Amid the work-from-home revolution, office landlords are now resorting to a drastic measure in the real estate world: “handing back the keys.” This involves the landlord ceasing to pay the mortgage on the office building or declining to refinance it, leading the bank or investors who made the loan to repossess the building. Notable names …
Bob Knakal, the reigning king of New York City’s commercial real estate market, has sold his luxurious Park Avenue residence. The spacious condo, located at 737 Park Ave. and priced at $13.45 million, has recently gone into contract, just one month after a change in brokers. Despite being on the market since September, the asking …
Experience the awe-inspiring journey of the new church-and-office building on Billionaires’ Row, a true gift from heaven. After overcoming challenging setbacks, the “boutique” tower at 125 W. 57th St. is now soaring towards its 440-foot, 26-story height. This remarkable project, brought to life by Ken Horn’s and Brian Ray’s Alchemy-ABR Investment Partners in partnership with …
Prepare for the impeding collapse of the commercial real estate market as investors indicate that sky-high interest rates and declining property values are major factors contributing to this downturn, according to a survey. About two-thirds of respondents to a Bloomberg News survey expressed their belief that the commercial real estate market will rebound only after …
The retail leasing scene, excluding restaurants, is a complex one that defies easy generalizations, making it difficult to analyze. Brokers and analysts often find themselves frustrated with retail data from brokerages and the Real Estate Board of New York due to these challenges. While we acknowledge the effort that goes into their research, the problem …
There is a greater number of employees working in New York City offices than commonly believed. According to a survey released by the Partnership for New York City, 58% of Manhattan office workers are present on an average weekday, an increase from 52% in late January 2023 and 49% in September 2022. These figures differ …
New York City is about to shine even brighter with the arrival of world-renowned artist Bruce Munro and his extraordinary public art installation, “Field of Light at Freedom Plaza.” Munro, famous for his captivating light-based artworks, will transform Manhattan’s East Side into a luminous wonderland, courtesy of the Soloviev Foundation. Get ready to be amazed …
In a high-stakes showdown between co-working giant WeWork and powerhouse landlord DivcoWest, the battle for millions unfolds on the streets of Manhattan. As WeWork teeters on the brink of bankruptcy, DivcoWest has filed a lawsuit demanding a whopping $30 million, according to The Real Deal. This legal dispute could leave the co-working juggernaut reeling. The …
Delmonico’s, America’s first restaurant, has triumphantly emerged from the shadows of the pandemic with a fresh lease on life. The historic steakhouse, located in the Financial District, recently reopened its doors after a dark period of closure. Initially shuttered due to COVID-19, the restaurant faced additional challenges in the form of rent disputes and ownership …
Experience the essence of sophistication and indulgence as these refined and considerate courtesans extend a generous offer to our esteemed friends from the Beehive State. Bella’s Hacienda Ranch, a distinguished and legally operated brothel situated in Wells, Nevada, is thrilled to announce an exclusive discount of 10% on all sensuous services for residents of neighboring …