Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Morgan Stanley’s James P. Gorman and their Broadway headquarters. (Getty)A flood of companies have announced remote-work plans for beyond the pandemic.Morgan Stanley, however, is eying a more traditional model.“We plan a full return to the Midtown office when it is safe to do so, but we expect some flexibility for employees to work from home during some of the week,” a Morgan Stanley spokesperson told Commercial Observer. “Those...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Morgan Stanley’s James P. Gorman and their Broadway headquarters. (Getty)A flood of companies have announced remote-work plans for beyond the pandemic.Morgan Stanley, however, is eying a more traditional model.“We plan a full return to the Midtown office when it is safe to do so, but we expect some flexibility for employees to work from home during some of the week,” a Morgan Stanley spokesperson told Commercial Observer. “Those...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Los Angeles’ $1.2 billion bond that was meant to tackle homelessness has done very little to address the growing problem.That’s the bleak assessment of City Controller Ron Galperin, whose audit released Wednesday found that just three housing projects — 228 total units — have been completed in the four years since Proposition HHH passed with the overwhelming support of voters.And that’s despite the fact that of the total bond — or...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Los Angeles’ $1.2 billion bond that was meant to tackle homelessness has done very little to address the growing problem.That’s the bleak assessment of City Controller Ron Galperin, whose audit released Wednesday found that just three housing projects — 228 total units — have been completed in the four years since Proposition HHH passed with the overwhelming support of voters.And that’s despite the fact that of the total bond — or...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.(iStock)Almost 11 million households were behind on rent or mortgage payments during the first three months of the .Nearly 6 million of those households were , who reported either missing, delaying or paying reduced rent during the second quarter of the year, according to a report from the Mortgage Bankers Association. Just over 5 million households were homeowners that missed or deferred at least one mortgage payment.Read moreThe...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.(iStock)Almost 11 million households were behind on rent or mortgage payments during the first three months of the .Nearly 6 million of those households were , who reported either missing, delaying or paying reduced rent during the second quarter of the year, according to a report from the Mortgage Bankers Association. Just over 5 million households were homeowners that missed or deferred at least one mortgage payment.Read moreThe...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.California state judicial officials this week postponed a decision to resume evictions and foreclosure proceedings, which the state put on hold during the worst of the coronavirus pandemic.The Judicial Council was scheduled to vote on a proposal to allow those proceedings to start again on August 4, according to the Los Angeles Times.Some political leaders criticized the proposal, arguing that the Judicial Council should hold off...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.California state judicial officials this week postponed a decision to resume evictions and foreclosure proceedings, which the state put on hold during the worst of the coronavirus pandemic.The Judicial Council was scheduled to vote on a proposal to allow those proceedings to start again on August 4, according to the Los Angeles Times.Some political leaders criticized the proposal, arguing that the Judicial Council should hold off...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Los Angeles officials have moved to kill a $700 million downtown hotel and condo project because the developer — and development — is linked to against City Council member Jose Huizar.The once powerful Council member is accused of accepting $1.5 million from developers to help steer their projects to approval.Planning Director Vince Bertoni wrote in a June 15 letter to the U.S. subsidiary of China-based Shenzhen Hazens Real Estate...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Los Angeles officials have moved to kill a $700 million downtown hotel and condo project because the developer — and development — is linked to against City Council member Jose Huizar.The once powerful Council member is accused of accepting $1.5 million from developers to help steer their projects to approval.Planning Director Vince Bertoni wrote in a June 15 letter to the U.S. subsidiary of China-based Shenzhen Hazens Real Estate...