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Roundup

Real Estate Roundup 2.10.20

One World Trade Center (Credit: Michael Mahesh)

Real Estate Roundup:

Leasing

  • The Durst Organization inked small deals with four new tenants to take space at One World Trade Center. Asking rent on the 71st floor was $69 per SF, while it was $75 per SF on the 76th floor. (CO)

Politics

  • Mayor Bill de Blasio unveiled proposals for a citywide basement apartment legalization program, a tax on vacant storefronts, more low-income housing and payment plans for renter security deposits. (NYPost+CO)

Tech

  • SoftBank will raise far less than anticipated for its next fund after investors, disillusioned by bad bets like WeWork and the chaotic and unorthodox way the fund operates, refused to put up new cash. The new pool could end up being less than half that size, with nearly all of its capital coming from SoftBank itself… Activist investor Elliott Management has built up a more than $2.5 billion stake in the tech giant and is pushing the company to make changes including more share buybacks to boost its share price, which trades well below the value of its assets. Any additional share buybacks could constrain Masa’s futuristic investment plans. (WSJ)
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