DIRS.INFO The most relevant business & tech news

☆ How Russia is evading sanctions to keep $10 billion worth of seized Boeing and Airbus planes flying
▼ + stars: | 2023-07-31 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Russia seized some 500 leased Boeing and Airbus airliners after invading Ukraine. Western sanctions against Russia have taken a toll on the country's aviation sector — forcing the country to get creative to keep its planes flying. This included closing US, EU, and other allied airspace, preventing planemakers like Boeing and Airbus from sending spare parts to Russia, and stopping countries like Turkey from refueling Russian planes. But, the illegal import schemes are not the only methods keeping Russia's airlines alive. Buying off seized jets using rainy-day moneyAn Aeroflot Boeing 777-300ER parked at the gate at Los Angeles International Airport before the war.

Persons: It's, Vladimir Putin, Denis Kabelev, lessors, Fabrizio Gandolfo, —, Igor Chalik, Russia's NWF Organizations: Boeing, Airbus, Russia, Reuters, Aeroflot, S7 Airlines, Aeroflot Boeing, Los Angeles International Airport, Getty, TASS, Wealth Fund, lessors . Leasing, Airlines, Ural Airlines, Aerotime, country's Ministry of Finance Locations: Russia, Ukraine, EU, Turkey, Iran, China, Russia's, Kremlin, lessors, Russian

LONDON/SYDNEY, July 31 (Reuters) - Commercial real estate investors and lenders are slowly confronting an ugly question - if people never again shop in malls or work in offices the way they did before the pandemic, how safe are the fortunes they piled into bricks and mortar? WALL OF DEBTGlobal banks hold about half of the $6 trillion outstanding commercial real estate debt, Moody's Investors Service said in June, with the largest share maturing in 2023-2026. U.S. banks revealed spiralling losses from property in their first half figures and warned of more to come. Borrowers in the UK real estate holding & development category were 4% more likely to default. But the whale could be commercial real estate in the U.S.".

Persons: Richard Murphy, Jeffrey Sherman, Charles, Henry Monchau, Bank Syz, Jones Lang LaSalle, Savills, JLL, Dhara Ranasinghe, Huw Jones, Clare Jim, Kirsten Donovan Organizations: Employers, UK's Sheffield University, Reuters, Investors, Moody's Investors Service, Fed, Federal, Bank, Suisse, Washington D.C, HSBC, Capital Economics, Thomson Locations: SYDNEY, London, Los Angeles and New York, U.S, New York, Beijing, San Francisco, Tokyo, Washington, Shanghai, North America, Hong Kong

☆ Electric cars aren’t just for the wealthy anymore
▼ + stars: | 2023-07-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Thanks to a combination of new models, more production and new tax laws, electric vehicles are no longer just for the wealthy. Currently the “days supply” of electric vehicles – a measure of the number units on dealer lots relative to how quickly they sell – is now twice that of new vehicles overall. The biggest bargain among electric vehicles currently, whether you lease or buy, happens to be one that’s going away soon. A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. For almost $10,000 less, in terms of sticker price, Hyundai offers the soon-to-be redesigned Kona Electric.

Persons: Kia, Erik Pendzich, it’s, Mark Luxcombe, Wolters, “ There’s, ” Luxcombe, Brian Moody, Moody, ”, Stewart, Justin Sullivan, Kia EV6, Josh Lefkowitz, Tony Quiroga, Bing Guan, Quiroga, Chevrolet Bolt Organizations: CNN, General Motors, Ford, Hyundai, Kia, Volkswagen, GT, New York, Wolters Kluwer, Cox Automotive, Chevrolet Bolt, Stewart Chevrolet, GM, Angeles, Kona, EV, Chevrolet Locations: America, Colma , California, Los Angeles , California

☆ Ford raises annual pre-tax profit view as supply chain woes ease
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

