Commercial Observer
New York's authority on commercial real estate leasing, deals and culture.
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Latest posts
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AI’s Payoff for Real Estate Investors Comes From What the Model Can See
Every Monday, Blackstone’s investment committee meets to decide what to buy. Nearly every deal on the agenda now arrives with two memos. One comes from the deal team. The other comes from a model trained on more than 14 years of the firm’s internal deal memos and debates, which…
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CMBS Distress Shifts Away From New York
The national commercial mortgage-backed securities (CMBS) distress rate edged up to 11.2 percent in October compared to 10.9 percent a year earlier. Underscoring this distress is 2400 Market Street in Philadelphia. The building is 99.5 percent occupied, and its largest tenant,…
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Brightshore Capital Buys New Long Island City Multifamily Complex for $150M
Brightshore Capital — the $5.6 billion investment firm formerly known as GTIS Partners — has secured $98.5 million of acquisition financing to purchase DŌMI, a 190-unit mixed-income multifamily complex that was completed last month in Long Island City, Queens, Commercial…
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Where Opportunistic Investment Is Finding Deals in 2026
“For three years, lenders have been willing to extend and play ball with sponsors who are hopeful there’s a brighter day ahead. That era is effectively ending right now.” So said Jacob Feingold, head of originations at Canyon Partners Real Estate. And, with that era ending, the…
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Cushman & Wakefield Rehires Gene Spiegelman as Retail Services Vice Chairman
Gene Spiegelman has rejoined Cushman & Wakefield as vice chairman of retail services, Commercial Observer has learned. The industry veteran arrives with more than three decades of retail real estate experience, including a previous, 18-year tenure as C&W’s vice chairman and head…
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Florida’s Property Tax Cut Proposal Could Boomerang on Commercial Owners
Florida built its reputation on low taxes. The Sunshine State’s constitution famously prohibits a state income tax. The feature has attracted vacationers and retirees — and, more recently, billionaires — helping to transform the state’s once-vast swampland into an economic…
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Sunday Summary: Sweet and Loudoun
It’s extremely possible that if Republicans fall in the Senate this week, the sleeper issue with voters will have been data centers. Like anything in politics, defeat is rarely about a single issue. Open questions like Iran and tariffs and stubbornly high interest rates will all…
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Gencom-Led JV Buys InterContinental in Downtown Miami for $300M
Gencom and White Bridge Capital bought the waterfront InterContinental Miami hotel, paying about $300 million. The 34-story property features 652 rooms at 100 Chopin Plaza, facing Biscayne Bay, right off of Biscayne Boulevard, sitting just south of the Brickell district. The…
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Weil Gotshal’s Collapse Is Perfectly Timed for Manhattan’s Office Market
White-shoe law firm Weil, Gotshal & Manges, which was founded in 1931 and announced its intent to wind down operations this week, currently occupies around 447,000 square feet over 11 floors at BXP’s General Motors Building at 767 Fifth Avenue. BXP owns 60 percent of the…
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Irvine Company Secures $157M Multifamily Refi in L.A.’s Playa Vista
Irvine Company has secured a $157.2 million refinancing loan from Capital One for a 309-unit luxury apartment property in Los Angeles’ Playa Vista neighborhood. The new Fannie Mae loan replaces a previous $136 million loan originated by PGIM, representing a roughly $21 million…
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Grassroots Analytics Doubles D.C. Footprint With 25K-SF Office Lease
Grassroots Analytics has signed a 24,692-square-foot office lease spanning three floors at Arch Square in Downtown Washington, D.C. The company will more than double its footprint in the city as it relocates to 803 Seventh Street NW, a mixed-use property owned by Swiss real…
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Juda Chetrit Seals $55M Recap for 1384 Broadway
Juda Chetrit’s Chetrit Organization has secured a $55 million loan to recapitalize 1384 Broadway, Commercial Observer has learned. Maxim Capital Group provided the loan for the 80 percent occupied office building at Broadway and West 38th Street in Midtown Manhattan, sources…
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Colliers Grows NYC Office, Industrial Leasing Teams With Two New Hires
Colliers is growing its New York City office and industrial leasing teams with two new hires, Commercial Observer has learned. Following a nearly seven-and-a-half-year tenure with Cushman & Wakefield, John Albal has joined Colliers as a senior associate within its Manhattan…
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Is Prop 45 a Quick Fix to California’s Slow Construction Pace?
The Golden State’s perpetual morass when it comes to quick development has been generating all the wrong kinds of headlines. In addition to the growing issues with housing production and affordability, it seems like any megaproject or big idea envisioned for California sinks due…
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Jason Maurer Joins SL Green as Managing Director
Jason Maurer has joined SL Green Realty, Manhattan’s largest office landlord, as a managing director. In his new role, Maurer will oversee retail leasing across the company’s portfolio, as well as lead office leasing for Green Property Services, SL Green’s third-party asset…
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Greystone Refis Hollywood, Fla., Apartments With $109M Loan
A joint venture between BTI Partners and Bridge Investment Group has secured a $109 million of agency debt to refinance a multifamily asset in Hollywood, Fla., Commercial Observer can first report. Greystone supplied the Freddie Mac-backed loan for the sponsorship’s 362-unit…
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Lightstone Capital Provides $29.5M Loan for Orange, N.J., Multifamily Development
Orange, N.J.-based Peek Capital, a division of multifamily developer and operator Peek Properties, has secured a $29.5 million bridge loan on its recently completed multifamily project in Orange known as the Lincoln, Commercial Observer has learned. The bridge loan was provided…
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AJ Capital Partners Lands $52M Refi for Princeton, N.J., Hotel
AJ Capital Partners secured a round of financing for one of its hospitality properties in New Jersey, Commercial Observer has learned. GreenOak (formerly BGO) originated a $52 million loan for the 180-room hotel in Princeton, N.J., known as the Graduate by Hilton Princeton,…
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Financial Tech Platform Intuit Takes 4K SF at the Orchard in LIC
The Orchard, Queens’ tallest residential tower, has signed several new retail leases totaling 7,468 square feet, building owner and developer BLDG Management announced Thursday. In September, financial services platform Intuit, the company behind programs including TurboTax,…
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Miami Gardens Leases Public Land for Proposed Hotel
The city of Miami Gardens, Fla., this week approved a land lease that sets up the development of a 127-room hotel on city-owned land near Hard Rock Stadium. The proposal calls for a 127-room hotel, the Beckham Hotel Miami Gardens, and a parking garage on part of a 3.5-acre…