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Search resuls for: "Konrad Putzier"


25 mentions found


☆ The city whose 'doom loop' just might be worse than San Francisco's
  + stars: | 2024-04-13 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +5 min
An office building in St. Louis sold for $3.6 million after selling for $205 million 18 years prior. Downtown St. Louis is filled with unoccupied buildings and an unwillingness to visit them. The steep drop in the tower's value is just one sign that St. Louis' central business district is struggling, reports say. Indeed, St. Louis' downtown resembles a ghost town with a number of boarded-up buildings, according to The Wall Street Journal's Konrad Putzier. AdvertisementThe problem with Midwestern cities, like St. Louis, is that there's not much attracting people to the center of the city — and that applies to commuters, tourists, and residents.
Persons: Louis, —, Konrad Putzier, Glenn MacDonald, Business Insider's Eliza Relman, Michael Hicks, BI's Relman, Relman, Tracy Hadden Loh Organizations: Service, T, Goldman Group, News, Washington University, Olin Business School, Business, University of Toronto, Midwest ., Ball State University, Midwest, Brookings Institution Locations: St, Downtown St, Francisco's, North America, Midwest, Midwest . San Francisco, Indiana, —, San Francisco and New York
☆ Offices Around America Hit a New Vacancy Record
  + stars: | 2024-01-13 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
With housing in short supply, developers are converting more empty offices into apartments. But not all buildings are candidates for reuse. Photo Illustration: Amber BragdonAmerica’s offices are emptier than at any point in at least four decades, reflecting years of overbuilding and shifting work habits that were accelerated by the pandemic. A staggering 19.6% of office space in major U.S. cities wasn’t leased as of the fourth quarter, according to Moody’s Analytics, up from 18.8% a year earlier. That is slightly above the previous records of 19.3% set in 1986 and 1991 and the highest number since at least 1979, which is as far back as Moody’s data go.
Persons: Amber Bragdon Locations: U.S, wasn’t
☆ Real-Estate Developers Chase Outer Space Business in Florida
  + stars: | 2023-12-05 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
Cape Canaveral in Florida. Photo: Miguel RodrÃGuez/Zuma PressHines is developing a sprawling industrial park near Florida’s Cape Canaveral, aiming to cash in on the booming aerospace industry. The giant Texas real-estate firm is betting that companies such as Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX and their suppliers will pay high rents for warehouses and manufacturing space close to launch sites that can store rockets, space shuttles, satellites and any parts used to build and maintain them.
Persons: Miguel RodrÃGuez, Zuma Press Hines, Jeff Bezos Organizations: Zuma Press, Origin, Elon, SpaceX Locations: Cape Canaveral in Florida, Florida’s Cape Canaveral, Texas
☆ Office Landlords Can’t Get a Loan Anymore
  + stars: | 2023-11-20 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
The office sector’s credit crunch is intensifying. By one measure, it’s now worse than during the 2008-09 global financial crisis. Only one out of every three securitized office mortgages that expired during the first nine months of 2023 was paid off by the end of September, according to Moody’s Analytics.
☆ The Clearest Sign Yet That Commercial Real Estate Is in Trouble
  + stars: | 2023-11-13 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
Foreclosures are surging in an opaque and risky corner of commercial real-estate finance, offering one of the starkest signs yet that turmoil in the property market is worsening. Lenders this year have issued a record number of foreclosure notices for high-risk property loans, according to a Wall Street Journal analysis. Many of these loans are similar to second mortgages and commonly known as mezzanine loans.
Organizations: Wall
☆ Turning Empty Offices Into Apartments Is Getting Even Harder
  + stars: | 2023-11-06 | by ( Konrad Putzier | Will Parker | ) www.wsj.com   time to read: 1 min
With housing in short supply, developers are converting more empty offices into apartments. But not all buildings are candidates for reuse, even as more than 1 billion square feet of office space sits vacant across the U.S. Photo Illustration: Amber BragdonCities hoping to convert emptying office buildings into apartments are running into financing issues, stagnating rental markets and other challenges that are bottling up their efforts. Developers last year created just 3,575 apartment units in the U.S. through office conversions, according to an analysis by rental listing site RentCafe. That amounts to less than 1% of all apartments built that year through new construction.
