Underpinning the Pandemic, Another Malady: Municipal Finances
COVID-19 and the resulting economic downturn made a considerable impact in many areas of the U.S. economy during 2020, but most certainly in municipal budgets. Taking a look at the nation’s 75 largest municipalities, Truth in Accounting found that most could ill afford a large-scale health crisis. The organization’s just-released 2021 Financial State of the… Read more »
Foreign Investors Target US Core Assets
Since the Federal Reserve reduced rates at the beginning of the COVID-19 pandemic, hedging costs have come down for foreign investors. Leading the way were investors from South Korea, Singapore, Germany (through open-ended funds) and the Middle East. GLOBE St. Photo by Andrea Piacquadio from Pexels
Retail and Hotels Stall CMBS Recovery
The CMBS delinquency rate has steadily improved since a peak in June, but some asset classes are keeping the overall rate high. A new report from DBRS Morningstar looks closely at the CMBS delinquency rates from the last year, and found that retail and hotel properties could be hindering a recovery. Overall, the CMBS delinquency… Read more »
Nelson Worldwide Shares Insights on Evolving Workplace Expectations
The COVID-19 pandemic has changed, and continues to change, the way we approach going to work and using office spaces. As we enter 2021, people are still largely uncertain about the prospect of returning to the office and resuming anything resembling a “normal” work experience. This puts companies, who have large investments in office spaces,… Read more »
Women getting it done in commercial real estate
Is real estate still a man’s world? From architecture to brokerage to property management and everything in between, women continue to make strides in CRE, occupying top roles throughout the field. That’s not to say, however, that the experiences of women in commercial real estate are fully equitable or that we don’t still have some… Read more »
How COVID-19 Could Bring New Opportunities for Commercial Real Estate in 2021
by Neil A. Dolgin It’s no secret that the collateral damage to virtually every industry wrought by the pandemic over the past year has been swift and unprecedented. Commercial real estate (CRE) hasn’t been spared. Following the nationwide lockdown last spring, CRE firms both large and small have been forced to downsize, digitize operations and… Read more »
Design dynamos take 55,000 s/f at BNY
The Brooklyn Navy Yard Development Corporation (BNYDC) has signed leases with two design and manufacturing companies at the newly renovated Building 127, the last of the Yard’s historic buildings to be restored. Smart Design, one of the country’s leading strategic design consulting firms, and Daedalus Design & Production have signed long-term leases to relocate to… Read more »
Apple TV+ Soundstage to Open at Kaufman Astoria Studios in Queens
Apple will open a soundstage for its streaming service, Apple TV+, at Kaufman Astoria Studios in Queens. The tech giant signed a lease for 90,000 square feet in the recently built, six-story building at 34-11 36th Street, dubbed ONStage. Commercial Observer
Massive, Mixed-Use Project Revealed in Red Hook
A large industrial site at 145 Wolcott Street in Red Hook, Brooklyn, is set to become apartments, manufacturing space, retail and office. The commercial portion will include restaurants, shops and creative office space. The manufacturing will be geared toward artisan “maker” uses, such as computer numerical control milling, woodworking, coffee roasting, beer brewing, furniture making, clothing production,… Read more »