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| May 2, 2019 | To keep pace with rivals, Industrious acquires co-working firm | New York-based flexible office firm Industrious has acquired another firm in its expansion quest.
Industrious, which partners with landlords to manage office space in revenue sharing agreements, said Thursday it had acquired TechSpace, a Ca... |
| Mar 29, 2019 | Private equity bigwig makes CRE play | Private-equity firm Insight Venture Partners has made its latest bet in the commercial real estate technology space, acquiring a New York-based software company focused on building operations. Through Property Brands, a holding company in w... |
| Mar 26, 2019 | Big rent-stabilized landlord sees backlash over facial recognition | A massive multifamily owner who plans to install facial recognition scanners at a rent-regulated complex in Brooklyn is facing the ire of residents who fear they could be surveilled.
Tenants at Nelson Management’s 700-unit Atlantic Plaza To... |
| Mar 21, 2019 | Ex-Town exec Luciane Serifovic launches virtual brokerage | Luciane Serifovic — a former executive at Town Residential and Douglas Elliman — is launching a boutique real estate firm targeting entertainment and sports clients.
Luxian International Realty, while based in New York City, is a virtual br... |
| Feb 12, 2019 | Vornado may now be targeting tech tenants at Farley Post Office redevelopment | Despite previous reports that it was targeting tenants from the high-growth life sciences industry, Vornado Realty Trust now appears to be broadening its reach at the Farley Post Office redevelopment.
The project, a key part of the redevelo... |
| Feb 7, 2019 | IBM planning new $2B AI research center in Upstate NY | New York City is developing a reputation for being a tech hotbed, but don’t sleep on Upstate. IBM is investing $2 billion into a new research hub in Albany focused on artificial intelligence.
The new AI Hardware Center will focus on compute... |
| Feb 5, 2019 | Forget San Francisco… New York is now the world’s best tech city: Savills | For the first time, New York City has surpassed San Francisco to grab the No. 1 spot in the Savills Tech Cities index.
The city pulled ahead on the triennial ranking because of the availability of venture capital and its deep talent pool, B... |
| Jan 10, 2019 | Compass snags Colliers’ James Emden to head office leasing | Compass has hired another grizzled veteran broker as part of its push into New York’s commercial markets.
The brokerage last month hired office leasing broker James Emden from Colliers International, according to Commercial Observer.
Emden ... |
| Nov 6, 2018 | Zillow Q3 revenue jumps 22% but Premier Agent disappoints | Premier Agent remains Zillow Group’s cash cow, but the lucrative ad program had a rocky quarter.
Following a series of tweaks to the feature, Premier Agent’s third-quarter revenue fell short of Zillow’s own expectations, the company said Tu... |
| Oct 30, 2018 | Real estate tech firm Flip inks lease on Grand Street in Williamsburg | Flip, a real estate tech firm meant to help renters sublet their apartments, has landed a 5,800-square-foot lease at 357 Grand Street in Williamsburg.
The asking price in the mixed-use building was $55 per square foot, according to a spokes... |
| Oct 24, 2018 | How Sonder hacked NYC’s short-term rental law | Hospitality company Sonder is opening its first New York location.
The company inked a master lease for 169 units at Metro Loft Management’s office-to-apartments conversion 20 Broad Street, where it will occupy the lower eight residential f... |
| Oct 3, 2018 | Want to invest in this luxury EV condo project? You can pay in crypto. | The Amirian Group is seeking investors for its boutique luxury condominium project in the East Village, but this is no traditional equity play. The developer and its partners hope the investors will buy into the project using cryptocurrency... |
| Jul 26, 2018 | The secret’s out: New portal to display whisper listings | Access to whisper listings has long been tightly controlled by blue-chip agents and their clients.
But a new portal wants to democratize some of the deal flow by charging brokers a monthly fee for entrée to properties that are quietly for s... |
| Jun 26, 2018 | WeWork “cracked the code,” but has it hit a ceiling?: panel | At first, landlords didn’t want to lease to WeWork. Now, the company is in Class A office buildings across the globe. And in the future, it could end up partnering with landlords.
