Billionaire Stephen Ross aims to position Florida’s Palm Beach County as the next Silicon Valley, calling the region a more business-friendly environment for tech investors and executives than California.
Soaring borrowing costs and plunging prices walloped the global commercial-property market last year. Now, more clarity around values and an urgent need to address looming debt maturities are expected to spark more deals.
After Labor Day, it's back to the office for Wall Street.
Business has started to evaporate across home-lending firms in recent weeks, after the Federal Reserve boosted borrowing costs to tame decades-high inflation.
Ken Griffin just set a new standard for Wall Street firms looking to make the move south.
At a time when New York towers are struggling with high vacancies and many workers are still remote, money managers are seeking to accommodate growing staff and encourage in-person collaboration with trendier digs. Along with tech companies, they’re helping to fill part of the void left from employers giving up space -- even as Manhattan’s office supply continues to grow faster than demand.
The skyscrapers are mostly empty, the tourists are home and talk of New York’s decay is back. For the city’s real-estate barons, it’s time to put an end to it.
Chains are calling for rent reductions through lease amendments and other measures starting in April.