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San Francisco is pursuing policy measures to increase residential apartment development in response to rental rates exceeding those in New York City.
A former pharmaceutical headquarters in New York undergoing conversion to multifamily housing has had safety netting installed due to structural concerns with buckled columns.
This is a market report published by CBRE in September 2025 covering data center trends in the first half of 2025 for the New York Tri-State region. The report addresses the data center sector across New York and broader national geography.
This is a national self-storage market report published by Yardi Matrix in April 2025 covering multiple U.S. markets including Washington D.C., Chicago, San Francisco, New York, and Boston. The report presents data and figures on the self-storage sector.
This is a market report published by CBRE in April 2025 covering the life sciences sector in the New York City market. The report is part of CBRE's Global Life Sciences Atlas series and includes geographic focus on New York State and national scope.
Jackson Laboratory leased 41,000 SF at 619 West 54th Street's Hudson Research Center, owned by Taconic Partners' Elevate Research Properties.
New York City multifamily sales totaled $2.46 billion across 298 transactions in the second quarter of 2026, representing a 25% year-over-year increase in dollar volume but 4% decline in transaction volume compared to Q2 2025, Ariel Property Advisors reported. The number of properties traded was down 11% Y-O-Y to…
Third-party logistics provider Highline Commerce is expanding its industrial footprint at Brooklyn’s Industry City for the second time in four years, Commercial Observer has learned. Highline’s lease renewal at 67 34th Street in Brooklyn’s Sunset Park neighborhood tacked on another 18,000 square feet to its…
This is a news article published by Inside Self-Storage in July 2026 reporting on a lawsuit settlement between Extra Space Storage, a self-storage REIT, and the New York City Department of Consumer and Worker Protection. The item covers a legal matter involving the self-storage sector with relevance to New York City operations.
Bentley Zhao’s New Empire Corporation, a New York City-based developer of residential mixed-use buildings, dropped $33.5 million to acquire a Midtown parking garage at 10 East 30th Street, according to a deed filed in property records on Thursday. The purchase, made through the entity Rolls Yacht Tower Management,…
The New York City Rent Guidelines Board’s decision to impose the first-ever two-year freeze on rent-stabilized apartments raises a simple question: Why commission months of economic research if you’re going to ignore it? Or put another way: If the Rent Guidelines Board (RGB) ignores its own data, why do we need the…
NEW YORK CITY — A joint venture between Global Holdings and MAG Partners will develop a 149-unit apartment building in Manhattan’s SoHo district. The new building at 122 Varick St. will include 5,000 square feet of ground-floor retail space, and 25 percent of the units will be designated as permanently affordable…
DENVER — Jason Hornik and Greg Parker with Marcus & Millichap’s Denver office have brokered the sale of The Jewell at 4470 E. Jewell Ave. in Denver. A New York-based… The post Marcus & Millichap Brokers Sale of The Jewell in Denver appeared first on Multifamily & Affordable Housing Business .
The post New York People and Company News, Week of July 17, 2026 appeared first on Connect CRE .
Locally based Synergy and New York-based Axonic Capital have acquired 265 Franklin St., a 21-story Class A office tower in Downtown Boston. The acquisition marks the first joint venture between the two firms. The seller was Clarendon Properties and the acquisition price was $116 million, according to the Boston…
A vast majority of cooling towers in New York City have been out of compliance with city health laws over the past decade, which could complicate the city's response to its second major Legionnaires’ disease outbreak in as many years. Since 2017,...
Mayor Zohran Mamdani on Thursday issued the Rental Ripoff Report, a package of 23 tenant protection recommendations. The Real Estate Board of New York (REBNY) responded with a statement from President James Whelan saying that the administration “continues to paint property owners with a broad brush, unfairly…
This is a market report published by Commercial Observer in July 2026 examining the hotel sector in New York City and its recovery trajectory relative to pre-pandemic performance levels. The report addresses capital markets and hospitality sector dynamics in New York.
