Real Estate

CREW Network recognized excellence and achievement in commercial real estate by honoring seven industry leaders with the organization’s Catalyst, Circle of Excellence and Impact awards on Sept. 18 at the virtual 2020 CREW Network Convention. CREW Network’s awards programs recognize and celebrate extraordinary leadership and success in commercial real estate. Through these recognition programs, CREW

In August, Alexis Cohen and Brian Helfman started hunting for a larger apartment. The lease on their one-bedroom in Chelsea was up at the end of September. And after spending the prior three months at Cohen’s parents’ place in Gloucester, Mass., riding out the worst of the coronavirus pandemic, the couple returned to the city

Anyone around in the 1970’s is sure to remember the hit song by Rose Royce titled “Car Wash,” as it was one of the most notable successes during the ‘70s disco era and was featured in the 1976 film with the same name. However, over the past few years, the term “car wash” has taken

After losing his Tennessee bid for U.S. Congress, Texan icon Davy Crockett famously declared, “You may all go to hell, and I will go to Texas.” That was ancient history, way back in 1835, of course. But today, it appears that Joe Rogan — arguably the celebrity closest to embodying a modern-day Crockett ethos — is

On July 15, the extension deadline for 1031 Exchange investors to choose on their replacement assets passed. With the deadline in the rearview mirror, single-tenant net-leased (STNL) asset sale velocity flattened in August 2020, according to The August 2020 NNN Market Intelligence Report Chris Pappas, associate director with Marcus & Millichap’s Net Lease Division. Total

The pandemic has opened the door to a whole host of negotiations about rent abatements, other concessions and lease adjustments between retail landlords and their tenants.  “The pandemic has highlighted the need for many leases to have a greater degree of flexibility to accommodate significant business interruption better,” says Omar Eltorai, market analyst at Reonomy.

Kings County reigns supreme — at least when it comes to New York City real estate. The number of pending sales — also known as homes under contract — in Brooklyn indicates that the borough is booming in spite of the coronavirus, according to a new study. By contrast, the pandemic has significantly pushed down

In a CREW Network Virtual Convention panel last week, owners and operators of multifamily properties talked about how they are “seizing the day” in this environment and talk about why customer experience is key. Laurie Baker, EVP of operations at Camden Property Trust, said that Camden had to quickly move to a virtual leasing model

2020 may have scuttled scheduled gym sessions and fitness programs around the globe, but tech entrepreneur Payal Kadakia is keeping the workout going both professionally and personally. The ClassPass founder and chairman has swiftly adapted her company to a brave new normal — ClassPass was recently named the exclusive aggregator for all eight of Xponential

BOSTON – JLL has appointed Travis McCready as executive director and national practice leader within its life sciences practice. Within his new role, McCready will partner with and connect local market teams throughout the US, as part of JLL’s life sciences strategy. He will additionally serve as an advisor to clients; providing the full spectrum

As a provider of joint venture and general partner equity, real estate investment firm RanchHarbor has been seeing an influx lately of multifamily investment opportunities presented by sponsors as value-add. However, upon a closer look at the underwriting, these deals do not actually fit the typical value-add investment profile, says Adam Deermount, co-founder and managing director

There aren’t 99 bottles of beer on these walls, but there are thousands upon thousands of cans. Navy veteran Michael Amelotte spent 16 years lining the sides and ceilings of his Florida condo with empty cans of Budweiser. The estate of Amelotte, who passed away this year, put his two-bedroom condo in Lake Worth, Fla.,

The pandemic immediately impacted apartment leasing activity, but about six-weeks into the pandemic, leasing activity rebounded to normal levels. Quarantine, distance learning and work-from-home policies encouraged people to move to more accommodating homes, driving leasing demand. However, the leasing process has changed since the onset of the pandemic, and those changes—virtual leasing—will take longer to

Having settled into a sprawling contemporary mansion in L.A.’s proto-suburban neighborhood that they scooped up last year for $14.1 million, new parents Joe Jonas and Sophie Turner have decided to part with their condo in New York City’s fashionable Nolita neighborhood. The $5.9 million asking price is a good chunk below the $6.5 million price

Blackstone has announced the final close of its most recent real estate debt fund, Blackstone Real Estate Debt Strategies IV. The fund has $8 billion of total capital commitments, making it the largest real estate credit fund ever raised, according to the private equity giant. Blackstone Real Estate Debt Strategies has $26 billion of assets

With lockdowns and social distancing measures keeping people at home, tenants all across the US are having difficulty making their rent payments. Their requests for rent relief are starting to affect equity investors, according to a new report from Bryan Reid, executive director of MSCI Research, and Niel Harmse, senior associate, Global Real Estate Research.

