Discount and higher-end retailers have reported stronger sales from consumers who are hunting for the best deals and long-lasting items.
NBA superstar Giannis Antetokounmpo is taking his talents to New York — but not quite to Madison Square Garden. The Milwaukee Bucks forward purchased an eight-story, 28-unit apartment property in Brooklyn’s Prospect Lefferts Gardens for $14.1 million, Bisnow reported. The deal for the property at 111 Clarkson Avenue breaks down to $504,000 per unit. The sellers were developers Seth Brown and Richard Ludwig. The Lawrence is a fully rent-regulated property, providing “The Greek Freak” with his biggest challenge since delivering a championship to the Bucks five years ago. The building was developed in 2018 under the 421a tax abatement program. […]
This article originally appeared on The Real Deal. Click here to read the full story.
Discount and higher-end retailers have reported stronger sales from consumers who are hunting for the best deals and long-lasting items.
As the opening of JPMorgan Chase’s gleaming glass-and-steel skyscraper drew near, some Midtown office landlords and brokers were quietly bracing for a shake-up. The 2.5 million-square-foot Foster + Partners-designed tower at 270 Park Avenue is designed to accommodate roughly 10,000 of JPMorgan’s 24,000 New York employees. Across the street is another building the bank owns, paving the way for what some have described as a JPMorgan-centric neighborhood. When CEO Jamie Dimon cut the ribbon in October on the bank’s new multibillion-dollar headquarters, it marked the start of a major migration from the company’s other Midtown offices. The financial powerhouse has […]
This article originally appeared on The Real Deal. Click here to read the full story.
The city has tapped Slate Property Group, Xenolith Partners and nonprofit Comunilife to build more than 600 affordable housing units in northern Manhattan. The team submitted the winning bid to develop 4095 Ninth Avenue, a long-vacant, city-owned site along the Harlem River in Inwood, the Department of Housing Preservation and Development announced Wednesday. The project, dubbed La Ostra, is expected to include approximately 625 units, of which 224 will be for senior residents. The other 401 will be subject to HPD’s Extremely Low & Low-Income Affordability program, which calls for most units to be affordable to those earning, at most, […]
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See how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.
A trio of investors snapped up the InterContinental New York Times Square in another nine-figure bet on New York’s luxury hotel market. Highgate, Gencom and Argent Ventures closed on a deal to buy the 36-story, 607-room property for roughly $230 million from a joint venture between Tishman Realty and Metlife Investment Management, The Real Deal has learned. Monroe Capital provided a $190 million loan for the purchase. Eastdil Secured advised the seller and arranged the debt. The sale marks another large-scale hospitality trade in a market finding its footing after years of uneven recovery. Tourism has roared back and revenues […]
This article originally appeared on The Real Deal. Click here to read the full story.
The forecasts will offer a glimpse of the path for policy at a highly uncertain moment for economy — and the central bank.
The end of Jerome Powell’s term as Fed chair will give President Trump his biggest opportunity yet to reshape the central bank.