Happy 4th of July!

Joseph Sitt’s Thor Equities is scrapping plans for an 800,000-square-foot office complex on the Red Hook shoreline, a source told The Real Deal. Instead, it now plans to build last-mile warehousing on the site. In October, another source with knowledge of Sitt’s thinking said the developer was torn between pursuing a plan to build a […]

Home Depot bought two Bronx properties for $40 million, about two weeks after the retailer filed plans to build a new 133,000-square-foot store in Queens. The home improvement supplier dropped $40 million for two commercial buildings along East Gun Hill Road, near the Bay Plaza Shopping Center in the Bronx. The seller was Madison International […]

Keller Williams Midtown has lost another CEO — the third in the past year. This one lasted just nine months on the job. Michael Guerra, who was hired in June, was forced out earlier this week, sources said. Guerra, who spent many years at Douglas Elliman, was hired after the Midtown franchise lost two other […]

After the Sitex Group sold a Red Hook logistics site for a whopping $303 million, the industrial real estate firm has gone on a buying spree. Most recently in New York, firm bought a trio of industrial buildings in Ridgewood for $36 million, according to a public document filed Friday with the city’s finance department. […]

Just as Sears is emerging from bankruptcy, another major retailer battered by e-commerce is entering into it. Payless ShoeSource will shutter all 2,300 stores when it files for bankruptcy later this month, according to Reuters. It’s the second time the Topeka, Kansas-based discount shoe chain has filed for bankruptcy in two years. It was one […]

There are a couple of real estate events coming up! On Feb.19, Bisnow is hosting its NYC CRE Tech Summit for 2019 at 160 Varick Street. Attend the event for networking opportunities, along with discussions among industry leaders on what innovations will impact real estate transactions. Speakers include Scott Rechler of RXR Realty and Kevin […]