OpenAI may need to find new sources of capital to fund its aggressive data center spending. And the clock is ticking.
Brooklyn’s luxury market managed to dodge for a surprisingly strong holiday week. The borough saw 19 contracts — 10 for condos, one co-op and eight townhouses —between Nov. 24 to Nov. 30 for a total contract volume of $56 million, according to Compass’ weekly report of contracts for homes asking at least $2 million. Last year, Thanksgiving week saw 11 contracts signed in the borough for $38 million. In 2023, just seven luxury contracts were signed during the holiday week. The median asking price for homes that entered contract was $2.8 million and homes spent an average of 102 days […]
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As the end of the year approaches, Jersey City’s residential construction boom shows no signs of a holiday break. Lions Group NYC landed $200 million in construction financing to fund work at Homestead Gateway, Bloomberg reported. The 360-unit project is being developed at 701 Newark Avenue in the city’s Journal Square neighborhood. Goldman Sachs provided the financing for the 34-story development through its Urban Investment Group. The financing takes the shape of a construction loan, bridge facility, low-income housing tax credit equity and other public capital. A JLL team including Jimmy Cochran, Nicco Lupo and Jillian Grzywacz advised on the […]
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Architect Robert A.M. Stern, who brought a new dawn of luxury to New York City’s skyline, died Thanksgiving Day at the age of 86.
The cause was a brief pulmonary illness, his son, Nicholas, told The New York Times.
Alternative investment firm Ares Management Corp. is consolidating its logistics real estate platforms across the Americas, Europe and Asia-Pacific under a new brand, Marq Logistics.
The Manhattan office market pumped the brakes in November. Leasing activity dipped nearly 18 percent from October, despite a handful of big deals. Tenants inked deals for 2.99 million square feet, down about 12 percent year over year, according to a new Colliers report. Still, demand exceeded the borough’s 10-year monthly average and pushed year-to-date activity to 36.7 million square feet, already ahead of last year’s total. If December holds pace, Manhattan could top 40 million square feet of leasing for the first time since 2019. A handful of headline-grabbing deals anchored the month, led by Millennium Management’s 438,000-square-foot renewal […]
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The pool of investors looking to bet on U.S. demographic trends continues to grow, recent fundraising from Kayne Anderson Real Estate reveals.
The private investment firm has reportedly pulled in $2.5B in an ongoing fundraising effort that will be used to buy into needs-based sectors including senior housing, medical offices and student housing.
President Trump has complained that wealthy countries like Britain pay too little for drugs, leading America to bear much of the burden of the costs of medicines.
Even as Manhattan’s luxury market cooled in the run-up to Thanksgiving, it rang in the holiday with an above-average week. Buyers inked deals for 19 homes in the borough asking $4 million or more between Nov. 24 and Nov. 30, according to Olshan Realty’s weekly report. The total was down from 29 contracts signed in the previous period, but it beat the decade norm of 17 pending deals logged during the holiday week. A sponsor unit at 53 West 53rd Street, asking $23 million, was the priciest to snag a signed contract in the holiday week. The condo spans 3,700 […]
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The end of a tariff exemption on goods worth $800 or less has left some U.S. shoppers with an extra shipping bill that must be paid before delivery.