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Real previews new artificial intelligence assistant for agents

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Real previews new artificial intelligence assistant for agents

The new product is called HeyLeo and shows how a phone-based tool could help agents generate new business.

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Ebonie Beaco

Real Estate Financing Strategies for Homeowners & Investors

Stay informed with expert insights on HELOC loans, cash-out refinancing, DSCR investor loans, fix and flip financing, and real estate investment strategies.

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Manhattan’s Tech Sector Notched a Record Number of Lease Deals in 2025

Manhattan’s technology sector in 2025 increased its office footprint by 6.54 million square feet, according to a new office leasing report from Colliers. The year was second only to 2019 in terms of new square footage, but its count of 235 lease deals shattered a 2019 record by 80 transactions. “There were more transactions in…

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Industrious to Open 28K-SF Coworking Space at Global Holdings’ 875 Third Avenue

Eyal Ofer’s Global Holdings Management and coworking firm Industrious have forged a new partnership for a space at 875 Third Avenue in Midtown East, Commercial Observer has learned. The new flexible workspace will span 28,000 square feet on the sixth and seventh floors of the building as Industrious continues its rapid expansion across Manhattan. The…

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Hasbro Leases 31K Square Feet of Office Space at Hollywood Campus

Games and IP company Hasbro has signed a long-term lease at a historic entertainment production campus tied to some of the original leaders in the Hollywood film and television industry. The new tenant — which makes video games, toys and other licensed consumer products — will take 31,435 square feet at The Lot at Formosa…

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Mortgage Rates Edge Just Barely Lower

One popular refrain in the mortgage industry is that rates take the escalator on the way up and the stairs on the way down. Yesterday was definitely an “escalator” sort of day with the average lender moving up 0.12% for a top-tier 30yr fixed rate. Based on improvement in the bond market, rates are lower…

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Philadelphia BIA Member Shifts How Local Community Views the Trades

For Jordan Parisse-Ferrarini, a member of the Building Industry Association of Philadelphia, a career that began with his family’s small business and tools from a pawn shop has flourished into multiple companies, numerous advisory roles and a passion for developing the next generation of skilled trades professionals.

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Redfin Economists’ Weekly Take: Volatile Rates Ahead as Fed Turns Hawkish and Energy Shock Builds

This Week In A Nutshell: Rates are likely to remain volatile this week. Markets are balancing a still-solid economy against the worsening energy shock, a more hawkish Fed, and Friday’s jobs report. Upcoming Attractions   The key economic data release this week will be Friday’s April jobs report. Job growth is expected to slow from…

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Trinity and Sculptor Buy Oceanfront Resort on Florida’s Gulf Coast for $835M

Trinity Investments and Sculptor Real Estate have closed their $835 million acquisition of an oceanfront resort along Florida’s Gulf Coast, financed with $690 million in commercial mortgage-backed securities (CMBS).  Called JW Marriott Marco Island Beach Resort, the property includes 809 hotel rooms across three buildings on a 27-acre oceanfront site at 400 South Collier Boulevard…

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Sea Fire Grill Relocating to 12K-SF Restaurant Space at 216 East 49th Street

The Sea Fire Grill is relocating within Midtown East with a massive new restaurant lease. Operated by Benjamin Restaurant Group and led by Executive Chef Arturo McLeod, seafood eatery Sea Fire Grill signed a 12,000-square-foot lease at Shaban Sinanaj’s five-story building at 216 East 49th Street, the New York Post first reported. Sea Fire Grill…

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Westbridge Realty Files Plans for 99-Unit Residential Building in Washington Heights

New York-based real estate investment and development group Westbridge Realty Group has filed plans to build a 99-unit residential property at 4388 Broadway in Washington Heights, Manhattan, according to a recent filing with the New York City Department of Buildings.  If approved, the plans, which were filed on April 28, show the 67,048-square-foot project will…

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Intuit TurboTax Signs 2.5K-SF Retail Lease at One Willoughby Square

