Northeast

The latest forecast from Christopher Thornberg of Beacon Economics predicts a bad quarter, but not necessarily a recession.

The company has created industry-specific checklists based on CDC and OSHA guidelines for commercial and multifamily owners to use free of charge.

The Realty Advisory Board on Labor Relations (RAB) and service workers union 32BJ have reached an agreement on a package of protections and extended health benefits for residential and commercial building service workers during the current coronavirus pandemic.

Critics say the law should redefine distressed areas and prevent investments in casinos, stadiums, luxury hotels, student housing, storage facilities and high-end housing from qualifying for the tax breaks.

The current economic landscape and public health crisis born from the coronavirus has spelled uncertainty for real estate investors across all asset classes, however, multifamily investors are strong in their belief that affordable housing will prevail.

Long-term residential housing investors are seeing opportunity with the possibility of pricing adjustments.

A pair of mixed-use buildings in the Lenox Hill neighborhood of Manhattan's Upper East Side has changed hands. Located at 1364 and 1368 York Ave., the properties sold for $13.85 million. Jones Lang LaSalle represented the seller in the transaction.

Renters are flocking to the Hamptons upstate New York for cover from the coronavirus in the five boroughs, which appear to pose more risk for contraction because of the high-density neighborhoods, Eddie Shapiro, founder of brokerage firm Nest Seekers, tells GlobeSt.com.