Persons: Bragdon Locations: U.S
☆ Turning Empty Offices into Apartments Is Getting Even Harder
  + stars: | 2023-11-06 | by ( Konrad Putzier | Will Parker | ) www.wsj.com   time to read: 1 min
With housing in short supply, developers are converting more empty offices into apartments. But not all buildings are candidates for reuse, even as more than 1 billion square feet of office space sits vacant across the U.S. Photo Illustration: Amber BragdonCities hoping to convert emptying office buildings into apartments are running into financing issues, stagnating rental markets and other challenges that are bottling up their efforts. Developers last year created just 3,575 apartment units in the U.S. through office conversions, according to an analysis by rental listing site RentCafe. That amounts to less than 1% of all apartments built that year through new construction.
Persons: Bragdon Locations: U.S
☆ Adam Neumann Wounded WeWork. An Office Market Bust Finished It Off.
  + stars: | 2023-11-06 | by ( Eliot Brown | Konrad Putzier | ) www.wsj.com   time to read: 1 min
WeWork rode the wave of the venture-capital frenzy, building a global real-estate empire worth more than any other U.S. startup before buckling and laying off thousands when funding ran dry under its turbulent co-founder and former chief executive Adam Neumann . Ultimately, though, it was a historic office-market bust that doomed the desk-rental giant.
Persons: WeWork, Adam Neumann
☆ Adam Neumann Wounded WeWork, an Office Market Bust Finished It Off
  + stars: | 2023-11-02 | by ( Eliot Brown | Konrad Putzier | ) www.wsj.com   time to read: 1 min
WeWork rode the wave of the venture-capital frenzy, building a global real-estate empire worth more than any other U.S. startup before buckling and laying off thousands when funding ran dry under its turbulent co-founder and former chief executive Adam Neumann . Ultimately, though, it was a historic office market bust that doomed the desk-rental giant.
Persons: WeWork, Adam Neumann
☆ America’s Downtowns Are Empty. Fixing Them Will Be Expensive.
  + stars: | 2023-10-21 | by ( Konrad Putzier | Photographs Yasmin Yassin For The Wall Street Journal | ) www.wsj.com   time to read: 1 min
MINNEAPOLIS—Downtown streets were so crowded in the 1960s that developers conjured up a maze of elevated walkways between buildings, providing winter-proof avenues for office workers who filled the central city Monday through Friday. Stores, fast-food spots, bakeries and barber shops lined the covered, temperature-controlled walkways, which linked new glass skyscrapers sprouting one after the next. Workers racing to cubicles in the morning kept to the right to avoid crashing into each other, recalled convenience store clerk Monica Bray .
Persons: Monica Bray Organizations: Workers Locations: MINNEAPOLIS
☆ Texas Cities Are Booming, but Their Offices Are the Most Vacant
  + stars: | 2023-10-09 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial/texas-cities-are-booming-but-their-offices-are-the-most-vacant-4cffb565
Persons: Dow Jones Locations: texas
☆ Commercial Real Estate’s Next Big Headache: Spiraling Insurance Costs
  + stars: | 2023-09-26 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial/commercial-real-estates-next-big-headache-spiraling-insurance-costs-604efe4d
Persons: Dow Jones
☆ Surging Insurance Costs Have Come for Office Landlords
  + stars: | 2023-09-26 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial/commercial-real-estates-next-big-headache-spiraling-insurance-costs-604efe4d
Persons: Dow Jones
☆ Amazon’s Makeover of Lord & Taylor Building Shows Challenge of Office Conversions
  + stars: | 2023-09-12 | by ( Konrad Putzier | Photographs Thalia Juarez For The Wall Street Journal | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial/amazons-makeover-of-lord-taylor-building-shows-challenge-of-office-conversions-11855bf4
Persons: Dow Jones
☆ Real-Estate Doom Loop Threatens America’s Banks
  + stars: | 2023-09-06 | by ( Shane Shifflett | Konrad Putzier | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/commercial-real-estate-regional-banks-9f8f591d
Persons: Dow Jones
☆ Will Parker — Reporter at The Wall Street Journal
  + stars: | 2023-08-17 | by ( Will Parker | Gwynn Guilford | Konrad Putzier | ) www.wsj.com   time to read: 1 min
Will ParkerWill Parker writes about the housing and residential rental market for The Wall Street Journal. He was previously a reporter and special projects editor at the Real Deal, where he focused on the intersection of New York City real estate and politics.