“Partnering with WeWork is something we’ve thought about,” s... |
| Apr 25, 2018 | Here’s how much money WeWork made — and lost — last year | As a private company, WeWork has always kept its numbers close to its chest, leaving the rest of us guessing how much — or how little — money it makes and whether that justifies a $20 billion valuation. But all that changed this week, when ... |
| Apr 17, 2018 | NYC vs. Silicon Valley | From the April issue: In the grind of New York real estate, it can be a struggle to recognize what’s right in front of you. But the reality of technology companies moving in the city is undeniable — and Google’s $2.4 billion acquisition of ... |
| Apr 10, 2018 | SoftBank is making splashy real estate plays. But will they pan out? | Masayoshi Son responds to swagger.
It’s something only a handful of New York real estate executives may have realized about the 60-year-old SoftBank founder and CEO, who has poured billions into a slew of tech-focused startups over the last... |
| Apr 2, 2018 | Vornado, Related target life-sciences tenants for Farley Post Office redevelopment | Vornado Realty Trust and the Related Companies are targeting biotechnology and pharmaceutical tenants for their redevelopment of the Farley Post Office Building.
The joint venture hired a broker from Boston, which has a more mature life-sci... |
| Mar 19, 2018 | Advertisers are spending more on social media influencers, but will they sell real estate? | Advertisers will spend $1.6 billion on Instagram influence posts this year, up from $1 billion in 2017. But whether influencers can effectively sell real estate is still up for debate.
Developers and brokers are experimenting with influence... |
| Mar 8, 2018 | Adam Neumann, deal junkie: CEO ramps up personal bets as WeWork balloons | When IBM inked a deal to lease every desk at WeWork’s 88 University Place co-working space last year, Adam Neumann had more than one reason to celebrate.
Neumann and top WeWork brass had been working hard to win over corporate clients, and ... |
| Mar 5, 2018 | Fintech firms are gobbling up Manhattan office space | Big financial firms, banks and tech startups are driving demand for financial technology office space.
Fintech firms and units of larger companies accounted for roughly 877,000 square feet of Manhattan office leasing last year, according to... |
| Feb 13, 2018 | Perchwell claims Sotheby’s from RealPlus | A battle over the residential world’s back-end listing systems is heating up.
Perchwell — a startup that competes with On-Line Residential and RealPlus — said Sotheby’s International Realty will transition to from RealPlus its platform, joi... |
| Feb 8, 2018 | National Cheat Sheet: Inside Google’s $2B NYC building buy, states look to end bans on rent control … & more | Google joins $2B club with megadeal for Chelsea Market building
Google is buying the 1.2 million-square-foot office-and-retail Chelsea Market building from Jamestown for north of $2 billion. It puts the tech giant in an elite club of buyers... |
| Dec 21, 2017 | The 10 biggest real estate tech deals of 2017 | Though property prices came back down to earth in 2017, real estate tech valuations shot into the stratosphere.
WeWork is now worth $20 billion. Compass is valued at $2.2 billion following a December funding round. Have you heard of Placest... |
| Nov 30, 2017 | Landlords who used Airbnb to list illegal hotel settle with city for $1M | The hits in New York’s Airbnb crackdown keep on coming.
The city had sued a pair of property owners for running an illegal hotel that it listed on sites like Airbnb, and it has now settled with them for $1 million, according to the New York... |
| Nov 28, 2017 | Now trending on social for NYC real estate firms: Paid ads that pinpoint potential clients | From the November issue: In the months leading up to Donald Trump’s White House victory, hundreds of fake Facebook accounts flooded the social media site with posts about hot-button issues like gun control and immigration.
Those fake accoun... |
| Nov 27, 2017 | Don’t look now, but WeWork might be raising even more money: reports | WeWork already raised more than $6 billion from investors, but that doesn’t seem to be enough. Last week the company’s executives held talks with Israeli institutions about raising hundreds of millions through bond sales in Israel, accordin... |
| Oct 27, 2017 | Is Murdoch StreetEasy’s one true threat? | From the October issue:
“What the hell does Zillow mean?”
It was 2015, and the bull-headed media mogul Rupert Murdoch was speaking at a gathering of 4,000 real estate agents in Midtown Manhattan. “We know what ‘realtor’ means,” he said.
