- Coffee Bean & Tea Leaf to Open 100 Cafés in New York, Heightening the City’s Coffee Wars “One coffee company is about to set up shop in New York, entering the city with an aggressive growth strategy at a time when others are scaling back.” (CNBC)
- Atlantic City Places a New Bet on an Old Favorite: Casinos “Two years after plummeting gambling revenue nearly tipped this seaside resort into bankruptcy, two new casinos are opening on the boardwalk.” (Wall Street Journal, subscription required)
- Does Hurricane Damage Negatively Impact Your Real Estate Value? “Surprisingly, a hurricane has the opposite effect than what’s expected.” (Forbes)
- Leading Real Estate Software Providers at a Crossroads “Altus Group $29.69 (Real Estate Services; Shares outstanding: 39.04 million; Market cap: $1.1 billion; com) is a global real estate advisory services and software provider headquartered in Toronto, Canada. The company commenced trading on the Toronto stock exchange (AIF.TO) in June 2005. The share price has performed very well adding almost 300% since the current CEO joined in mid 2012. However, the share price has been weak after disappointing Q1 2018 results. We consider whether the weakness presents a buying opportunity.” (Seeking Alpha)
- Home Prices Gains Are Unrelenting in April, Case-Shiller Shows “The S&P/Case-Shiller national index rose a seasonally adjusted 0.3% and was up 6.4% for the year in April. The 20-city index rose a seasonally adjusted 0.2% and was up 6.6% compared to a year ago.” (MarketWatch)
- There Is a Right Way to Develop Mixed-Use Centers “Many developers see adding entertainment, dining and other mixed-use tenants to their malls as the solution for surviving the so-called retail apocalypse. But take it from a developer who has been incorporating non-mall tenants into the mall for the last 20 years: There is a right way and wrong way to do it.” (Forbes)
- Mayor De Blasio Unveils $400 Million New York City Housing Rehab Plan “Thousands of city-owned apartments will be renovated by private investors through a federally administered program that has repaired scores of publicly owned residences nationwide, New York City Mayor Bill de Blasio announced Monday.” (Wall Street Journal, subscription required)
- Knakal ‘Terminated’ at Cushman & Wakefield “Bob Knakal, chairman of New York City investment sales at Cushman & Wakefield, was ‘terminated’ Monday just days before his contract ended.” (New York Post)
- Senate Nixes Bill That Would Allow Taller and Denser Buildings in Downtown Brooklyn “The existing residential FAR cap will remain, at least for now. New York State Senate Bill S6760, which proposed an elimination of the cap on the residential floor area ratio (FAR), was quashed late last week. The cap has been set at 12 since 1961.” (Brownstoner)
- Marriott Breaks Ground on $600M HQ Campus “The Bernstein Cos. and Boston Properties are developing the project, which will bring both the hospitality company’s headquarters office and a Marriott hotel to downtown Bethesda, Md.” (Commercial Property Executive)
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