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  1. David Goldsmith

    Buy Signal #1? Market pulse seems to be bottoming

    As I have said in the past the problem is Market Pulse is currently being driven up by large amounts of Off Market. I'm not sure booming Off Market would indicate anything good is happening in the market for either buyers or sellers.
  2. David Goldsmith

    Is this the end of expensive office space in New York??

    https://bigindynews.com/business/new-yorks-zombie-office-towers-teeter-as-interest-rates-rise/amp/ New York’s ‘zombie’ office towers teeter as interest rates rise During a prolonged bull market fuelled by historically low interest rates and nearly free money Doug Harmon and his team presided...
  3. David Goldsmith

    Are developers playing "chicken" with the market?

    Mixed news this week: Huge jump from Thanksgiving week (50% in contracts volume and 250% in dollar volume!) but massively down YOY (almost 2/3 drop in contracts). This week's New Development Report from Sotheby's Kevin Brown Team.
  4. David Goldsmith

    How many agents is too many?

    “There are hundreds of thousands of real estate agents who are not going to be practising because people are buying and selling fewer homes,” said Mike DelPrete, a scholar-in-residence at the University of Colorado Boulder. “It’s like a silent culling of the ranks.”...
  5. David Goldsmith

    REITs Limiting Redemption

    https://www.businesstimes.com.sg/companies-markets/reits-property/blackstones-us69b-real-estate-giant-hits-redemption-limit Blackstone’s US$69b real estate giant hits redemption limit Blackstone Real Estate Income Trust has been facing withdrawal requests exceeding its quarterly limit, a major...
  6. David Goldsmith

    REITs Limiting Redemption

    I personally think this is a big deal. Ownership of publicly traded REITs is supposed to be extremely liquid. But now multiple large REITs have limited redemption. https://www.barrons.com/articles/starwood-reit-blackstone-breit-withdrawal-limits-51670167909 Starwood, Like Blackstone, Limits...
  7. David Goldsmith

    Still doing 1400+ deals a month..but for how long?

    As far as I can tell November 2022 contracts signed were 8% below 2019 level.
  8. David Goldsmith

    If your partners are AirBnb, WeWork and Covene...

    If you still think AirBnb and other short term rental platforms don't have a great impact on the stock of long term rentals available for the actual residents of cities then check this out: NYC Has More Airbnb Listings Than Long-Term Rental Units...
  9. David Goldsmith

    Still doing 1400+ deals a month..but for how long?

    From Josh Rubin and Mark Chin's the insider newsletter.
  10. David Goldsmith

    iBuyers Making Moves

    https://www.realtrends.com/articles/opendoor-ceo-eric-wu-steps-down-amid-turbulence/ Opendoor CEO Eric Wu steps down amid turbulence CFO Carrie Wheeler to lead the struggling company, which lost nearly $1B in Q3 2022 Opendoor Technologies CEO Eric Wu is stepping down at the iBuyer amid...
  11. David Goldsmith

    The acceleration of the retail apocalypse under Coronavirus

    https://therealdeal.com/2022/11/28/black-friday-store-traffic-jumps-but-sales-dont/ Black Friday store traffic jumps, but sales don’t Shoppers showed less fear of Covid, more fear of overspending Black Friday proved to be a mixed shopping bag for retailers across the country. The traditional...
  12. David Goldsmith

    Machine Learning Program For Rent Optimization Comes Under Scrutiny

    https://therealdeal.com/2022/11/23/department-of-justice-probing-realpage/ Justice Department investigating RealPage Proptech company is suspected of facilitating collusion among landlords Class-action lawsuits are not the only problem facing RealPage: The Department of Justice has opened an...
  13. David Goldsmith

    If retail landlords didn't have enough problems already

    https://therealdeal.com/2022/11/23/back-on-top-fifth-avenue-has-worlds-priciest-retail-rents/ Back on top: Fifth Avenue has world’s priciest retail rents Upper portion of Midtown corridor reclaims top spot after 5 years The coffers of Fifth Avenue retail landlords are filling up again. Upper...
  14. David Goldsmith

    Is this the end of expensive office space in New York??

    https://www.cnet.com/news/social-media/meta-scales-back-on-new-york-office-space-amid-company-restructuring/ Meta Scales Back on New York Office Space Amid Belt-Tightening It reportedly won't renew a lease on some office space in Manhattan's Hudson Yards. Meta is scaling back its office space...
  15. David Goldsmith

    Is this the end of expensive office space in New York??

    https://therealdeal.com/2022/11/22/kkr-dumps-manhattan-office-plans/ KKR dumps Manhattan office plans Private equity giant eyed 300K sf at Tishman Speyer tower KKR is the latest firm to bail on office plans as the sector continues to be shaped by remote work. The private equity giant was...
  16. David Goldsmith

    Do We Really Want Casinos In NYC?

    https://therealdeal.com/2022/11/21/soloviev-bets-long-dormant-midtown-east-site-in-casino-sweepstakes Soloviev bets long-dormant Midtown East site in casino sweepstakes Scion to pitch hotel, entertainment complex 20 years after Sheldon Solow acquired site Stefan Soloviev is the latest to gamble...
  17. David Goldsmith

    Do We Really Want Casinos In NYC?

    Doers anyone remember why we got rid of the OTB parlors? https://www.nytimes.com/2010/12/09/nyregion/09otb.html Have we not learned a lesson from what a disaster legalized casinos have been for Atlantic City? https://geekinsider.com/why-did-atlantic-city-casinos-fail/ The legalization of...
  18. David Goldsmith

    Is Compass the next WeWork?

    https://therealdeal.com/2022/12/01/compass-path-to-profitability-comes-into-view/ Compass’ path to profitability comes into view If brokerage hits Q4 revenue target of $1.3B and cuts expenses, it could break even Compass is facing a pivotal six-month stretch. As it aims for profitability, with...
  19. David Goldsmith

    If your partners are AirBnb, WeWork and Covene...

    https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2022/11/30/airbnb-launches-first-hosting-platform-for-apartment-tenants.html Airbnb launches platform allowing renters to host apartments, partnering with major landlords The company said a new page on its site will list so-called...
  20. David Goldsmith

    City v Suburbs

    I also think we are seeing a rise in the disconnect between what we see on media (especially social media) between the loudest voices and what the majority are actually doing/thinking/experiencing. Two examples I can think of: 1) There's been a huge rise in the discussion of "Urbanism"/YIMBY...
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