News/Events
The South Florida Real Estate Market Leans Evermore on the Wealthy
The South Florida market remains strong as wealthy Northerners continue to relocate down south, even as the rest of the country faces headwinds due to rising interest rates, speakers agreed at Commercial Observer’s South Florida Capital & Development Forum, held Oct. 15 at Don Peebles’ Bath Club in Miami Beach. “Were selling unaffordable apartments,” said…
A Third of Maturing Multifamily Debt Needs Cash Infusion to Refinance
After September’s rate hike, $6.8 billion of fresh equity stands between maturing multifamily loans and a refinance. Loans written at 2021 and 2022’s low coupons are the hardest hit. 20 Exchange Place, a 54-story, 767-unit apartment tower near Wall Street that was built in 1929, was 94 percent occupied in the second quarter, and its…
Stimdel Properties Files Plans to Build 612 Apartments in Astoria
Stimdel Properties, an affiliate of Uruguay-based investment firm HC Corporation, has filed plans to bring 612 new apartments to 12-12 33rd Avenue in Astoria, Queens, according to a rezoning application filed with New York City’s Department of City Planning last week. The plans, filed by Stimdel, call for the construction of five mixed-use buildings, ranging…
Southern California Retail Markets Tighten as Tenant Demand Picks Up
Southern California’s retail real estate market continued to tighten in the third quarter of 2026, with positive net absorption and declining vacancy across much of the region, according to a new report released Monday from Colliers. Retail tenants absorbed about 757,600 square feet during the quarter across Los Angeles and Orange counties and the Inland…
Invesco Sells Publix-Anchored Property for $90M After Nearly 35 Years
Invesco has unloaded a Publix-anchored shopping center in Boca Raton, Fla., for $90.3 million, after nearly 35 years of ownership, property records show. Urban Edge Properties purchased the asset called Woodfield Plaza, a 142,893-square-foot property at 3003 West Yamato Road, near the intersection with Jog Road and about a mile from Woodfield Country Club. Along…
Data Software Firm Databricks Doubles Down With 120K SF at 5 Bryant Park
Data software company Databricks has doubled its office footprint at 5 Bryant Park less than a year after its arrival. The company inked the major lease expansion to accommodate the expanding headcount of its New York City-based research, development and engineering hub, according to a Databricks blog post on Monday. Its doubled office space now…
Charlotte Cafe Opening Fourth Manhattan Shop at Chelsea’s 219 Ninth Avenue
A cafe chain and catering service is opening a fourth Manhattan location in Chelsea, Commercial Observer has learned. The European-inspired Charlotte Cafe has signed a 10-year, 1,500-square-foot lease with landlord Willen Feygin at 219 Ninth Avenue, where it will take over a space vacated by a bank, according to broker Meridian Capital Group. Asking rent…
Eagle AI Takes 7K-SF Office at 120 Fifth Avenue in Flatiron District
The eagle has landed at Bromley Companies’ Flatiron District office property. Eagle AI, an artificial intelligence-based solutions provider, has taken 6,500 square feet of office space at 120 Fifth Avenue, according to the landlord. The deal, signed in September, is for an entire floor. Bromley did not provide the length of the lease or the…
Susan Ahlheit Promoted to Chief Operating Officer at TSCG as Bob Wordes Retires
As Bob Wordes plans his retirement from TSCG, also known as The Shopping Center Group, the firm is elevating two of its longtime executives. Susan Ahlheit will take over Wordes’s role as chief operating officer in a promotion from executive managing director of operations, while David Huntley will serve as chief financial officer after already…
