NYC Apartment Rents Slip Back to 2011 Levels

The average apartment rent in Manhattan has fallen below $3,000 for the first time since 2011.

       

source https://feeds.feedblitz.com/~/637658848/0/globest/new-york~NYC-Apartment-Rents-Slip-Back-to-Levels/

Howard Hughes Corp. Unveils $1.4B Plan for Lower Manhattan's Seaport

The $1.4 billion proposal will transform an underutilized block in the South Street Seaport Historic District.

       

source https://feeds.feedblitz.com/~/637437390/0/globest/new-york~Howard-Hughes-Corp-Unveils-B-Plan-for-Lower-Manhattans-Seaport/

Centric Brands Leases 212, 154 Square Feet at the Empire State Building

The company had been occupying the space under a sublease.

       

source https://feeds.feedblitz.com/~/637394468/0/globest/new-york~Centric-Brands-Leases-Square-Feet-at-the-Empire-State-Building/

Infrastructure Projects Speed Up Amid COVID Slowdown

Accelerated construction timetables from San Francisco and Los Angeles to New York meant major infrastructure projects were completed weeks and months ahead of schedule.

       

source https://feeds.feedblitz.com/~/637385906/0/globest/new-york~Infrastructure-Projects-Speed-Up-Amid-COVID-Slowdown/

The Birch Group Purchases NJ Office Asset

Cushman & Wakefield brokered the sale of the 269,720-SF, class A office property in Ridgefield Park, NJ.

       

source https://feeds.feedblitz.com/~/637370134/0/globest/new-york~The-Birch-Group-Purchases-NJ-Office-Asset/

New York Concessions are Highest in Nation and Growing

The value of concessions in the area has risen 5.1 percentage points from 7.5% at the end of 2019, to 12.6% in August 2020.

       

source https://feeds.feedblitz.com/~/637354430/0/globest/new-york~New-York-Concessions-are-Highest-in-Nation-and-Growing/

Class A Apartments in Top Markets Are Leading the Rise in Concessions

Class-A markets and expensive markets are seeing an increase in apartment concessions.

       

source https://feeds.feedblitz.com/~/637348536/0/globest/new-york~Class-A-Apartments-in-Top-Markets-Are-Leading-the-Rise-in-Concessions/

JV Purchases NJ Trophy Office Asset

JLL represented the seller and procured the partnership of Vision Properties and the Birch Group as the buyer of the renovated, 228,000-SF property.

       

source https://feeds.feedblitz.com/~/637315894/0/globest/new-york~JV-Purchases-NJ-Trophy-Office-Asset/