Northeast

Silverback Development, a New York-based real estate owner, developer and investor, is slated to welcome its first tenants to move into its luxury condominium at 24-16 Queens Plaza South, in Long Island City. The property, dubbed the HERO LIC, features 109 luxury condominiums with views of Manhattan.

Investors are poised to take precaution on portfolio decisions amid frozen market supply and demand because of the coronavirus pandemic, which has left businesses shuttered and a large number of tenants short on rent payments. As a result, borrowers are strained to make loan payments, which they fear could go into default.

CRE CLOs are not included in the Fed's expanded TALF term sheet but the CRE Finance Council will be advocating for their inclusions.

It is a mistake to approach a landlord opportunistically with a rote form letter, says Vestian Chairman Michael Silver.

Companies will still find value in having people together physically, Colliers states in its released report.

The 32,184-square-foot multifamily property closed at $4.7 million, or approximately $149 per square foot.

The Labor Department reported that 214,836 workers filed for unemployment during the week of March 29-April 4, up from 206,253 the week earlier (March 22-28) and 155,815 during the week of March 15-21.

Most contracts allow for both the developer and the contractor to exit the agreement, but include specific provisions and potential payments to do so.