By Hannah Levitt and Sally Bakewell Commercial real estate lender New York Community Bancorp said it discovered “material weaknesses” in how it tracks loan risks, wrote down the value of companies acquired years ago and replaced its leadership to grapple with the turmoil. The stock plunged. Alessandro DiNello will become chief executive officer effective immediately, succeeding Thomas Cangemi, the lender said in […]
By David Cifarelli A new beer hall with a 17,000 square-foot tap room, outdoor garden and rotating roster of food trucks is expected to open just outside of Boston later this year. The Great American Beer Hall is projected to open at 142 Mystic Ave. in Medford in the late summer or early fall of 2024. […]
By Patrick Clark Property lenders have often been willing to work with borrowers since the pandemic upended commercial real estate. Increasingly, their patience is running out. There were 635 US commercial real estate foreclosures in January, up 17% from the previous month and roughly twice as many as in January 2023, according to a report from Attom. Those figures […]
By David J. Lynch As the Rockettes high-kicked their way to a record box office for the annual “Christmas Spectacular” at New York’s Radio City Music Hall, they were doing more than just entertaining. They were also showing the limits of the Federal Reserve’s power over the economy. If the Fed’s interest rate increases had worked after the […]
By Erik Sherman When do you know that a CRE market in a slump has hit bottom? Here’s the answer you get from Steven Jason, managing principle of EOS Real Estate and Financial Advisory: “The simple answer is nobody knows, and you don’t know until you’re past it and can see it in hindsight,” he tells […]
by Carol Todreas Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars. Since then and particularly now with the abundance of retail on the internet, physical […]
By Boston Real Estate Times CAMBRIDGE, MA—Although Maureen McCaffrey manages planning and development of capital projects in MIT’s Cambridge commercial real estate portfolio, don’t get surprised if you hear her “break into song” with the slightest trigger of a word or phrase. “One out of every hundred people find it amusing! Keeping with the music theme, I […]
By Greg Ryan The office-market meltdown in downtown Boston is about to enter a new stage. Many landlords have accepted the harsh post-pandemic reality that their buildings have fallen in value, so much so that they are willing to argue as much to the city to try to cut their tax bills, according to property owners […]
By Richard Berger There are early signs of recovery within the life sciences environment following a recent investment slowdown as venture capital is re-emerging, tenants are coming off the sidelines and average deal sizes are hitting all-time highs, according to a recent report from Cushman & Wakefield. Its research manager, Sandy Romero, said venture capital […]
by Paula Pintos The John A. Volpe National Transportation Systems Center was founded in 1970 to advance transportation innovation for the public good, and its new building in Cambridge, Massachusetts—designed and engineered by SOM—furthers this critical mission. Conceived as a vertical campus, this building brings the entirety of the U.S. Department of Transportation’s Volpe Center under one […]
