CBRE, the world’s largest commercial real estate company, posted a jump in profit and revenues as it rides the wave of artificial intelligence demand, but fears over that same technology’s ability to upend the brokerage model continued to drag its share price down on Thursday.

Research from the New York Fed confirms that U.S. companies and consumers are bearing tariff costs, despite the president’s assertions otherwise.

European leaders have been compelled to address the possibility of once-remote risks to the financial networks and technology that undergird their economies.

Labor force participation for women with small children continues to float above prepandemic levels, thanks to flexible work setups — and rising costs.

When the City Council approved the rezoning of 42 blocks in Midtown South, it excluded 37 properties in the Garment District from changes that would pave the way for more housing. Now the owner of one of those properties is considering zoning changes to allow residential space anyway. Manocherian Brothers signaled in a brief summary filed with the Department of City Planning that it wants to rezone 257 West 39th Street, a 16-story commercial building that is home to various fabric shops.  The owner filed a preliminary description of the project in December, calling for a partial conversion of the […]

This article originally appeared on The Real Deal. Click here to read the full story.

New year, same rental market.  That was the story for January rents in the city, where median rent for a brokered, market-rate lease in Manhattan was $4,695, the third-highest number on record, according to Miller Samuel’s monthly rental report for Douglas Elliman.  The median rent was up 8 percent from last year, and down just slightly from December’s numbers.  “We’re just in this mode of steadily rising rents and until we see more of a drop in mortgage rates,” said report author Jonathan Miller. “I think that trend is going to be sustained for a while.”   The luxury rental market […]

This article originally appeared on The Real Deal. Click here to read the full story.

The widow and two daughters of LG’s former chairman sought to invalidate an inheritance agreement, claiming they were deceived into forfeiting their rightful inheritance.

Anthropic is pouring millions of dollars into a political action committee that will most likely face off against OpenAI.

If your car’s warning lights start flashing, do you take it in for repairs or keep driving until the brakes fail? Leila Bozorg keeps driving. Bozorg, Mayor Zohran Mamdani’s deputy mayor for housing, believes the state shouldn’t amend 485x unless the crucial multifamily development law remains broken for a while longer. Here’s what The City wrote last week: Bozorg doesn’t think the law needs any changes. “If you look at the history of 421a, there was slow uptake in early years and then it became a robust program that many used,” she said. “So I think it’s too early to […]

This article originally appeared on The Real Deal. Click here to read the full story.

Yay Yimby, nay bad landlords.  On Tuesday, back-to-back announcements delivered those two messages. The Mamdani administration released the dates for the five “rental ripoff” hearings, and then appeared at a rally to celebrate Gov. Kathy Hochul’s “Let Them Build” agenda, to support her proposal to reform the State Environmental Quality Review Act, or SEQRA.   During the press conference, Mamdani lamented the years that environmental review can tack onto a project’s timeline.  “Two years just to get through the environmental review on the project,” Mamdani said. “After that, you don’t even get to start building. That’s just when the actual approval […]

This article originally appeared on The Real Deal. Click here to read the full story.