Mortgage lenders face mass foreclosures due to extreme weather in under-insured areas

Floods, wildfires and other types of extreme weather are threatening not only the real estate industry but also the mortgage industry. Mortgage lenders are unprepared for widespread foreclosures as natural disasters increasingly hit areas where few borrowers have insured their properties against fire or flood damage, according to former Freddie Mac executive Ed Delgado. Assessing credit risk is a fundamental function of the mortgage industry, but lenders lack an understanding of “weather risk and where … [more]

WeWork is too big to avoid public responsibilities: Sam Zell

Adam Neumann, CEO of the recently rebranded We Company, is facing more blowback for leasing he has ownership interest in to WeWork. Billionaire real estate investor Sam Zell said WeWork’s size gives them “public responsibilities, including governance,” in an interview with Bloomberg television Thursday. The Equity Group Investments founder was referring to reports that The We Company’s CEO Adam Neumann is still personally buying buildings that are leased to the company’s co-working arm, WeWork, first … [more]

IN PHOTOS: REBNY’s 123rd Annual Banquet brings out real estate’s finest

All the biggest movers and shakers of the real estate industry were present for REBNY’s 123rd Annual Banquet on January 17. REBNY honored the industry’s distinguished leaders for their professional success and contributions to the industry including Diane M. Ramirez, chairman and CEO of Halstead Real Estate, who received The Bernard H….

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Taco Bell snags space in FiDi for new Cantina

Taco Bell is setting up shop in the Financial District.The fast-food chain signed a lease for 1,568 square feet at 60 Fulton Street, the Commercial Observer first reported.The company will bring its…

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Japanese Makeup Importer to Open First NYC Outpost on St. Marks Place

A shop selling imported Japanese health care and beauty products, Shibuyala, will open up its first New York City location on St. Marks Place later this year, Commercial Observer has learned. Shibuyala inked a deal for 2,000 square feet at 37 St. Marks Place between Second and Third Avenues, according to a spokeswoman for Winick […]

Fried Frank Hires Two Hogan Lovells Attorneys for REIT Group

International law firm Fried Frank has nabbed Stuart Barr and Cameron Crosby from Hogan Lovells, according to a press release from Fried Frank. The attorneys, who are experts in real estate investment trust transactions, have signed on as partners and began working out of the Washington, D.C. office on Jan. 10. Barr and Crosby have […]