It has been called the world’s largest armory — a palatial fortress in the middle of the northwest Bronx, with turrets overlooking the subway station. But for nearly 30 years, the Kingsbridge Armory has languished despite grand plans by mega-developers, billionaire investors and celebrities to repurpose the 570,000-square-foot landmark. Now, an unusual community-led partnership aims […]
Read MoreTag: Real Estate (Commercial)
As Development Alters Greek Islands’ Nature and Culture, Locals Push Back
With a deluge of foreign visitors fueling seemingly nonstop development on once pristine Greek islands, local residents and officials are beginning to fight back, moving to curb a wave of construction that has started to cause water shortages and is altering the islands’ unique cultural identity. Tourism is crucial in Greece, accounting for a fifth […]
Read MoreWhat ‘The Sopranos’ Iconic Filming Locations in N.J. Look Like Now
As much as it was a show about Italian American mobsters, “The Sopranos” was a show about New Jersey. From scenes of domestic life in a North Caldwell McMansion to after-hours debauchery at a strip club in Lodi, the show captured a snapshot of the Garden State in the late 1990s and 2000s, beguiling viewers […]
Read MoreChill in the Housing Market Seeps Into Other Industries
John Matheson, a home inspector in Alameda, Calif., kept busy during the pandemic when the housing market was red hot. But as interest rates started to rise about halfway through 2022, he noticed that his workload began to drop. Last year, the number of jobs plummeted. “My business is about 50 percent of what it […]
Read MoreIn Philadelphia, Chinatown’s Champions Fear New Arena for 76ers
Deborah Wei first wore a “No Stadium in Chinatown” T-shirt emblazoned with red English letters and Chinese characters in 2000, when she helped to scuttle a proposed baseball stadium for the Phillies. She wore an updated version a decade later, with the word “Stadium” crossed out and replaced by “Casino,” when local opposition derailed a […]
Read MoreWhere You Can Still Glimpse the Glory of a Vanished Grand Hotel
An absence rises from the Manhattan pavement, a Seventh Avenue nothingness soaring 22 stories into the Midtown sky. There is vacancy now where the Hotel Pennsylvania once stood. Its Ionic columns and limestone facade, its guest rooms and conference rooms and dining rooms — gone. Its whistling doormen and bustling bellboys, weekend vacationers and afternoon […]
Read MoreSan Francisco’s Montgomery Street Could Signal a Downtown Revival
It seemed like the last place one might invest a billion dollars on an office building in October 2020. San Francisco’s downtown symbolized all that had gone wrong with American cities during the pandemic. The empty office towers. The shops and restaurants boarded up with plywood. The dirty streets, the petty crime, the eerily silent […]
Read MoreThe Building Spree That Reshaped Manhattan’s Skyline? It’s Over.
The Manhattan office construction boom is over. Just three large office towers — of more than 500,000 square feet — are being built across New York City, with two expected to open in 2024 or 2025 and nothing else projected to go up for years. Normally, a handful of sites that size would be in […]
Read MoreCubicles Reappear in Offices as Employees Return
Among office designers and architects, cubicles are rarely mentioned. The once-ubiquitous fixture, so popular in the 1980s and ’90s, has become vilified as a sign of the dehumanization of the work force. Design experts today say cubicles are a “hard no.” And yet cubicles, like scrunchies, are back, spurred by demand from employers and employees […]
Read MoreTrump Fraud Trial Verdict Dependent on the Unconventional Judge Engoron
Letitia James, the attorney general of New York, set out to prove that Donald J. Trump had committed fraud. Mr. Trump took the stand to assail Ms. James. Lawyers on both sides screamed that their opponents were out of line and wasting time. When 11 weeks of chaotic courtroom wrangling ended Wednesday, the fate of […]
Read MoreIn Central London, a Big Bet on a Return to the Office
On a recent Monday afternoon, visitors emerging from the serenity of St. Paul’s Cathedral in the heart of London could walk just a few steps north before being hit by a blast of noise: the near-deafening sounds of a giant hydraulic drill. A few steps farther, sparks flew overhead from another building site. The City […]
Read MoreChina Evergrande Soared on the Property Boom. Here’s Why It Crashed.
