Konrad Putzier

Developers look to niche industries as offices struggle and apartment-rent growth slows.

The 19.6% of office space that isn’t leased in major U.S. cities is the highest since at least 1979.

SL Green says that skepticism about the value of its 245 Park Ave. sale is misplaced.

When SL Green Realty announced the sale of a 49.9% stake in a Manhattan office tower in June, the deal valued the building at around $2 billion. It was one of the largest U.S. office deals of the year, boosting the company’s stock about 20% that day and helping buoy the beleaguered New York office market. SL Green and other investment firms agreed to sell the buyer, Mori Trust, more than $500 million worth of the building’s debt at a roughly 6% discount, said people familiar with the sale.

この数十年で最も深刻な危機に直面している米オフィスビル業界では、保有物件の評価額を高めるために現金の提供や隠れ値引きといった金融手法に頼る所有者が増えている。

Concrete accounts for more than 7% of global carbon emissions, according to some estimates. That is roughly the same as the CO2 produced by all of India and more than double the amount produced by the global aviation industry.

The pullback marks a sharp reversal after years when companies had been bolstering their office footprints by adding millions of square feet of space.

The pullback marks a sharp reversal after years when companies had been bolstering their office footprints by adding millions of square feet of space.

Airbnb hosts are emerging as a political force, forming advocacy groups across the U.S. that challenge legislation designed to restrict short-term rentals.

Brad Sumrok’s pitch drew thousands of people seeking riches in rental apartment buildings but trouble now looms for many.