Commercial Real Estate

7-state mega MLS ditches alphabet soup, rebrands as ‘Prime’

CEO Chad Jacobson: “Our name no longer ties us to a geographic location, but instead embodies our desire to be the best at what we do.”  

KC Conway on a big banking risk that has flown under the radar

Hundreds of banks are exposed to large concentrations of commercial real estate — and high levels of risk, Red Shoe Economics’ K.C. Conway, a seasoned Federal Reserve veteran, told Intel.  

Which brokerages are winning (and losing) in 2023?

The market crunch is on. Find out what the latest numbers tell us about the brokerages that are winning and those that are not.  

Don’t knock the She Shed, guys — it could get you a 2.5% premium

Amenities that appeal to cooking enthusiasts, like steam ovens, pizza ovens or professional-grade appliances, can also add as much as 5.3% more to a home’s sale price, a new analysis

Cash to burn: Do real estate’s big players have enough in the bank?

Real estate businesses burned through billions in cash last year. Intel breaks down the biggest companies with the least wiggle room as economic uncertainty stretches into 2023.  

New York City hot dog icon Papaya King saved following Extell eviction

The 91-year-old hot dog stand — once thought to be doomed — will instead move across the street after its building was purchased by a developer Extell Development and founder Gary

Better workers fear they won’t see $100M in retention stock bonuses

The mortgage lender says it remains committed to distributing equity-based bonuses to all eligible employees, including $50M from CEO and founder Vishal Garg’s personal equity.  

Apartment sales plunge 74%, fastest drop since Great Recession

Interest rates are to blame as investors who scooped up multifamily buildings throughout the early years of COVID-19 pull back, according to a new report.  

Cash deals hit all-time high in Manhattan as sales plummet 38%

The average sale price for a home in Manhattan fell 5 percent to $1.95 million while the median sale price fell 10 percent to $1.075 million, according to a quarterly

Rocket Homes is target of ‘ongoing law enforcement investigation’

The Consumer Financial Protection Bureau launched an investigation into Rocket’s real estate brokerage arm in 2020 on eve of the company’s IPO. Three years later, the probe is ongoing.