New York’s rate of positive Covid-19 tests fell to the lowest since the pandemic began last week. Yet tourism is down, crime is up and as many as a third of the city’s small businesses may never reopen.

Led by loans backed by hotel and retail properties, $54.3 billion in CMBS debt has been transferred to workout specialist since March.

Retail landlords are beginning to include pandemic language in new leases, reports the Wall Street Journal. The depressed U.S. economy could help make Airbnb IPO successful, as people choose to vacation at homes instead of hotels, according to...

The hedge fund wants to sublet about 30,000 sq. ft. of its 50,000-sq.-ft. offices at the NYC skyscraper.