The Brooklyn Made Real Estate Show
About This Show
From the Ratner Team, this is the Brooklyn Made Real Estate Podcast, a show about Brooklyn real estate and the professionals behind one of the hottest real estate markets in the world.
Brooklyn Made Real Estate is a one-stop shop for anyone interested in New York real estate, getting connected with local experts and learning how to make smarter decisions and leveraging your assets.
Each week our show will feature real estate news and interviews with local professionals that we are eager for you to meet.
Most Recent Episode
New York Real Estate News
6 days ago
One of the leading stories of the past week is the growing popularity of the office space in Downtown Manhattan. Many creative companies are making the move from neighborhoods like SOHO and Chelsea to Lower Manhattan. More than 100 architecture and engineering firms plan to or already have migrated to Lower Manhattan over the last few years. Many of these firms fled climbing rents in Midtown South. Asking rents in Midtown South have been around $83 per square foot. Lower Manhattan has been catching up: Average asking rents there hit an all-time high of $62 per square foot this past May. A number of firms said that the area’s access to mass transit and new restaurants and businesses were key reasons to head Downtown. “If the Stock Exchange relocated, we could call it the Design District,” one commentator said. In financing news, RXR Realty secured $125 million in construction financing from JPMorgan Chase and People’s United Bank to fund its 363-unit rental development 810 Fulton Street in Clinton Hill. JPMorgan Chase bought $75 million worth of bonds, while People’s United chipped in $50 million. The deal cements JPMorgan’s status as one of New York’s most active construction lenders in 2017. The bank already pledged $900 million to Extell Development’s Central Park Tower project and $850 million to Harry Macklowe’s office-to-residential conversion at One Wall Street. In coworking space news, WeWork is now worth more than real estate investment trusts like Boston Properties and Vornado Realty Trust following the latest funding round that pegged its valuation at $20 billion, according to Forbes. Boston Properties’ market cap is $18.25 billion and Vornado’s is $17.7 billion. According to paperwork filed with the Delaware Secretary of State on June 30, WeWork issued 13.2 million new shares of preferred stock at $57.90. The fundraising follow
Episodes of This Show
7 days ago