Search

The article discusses the condominium and apartment market in Manhattan, New York, and states that builders were constructing several high-priced condominiums in towers across the city. According to the article, the average price of newly developed condominiums was expected to be over $7.2 million in 2017. The article also discusses the increased price of land in Manhattan and states that the southern tip of Central Park contained a concentration of new developments. The article presents comments from appraisal firm Miller Samuel president Jonathan Miller.

The article discusses real-estate development in the U.S. by foreign firms. Among projects cited are funding by Japanese developer Mitsui Fudosan Co. of an office tower in the Manhattan section of New York City, and a proposed office tower in San Francisco, California by Chinese developer Oceanwide Real Estate Group Co. Low returns on established commercial buildings are among reasons why foreign firms have shown a preference for developing new properties rather than buying existing ones.

The article reports that the Chinese property development company Greenland Holdings Group has signed a memorandum of understanding to purchase a majority stake in an apartment project in Brooklyn, New York as of October 2013. Topics include the Barclays Center arena in the neighborhood, the comments of the Greenland executive Zhang Yuliang, and international construction initiatives involving Chinese companies.

The article discusses a reduction in commercial space being occupied by large banks in New York City. International Strategy & Investment Group Inc. estimates the city's ten largest banks occupied six million fewer square feet in early 2012 than they did in 2008. Tepid demand for loans and a weak U.S. economy have prompted some banks including Bank of America Corp. and J. P. Morgan Chase & Co. to reduce their presence in New York City.

The article reports that exchange operator CME Group Inc. may decide to sell buildings it owns in New York City and Kansas City, Missouri that house the firm's energy- and grain-trading operations. A possible sale is said to reflect the ongoing transition to electronic markets away from open floor trading for futures. It is noted that either building could prove attractive to investors.

The article looks at the possible purchase of a significant minority stake in the General Motors building in New York City by a group of Chinese investors headed by Chinese office real-estate development company Soho China Ltd. It says that as of March 2013, the volume of Chinese investment in U.S. real estate has been limited. Soho China's chief executive officer (CEO) Zhang Xin is discussed.

The article examines the economic aspects of advertising on the One Times Square building's digital billboards in New York City. Topics include how more than one billion viewers see the billboards on the New Year's Eve television broadcast, how advertising rates for the signs have doubled since 2000, and how New York City landlords are expanding their signs to earn more money.

The article reports that pension fund TIAA-CREF will pay property developer Forest City Ratner Cos. about $250 million for a 49% stake in New York by Gehry, a 76-story apartment building in the Manhattan section of New York City. The deal is said to reflect strong investor demand for luxury residential properties.

The article discusses small real-estate investors whose purchases of commercial property in the aftermath of the 2008-2009 global financial crisis are shaping up as solid investments. An office tower in the Manhattan section of New York City that George Comfort & Sons Inc. bought in 2009 for $600 million is expected to sell for over $1 billion in 2012. Other savvy investors include TMG Partners and Pacific Urban Residential.

The article discusses difficulties experienced by developer Silverstein Properties Inc. in attracting tenants to new office towers being constructed in New York City at the site of the September 11, 2001 terrorist attacks. By contractual arrangement Silverstein has had to suspend construction on one tower because no tenants have signed on. Two other towers under construction are 51% and 55% leased, respectively, while plans for a fourth have been set aside at least temporarily.

The article focuses on the effect the 2012 real estate slump is having on the commercial real estate market. It mentions that the skyscraper at 11 Times Square in New York City, which is run by financial company Prudential Financial Inc. and developer SJP Properties, is around 60 percent empty and unleased. It comments on fierce competition new commercial real estate funds face from financial firms who are subleasing hundreds of thousands of square feet of office space while they downsize.

The article reports that volatile and uncertain economic and market conditions have diminished activity in the U.S. market for commercial real estate. Sales and leases of existing commercial space have suffered. Designer Tommy Hilfiger abandoned plans to convert a tower in New York City into a hotel and luxury condominiums. Several firms including banking company Morgan Stanley have postponed plans to acquire new office space.

The article reports that the owners of some prominent office buildings in the U.S. have put their properties up for sale. Investor demand for buildings has been strong amid a climate of low bond yields and a volatile stock market. The Seagram Building in New York City and the Willis Tower in Chicago , Illinois are among properties available.

The article discusses real-estate developer Jared Kushner's $1.8 billion purchase of a New York City skyscraper in 2007. Revenues from the building have not been sufficient to service its $1.22 billion mortgage, and Kusher is in negotiations with creditors including private-equity firms Colony Capital LLC and Starwood Capital Group for debt relief. Kushner is the son-in-law of real-estate mogul Donald Trump.

The article discusses the difficulty posed by rising rates on municipal bonds to developer Larry Silverstein of Silverstein Properties and the Port Authority of New York and New Jersey. Both parties postponed a $1.37 billion issuance of bonds aimed at financing continued construction of a skyscraper at the World Trade Center in New York City.

The article reports that a deal with developer Larry Silverstein was closed by the Port Authority of New York and New Jersey, which will see the former finishing new office towers at the World Trade Center site.

The article reports that commercial real estate development companies in New York City are investing in new office construction despite a weak demand for office space in November of 2014.