Now this is a climatic scene. A behemoth air-scrubbing high-rise that looks straight out of a sci-fi flick has been designed for the middle of Roosevelt Island. The tree-studded, 2,400-foot-tall, futuristic proposal is planned to loosely resemble a mandrake plant — with a base like a cruise ship morphing into a gleaming twisty tower a

ALEXANDRIA, VA – Owner and developer, JBG Smith has acquired seven blocks of Citizens Broadband Radio Service spectrum spanning across Arlington County and the city of Alexandria. The owner and developer purchased the licenses through a national FCC auction, which concluded in late August. The investment is part of a broader initiative to establish National

The song “Aquarius” from the musical “Hair” references a time of peace, love, harmony, and “trust abounding.” So it is fitting that executive producer John McNamara chose to name his 2015 television series, set in 1967 Los Angeles — two years before the horrific Tate-LaBianca murders cast an indelible pall over the city — in

Healthcare is modifying to meet consumer demand in communities and in rural areas and is seeing changes with the implementation of telemedicine, medical office buildings in retail space, community hospitals and clinics, urgent care and dialysis centers. In a recent breakout session at the 2020 CREW Network Convention, panelists focused on how these modifications are

When a landlord is negotiating with a tenant, understanding its balance sheet, cash position and debt load and maturity schedule are key to a successful outcome.  “If they have debt, has the tenant had any conversations with the lenders about potentially extending the period when they need to service it or move interest payments back

Michelin-starred restaurant Caviar Russe is doubling down on its commitment to luxury cuisine — and to limping Madison Avenue. Its second-floor dining room at 538 Madison, near East 55th Street, will soon be joined by a ground-floor caviar bar and retail shop. The 2,000-square-foot venue, previously home to a ski boutique, will open in October

Former “Today” show host Matt Lauer, axed from his longstanding morning chat show duties (and the adoration of the public) in late 2017 after he was accused of sexual assault by multiple women, is once again trying to sell off his massive compound in the Hamptons, as was first reported by the The New York

The continues to be a significant gap between buyers and sellers on pricing. So far, sellers continue to hold onto pre-pandemic pricing, and many buyers are expecting a significant discount to take on extra risk and market uncertainty. Sabal Capital Partners has been in the market bidding on distressed properties, and has seen a significant

The apartment rental market is softening across market segments, from market-rate to affordable housing, and student housing is no exception. New research from Zillow shows that apartment rents in college submarkets are down .5% year-over-year as of August, the first time that college area rents have decreased since 2017, which was the first year that Zillow

A house that once belonged to suspected ax murderer Lizzie Borden is up for sale. The Victorian-style home in Fall River, Mass., where Borden lived until her death in 1927, was recently listed with Century 21 for $890,000. The property itself, located at 306 French St., is not directly connected to the infamous murders of

Affordable housing rent collections continue to struggle as the pandemic wears on. According to a new report from proptech company MRI Software, affordable housing rent collections were 77% of 2019 collections in August, and 76% of collections in July 2019. The report pulls from 1.5 million affordable housing units located throughout the US. Affordable housing

Over the last handful of years, standup comedian Iliza Shlesinger’s career has kicked into overdrive. And as her star (and fortunes) have risen, she’s steadily, impressively and in fairly short order upgraded her residential circumstances in Los Angeles. About eleven years ago, following her win as the first woman, and the youngest, winner of NBC’s

The National Apartment Association has joined the New Civil Liberties Alliance in a lawsuit challenging the US Centers for Disease Control and Prevention’s national eviction moratorium that it ordered earlier this month. The New Civil Liberties Alliance is a group focused on reigning in the expansion of federal agency powers. The associations are seeking a

Given corporate America’s reluctance to return to offices rather than work from home, current conditions in office properties—and the likely near-term future—are looking bleak. Looming excess supply on the horizon will also be a problem, according to a new report on the top 25 US Office Markets from Colliers International. All told, the mid-year research