JEMB Realty‘s One Willoughby Square in Downtown Brooklyn has landed Intuit TurboTax as its newest retail tenant.  The financial services company signed a long-term lease for approximately 2,500 square feet on the 35-story tower’s ground floor, according to the landlord. The office tower’s retail storefront sits along Albee Square West between Willoughby and Fulton streets…

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Sunday Summary: Goodbye, Gotham? (Let’s Hope Not)

Mets fans have spent the last three weeks in a state of shock and despair as we’ve watched the second-highest payroll in baseball digress into the single worst record in the majors as of Friday. It has led some of us to reconsider past loyalties. Why stick with a team when it gives you nothing…

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AI Firm Sierra Signs 94K-SF Deal at Rockrose’s 11 East 26th Street

An artificial intelligence firm that provides businesses with customer support is opening offices in Midtown South. After announcing in May 2025 that it would establish a New York City presence, Sierra has signed a 94,145-square-foot lease at Rockrose Development’s 11 East 26th Street, according to a monthly Manhattan office report from Colliers. The deal represents…

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Advanced Real Estate Buys Two of Hollywood’s Five Apartment Towers

Two multifamily towers in Hollywood, Calif., have traded hands as the construction pipeline remains at historic lows. Kilroy Realty, a Los Angeles-based real estate investment trust, sold the two developments with a combined 393 units for $202 million in what is said to be the largest multifamily deal so far this year in Southern California.…

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Jump Trading Inks 99K SF at Related Companies’ 50 Hudson Yards

Trading firm Jump Trading has secured a new office space at Related Companies’ 50 Hudson Yards in Manhattan, according to Colliers’ April office leasing report. Jump Trading, founded in 1999, specializes in algorithmic and high-frequency trading across global financial markets. Its new Hudson Yards lease spans 99,305 square feet.  The deal marks Jump Trading’s 13th…

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Events Company Skylight Expands By 11K SF at Two Trees’ Refinery at Domino

Two Trees Management has achieved 90 percent occupancy at The Refinery at Domino in Williamsburg, Brooklyn, following two new deals signed in late April, Commercial Observer has learned.  The Brooklyn-based real estate development firm secured a lease expansion for event space operator Skylight, which added 11,000 square feet to its existing footprint at the property.…

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San Francisco’s Luxury Home Sales Jump 22% As Median Price Nears $7M

Luxury home sales are surging in San Francisco, the epicenter of the AI boom, pushing the median sale price to the highest March level on record.  Tight supply is another factor pushing up San Francisco’s luxury prices; active listings are down roughly 15% year over year.  San Francisco’s luxury housing market is greatly outperforming the…

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Steve Madden Inks 60K-SF Office Lease at ESRT’s 501 Seventh Avenue

Shoe and accessories retailer Steve Madden has signed a 13-year, 60,003-square-foot office lease at Empire State Realty Trust (ESRT)’s 501 Seventh Avenue in Midtown, the landlord announced in its first-quarter earnings report Thursday. Asking rent was in the low $60s per square foot. The deal represents an office relocation for Steve Madden, which currently has…

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Current Industry News

ESRT Reports Strong Balance Sheet Despite Temporary Headwinds in Q1

Empire State Realty Trust (ESRT) enjoyed its 19th straight quarter of positive leasing spreads in the first quarter of 2026, as pricing power increased despite market headwinds.  The real estate investment trust (REIT) reported higher-than-expected revenues of $190.3 million in the first three months of 2026, its first quarter since consolidating its entire portfolio to…

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Current Industry News

Global Holdings, MAG Partners to Develop 149-Unit Resi Tower in Hudson Square

Global Holdings and MAG Partners have formed a joint venture to develop a new, ground-up residential tower at 122 Varick Street in Hudson Square under a long-term ground lease with Trinity Church, Commercial Observer has learned. Kevin Donner from Cushman & Wakefield represented Trinity Church on the ground lease portion of the deal.  The new,…

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Retired CIM Group CEO Charles Garner Dies at 63

