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.
Economy Watch: Multifamily Starts Above Pre-Recession Levels
Within total residential starts, multifamily was up, coming in at 341,000 units started on an annualized basis.
Economy Watch: No Change for Interest Rates. Yet.
As expected, the Federal Open Market Committee decided not to adjust interest rates during its latest meeting this week.
Economy Watch: Retail Sales Down Slightly for the Month, Still Strong Compared With Last Year
Retail sales edged down by 0.1 percent in February.
Economy Watch: U.S. Engine for World Economy, Domestic Real Estate Benefits
Much of the world’s economy is troubled, or at least weaker than it has been recently, yet the U.S. economy continues to be one of the bright spots worldwide.