Mur... |
| Oct 9, 2017 | REBNY changes “predatory” Hackathon terms after Twitter backlash | At first sight, the Real Estate Board of New York’s upcoming Hackathon looked like a great deal. Participants could spend three days mingling with other coders, build real estate tech software together and “compete for a total of $75,000 in... |
| Oct 3, 2017 | Retailers testing new tech to save wounded bricks-and-mortar businesses | Can touch-screen technology revive struggling brick-and-mortar stores?
Fashion magazine Marie Claire and credit-card giant Mastercard have launched a pop-up store with Neiman Marcus goods at Richard Talmadge’s 120 Wooster Street in Soho. To... |
| Sep 14, 2017 | Can REBNY replicate its recent wins? | From the September issue: If only the Real Estate Board of New York got commissions for closing deals. Within a span of four months, at a pace that would make even top dealmakers envious, the influential trade association checked off three ... |
| Aug 18, 2017 | How the Airbnbs of retail are growing in a pillowy soft market | Behind the storefront of the Michele Varian boutique in Soho lies a store within a store.
Past the shop’s collection of industrial-chic lamps, brightly colored throw pillows and quirky design items, fellow Soho designer Melissa Joy Manning ... |
| Aug 4, 2017 | Landlord Solly Assa pays the price for allegedly allowing hotel-operator tenants to rent on Airbnb | Midtown landlord Salim “Solly” Assa could lose control of two properties after a Manhattan court ruled he did not stop his tenants from running illegal hotel operations through Airbnb.
Assa allegedly ignored around 100 notices of violations... |
| Jul 28, 2017 | Hot damn! Redfin’s stock skyrockets 45% on Nasdaq debut | Like buyers locked in a bidding war, Redfin investors boosted the online brokerage’s stock price a whopping 45 percent on Friday — its first day as a public company.
Ahead of Its Wall Street debut, the Seattle-based brokerage priced its sha... |
| Jul 17, 2017 | Wall Street or Silicon Valley: Who will Compass turn to next? | Standing on stage at Dogpatch Studios in June, Robert Reffkin rang in his 38th birthday by channeling his inner Steve Jobs. Clad in a black suit and T-shirt, the CEO of Compass addressed a pumped-up crowd of 300 agents at the former warehou... |
| Jul 12, 2017 | “Alexa, find me an apartment.” Amazon wades into home sales | Zillow Group has steamrolled its competition in recent years, gobbling up smaller firms in its wake. But the real estate giant may soon meet its match.
On Tuesday, Amazon teased a new service that would connect customers to real estate agen... |
| Jul 3, 2017 | Tech companies lose grip on leasing in Midtown South | Aetna’s deal to lease 145,000 square feet in the Meatpacking District is just the latest sign that non-technology tenants are increasingly drawn to Midtown South.
Tech tenants accounted for just 13 percent of new leases in Midtown South dur... |
| Jun 26, 2017 | NYU Langone launches 50K sf bio-tech hub in Hudson Square | NYU Langone Medical Center is opening a 50,000-square-foot biotech co-working center at Olmstead Properties’ [TRDataCustom] 180 Varick Street in Hudson Square, a project the city hopes will help the Big Apple compete with biotech hubs like ... |
| Jun 20, 2017 | WeWork will go public: Neumann | WeWork’s [TRDataCustom] CEO Adam Neumann confirmed that the co-working company plans to go public, but cautioned it has still to decide when and where to list its shares.
Speaking at a luncheon at the Economic Club of New York last week, Ne... |
| Apr 19, 2017 | IBM to take entire WeWork building in landmark deal | IBM has agreed to sign a membership deal for all desks in WeWork’s 88 University Place, in the first reported case of a single corporation taking an entire WeWork space in New York. The deal comes as WeWork tries to extend its appeal beyond... |
| Apr 19, 2017 | UK startup wants to profit from New York’s retail vacancy epidemic | UPDATED, April 19, 4:30 p.m.: A British startup is looking to capitalize on Manhattan’s rising retail vacancy rate by offering landlords a chance to list their empty storefronts as short-term rentals online.
Appear Here, which opened a New ... |
| Mar 28, 2017 | The CRE tech merger wave continues: Industrious acquires sublet site PivotDesk | Co-working startup Industrious acquired the office sublet listing site PivotDesk and announced a new $25 million funding deal as it prepares to take on WeWork in the flexible workspace market.
