Barbara DeLeo rolled out the pink carpet in her Staten Island home when she moved there in 1969. Her four-bedroom property is completely covered in shades of blush — her favorite color — from a bar and bathroom tile to wall coverings and window trim. “Everyone … calls it the bubblegum house,” said DeLeo, 83,
Real Estate
After opening for outdoor dining following months of lockdowns and economic hardship, US restaurants are recovering, but at a glacial pace. Indeed, a new report by S&P Global Market Intelligence revealed that the recovery of sales and employment slowed down in August. “August sales for the embattled industry fell about 15% from the year-ago period,
Ryan Murphy’s new “One Flew Over the Cuckoo’s Nest” prequel, “Ratched,” finally dropped today on Netflix. The highly-anticipated origin story takes a look at the early career of infamous villain Nurse Mildred Ratched (played by a deliciously vicious Sarah Paulson) as she perfects her special brand of patient care and lobotomy skills at the fictional
Institutions are becoming increasingly interested in manufactured housing. To name one recent example, Blackstone Group is in exclusive talks to acquire about 40 parks from Summit Communities for roughly $550 million through its REIT, Blackstone Real Estate Income Trust, according to Bloomberg. These investors are drawn to the sector for its resiliency and upwardly trending
With all of the carnage in the office market, law firms should be asking hard questions about their space as they plan for the future. Right now, real estate is the second largest expense of law firms behind employees for law firms, according to Ryan Hoopes, a director in the Legal Sector Advisory Group at Cushman
According to the Real Estate Board of New York’s recent Q2 report, residential sales prices are down 13% year-over-year. Sales volume, meanwhile, has fallen off a cliff to the tune of a 43% year-over-year drop, an all-time record since REBNY started tracking that figure in 2006. Simply put, it’s a terrible time to sell an
Like the rest of the commercial real estate community, the net lease sector experienced a grim second quarter. Unlike the rest of the industry, though, net lease appears set to have a robust second half. That is the consensus of the panelists at GlobeSt.’s Net Lease virtual conference, held Thursday. “Things have come back since
Having bought a larger, historic home in nearby South Pasadena, sketch comedian, actor and writer Anders Holm has put his former home, an updated 1920s English storybook Tudor on a slender, winding street in L.A.’s hipster-filled Silver Lake neighborhood, up for grabs at $2.1 million. Not counting carrying costs, improvement expenses and real estate fees,
Earlier this week, The Connell Company announced that it has partnered with Hana to open and operate Round Table Studios, a shared flexible workspace at Connell Park in Berkeley Heights, NJ. Round Table Studios, which provides curated office spaces, amenities and hospitality services for co-working, mid-to-large tenants and their guests, will occupy 40,000 square feet
Dying malls have a viable use case: conversion into logistics facilities, according to a new report from Prologis. This is not exactly news: such projects have long been hyped as the answer to struggling class C and class D malls. The problem was, there have been only a few successful projects. That may be changing.
A new Brooklyn townhouse with its own indoor pool is on the market for $7.99 million. The 25-foot-wide home, at 72 Middagh St. in Brooklyn Heights, comes with its own two-car garage. (That’s a plus, because more New Yorkers are driving due to the coronavirus pandemic.) At 5,500 square feet, the home opens to a
Blackstone Group is in exclusive talks to acquire about 40 parks from Summit Communities for roughly $550 million through its REIT, Blackstone Real Estate Income Trust, sources have told Bloomberg. Once acquired, BREIT will invest in upgrades, including building shared facilities such as swimming pools, a source told Bloomberg. Manufactured homes have become a valued
About five years ago, feeling what he called “suffocated” by his blockbuster Hollywood career, Australian heart-throb Chris Hemsworth, one of the highest paid actors on the planet who hauled in an estimated $76.4 million in 2019, and knock-out Spanish model and actor Elsa Pataky, best known for her role in “The Fast and the Furious”
In line with the topsy-turvy world that’s been created by the Coronavirus pandemic, a majority of young adults likely eager to strike out on their own are instead moving in with family members. That trend poses a threat to new household formation as well as to rent rolls, according to several research reports. As of
While Hines’ Senior Managing Director John Heagy was able to close a massive deal with Microsoft at the 523,000 square-foot Atlantic Yards office development in West Midtown Atlanta in May, he admits COVID has upended the office leasing process. “There is no question that the environment for traditional marketing has been completely rocked,” Heagy says.
