AmBase, former investor in 111 West 57th Street, could face ruin

Less than a year after AmBase Corporation lost its stake in the supertall condominium project 111 West 57th Street, the Connecticut-based holding company may be going under. In its latest annual report filed Friday, the company said revenues and cash reserves “may not be sufficient to cover operating cash needs through the 12-month period from[…]

Here are SoFla’s biggest commercial deals

A look into some of South Florida’s biggest commercial deals over the past 12 months shows a majority of the high-dollar deals were struck for multifamily and retail properties. With South Florida’s excess of unsold condos and an increasingly expensive single-family home market, investors are focusing on multifamily properties. And despite the overwhelming number of store[…]

NYC isn’t building enough residential density near transit: report

New York City isn’t taking full advantage of its transit infrastructure when it comes to housing density along transportation routes, according to the Regional Plan Association. Officials in California have proposed a bill to deal with the state’s housing shortage that would require at least eight-story buildings on wide streets that lie within a five-minute[…]

This month in RE history: The Met moves into a new home, David Rockefeller gets OK for One Chase Manhattan Plaza … & more

From the March issue: 1880: The Met’s biggest donation to date — its first building The Metropolitan Museum of Art moved into its current home on Fifth Avenue and 82nd Street 138 years ago this month with, as the New York Times reported, an audience of about 1,000 gathered to witness the new building’s dedication by President[…]

Knotel takes on CoStar with blockchain-based leasing data platform

As if facing off against WeWork in the flexible office market isn’t enough, Knotel is now going after property data behemoth CoStar. The New York-based startup plans to launch an online office listing data platform dubbed KnotelKoin, according to an email the company’s founder Amol Sarva sent to acquaintances and business partners Thursday. The platform[…]