The new capital raise, an add-on to a previousl... |
| Mar 6, 2017 | Ryan Serhant, top brokers denounce StreetEasy agent program | Some of the city’s most prominent real estate brokers are taking to social media to berate StreetEasy’s controversial new premier agent feature, which farms out listing leads to agents who pay to advertise on the platform.
Ryan Serhant [TRD... |
| Dec 8, 2016 | Chase puts giant MetroTech retail block on the market | JP Morgan Chase — the owner two buildings in the MetroTech Center — is set to list 180,000 square feet of retail space for rent at the Downtown Brooklyn buildings.
The available space is across both 3 Metrotech Center and 4 Metrotech Center... |
| Sep 30, 2016 | NYC’s biggest real estate firms are “paranoid” about cybersecurity and excited by virtual reality: panelists | Real estate tech upstarts are focused on better tools for consumers, but New York’s graying veterans of the industry see cybersecurity, virtual reality and smart building technology as the key to maximizing the bottom line, speakers at a pa... |
| Jul 21, 2016 | For Compass backers, ROI remains far off | For investors in Compass, there are no shortcuts to a payday.
The brokerage is looking to raise about $50 million at a $1.3 billion valuation, which would make it the most valuable residential brokerage in the country by a distance — at lea... |
| Jun 23, 2016 | FDNY renews 320K sf lease at 9 MetroTech Center | New York’s fire department renewed its 320,000-square-foot lease at Forest City Ratner’s 9 Metrotech Center in Downtown Brooklyn.
The department, which occupies the entire eight-story building, will stay for another 10 years after its curre... |
| May 4, 2016 | VTS raises $55M in Series C at $200M valuation | In one of commercial real estate technology’s biggest-ever fundraising efforts, VTS raised $55 million in a Series C round led by Insight Venture Partners. The round values the cloud-based leasing and portfolio management platform at about ... |
| Jan 27, 2016 | Slate magazine moves to downtown Brooklyn | Slate is ditching the West Village for Brooklyn. The web magazine signed a 21,000 square-foot lease at the Forest City Ratner’s Metrotech Center on Downtown Brooklyn, where it will move in April along with Slate Group’s podcasting arm Panop... |
| Aug 30, 2015 | OkCupid founder picks up Greenpoint multifamily | The co-founder of OKCupid has made a connection with a townhouse in Greenpoint. Christian Rudder just paid $2.1 million for the 3,400-square-foot building at 925 Lorimer Street.
Rudder – now a musician — seems to have purchased the home alo... |
| Jun 10, 2015 | The $5 billion question: Will WeWork survive the next downturn? | In November, news broke that the shared-office provider WeWork raised $150 million in February 2014 from a number of high-profile investors, including Boston Properties’ Mort Zuckerman. The deal valued WeWork at $1.5 billion and catapulted ... |
| Apr 20, 2015 | Prodigy Network to develop short-term rental apartments | Prodigy Network, one of the city’s most prominent real estate crowdfunding firms, is following in WeWork’s footsteps with plans to combine shared workspace and short-term rental apartments, The Real Deal has learned.
The firm is looking to ... |
| Apr 14, 2015 | How a NY governor and a promising crowdfunder fell out | UPDATED, 4:16 p.m., April 14: For an ambitious real estate tech startup, bringing on a well-connected former governor as an adviser sounds like a match made in heaven. But in the case of iFunding and former New York Gov. David Paterson, the... |
| Apr 8, 2015 | Crowdfunding startup Patch of Land raises $23.6M in Series A | This Patch of Land is looking pretty fertile. The real estate crowdfunding firm raised $23.6 million in its Series A round, CEO Jason Fritton told The Real Deal.
The capital raising makes the California-based startup one of the best-funded ... |
| Nov 25, 2014 | Is Urban Compass really the future? | Brown Harris Stevens’ Twitter handle reads, simply, “@Established1873.” The brokerage trades upon its distinguished lineage and generally manages to keep its white-gloved hands out of industry drama. But when real estate startup Urban Compa... |
| Oct 20, 2014 | Advertising tech firm expands to 25K sf in the Village | Integral Ad Science, a technology company that measures the safety and quality of websites for digital advertisers, has relocated its headquarters from Union Square to the West Village.