Companies Ford Motor Co FollowJuly 27 (Reuters) - Ford Motor (F.N) on Thursday raised its annual pre-tax profit expectation, as improving supply chains helped the automaker produce more pickup trucks and crossover family-SUVs to meet sustained demand from consumers. An improvement in the overall supply chain has aided automakers to ramp up production and get enough vehicles to dealer lots on time to meet a strong demand for personal mobility. Better offers and financing options on vehicles has also swayed more consumers to consider purchasing new vehicles in place of used vehicles and leasing options. The company now expects pre-tax profit for the year to come in between $11 billion and $12 billion, compared with its prior forecast of $9 billion to $11 billion. Reporting by Nathan Gomes in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Nathan Gomes, Arun Koyyur Organizations: Ford, Thomson Locations: Bengaluru

☆ New, used EV prices have dropped, but don't rush to buy: 'It's not a consumer-friendly market,' analyst says
▼ + stars: | 2023-07-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

New EV prices also fell nearly 20% from their peak of $66,390 in June of last year due to inventory growth, found a study by Kelly Blue Book. A year ago, demand for electric vehicles due to high gas prices from the war in Ukraine sent prices on an upward swing. "We've never had a used EV market; it's only beginning to develop," said Krebs. How to shop for a used EVThere is a tax credit for used electric vehicles worth up to $25,000, but only a handful of used EVs have depreciated to cost under the ceiling price. To that point, car shoppers looking into used electric vehicles should be cautious about their battery life and utility, experts say.

Persons: Sean Gallup, Joseph Yoon, Kelly Blue, Yoon, Krebs, We've, Edmunds Organizations: Getty, What's Locations: Edmunds, Ukraine

The fire began on Tuesday night on the 199-metre Panama-registered Fremantle Highway, which was en route from Germany to Egypt, forcing several crew members to jump overboard. Rescue ships sprayed water onto the burning boat to cool it down, but using too much water risked its sinking, the Dutch coastguard said. The coastguard said on its website that the cause of the fire was unknown, but a coastguard spokesperson had earlier told Reuters it began near an electric car. Coastguard spokesperson Edwin Granneman said salvage experts were trying to work out next steps for the burning boat. A fire destroyed thousands of luxury cars on a ship off the coast of Portugal's Azores islands in February last year.

Persons: Edwin Versteeg, Willard Molenaar, Molenaar, Edwin Granneman, Shoei Kisen, Charlotte Van Campenhout, Rishabh, Anthony Deutsch, Alison Williams, Andrew Cawthorne Organizations: coastguard, Fremantle Highway, Dutch coastguard, Dutch Department of Waterways, Public, Reuters, Fremantle, Royal Dutch Rescue Company, Coastguard, Thomson Locations: Germany, Egypt, AMSTERDAM, Panama, Bremerhaven, Ameland, Dutch, Jersey, Portugal's Azores

☆ One dead in cargo ship fire, electric car suspected source - Dutch coastguard
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

The Panama-registered Fremantle Highway was transporting 2,857 cars from Germany to Egypt, 25 of them electric. An electric car was the suspected source of the blaze, a coastguard spokesperson said, adding that the ship was still burning. The crew had tried, but failed, to extinguish the fire, the coastguard statement said. The injured crew were taken by helicopter to medical facilities on the mainland. A fire destroyed thousands of luxury cars on a ship off the coast of Portugal's Azores islands in February last year.

Persons: Shoei Kisen, Charlotte Van Campenhout, Rishabh, Anthony Deutsch, Edmund Klamann, Tom Hogue, Michael Perry, Alison Williams Organizations: Dutch coastguard, Fremantle Highway, coastguard, NOS, Thomson Locations: AMSTERDAM, Netherlands, Panama, Germany, Egypt, Bermenhaven, Dutch, Ameland, Jersey, Portugal's Azores

The IRA includes a clause that automatically qualifies EV battery materials recycled in the U.S. as American-made for subsidies, regardless of their origin. That is important because it qualifies automakers using U.S.-recycled battery materials for EV production incentives. China handles virtually all EV battery recycling in a global market projected to grow from $11 billion in 2022 to $18 billion by 2028, according to research firm EMR. The volume of EV batteries available for recycling should grow over tenfold by 2030, said consultant Circular Energy Storage. In Europe, EV batteries are currently shredded into "black mass" that is shipped to China for recycling.

