The owners of Gucci on Monday bought a prime Fifth Avenue retail property for a whopping $963 million — and it could mean the boot for rival fashion house Armani from its flagship location. Gucci’s parent Kering scooped up the 115,000 square-foot, three-level retail space at 715-717 Fifth Ave., at East 56th Street, which sits
BEIJNG, CHINA – NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images) Vcg | Visual China Group | Getty Images Deflation may soon start biting into Chinese growth, as Beijing looks at another three to six months of
The much-ballyhooed “flight to quality” was supposed to mean one thing: frill-less Class B office buildings are left in the lurch. But that’s not exactly true. While the biggest property owners are indeed spending fortunes to kit out their glittering glass office towers like five-star hotels, half of the city’s nearly 400 million square feet
Shoppers rejoice, Big Apple retail not only survived the pandemic blues, it thrived unlike any other sector of the city’s commercial market. Owners that could lease for less money and shorter terms did so, and those generous terms triggered a feeding frenzy for well-located spaces. “We’ve seen a fairly healthy amount of recovery,” said Gene
Luis Alvarez | Digitalvision | Getty Images While rent payments do not traditionally affect your credit, a growing number of so-called rent-reporting services are trying to change that. These services track users’ rent-paying habits and report them to one or more of the big credit bureaus — Equifax, Experian and TransUnion — with the aim
Owning a home with three or more bedrooms is a lot more difficult for young families these days than it used to be. Baby boomers with no kids at home now own twice the share of large homes than millennials with children, which is a significant shift from just 10 years prior, according to data
A delivery man delivers packages in a Los Angeles neighborhood on January 17, 2024. Frederic J. Brown | AFP | Getty Images Sales of previously owned homes fell 1% in December compared with November to a seasonally adjusted annualized rate of 3.78 million units, according to the National Association of Realtors. Sales were 6.2% lower
The battered San Francisco Centre is losing yet another store, marking the fifth closure in the past month and sending the shopping mall’s occupancy rate to just 25%. Clothing brand Madewell is the latest to announce a closure inside the sprawling Union Square mall — San Francisco’s largest — with a notice on its website
The Real Estate Board of New York (REBNY) is celebrating 128 years as an organization, longer than the pact that brought together the five boroughs. For the first time since the pandemic, its annual gala banquet will return to its traditional winter date in January and take place at the Glasshouse in Midtown West. Guests
Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois. Scott Olson | Getty Images Homebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still considered negative, but the index has now moved 10 points higher
Fox News anchor Bret Baier has bid farewell to his Bermuda-style Florida haven for a cool $13.49 million. The upscale property, just a skip away from the Palm Beach Country Club, had entered the Baier family portfolio in March 2022, with a price tag of $12 million, according to Mansion Global. This sun-soaked abode, a
Former U.S. President Donald Trump arrives to speak to the press after attending the civil fraud trial against the Trump Organization in New York State Supreme Court, in New York City on Jan. 11, 2024. John Lamparski | AFP | Getty Images The top court in New York State on Tuesday rejected an appeal by
Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and a surge in expat demand, particularly from Russia in the wake of the start of Moscow’s full-scale war with Ukraine. Some of Dubai’s luxury developments cater specifically to Russian buyers, with
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