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.The tallest skyscraper west of the Mississippi may soon be up for sale, as the Korean conglomerate that owns it struggles to shore up its finances.Korean Air is in talks with investors regarding a possible sale of the 73-story Wilshire Grand Center in Downtown Los Angeles, the Korean Economic Daily , citing industry sources.The property was facing a $900 million debt maturity this month. On Wednesday, Korean Air’s board decided to...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.The tallest skyscraper west of the Mississippi may soon be up for sale, as the Korean conglomerate that owns it struggles to shore up its finances.Korean Air is in talks with investors regarding a possible sale of the 73-story Wilshire Grand Center in Downtown Los Angeles, the Korean Economic Daily , citing industry sources.The property was facing a $900 million debt maturity this month. On Wednesday, Korean Air’s board decided to...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Nearly 60% of condo units built in Long Island City, Queens, since 2018 remain unsold. (iStock)Over the past decade, Long Island City became the for New York City’s new development market. Its proximity to Manhattan and mass transit, the availability of relatively cheap land and a promising waterfront combined to create a wave of for-sale towers, each one upping the next in terms of amenities.How those bets will pan out is...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Nearly 60% of condo units built in Long Island City, Queens, since 2018 remain unsold. (iStock)Over the past decade, Long Island City became the for New York City’s new development market. Its proximity to Manhattan and mass transit, the availability of relatively cheap land and a promising waterfront combined to create a wave of for-sale towers, each one upping the next in terms of amenities.How those bets will pan out is...WW…

searchCommercialNationalBlumenfeld says retailer’s exit from East Harlem property is “small-format” playSave articleSHARE THIS ARTICLEFONT SIZETarget announced last month it would close nine retail locations across the country, citing theft and organized retail crime. But some landlords of the soon-to-be shuttered locations aren’t convinced, Bloomberg reported.  Blumenfeld Development Group’s East River Plaza is one of the properties losing a store, which is set to close its doors at the end of next week. Target opened the 135,000-square-foot East Harlem store in 2010, but...…searchCommercialNationalBlumenfeld says retailer’s exit from East Harlem property is “small-format” playSave articleSHARE THIS ARTICLEFONT SIZETarget announced last month it would close nine retail locations across the country, citing theft and organized retail crime. But some landlords of the soon-to-be shuttered locations aren’t convinced, Bloomberg reported.  Blumenfeld Development Group’s East River Plaza is one of the properties losing a store, which is set to close its doors at the end of next week. Target opened the 135,000-square-foot East Harlem store in 2010, but...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Amazon CEO Jeff Bezos (Credit: Getty Images)Amazon is planning to expand its offices in six major U.S. cities, just weeks after announcing plans to double down on its .plans to add new hubs in New York, Phoenix, San Diego, Denver, Detroit and Dallas, which will bring about 3,500 corporate jobs, the company announced on Tuesday, according to the Wall Street Journal.In New York, the company will bring 2,000 jobs to the former on...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Amazon CEO Jeff Bezos (Credit: Getty Images)Amazon is planning to expand its offices in six major U.S. cities, just weeks after announcing plans to double down on its .plans to add new hubs in New York, Phoenix, San Diego, Denver, Detroit and Dallas, which will bring about 3,500 corporate jobs, the company announced on Tuesday, according to the Wall Street Journal.In New York, the company will bring 2,000 jobs to the former on...WW…

Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Bucksbaum Properties CEO John Bucksbaum (Getty, CMX Cinemas)The developer of a major mixed-use complex next to Wrigley Field is suing its movie theater tenant for $18 million, alleging it failed to complete work on its space and has skipped rent payments.Bucksbaum Properties, a co-developer of the $150 million apartment and retail complex in Wrigleyville, filed the federal lawsuit, claiming Mexican cinema chain Cinemex is in breach...…Javascript is disabled in your web browser.For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.Bucksbaum Properties CEO John Bucksbaum (Getty, CMX Cinemas)The developer of a major mixed-use complex next to Wrigley Field is suing its movie theater tenant for $18 million, alleging it failed to complete work on its space and has skipped rent payments.Bucksbaum Properties, a co-developer of the $150 million apartment and retail complex in Wrigleyville, filed the federal lawsuit, claiming Mexican cinema chain Cinemex is in breach...WW…