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Acquisitions

Real Estate Roundup 7.19.19

Leasing 


Health insurance startup Oscar Health has inked a deal to take over New York Magazine’s longtime offices at One Hudson Square. Asking rent on the deal was in the $80’s per SF. (CO)

Software developer WorkStride inks 12K SF lease to stay put at the Empire State Building. Asking rent was in the mid-$70’s per SF. (CO)

Evolving retail 

Store closures accelerate and may top 12,000 in 2019. Here’s what’s closed so far this year. (CNBC)

Life after liquidation: Toys R Us stores will be back this holiday season, this time with a tech partner. (CNBC)

The future… Amazon’s most ambitious research project is a convenience store. (Bloomberg)

Politics and other news 

U.S. consumers are taking advantage of low interest rates to borrow and spend, boosting banks that cater to Main Street and leaving behind those that don’t. (WSJ)

Foreign purchases of U.S. homes have dropped by half over the last two years, a fresh blow to the top end of the market in New York City, Miami and cities in California. (WSJ)

De Blasio orders office towers to lay off AC during heat wave. (NYPost)

Fifth Wall Ventures raises $503 million for second real estate fund. (TechCrunch)

MHP Real Estate Services and Banyan Street Capital have walked away from their $70 million deal to buy the landmarked Bronx General Post Office building. (CO)

Court decision to set back JDS’ proposed Two Bridges mega-development. (TheCity)

Fed Vice Chairman Richard Clarida and New York Fed chief John Williams buoyed stocks with their dovish remarks Thursday afternoon, in some of the final comments from central bankers before they enter their blackout period ahead of a July 30-31 policy meeting… The NY Fed than clarifies his speech. (Bloomberg+CNBC) 

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