The market hadn’t fully rebounded from the pandemic. Some worry that another slowdown could add to fears of a recession.
Tag Archives: Real Estate (Commercial)
WeWork Reaches a Debt Restructuring Deal With SoftBank
The agreement will reduce the unprofitable office space company’s debt, giving it more financial breathing room.
Why We Want to Live (and Work) in That Vermeer Light
A quick scan of real estate listings shows the instinctive hold that sunlight has over us.
‘The Era of Urban Supremacy Is Over’
Many of the nation’s major cities face a daunting future.
Colleges Showcase Mass Timber, in Research and on Display
Campuses across the nation are promoting the sustainable construction material as a low-carbon alternative to steel and concrete.
What’s Holding Up New York’s Climate Progress? Apartment Buildings.
Many New York apartment buildings have less than a year to get in line with an ambitious climate mandate, or risk facing millions of dollars in penalties.
Adams Ally Moves Quickly From City Hall to Lucrative Real Estate Work
Frank Carone, who stepped down as Mayor Eric Adams’s chief of staff in December, has found work with two commercial real estate titans, including one seeking a casino.
WeWork in Talks With Investors to Help Restructure Debt
The co-working giant is close to an agreement with SoftBank and others for new money and to restructure its debt.
Awash in Asphalt, Cities Rethink Their Parking Needs
Local leaders across the nation are overhauling parking requirements for developers, scaling back the minimum number of spots for shopping centers and apartment complexes.
Amazon Pauses Work on 2nd Headquarters in Virginia
The company has been struggling with weak growth and has recently expanded its cost-cutting plans.
Black and Latino Real Estate Developers Struggle to Get Funding
A racial wealth gap and discrimination that sets a higher bar for would-be developers seeking loans have contributed to the lack of representation.
The Hotel Pennsylvania’s Great Disappearing Act
It was the largest hotel on earth, a virtual city within a city. They wrote a song about it. But in the end, none of this was enough to save it.
In Search for Sustainable Materials, Developers Turn to Hemp
Hemp blocks are costlier than traditional building products, but they help address environmental issues and can shave 20 to 30 percent off a typical construction schedule.
By Adding Apartments, Malls Seek to Bring Shopping Closer to Home
Facing an existential crisis over empty space, owners are trying to fill malls with residences, building on the live-work-play model sought by young adults.
One of the World’s Cleanest New Skyscrapers Collides With the Future
One Vanderbilt, in the heart of New York City, is built to be especially climate friendly. But the design landscape and city rules have changed quickly.
Ted Lerner, Developer Who Bought and Built the Washington Nationals, Dies at 97
A billionaire and Washington native, he gave the city its first baseball championship in 95 years, along with 20 million square feet of shopping malls and housing.
Latest NYC Casino Bid Includes a Ferris Wheel Near the UN
Soloviev Group would partner with Mohegan, the casino and resort operator, to develop a long-empty site.
Baghdad Loses Green Space to Real Estate Boom
The problem is driving up temperatures in what is already one of the hottest cities in the world, where air-conditioning is a luxury only the rich can afford.
New York State Convicted Him. Now It’s Made Him a Weed Pioneer.
Roland Conner became the first person with a criminal conviction to open a licensed cannabis dispensary in New York with the state’s help.
Shift to Remote Work Puts Pressure on Chains Like Sweetgreen
Downtown lunch spots that rely on catering to white-collar professionals are rethinking their business model as more employees work from home.
Saks Fifth Avenue Owner Unveils Plan for Casino at NYC Store
Hudson’s Bay Company, the owner of the department store, unveiled plans for a casino in Midtown Manhattan, joining the race for one of three full-fledged gambling licenses in the city.
Will New York City’s Soccer Stadium Cost Taxpayers $0 or $516 Million?
An independent budget analysis suggests that the city will be losing $516 million in tax revenue from its deal to place a new soccer stadium in Queens.
Why New York State Insists That the Penn Station Area Is ‘Blighted’
The designation gives Gov. Kathy Hochul authority to transform the Manhattan neighborhood and build 10 skyscrapers there. A lawsuit is challenging her claim.
Getting Creative With Vacant Office Space: Storage, Gym, Film Set
Some landlords are skipping residential conversion and instead seeking alternatives that are cheaper and easier to manage.
What Would It Take to Turn More Offices Into Housing?
Vast amounts of empty real estate are a crisis for building owners. But some politicians and business leaders hope they can be converted into something new — and transform downtown neighborhoods.
