London faces plunging home prices as remote work continues
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London faces plunging home prices as remote work continues

ByNews Polite

#news #newstoday #topnews #newsupdates #trendingnews #topstories #headlines The City of London is grappling with a dramatic slump in property values, leaving investors and homeowners questioning the future of this once-thriving residential hotspot. After years of steady growth, with property prices climbing 40.5% between 2013 and 2022, the City, located in…

Developer gives first look at planned skyscraper near Grand Central Terminal — but lacks key piece to make it a reality
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Developer gives first look at planned skyscraper near Grand Central Terminal — but lacks key piece to make it a reality

ByNews Polite

It’s build-or-bolt time for BXP on Madison Avenue. The developer is itching to build a skyscraper at 343 Madison between East 44th and 45th streets, which is currently a block-long, empty lot owned by the MTA. But it needs an anchor tenant before the striking, 46-story, 950,000 square-foot tower —…

Owner of 60 Wall St. makes risky bet with massive 0M revamp
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Owner of 60 Wall St. makes risky bet with massive $250M revamp

ByNews Polite

The struggling Financial District’s brightest hope — and biggest challenge for its owners — is 60 Wall St., the vacant, 1.6 million square-foot tower where Paramount Group launched a marketing and leasing campaign as it completes a $250 million transformation. The 47-story tower developed for JPMorgan in the 1980s more recently belonged…

Aging NYC office building shows how to succeed despite trend toward shiny new towers
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Aging NYC office building shows how to succeed despite trend toward shiny new towers

ByNews Polite

Let’s say you own a 60-year-old, near-900,000 square-foot Midtown office building. Demand for space in Midcentury buildings is weak.  A half-billion-dollar mortgage payment is coming up. Do you: Scramble to refinance when lenders are getting cold feet? Complain to the New York Times that it’s the worst season for property owners…