Hotels

JLL's annual report says consumers seek experiential travel and international activity will increase in 2019.

The New York City metropolitan area remained the top market in the US with $28.7 billion in commercial/ multifamily construction starts, an increase of 10% after posting a 13% decline in 2017.

The commission's report states that accountability and transparency has not meaningfully improved since its 2016 report was issued.

The team will engage in a value-add strategy focused on identifying under-managed and under-capitalized assets and will seek to create value by improving management, performing incremental leasing and increasing rents via strategic capital improvements.

TF Cornerstone and MSD Partners are redeveloping the hotel that's next to Grand Central Terminal into a 2 million square-foot, mixed-use asset.

The deal marks the 14th hotel property sold by the McLean, VA-based REIT in the past year as part of its ongoing program of recycling non-core assets.

Business and political leaders have expressed deep concern that a long-lasting moratorium could have a dramatic impact on the billions of dollars in new development projects that are in the pipeline in the affected areas of the county that include the cities of Mount Vernon, Yonkers, New Rochelle and White Plains.

The Witkoff Group's founder says if you can navigate building in New York, you can build almost anywhere.