Stephen Ross Buys Broward County Office Campus for $37M
Stephen Ross, through his firm Related Ross, purchased a Coral Springs office campus for $36.5 million, adding nearly 205,000 sq ft of Class A space and a 2.3‑acre parcel to his South Florida portfolio. The transaction includes $18.3 million of seller financing from First Data, which will lease back the space for three years. This acquisition extends Ross’s development focus beyond West Palm Beach into Broward County, where he aims to attract more blue‑chip corporate tenants. The deal underscores his broader strategy to turn South Florida into a premier business hub.
New Private Golf and Lifestyle Club Stableford Announces L.A. Flagship
Stableford, a new private golf and lifestyle brand, announced its Los Angeles flagship in Sawtelle. The 13,000‑square‑foot clubhouse at 2055 South Barrington Avenue will host eight simulator lounges, putting greens, wellness therapy suites, a café and cocktail lounge. Construction is underway with an opening...
Delshah Capital Pays $76M to Acquire LCOR’s 34 Berry Street in Williamsburg
Delshah Capital announced a $76 million acquisition of 34 Berry Street, a 142‑unit Class A multifamily property in Williamsburg, from LCOR, which bought the asset for $53 million in 2024. The deal was financed with $62.25 million of institutional debt from Ares and brokered by...
As Insurance Premiums Surge, Sophisticated Property Owners Are Turning to Captive Insurance
Commercial real‑estate owners are facing unprecedented insurance cost spikes, with New York rent‑stabilized premiums up 150% since 2019 and national multifamily rates climbing more than 75% over the same period. Insurance now consumes roughly 8% of apartment‑building operating expenses, squeezing...
Ladder Capital Provides $30M Refi for Midtown Manhattan Office Building
MJ Orbach Associates secured a $29.5 million refinancing loan from Ladder Capital for its 176,000‑square‑foot office building at 260 West 39th Street in Manhattan’s Garment District. The loan was arranged by Arrow Real Estate Advisors, whose team highlighted Ladder’s focus on the asset’s strong...
NFL’s Commanders Sign Office Lease in D.C.’s Foggy Bottom
The Washington Commanders have signed a 60,000‑square‑foot lease for a BXP‑owned office at 2200 Pennsylvania Avenue in Foggy Bottom, moving senior leadership and a sales center from their 27,516‑square‑foot College Park location. The move coincides with the team’s $3.8 billion stadium renovation...
JP Morgan Refis 625 Fulton Street With $765M Loan
J.P. Morgan Chase provided a $765 million permanent loan to refinance Rabsky Group’s 35‑story, 1,102‑unit multifamily tower at 625 Fulton Street in Downtown Brooklyn. The new financing replaces $555 million of construction debt originally supplied by Madison Realty Capital. The development includes...
9 West 57th Street Gets $327.50 a Square Foot for Office Lease — Likely an NYC Record
Soloviev Group announced a 10‑year lease for 5,063 sq ft on the 50th floor of 9 West 57th Street at $327.50 per square foot, a rate the landlord claims is the highest ever recorded in New York City’s office market. The deal...
3650 Capital Provides $104M Pref Equity Injection Into $455M Acquisition
3650 Capital is injecting $104 million of preferred equity into a $455 million acquisition of a 1,495‑unit multifamily portfolio in the Chicago area, purchased by LaTerra Capital Management and Respark Residential from Aimco. The assets carry $308 million of Fannie Mae agency financing, which...
MF1 Supplies $64M Construction Takeout Loan for Fort Greene Apartments
MF1 Capital provided a $64 million construction takeout bridge loan to Borough Developers for the 99‑unit Elliot apartments in Fort Greene, Brooklyn. The financing was arranged by Landstone Capital Group, led by Leah Paskus and Shlomy Wertzberger. The development benefits from...
Corcoran Group Signs 15K-SF Lease at 381 Park Avenue South
Olmstead Properties and its partner Vertex have signed a new lease with residential brokerage Corcoran Group for an 11‑year term covering 14,710 square feet at 381 Park Avenue South in Manhattan’s Flatiron District. The lease, part of a rapid leasing...
