Tag: Commercial

NYC commercial real estate facing record vacancies, low occupancy: ‘People are not coming back’

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The Peebles Corporation founder and CEO Don Peebles analyzes New York City’s commercial office space market amid a heavy drop in demand on ‘Mornings with Maria.’

During an interview on “Mornings with Maria” Friday, Peebles Corporation founder and CEO Don Peebles weighed in on the volatile housing market, arguing that New York City is suffering from a record-breaking number of commercial office vacancies because businesses are moving to “low tax environments.”  

DON PEEBLES: All cities aren’t created equally. New York City has changed dramatically. People are not coming back into their offices. And as a result of the decline in

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Real Estate

Recent Commercial Real Estate Transactions

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$4.19 MILLION

223 Fifth Avenue (at President Street)

Brooklyn

Built in 1920, this five-story, 12,240-square-foot building in Park Slope has four retail spaces and 12 apartments: four four-bedroom, four three-bedroom and four one-bedroom. Eleven of the apartments and all of the commercial spaces are occupied. The building last changed hands 37 years ago.

Buyer: Prospect Acquisitions

Seller: Unipres

Broker: Jack Beida of Eastern Union

$41.5 MILLION

975 Nostrand Avenue (between Montgomery Street and Empire Boulevard)

Brooklyn

This 59,633-square-foot, block-through property in Crown Heights includes 240 feet of frontage on Nostrand Avenue and 250 feet on Clove

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Real Estate

Money Laundering Thriving In Commercial Real Estate Outside Gateway Cities, Per Report

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Money laundering is a persistent problem in U.S. real estate, and one that involves the commercial side more and more.

Between 2015 and 2020, more than $2.3B was illegally laundered through U.S. real estate transactions, according to a study of over 100 cases by economic integrity think tank Global Financial Accountability. More than 30% of the money in those cases was laundered through commercial real estate specifically.

Since 2015, real estate in the U.S. has become a “preferred destination” for individuals or entities looking to stash ill-gotten gains, partly because its regulations and enforcement mechanisms have lagged behind other financial

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Real Estate

A Strong Recovery Is Underway In Commercial Real Estate, According To REIT Q2 Earnings

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The recovery in commercial real estate accelerated this spring, according to the news from second quarter REIT earnings reports. Earnings of all equity REITs, as measured by funds from operations (FFO), rose 19.8% in 2021:Q2 compared to the prior quarter. Significantly, FFO of the REIT sector as a whole rose slightly above the peak level prior to the pandemic, and has fully recovered from the declines in earnings experienced during the shutdowns and social distancing of last year (aggregate REIT earnings figures are reported in the Nareit T-Tracker, a

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Real Estate

Dynamic Change Forecast as Industry Responds to Changing Consumer Demands with New Commercial Opportunities

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DUBLIN, July 30, 2021 /PRNewswire/ — The “Home Improvement and Gardening Global Industry Overview” report has been added to ResearchAndMarkets.com’s offering.

Home seclusion brought on by the 2020 global pandemic has renewed consumer interest in home improvement and gardening as both a means to improve the function of the home and as a form of recreation. However, a tepid industry response to changing consumer demands may see much growth potential go unmet. However, as industry sales recover alongside gradual reopening, dynamic change is forecast for the industry’s competitive landscape with new commercial opportunities for savvy players.

The Home Improvement

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Home Improvement

White Oak Global Advisors Announces Launch of White Oak Real Estate Capital to Expand Its Credit Offerings Into the Commercial Real Estate Sector

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NEW YORK, July 26, 2021–(BUSINESS WIRE)–White Oak Global Advisors (“White Oak”) announced today that it has brought on Eric Tanjeloff as Managing Principal to lead White Oak Real Estate Capital (“WOREC”), a newly formed affiliate focused on credit opportunities in commercial real estate. WOREC will initially focus on direct loan origination secured by high quality real estate assets in the U.S. The affiliate will provide owners of transitional assets flexible capital to execute value add and opportunistic business plans, ranging from ground up construction to acquisition and lease-up bridge loans. WOREC will lend tactically against a broad

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Real Estate