NEWS HIGHLIGHTS

Selection of Recent News Highlights

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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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Commercial Observer

Terrorism Risk Insurance Act Remains Long-Lasting Impact of 9/11 on Real Estate

Andrew Coen

The Terrorism Risk Insurance Act has provided the commercial real estate industry with a crucial backstop against losses suffered from external threats in the nearly two decades since its enactment following the terrorist attacks of September 11, 2001.

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New York Times

Delta Variant Casts a Shadow Over Midtown Manhattan’s Shaky Recovery

Jane Margolies

Midtown Manhattan, which has been in the doldrums for much of the pandemic, has finally begun showing signs of life. But that progress may be threatened by the surge in coronavirus cases from the spread of the Delta variant.

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Politico

How New York City Messed Up Its Mayoral Election

Ryan Heath

When Nightly contacted each of the top candidates, not one of them had a plan for telling their voters how to rank the rest of the candidates on their ballots. Sure, Andrew Yang has been saying for months that he would rank Kathryn Garcia second, and he urged his supporters to do so at a weekend rally — but he failed to even update his website with the instruction.

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The Real Deal

New York is at an Affordable Housing Crossroad

Last month, the state’s new $212 billion budget set aside $100 million toward turning commercial properties into permanent affordable housing. That potentially paves the way for a measure introduced by Sen. Michael Gianaris allowing the state to acquire and convert distressed hotels and offices into housing for homeless New Yorkers and those earning up to 50 percent of the area median income .

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Gothamist

Vacant Storefronts Proliferate, And It’s No Easier To Identify Owners

Beth Fertig

Taking a walk along Third Avenue in the 80s and 90s near his home, City Councilman Ben Kallos points to one empty storefront after another and recalls some of his favorite Upper East Side shops and restaurants.

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Commercial Property Executive

REIT Leaders Speak Out at NYU Conference

Paul Rosta

During Schack's 25th REIT Symposium, Debra Cafaro, Hamid Moghadam, Barry Sternlicht and Sam Zell offered thought-provoking insights on today’s most pressing topics: prospects for the economy, the impact of the pandemic, and what’s ahead for major asset categories.

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The Real Deal

Real Estate Sounds Off On State’s $4.3 Billion Tax Hike

Kathryn Brenzel, Akiko Matsuda, and Erin Hudson

Some real estate professionals and economists fear that $4.3 billion in tax increases, on top of the shift to remote work, might just push some over the edge.

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Real Estate Weekly

Getting Woke in the City That Never Sleeps

Arthur Schurr

A company that does not implement a diversity program with real initiatives and real results will soon find itself unable to compete. The real estate and construction industries are notoriously resistant to change, but that is finally shifting on many fronts.

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The Real Deal

New York City Real Estate Industry Escaped Huge Job Losses

Rich Bockmann

New York City real estate avoided some of the deepest cuts seen during a year of record job losses across most industries. Despite challenges like a temporary ban on in-person property showings and the spring shutdown’s outsized damage to retail and hospitality, the city’s real estate job cuts were mild compared to its broader workforce.

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Commercial Observer

Real Estate Playing Catchup on Diversity

Andrew Coen

Commercial real estate firms are taking key steps to tackle diversity initiatives, but many more forward strides are needed in order to bring the industry up to the standards of other professional business fields.

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The Real Deal

Developers Say Stringer’s Housing Plan Doesn’t Pencil Out

Kathryn Brenzel

Mayoral hopeful Scott Stringer wants to require all residential projects to include affordable housing — but some developers say his numbers don’t add up.

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Wealth Management Magazine

NCREIF's Real Estate Indexes Seek to Provide Clarity Amid Complex Market Conditions

Beth Mattson-Teig

New NCREIF data for commercial real estate performance in 2020 underscores what industry participants had anticipated—it was a tough year for appreciation and income.

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Financial Times

Black Former NFL Athlete Joins Elite Club of New York City Property Developers

Joshua Chaffin

“Black developers and minority developers are significantly under-represented in the real estate community,” said Sam Chandan, the dean of the Schack Institute at New York University, who has been a champion for greater diversity in the industry.

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