Category : Featured

Large deals lift Manhattan office market to strongest quarter this year

REW October 9, 2017 October 9, 2017

by REWOctober 9, 2017October 9, 20171370

Lease deals over 100,000 s/f propelled Manhattan’s office market to its strongest quarter this year. According to Cushman & Wakefield’s latest office market report, leases in Manhattan reached 8.1 million s/f during the third quarter, the highest in the borough so far this year. This was mostly due to eleven...

Featured

More seniors ditching the suburbs for city life

REW October 6, 2017 October 6, 2017

by REWOctober 6, 2017October 6, 20172180

The daily routine of senior citizens may soon morph from bingo and lawn bowling to taking the subway and arguing with the guy at the deli. According to Welltower’s 2017 Aging in Cities report, most city residents want to still be in a metropolitan area when they get to the...

Debt & Equity Featured

Got Bitcoin? Cryptocurrency goes mainstream with real estate buyers

REW October 4, 2017 October 4, 2017

by REWOctober 4, 2017October 4, 20171519

The cryptocurrency Bitcoin, which has been associated with online drug marketplaces and ransomware attacks, is slowly gaining backing from the real estate industry. Bitcoin is a digital currency that people use to buy good and services. It is somewhat similar to Paypal. The only difference is it’s decentralized, meaning that...

Deals & Dealmakers Featured

Report: Olayan’s Sony Building acquisition tops resale deal list from past 5 years

REW October 3, 2017 October 3, 2017

by REWOctober 3, 2017October 3, 20172083

The Chetrit Group netted the biggest short-term resale gain in the city during the past five years when it sold 550 Madison Avenue, the former Sony Building, to the Saudi Arabia-based Olayan Group in 2016 for $1.4 billion. Sony sold the building, which is situated between 55th and 56th streets...

Deals & Dealmakers Featured

Jeff Gural steps down as NKF chairman

REW October 3, 2017 October 3, 2017

by REWOctober 3, 2017October 3, 20172155

Newmark Knight Frank chairman Jeff Gural is stepping down. Gural, who will continue on as NKFʼs chairman emeritus, has left his post as the firm prepares for an IPO. The industry veteran said Monday he will put his focus on the Gural family business, Newmark Holdings, which is changing its...

Featured Residential

Health and wellness are the newest luxury amenity du jour

REW September 29, 2017 September 29, 2017

by REWSeptember 29, 2017September 29, 20171445

As residential developers continue to one-up each other with over-the-top amenities, a sharp focus on mental health and wellness has emerged as one of the most popular and ubiquitous additions. It seems that more than ever, people are putting their health first. At One Hudson Yards, where there is a...

Construction & Design Featured

City Council approves controversial construction safety bill

REW September 27, 2017 September 27, 2017

by REWSeptember 27, 2017September 27, 20171440

The New York City Council has unanimously approved a bill that would mandate at least 40 hours of training for construction workers across the city. Intro. 1447, which was crafted as a reaction to a spate of construction worker deaths, was passed with a vote of 42-0. The final version...

Featured Green Building

NYC real estate lobby meets with United Nations agency over sustainability

REW September 27, 2017 September 27, 2017

by REWSeptember 27, 2017September 27, 20171703

The New York City real estate industry’s biggest lobbyist recently met with members of a group that is part of the world’s biggest intergovernmental organization with one big topic in mind: sustainability. In construction and real estate nationwide, sustainability has become a high priority, especially in the wake of a...

Deals & Dealmakers Featured

Garment District adds 6,000 jobs in spite of manufacturing decline

REW September 27, 2017 September 27, 2017

by REWSeptember 27, 2017September 27, 20171519

The Garment District is going the way of the Meatpacking District, as the industry that gave the neighborhood its name continues to decline, while other retail, office, and residential sectors continue to increase. According to the just-released Economic Quarterly Report form the Garment District Alliance, the Garment District has experienced...

Featured

Why Hispanics are thriving in a declining US home sales market

REW September 22, 2017 September 22, 2017

by REWSeptember 22, 2017September 22, 20171688

In a country souring on homeownership, Hispanics are thriving, claiming an expanding share of American residential properties. According to the Hispanic Wealth Project’s State of Hispanic Homeownership report, 7,301,000 Latino households owned their homes in 2016. This represents the highest since the beginning of the century. It also shows a steady and...