Persons: Marc Trent, Charles Trent, Nick Carey POOLE, Thomas Becker, Louie Diaz, Diaz, JB Straubel, Mike O'Kronley, Christian Marston, deconstruct, Bruno Thompson, Thea Soule, Soule, Kurt Vandeputte, Becker, We've, Nick Carey, Paul Lienert, Ben Klayman, Claudia Parsons Organizations: Charles Trent Ltd, REUTERS, Reuters, BMW, Redwood Materials, European Union, EV, Energy Department, Altilium Metals, recyclers, U.S, CES, Cambridge, Battery Recycling Company, EU, Nissan, Nio, Victoria Waldersee, Thomson Locations: Poole , Britain, England, U.S, North America, China, New York, Nevada, America, Georgia, Kentucky, EVs, Bulgaria, Europe, Poole, Dallas , Texas, Japan, HK, Poole , England, Detroit, Berlin

☆ Across rural America, data center development booms as investors race to cater to artificial intelligence
▼ + stars: | 2023-07-21 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Data center development is booming and AI is expected to stoke already growing demand. Demand is sapping power grids in major markets and pushing data center development across the US. The project's neighbors include Google, Meta, Microsoft, and Amazon – all of whom have similar plans, or are already underway with major data center projects. The message came after a torrid period of growth by the data center industry in that region. Wes Swenson, Nova's CEO, said the Reno region was becoming increasingly popular for data center development because of its access to power.

Persons: Matt McCollister, Martin Peck, Lincoln Rackhouse, Peck, Blackstone, Jonathan Gray, Drew Angerer, Bard, Gray, Pat Lynch, Robbie Sovie, Sovie, Georgia Power, Skybox, Rob Morris, Morris, George Frey, Novva, Wes Swenson, Nova's, Swenson, CBRE, Lynch Organizations: stoke, Lincoln Property Company, Harrison Street, Google, Meta, Microsoft, Amazon, Lincoln, Carrier, QTS, Dominion Energy, Dominion, Washington DC, APS, QuadReal, Georgia, Reuters, Data Centers, CIM Group Locations: Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Virginia, Loudoun County, Washington, Arizona, Southwest, Lithia Springs , Georgia, Atlanta, Vancouver, Hutto , Texas, Austin, Eagle Mountain , Utah, Reno , Nevada, Storey County, Reno, Silicon, Salt Lake City, West Jordan , Utah, CBRE

☆ Buying anything but a Tesla makes no sense right now
▼ + stars: | 2023-07-20 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Several car companies say their EVs will be built with the Tesla charging standard starting in 2025. Otherwise, buying an EV other than Tesla now means its charging tech will soon be in the minority. It's supposed to be a huge advantage to non-Tesla car companies that they're switching to Tesla's charging tech. With automakers, charging providers, and more moving to Tesla's tech, CCS will be far less popular in the coming years. The EV buyers in five to 10 years will be buying tech that's more advanced and stabilized.

Persons: Tesla, Elon, Karl Brauer, Brauer, NACS, Loren McDonald, McDonald Organizations: Morning, Ford, GM, Volvo, CCS Locations: America

☆ Biden has a new plan to save renters from bogus apartment fees
▼ + stars: | 2023-07-19 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The Biden administration is trying to crack down on hidden apartment rental fees. As part of the initiative, major rental platforms will show the total cost of units, not just the rent. As part of the Biden administration's ongoing initiative to crack down on junk fees, the White House has a new target: Rental fees. On Wednesday, the Biden administration announced a slew of new measures to help ensure that renters aren't burdened with surprise fees while trying to find a new place, or after they move in. Now, prospective renters will be able to see the total cost of an apartment when they peruse three major platforms — Zillow, Apartments.com, and AffordableHousing.com.

