Al Stemp

Despite high hopes for a rebound, the first quarter of this year saw a continued decline in CRE transaction volume. What's more striking is that this decline is evident even when measured in terms of space, rather than dollars, transacted. Senior CRE Economist @XanderSnyder examines this decline in volume and what may spark a recovery. #cre #realestateinvesting

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Is the national multifamily market turning? Blackstone thinks so. According to the story linked below from the Wall Street Journal, Blackstone just spent $10 billion to buy AIR Communities, which owns 76 projects in coastal American markets, including Los Angeles. The story quotes its president saying Blackstone is “not waiting for the all-clear sign and believe[s] the best investments are made during times of uncertainty.”   Especially when it comes to Southern California, where tenant demand is extraordinarily high, we are telling our clients the same. Check out the article. #realestate #realestateinvestor #realestateinvesting #multifamily https://lnkd.in/e5uP2gfY

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Apartment sales have seen a significant downturn, falling 25% year-over-year to $20.6 billion in Q1, amidst fluctuating market dynamics. With cap rates on the rise and major deals influencing future forecasts, it's crucial to understand the implications for investors, lenders, and property managers. Let's explore the challenges and opportunities in the current landscape together. #RealEstateInvestment #ApartmentMarket #LegalInsight" https://lnkd.in/dHApj9dR

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Checkout our most recent survey of commercial real estate leaders to find out what they see as the challenges and opportunities for the upcoming 12 months.

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Highlights from our 2024 Real Estate State of the Market Survey reveal the most attractive asset classes and favored locations, according to CRE leaders. Read more in Commercial Property Executive. #CRE #realestate #commercialrealestate

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Jon Fascitelli, Chief Executive Officer at HBSE Real Estate, participated in the session, Hyperscale Design, Investment and Development, on May 7 at the Global Real Estate Summit. If you missed the live session, watch the full video today. #CRE #realestate #DLAPiperstateofthemarket #DLARESummit

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Rising Demand Outpaces Rising Supply Brooklyn Becomes a “Seller’s” Market The #Brooklyn real estate market significantly improved in May compared to April, with an uptick in contract volume and an increase in supply. However, demand and total supply remained lower than in May of the previous year. Contract volume increased by 10% month over month but declined by 11% year over year, while supply rose by 5% month over month and was 1% lower than last year. Despite the year-over-year decline, the short-term surge in demand is notable. With demand rising faster than supply, listing discounts have decreased, and prices have increased. According to the Elegran | Forbes Global Properties Brooklyn Leverage Index, these dynamics have shifted the market slightly in favor of sellers. While overall demand has fallen more than supply over the past year, the recent spring uptick in demand has outpaced supply, creating a more competitive market. As we move into the summer months, steady demand is expected to continue. Buyers should prepare for heightened competition, with fewer new-to-market properties and more existing listings being taken off the market. Read the full report: https://lnkd.in/gD59DvEi Forbes Global Properties | #ForbesGlobalProperties #Elegran #WhereYouBelong #MarketCommentary #MarketUpdate #RealEstate #Brooklyn #InterestRate #Mortgage #NewHome #Buy #Sell #Invest #Rent

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The combination of higher interest rates and decreased demand for office space has put commercial property owners in a tough spot. But lenders also face significant headwinds, as many are overexposed to commercial real estate and have money out on properties that no longer support the debt. How this plays out on a macro scale is anyone's guess. But how any individual situation turns out is often dependent on how creative and aggressive your counsel can be – either on the borrower or the lender side. My objective is thus always to swiftly and aggressively exercise remedies for lenders, and look for escape hatches and opportunities to punch back for borrowers.

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Law Firms are at the forefront of office leasing trends today! I have supported several prominent firms in this area, including Miller Barondess, Cooley, Kasowitz Benson Torres, Blank Rome, Pryor Cashman, and more. Our focus is on driving per-partner profitability. Interested in learning more? Feel free to DM me for further insights or complimentary information. #LawFirms #OfficeLeasing #Profitability

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Interesting (and encouraging) perspective from the leaders of one of the biggest (if not biggest) global real estate investors….

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Debt Looms, But Buyers See Opportunity in Availability of Distressed Assets. With an estimated $1 trillion in commercial real estate debt coming due before the end of 2025, an overwhelming 96 percent of respondents indicated that challenges with refinancing will have an impact on the industry in the next 12 months. #LasVegasCommercialRealEstateSalesAndLeasing

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Highlights from our 2024 Real Estate State of the Market Survey reveal the most attractive asset classes and favored locations, according to CRE leaders. Read more in Commercial Property Executive. #CRE #realestate #commercialrealestate

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Multifamily transaction volume has fallen to multi-year lows, levels comparable to the early pandemic days. Senior Commercial Real Estate Economist Xander Snyder investigates what types of buildings are trading now, and a possible trend toward urbanization. #FirstAmEcon #CommercialRealEstate #MultifamilyRealEstate

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Sublease additions dropped significantly by over 40% year-over-year in Q1 2024. Growth-minded tenants are seizing the opportunity to acquire higher-quality spaces, with notable sublease transactions in the Bay Area and New York, including ByteDance’s163,000-s.f. sublease of Roku’s space in Silicon Valley. In Q2, the momentum continues with the New Jersey Institute of Technology securing a 75,000-s.f. sublease at 494 Broad Street in Newark. The demand for large-block, high-quality sublease listings remains strong, with limited availability as Carvana subleased more than 40,000 s.f. of its Marina Heights office campus to LPL Financial in April. Backfill activity is driving the decline in national sublease availability, which decreased by 2.6 million s.f. in Q1, now standing 16 BPS below peak sublease availability rates recorded in Q3 2023. #RealEstate #CommercialRealEstate #Sublease #MarketTrends

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