News/Events
Brooklyn’s Former Hotel Bossert Set to Become Ritz-Carlton Luxury Residences
The historic former Hotel Bossert in Brooklyn Heights — once home to the victory party for the Brooklyn Dodgers’ lone World Series win — will now become Ritz-Carlton-branded luxury condos under new ownership. Developer SomeraRoad, which acquired the 14-story, 282-key hotel at 98 Montague Street for $100 million in May 2025, announced Tuesday alongside Marriott…
Starwood Capital Group Hires Blackstone’s Michael Eglit as U.S. Head of Originations
Fall is almost here and a slight chill — plus the scent of freshly sharpened pencils — is in the air. For Starwood Capital Group, there’s also a new leader at the helm of its debt business as the firm gears up for the fourth quarter. Starwood Capital has hired Michael Eglit as its new…
Market Shifts, New York’s Uniqueness Mean Mamdani’s Grocery Plan Could Work
New York Mayor Zohran Mamdani wants to get the city into the subsidized grocery business. As his administration seeks a seasoned partner this fall to run its planned quintet of government-supported grocery stores, strong opposition means it won’t sail through the express checkout lane. Plus, a pair of new lawsuits could stop the scheme faster…
CMBS Loan Backed by Hyatt Regency in Jersey City Sent to Special Servicing
A $100 million commercial mortgage-backed securities (CMBS) loan secured by a 351-key waterfront Hyatt Regency hotel in Jersey City, N.J., has been sent to special servicing due to an imminent maturity default, according to an alert from Morningstar Credit Analytics. The $100 million loan — which makes up portions of the CGCMT 2016-P5, CGCMT 2016-P6,…
Stockdale Capital Partners Aims for $300M in Loans by 2028 Via New Credit Platform
Stockdale Capital Partners, a vertically integrated, Los Angeles-based real estate investment firm, has launched a real estate credit platform that aims to make $300 million worth of loans in the next 12 months. The new credit platform will specialize in deploying capital as senior bridge loans, mezzanine debt, special situation investments and even note purchases…
Property Operations Platform Visitt Teams With VendorPM
Visitt, an artificial intelligence-native property operations platform, and VendorPM, a leading vendor life cycle management company, announced Tuesday a partnership to create what they describe as a more unified approach to managing buildings and vendors. By bringing together VendorPM’s life cycle management capabilities with the day-to-day operational workflows in Visitt, the partnership aims to provide…
New York City Selects It’s Electric to Install Curbside EV Charging Ports
It’s Electric, a national leader in curbside electric vehicle (EV) charging, announced Tuesday that New York City has awarded it an exclusive contract to install and build out a permanent EV charging network across all five boroughs. Based in Brooklyn, It’s Electric will replace the city’s current pilot infrastructure and install hundreds of new curbside…
Power California 2026
This year’s Power California illustrates the new map of the Golden State. Los Angeles has always been good at reinventing itself, but some of the industries and asset classes that, as recently as a few years ago, seemed inseparable from the region are trading places. Hollywood is consuming itself, for one. Christopher Nolan’s “The Odyssey”…
Billion-Dollar Blockbusters Won’t Revive L.A.’s Film Industry
Hollywood, or at least some aspect of it, had a summer. Between massive box office performances from “The Odyssey” (partially shot in Los Angeles), “Spider-Man: Brand New Day” and “Obsession,” the industry appears to have recaptured some of its cultural magnetism and moneymaking ways. Adjusted for inflation, the movie industry’s $4.76 billion summer ticket haul…