Mapletree Sells 1.4M-SF Warehouse Portfolio to Dalfen Industrial for $208M
Mapletree Investments sold a 1.4 million‑square‑foot U.S. industrial portfolio to Texas‑based Dalfen Industrial for $207.5 million. The assets include 13 warehouses in Dallas‑Fort Worth, four in Chicago, and one each in Cincinnati and Indianapolis. This transaction is Mapletree’s fifth U.S. warehouse divestment...
Mesa West Capital Provides $81M Refi for Townhome Complex Outside Houston
Knightvest Capital secured an $81 million five‑year floating‑rate loan from Mesa West Capital to refinance the 313‑unit Domain Memorial townhome community near Houston. The loan will fund interior renovations and recent capital improvements, including an EV charging station and upgraded amenities....
An Open Letter to Jamie Dimon on Rethinking Collateral in Rent-Regulated Lending
J.P. Morgan Chase has become the dominant lender for rent‑regulated multifamily properties in New York City after the collapse of Signature Bank and the retreat of New York Community Bank. The author argues that, since the 2019 Housing Stability and...
Multifamily Development Site in Miami’s Wynwood Sells for $54M
Shoe brand owner David Sedaghati sold a 1.92‑acre development parcel in Miami’s Wynwood neighborhood for $54 million to Gary Krat. The site, currently holding 64,629 sq ft of 1950s‑era low‑rise commercial space, was slated for a 1,300‑unit, two‑tower project under the Live Local...
Cottonwood Group Provides $102M to Build Salt Lake City Luxury Hotel
Cottonwood Group has committed $102 million in construction financing for a new 216‑room Kimpton luxury hotel in downtown Salt Lake City. The 10‑story property, located at 370 South West Temple near the Delta Center and convention facilities, will feature a rooftop bar, fitness center, and 7,000 sq ft...
BHI, Naftali Lend $203M for Manhattan Office-to-Resi Conversion
Yellowstone Real Estate Investments secured a $203 million senior loan from BHI and a $36 million mezzanine facility from Naftali Credit Partners to convert the 25‑story Candler Building at 220 West 42nd Street into 176 residential units with retail space. The project will include...
Collectible Labubu Maker Pop Mart Signs 7K-SF Lease at 680 Fifth Avenue
Pop Mart, the Chinese maker of Labubu plush toys, has signed a lease for a 7,000‑square‑foot store at 680 Fifth Avenue, marking its fifth New York City location. The corner spot at West 54th Street joins existing outlets in Times...
Digital Realty Closes $3.25B Data Center Fund
Digital Realty, a global data‑center REIT with roughly $50 billion in assets, has closed its first U.S. hyperscale fund, raising $3.25 billion in equity. The capital comes from a mix of public and corporate pension funds, sovereign wealth funds, family offices, endowments...
Madison Realty Capital Lends $121M for Hoboken Condos
Madison Realty Capital has provided a $121 million inventory loan to Taurasi Group for the South End Lofts, a 110‑unit mixed‑use condo project in Hoboken that opened this winter. This financing follows a $97 million construction loan the lender gave the developer...
New York’s Statewide Housing Crisis Needs Statewide Solutions
New York Governor Kathy Hochul and lawmakers have earmarked $250 million in new capital funding for affordable housing in the state budget, alongside a $40 million relief fund to preserve existing units. The proposals also target policy reforms, notably changes to the...
CIM Group Sells 88 University Place for $46M to New Investment Partnership
CIM Group sold the 11‑story 88 University Place in Greenwich Village for $46 million to a partnership of Acram Group and Bulldog Real Estate Partners. CIM had acquired the property in a 2024 foreclosure for $48.6 million after Arch Companies defaulted on...
Clothing Supplier Intradeco Sells Miami-Dade HQ for $49M
Intradeco Apparel sold its Miami‑Dade headquarters warehouse to Seagis Property Group for $48.8 million, translating to roughly $244 per square foot across a 200,175‑square‑foot facility. The property, located in the Flagler Station Business Park, was originally purchased by Intradeco in 2001...
Hydrogen Fitness Signs Deal in Murray Hill for First NYC Location
Hydrogen Fitness signed a 15‑year lease for 17,000 sq ft at 145 East 32nd Street in Manhattan’s Murray Hill, marking its first New York City location. The lease, priced at $70 per square foot, includes the ground floor, lower level and mezzanine and will...
