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NEWS HIGHLIGHTS

Selection of Recent News Highlights

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The Real Deal

Banks Cutting Losses on Distressed Office Loans

Suzannah Cavanaugh

Banks that long delayed writing down distressed property debt, favoring an extend-and-pretend approach in the hopes of a turnaround by the struggling asset, are abandoning that strategy, preferring to rip off the Band-Aid instead.

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Channel News Asia

Any failure to increase the debt ceiling would plunge the global economy into recession: Analyst

Henry Yin

CNA's Henry Yin discusses the global implications of the US debt ceiling crisis with NYU Stern School of Business Professor Sam Chandan. He believes that a compromise between the Democrats and Republicans would be the only solution to the ongoing crisis and that any kind of default would result in a significant erosion of credibility for the world's number one economy.

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Commercial Observer

Fed Signals End to Rate Hike Cycle Following 10th Straight Increase

Andrew Coen

The Federal Reserve continued its more than yearlong streak of interest rate hikes on Wednesday, bringing rates to their highest level since 2007, but also signaled a pause could be around the corner.

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The Real Deal

First Republic’s failure leaves “gaping hole” in market

Isabella Farr & Suzannah Cavanaugh

Insiders forecast what’s next for real estate borrowers and lenders, given recent baking failures.

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Wall Street Journal

Your Money Briefing Podcast: How to Avoid the Most Common Mistakes Made by Homebuyers

J.R. Whalen

From not having your finances in order to rushing through the inspection process, common mistakes made by homebuyers can derail the path to owning your dream home. On the fourth installment of WSJ’s special series “Under Contract: Your Guide to Home Buying,” Sam Chandan of New York University’s Chen Institute for Real Estate Finance joins host J.R. Whalen to discuss.

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The Real Deal

Back to the ’90s to understand office distress

Suzannah Cavanaugh

TRD’s “Deconstruct” podcast puts rocky CRE market in historical context.

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Commercial Observer

Why the Spotlight on First Republic? Bank’s Exposure to Tech, CRE Causes Concern

Brian Pascus

Following the collapse of two regional banks — including Signature Bank, one of New York City’s most active commercial real estate lenders — the market is abuzz with speculation around the health of other financiers, and First Republic Bank is top of mind.

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The Wall Street Journal

Is Now a Good Time to Sell Your Home?

Veronica Dagher

The housing market still favors sellers, but buyers are more price-conscious than a year ago, real-estate agents say.

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REBusinessOnline

Arbor Report Finds Rental Housing Insulated from Economic Contraction, Risk Factors Endure

Sam Chandan & Ivan Kaufman

Excerpt from the Arbor Realty Trust Special Report Spring 2023: Navigating a Corrective Environment.

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Channel News Asia

Very real danger that the markets are misreading the messaging from the Fed: Economist

Avril Hong

The Federal Reserve announced its smallest interest rate hike in a year, but stressed that the battle against inflation is not over. CNA’s Avril Hong spoke to Sam Chandan, Professor of Finance at the NYU Stern School of Business, to get his take on the US central bank's policy path.

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Commercial Observer

CRE Experts Give Their 2023 Predictions

Emily Fu

2023 could be a pivotal year for commercial real estate — basically because of what happened last year.

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Commercial Observer

Fed Closes 2022 With Seventh Rate Hike Leaving CRE in Limbo for 2023

Andrew Coen

Commercial real estate financiers and borrowers alike remain in flux after the Federal Reserve closed its 2022 calendar with the year’s seventh interest rate hike, and no clear sign of the hikes letting up in early 2023.

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Commercial Observer

Young Commercial Real Estate Brokers Feel the Burn of Layoffs, Pandemic

Celia Young

Amid layoffs and a worsening economic climate, the herd of commercial real estate brokers is thinning.

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BisNow

CRE Job And Hiring Outlook: 2019-2022

Elizabeth Reyn

SelectLeaders has produced a job barometer for the commercial real estate industry to illustrate the performance of the job market and how it is shaped by external events.

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BisNow

Inherently Suspect’: Why Is Dual Agency Everywhere In U.S. CRE When It's Banned In The UK?

Miriam Hall, Molly Armbrister

An analysis of dual agency in the CRE market.

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Commercial Observer

NYU Stern Establishes Chao-Hon Chen Institute for Global Real Estate Finance

Emily Fu

New York University’s Stern School of Business has formed a new real estate finance institute — the Chao-Hon Chen Institute for Global Real Estate Finance — with a $20 million gift from alumnus and Stern Executive Board member Charles C.Y. Chen.

