Economy Watch: Data Shows Middling Growth For Economy
Despite fears that the economy is headed for a 2016 recession, the pattern of growth remains middling, not overly sluggish.
Prudential Predicts Real Estate Opportunity From Graying Population
Demand for new senior housing units in the United States is expected to increase by 75 percent from 2010 to 2030.
Architectural Billings Eke Out Gain in February
The American Institute of Architect’s Architecture Billings Index, which dipped into negative territory for the first time in five months in January, inched back up in February with a small increase in demand for design services.
City Council Approves de Blasio’s Affordable Housing Programs
The NYC City Council approved two major components of Mayor de Blasio’s affordable housing plan with the passing of the MIH and ZQA programs.
Movement for Higher Minimum Wage Will Cost Industrial Space Users
Rising minimum wage levels across the U.S. could prove costly to industrial building tenants.
Economy Watch: Tech-Heavy CRE Markets at Risk of Slowdown
The tech boom since end of the recession has been manna for a number of commercial real estate markets, but can it last in the face of recent jitters about the future of the economy and softness in some tech sectors?
Market Pulse for April 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: In January 2016, housing starts of buildings with five or more units fell. This is the second consecutive monthly decline. Over the month of January, housing starts of buildings with five or more units, measured at a seasonally adjusted annual rate, declined by 2.5 percent to 354,000. Over the past two months, these housing starts have decreased by 7.8 percent. Since reaching 455,000 units in September, housing starts of buildings with five or more units have averaged 361,000 over the months of October 2015 to January 2016….
Top 10 NYC Multifamily Sales in February 2016
February’s recorded sales show a strong demand for multifamily apartment buildings in New York. Manhattan led the pack, with multiple package deals that could promise exciting new redevelopments. Brooklyn, Queens and even the Bronx make appearances, too. Check out the most expensive transactions, and the latest data from PropertyShark. 1. 420-423 E. 54 St., Manhattan Sale Price: $390,000,000 Buyer: River Tower Owner, LLC Seller: EQR-River Tower A, LLC East Midtown’s RiverTower building tops February’s recorded sales at a healthy $390M. While it sold at significantly less than was predicted by The Real Deal, Sam Zell’s Equity Residential was rumored…
Consumers Seem a Little More Wary, But Might Still Spend
Consumers are a little more skittish now than during most of last year.