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10 Must Reads for the CRE Industry Today (March 19, 2018)

The Associated Press found that Kushner Cos. filed false NYC housing paperwork. Texas ranked number one in the country for commercial real estate development last year, the Dallas Morning News reports. These are among today’s must reads from around the commercial real estate industry.

  1. AP Exclusive: Kushner Cos. Filed False NYC Housing Paperwork “When the Kushner Cos. bought three apartment buildings in a gentrifying neighborhood of Queens in 2015, most of the tenants were protected by special rules that prevent developers from pushing them out, raising rents and turning a tidy profit. But that’s exactly what the company then run by Jared Kushner did, and with remarkable speed. Two years later, it sold all three buildings for $60 million, nearly 50 percent more than it paid.” (The Associated Press)
  2. Texas Topped the Country in Commercial Real Estate Development in 2017 “Oil and cattle are the iconic business touchstones for Texas. But it’s real estate development where the Lone Star State really leads the country.” (Dallas Morning News)
  3. The Next Housing Crisis: A Historic Shortage of New Homes “America is facing a new housing crisis. A decade after an epic construction binge, fewer homes are being built per household than at almost any time in U.S. history.” (Wall Street Journal, subscription required)
  4. Cracking the Co-Working Code in Commercial Real Estate “Real estate brokers scoff that just a fraction of U.S. office space is occupied by co-working and other flexible workspace options, yet data shows over one-quarter of new leases signed in the past two years came from this burgeoning business.” (Reuters)
  5. HVCRE Makes It into Senate Bill But It Could Die in the House “House Financial Services Committee Chairman Jeb Hensarling wants to attach nearly three dozen bills to the package, which could threaten the support of Senate moderates for the measure.” (
  6. What to Expect from the New Fed Dot Plot on Interest Rates “The Federal Reserve is expected to get more hawkish next week, but only around the edges.” (MarketWatch)
  7. New York Hotelier Making Moves in Tinseltown “New York hotelier Stephen Brandman and developer Jake Chetrit are opening two landmarked Beaux Arts hotels in Los Angeles under the Journal Hotel collection.” (New York Post)
  8. The Yards & New Thompson Hotel Will Make Washington D.C. A True Waterfront City “A national infrastructure plan may be stalled in Congress, but a new 42-acre waterfront development project in the U.S. capital’s backyard is full-steam ahead.” (Forbes)
  9. City Council to Investigate AP Report that Jared Kushner’s Real Estate Business Filed False Reports “The City Council is planning to investigate Jared Kushner’s family real estate company.” (NY1)
  10. City Taking Aim at Parking Requirements for Commercial Development “The Department of City Planning plans to relax parking requirements and other zoning strictures that dissuade commercial development outside of core business districts, an official said Thursday.” (Crain’s New York Business, subscription required)
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