Commercial Real Estate Direct Staff Report The average asking rent for ground-floor retail space in Manhattan at the end of last year was $652/sf, a 99 percent decline from 2019, according to CBRE Rents dropped by 11 percent in the third quarter,...
A total of 20 million square feet of office leases were signed in Manhattan last year, a 495 percent drop from the 396 million sf that was leased in 2019, according to CBRE That was the lowest leasing volume in the borough since CBRE began tracking...
Despite historically low interest rates, defeasance volume in the CMBS market plunged last year to $68 billion from $153 billion in 2019, according to Trepp LLC That no doubt was driven by the reluctance from investors to complete sales transactions...
Commercial Real Estate Direct Staff Report December marked the third straight month in which the volume of CMBS loans with special servicers has declined It fell by 35 percent to $5295 billion from $5486 billion in November, according to Trepp LLC...
Commercial Observer The 480-room Novotel New York Times Square hotel in Manhattan has permanently closed Millennium & Copthorne owns the property, which it had bought in 2014 for $2736 million The hotel, at 226 West 52nd St, sits between Eighth...
The US hotel occupancy rate rebounded during the week through Jan 2 as a result of increased travel for the New Year’s holiday The rate jumped to 406 percent, according to STR, from 325 percent during the week through Dec 26 – the lowest...
Commercial Real Estate Direct Staff Report The volume of CMBS loans that are more than 30-days late with their payments declined again in December, to $4218 billion from $441 billion in November, according to Trepp LLC It marks the sixth straight...
Private-label CMBS issuance in the United States totaled $56 billion in 2020 That's down nearly 43 percent from the $967 billion of issuance in 2019 JPMorgan Securities was the year's most-active bookrunner, with a 174 percent share of the market It...
Commercial Real Estate Direct Staff Report A stress gauge that Kroll Bond Rating Agency uses for the CMBS sector increased again last month, despite declines in the volume of CMBS loans that are delinquent or in special servicing That gauge, the...
Preferred Apartment Communities Inc has paid $1357 million for two multifamily properties with a combined 613 units in Florida The Atlanta REIT bought the properties, the Menlo in Jacksonville and the Blake in Winter Springs, from their developer,...