The company picked up 25,000 square feet of space at 9... |
| Aug 9, 2014 | This startup wants to be the E-Trade of real estate | In the current environment of low interest rates, investors are scrambling for yield, and many have turned to real estate. Typically investors buy and flip homes, or they invest in real estate investment trusts (REITs), which own different ... |
| Jul 21, 2014 | Urban Compass raises $40M from Salesforce CEO, others | UPDATED 10:00 a.m., July 22: The industry’s collective puzzlement over Urban Compass just turned into befuddlement. Less than a year after raising $25 million from blue-chip investors such as Salesforce’s Marc Benioff and Condé Nast parent ... |
| Jul 7, 2014 | Software firm triples space in Silicon Alley | Software and data analytics firm Varonis Systems has tripled its space at 1250 Broadway, taking two additional floors in the Silicon Alley tower.
The information technology company renewed its lease for 15,356 square feet on the building’s ... |
| Jun 9, 2014 | CBRE to head up leasing at Harbor Group’s 55 Broadway | Harbor Group has named CBRE the agent for the 31-story 55 Broadway, a 361,000-square-foot office property also known as One Exchange Plaza.
The commercial real estate company will focus on attracting tenants from the worlds of technology, a... |
| May 22, 2014 | Two New York start-ups receive venture capital for new offices | Two technology start ups have received funding to move their operations to new locales.
Translation platform Smartling is moving from lower Park Avenue to Broadway and 37th Street, in June, where it will occupy 22,000 square feet.
Tinybop, ... |
| Apr 20, 2014 | Nonprofits facing challenges in real estate market | With technology firms eating up space in older loft-like buildings at a rapid rate, rents in formerly affordable office spaces have been going up, making it difficult for nonprofits and arts organizations to find affordable deals.
In the fi... |
| Apr 15, 2014 | Bowery snags first tech office space | UPDATED, 3:18p.m., May 22: Westchester-based developer Caspi Development, in partnership with Ultimate Realty, is in contract to purchase a seven-story office building at 161 Bowery. The firm intends to turn the property into the neighborho... |
| Apr 4, 2014 | Some landlords feeling wary about young tech firms | From the April issue: Some of the most valuable office leases inked in Manhattan’s Midtown South in the last year were with the new darlings of the real estate world, technology firms. Among the attention-getting deals were Twitter signing ... |
| Apr 3, 2014 | How brokers are clicking with the Technorati | When LinkedIn first set up shop in New York City in 2009, it started with a small sublease in the Empire State Building. As the social networking company grew, it kept devouring space in the tower. LinkedIn now ranks among the biggest tenan... |
| Mar 26, 2014 | Brooklyn Nets boss pressing to move team office to Russia | The billionaire owner of the Brooklyn Nets is looking to relocate his basketball team’s Manhattan corporate office to his home country of Russia amid the ongoing political clash between that country and the U.S.
Mikhail Prokhorov, a Barclay... |
| Mar 24, 2014 | New company offers biotech startups space in Harlem | A new business incubator for startup biotech ventures is yet another sign of the change sweeping Harlem.
Harlem Biospace, which launched in November, offers its clients lab space for projects with rents at $995 per desk monthly. The city’s ... |
| Feb 27, 2014 | StreetEasy-Zillow heads to larger digs in Flatiron | UPDATED, 5:30 p.m., Feb. 27: Less than two years after StreetEasy moved to its current Soho location at 13 Crosby Street, the listings database that was acquired by Zillow six months ago is heading to a larger space.
Zillow, on behalf of St... |
| Feb 26, 2014 | JPMorgan Chase said to eye employee move to Brooklyn | JPMorgan Chase is rumored to be planning the relocation of 2,000 employees to its Brooklyn MetroTech office by the end of 2014.
The majority of the moved workers will come from the bank’s 1 Chase Manhattan Plaza office, a 60-story building ... |
| Jan 6, 2014 | Tech firms double Lower Manhattan office space | New York City’s technology firms are moving to Lower Manhattan in favor of cheaper rents and other perks, according to data from brokerage Jones Lang LaSalle that shows the office space they leased doubled in 2013.
