- Chinese Reversing Big U.S. Real Estate Buying Spree That Had Helped Boost Prices “Chinese investors have become net sellers of U.S. commercial real estate for the first time in a decade, reversing a yearslong trend when these buyers spent tens of billions of dollars and helped boost the market for hotels and other properties.” (Wall Street Journal, subscription required)
- Suing Las Vegas Victims Got Headlines. Outcome Could Be Big News, Too. “MGM Resorts International, in a shocking legal maneuver to protect the conglomerate from liability for a mass shooting last year, has sued the victims. It’s an audacious pre-emptive move that hinges on an interpretation of novel legal issues under an obscure federal law that has never been tested in the courts. Depending on how the cases play out, it will have far-reaching implications for both victims and companies targeted by terrorists and cybercriminals.” (The New York Times)
- Only One Generation of Americans Has Fully Recovered From the Housing Crash “The generation that likely had the most to lose during the crash in the housing market appears to have gained the most household wealth since 2007.” (MarketWatch)
- Amazon Expands Whole Foods Delivery in New York, Florida “Amazon said Tuesday that it's added the option for shoppers to have fresh groceries delivered from Whole Foods in the New York area and three cities in Florida.” (CNBC)
- Expert Advice on Investing in Vacant Land “Investors looking for creative ways to maximize returns in a competitive, hot-selling real estate market may be interested in buying vacant land, which has the potential to create outsized returns when held or improved.” (S. News & World Report)
- CoStar Nearly Doubles Income in Q2 “CoStar Group saw net income nearly double year-over-year, earning $44 million in the second quarter. That’s up from just over $22 million a year ago, the company said Tuesday in an earnings report.” (The Real Deal)
- S Businesses Are Bullish Amid Worldwide Instability “Potential perils are in plain sight: An intense and unpredictable tariff battle is alarming businesses across the country. The annual federal deficit is heading toward $1 trillion. Credit card debt is soaring. And the synchronous wave that lifted every world economy at the year’s start has dissipated. So what? Such risks have done little to puncture the exuberant optimism that is encouraging American businesses to ramp up hiring and consider new investment.” (The New York Times)
- Bleeding Talent: A Look at Cushman’s Top Departures in the First Half of 2018 “The pre-IPO brain drain at Cushman & Wakefield is no secret. But it’s also become increasingly clear that some of the company’s resources have been sacrificed to get to this point.” (The Real Deal)
- NYU’s Martin Dorph Talks About Overseeing the University’s Giant Real Estate Holdings “‘I wish this university was as wealthy as people think.’ So declared Martin Dorph, the executive vice president at New York University, who oversees the university’s finance, human resources, information technology, investment, campus safety, facilities and construction management offices in New York City and abroad.” (Commercial Observer)
- Newly Developed Chelsea540 Building in Contract for $260M “The building where Jay-Z is moving his offices, Chelsea 540, is in contract for roughly $260 million to the Lincoln Property Co. of Dallas.” (New York Post)
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