Page 9 - Lightstone Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

From left: 130 William Street, 111 Murray Street, 15 & 35 Hudson Yards On a warm March afternoon, Compass broker Clayton Orrigo was zooming, quite literally, between appointments in the West Village on an electric scooter. “That’s the only way I can get around fast enough,” he said during a mid-ride phone call. Many Manhattan residential brokers echo the sentiment; they’ve never been busier. Demand has finally picked up, which means a hefty schedule of showings, fierce negotiations and hurried contract signings. Even bidding wars are back. It’s not just the optimistic rhetoric all ...

Share via Shortlink Rendering of Figueroa Centre (right) with an aerial view of the vacant site at 911-927 South Figueroa Street (Google Maps, CallisonRTKL/Illustration by Kevin Rebong for The Real Deal) At 975 feet, the Figueroa Centre in Downtown Los Angeles would be the city’s third-tallest tower and include a hotel, condos and retail space in a glimmering glass and steel complex. The development would also mark a turning point for a patch of property that has been owned for decades by a branch of a Malaysian casino dynasty. Glendale-based Regalian LLC envisioned a 66-story compl...

The developers just opened the Moxy Hotel on South Beach two weeks ago. Hochberg says business has far exceeded their expectations. “The hotels that we have in New York are running 20 to 30% occupancy, and if you look at the hotels in Miami, they are running 90 to 100% occupancy.” Commercial real estate also appears to be experiencing a boom. Real Estate Broker Felix Bendersky said he shows properties to about a dozen groups a day. The interest isn’t only coming from New York, he said-- it's also coming from Canada, Moscow, and Los Angeles. “It’s been the busiest year on record str...

Share via Shortlink From left: 2-10 54th Avenue in Long Island City, 355 Exterior Street in the Bronx and a rendering of 145 Wolcott Street (Google Maps, Arquitectonica, iStock) Construction activity in New York City declined for the fourth straight year in 2020, according to a new report from the Real Estate Board of New York — although activity picked up in the last quarter with several big new projects. Just 1,760 new building plans were filed in 2020, the lowest number the city has seen since 2012, representing a nearly 10 percent decline from 2019’s total. The total square fo...

Share via Shortlink Clockwise from left: Richard LeFrak, Related chairman Stephen Ross, A&E’s Douglas Eisenberg, Cammeby’s International Group founder Rubin Schron and Blackstone president Jonathan Gray (Getty, iStock)   While 2020 was a turbulent year for New York City, things have largely stayed the same for the city’s biggest rental landlords. Policy changes in 2019 left New York’s multifamily players reeling, but the rental apartment sector experienced remarkably little distress compared to other sectors, like office or retail — something that industry experts had predi...