Commercial

Thor Equities Led Group Agrees to buy Manhattan’s 530 Fifth Ave. Building for $595 Million

A consortium of investors led by Thor Equities LLC, a major New York City-based property developer, has agreed to purchase the retail and office building at 530 Fifth Avenue, Manhattan, for a deal worth $595 million.

Increased Supply Controls Rising U.S. Apartment Rents

As the U.S. economy is still struggling with an uneven recovery, more people are opting to rent than to buy. This has driven up rental rates through the roof. However, a new report reveals that the pace, at which rates have been rising, is slowing down as supply increases.

Starwood Group Looking to Sell Upcoming Baccarat Hotel in New York City

Starwood Capital Group, the Barry Sternlicht-led international real estate and development group, is reportedly looking for a buyer for its upcoming Baccarat Hotel in New York City.