National Cheat Sheet: Industrial rents hit all-time high, homeownership rates increase nationwide … & more

Industrial rents hit an all-time high JLL’s Q2 industrial report shows just how dramatic the impact of retail’s demise and e-commerce’s growth has had on industrial real estate. According to the report, rents in the booming sector rose a record-breaking $5.35 per square foot nationwide. This coincides with a report at CBRE released last month[…]

Westchester & Fairfield Cheat Sheet: Bedford accused of housing discrimination, RXR proposes $300M complex in New Rochelle … & more

Town of Bedford sued for discriminatory housing policies While Westchester County Executive Rob Astorino recently celebrated HUD’s decision to withdraw its claims of exclusionary housing against minorities in the county, public records show that Fair Housing Justice Center filed a federal lawsuit this week, claiming that the town of Bedford is guilty of just that.[…]

Hamptons Cheat Sheet: Good news and bad news in Q2 resi sales report, Stella McCartney pulls rental listing after being outed as owner … & more

Hamptons Q2 residential sales report offers good and bad news A mixed bag is the only way to describe home sales in the Hamptons this year. Second quarter sales numbers dipped in the greater Sag Harbor area, Shelter Island, East Hampton, and Montauk, according to a new report by residential brokerage Town & Country. But[…]

National Cheat Sheet: The Oracle of Omaha gambles on retail, Chinese investment in US industrial sector rises by 540%… & more

Warren Buffett invests in retail’s future This week, Store Capital Corp. revealed that Warren Buffett’s Berkshire Hathaway bought a 9.8 percent stake in the investment trust, which largely specializes in single-tenant retail properties, like chain restaurants, veterinary offices and fitness centers. Buffett paid $377 million for his company’s stake, the Wall Street Journal reported. Store[…]

Westchester & Fairfield Cheat Sheet: Developer selected for $110M New Rochelle tower, 3 tenants back out of Norwalk retail center … & more

Developer selected by New Rochelle for $110M tower MacQuesten Development, LLC of Pelham has been selected by the New Rochelle City Council as the winning bidder to develop a 27-story, $110 million mixed-use building. The proposed project, which includes 282 residential units and 9,500 square feet of retail space as well as a four-story parking[…]

National Cheat Sheet: How Amazon’s Whole Foods deal changes retail, Freddie Mac sells off modified loans … & more

Examining the impact of Amazon’s Whole Foods acquisition The mother of all buyouts went down, and it makes a ton of sense. Amazon’s success, fueled by a market cap of $500 billion, is decimating retail shopping and Whole Foods has been hemorrhaging cash, recently announcing plans to close stores. If Amazon was going to make[…]

Westchester & Fairfield Cheat Sheet

ELD Properties’ 110-unit “Millennia” breaks ground in New Rochelle By naming their 110-unit New Rochelle building “Millennia,” developer ELD Properties, Inc. doesn’t make it too hard to figure out who their target audience is. Featuring a fitness center, shared rooftop patio and flexible office space, the $30 million dollar project, which began construction this week,[…]

National Cheat Sheet: $9.4 billion in commercial loans defaulted in May, industrial market rents surge … & more

Decade-old commercial loans aren’t getting paid Risks that banks and borrowers took in the salad days of 2007 are coming back to haunt them. About $9.4 billion dollars in roughly 790 loans that were due for maturity in May went unpaid, according to the Wall Street Journal. The defaults occurred in part because riskier loans from[…]

Westchester & Fairfield Cheat Sheet: $120M mixed-use project pitched for White Plains, Urstadt Biddle expands investment in Stamford mall … & more

Developers pitch a $120M mixed-use project in White Plains, opposite the Westchester mall Two Westchester Avenue parcels in White Plains may be developed into “The Collection,” a complex containing retail, restaurants, 276 rental apartments and a parking garage. The 3.1-acre plot sits across the street from the Westchester mall. A zoning request, submitted by Saber White[…]

Westchester & Fairfield Cheat Sheet: Equestrian estate asking $21M is up for auction, 900 resi units slated for Mt. Vernon & more

  Greenwich equestrian estate up for auction after being listed for $21M With an asking price of $21 million, the sellers of an equestrian estate at 429 Taconic Road in Greenwich, Connecticut, weren’t horsing around. However, their lofty listing, a 10,000-square-foot, five-bedroom home set on 13 acres, may fail to get that number when it goes[…]