COMMERCIAL REAL ESTATE
The Walt Disney Company announced it will relocate its New York operations from the Upper West Side to Four Hudson Square, signing a 99-year lease with Trinity Church for $650 million. The company plans to construct a one-million-square-foot complex that will house ABC headquarters, WABC News, offices, production facilities and studios. Read more at The New York Times.
RESIDENTIAL REAL ESTATE
Developer Chris Xu’s latest project at 23-14 44th Drive in Queens will be the borough’s tallest at 778 feet upon completion. Construction on the 802-unit condo development is expected to be complete by 2022. Read more at Curbed New York.
New York-based music publishing firm, One77 Music, has launched with 6,000 songs on file and $27 million in investments led by private equity firm Virgo Investment Group. The firm has partnered with Kobalt Music to serve as its global administrator. Read more at the New York Business Journal.
Data from the Department of Labor shows the number of available jobs outpaced the number of unemployed workers last month with 6.64 million open positions and 6 million people collecting unemployment. The Department also found that a record number people are quitting their jobs, which is seen as a positive sign. Read more at AP News.
An analysis conducted by Savingforcollege.com found that while the average student loan debt upon graduating with a bachelor’s degree in 2016 (the last year for which government data is available) has increased just one percent since 2012, their parents’ debt for loans that went to assist with paying for their education increased a whopping 19.2 percent. Read more at Market Watch.