Will Silverman News Today

Four Winds Real Estate closed a deal to buy 49 East 34th Street from Morgenstern Capital and HIG Capital for $68 million.

Bushburg plans to convert the skyscraper's offices into residential units.

In a key Manhattan shopping corridor, the world’s biggest luxury brands are outdoing each other to score the best positions.

Kering bought the 115,000-square-foot retail portion of 715-717 Fifth Avenue from Jeff Sutton’s Wharton Properties and SL Green Realty.

Silverstein Properties is selling its ownership stake in Hudson Research Center, the life sciences property it owns with Taconic Partners.

Financial Times: Long-awaiting reckoning arrives as building loans come due.

The developers have upgraded the affordable New York City assets. A joint venture between Nelson Management Group and The Vistria Group, with the former as managing general partner, has recapitalized Lafayette-Boynton Apartments and Promenade Apartments, a pair of affordable housing assets in the Bronx, N.Y.

Last week marked the official end of COVID-19 emergency, but office data is bad. Still, deals are being made.

With large institutional buyers pulling back on deals, high-net-worth families and little-known developers are bargain-hunting for Manhattan office buildings.

There's vast potential for investors in today's tumult, they say — and they've got receipts.