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MARCH 20, 2019

Top Story

Office

Chrysler Building Price Tag Should Not Be Taken as a Sign of Falling Manhattan Values

By Sebastian Obando, Staff Writer

The Chrysler building sale, which was announced earlier this month, offers a limited read on property valuations in the larger Manhattan  office market, according to industry experts. “First was its status as a historical landmark, which adds some hurdles to conducting renovations on the space. Second, is the ground lease for the building, which recently ratcheted higher and is slated to increase further in the future,” says Chris Muoio, senior quantitative strategist at Ten-X Commercial, an online real estate marketplace. “These, combined with more modern space in Hudson Yards coming on-line, created a uniquely weak pricing environment.”

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Analysis

Multifamily

Oregon Rent Control Law Worries Multifamily Sector Experts

By Bendix Anderson, Contributing Writer

A new rent control law recently passed by the state of Oregon may be just the beginning of a trend. In several other states and cities, advocates are calling for new rent control regulations. Real estate experts say that Oregon’s new law is relatively limited in scope. It allows rents to increase fairly quickly and does not immediately affect new construction.

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Sponsored Content

Has the Property Management Industry Prepared the Next Generation?

Sponsored by IREM

IREM and other organizations are making efforts to spread the good news of a career in property management.

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NREI Wire

Neiman Marcus-Marble Ridge Debt Spat Becomes Dogfight

Bloomberg

A Texas state court judge will have to rule on a dispute between Neiman Marcus and its hedge fund creditor over the retailer’s reshuffling of assets.

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After Outcry, Hudson Yards’ Vessel Is Changing Its Photo Policy

Bloomberg

The Related Cos. will have the rights to any photos or video footage taken inside “The Vessel.”

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10 Must Reads for the CRE Industry Today

By NREI Staff

A 46-story tower of retail, entertainment and accommodation, with a giant LED billboard on one side, is set to open in early 2022 in Times Square, reports CNBC. Real estate services firm Jll will acquire capital markets services provider HFF, in a cash and stock transaction valued at approximately $2 billion, announced the two firms. These are among today’s must reads from around the commercial real estate industry.

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