- Kushner Cos. in Talks to Buy Remaining Stake in 666 Fifth Ave. “Kushner Cos. is negotiating to buy the portion it doesn’t already own of 666 Fifth Ave., the financially ailing Manhattan office tower that last year became a lightning rod for criticism of conflicts between a senior member of the Trump administration and his family’s business interests.” (Wall Street Journal, subscription required)
- Powell: Fed Members Will Be Taking Another Look at Rate Projections “Policymakers need to be on guard for imbalances in the financial system, but there appears little danger of that being the case now, Federal Reserve Chairman Jerome Powell said Tuesday.” (CNBC)
- City Of Berkeley Plans To Launch An ICO And Cryptocurrency To Fund Affordable Housing “It’s not everyday that you hear about a major U.S. city planning to launch its own ICO and cryptocurrency. The city of Berkeley – one of the epicenters of liberal California - is doing just this though, and hopes to encourage other cities throughout the nation to follow its lead.” (Forbes)
- Sam’s Club, Instacart Announce Same-Day Grocery Deliveries “Sam’s Club is teaming up with Instacart for same-day deliveries of groceries and other products in a handful of select markets.” (MarketWatch)
- Foreign Investors Pile Into U.S. Student Housing “Foreign investors once flocked to trophy real-estate assets in the U.S. such as fancy hotels and sky-high towers. Now, as the commercial real-estate market enters the late innings of a bull market, foreigners are diving into a less exotic sector: student housing.” (Wall Street Journal, subscription required)
- Smart Rent Collection Practices for Property Investors “As the U.S. homeownership rate remains near record lows, more residential homes and condos are being converted into rental properties. No matter how exciting real estate investing is and what opportunities are on the market, net results often come down to effective rent collection practices.” (Forbes)
- Home Prices Surge 6.3% in December Amid Critical Housing Shortage “Sky high demand and record low supply continued to push home prices higher in December, far faster than income growth.” (CNBC)
- Barnes & Noble, Once an Indie Killer, Is Losing Out to Mom-and-Pops “The most recent chapter in the story of American bookstores has taken a surprising twist. Barnes & Noble, one of the main players in the wave of market consolidation that once threatened the future of indie bookstores, is now losing shared to mom-and-pops.” (RetailWire)
- Industrious Raises $80M as It Rides Co-Working Momentum “Brooklyn-based Industrious has raised $80M in a Series C funding round, the co-working company announced Tuesday.” (BisNow)
- Billionaire Investors Are First to Profit from Midtown East Rezoning “When Midtown East was rezoned last year, it was intended to not only spur soaring new state-of-the-art skyscrapers in the city’s core office market, but also to fund maintenance work for several prominent landmarks in the district.” (Crain’s New York Business, subscription required)
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