In total, tech companies ... |
| Dec 26, 2013 | NYU to open DoBro engineering school in January | New York University, which has received a stormy response from neighborhood residents over the Manhattan expansion plans in Greenwich Village, is all set to expand into Downtown Brooklyn. The university will open the NYU Polytechnic School ... |
| Oct 24, 2013 | Forest City signs Quaker school to 45K sf space at MetroTech | Forest City Ratner has signed private high school the Brooklyn Friends School to MetroTech Center, the developer announced today. Brooklyn Friends, a Quaker school headquartered at 375 Pearl Street in Downtown Brooklyn, will move its upper ... |
| Oct 14, 2013 | LavaMap ties real world signage to commercial real estate lead generation | The team behind LavaMap wants to change how commercial real estate is bought, sold and rented. The first step on that path isn’t technology at all, it’s a big physical visual not unlike the real estate signs you’ve always seen on properties... |
| Jun 14, 2013 | Tech firms face office leasing challenges | From the June issue: In March, the three-year-old information analysis company DataDog signed a lease for 6,500 square feet at 286 Fifth Avenue, just north of the Flatiron District. Sign Up for the National Weekly Newsletter
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| Mar 19, 2013 | NYU’s videogame institute takes DoBro digs | New York University’s new videogame development institute has inked a deal for space in Downtown Brooklyn, a big boost for the area’s efforts to attract trendy technology clients, the Wall Street Journal reported.
Beginning in the fall, the... |
| Jan 26, 2012 | Despite nabe’s lack of services, residential real estate booms near MetroTech Center | There is a residential “boomlet,” happening around Downtown Brooklyn’s MetroTech Center, the New York Post reported.Despite the lack of amenities, high-rises in the area are offering amazing views at affordable rents, the Post said.
“We’re ... |
| Dec 29, 2011 | Deutsche inks lease for 50,000 square feet in Downtown Brooklyn | From left: 4 Metrotech Center and Peter Riguardi, president at Jones Lang LaSalle
Deutsche Bank, the Frankfurt-based investment and financial services institution, will take 50,000 square feet of space at 4 Metrotech Center in Downtown Broo... |
| Dec 23, 2011 | European banks scared off from U.S. commercial property loans | From left: The entrance to Eurohyop’s NYC offices and 9 Metrotech Center (building credit: PropertyShark)As European banks mitigate risk amid the debt crisis that’s consumed the continent, many have stopped lending for commercial real estat... |
| Dec 20, 2011 | Tech firm space becoming scarce in Dumbo | From left: 55 Washington Street, home to Etsy, 45 Main Street, home to Huge, Inc., and 20 Jay Street the site of NYU-Polytechnic’s incubator (building credits: PropertyShark)
For the last decade tech firms and digital advertising companies ... |
| Jul 22, 2011 | Fitch downgrades pool of loans led by Metrotech Center building | Fitch Ratings downgraded a $6.6 million class of commercial real estate loans led by 10 Metrotech Center, a seven-story office building owned by Forest City Ratner in Downtown Brooklyn.
Fitch downgraded one class of COMM Mortgage Trust 2005... |
| Feb 3, 2011 | U.S. CMBS delinquency rate breaks last month’s record | From left: 478 Third Ave. in Manhattan (source: PropertyShark) and 10 Metrotech Center in Brooklyn Heights
The volume of delinquent commercial mortgage-backed securities in the U.S. rose to a staggering $61.4 billion last month, pegging the... |
| Dec 2, 2010 | 310,000-sf Murray Hill science center unveiled | Renderings of the life science complex
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City officials and developer Alexandria... |
| Apr 1, 2010 | Stuy Town foreclosure tops NYC distressed commercial properties list | Stuyvesant Town and Peter Cooper Village for the first time have made Trepp’s list of defaulted properties that are 60 or more days delinquent, the commercial loan tracking firm Trepp said. The 110-building Stuyvesant Town and Peter Cooper ... |
| Feb 15, 2010 | City tech agency to lease 85K in 2 Metrotech | Carole Post, commissioner of DoITT, and 3 Metrotech Center (building photo source: PropertyShark)
The city Department of Information Technology & Telecommunications is seeking to lease 85,000 square feet in a Class A office building in ... |
| Stuy Town foreclosure tops NYC distressed commercial properties list | Stuyvesant Town and Peter Cooper Village for the first time have made Trepp’s list of defaulted properties that are 60 or more days delinquent, the commercial loan tracking firm Trepp said. The 110-building Stuyvesant Town and Peter Cooper ... |
| “Alexa, find me an apartment.” Amazon wades into home sales | Zillow Group has steamrolled its competition in recent years, gobbling up smaller firms in its wake. But the real estate giant may soon meet its match.
