Yun blamed the low inventory of moderately-priced homes as a chief reason why home sales are not increasing and home sales prices are rising.

The assets totaling 26,923 square feet were sold for approximately $7.46 million, which afforded the company to pay down $4.5 million of property-level debt and $1.6 million of its Revere loan.

Blanda relates that the prospects of higher rates will prompt some senior property owners, particularly nursing homes, to lock in long-term rates before further rate hikes.

The State Comptroller's report notes that New York was one of just 11 states that sent more in tax dollars to Washington in federal fiscal year 2017 than it received. Only New Jersey, Massachusetts and Connecticut fared worse in terms of the tax/funding ratio.

The retail town center will serve as the shopping and dining core for the long-anticipated Park Center, an ambitious mixed-use development project in Research Triangle Park that will include more than 1,000 residential units, a hotel, a conference center and more than 1 million square feet of office space.

The Southport, CT-based development firm says the extremely discounted price will allow Summit Development to renovate and reposition the 1.2 million-square-foot complex.

The average asking rent across Manhattan's 16 main retail corridors dropped 8.4% year-over-year, falling from $875-per-square-foot to $802 per-square-foot.

The property when completed in 2021 will mark the first M Social property built in North America and fourth globally to join the collection following Singapore, Auckland and Suzhou.