Scoop N Scootery, a rapidly expanding ice cream franchise with 10 locations across seven states, has selected Bleecker Street for its first New York City location. Lee & Associates NYC arranged the 1,325-square-foot retail lease at 162 Bleecker St., where the company signed a 15-year lease for the ground-floor…
PARAMUS, N.J. — RH Outlet has opened a 50,700-square-foot store in the Northern New Jersey community of Paramus. The luxury home furnishings retailer has relocated its Paramus store from an unspecified, nearby space to a freestanding building within Ikea Drive Plaza. Curtis Nassau and Patrick Brake of RIPCO Real…
NEW YORK CITY — San Francisco-based Airbnb has purchased 281 Park Avenue South, an office building in Midtown Manhattan, for $81.5 million, according to reports from multiple news outlets, including The Wall Street Journal (WSJ) and the New York Post. The landmarked, six-story building is known locally as Church…
This is a news article published by Commercial Observer in July 2026 discussing New York's Fair Fares program expansion and its relationship to affordable housing. The article covers topics related to capital markets and affordable housing with geographic focus on New York.
NEW YORK CITY — Apex Building Group and L+M Development Partners have obtained approximately $217 million in financing for the third phase of the Alafia project, an affordable housing community… The post Apex, L+M Obtain $217M to Finance Phase II of Alafia in Brooklyn appeared first on Multifamily & Affordable…
New York City renters have never paid more for their housing — and their options on where to live are dropping.
After two defaults, New York-based Columbia Property Trust has struck a deal with its lenders to restructure approximately $1.8B of debt backing a seven-building portfolio. The June agreement will modify the debt, which is secured by buildings in San...
Nonprofit Graham Windham signed a five-year lease for 9,833 square feet on the 14th floor of the Interchurch Center at 475 Riverside Drive in Manhattan's Morningside Heights neighborhood at $29 per square foot, relocating its headquarters from West 127th Street in August 2026. The century-old organization, which provides foster care, adoption services, therapy and family programs, will join other mission-driven nonprofits and organizations including Bank Street College of Education, Columbia University, and Children's Health Fund at the 600,000-square-foot building.
The U.S. Department of Defense signed a 23,600-square-foot lease for a 10-year term at 1 Old Country Road in Carle Place, New York, the former headquarters of 1-800-Flowers, with landlord DBD Realty Group, and is expected to take occupancy in early 2027 following buildout. The five-story office building recently underwent a $22 million repositioning and already houses the Federal Aviation Administration, which occupies over 74,000 square feet across two floors under a 15-year lease that began in 2023.
New York Gov. Kathy Hochul on Tuesday signed an executive order to create the nation’s first moratorium on new hyperscale data centers. The order temporarily pauses state environmental permits for up to one year in order to build a regulatory framework that protects ratepayers, the environment, the energy grid and…
NASHUA, N.H. — Nashville-based brokerage firm Matthews has arranged the $8.8 million sale of a 44,000-square-foot retail property in Nashua, located on the Massachusetts-New Hampshire border. According to LoopNet Inc., the property at 166 Daniel Webster Highway is a freestanding structure that was built on 2.6…
JLL has secured a $275 million refinancing and a $57 million mezzanine financing for NEMA Chicago, a luxury multifamily tower and the city’s tallest all-rental residence. JLL represented the borrower, Crescent Heights, in facilitating the five-year, fixed-rate loan through New York Life Insurance Company. JLL also…
Gov. Kathy Hochul signed an executive order Tuesday to impose a yearlong ban on data center construction, making New York the first state to block the development of large-scale server farms. The moratorium deals a blow to New York’s $10B data center...
NEW YORK CITY — Seniors housing and multifamily bridge lending platform MonticelloAM has added Jason Liu to its accounting team as deputy chief financial officer. Liu will oversee investor and lender… The post MonticelloAM Adds Jason Liu as Deputy Chief Financial Officer appeared first on Seniors Housing Business .
