The world’s largest real estate company has named new leadership for its development arm, Trammell Crow Co., and its asset management business.
Bloomberg is doubling down on Midtown East. The media and data giant inked a nearly 500,000-square-foot lease extension at Global Holdings’ 120 Park Avenue, locking in space across 20 of the 26-story tower’s floors, the landlord announced. The renewal ranks as the largest office lease of the fourth quarter and one of 2025’s largest overall. The new 11-year deal replaces Bloomberg’s prior lease, which wasn’t set to expire until 2029, and keeps the company anchored across Midtown East. Bloomberg first moved into the building in 2011 and now occupies the majority of the Class A tower, which sits across from […]
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Paramount Group is one step closer to being sold and Albert Behler is one step closer to receiving his golden parachute, whether his shareholders want him to have it or not. This week, Paramount’s shareholders approved the real estate investment trust’s sale to Rithm Capital, Crain’s reported. The Manhattan-based buyer submitted a $1.6 billion bid for the acquisition in September, which was $6.60 per share, 11 percent below market price. Saray Capital, a Dubai-based investment firm with a small stake in Paramount, swooped in this month with an offer of $6.95 per share, according to a regulatory filing. But Paramount’s […]
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Near the end of a season in which the Chicago Bears are surprisingly vying for a playoff bid, team president and CEO Kevin Warren is once again drawing public attention away from the field.
Just days before a pivotal division rivalry game against the Green Bay Packers, Warren announced in an open letter on Wednesday that the team would expand its search for a new stadium site throughout the wider Chicagoland region, including Northwest Indiana.
Warren said the expanded search radius was necessary after efforts to get public infrastructure funding for the Arlington Heights site had hit a dead end.
“This is not about leverage,” Warren wrote. “We spent years trying to build a new home…
A key committee in the House of Representatives approved its version of the Senate’s Road to Housing Act a week after provisions of the legislation were stripped out of a defense bill.
A former partner at one of real estate’s most well-known law firms is accusing the top litigator of lying about the company’s financial health and withholding millions in wages. Eric Herschmann, who left Kasowitz LLP this year, filed a lawsuit this week in New York State Supreme Court. In the complaint previously reported by Bloomberg Law, Herschmann alleges he is owed millions in unpaid wages due to Kasowitz’s mismanagement of the company, which caused profits to collapse. Kasowitz allegedly “secretly saddle[d] the firm with huge amounts of debt to pay partner distributions,” according to the lawsuit. Furthermore, Herschmann claims Kasowitz […]
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Lawmakers in the House and the Senate asked a government watchdog to determine if Howard Lutnick is following ethics guidelines in promoting data centers that benefit his family’s businesses.
The transportation department said the new rules were intended to make roads safer, but there’s no data to suggest that immigrants cause more truck accidents.
Data collection issues skewed the latest Consumer Price Index report, economists warned, clouding the picture for the Federal Reserve as it also grapples with a cooling labor market.
Factorial, the start-up, said the listing would provide money that would help it bring new solid-state batteries to market as soon as 2027.