James Im, a former CMBS trader with Nomura Securities who five years ago was charged by the SEC with lying to bond investors in order to inflate the company’s profits, on Friday was exonerated by a jury The jury finding was reported first by...
Commercial Real Estate Direct Staff Report Efforts to take the 1,639-room Palmer House Hilton hotel in Chicago through foreclosure are progressing The 97-year-old hotel, at 17 East Monroe St, is encumbered by a total of $4275 million of debt,...
Brooklyn Paper The Legal Aid Society is suing the owner of 111 Livingston St, a 434,000-square-foot office building in Brooklyn, NY, alleging the property is infested with mold The organization is seeking $2 million in damages and is looking to get...
Crain’s New York Business New York City Mayor Eric Adams’ preliminary budget estimates that the value commercial buildings in the city is about $301 billion for the upcoming fiscal year, ending September 2023 Property values are...
The Real Deal New York Mayor Eric Adams said he would support a freeze on rents at properties subject to the city’s rent stabilization rules, if its Rent Guidelines Board also calls for a freeze The statement by Adams, who was sworn in last...
The Real Deal As New York City’s 421a property-tax exemption program reaches its June 15 sunset, the governor of New York State, Kathy Hochul, is proposing a replacement that would include mandates for certain “green” building...
The Real Deal Mitch Kossoff, a Manhattan attorney with a long list of property-owning clients in the city, has admitted to defrauding his clients over a three-year period Kossoff pleaded guilty to three charges of grand larceny and one for scheming...
Commercial Real Estate Direct Staff Report SL Green Realty Corp has denied claims by PWM Property Management, an affiliate of the owner of Manhattan’s 245 Park Ave, that it’s at fault for vacancies the property is facing PWM, an...
The Real Deal The Moinian Group has settled its lawsuit with the National Basketball Association over unpaid rent at 545 Fifth Ave in Manhattan The New York company, which owns the building, had filed the suit in June 2020, claiming the professional...
The $36 million CMBS loan against the 212-unit SkyLoft Austin student-housing property near the University of Texas-Austin campus is now more than 30 days late The property was owned by Nelson Partners Student Housing, which has been accused by...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
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