On Tuesday, Amazon teased a new service that would connect customers to real estate agen... |
| Software firm triples space in Silicon Alley | Software and data analytics firm Varonis Systems has tripled its space at 1250 Broadway, taking two additional floors in the Silicon Alley tower.
The information technology company renewed its lease for 15,356 square feet on the building’s ... |
| Compass snags Colliers’ James Emden to head office leasing | James Emden and Rob Refkin (Credit: Compass)
Compass has hired another grizzled veteran broker as part of its push into New York’s commercial markets.
The brokerage last month hired office leasing broker James Emden from Colliers Internatio... |
| Brooklyn Nets boss pressing to move team office to Russia | The billionaire owner of the Brooklyn Nets is looking to relocate his basketball team’s Manhattan corporate office to his home country of Russia amid the ongoing political clash between that country and the U.S.
Mikhail Prokhorov, a Barclay... |
| UK startup wants to profit from New York’s retail vacancy epidemic | UPDATED, April 19, 4:30 p.m.: A British startup is looking to capitalize on Manhattan’s rising retail vacancy rate by offering landlords a chance to list their empty storefronts as short-term rentals online.
Appear Here, which opened a New ... |
| WeWork will go public: Neumann | WeWork’s CEO Adam Neumann confirmed that the co-working company plans to go public, but cautioned it has still to decide when and where to list its shares.
Speaking at a luncheon at the Economic Club of New York last week, Neumann also reit... |
| Landlord Solly Assa pays the price for allegedly allowing hotel-operator tenants to rent on Airbnb | Midtown landlord Salim “Solly” Assa could lose control of two properties after a Manhattan court ruled he did not stop his tenants from running illegal hotel operations through Airbnb.
Assa allegedly ignored around 100 notices of violations... |
| VTS raises $55M in Series C at $200M valuation | In one of commercial real estate technology’s biggest-ever fundraising efforts, VTS raised $55 million in a Series C round led by Insight Venture Partners. The round values the cloud-based leasing and portfolio management platform at about ... |
| Nonprofits facing challenges in real estate market | With technology firms eating up space in older loft-like buildings at a rapid rate, rents in formerly affordable office spaces have been going up, making it difficult for nonprofits and arts organizations to find affordable deals.
In the fi... |
| U.S. CMBS delinquency rate breaks last month’s record | From left: 478 Third Ave. in Manhattan (source: PropertyShark) and 10 Metrotech Center in Brooklyn Heights
The volume of delinquent commercial mortgage-backed securities in the U.S. rose to a staggering $61.4 billion last month, pegging the... |
| The 10 biggest real estate tech deals of 2017 | From left: Adam Neumann, Robert Reffkin, Ori Allon, Masayoshi Son and Ryan Williams
Though property prices came back down to earth in 2017, real estate tech valuations shot into the stratosphere.
WeWork is now worth $20 billion. Compass is ... |
| The $5 billion question: Will WeWork survive the next downturn? | In November, news broke that the shared-office provider WeWork raised $150 million in February 2014 from a number of high-profile investors, including Boston Properties’ Mort Zuckerman. The deal valued WeWork at $1.5 billion and catapulted ... |
| New company offers biotech startups space in Harlem | A new business incubator for startup biotech ventures is yet another sign of the change sweeping Harlem.
Harlem Biospace, which launched in November, offers its clients lab space for projects with rents at $995 per desk monthly. The city’s ... |
| IBM planning new $2B AI research center in Upstate NY | SUNY Polytech Institute in Albany and IBM CEO Ginni Rometty (Credit: SUNY poly and Getty Images)
New York City is developing a reputation for being a tech hotbed, but don’t sleep on Upstate. IBM is investing $2 billion into a new research h... |