The Emirates’ reputation as a safe destination in a volatile area was put to a brutal test in recent days as Iran, retaliating against U.S.-Israeli attacks, targeted the region with missiles and drones.

He’s got a way of making real estate waves on Long Island, even when it takes a long time to get accomplished. Billy Joel finally sold his Centre Island home, known as MiddleSea, for roughly $28.75 million, the New York Post reported. The identity of the buyer was not disclosed, but the sale price is reportedly a record for a home on Long Island — excluding the East End, where deals of this magnitude unfold semi-regularly. The legendary singer initially listed the estate for sale in 2023 for $49.9 million, a listing that included three parcels. After finding no takers, […]

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Blackstone’s flagship real estate fund attracted $7.2B in new capital across 2025 and quadrupled its internal rate of return year-over-year.

Prominent affordable and mixed-income housing landlord Camber Property Group sold an eight-building assemblage in Prospect Park for nearly $80 million. Rick Gropper’s firm offloaded the Brooklyn portfolio for $79.9 million, Crain’s reported. The properties in the deal included 666, 672, 682 and 816 Ocean Avenue, 280 East 21st Street, 91 and 95 East 18th Street and 221 Linden Boulevard. The deal breaks down to more than $206,000 per unit. The buyer was an affiliate of Star Realty Corporation. The Downtown Brooklyn-based firm does not have an online presence, but public records suggest a connection with developer Mordechai Piller. Camber and […]

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The former home of a storied designer scored Manhattan’s priciest contract last week.  Oleg Cassini’s former townhouse at 15 East 63rd Street had to wend its way through a three-year, drama-filled bankruptcy process before it was able to secure court approval for a contract to be signed on the home. The property claimed the priciest signed contract in Manhattan’s market last week, according to Olshan Realty.  The home had a last asking price of $39.5 million, down from $65 million when it was first listed in 2024 by Sotheby’s International Realty. The home was originally scheduled to be sold out […]

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Sonder’s recent demise left a short-term rental vacuum in the United States. Enter Belvilla. The Amsterdam-based subsidiary of SoftBank-backed OYO Hotels expanded into the United States for the first time, taking control of a handful of Sonder’s former properties, Bisnow reported. Belvilla acquired the rights to 10 of the 79 properties available through Sonder’s Chapter 7 liquidation process. Belvilla, which operates short-term rentals and apartment-style hotel properties, already launched at three of the buildings in question, including two in Long Island City, Queens. Among the other properties it is taking over are buildings in Brooklyn, Seattle, Denver, Philadelphia, Austin and […]

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Qatar said it had halted production of liquefied natural gas, forcing buyers to compete for supplies elsewhere.

The president’s flat 10 percent tariff is most beneficial to nations that previously faced the highest rates. But it’s not clear how much that will prompt a new surge in imports.

A City Council push to resurrect a controversial property seizure program is gaining momentum, with the Mamdani administration supporting a redesign that would once again allow the city to transfer tax-delinquent buildings with dangerous conditions to new owners. Council member Pierina Ana Sanchez, who chairs the Committee on Housing and Buildings, introduced legislation in late January to reboot the city’s Third Party Transfer program. The initiative, halted by former Mayor Bill de Blasio in 2019 after criticism that it disproportionately impacts homeowners of color, would be majorly redesigned under Sanchez’s proposal. Dubbed the Housing Rescue and Resident Protection Act, the […]

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As hinted at several months ago, Scott Rechler is cooking up another office-to-residential conversion in Lower Manhattan. RXR secured $475 million in total tax equity and construction debt for the 33-story, 796-unit conversion project at 61 Broadway in the Financial District, the Commercial Observer reported. The debt is split between $420 million in construction debt from Apollo Global Management and a $55 million tax equity investment from J.P. Morgan Chase. A JLL Capital Markets team including Andrew Scandalios, Drew Isaacson and David Giancola arranged the financing. RXR will pull on the 467m tax abatement program targeting office-to-residential conversions, which designates […]

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