Persons: Will Parker Will Parker Organizations: Wall Street, Real, New York Locations: New, New York City
☆ Konrad Putzier — Reporter at The Wall Street Journal
  + stars: | 2023-08-17 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
Konrad PutzierKonrad Putzier is a commercial property reporter at The Wall Street Journal in New York. He writes about real estate, economic development and the short-term rental industry. Prior to the Journal, Konrad was a reporter at the Real Deal and Real Estate Weekly. Konrad is a Hamburg, Germany, native and a graduate of Durham University in the U.K. and Yale University Graduate School of Arts & Sciences.
Persons: Konrad Putzier Konrad Putzier, Konrad Organizations: Wall Street, Real Deal, Real, Durham University, Yale University Graduate School of Arts & Sciences Locations: New York, Hamburg, Germany
☆ A Real-Estate Haven Turns Perilous With Roughly $1 Trillion Coming Due
  + stars: | 2023-08-07 | by ( Konrad Putzier | Will Parker | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/a-real-estate-haven-turns-perilous-with-roughly-1-trillion-coming-due-74d20528
Persons: Dow Jones
☆ Airbnb Powers to Most Profitable Second Quarter on High Nightly Rates
  + stars: | 2023-08-03 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/airbnb-abnb-earnings-q2-earnings-report-2023-6d66c232
Persons: Dow Jones
☆ Miami Sees Its First Population Drop in Decades
  + stars: | 2023-08-01 | by ( Konrad Putzier | Deborah Acosta | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/miami-sees-its-first-population-drop-in-decades-e181171f
Persons: Dow Jones Locations: miami
☆ Today’s Rate Hikes Threaten to Push Up Tomorrow’s Housing Costs
  + stars: | 2023-06-20 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/todays-rate-hikes-threaten-to-push-up-tomorrows-housing-costs-166ccdaa
Persons: Dow Jones
☆ U.S. Cities Are Rebounding—Just Not Near Your Office
  + stars: | 2023-06-08 | by ( Richard Florida | City Planning Specialist At The University Of Toronto | Konrad Putzier | ) www.wsj.com   time to read: 1 min
At the height of the pandemic, some analysts predicted that big cities would enter a downward spiral as remote workers sought more space and cheaper places to live. That happened to some degree early on, but it didn’t last. Michael Nagle/Bloomberg News
Persons: Michael Nagle Organizations: Bloomberg
☆ Interest-Only Loans Helped Commercial Property Boom. Now They’re Coming Due.
  + stars: | 2023-06-06 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
The owner of the Centre Square office complex in Philadelphia was unable to pay off a $368 million balloon mortgage against the property when it came due. Photo: jessica kourkounis/ReutersNearly $1.5 trillion in commercial mortgages are coming due over the next three years, according to data provider Trepp. Many of the commercial landlords on the hook for the loans are vulnerable to default in part because of the way their loans are structured.
Persons: jessica kourkounis Organizations: Reuters Locations: Philadelphia
☆ American Cities Are Starting to Thrive Again. Just Not Near Office Buildings.
  + stars: | 2023-05-30 | by ( Konrad Putzier | Kate King | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/american-cities-are-starting-to-thrive-again-just-not-near-office-buildings-d839798f
☆ Bonds Backed by Apartments Are Under Stress as Housing Market Cools
  + stars: | 2023-05-09 | by ( Konrad Putzier | Will Parker | ) www.wsj.com   time to read: 1 min
Defaults are rising for a niche mortgage bond used primarily to fund apartment-building purchases, another sign that rising interest rates are upending the property sector. This product, known as collateralized loan obligations, or CLOs, are mortgages packaged into bonds that are sold to investors. These mortgages helped fuel the rise in housing costs across Sunbelt states such as Arizona, Texas and Nevada, facilitating the purchase of buildings where property owners saw opportunities to raise rents.
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