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NEW YORK CITY-Having accepted 15,000 applications since August for the federally-sponsored Residential Grant Program, the Lower Manhattan Development Corp. has approved the first round of grants and will begin distributing those funds this month. This first approval for 313 applicants will total $625,000.
NEW YORK CITY-Several local REITs including Englewood, CO-based Archstone-Smith are among those circling the 99-unit residential offering, says a close source. With an asking price of $14 million, the Eric Margules-owned portfolio has received nearly 25 bids since hitting the market two weeks ago.
NEW YORK CITY-Supported by loans made by Bank of America and CIGNA Corp. on 15 commercial properties scattered throughout the US, BoA yesterday offered $533 million in CMBS. All but one of the properties has terrorism insurance coverage, a BoA spokesman tells GlobeSt.com.
NEW YORK CITY-The tenants and leasing agent of the US Postal Service-owned building, located just north of the World Trade Center site, have each submitted a logistical draft to their insurers to cover ongoing renovations on the 15-story structure. One tenant tells GlobeSt.com its total recovery cost is $93 million.
NEW YORK CITY-The third event in the 2002 RealShare series will take place at Manhattan's Roosevelt Hotel on Oct. 9. Numerous industry leaders will speak at the one-day event, which is being supported by CoreNet Global-New York Chapter, REBNY and YM/WREA.
NEW YORK CITY-The 18-unit, 88,000-sf building has been in Mark Shenker's family for years, but is now being sold for $5.8 million as TransWorld Corp. exercises its option to purchase based on an initial lease-signing in April.
NEW YORK CITY-Cushman & Wakefield market analysts are predicting that much of Downtown's class B/C office space may be converted to residential, as property owners look to stay afloat in a market burdened under 13.6% total vacancy. A company office retrospective indicates class A asking rents in Lower Manhattan have dropped 13% during the past 12 months.
NEW YORK CITY-Citicorp Real Estate sells the Isla Verde Crowne Plaza Hotel to HR Properties Inc. for $26.5 million. The buy is a hedge on the Puerto Rican hotel market, currently recovering from its worst slump since 1982.
NEW YORK CITY-The publicly owned REIT makes its third industrial play with an acquisition in the Walden Commerce Exchange Industrial Park in Cheektowaga, NY. This building is currently under a 10-year net lease with FedEx Ground Package System Inc.
NEW YORK CITY-Geoffrey Wharton starts today as CEO of the residential brokerage arm of Insignia Financial Group Inc., while both the president and managing director of that program reveal plans to leave next year to start their own service business.
From Placer.ai
Discover which 10 retail and dining brands are positioned for potential growth in 2025, and three surprise contenders that could make a major impact.
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Renter default is a critical challenge. This report, based on a survey of 400+ multifamily professionals, reveals key trends, economic drivers, and mitigation gaps to help you build resilience in 2025. You'll gain insights into the root causes of renter default, the operational strains it can put on your portfolio, and strategies you can leverage to protect your investments and maintain stability.
Download ResourceFrom Building Engines
How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.
Download ResourceFrom TheGuarantors
Skyrocketing economic uncertainty means it’s essential for multifamily owners and operators to strengthen risk mitigation capabilities. Discover expert insights from industry experts, including the President of NMHC, to tackle 2025 challenges such as slower lease-ups, cost pressures, renter fraud, high reliance on concessions, and more.
Download ResourceFrom Placer.ai
Dive into the data to explore domestic migration patterns over the past four years -- and uncover states and metro areas emerging as relocation hotspots in 2025.
Download ResourceFrom Assurant
Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.
Download ResourceFrom Placer.ai
Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!
Download ResourceFrom Placer.ai
Discover which 10 retail and dining brands are positioned for potential growth in 2025, and three surprise contenders that could make a major impact.
Download ResourceFrom TheGuarantors
Renter default is a critical challenge. This report, based on a survey of 400+ multifamily professionals, reveals key trends, economic drivers, and mitigation gaps to help you build resilience in 2025. You'll gain insights into the root causes of renter default, the operational strains it can put on your portfolio, and strategies you can leverage to protect your investments and maintain stability.
Download ResourceFrom Building Engines
How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.
Download ResourceFrom TheGuarantors
Skyrocketing economic uncertainty means it’s essential for multifamily owners and operators to strengthen risk mitigation capabilities. Discover expert insights from industry experts, including the President of NMHC, to tackle 2025 challenges such as slower lease-ups, cost pressures, renter fraud, high reliance on concessions, and more.
Download ResourceFrom Placer.ai
Dive into the data to explore domestic migration patterns over the past four years -- and uncover states and metro areas emerging as relocation hotspots in 2025.
Download ResourceFrom Assurant
Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.
Download ResourceFrom Placer.ai
Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!
Download ResourceFrom Placer.ai
Discover which 10 retail and dining brands are positioned for potential growth in 2025, and three surprise contenders that could make a major impact.
Download Resource