In January, more than 100 financial sleuths were dispatched to the Guangzhou headquarters of China Evergrande Group, a real estate giant that had defaulted a year earlier under $300 billion of debt. Its longtime auditor had just resigned, and a nation of home buyers had directed its ire at Evergrande. Police on watch for protesters […]
Read MoreHow an L.A. Rams Training Complex Could Help Transform Urban Sprawl
The San Fernando Valley, once an endless ramble of orange groves in Southern California that evolved into the porn capital of the world in the 1970s and later gave way to big-box retailers and strip malls, will now become the home of the 2021 season’s Super Bowl champions, the Los Angeles Rams. In a $650 […]
Read MoreDubai’s Costly Water World
For a desert city, Dubai appears like a water wonderland. Visitors can scuba dive in the world’s deepest pool or ski inside a mega mall where penguins play in freshly made snow. A fountain — billed as the world’s largest — sprays more than 22,000 gallons of water into the air, synchronized to music from […]
Read MoreNew York’s Financial District Transforms as Offices Are Made Into Housing
For all the talk about converting New York City’s languishing office buildings into housing, just one neighborhood has done it on a large scale: the financial district. In the past few years, luxury apartments have been carved out of a 1907 office tower at 84 William Street and an Art Deco skyscraper at 1 Wall […]
Read MoreWeWork’s Bankruptcy Tests Claims of a Co-Working Revolution
In its heyday a few years ago, WeWork said it would reinvent offices. But the company never created a sustainable business or changed how most people worked. The business of offering flexible office space on short leases to individuals and businesses, a model that WeWork hoped to make mainstream, remains a niche in commercial real […]
Read MoreWhat to Watch For in Today’s Elections, and More
The New York Times Audio app is home to journalism and storytelling, and provides news, depth and serendipity. If you haven’t already, download it here — available to Times news subscribers on iOS — and sign up for our weekly newsletter. The Headlines brings you the biggest stories of the day from the Times journalists […]
Read MoreWeWork Files for Bankruptcy Amid Glut of Empty Offices
WeWork, the real estate company that offered start-ups and individuals sleek quarters to pursue their entrepreneurial dreams, filed for bankruptcy protection in the United States on Monday after years of struggling to find its footing. The company filed for Chapter 11 bankruptcy protection in New Jersey, as part of what it described as a “comprehensive […]
Read MoreWeWork Bankruptcy Would Deal Another Blow to Ailing N.Y. Office Market
For years, landlords around the world clamored to get WeWork into their office buildings, a love affair that made the co-working company the largest corporate tenant in New York and London. Now, WeWork is perhaps days away from a bankruptcy filing — and its demise could not come at a worse time for office landlords. […]
Read MoreTrump Family Members Set to Testify at Civil Fraud Trial Next Week
Members of the Trump family are scheduled to testify starting next week at a civil fraud trial in Manhattan, beginning with Donald Trump Jr. on Wednesday and concluding on Nov. 6 with former President Donald J. Trump. Mr. Trump and his adult sons, Donald Jr. and Eric, are defendants in the case, which was brought […]
Read MoreThe Flatiron Building Will Be Converted Into Condos
The Flatiron, the storied office building in the heart of Manhattan that has recently fallen on hard times, will be converted into luxury housing, its owners announced on Thursday. The proposed redevelopment by the new owners is aimed at starting a second life for the Flatiron — its sole office tenant, Macmillan Publishers, departed before […]
Read MoreViews of the Empire State Building Are Being Blocked
Sometimes New York’s a downer. I had an appointment the other day near Madison Square Park. For years, one of the great architectural twofers in the city has been the view up and down Fifth Avenue from the pedestrian plaza next to the park, south toward the Flatiron Building, north toward the Empire State. When […]
Read MoreAs Coal Plants Shutter, a Chance to Redevelop ‘the Gates of Hell’
After the Cleveland Electric Illuminating Company flipped the switch on its sprawling new Avon Lake site in 1926, the brick behemoth, then one of the world’s largest coal-fired power plants, helped usher in a new era of regional economic growth in northeastern Ohio. Nearly a century later, the plant sits dismantled and disconnected. It was […]
Read MoreThe Places That Sam Bankman-Fried Left Behind
Before it all collapsed last fall, the cryptocurrency mogul Sam Bankman-Fried was at the center of a global business empire. The 31-year-old mogul started his first company in the San Francisco Bay Area, before moving to Hong Kong and then to the Bahamas, where his FTX cryptocurrency exchange was based until it filed for bankruptcy […]
Read MoreVaults, Ducts, Kitchens: Everything Must Go When a Company Moves Out
Wayne Horne’s job comes with many challenges. This time, the problem was a generator that was too large to fit through its existing vent. Mr. Horne, the director of decommissioning at the real estate firm CBRE, was helping a client vacate a manufacturing plant in New Jersey. In addition to the furniture, fixtures and equipment, […]
Read MoreRates Are Jumping on Wall Street. What Will It Do to Housing and the Economy?
Heather Mahmood-Corley, a real estate agent, was seeing decent demand for houses in the Phoenix area just a few weeks ago, with interested shoppers and multiple offers. But as mortgage rates pick up again, she is already watching would-be home buyers retrench. “You’ve got a lot of people on edge,” said Ms. Mahmood-Corley, a Redfin […]
Read MoreHow Chelsea Became the Unlikely Center of the Art World
THE NEW YORK art dealer Pat Hearn was two days away from signing a fresh lease on her gallery space in SoHo when the phone rang on a snowy Sunday night in the spring of 1994. Paul Morris, a fellow dealer who knew she was restless, suggested that they open galleries in Chelsea. “Why would […]
Read MoreTrump Lawsuit Against Judge in Fraud Case Rejected by Appeals Court
A civil trial in which Donald J. Trump is accused of fraudulently inflating the values of his properties could begin as soon as Monday, after a New York appeals court rejected the former president’s attempt to delay it. The appeals court, in a terse two-page order Thursday, turned aside a lawsuit Mr. Trump filed against […]
Read MoreProperties Trump May Lose Control of in New York Fraud Case
A New York judge put a spotlight on former President Donald J. Trump’s business empire this week, determining in a ruling that he had inflated the value of his properties by considerable sums to gain favorable terms on loans and insurance. If the ruling stands, Mr. Trump could lose control over some of his most […]
Read MoreWas Trump’s Real Estate Hype Fraud or Just Business as Usual?
The New York attorney general’s lawsuit against Donald Trump over his real estate business hinges on one question: Where does puffery end and fraud begin? To put it differently, how much can Mr. Trump overstate what he’s worth before he crosses the line into illegality? There’s no doubt that Mr. Trump vastly exaggerated his net […]
Read MoreTrump’s Lawyers Struggle to Grasp the Impact of Fraud Ruling
Lawyers for Donald J. Trump appeared in a New York courtroom Wednesday morning, struggling to understand the consequences of a ruling a judge had issued the night before that dealt a serious blow to the former president’s business empire. The ruling, which found that Mr. Trump had inflated the value of his holdings to win […]
Read More