Sunnyside Yard project by the numbers
Real estate insiders like to cite the well-known axiom about the value of land: “They’re not making any more of it.” But that’s essentially what the de Blasio administration and Amtrak aim to do in western…
Proptech and the pandemic: Will coronavirus change how real estate works?
Proptech pioneers have long sought to disrupt the real estate industry with new ways of doing business. Will the coronavirus pandemic speed up that evolution, or be just a blip on the radar? As real estate…
Catch Hospitality Group laid off nearly 770 last month
Catch Hospitality Group has laid off 767 people from its stable of New York City restaurants. Over 356 workers at Catch NYC lost their jobs, while 330 additional employees were laid off at Catch Steak. The…
City clears another 300 construction sites for “emergency” work
The number of emergency construction sites exempt from the state’s shutdown of non-essential work has jumped by more than 300 since last week. According to a real-time map created by the Department of Buildings, “emergency work”…
Coronavirus Layoffs: Shake Shack, Primark Latest To Shed Jobs Amid Pandemic
The national crisis, spurred by the spread of coronavirus, has impacted nearly every industry. …
Related’s Blau on tenants with cash: “It’s their obligation to pay”
With a $97 billion real estate portfolio, Related Companies faced a reckoning this month. But after bracing for a major loss of rental income, Related CEO Jeff Blau said “the results have been pretty good so…
Home Buying And Selling In The Time Of Coronavirus
If you’re buying or selling a home this spring, the COVID-19 economic uncertainty may or may not derail your plans. …
Rental insurance startup Jetty lays off 40% of staff
Jetty, a Silicon Valley-backed rental-insurance startup, has laid off 40 percent of its workforce, The Real Deal has learned. The New York-based company cut more than 30 jobs as it looks to shore up its balance…
Brokers must wait to tap SBA forgivable loan lifeline
The majority of real estate brokers seeking help from the federal government’s paycheck lifeline program will have to wait until Friday to do so. The Small Business Administration’s $350 billion Paycheck Protection Program, which offers forgivable…
Former Lakers big man Tarik Black tests the market in Hollywood Hills
After two years in Hollywood Hills, former Laker Tarik Black has put his three-story home on the market for $2.195 million. …
SoFla prepares for flood of foreclosures and evictions after governor’s freeze
With hundreds of Floridians losing their jobs on a daily basis and the economy on crutches, Florida Gov. Ron DeSantis suspended evictions and foreclosures for a period of 45 days. But experts say it is far…
Cuomo extends non-essential work ban to April 29
Gov. Andrew Cuomo on Monday extended his statewide ban on going to non-essential workplaces through April 29. During a press conference in Albany, the governor said his March 22 order, which forced non-essential businesses to halt…
Manhattan office developer launches $200M fund
Manhattan office developer KPG Funds is trying to put its money where its mouth is. The owner and operator, formerly known as K Property Group, is raising a $200 million fund, according to paperwork filed March…
Tonight on TRD Talks: Big brokers on the new rules in residential real estate
In our first TRD Talks Live episode, brokerage chiefs came together to discuss running their businesses during unprecedented circumstances. Tonight, we’ll hear from the folks who make the deals happen: the agents. At 5 p.m., TRD…
Kushner Cos. pushes ahead with eviction lawsuits: report
Kushner Companies is continuing to file eviction and debt collection lawsuits during the coronavirus crisis. At least 15 New Jersey and Maryland tenants have received lawsuits from properties owned by Kushner Cos. since both states declared…
Brooklyn’s luxury resi market only saw 2 deals signed last week
Activity was moribund once again in Brooklyn’s luxury residential market, as real estate continues to grapple with the unprecedented fallout of the coronavirus pandemic. The borough saw just two luxury contracts signed last week, both for…
Vornado inks another $52M closing at 220 Central Park South
The global pandemic that continues to slam markets hasn’t stopped closings at Vornado Realty Trust’s ultra-luxury 220 Central Park South. Another eye-popping sale has closed at the Billionaire’s Row tower, this time for almost $52.3 million,…
Silverstein’s Marty Burger recovers from coronavirus
Silverstein Properties CEO Marty Burger tested positive for coronavirus last month. Burger said his symptoms showed up soon after his annual ski trip to Park City, Utah in early March, which some of the biggest names…
Real estate and retail shutdowns driving Tri-State slump
The economic slowdown that is throttling the U.S. has seen economic output drop by three-quarters in some industries, including food services and arts and entertainment. In the tri-state area of New York, New Jersey and Connecticut,…
Pair of Bronx multifamily buildings leads New York’s mid-market investment deals DEK:
There were three deals in New York’s mid-level investment sales market this week, including a pair of rent-stabilized buildings in the Bronx and a pair of mixed-use buildings in Manhattan. Here are the details: 1. Prana…
