A report from Yahoo Finance. "In a client note this week titled 'Escape From New York', Jefferies chief market strategist David Zervos described how the coronavirus reversed decades-long trends of high-end gentrification for New York City. 'I'm bullish on the…
A weekend topic starting with the Globe and Mail. "Breather Products Inc., the Montreal startup that raised more than US$150-million to build a global flexible workspace operator, is abandoning hundreds of leases in an effort to reboot the pandemic-stricken company.…
A weekend topic starting with Bloomberg. "Property investors are about to discover just how much the global fallout from the coronavirus pandemic has spread from deserted and cast-off buildings to their bottom lines. In an estimated $10 trillion global pool…
It's Friday desk clearing time for this blogger. "Philanthropist Marcia Riklis is planning to take a hit on the sale of her Upper East Side home. The posh ninth-floor co-op is on the market for $6.35 million. That’s more than…
A report from the Real Deal. "Big money will be deployed into cash-deprived real estate funds. 'We are seeing some investors that are pretty distressed, but if we compare it to previous crises it doesn’t seem to be as widespread,'…
A report from Business Insider on Florida. "Ken Griffin is selling both of his Miami Beach penthouses for at least a 20% loss, Katherine Kallergis reported for the Real Deal. Griffin bought the two Faena House penthouses in 2015. At…
A report from Bisnow on Georgia. "With government support for embattled workers evaporating, apartment rent collections are worsening as the year comes to a close. 'In November, it came crashing. We saw the entire momentum shift,' The RADCO Cos. CEO…
A report from Mansion Global. "New York native David Kramer, president of Hudson Companies. What has the Covid-19 experience been like for the company? It’s a better time to be a buyer than a seller, a tenant than a landlord.…
A report from DS News. "Nearly every metro area in America is experiencing peak seriously delinquent mortgage loans, according to a report from Nationwide economics. Levels are approaching the severity of the 2010 housing bust, economists say. 'The spike in…
A weekend topic starting with KPIX in California. "Rent collection has dropped from 80.4% nationally at this time last year to 75.4% at the start of December. Meanwhile tenants are fleeing urban centers left and right. 'I’ve even seen properties…