Councilors Sharon Durkan and Henry Santana introduced a 35‑page amendment to eliminate off‑street parking minimums for all new residential construction. The proposal would rewrite the city’s base zoning code and every neighborhood article, aiming to reduce development costs...
RJW Signs Major Build-To-Suit Industrial Lease: The Chicago Deal Sheet
RJW Logistics Group signed a 1.2 million‑square‑foot build‑to‑suit lease at Karis Park West in Montgomery, Illinois. The 10‑year agreement covers a 73.21‑acre parcel within a 200‑acre master‑planned industrial campus. Construction is slated to begin in April 2026 with completion targeted for 2027. JLL...
The Senate Housing Bill Still Isn't Law, But It Has Already Paralyzed The Build-To-Rent Market
The Senate’s 21st Century Road to Housing Act, passed on March 12, includes a seven‑year forced‑sale rule for large build‑to‑rent (BTR) developers. The provision has triggered an immediate freeze in BTR financing and sales, with major lenders such as Fannie Mae...
SMBC Nearing A Deal To Sublease 200K SF In Charlotte
Sumitomo Mitsui Banking Corp. (SMBC) is finalizing a sublease of 200,000 sq ft at 301 South College, its new Charlotte headquarters, with a deal slated to close in early May 2026. The Japanese bank is committing more than $50 million to the hub...
Phoenix Hotel Developers Building To Make Up For Lost Time
Phoenix’s hotel market is entering a rapid expansion phase, with developers slated to open 3,650 rooms across 22 new properties in 2026—an increase of 117% from the prior year and second only to New York in volume. The surge is driven...
California Investment Manager To Plead Guilty In Federal Fraud Case
Ken Mattson, former CEO of LeFever Mattson, pleaded guilty to a single wire‑fraud count in a federal case that exposed a 15‑year Ponzi scheme. Prosecutors say he siphoned more than $100 million from hundreds of investors by selling fake interests and...
Data Centers Spark Projected $1.4T Spending Surge From Power Utilities
U.S. investor‑owned utilities are planning to spend at least $1.4 trillion on new power plants, transmission lines and grid upgrades through 2030, a 21% jump from last year’s five‑year outlook. The surge is driven largely by the rapid expansion of AI‑powered...
Homeless Services Nonprofit Leases Former FiDi Migrant Shelter: The N.Y. Deal Sheet
Highland Park Community Development Corp., a nonprofit serving people at risk of homelessness, signed a 30‑year lease for the 119,000‑square‑foot, 289‑room former hotel at 52 William St. in the Financial District. The building, purchased by Slate Property Group for $95 million in 2024,...
Lender Selling $140M Downtown D.C. Office Loan With 'Path To Ownership'
JLL is marketing the sale of a $140 million loan secured by the 306,000‑square‑foot office building at 700 Sixth Street NW in downtown Washington, D.C. The loan, originated in May 2019 by Principal Real Estate Investors, carries a 3.7% fixed rate and...
New Jersey Lifts Nuclear Power Ban As Data Centers Scramble For Energy
New Jersey Governor Mikie Sherrill signed legislation that ends a four‑decade ban on building new nuclear power plants, updating the Coastal Area Facility and Review Act. The move aims to alleviate a growing energy shortfall driven by the data‑center boom...
