News/Events
Mann Group Buys Luxury Apartments at 130 Hope Street in Williamsburg
Clipper Equity’s hopes have been realized in the sale of a luxury rental building at 130 Hope Street in Williamsburg, Brooklyn, Commercial Observer has learned. Clipper sold the 150-unit building — which it completed in 2023 and dubbed Casa Hope — to New York City-based investor and developer the Mann Group for $122.5 million, according…
New York-Based Henry AI Has a New End-to-End Deal-Making Portal
In a world increasingly dominated by artificial intelligence, some platforms are busy gaining steam despite catering to one of the pickiest market segments. In June, Henry AI — an AI platform founded by Sammy Greenwall and Adam Pratt that automates back-office work for commercial real estate brokerages — sealed a $16.5 million Series A funding…
CRE CLO Distress Accelerates in August
The commercial real estate collateralized loan obligation (CRE CLO) distress rate jumped from 19 percent in July to 28 percent in August, the sharpest one-month move of any deal type this year, according to CRED iQ data. The single-asset, single-borrower (SASB) commercial mortgage-backed securities distress rate has held near 22 percent since June. Both numbers…
Office-Leasing Bidding Wars in Manhattan Are Now a Thing
Apartment-hunting New Yorkers are all too familiar with the dreaded bidding war. Now Manhattan’s corporate world has entered the fray. High-quality built office space in desirable submarkets is on the decline throughout the borough after several quarters of feverish demand and scarcely any new supply. Manhattan’s artificial intelligence-fueled tech boom has only added fuel to…
Office’s Real Story Is the Spread Between Prime Space and Everything Else
The office market is recovering. The data no longer leaves much room to argue otherwise. Net absorption nationally reached 12.6 million square feet in the second quarter, nearly double the prior quarter and the ninth consecutive quarter of positive demand, according to CBRE. Leasing activity rose 16 percent year-over-year and is on pace to surpass…
For Manhattan Class B Office, the Days of Optional Amenities Are Past
After several years of Class A Manhattan office product benefiting from ever-increasing levels of demand, the heat in the sector is beginning to shift downward. Companies in search of well-kept space at less-than-trophy rents are seeking more Class B office space than before while Class A is experiencing a slight downshift in desirability — and…
A Wave of New York Office Tower Listings Tests the Market’s Recovery
In a two-week period this July, Commercial Observer reported on three Midtown office towers hitting the market. First came BXP’s ground lease at 7 Times Square, asking north of $700 million for its slice of the 1.2 million-square-foot tower. Just three days later, two separate office towers made headlines of their own: Empire State Realty…
After 5 Years Of Gains, Commercial Real Estate's C-Suites Just Got Less Diverse
For the first time since Bisnow began tracking C-suite diversity in 2020, the industry got less diverse — not more. "People are leaving," one advocate says.
Summer Broke The Script. Here's What CRE Is Walking Back Into
From the threat of interest rates to new legislation, here is what CRE is wading through as it comes into the busy fall and winter deal season.