Persons: Biden, Joe Biden doesn't, Zillow Organizations: Service, White, Ticketmaster Locations: Wall, Silicon

INVESTMENT BANKING GAINSInvestment banking was a standout, with net income surging 76% to $2.7 billion. The gains were driven by higher interest payments and leasing revenue, the company said. In another surprise bright spot, the bank's sales and trading revenue outperformed expectations to post a 3% increase in revenue to $4.3 billion. Revenue from fixed income, currencies and commodities trading rose 7% to $2.7 billion from a year earlier. The financial health of consumers underpins BofA's consumer banking unit, where revenue rose 15% to $10.5 billion.

Persons: Wells, Brian Moynihan, David Fanger, BofA, Alastair Borthwick, Borthwick, Manya Saini, Saeed Azhar, Lananh Nguyen, Anil D'Silva, Nick Zieminski Organizations: YORK, Bank of America's, Wall, U.S, . Bank of America, JPMorgan Chase, Federal Reserve, " Bank of America's, Investment, Bank of America, Thomson Locations: U.S, dealmaking, Bengaluru, New York

☆ Remote work has made downtown DC a ghost town as federal office buildings sit mostly empty
▼ + stars: | 2023-07-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

But unlike many other US cities, much of DC's downtown office space is controlled by a single landlord: the federal government. There are three major issues when it comes to empty federal building space, Marroni said. Many congressional Republicans have also demanded that the Biden administration both restrict telework and get rid of unused office space. The White House Office of Management and Budget asked federal agencies in April to "substantially increase meaningful in-person work" by limiting telework. But there are concerns — including from employee unions — that restricting remote work could hurt the recruitment and retention of federal workers.

Persons: Muriel Bowser, hasn't, —, David Marroni, Marroni, She's, Biden, Scott Perry, they've Organizations: Office, DC, Service, Republicans, Transportation, Infrastructure, GAO, Pennsylvania Republican, White, Office of Management, Department of Education, Department of Veterans Affairs, Post, Trump International Locations: Wall, Silicon, Washington, DC's, Pennsylvania

July 18 (Reuters) - Bank of America (BAC.N) beat Wall Street estimates for second-quarter profit on Tuesday as it earned more from customers' loan payments, while its investment banking business fared better than expected. The bank reported a 7% rise in investment banking fees to $1.2 billion, driven by higher interest payments and leasing revenue, the company said. The bank reported a profit of 88 cents per share in the second quarter, beating analysts' average expectations of 84 cents, according to IBES data from Refinitiv. BofA's net interest income (NII) rose 14% to $14.2 billion in the second quarter. The financial health of consumers underpins BofA's consumer banking unit, whose revenue rose 15% to $10.5 billion.

Persons: Brian Moynihan, Wells, JPMorgan Chase's, Jeremy Barnum, Manya Saini, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: Bank of America, JPMorgan Chase, Federal Reserve, JPMorgan, U.S, Thomson Locations: U.S, Refinitiv, dealmaking, Bengaluru, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what's stopping cities from converting offices into apartmentsSome U.S. mayors are loosening up rules that determine how developers convert office buildings into apartment complexes. The conversion trend sped up in the 2020s, as the Covid pandemic remote work boom reshaped cities. Declines in office leasing activity is constraining funding for services like education and transit, leading some local leaders to prioritize conversion of dated buildings. These rule changes may create some additional housing supply in regions like the U.S. East Coast.

Organizations: U.S . Locations: U.S, U.S . East Coast

☆ Wells Fargo follows a solid quarter, promising investors something many of them count on
▼ + stars: | 2023-07-14 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Don't let Friday's stock action fool you: Wells Fargo (WFC) had a very good quarter. Shares of Wells Fargo initially climbed more than 2% following the earnings release, before giving up some of those gains. Wells Fargo stock was trading up slightly and down slightly Friday afternoon. WFC YTD mountain Wells Fargo YTD performance Bottom line It was very good quarter for Wells Fargo as the better-than-expected headline results came on the back of a lower-than-expected efficiency ratio, and slightly higher-than-expected net interest margin (NIM). Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023.