St. Jetersburg is on the market. Derek Jeter and his supermodel wife, Hannah, are putting their palatial mansion in Tampa, Fla., on the market, with an asking price of $29 million, according to the New York Times. “This is the most impressive home to ever hit the market in the Tampa Bay area,” Stephen Gay,
Cushman & Wakefield has launched an alliance with co-working firm Industrious to offer landlords integrated management of traditional and co-working space, according to The Wall Street Journal. The new offering comes as the industry debates the value of co-working space during a pandemic and when the office asset class is struggling to make sense of
Having last year dropped $2.15 million on a nearly 100-year-old Spanish home in L.A.’s low-key but increasingly expensive Beverly Grove neighborhood, “Moone Boy” star Chris O’Dowd and writer/presenter Dawn O’Porter have none-too-surprisingly put their former home in the nearby Melrose District up for grabs at almost $1.8 million. The showbiz couple, he a 2019 Emmy
It should come as no surprise that the COVID-19 pandemic sent the investment market reeling. When the full impact of the crisis was setting in back in the first quarter, all sectors of the net lease market felt the dire pinch. Slowly, however, investors seem to be coming out of hiding and creating some activity,
NEW YORK – WeWork has designated Dock 72 at the Brooklyn Navy Yard as one of its flagship headquarter locations for its New York City-based employees. Dock 72 serves as WeWork’s first-ever ground-up construction project. The property additionally represents one of WeWork’s more than 70 buildings in New York City. The co-working company opened several
If the jeans fit, buy them. But if Tommy Hilfiger’s Greenwich, Conn., estate suits your needs, prepare to reach deeper into those pockets. The fashion designer has put his palatial property in the posh county on the market for $47.5 million. The Wall Street Journal first reported the listing. Hilfiger is a serial house-flipper in
Throughout the economic cycle’s ups and downs, industry stakeholders have been striving to manage and track to the wealth of capital flowing in and out of commercial real estate. Handling the entire process, at the center of it all, are the arrangers of debt and equity transactions. These middlemen and middlewomen are working to structure
Charlize Theron, who took home an Oscar in 2004 for “Monster” and earned her third Oscar nomination earlier this year as broadcast journalist Megyn Kelly in the 2019 biodrama “Bombshell,” seeks to thin her considerable Los Angeles area property portfolio, listing an updated 1920s Spanish bungalow along one of the most coveted streets in West
Mimi Nguyen is executive vice president of underwriting at KBS in Orange County, CA. Nguyen is a member of the KBS Investment committee which evaluates and authorizes all new investment opportunities and oversees a team responsible for the underwriting, due diligence, and closing of acquisitions. Mimi Nguyen. How can women better position themselves for success
“Commercial real estate firms that don’t prioritize DEI will be left behind,” Mann said. “They will miss the talent and miss the opportunity to have a more profitable bottom line.” Despite a closing gap in base salaries, women in the commercial real estate industry receive a whopping 55.6% less in commissions and bonuses than their
Creation of the mighty new skyscraper One Vanderbilt started with the almost incidental purchase of an obscure old office building 19 years ago. The project negotiated a treacherous development labyrinth of zoning challenges, a $1 billion lawsuit, activists’ demands to change the design, complex negotiations with the state and city — and a struggle with
As the US still faces the coronavirus pandemic and millions are unemployed, the multifamily industry is “cautious on collections” in the upcoming months as only a “minimal” amount of extra unemployment benefits are planned, according to a report from Yardi Matrix. “Collections have yet to decline a material amount, but if unemployed Americans are left
Mere days after recently re-listing his vibrantly colorful, pop-art-filled waterfront spread in Miami for $24.5 million, American retail fashion tycoon Tommy Hilfiger has also hoisted his European-inspired estate in exclusive Greenwich, Conn. onto the market with a publicity-assuring $47.5 million asking price. The turreted manor house appears transported from a Disney movie set in the French
Doane Kelly, the leader of Savills’ workforce strategy, said that while understandable in the moment, the idea that companies and organizations can be as productive with a mostly remote workforce is a long-term proclamation being made during a period of clouded vision for the future. In a Q&A with Kelly, the expert suggested that business
Landlords of color are finding themselves especially hard hit by the economics of COVID-19, according to a new survey by the Urban Institute in partnership with Avail. Black and Hispanic landlords are more likely to be struggling to pay their mortgages than white landlords, and they are more likely to take a mortgage forbearance, according