RXR Refis New Jersey Apartments With $90M Loan
RXR has provided a $90 million loan to refinance the 300‑unit Clifton & Company multifamily project in Clifton, New Jersey. The development, built on the former Black Prince Distillery site, completed its first phase in early 2026 and is now in lease‑up, with full completion...
Terrabank Inks 40K-SF Lease in Coral Gables
Terrabank announced a 15‑year lease for 40,000 square feet at One Alhambra Plaza in Coral Gables, Florida, moving its headquarters to the premium office complex. The bank will occupy 37,308 square feet across two floors and operate a 2,692‑square‑foot retail...
Citi, Access Point Provide $286M for Acquisition, Repositioning of 38 U.S. Hotels
Sunday PropTech has secured a $286 million financing package to acquire and reposition a portfolio of 38 U.S. hotels comprising over 4,000 rooms. Citi contributed $242 million of senior acquisition debt while Access Point supplied $44 million of mezzanine financing, bringing total deal...
Arwa Yemeni Coffee Opening First NYC Location in Williamsburg
Arwa Yemeni Coffee, a specialty chain founded in Texas in 2021, is opening its first New York City location in Williamsburg, Brooklyn. The company signed a ten‑year lease for 2,000 square feet at 310 North Seventh Street, paying $12,500 per...
Capital Group Buying L.A. Office Tower for Around $210M: Sources
Capital Group has signed an agreement to purchase the Bank of America Plaza, a 55‑story office tower at 333 South Hope Street in downtown Los Angeles, for roughly $210 million. The building offers about 1.4 million square feet of rentable space, positioning...
Reuben Brothers Pay $200M for Retail Complex on Palm Beach’s Worth Avenue
British billionaire investors Reuben Brothers, together with Crown Onyx, purchased the Esplanade retail complex on Palm Beach’s Worth Avenue for $200 million. The two‑story, 128,779‑square‑foot property houses luxury brands such as Emilio Pucci, Akris, Hublot and Starbucks, after former anchors Louis...
Hanover Capital Refis Long Island City Retail Property With $26M Loan
Hanover Capital provided a $25.8 million refinancing loan for Vorea Group’s 52,578‑square‑foot retail development at 10‑04 Borden Avenue in Long Island City. The property, opened in 2024, is 100 percent leased to experiential anchors iFly and Vibe Fitness. Hanover highlighted the asset’s proximity to...
Data Security Firm AvePoint Inks 8K-SF Lease at Vornado’s Penn 2
AvePoint, a data protection and compliance specialist, has signed an 8,000‑square‑foot lease for its first New York City office in Vornado’s Penn 2 tower. The 24th‑floor space commands an asking rent of $135 per square foot. The lease, brokered by Cushman...
New York’s Residential Building Workers Union Sets Strike Vote
Members of the 32BJ SEIU, representing 34,000 residential building workers in New York City, voted to authorize a strike on April 15 after their four‑year contract expires on April 20. More than 2,000 members approved the vote, signaling strong support...
CBRE Investment Management Names New Leaders for Direct Real Estate
CBRE Investment Management appointed Laura Dunn as head of its Americas direct real‑estate commercial operator division, effective March 17. Dunn will oversee transactions and asset‑management across retail, office, life‑science, self‑storage and medical‑office properties. Colin Rosenbaum was also promoted to lead...
Thor Equities Pays $56M for 1165 Broadway
Thor Equities has purchased the landmark 1165 Broadway in Manhattan’s NoMad district for $56 million. The five‑story, 58,000‑square‑foot property is fully occupied by tenants such as Primary Wave, Christian Louboutin, Aesop and Joe & the Juice. Thor’s COO Melissa Gliatta highlighted...
Melius AI Leases 5K SF at 205 West 28th Street
Class A office building 28&7 at 205 West 28th Street in Manhattan’s Chelsea is now fully occupied after two leases totaling 6,636 square feet. Melius AI signed a 4,595‑sq‑ft lease for its AI training services on the sixth floor, while...
Jack Doyle’s Pub Signs for Another 15 Years at MetLife’s 240 West 35th Street
Jack Doyle’s Pub & Restaurant has renewed its lease for another 15 years, securing its 6,295‑square‑foot ground‑floor and mezzanine space at 240 West 35th Street. The renewal, together with a 10‑year extension for Café Nuñez, lifts total occupied space at the address...