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Morning Brew

Go with the Flow: Adam Neumann’s latest billion-dollar idea

Ashwin Rodrigues

Andreessen Horowitz bets $350 million on Adam Neumann's latest venture.

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AXIOS

Why the rental housing market is so deeply broken

Felix Salmon

America's housing market is broken, but the deep and structural problems can't be fixed with technology.

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Commercial Observer

Fourth Rate Hike This Year, But Powell Says We’re Not in a Recession

Emily Fu

The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday as it attempts to tame prices without causing a severe downturn.

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Commercial Observer

Real Estate Pride Council Launch Charts New Opportunities for LGBTQ in CRE

Andrew Coen

Sam Chandan launched the Real Estate Pride Council with the goal of enhancing networking opportunities for LGBTQ individuals in the commercial real estate profession, and he hopes the group can foster positive change for the industry.

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Commercial Observer

Fed’s Biggest Interest Rate Hike in Decades Removes Some Uncertainty Facing CRE

Andrew Coen

The Federal Reserve’s historic move raising its benchmark interest rate by 75 basis points to combat inflationary pressures provides a necessary level of certainty to a commercial real estate industry that has been battling volatile market conditions in 2022.

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Commercial Observer

Five Questions With NYU’s Sam Chandan at CREFC 2022

Emily Fu

Sam Chandan answers questions about CREFC, the economy, and New York City real estate at CREFC 2022.

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GlobeSt

Real Estate Degrees: Necessary or Just Dressing?

Erik Sherman

What are the potential benefits of getting a degree in real estate for a career in real estate?

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BBC

The New Yorkers in crisis over skyrocketing rents

Bryan Lufkin

In major cities across the globe, including New York City, rent prices have gone through the roof. It’s putting the squeeze on some renters in unmanageable ways.

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Morning Brew

Crypto-backed mortgages let HODLers become homeowners

Ashwin Rodrigues

Looking at the future potential of cyrpto-backed mortgages and the risks involved.

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BisNow

'Wake-Up Call': Real Estate Leaders Say Subway Shooting Must Sharpen Focus On Public Safety

Miriam Hall

Discussing the decline of the subway as a reliable and safe function of New York City life, with comments from the city’s real estate and business leaders.

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Commercial Observer

Fear of Decades-High Inflation Has CRE Scrambling to Predict the Fallout

Patrick Sisson

An in depth analysis of how record high inflation numbers impact commercial real estate.

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The Real Deal

Sam Chandan Joins NYU Stern From Schack Institute

Keith Larsen

Sam Chandan is stepping down from his position as dean of the Schack Institute at NYU’s School of Professional Studies. But he won’t be going far. Chandan is joining the faculty of NYU Stern School of Business to head the school’s real estate programs.

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Wall Street Journal

Big Bet on Offices and Retail Faces Pandemic Test

Konrad Putzier and Peter Grant

Fate of iconic towers owned by developer and partners will shed light on future of city-center properties

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Real Estate by RIS Media

Millennials, Remote Work are Upending Cities

Jesse Williams

Location is, and has always been, everything in real estate. The truism that where a property sits must be its most important characteristic remains undisputed. But what is location, really? What does it mean to homebuyers, and what are the consequences when changes come?

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Wall Street Journal

What Went Wrong With Zillow?

Will Parker and Konrad Putzier

When executives at Zillow Group Inc. pored over the company’s earnings in the spring, they saw a problem: The real-estate firm was making too much money. Zillow, which rose to prominence with online listings, had bet its future on an algorithm-based home-flipping outfit called Zillow Offers, which would buy houses, make minor renovations and sell quickly.

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Commercial Observer

Finance Professionals Bullish on 2022

Andrew Coen

The glass is seemingly mostly half full for commercial real estate lenders and brokers at the end of 2021 with an overarching belief there are tailwinds at the industry’s back heading into next year.

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Commercial Observer

Manhattan West a Test of Midtown South’s Resiliency

Andrew Coen

The long-awaited opening of Brookfield Properties’ Manhattan West development coincides with unexpected hurdles from when the project was first conceived that will truly test the historic reliability of Midtown South’s Far West Side commercial real estate sector.

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Commercial Observer

Evergrande Collapse Unlikely to Impact US Real Estate Market, But Might Have Some Upside

Lauren Elkies Schram

American commercial real estate should feel little effect from the collapse of China’s second-largest developer — in fact, there might be upside.

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Wealth Management Real Estate

Research Shows REITs Outperformed Private Equity Real Estate Funds

Beth Mattson-Tieg

Which performs better, public REITs or private equity real estate (PERE) funds? That debate has been ongoing in the real estate investment industry for years, and a new comprehensive research analysis points to listed REITs as the clear winner.

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