Month: January 2020

(Credit: iStock, Wikipedia) It’s time to share a conference room in the City of Brotherly Love. CBRE’s first co-working location in the Northeast is set to open by the end of the year in Philadelphia. The 50,000-square-foot location at Shorenstein Properties’ 1818 Market building is under CBRE’s Hana brand that the commercial giant launched last…

Crown Prince Sheikh Mohammed bin Zayed Al Nahyan of Abu Dhabi, Softbank CEO Masayoshi Son, and former British Prime Minister Tony Blair (Credit: Getty Images) How much would it cost to build a brand new, 445,000-acre capital city from scratch in the 21st century? Indonesia figures about $34 billion, and the world’s fourth-most populous nation…

Welton Jordan of EAH Housing, and the block in South Park where the nonprofit development organization wants to build a 64-unit complex. (Credit: Google Maps) Few other downtown Los Angeles neighborhoods have undergone as dramatic a transformation as South Park, which has become known for Staples Center and L.A. Live, along with its luxury condos…

Treasury Department watchdog is investigating the Opportunity Zone program (Credit: iStock)   The Treasury Department’s investigation into the Opportunity Zones program will weed out the bad apples but won’t derail the federal tax incentive initiative, investors and developers say. Instead, the probe could provide a way for companies with Opportunity Zone funds to promote the social…

CEO and chairman of Bank OZK, George Gleason Bank OZK, which has been behind some of the largest condo loans in New York and Miami, reported a drop in fourth-quarter net income and reported the rating on one of its loans had been downgraded. The Arkansas-based bank’s stock fell 5 percent shortly after news of…

Here are a couple of real estate events coming up next week: Host: IMN Date: Jan. 22 to Jan. 24 Time: 7:30 a.m. to 12:30 p.m. IMN is hosting its 17th Annual Winter Forum on Real Estate Opportunity & Private Fund Investing at Montage Resort & Spa, 30801 South Coast Highway from Jan. 22 to…

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan Publisher Amir Korangy started The Real Deal out of his Brooklyn apartment nearly two decades ago, shortly before he was joined by Editor-in-Chief Stuart Elliott and Yoav Barilan, who today helps oversee sales operations. The publication was initially…

Knotel CEO Amol Sarva (Credit: iStock) UPDATED, 11:39 a.m.: Knotel laid off as much as a third of its New York market-focused staff, as the company faces high vacancy rates and a drop in leasing activity. Close to 20 people were fired this week from the co-working company’s office at 22 West 38th Street, former…

14518-14526 Erwin Street (Credit: Google Maps) Local firm Crown Royal Developers has filed plans for a 71-unit apartment complex in Van Nuys, with eight units set aside for extremely low-income residents. The Beverly Hills-based company wants to build the 78-foot complex at 14518-14526 Erwin Street, just west of Van Nuys Boulevard, according to plans filed…

Hilton CEO Christopher Nassetta and Arianna Huffington (Credit: Getty Images) Hilton is striving for balance, or at least a better night’s sleep. The hospitality giant is starting the new decade by tapping into the wellness craze with yet another new hotel brand geared toward travelers on a budget and a health regime, according to Phil…