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Manhattan retail rents are falling and it's not a good sign
Net effective retail rents in Manhattan have fallen 20 to 30 percent from their 2014 peak, according to a report from brokerage CBRE.The estimate accounts for concessions, which have been on the rise...
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Chinese home buyers are starting to invest in smaller cities
Chinese home buyers are looking beyond major centers like Shanghai and Beijing as places to invest, which may dampen the government’s attempt to curtail spiraling home prices.Chinese officials have...
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Blackstone reclaims the crown as the world’s biggest real estate manager
Blackstone is once again the world’s largest real estate manager after overtaking Brookfield Property Partners last year.Blackstone’s real estate assets grew 6 percent in 2016 to $160 billion, the...
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Empty storefronts litter the World Trade Center mall one year after its grand...
Over the Memorial Day weekend, the World Trade Center mall buzzed with tourists who crowded its stairs and peered up from the floor of the main hall to gaze upon Santiago Calatrava’s marble Oculus.But...
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New York City's rent stabilization board meets on Tuesday — here's what to...
The city’s Rent Stabilization Guidelines Board is poised to take a final vote Tuesday on whether or not to increase rents by at least 1 percent.The board is likely to favor an increase given its...
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Foreclosures at one of the most expensive buildings in New York are an...
In hindsight, the unpaid common charges were a red flag.In December, the condo board at One57, the ultra-luxury skyscraper on Billionaires' Row, slapped the owner of a $50.9 million unit with a $64,331...
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Here's how Trump transferred wealth to his son while avoiding the usual taxes
This story was co-published with The Real Deal.In April 2016, as Donald Trump was on the cusp of clinching the Republican nomination for the White House, he sold two luxury condos near Manhattan’s...
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Millennials aren't the only generation choosing to live with roommates
The bedroom that Andrew Kim shares with his girlfriend, Michelle, and their pug, Emilio, there is a 60-inch TV mounted on the wall, a vanity for Michelle and an automatic feeder for the pup. “It’s a...
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Inside the skyscraper that would be the most expensive residential building...
On the 100th floor of the most expensive residential building ever planned in New York City, 126 captains of the universe can waltz in the grand ballroom and gaze down upon Central Park.The amenity is...
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A co-living startup is hiring former employees of the 'elite' millennials...
Co-living company Ollie hired five former employees of Magnises, the black-card startup founded by Fyre Fest mastermind and accused fraudster Billy McFarland.Ollie's co-founder Chris Bledsoe was...
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New York's crackdown on illegal Airbnb listings has had the opposite effect...
Active Airbnb listings are up slightly since City Hall started handing out fines in February for illegal listings. And areas like Harlem and Bushwick, where affordable housing is in short supply, are...
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The new most expensive home in America is this $350 million mansion once...
The home of late Univision chairman Jerrold Perenchio has hit the market for $350 million.The Sumner Spaulding-designed estate, which is known as "Chartwell," comprises more than 10 acres in Bel Air...
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The world's most expensive housing market just got even more expensive
It’s already the world’s most expensive housing market. And it just keeps getting more expensive.In the second quarter, the proportion of income spent on mortgages in Hong Kong—a measure known as the...
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New York's housing crisis is hitting low-income families the hardest
New York’s rising housing costs are hitting the poorest families the hardest, according to a new StreetEasy study.Median rents increased 3.9 percent since 2010 but median wages only rose 1.8 percent,...
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Hong Kong is becoming too expensive for bankers
Is this a sign that we’re all doomed? Hong Kong’s housing market has gotten so expensive that even bankers can’t find a decent place to lay their heads for a reasonable sum.Baby bankers in Hong Kong’s...
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Here are the most expensive office markets in the world
Hong Kong is still the world’s most expensive prime office market by a margin, but the Big Apple is sniffing at the top three.Midtown Manhattan came in fourth in CBRE’s ranking of the world’s most...
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Neiman Marcus is downsizing its flagship store at NYC's Hudson Yards
Neiman Marcus is downsizing its soon-to-be flagship store in Related Companies’ massive Hudson Yards complex.The Dallas-based luxury retailer, which signed a deal to anchor Related’s 1...
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Here's why nearly 25% of Manhattan rental applicants get rejected
Manhattan is one of the hardest places to get an apartment — no surprises there — but the borough has hit a new level of unattainable with this recent statistic: Manhattan has the seventh highest...
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WeWork competitors form an alliance to take on the shared workspace market
Flexible office startups Knotel and Grind formed an alliance as they try to take on WeWork, the companies announced Thursday.From now on the co-working company Grind will refer larger firms and members...
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A bunch of new office space is going to flood New York City by the end of the...
According to this week’s market reports, 5.2 million square feet of office space are scheduled for completion in the last remaining months of 2017 in Brooklyn and Manhattan, and 5.6 percent of home...
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