Persons: Wells, Wells Fargo, NIM, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Charlie Scharf, Patrick T, Fallon Organizations: —, Refinitiv, Auto, CNBC, Milken Institute Global Conference, Afp, Getty Locations: Wells Fargo, Wells, Beverly Hills , California

I made a lot of mistakes with money in my 20s. When life got busy, I turned a blind eye to my money situation — until my credit card bill was sent to me. AdvertisementAnother big-ticket item on my credit card bill was rideshare costs, which could have been avoided in most cases. Before I knew it, I had a lot of open credit cards — and a desire to close them all. I knew that opening credit cards could help my credit score, but only if I used them and paid them off immediately.

Persons: —, Salary.com, Investopedia, I've Organizations: Service, Quicken, Karma Locations: New York City

☆ OpenAI's mysterious new headquarters features nap rooms, a two-story library, and lounges for viewing both sunrise and sunset, according to planning documents
▼ + stars: | 2023-07-10 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

It's only fitting then that OpenAI should have a headquarters befitting its status as the vanguard of new AI revolution. But the company has kept details about its San Francisco headquarters a closely guarded secret. A reporter for Insider was even less successful, turned away by a security guard on an intercom who refused even to confirm or deny the existence of an OpenAI office at the location. But we may now have some hints about what it's like inside the offices of the world's most famous AI company, thanks to architectural plans and planning documents viewed by Insider. "It's an impressive space," said Peter Eisenbeiser, a city official who performed the final inspection of the 1960 Bryant Street space.

Persons: OpenAI, Peter Eisenbeiser, Travis Organizations: San Francisco's Mission, Microsoft, San, San Francisco, Florida Street, Bay, Eaton Hall, Architects, Boston Consulting Group Locations: San Francisco's, London, San Francisco, Florida, Seattle

☆ Can AI save commercial real estate in San Francisco?
▼ + stars: | 2023-07-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

In an aerial view, cars drive by the San Francisco skyline as they cross the San Francisco-Oakland Bay Bridge on October 27, 2022 in San Francisco, California. Alexander Quinn, senior director of research at commercial real estate company JLL, said his firm sees bright spots in San Francisco’s commercial real estate market as AI companies drive office leasing demand. A shopper exits the Westfield San Francisco Centre shopping mall in San Francisco, California, US, on Tuesday, June 13, 2023. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home. “I think the crash is coming, and it hasn’t happened yet,” he added, referring to commercial real estate prices.

Persons: Naveen Rao, CBRE, Justin Sullivan, it’s, ” Rao, San, Alexander Quinn, JLL, ” Quinn, Rao, OpenAI, ”, “ There’s, MosaicML, Quinn, “, Francisco’s, David Paul Morris, Henrique Dubugras, ” Michael Tannenbaum, Tannenbaum, Hans Hansson Organizations: CNN, San, Westfield, San Francisco Centre, Westfield San Francisco, Bloomberg, Getty, London, US, “ Locations: San Francisco, Southern California, Francisco, Oakland, San Francisco , California, ”, “ San Francisco, New York, Los Angeles, city’s, San Francisco’s Union, Coresight, Westfield San Francisco Centre, California, Francisco’s, San Jose, decamping, United States

☆ Used cars may never be cheap again — here's what you need to know about shopping for one right now
▼ + stars: | 2023-07-08 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Sometimes shopping used can require even more research and preparation than shopping for a new car. Used car prices have been notoriously volatile since the pandemic and squeezes on inventory have allowed sellers of used cars to jack up prices based on urgent needs. While this option can be great for new car shopping if you're on a budget, used car leases can be dangerous. Even when buying a used car, warranties are an important part of used car shopping. If repair costs are a concern for you, consider purchasing an extended warranty on your used car.