How the Federal Spending Plan Hit a Snag on Plans to Relocate the FBI Building
A fight between Virginia and Maryland lawmakers over a new location for the F.B.I. headquarters held up a 4,155 page must-pass government funding measure.
Hochul and Adams Envision ‘New New York.’ Getting There Is the Trick.
The leaders want to turn commercial districts into 24-hour live-and-work spaces, recognizing that the pandemic has fundamentally changed the city.
A Times Square Hotel Was Set To Become Affordable Housing. Then the Union Stepped In.
An influential hotel workers’ union is flexing its power at a key moment in the city’s recovery, affecting major projects from casinos to homeless shelters.
What Lab Tests Reveal About Cannabis in New York’s Illegal Dispensaries
A report from a medical cannabis trade group found contaminants such as E. coli and salmonella in some products purchased at unlicensed dispensaries.
China Is Finally Trying to Fix Its Housing Crisis
After a year on the sidelines, Beijing this week took steps to get hundreds of billions of dollars into the hands of the country’s flailing real estate developers.
Why Office Buildings Are Still in Trouble
Hybrid work, layoffs and higher interest rates are leaving lots of office space vacant and hurting the commercial real estate business.
New York City Reaches Deal to Build Soccer Stadium in Queens
The New York City Football Club will pay roughly $780 million to build the stadium in Willets Point in Queens as part of a project that will include housing and a hotel.
As the Fed Raises Rates, Worries Grow About Corporate Bonds
Executives, analysts and bond traders are all wondering if corporate finance is about to unravel as interest rates rise.
For Fitness Buffs and Landlords, Gyms Are Hot Again
Hoping to capitalize on a renewed interest in communal experiences, fitness chains are reconfiguring their spaces, offering more room to exercise and better amenities.
Why Is New York Still Building on the Waterfront?
There are two simple reasons. One, it makes money. And two, people just love water.
Times Square May Get One of the Few Spectacles It Lacks: A Casino
The battle to win a New York City casino license has heated up in Manhattan, with real estate and gambling giants offering competing proposals for Times Square and Hudson Yards.
Small Businesses Build Their Own Supply Chains
They’re shifting to domestic sourcing and production, like some big manufacturers, but with at least one advantage the giants don’t have.
The Golden Age of Dispensary Interior Design Is Almost Here
As cannabis legalization has become more widespread, retailers are getting increasingly serious about the design and branding of their shops.
FOMO Helped Drive Up Housing Prices in the Pandemic. What Can We Expect Next?
Inflation-corrected prices may end up substantially lower as factors driving high home prices weaken with time.
NY Attorney General May Sue Trump After Rejecting Settlement Offer
The attorney general, Letitia James, is also considering suing at least one of the former president’s adult children as part of her Trump Organization inquiry.
‘The Future of Hospitals’: Flexible Space for the Next Pandemic
After struggling to respond to a crushing Covid caseload, many hospitals are remodeling so that when the next crisis comes, they’ll be better able to meet it.
Manhattan Has a Glut of Empty Offices. Hochul Wants to Build More.
Despite near record-high office vacancies, Gov. Kathy Hochul has backed a real estate project at the New York transit hub that would be one of the largest in American history.
American Real Estate Was a Money Launderer’s Dream. That’s Changing.
How Cleveland became a poster child for the need for more transparency in the U.S. real estate industry.
Trying to Keep Americans Camping With Treehouses and Yurts
Interest in camping soared in the pandemic, and now, as social-distancing restrictions are winding down, the sector is showing signs that it may maintain its popularity.
Red-Hot Warehouse Market Tested as Consumer Spending Slows
A slowdown in consumer spending in conjunction with an uptick in construction may spoil the favorable conditions that allowed owners to expand and raise rates.
How to Get Offices to Net Zero Energy Use
My co-workers and I radically cut our energy use in part by paying attention to seemingly mundane details.
New York Developers Rush to Reduce Emissions as Hefty Fines Loom
Building owners are trying to figure out how to pay for upgrades needed to comply with city regulations intended to fight climate change.
Can an ‘80s Extravaganza Be a Historic Landmark?
The throwback atrium at 60 Wall Street — which also provides access to the subway — has its fans, but its future is unclear.
Need for Speed Spurs Demand for Move-In-Ready Buildings
As vacancies for industrial space tighten, developers are building warehouses and labs on speculation, hoping a tenant will lease the space when construction is done.
Luxury Rental Buildings Take ‘Working From Home’ to the Next Level
Developers are adding professional office spaces to the list of amenities in their mostly new buildings in cities around the country.