The article presents news briefs as of September 10, 2014 on topics including the sale of prime land in California by the financial services firm Lehman Brothers Holdings, the building of a seven star hotel in New York City by Vornado Realty Trust, and the expansion of discount retailers such as Stein Mart, Ross Stores, and TJX.

The article discusses delays to the public works project for a train station at the site of the former World Trade Center in New York City. Topics include how the project is over budget, purported complexities of the station's design by Spanish architect Santiago Calatrava, and disputes within the Port Authority of New York and New Jersey, and New York's subway operator, the Metropolitan Transportation Authority.

The article presents real estate news briefs as of February 19, 2014, stating the Standard Hotel in New York City was purchased by its management company Standard International, financial company Lehman Brothers Holdings sold its shares of apartment building company Archstone, and plans for a new state Senate office building in Minnesota are being called an unnecessary expense.

The article focuses on office space rent in New York City by midsize financial firms, stating that big banks have reduced the amount of office space as a result of shareholder pressure to simplify and financial regulations, and comments on the growth of spin-off companies and expanding small banks.

The article notes setbacks in the real-estate-investment career of developer Ian Bruce Eichner, and reports that he is in talks to acquire a building and associated air rights in New York City, with the intention of constructing an 800-foot-tall condominium tower.

The article briefly discusses bids for an office building on Madison Avenue in New York City, wealth-management firm Fleming Family & Partners' investments in Russian real estate, and a $115 million private stock offering by mortgage bank Stonegate Mortgage Corp.

The article briefly discusses a planned investment by real-estate investment trust Altisource Residential Corp. in residential-mortgage loans, the refinancing of an office building in New York City by its owners including George Comfort & Sons and RCG Longview Equity Fund LP, and a real-estate fund started by private-equity firm Rockpoint Group LLC.

The article discusses the business strategy of Scott Rechler, chief executive of real estate company RXR Realty LLC, who has acquired property in the Midtown section of New York City in hopes that the area will become a desirable location for offices once economic conditions improve.

This article discusses the development of skinny luxury apartment skyscrapers in crowded cities such as New York City, Tel Aviv, Israel, and Vancouver, British Columbia. Topics include the construction of the 432 Park Avenue building, the One57 building, and the One Madison Park building in New York City, the building materials and structural design elements used to build the skyscrapers, and global real estate property listings for apartments located in 3 of the skinny skyscraper towers.

The article looks at the Hudson Yards real estate development project on the west side of the borough of Manhattan, New York City, planned by real estate development firm Related Cos., citing the groundbreaking for the first office tower scheduled for November 2012.

The article discusses how New York City Mayor Michael Bloomberg has used rezoning to encourage the development of modern office buildings and provide housing for the city's growing population.

The article discusses plans by property-development company Hines and the asset-management arm of banking company J. P. Morgan Chase & Co. to build an office tower in the Manhattan section of New York City without first arranging for tenants, and notes similar speculative property investments in Chicago, Illinois and San Francisco, California.

The article discusses various criteria used to judge how tall a building is, with particular attention paid to whether One World Trade Center in New York City will be considered the tallest building in the U.S. if plans to construct an enclosing structure for the antenna on its roof are scrapped.

The article discusses controversy over plans by the owners of the One World Trade Center skyscraper in the Manhattan section of New York City to eliminate an ornamental white shell meant to enclose an antenna on the roof, a design change that could threaten the building's status as the tallest in the U.S.

The article reports that sales of commercial property in the Manhattan section of New York City declined during the first quarter of 2012, a development said to reflect uncertainty about the health of New York's financial-services businesses.

The article presents property-related news briefs on several topics including the impact of wind gusts on construction of New York City's One World Trade Center, the purchase of the University Hotel Minneapolis by hotel-operator RockBridge Partners, and a merger involving real-estate-financing firms Enterprise Community Investment Inc. and Bellwether Real Estate Capital.

The article briefly discusses the sale of stakes in New York City office buildings by charitable organization the Irene Diamond Fund, and reports that banking company Morgan Stanley is planning to create a U.S. real-estate fund, for which it hopes to raise $1 billion.

The article reports that the estimated cost of building the One World Trade Center skyscraper in New York City has risen to $3.8 billion, and discusses why the project will be the most expensive office tower ever built.

The article discusses the impact on New York City's financial district of Hurricane Sandy. Almost two weeks after the storm many stores, office buildings, and restaurants remain vacant. Many companies including financial firm CItigroup Inc. and law firm Stroock & Stroock & Lavan LLP have relocated workers to temporary quarters. Environmental issues could delay cleanup efforts and add to their costs.

News briefs on commercial real estate finance and real estate development are presented including the purchase of office buildings in Hong Kong, China by banking industry firm Citigroup Inc., the sale of an office building in the Times Square neighborhood of Manhattan, New York City and the purchase by Thayer Lodging Group and Provenance Motals of a hotel in Seattle, Washington state.

The article presents a pair of blog posts from the publication's WSJ.com Web site, one on the cost of renovating the Novotel New York Times Square Hotel in New York City's Times Square, and the other about office-building construction projects by developer Hines in San DIego, California.