- Deadline Approaching for Elevator Upgrades “A New York City regulation that requires the installation of door-lock monitors on elevators by the end of the year is starting to cause bottlenecks in work at elevator consultancy and maintenance companies, catching some co-op and condo boards off guard at the long wait times they face to get the work done.” (The New York Times)
- New York’s Mansion Tax Could Explain Blitz of Big-Ticket Sales “A change in New York state law could be a motivating factor behind a recent flurry of enormous real-estate transactions in Manhattan.” (Wall Street Journal, subscription required)
- Amazon U.S. Online Market Share Estimate Cut to 38% From 47% “A closely watched researcher has cut its estimate of Amazon.com Inc.’s share of the U.S. e-commerce market after incorporating new figures from the company.” (Bloomberg)
- Fed Cut Looks a Bit Less Urgent With Pickup at Stores, Factories “U.S. stores and factories reported a pickup in activity last month, suggesting the economy is humming along without an urgent need for the Federal Reserve to cut interest rates.” (Bloomberg)
- US Retail Sales Rose in May, while April Was Revised Higher “U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.” (CNBC)
- Why A Tiny Vermont Town Could Be A Model For Impactful Real Estate Investing “The Global Impact Investing Network estimates that global “impact investments” - investments made for social and environmental benefits in addition to financial gains – reached another peak of $502 billion in April 2019 - double the $228 billion in 2018 and double the previous $114 billion in 2017.” (Forbes)
- City Landlords Are Offering Fewer Deals “The share of new leases with concessions, such as a free month, fell in Manhattan, Brooklyn and northwest Queens in May, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Thursday. Rents rose in all three boroughs.” (Crain’s New York Business)
- Grocery Delivery in the Digital Age “In 2019, the simple act of going to the grocery store has evolved from the experience that it was just a few years ago. In this digital age, we see companies starting to incorporate more technology into how the stores are run, while creating a unique experience for the customer.” (GlobeSt.com)
- Future-Proofing Midtown “Midtown office landlords are all aboard the lifestyle-community-hospitality train as they attempt to reinvent their buildings to appeal to a younger, more relaxed generation.” (Commercial Observer)
- WeWork Takes 89 KSF at Florida’s Tallest Office Building “WeWork has inked a deal for 89,300 square feet in Miami at Southeast Financial Center, the tallest and largest office tower in Florida.” (Commercial Property Executive)
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