(Eurweb.com) *Jay-Z has scrapped plans to build a luxury hotel in his native New York after the venture became mired in litigation, reports the New York Post. The rap mogul and his business partners have reportedly pulled out of the J Hotel project altogether and returned the site to its lenders for $52 million. Jay-Z’s […]
(Crain’s) — New York’s real estate market has seen better days, but it is among the strongest in the country right now and should rise from here, according to a broad range of industry executives at a conference at the New York Public Library on Thursday. “There are very few people who would say the […]
(AJC) — Vacancy is up again in Atlanta’s office market. So why are buildings fetching such a decent price per square foot? Call it the “screwy relationships” that develop at the bottom of real estate markets, said Chris Macke, a senior real estate strategist in Washington with real estate services firm CoStar Group. Even though […]
(Washington Post) — While the commercial office market is in a slump across most of the country, owners of District buildings are finding this year they can command higher rents from tenants. Asking rents at two dozen buildings rose sharply from the third quarter of last year to this year, according to CoStar Group, a real […]
(AJC) — Atlanta is about to get two radio shows on commercial real estate. Michael Bull, president of Atlanta brokerage firm Bull Realty, will launch the Commercial Real Estate Show on Saturday at 10 a.m. on Biz 1190 AM (WAFS). Meanwhile, Gene Kansas, who leads Gene Kansas Commercial Real Estate, will launch Sidewalk Radio on […]
(Crain’s) — New York City’s slumping construction industry is getting a lift building and renovating schools as it struggles to weather the economic downturn. With demand for hotel and condo projects that dominated the industry during the boom years still weak, many construction companies that relied on that work are now jumping into the education […]
(WSJ) — New York continues to lead the U.S. economy when it comes to the growth rate of the private sector, according to an analysis of seasonally adjusted employment data by Eastern Consolidated. As of August, the city had added 78,300 jobs for the year, a growth rate of 2.5%. That compares with a relatively […]
(AJC) — A lot of people followed the story of a few months ago where the Atlanta Public School system would locate the new “Buckhead” high school, which is being built to deal with the expanding school population on the north side of Atlanta. No announcement has yet been made. APS has certain site criteria […]
(NYT) — When Kenny Horowitz, a longtime worker in the fashion industry, decided to start his own business, he took a 10-year lease on a 10,000-square-foot showroom in 10 West 33rd Street, the Fashion Accessories Center. “I was in this building before with another company, Steve Madden, and my partner was in this building with […]
(Crain’s) — The amount of retail space available for rent in New York area community shopping declined in the second quarter of the year as consumer confidence rose, and emboldened retailers to lease up more space. The retail real estate availability rate in what are officially defined as “community and neighborhood centers” in the New York […]
(AJC) — One small office building was completed in metro Atlanta in the second quarter of this year. And it wasn’t even a whole office building. At 6,000 square feet, the project is a graphic illustration of the fierce slowdown in office construction wrought by the Great Recession in Atlanta. A market accustomed to adding […]
(AJC) –At mid-year, Atlanta’s office market is showing some signs of improvement and recent hiring may keep the trend moving in a positive direction. Several real estate firms, including Jones Lang LaSalle, CoStar Group, and Grubb & Ellis, believe Atlanta’s office market has reached its trough and is starting the slow climb back from recessionary […]