commercial real estate

Stories 1 - 20 |  Next >>

Tech Firm Pays $89.5M to Cancel Office Lease

Pinterest cites shift toward working at home

(Newser) - In an ominous sign for the commercial real estate market market, a social media company has decided to cough up $89.5 million instead of proceeding with a deal to rent new offices in San Francisco. The company cited the shift toward working from home for its decision to cancel...

Report: Moscow Trump Tower Was Discussed Amid Campaign

Real estate deal apparently fell through, per 'WaPo' report

(Newser) - "Can you believe two guys from Brooklyn are going to elect a president?" That's a paraphrased remark in a November 2015 email from a Russian-born real estate developer to Trump Organization exec Michael Cohen, which the Washington Post reports was part of the business' effort to develop a...

'Recovery' Looking Like 10-Year Recession

Uncertainty is the 'new normal' in America

(Newser) - For many Americans, "recovery" feels a lot like recession—and it may take a decade for that to change, finds the New York Times . At the current rate of job creation, for instance, it would take nine years to recapture jobs lost thus far. Home prices, meanwhile, are down...

Lending Falls at Fastest Rate Since 1942

Boatload of bank failures likely in 2010

(Newser) - Banks tightened credit last year at what the Wall Street Journal calls an “epic pace,” recording their biggest full-year decline in loans outstanding in 67 years. The figure comes from a new FDIC report that paints the picture of a banking industry that, apart from a few top-tier...

Record $5.4B NYC Apartment Complex Lost to Creditors

Stuyvesant Town project collapses under debt

(Newser) - The record-setting sale of a New York residential property for $5.4 billion in 2006 was a deal made at the height of the boom—and it's now a casualty of the collapsed real estate market. Tishman Speyer, the property company that bought the 56-building, 11,000-unit Peter Cooper Village...

DC Office Prices About to Pass NY

Falling banks, rising government shifts real estate market

(Newser) - Washington, DC, is on the verge of passing New York as the priciest place to rent an office in the country. Rents were down pretty much across the board in the latest figures from Reis, a New York-based research firm, but DC saw only a mild 3% decline, to an...

Post for Sarko Son Sparks Howls of Protest

Law student tapped to run huge, lucrative business district

(Newser) - It's not every day that a 23-year-old law student is tapped to manage the largest office park in Europe, but when you are Jean Sarkozy, anything's possible. The son of the French president, who already has a local government post, has the ruling party's official backing to run La Dé...

Commercial Real Estate May Set Off 2nd Crisis

Another mortgage-backed securities market gets into trouble

(Newser) - Just as the economy starts to recover, a second mortgage disaster may be looming. The commercial real estate sector is tanking, with many properties unable to generate enough cash to make mortgage payments. Lo and behold, those commercial mortgages have been sewn into securities—comparable to the packages of home...

Big Losses Loom at Small Banks

(Newser) - Small and midsize banks across America could face $100 billion in losses from commercial real-estate loans next year, shrinking their capital in most cases to scary lows. The Wall Street Journal conducted worst-case-scenario stress tests on 900 banks and found crises looming far beyond Wall Street. Small and midsize banks...

Foreclosed Boston Landmark Auctioned Off for Half Price

(Newser) - New England’s tallest building has a new owner today, the Boston Herald reports—and the John Hancock Tower proved a steal, going at foreclosure auction for about half what it sold for in 2006. A pair of firms bid $660.6 million for the 60-story building in Boston’s...

Commercial Real Estate Crisis May Rival '90s Disaster

(Newser) - Commercial real-estate borrowers are defaulting on their loans at an ever-faster pace, and experts now believe the crisis could match or exceed the early-1990s slump, the Wall Street Journal reports. That catastrophe killed off 1,000 banks and savings institutions, with lenders taking $48.5 billion in charges. This time,...

Credit Freeze Hits High Fliers of Commercial Real Estate

Slowdown plus tough credit slams office market

(Newser) - When the commercial real estate market was hot, the sky seemed to be the limit, and increasingly complicated financing arrangements were common. Now the combination of economic crisis and credit freeze has exposed the market's precarious underpinnings, which resemble the pitfalls that brought the residential real estate sector to its...

Real-Estate Pioneer Crow Dead at 94
Real-Estate Pioneer Crow Dead at 94
OBITUARY
Jan 16, 2009 5:41 PM CST

Real-Estate Pioneer Crow Dead at 94

Turned single Dallas warehouse into international empire

(Newser) - Visionary real-estate developer Trammell Crow, who pioneered strategies that helped him become one of the world’s largest landlords, has died, the Dallas Morning News reports. He was 94 and suffered from Alzheimer’s disease. Crow, who helped popularize the concept of building on spec—erecting structures before they were...

As Bills Loom, Developers Cry Bailout

Some $530B in commercial mortgages will need refinancing—and credit is tight

(Newser) - Developers worried about the health of the commercial real estate market want a piece of the bailout action, the Wall Street Journal reports. They say $530 billion in commercial mortgages will be up for refinancing in the next 3 years, but credit “simply is not available.” Without government...

Cash-Poor NYT Seeks $225M Deal for Building

Tight credit market, falling profits hurt paper

(Newser) - Facing declining profits and tight credit, the New York Times is looking to raise $225 million by borrowing against the 58% share the company holds in its new Renzo Piano-designed skyscraper in Times Square, the paper reports. The Times hopes to either take out a mortgage on the 52-story building...

Overbuilding Leaves Malls Under-Occupied

Retail space glut likely to well outlast current economic slowdown

(Newser) - A decade of rapid expansion by developers and an increase in store closings has created a glut of space in malls that could persist for years, the Wall Street Journal reports. “There were a lot of projects that shouldn't have been built” during the past decade, the CEO of...

Chicago Transit Explores Groceries in Train Stations

Agency hopes to reap $100M over 5 years with new developments

(Newser) - The Chicago Transit Authority is looking make more money from the real estate it owns, and is investigating installing grocery stores and restaurants inside “L” (elevated train) stations, the Tribune reports—with the agency hoping to generate $100 million over the next 5 years from such commercial development. "...

Commercial Real Estate Will Slow, Not Tank

Malls, offices won't be hit nearly as hard as housing, experts say

(Newser) - The commercial real estate market has slowed dramatically, but won’t rival the housing implosion, reports the Wall Street Journal. Prices will likely fall just 20%, compared with 40%-plus for homes in some markets, and commercial property owners—unlike record numbers of homeowners facing foreclosure—have largely been able to...

Goldman Analysts Warn of Next Crisis

Commercial real estate outlook even worse than subprime situation

(Newser) - Commercial real estate could be the next victim of the current economic downturn, and if it is, expect it to cause another full-fledged crisis, the Wall Street Journal reports. Commercial real estate values could fall as much as 26% over the next 2 years, Goldman Sachs analysts predict, leading to...

Credit Crunch May Worsen Fast
Credit Crunch May Worsen Fast
Feb 11, 2008 2:45 PM CST

Credit Crunch May Worsen Fast

Plunging corporate loans could spell more trouble

(Newser) - The worst of the credit crunch may not be over, bankers and analysts warn. Low-rated corporate loans have recently been plunging in value, which could lead to banks rushing to dump the loans at low prices, reports the Wall Street Journal. As a result, investors may back off securities backed...

Stories 1 - 20 |  Next >>
Most Read on Newser