NEW YORK CITY — SPORTFIVE has signed an 18,038-square-foot office lease in Midtown Manhattan. The German sports marketing firm will occupy a full floor at 477 Madison Avenue, a 24-story building. Peter Van Duyne and Alex Lachmund of Cushman & Wakefield represented the tenant in the lease negotiations. Arkady…
New York Governor Kathy Hochul signed an executive order establishing the nation's first statewide data center moratorium, imposing a one-year ban on construction of facilities with at least 50 megawatts of capacity, while directing state regulators to develop new environmental, energy, and water-use standards. The moratorium was enacted amid concerns that increased data center development driven by AI demand could increase utility bills and strain natural resources, though industry experts disputed the necessity of the restriction.
By Jack Stone, managing director, Greysteel In the last week of June, two things happened in the American multifamily market that belong side by side: New York froze rents, and the Dallas Fed confirmed that Texas is drowning in apartments. One of those scenarios involves a market correcting itself. The other is a…
STAMFORD, CONN. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has sold Stamford Urby to Pantzer for $221 million. CBRE’s Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, Travis… The post CBRE Arranges $221M Sale of Stamford Urby appeared first on Multifamily & Affordable Housing…
Rose Associates, a New York-based multifamily property manager, has more than 40,000 units under management. It’s already one of the largest firms in the region, but it's not stopping there. The firm is rapidly expanding its presence throughout the...
Glasshouse has signed a long-term lease for 66,436 square feet at 3 World Trade Center. The 30-year agreement for a portion of the ground floor and the entirety of the second and third floors brings the event, hospitality and experiential venue operator to the World Trade Center campus for its fourth Manhattan…
Midwood Investment & Development purchased 423 Fulton Street in Downtown Brooklyn, a four-story mixed-use building with ground-floor Panda Express retail and office space occupied by Staywell Medical Group, for $9.5 million from an LLC that included real estate investor Ralph Braha and the Nakash family. The transaction occurred amid a retail resurgence in the neighborhood following plans to redevelop the former Macy's building across the street into a retail and amusement destination called BKX.
New York State remains one of the nation’s largest economic engines, but growth increasingly is concentrated downstate and in a few upstate urbanized employment centers, the Citizens Budget Commission (CBC) reported Monday. Outside the opportunity corridor, encompassing the New York City metro area and the Capital…
Brookfield is in talks to take a 10% stake in Hudson Square Properties, a 13-building office complex on the West Side of Manhattan. The deal would value the 6.2M SF campus, which is positioning itself as a nucleus for tech and media tenants in the city,...
Brookfield is buying into the $3.5 billion Hudson Square Properties as AI firms drive Manhattan West Side leasing and rents up 20%. The post Tech Leasing Surge Pushes Hudson Square Portfolio to $3.5 Billion Valuation appeared first on Propmodo .
Luxury developers in Los Angeles and New York are building vertiports for electric air taxis years before FAA certification arrives. The post California Developers Build Vertiports Before Air Taxis Win Approval appeared first on Propmodo .
NEW YORK CITY — San Francisco-based investment firm Spear Street Capital has purchased 76 Eighth Avenue, a 10-story office and retail building in Lower Manhattan, for $50.5 million. The 35,620-square-foot building was completed in 2022 and was fully leased at the time of sale, with Wells Fargo occupying the retail…
NEW YORK CITY — Energy Capital Partners has signed an office lease expansion in Lower Manhattan. The infrastructure investment firm previously occupied the entire 58th floor of One World Trade Center and has now taken the entire 59th floor, yielding a total footprint of 70,425 square feet. Eric Zemachson and Corey…
NEW YORK CITY — JLL has negotiated the sale of two multifamily development sites in the Crown Heights area of Brooklyn for a combined price of $25.1 million. The sites at 1029 Dean St. and 1104 Pacific St., which traded in separate off-market deals, have a combined buildable square footage of about 129,000 square…
Brookfield is in exclusive talks to acquire a 10 percent stake in Hudson Square Properties, a 13-property portfolio valued at $3.5 billion on Manhattan's West Side, which would replace Hines as the joint venture's operating partner after a decade. The deal is expected to close in the coming months and comes as Hudson Square has attracted major tech and media tenants including Anthropic, PayPal, and Notion amid a citywide shortage of desirable office space.