M&T Bank Deploys $138M for Philly Affordable Housing Project
M&T Bank is providing a $62.1 million construction loan and a $30.2 million tax‑credit equity investment as part of a $137.5 million financing package for the Philadelphia Housing Authority’s Westpark Redevelopment. The project will deliver 327 mixed‑income units, including 190 affordable apartments for...
Land Search Company Prophetic Expands Its Technology
Prophetic, an AI‑native land acquisition platform, has launched SearchAI Intentions, a new capability that lets developers search for parcels based on their intended use rather than interpreting zoning codes. The feature expands the platform’s repertoire to over 120 development types,...
Office Properties Drive Maturity Extension Wave
CRED iQ’s loan analytics platform has recorded 1,249 CMBS loans receiving maturity extensions, representing roughly $115 billion of outstanding principal. Extensions now dominate workout activity, especially in the office sector, which accounts for 64% of the identified extension balance. Forbearance agreements...
Record New York Apartment Rents? Blame Policymakers, Not Landlords.
New York City’s market‑rate rents hit historic highs in February, with Manhattan’s median reaching $5,000 and Brooklyn’s $4,300. Vacancy rates have slipped below 2%, intensifying competition for apartments. Economists and developers blame restrictive rent‑stabilization rules and the 2019 Housing Stability...
BFC Partners Inks 14K-SF Lease at RFR’s 17 State Street
BFC Partners has signed a 10‑year lease for a full floor—13,758 square feet—at RFR’s 17 State Street in Manhattan’s Financial District. The lease, valued at the building’s market rate of $72‑$85 per square foot, adds the firm to a growing...
Boutique Art Deco Hotel in Miami Beach Could Expand
Owners of Miami Beach’s historic San Juan Hotel have filed a proposal to add a five‑story wing, boosting the property from 75 to 104 rooms. The plan would expand the footprint to 44,755 sq ft while preserving the original Art Deco façade...
Starwood Pays $4M an Acre to Build Data Centers
Fairfax County’s Board of Supervisors approved the sale of a 42‑acre parcel at the county police training campus to Starwood Capital Group for $166.8 million. The Miami‑based developer intends to build a data center, though site entitlements are still pending. County...
Jonathan Rose Companies Acquires Affordable Housing Complex in Inwood for $53M
Jonathan Rose Companies purchased the 126‑unit Caroline Apartments in Manhattan’s Inwood for $53 million, marking the eighth acquisition by its Affordable Housing Preservation Fund VI. The firm will invest $19.7 million in rehabilitation, upgrading systems, improving energy efficiency, renovating units and adding a...
BHI Provides $88M Bridge Loan for 845 Third Avenue’s Office-to-Resi Conversion
Bank Hapoalim's U.S. arm, BHI, has issued an $88 million bridge loan to finance the conversion of 845 Third Avenue, a 21‑story Midtown East office tower, into a 529‑unit residential building. The loan is part of a broader recapitalization that also includes...
BrightSpire Sells LIC Office Building to Pearl Realty at $36M Discount
BrightSpire Capital sold the seven‑story Paragon Building in Long Island City for $28 million, a $36.3 million discount from its 2023 purchase price of $64.3 million. The sale represents a roughly 56 percent loss, reflecting broader devaluation in New York’s office market. Pearl Realty...
Praelium Buys 17-Building R&D Portfolio Near Santa Barbara for $235M
Investment firm Praelium Commercial Real Estate acquired a 17‑building, 733,497‑square‑foot office, industrial and R&D portfolio in Goleta, California for $235 million. The transaction, financed with a $153.5 million loan from a Starwood Property Trust affiliate, involved sellers Majestic Asset Management and buyers...
Faraday Future to Downsize HQ With 99K-SF Office in El Segundo
Faraday Future announced it will relocate its headquarters from a 146,000‑square‑foot campus in Gardena to a 99,209‑square‑foot facility owned by a Fortress Investment Group affiliate in El Segundo. The move, the company’s first headquarters change in its 12‑year history, is...
Mamdani Launches Program for Homeowners to Plan and Finance ADUs
Mayor Zohran Mamdani announced the Plus One ADU program to simplify creation of accessory dwelling units in New York City. The initiative provides an ADU guidebook, an online application portal, and a library of pre‑approved plans managed by the Department...
