Month: September 2020

COVID-19 is continuing to force corporations into bankruptcy, which could mean further deterioration in office fundamentals. As of Sept. 7, 470 companies have gone bankrupt in 2020, which is more filings than during any comparable period since 2010, according to an S&P Global Market Intelligence analysis. There was some good news as the number of

I am leaving New York next week. Add me to the list. Another tick in the “New York is dead” column. Or maybe in the “Cowards who can’t wait out the pandemic” column. Wag your finger at me or shake your head in disgust. Tut tut. Tsk tsk. Don’t worry. I’m already doing it to

Looks like “The Real Housewives of Beverly Hills” star Dorit Kemsley and her businessman hubby Paul “P.K.” Kemsley have decided they no longer want to live in the nearly 9,000 sq. ft. modern farmhouse-style Encino, Calif., mansion they bought only just a year ago and raved endlessly about on the current season of the long-running

For years, life science companies have made their home in metro areas like Boston and the Bay Area. But Mark Hefner, CEO and shareholder of MGO Realty Advisors, says that is changing. “Major metropolitan cities like Boston, San Francisco, Seattle and San Diego that have been long-established life science hubs are expensive to operate in,”

If a landlord thinks a tenant can survive after the COVID economic crisis passes, they’re usually motivated to work on payment plans, according to Luis Martinez-Monfort, founding partner of law firm Gardner Brewer Martinez-Monfort. “The appetite to work through forbearance from both the tenant and landlord is pretty high because I don’t think landlords believe,

In-unit smart technology is building momentum. RealPage company STRATIS IoT, a technology platform that links apartment smart home systems to personal devices, has partnered with Alexa for Residential through Amazon. The partnership will provide voice access for the STRATIS IoT platform through Alex-enabled devices. As a result, participating residents will have voice control over more

High-flying MCR Development, which launched the retro-styled TWA Hotel at John F. Kennedy Airport, has added another trophy to its lodging portfolio: The fabled Royalton Hotel at 44 W. 44th St., which it snatched for $44.8 million — a 15 percent discount from what it last fetched in 2017. MCR is the sixth-largest hotel owner

Ready to feel old? “Almost Famous” turns twenty today! The beloved semi-autobiographical film helmed by writer/director Cameron Crowe (available for streaming here) debuted at the Toronto International Film Festival on September 8th, 2000. Yep, “it all happened” two decades ago! Besides serving as the first big break for a plethora of young actors, including Kate

In a new report, Cushman & Wakefield indicates that office pricing should recover by late 2022. To get to this conclusion, Cushman & Wakefield presumed US office employment declines by 1.2 million jobs in 2020, Congress passes another fiscal relief bill, the Coronavirus situation begins to resolve by mid-2021 and the historical relationship between job

More than ever, lenders and brokers are relying on hard data on the multifamily real estate market—from analytics to unusual metrics—to maximize returns and mitigate risk, wrote Tim Blackwell, president of Ballpark Impressions, in a blog for RealPage.  “Operators, developers and investors began watching data closely when the current cycle began skidding this spring,” he wrote. Blackwell

DALLAS—More than 9,300 US retail store closures were announced in 2019 according to an analysis by Business Insider. The 2019 closures broke the previous record of roughly 8,000 store closures in 2017. And, at the beginning of 2020, Business Insider confirmed that retailers would close at least 5,100 stores. However, beneath the cloud of uncertainty

On “The Morning Show,” the fictional news anchor played by Steve Carell occupies a sprawling Los Angeles penthouse, which is hitting the auction block auction next month. The two-bedroom, 3½-bathroom unit at 1050 S. Grand Ave. in Downtown LA is 3,900 square feet. The minimum bid for the auction, set for on Oct. 22, is

It’s hard to believe nearly three years have passed since 66-year-old music legend Tom Petty unexpectedly died after slipping into unconsciousness at his Malibu home. Since then, Dana York Petty — the former educator who was Petty’s wife for the last 16 years of his life — has continued living at the same Malibu estate,

The pandemic has impacted every segment of the commercial real estate market, and opportunity zones are no exception. At the start of the pandemic, opportunity zone investments froze along with the rest of the industry, bringing a halt to fundraising activity and transactions. While the industry is starting to recover and there is still tremendous