- Cities Recycle Their Amazon Pitches to Attract New Business “Some U.S. cities are learning something this year from Amazon: how to sell themselves.” (Wall Street Journal, subscription required)
- Market Now Pricing in Four Interest Rate Hikes This Year “Markets are becoming more convinced that the Federal Reserve is about to get more aggressive on interest rates.” (CNBC)
- Wall Street Is Moving, and It’s Reshaping New York “From the 86th floor of the Empire State Building, historian Ingo Walter can point to Wall Street’s past, present and future—first facing south, then north, now west. More than three centuries after Dutch settlers built the financial center’s namesake barrier, Wall Street is more of a concept than a place. It’s been years since most big-name financial firms were housed in Manhattan’s Financial District.” (Bloomberg)
- U.S. Retail Sales Rose Broadly in April “Americans ramped up their spending in April, marking the second month of growth after a winter of sluggish spending.” (Wall Street Journal, subscription required)
- Sears Pulls Together Special Committee to Review Asset Sales, Including Kenmore “Sears Holdings said Monday it has formed a special committee to independently review a proposal from CEO Eddie Lampert's hedge fund, ESL Investments, to buy some assets from the department store chain.” (CNBC)
- Seven Steps To Protect Yourself From Private Real Estate Investing Mistakes “Successful investing in private real estate takes more than deep pockets. Market expertise to underwrite properties and management experience to execute profitable business plans are critical too. Yet human traits can lead even the best private investors astray.” (Forbes)
- Commercial Property Prices Level Off in Chicago Amid Nationwide Rise “Chicago-area commercial property prices have leveled off in the past six months following a years-long rise, which continues nationwide.” (The Real Deal)
- Will The Supreme Court's Sports Gambling Ruling Create A New CRE Market? “The U.S. Supreme Court made a momentous decision Monday striking down PAPSA, the law preventing states from regulating sports gambling. Because states have now been given the freedom to design their own sports gambling framework, uncertainty reigns over just how much effect the ruling could have on commercial real estate.” (BisNow)
- When 421a Was in Limbo, Developers Turned to This Tax Exemption “With 421a gone, however, some developers chose to tap another tax incentive with deeper affordability requirements called Article XI, according to a new report that analyzed affordable housing data from the city.” (The Real Deal)
- McKinsey Inks Major Lease at 3 World Trade Center “Done deal! Global consulting giant McKinsey & Co. and developer Larry Silverstein just signed a 15-year lease for 186,000 square feet at Three World Trade Center, The Post has learned.” (New York Post)
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