On July 7, 2026, two steel support structures buckled at the former Pfizer headquarters at 235 East 42nd Street in Manhattan, causing five floors to begin caving in; the building was an office-to-residential conversion by Metro Loft and David Werner Real Estate Investments, and nobody was injured, though union leaders and city officials criticized the construction quality. The same week saw significant office leasing activity in New York, including Loeb & Loeb expanding to 178,959 square feet at 345 Park Avenue, NBCUniversal renewing 244,185 square feet at 1221 Avenue of the Americas, and Ralph Lauren adding 22,000 square feet to reach 280,000 square feet total at the Starrett-Lehigh Building.
Douglaston Realty sold 7 Cornelia Street, a five-story prewar West Village building containing 47 apartments and two ground-floor retail spaces, for $25 million, with the buyer masked behind a shell corporation and a $17.6 million mortgage from Woori America Bank. The property was originally acquired by Douglaston in 2013 for $24.6 million, and investor Hyun Jun An, who signed the mortgage documents, has been involved in recent acquisitions including 893 Broadway in the Flatiron District for $31 million and 16 East 18th Street for $16.3 million.
Apex Building Group and L+M Development Partners secured $217 million in construction financing for the third phase of the Alafia Project in East New York, Brooklyn, which will deliver 273 units of affordable housing and public green space, with funding provided by Redstone Bank, Goldman Sachs Urban Investment Group, New York State Energy Research and Development Authority, and New York State Homes and Community Renewal through Low-Income Housing Tax Credits and tax-exempt bonds. The broader Alafia redevelopment project will ultimately transform 27 acres of the former Brooklyn Developmental Center into approximately 2,600 affordable housing units, a 50,000-square-foot community medical facility with senior health services, and over 20,000 square feet of public green space, with Phase 3 expected to complete in 2029.
Investment firm Mavik Capital Management is looking to raise capital for a new distress fund. The New York-based firm seeks to raise $1B to acquire distressed commercial real estate assets, Bloomberg reported. The money will go into a new fund called...
It’s not just New York and California — the office market is getting healthier across the country.
SUCCASUNNA, N.J. — Senior Living Investment Brokerage has arranged the sale of a nine-acre entitled development site located in Succasunna an unincorporated community located in Roxbury Township, roughly 45 miles northwest… The post SLIB Arranges Sale of Development Site in New Jersey appeared first on Seniors…
NEW YORK CITY — JLL has arranged a $44.5 million refinancing loan for locally based Benchmark Realty Group’s 61-unit property at 194 East 2nd St. in Manhattan’s East Village. Citi… The post JLL Arranges $44.5M ReFi Following Benchmark’s East Village Renovation appeared first on Multifamily & Affordable Housing…
West Palm Beach, FL, where the typical luxury home costs 8.9 times more than the typical non luxury home, has the nation’s biggest luxury home price premium. Next comes Miami, with a median luxury-to-non luxury home price ratio of 8.8, and New York City, where the typical luxury home costs 5.5 times the typical non…
FAIR LAWN, N.J. — Finance and investment management firm PCCP has provided a $66.9 million loan for the development of a new active adult community located in Fair Lawn, roughly 25… The post PCCP Provides $66.9M Loan for Active Adult Development in Metro New York City appeared first on Seniors Housing Business .
Analysis of the Newark Airport hotel submarket's recovery trajectory following pandemic-related disruptions, examining supply changes and passenger rebound impacts.
EAST ISLIP, N.Y. — Benchmark Senior Living and National Development have acquired a property in East Islip on Long Island, with plans to develop a new seniors housing community at the… The post Benchmark, National Development Plan 90-Unit Community on Long Island appeared first on Seniors Housing Business .
Harrison Street Asset Management completed the acquisition of two senior housing communities located in Connecticut.
NEW YORK CITY — Gilbane and partners have closed on financing for 1920 Turnbull, a $170 million, 228-unit affordable and supportive housing project in the Castle Hill/Soundview neighborhood of the… The post Gilbane, Partners to Develop $170M Affordable Housing Tower in The Bronx appeared first on Multifamily &…