Charles Garner, former CEO and principal of investments at CIM Group, has died at the age of 63, according to sources close to the family. Garner died while in Santa Rosa Beach, Fla., where he had been living since his retirement in 2019, according to an announcement. The announcement did not list a cause of…

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Equinix Sets More Records with Big Q1, Raises Outlook on AI Momentum

The world’s largest digital real estate investment trust accelerated into 2026, fueled by an insatiable appetite for artificial intelligence and cloud infrastructure. Extending the momentum from a record-setting 2025, Equinix, the Redwood City, Calif.-based data center development firm, reported more leasing and higher revenue growth thanks to the largest first-quarter annualized gross bookings in company…

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Current Industry News

Quantum Physical Therapy Takes 4K SF at Procida Companies’ 589 Christopher Avenue

Medical center chain Quantum Physical Therapy & Chiropractic Care has decided to take a crack at Procida Companies’ 589 Christopher Avenue in Brownsville, Brooklyn, Commercial Observer has learned.  Quantum’s 4,212-square-foot lease sits at the base of Procida’s Ebenezer Plaza, a recently constructed housing complex. The Bronx-based Procida, a family-owned real estate developer and construction firm,…

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Mortgage Rates Surge Higher as US Considers a Longer Blockade

Mortgage rates jumped higher today at the fastest pace in weeks to the highest levels since March 30th. There were two key motivations for the increase, but one accounted for a vast majority of the damage. News came out overnight that spoke to the possibility of a prolonged blockade of the Strait of Hormuz. Markets…

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Current Industry News

Fed Holds Rates Steady, But Rare Dissents Signal Cloudy Outlook For Future Path

The Federal Reserve held interest rates steady at its April 29 meeting.  Takeaway: Mortgage rates may rise slightly as Jerome Powell’s last Fed meeting as chair ended with some fireworks. The Board signaled an unusual amount of division over the future path of interest rates and, in a historically unprecedented move, Powell announced his decision…

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‘Deliver The Kind of Service People Remember and Trust’: How Maryam Amiri Became The First Redfin Agent to Sell $1 Billion Worth of Homes

In 2001, Maryam Amiri immigrated to the United States from Iran. Twenty-five years later, she became the first Redfin agent to hit $1 billion in career sales volume.  “At a certain point, it became less about the number and more about what it represented: consistency, trust and the ability to serve a large number of…

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Multifamily Giant AvalonBay Credits Healthy Q1 to National Trends

Multifamily giant AvalonBay beat analysts’ expectations in the first quarter of 2026 regarding a key profitability metric, crediting strong tailwinds from both the asset class and the wider financial reality on the ground for the nation’s renters.  The Alexandria, Va.-based real estate investment trust (REIT), which says it owns 98,694 apartments nationwide, recorded $398.7 million,…

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Current Industry News

Vornado Buying 49% Stake in Fisher Brothers’ Park Avenue Plaza

Vornado Realty Trust is acquiring Zhang Xin’s 49 percent stake in Park Avenue Plaza, sources familiar with the transaction told Commercial Observer.  Majority owner Fisher Brothers is remaining in the deal.   The property has a current valuation of $1.1 billion, and the transaction includes the assumption of roughly $570 million in debt, sources said.  Newmark’s…

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Current Industry News

NAHB Applauds HUD and USDA Action to Roll Back Costly Energy Mandate

NAHB Chairman Bill Owens issued the following statement after the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA) announcement today to rescind the rule that would impose the 2021 International Energy Conservation Code (IECC) and ASHRAE 90.1-2019 as the minimum energy-efficiency standards for certain single-family and multifamily housing programs.

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Current Industry News

Mortgage Rates Rise to 2-Week Highs

Mortgage rates moved moderately higher today for the average lender, but not for any exciting reasons. Rather, the change has more to do with timing of the underlying market movement. While it’s true that mortgage rates are directly influenced by the bond market, mortgage lenders prefer to set rates once per day. From there, they…

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