CEO Report New York
RESIDENTIAL REAL ESTATE
A new report released by StreetEasy found that New York home values have gone up 30 percent since November 2011. The group examines changes in home values over the decade following the Great Recession and reports over 450,000 home sales recorded in the city during that time period with a total value of over $40 billion. Read more at Curbed New York.
J.D. Power release its 2018 North America Airport Satisfaction Study and ranked LaGuardia Airport and Newark Liberty International last in the large- and mega-airport categories, respectively. JFK came it at No. 14 out of the 19 airports in the mega category. Read more at Fox News.
COMMERCIAL REAL ESTATE
With the signing of a 258,344-square-foot lease at Penn Plaza, WeWork controls 5.2 million square feet of space in New York City, passing JPMorgan Chase & Co. as the largest office tenant. The coworking provider is also reported in talks to lease another 200,000 square feet at 1 World Trade Center. Read more at the New York Business Journal.
Research firm eMarketer released a report in which it predicts Amazon will grow its share of the US digital ad market to 4.2 percent, putting it in third place behind Google and Facebook. The ecommerce giant’s mobile ad sales this year are projected to increase $500 million from the year prior to $1.6 billion. Read more at CNN.
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RESIDENTIAL REAL ESTATE Adam America and CGI Strategies unveiled rendering of their 11-story South Slope condo project, Arbor Eighteen. Designed by Isaac & Stern Architects, the building will feature 73 apartments, 29 of which will have a private outdoor space....read more
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