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SF law would lower affordable housing requirements for smaller projects

A pending law in San Francisco could pave the way for up to 800 homes. The Board of Supervisors will consider an ordinance that would extend incentives for a wider base of housing projects that could “unstick” hundreds of homes in the city’s development pipeline, the San Francisco Business Times reported. The board planned to […]

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Target closing handful of stores due to theft

Citing concerns for the safety of employees and customers, Target decided to close nine stores across the country. The move will hit stores in four states, the big-box retailer announced Wednesday. Three of the stores are in Portland, Oregon, three in California’s Bay Area, two in the Seattle market and one in East Harlem in […]

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Estate planning? Jamie LeFrak secures lot split to build waterfront homes for his kids

Jamie LeFrak is like a lot of parents. The LeFrak Organization vice chairman wants to keep his kids close.  LeFrak bought waterfront residential land in Miami Beach last year with the idea of building homes for each of his four children, he said at a city meeting this week.  It’s unclear exactly when he would […]

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Extell adds 30% more rooms to Midtown hotel project

Gary Barnett’s Extell Development wants to squeeze more juice from a development site in Midtown, at the northwest corner of West 54th Street and Seventh Avenue, by adding more than 100 new units to a proposed 40-story tower. The developer plans to build 512 units from 180,000 square feet of residential space at 201 West […]

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Fern Hill pitches colorful 36-story Old Town housing tower

Fern Hill aims to deliver some eye candy to the North Side’s Old Town area with a colorful apartment tower. The firm, led by former Related Midwest executive Nick Anderson, has unveiled plans for a 36-story, 500-unit development at 1600 North LaSalle Drive, near the city’s largest park and Lake Michigan, Crain’s reported.  The project, […]

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EQT Exeter pays over $225M for seven-building warehouse portfolio 

EQT Exeter dropped $225 million on a seven-building industrial portfolio concentrated in a southwest Chicago suburb. The firm, which is part of Swedish private equity firm EQT Group, picked up 3.8 million square feet in assets, comprised of four buildings in Joliet, and others outside Illinois, including in Mississippi and Kentucky, CoStar reported. The seller […]

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NY looks for projects for shuttered Chelsea prison

New York is looking for a new plan for an old Chelsea prison.  The Empire State Development Corporation released a request for proposals this week for the Bayview Correctional Facility. The prison, located at 550 West 20th Street near 11th Avenue, closed in 2012.  Officials said in a July 2022 letter to local lawmakers they […]

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Sherwood Partners buys original Northrop HQ in Hawthorne out of bankruptcy

Sherwood Real Estate Partners has bought the original headquarters of defense manufacturer Northrop through a bankruptcy proceeding.  Santa Monica-based Sherwood and its partners, the Urban Investment Research Corporation and hedge fund Farallon Capital Management, acquired the 40,000-square-foot hangar and office building at 3507 Jack Northrop Avenue for $13.4 million, according to an announcement this week […]

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Record deal: Monarch, Tourmaline buying 801 Brickell for roughly $250M

Monarch Alternative Capital and Tourmaline Capital Partners are buying the 801 Brickell office tower in Miami for about $250 million, The Real Deal has learned.  If the deal closes at this price, it would mark a record for a South Florida office investment this year. Monarch and Tourmaline are buying the 28-story building at 801 […]

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Memo warned NAR of misconduct claims ahead of sexual harassment suit

The National Association of Realtors received a warning of improper behavior well before this summer’s scandal exploded for the trade group. A leaked memo obtained by Inman details some examples centered on then president-elect Kenny Parcell, echoing the harassment and discrimination accusations that preceded his recent resignation. The memo was sent to NAR’s head of […]

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