The 2.5-acre vacant lot at 1201 Brickell Bay Drive (in Miami’s Brickell neighborhood) sold on April 20, 2022 for $363 million ($145,200,000/acre), according to Miami-Dade Office of the Property Appraiser. TWJ 1201 LLC, an entity linked to Tibor Hollo’s Florida … Continue reading →
Adaptive reuse is the process of updating an existing structure and adapting it for a new use. In 2020 and 2021, a total of approximately 32,000 converted apartment units were delivered to market, according RentCafe, with Philadelphia and Washington, DC … Continue reading →
Eleven million renter households with extremely low incomes (those with incomes at or below the poverty line or 30 percent of the area median income (“AMI”), whichever is greater) account for 25 percent of all renter households and nine percent … Continue reading →
According to a paper by Gupta, Mittal and Van Nieuwerburgh, the pandemic has had large effects on both current and expected future cash flows for office buildings. Revaluing the stock of New York City commercial office buildings and taking into … Continue reading →
As mortgage demand falls, residential real estate companies are reducing their workforce. Redfin is laying off 470 employees and Compass is shedding 450 jobs (10 percent of its workforce), according to MarketWatch. The Federal Open Market Committee (FOMC) voted this … Continue reading →
Retail, office and industrial sector national asking cap rates fell in the first quarter of 2022 from the previous quarter, according to The Boulder Group. Retail cap rates fell by 13 basis points to 5.75 percent, office cap rates fell … Continue reading →
Retail sales in May fell 0.3 percent from the prior month, according to the Commerce Department. Excluding motor vehicles and parts, the number increased by 0.5 percent. Excluding gasoline stations, sales dropped by 0.7 percent, and excluding motor vehicles, parts … Continue reading →
The U.S. Bureau of Labor Statistics reported today that the producer price index (PPI) climbed 10.8 percent (unadjusted) for the twelve months that ended in May. On a monthly basis, the PPI for final demand increased by 0.8 percent in … Continue reading →
Walmart wants to drive more sales of higher-margin items such as apparel, according to CNBC. As such, it is designing stores that highlight general merchandise and it has partnered with companies like Reebok, BCBG Paris, Gap and Justice to expand … Continue reading →
The “all items” Consumer Price Index (“CPI”) increased at an annual pace of 8.6 percent for the twelve months ending May, according to the U.S. Department of Labor’s June 10 BLS report. This mark’s the largest 12-month increase since the … Continue reading →