Persons: you've, that's, Kelley Organizations: Morning, Companies, Hertz, Avis, Enterprise, CPO

July 7 (Reuters) - U.S. private equity firm 777 Partners has said it is in talks with Boeing Co (BA.N) and Franco-Italian turboprop maker ATR over a new jet order, as it looks to enter more markets amid a boom in air travel. The talks come amid a rush for planes by airlines eager to tap into a greater-than-expected recovery in air travel. Earlier this year, Air India placed an order for 470 jets with Boeing and Airbus SE (AIR.PA) - which was later eclipsed by rival IndiGo's order for 500 Airbus planes. 777's business model involves buying jets and leasing them to airlines which it backs, such as Canadian low-cost carrier Flair Airlines and Australian airline Bonza. Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: We've, Josh Wander, Wander, Flair, Abhijith, Pooja Desai Organizations: Partners, Boeing Co, Boeing, ATR, Air, Airbus, Flair Airlines, Bonza, Capital Ltd, Thomson Locations: Italian, Miami, Air India, Asia, South America, York, Bengaluru

☆ EV sales: Hyundai overtakes GM, but Tesla's U.S. dominance continues
▼ + stars: | 2023-07-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Meanwhile, Hyundai — including the Kia brand that's owned by the same parent company — increased its EV sales by roughly 11% during that time to 38,457 units. GM, which was second in EV sales through the first quarter, more than quadrupled electric car and truck sales to 36,322 units through June compared with a year earlier. And Volkswagen more than doubled EV sales to 26,538 units sold through June. Scott Mlyn | CNBCGM's EV sales thus far have been disappointing, especially when it comes to new models with the automaker's "Ultium" battery technologies. Correction: GM was second in EV sales through the first quarter of this year.

Persons: Brandon Bell, Tesla, Andrew Frick, hasn't, Elon Musk, Musk, disappoints Hyundai's, Randy Parker, we're, Parker, Scott Mlyn, Cadillac Lyriq, Mary Barra, Barra, It's, —, Phil LeBeau, Lora Kolodny Organizations: Getty, Hyundai Motor, General Motors, Motor Intelligence, Hyundai, Kia, GM, Ford Motor, EV, Ford, U.S, Automotive, Biden, Hyundai Motor America, New York Auto Show, CNBC, GMC Hummer, Cadillac, Chevrolet, Aspen Ideas, Chevrolet Silverado, Detroit Locations: Austin , Texas, U.S, Mexican, Texas, North America, South Korea

☆ Over half a million silver coins just vanished – now the metals dealer behind the 'fraudulent' scheme must pay $146 million
▼ + stars: | 2023-07-04 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

A precious metals dealer has been asked to pay up $146 million in damages after over half a million silver coins went missing. Robert Higgins ran a "fraudulent and deceptive scheme" linked to the purchase and sale of precious metals, the CFTC said. From 2014 to 2022, Higgins led a 'fraudulent silver leasing program' that took deposits from almost 200 customers. Higgins ran a "fraudulent and deceptive scheme", and was ordered to pay $113 million to clients and $33 million in penalties, according to the CFTC. The precious metals industry has seen a series of scams in recent times.

Persons: Robert Higgins, Higgins, —, Prateek Gupta Organizations: Service, Commodities Futures Trading Commission, Asset, Depository Company, US Treasury, London Metal Exchange Locations: Delaware, Rotterdam, Singapore

☆ Office landlords struggling for tenants are facing an even scarier predicament — zombie properties
▼ + stars: | 2023-07-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +6 min

A zombie building is one that's too costly for a landlord to rent at prevailing rates. Office buildings purchased in the past five years could become zombies, a real-estate vet said. Like many New York office buildings, it's a dead man walking, similar to the hopelessly distressed shopping malls that have multiplied across the country over the past decade. One in four office buildings in Manhattan is valued at less than they last sold for, according to JLL. Bringing zombies back to lifeUnlike in the movies, zombie buildings don't remain undead forever.

Persons: Knotel, Michael Cohen, Cohen, —, haven't, RXR, Chetrit, HPS Organizations: New York, Macmillan Publishers, Manhattan, BNP, Real Estate, Green —, Blackstone, Chetrit, HPS Investment Partners Locations: New, New York City, New York, Manhattan, That's, HPS

Search resuls for: "Leasing"

25 mentions found