Vornado to Create Tracking Stock for Revitalized Penn District

It also plans to demolish the Hotel Pennsylvania to make way for new development.

      

source https://feeds.feedblitz.com/~/649038374/0/globest/new-york~Vornado-to-Create-Tracking-Stock-for-Revitalized-Penn-District/

Asking Retail Rents Drop Further in Manhattan Last Quarter

In Manhattan’s prime 16 retail corridors, the average retail asking rent dropped 13.4% year-over-year.

      

source https://feeds.feedblitz.com/~/648960900/0/globest/new-york~Asking-Retail-Rents-Drop-Further-in-Manhattan-Last-Quarter/

Multifamily Sale Sets Record for Jersey City Neighborhood

A historic 94-unit, mixed-use property in the city’s Journal Square neighborhood has sold for a sales price equating to $252,500 per-unit.

      

source https://feeds.feedblitz.com/~/648776092/0/globest/new-york~Multifamily-Sale-Sets-Record-for-Jersey-City-Neighborhood/

W.P. Carey Completes $119M Retail Sale-Leaseback in France

The off-market sale comprises three hypermarket properties, which span 424,800 square feet and are triple-net leased to a global food retailer.

      

source https://feeds.feedblitz.com/~/648695536/0/globest/new-york~WP-Carey-Completes-M-Retail-SaleLeaseback-in-France/

Honoring Humanitarians in CRE

GlobeSt. Real Estate Forum is aiming to recognize humanitarians within the industry by offering a specific nomination category within our Women of Influence awards. The submission deadline is fast approaching on April 14!

      

source https://feeds.feedblitz.com/~/648621394/0/globest/new-york~Honoring-Humanitarians-in-CRE/

JV Partners Acquire Connecticut Multifamily for $73M

Monday Properties and Neo Capital have purchased the class A, Stamford property, which is currently 95% leased.

      

source https://feeds.feedblitz.com/~/648617438/0/globest/new-york~JV-Partners-Acquire-Connecticut-Multifamily-for-M/

Sublet Space Jumps in Manhattan

Once COVID-19 hit, the sublet space increased dramatically, jumping 61.7%, while available direct space has surged by 50%.

      

source https://feeds.feedblitz.com/~/648612698/0/globest/new-york~Sublet-Space-Jumps-in-Manhattan/

The Rudin Family to Reposition 3 Time Square

Original building architect, FXCollaborative will lead the multi-million dollar building reimagination.

      

source https://feeds.feedblitz.com/~/648527238/0/globest/new-york~The-Rudin-Family-to-Reposition-Time-Square/

Uneven Retail Comeback Likely in New York

Construction is limited in Manhattan but more active in the surrounding boroughs.

      

source https://feeds.feedblitz.com/~/648448998/0/globest/new-york~Uneven-Retail-Comeback-Likely-in-New-York/