Commercial Observer

WeWork will stay open for business at 77 Sands Street in Dumbo, Brooklyn, but in a smaller footprint, the coworking company announced Monday. Landlords RFR and Kushner Companies agreed to modify ...

https://commercialobserver.com/2024/04/wework-lease-77-sands-street-brooklyn/

A New York City-based investment group has gotten its hands on a large multifamily property in Los Angeles’ Sherman Oaks neighborhood at a 10.5 percent discount.  Abacus Capital Group paid $72...

https://commercialobserver.com/2024/04/la-multifamily-complex-trades-11-percent-discount/

A more than 100-year-old cultural building in Miami’s Design District is in the midst of reopening after closing for renovations late last year, and it has a new restaurant to show off. The Moo...

https://commercialobserver.com/2024/04/elastika-opens-miami-moore-building/

Oh, how the fortunes have turned.  Apartment rents appear to have finally peaked in Florida, after flaunting national trends quarter after quarter.  Median asking rents for one-bedroom apartmen...

https://commercialobserver.com/2024/04/apartment-rents-are-finally-down-across-florida/

Perhaps the most prolific LGBTQ club in Los Angeles traded hands for $27 million, Commercial Observer has learned.  Tech entrepreneur Tristan Schukraft agreed to buy The Abbey and its sister loc...

https://commercialobserver.com/2024/04/la-abbey-nightclub-price-west-hollywood/

Three-year-old brokerage Open Impact Real Estate and industry giant JLL have formed an alliance, Commercial Observer has learned. Open Impact co-founders Lindsay Ornstein and Stephen Powers signe...

https://commercialobserver.com/2024/04/open-impact-jll-partnership/

Kobalt Music Group just couldn’t quit 2 Gansevoort Street. After subleasing all its offices in the nine-story Meatpacking District building, the music publishing company dropped a fresh 10-year...

https://commercialobserver.com/2024/04/kobalt-music-group-lease-2-gansevoort-street/

The former owner of The Washington Post has upgraded its headquarters and apparently didn’t want to move far to do it. Graham Holdings Company has signed a 15-year, 24,023-square-foot lease wit...

https://commercialobserver.com/2024/04/graham-holdings-new-va-headquarters/

A distressed office tower sale in Downtown Los Angeles has fallen through, sources told Commercial Observer.  Brookfield Asset Management was set to sell the 777 Tower for just $145 million to S...

https://commercialobserver.com/2024/04/la-brookfield-777-tower-sale-falls-through/

New York City Mayor Eric Adams aims to capitalize on windfalls the city has seen over the past two years of his administration with his new budget, though it’s light on specifics regarding what...

https://commercialobserver.com/2024/04/adams-111b-budget-avoids-cuts/

As the current commercial real estate cycle plays out and the resolution timeline for specially serviced assets lengthens, Morningstar Credit wanted to look at how distressed appraisal valuations...

https://commercialobserver.com/2024/04/loans-in-special-servicing-what-to-know-about-their-appraisals/

New York Gov. Kathy Hochul threw a jamboree Tuesday alongside labor leaders and other politicians to revel in the housing deal state lawmakers put on the books over the weekend. “We defied the ...

https://commercialobserver.com/2024/04/hochul-ny-housing-deal/

Beverly Hill development and investment firm Bolour Associates announced Tuesday that it has provided $20 million in debt financing for the multifamily redevelopment of three properties in promin...

https://commercialobserver.com/2024/04/la-retail-housing-bolour-grubb/

Tower Capital clearly has faith in its retail-focused platform, and has hired three new finance experts to bolster its efforts in that sector. The firm has tapped Alex Chenarides, Monica Penderga...

https://commercialobserver.com/2024/04/tower-capital-three-new-hires/

An IT solutions provider is tacking on an extra 10,238 square feet to its 500 Fifth Avenue offices, Commercial Observer has learned. Ahead expanded its offices to a total of 16,486 square feet ac...

https://commercialobserver.com/2024/04/it-firm-ahead-expands-to-16k-sf-at-500-fifth-avenue/