Insurance has always been one of the significant and unavoidable costs involved in commercial property ownership. Owners in areas prone to extreme weather events know their insurance rates are going to be comparatively higher. But something changed several years ago in the commercial property insurance market. In 2017, rates began to go on a steady upswing, and they haven’t stopped....
Housing prices in many cities have become unaffordable for many people. One significant suspect is investors buying homes for renting, limiting availability for first-time homebuyers and increasing real estate prices. Initially, the negative impact of investors was only online rage, but the Netherlands' recent ban on investment rentals allows economists to study its effects empirically.
Whether the real estate market is flying high or plagued by a downturn, there’s a certain prestige to owning a premier Manhattan office tower. And when one of these properties changes hands, it’s always big news in the commercial real estate investment community. Such was the case with the change in ownership of 245 Park Avenue in September 2022. You...
Last month, a study was released that found that the heavy weight of buildings, among other things, is causing New York City to sink at a rate of 1 to 2 millimeters per year. Researchers pointed to several factors that are causing the sinking, including sea level rise and groundwater mismanagement. But it was the weight of the city’s skyscrapers...
Examining the office industry's future amid doomsday predictions: data challenges the severity of the situation. Despite alarming statements, foreclosures remain below 1% and high-profile cases are isolated. With a conservative industry and resilient investors, the sky might not be falling after all.
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