AI startup Clay inks 163K sf lease at SL Green’s 11 Madison

March 9, 2026 / no comments

An artificial intelligence startup is taking a big bite of office space at SL Green and Prudential Financial’s 11 Madison Avenue, as the sector continues to snap up prime Manhattan office space. Brooklyn-based firm Clay signed a 10-year lease for 163,000 square feet at the 2.3 million-square-foot tower, the landlord announced. The deal brings the building to 100 percent occupancy. The nine-year-old company will occupy the entire 14th and 16th floors and part of the 15th floor of the 30-story building, which sits on a full block between Park Avenue South and Madison Avenue and East 24th and 25th streets. […]

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

Chetrits’ Hotel Carter in Times Square to be auctioned

March 9, 2026 / no comments

After years of deterioration and blight, the Hotel Carter in Times Square is poised to have a new owner in a matter of months. The vacant property at 250 West 43rd Street is being put up for auction with the Manhattan sheriff’s office on May 6, the New York Post reported. The development was posted in a legal notice; the sheriff did not respond to a request for comment from the publication. Less than a year ago, the city filed a civil lawsuit against brothers Meyer and Joseph Chetrit, claiming they failed to properly maintain the property, making it a […]

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

Manhattan’s luxury contracts notch 10-month high 

March 9, 2026 / no comments

Manhattan’s luxury market reeled off its strongest week in almost a year.  The borough saw 43 contracts signed for homes asking at least $4 million between March 2 to March 8, for a total contract volume was $422 million, according to a report from Olshan Realty. The total marks the most in a single week since May 2025.  There were 23 contracts signed for condos, five for townhouses and 15 for co-ops — the most since November 2021. Homes that went into contract last week had a median asking price of $6 million and an average discount of 9 percent.  […]

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

Syndicator lender Ready Capital reports massive losses

March 9, 2026 / no comments

Ready Capital reported a $232 million loss in its most recent earnings amid a massive restructuring of its commercial real estate loan book.  Since last year, the firm’s stock has fallen over 60 percent from over $5 to under $2 and has slashed its dividend to $0.01. As part of its restructuring it is seeking to sell about $1.5 billion of loans to free up $250 million, company executives said on the earnings call. Its net loss of $232 million was still an improvement from its $314 million in the fourth quarter of 2024.   Ready Capital was once a key […]

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