Bondholders tied to the American Dream megamall are accusing its owners and a North Jersey borough of playing valuation games that torpedoed the collateral behind roughly $800 million in municipal debt. In a lawsuit filed in Bergen County chancery court, U.S. Bank Trust, acting as trustee for bondholders led by Nuveen, alleged that the Borough of East Rutherford and mall owner Triple Five Group colluded to slash the assessed value of the 3.5 million-square-foot retail and entertainment complex, according to Bloomberg. The cuts, bondholders say, have left annual payments covering less than half of the interest owed on the bonds. […]

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The unions representing pilots and flight attendants have in recent days publicly criticized American for falling behind Delta Air Lines and United Airlines.

The developers of the American Dream megamall have been accused of colluding with New Jersey officials to slash the 3.5M SF shopping and entertainment complex’s valuation and skimp on payments to bondholders.

The six largest retail leases within the five boroughs of NYC in January indicate that NYC is getting a big new bar as well as a new place to get your laundry done. However, neither of those offerings nabbed the top spot on this list. In fact, the number one lease below represents a certain department store’s first lease in Manhattan in almost a decade. Read on to see which companies inked the city’s top retail leases last month. 1) T.J. Maxx | 50 West 34th Street | Garment District | 40,000 sf The department store inked a new 10-year […]

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Covenant Capital Group closed on the Nashville-based private equity firm’s largest fund in its 25-year history targeting multifamily assets. 

January was a good month for tech companies, going by the number of leases they signed within the five boroughs of New York City. Of the top ten office leases in January, four of them were for tech companies and two of those were for AI platforms. That being said, not even PayPal’s massive new 261,000-square-foot Soho lease could quite secure the very top of the list. Read on to find out who did. 1) Office of the New York State Attorney General | 28 Liberty Street | Financial District | 378K sf The state attorney general’s office inked a […]

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Joss Realty REIT, a New York-based investor and owner of value-add office buildings, launched its initial public offering with 3 million shares of common stock expected to be priced between $4 and $6.

The E.W. Scripps Company is selling the channel to the parent company of Law&Crime, which wants Court TV to have a bigger streaming presence.

Manhattan’s trophy market kicked off February with a hot week for signed deals.   Of the 36 contracts signed for homes asking at least $2 million last week, 13 were for properties priced at $10 million or higher, according to Olshan Realty. The total marks the most weekly contract signings for homes asking eight figures since October 2024.  A new condo at 1122 Madison Avenue from Legion Investment Group and Nahla Capital contributed four contracts for homes in that price tier last week alone, and has already sold half of its 26 units at an asking price of almost $4,300 per […]

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Ads pitching artificial intelligence companies dominated the Super Bowl broadcast. Their huge cost probably didn’t ease investor worries about spending.