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August 12, 2024

Rialto, Blackstone Ramp Up Pursuit Of Delinquent Signature Bank Borrowers

Since taking over Signature Bank’s $17B commercial real estate loan book last year from the Federal Deposit Insurance Corp., the joint venture helmed by Blackstone and Rialto Capital has stepped up the pressure on borrowers in default.

Rialto, Blackstone Ramp Up Foreclosure Suits On Signature Bank's Former Borrowers

In the past month, the joint venture has hit at least three different New York City property owners with foreclosure suits at four properties tied to loans totaling more than $200M. The properties include commercial condominiums and a landmarked Midtown office tower.Blackstone and the Canada Pension Plan…

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Inside Trump’s Deep Base Of Support Among Real Estate Executives

With the presidential election now less than three months away, many commercial real estate executives are rallying around one of their own. 

Former President Donald Trump, who still owns a large property portfolio through The Trump Organization, is seen by many in the industry as the best option to help supercharge the economy and lift the commercial real estate market out of its recent doldrums.

Inside Trump’s Deep Base Of Support Among Real Estate Executives

Trump has raised far more money from the real estate industry at this point of the election cycle than his opponents have, according to campaign finance tracker OpenSecrets. Real estate donors had given $5.3M to Trump's campaign as of the end of June, compared to $3.8M to President Joe…

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ADUs Could Help New York’s Housing Crisis. Will A NIMBY Backlash Prevent Progress?

ADUs Could Help New York’s Housing Crisis. Will A NIMBY Backlash Prevent Progress?  

As New Yorkers mull proposed zoning changes aimed at easing the city’s housing crisis, one type of residential unit is becoming a flash point.

Earlier this week, Mayor Eric Adams announced a $4M funding commitment for accessory dwelling units, which are second independent units on the same property as a primary home. While the city received more than 2,000 applications to be part of a pilot program launched six months ago,…

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NYC Apartments Are Shrinking As New Construction Brings More Inventory

NYC Apartments Are Shrinking As New Construction Brings More Inventory  

A wave of smaller apartments is hitting the market in New York City, bringing average rents down a bit last month amid an affordability crisis. 

But price per square foot is still on the rise, according to new data provided to Bisnow by Miller Samuel. 

“You're getting less for your money is the way to look at it,” Miller Samuel CEO Jonathan Miller said.  In Brooklyn, where the average apartment is 969 SF, overall square footage has dropped 7% from last year. In Queens, it is down nearly 15% to an average of…

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