- Goldman: Banks Win, Companies with High Debt Lose from Fed’s Upcoming Historic Move “As the Fed starts unwinding the stimulus it provided to snap the economy back to life, two types of companies should benefit: Banks and those with lower debt than their peers, according to a Goldman Sachs analysis.” (CNBC)
- New Supermarket to Open in Hudson Yards “A Brooklyn-based grocer with a three-star Michelin restaurant is in serious talks to open in Hudson Yards. Brooklyn Fare, an upscale supermarket for urban hipsters, already has a Midtown location nearby at 431 W. 37th St. that’s home to one of the city’s most expensive eateries, Chef’s Table At Brooklyn Fare.” (New York Post)
- Wallgreens Said to Tweak Rite Aid Deal to Gain U.S. Approval “Walgreens Boots Alliance Inc. is poised to revise its agreement to buy individual Rite Aid Corp. stores, a move that may be enough to resolve outstanding antitrust concerns and clinch U.S. approval for a deal the companies have been pursuing in different forms for two years, said people familiar with the matter.” (Bloomberg)
- De Blasio Puts a Price on Pollution “Under the proposed first-of-its-kind mandate, city landlords would have to meet new efficiency standards by 2030 or pay fines of as much as $2 per square foot of their properties. Owners of the roughly 14,500 buildings that the city says contribute 25% of the city’s carbon footprint will have to overhaul their entire heat and hot-water systems and upgrade their roofs and windows. The plan would impact only buildings of 25,000 square feet or more.” (Crain’s New York, subscription required)
- Two Smart Long-Term Real Estate Options “When the jury was still out on your business’ survival, you probably didn’t want to enter into a long-term location commitment. But if you think you’re going to make it, now might be a good time to take a serious look at where you want to establish your business.” (Forbes)
- Bit by Bit, Miami Real Estate Will Embrace Bitcoin ‘You might have seen a recent news item about a local gentleman who agreed to accept Bitcoin for his Coral Gables house, which he had put on the market for $6.4 million. I hope you did, because that’s my listing! (Along with my business partner, Carol Cassis.)” (Miami Herald)
- SL Green, RXR to Buy Stake in NYC’s Worldwide Plaza “New York City’s largest office property owner just added some prime square footage to its holdings. SL Green Realty Corp., along with joint venture partner RXR Realty, entered into an agreement to acquire a 48.7 percent interest in Worldwide Plaza, a 2 million-square-foot mixed-use asset in Midtown Manhattan.” (Commercial Property Executive)
- Cushman’s New Head of Retail Has a Lot to Learn. And He Doesn’t Have Much Time “Gorelick comes with more than 15 years experience in the business, working on the real estate side for companies like the defunct retailer Buckler and Ralph Lauren, where he focused on bringing the Polo and Club Monaco brands to Europe. Most recently he worked at the mall giant Simon Property Group, heading up client accounts for the company’s 31 million-square-foot portfolio.” (The Real Deal)
- Economy Watch: Employment Stable in Most States “Employment seems to have stabilized, at least in most parts of the United States. According to the Bureau of Labor Statistics, unemployment rates were higher in August in only eight states, lower in one state, and stable in 41 states and the District of Columbia, compared with July.” (Commercial Property Executive)
- Renter Demographics, Trends Point to Continued Demand in Urban Centers “Despite the current slowdown in construction, rental demand is unlikely to wane. Looking closely at macrolevel dynamics and demographics, some telling trends are emerging. Here are four that point to rental demand remaining strong.” (Multifamily Executive)
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