Beware of statistics, especially from interest groups pursuing an agenda. Construction unions, for example. They’re advancing a narrative that if you want a job done safely, it has to be done by them. Unions have been saying this for decades, but it’s amplified when a high-profile story like buckled columns at the former Pfizer building…
An 865,000-square-foot tower along Bryant Park is looking for a new owner. The office tower at 10 Bryant Park, also known as HSBC Tower, is seeking more than $800 million, sources familiar with the plans told Bloomberg. Newmark’s prolific deal-making team, made up of Adam Spies, Adam Doneger and Avery Silverstein, has been tapped to…
On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law. Under the OBBBA, the federal estate, lifetime gift and generation-skipping transfer (GST) tax exemption amounts increased to $15 million per individual, indexed for inflation. For many clients, this level of exemption eliminates the need for additional complex transfer tax planning….
Nearly 1,500 ships have been sitting idle in the Persian Gulf for close to five months, trapped since fighting between the US and Iran shut down movement through the Strait of Hormuz on February 28, 2026. Marine scientists now say the real danger from this standoff may not be on these ships at all, it…
New York City apartment developers are building fewer studio apartments as they seek to make an unpopular housing incentive work for their projects. Bisnow/Ciara Long Phipps Houses’ Kelly Biscuso, Stantec’s Daniel Cohen, Fogarty Finger’s Harshad Pillai, Fairstead’s Seth Hoffman, New York City Housing Partnership’s Jamie Smarr and Adler & Stachenfeld’s Alvin Schein onstage at Bisnow’s…
Google’s bigger-than-expected spike in spending on data centers and other AI infrastructure is rattling Wall Street. While it was the first of the Big Tech giants to report second-quarter earnings, and its competitors’ stock prices also dropped Thursday, analysts say the market plunge may not be a reflection of the larger sector’s data center spending spree. It may…
Let’s talk about this incredible shift we’re seeing in private-company valuations in recent years… Listen to the audio version of this article (generated by AI). I have said it before, and I will say it again: I do not buy IPOs (initial public offerings). That is why I warned investors to stay away from the…
ICYMI – Iran rejects Trump ceasefire offer carried by Iraqi PM, NYT reports !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}
Li Lecheng, China’s Minister of Industry and Information Technology, spoke at a press conference on July 23, 2026, in Chengdu, China, as part of the APEC Digital Weeks. Evelyn Cheng | CNBC CHENGDU, China — Governments increasingly want to control artificial intelligence, as companies release more powerful open-source models, a new multilateral statement indicates. The…
Lawmakers in Massachusetts are eyeing a change that could mean the end of single-family zoning in the state. Lawmakers inserted a provision into a major economic development bill, S.3178, that would allow two-family and residential duplexes in all residential districts that now allow single-family homes. The provision is aimed at addressing a shortage of housing,…