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January 5, 2021

This Week's N.Y. Deal Sheet

As the world eagerly put 2020 in the rearview mirror and looked toward 2021, some big leases, sales and financing deals closed.

TOP LEASES

This Week's N.Y. Deal Sheet

Justworks penned a 270K SF lease renewal at 55 Water St., according to Colliers’ Manhattan Office Market Snapshot for Q4 2020. The renewal was the second-largest signed in all of Manhattan during the final quarter of a tumultuous year for the office market. Justworks signed the original lease in 2018…

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Top Stories on Bisnow.com

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SoftBank Providing $200M To Keep Construction Company Katerra Afloat SoftBank Providing $200M To Keep Construction Company Katerra Afloat
Brookfield Asset Management Looks To Take CRE Subsidiary Private Brookfield Asset Management Looks To Take CRE Subsidiary Private
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The Sound Of Far-Off Thunder — China Curbs Lending To Property Developers

The Sound Of Far-Off Thunder — China Curbs Lending To Property Developers

Chinese financial regulators have imposed new rules restricting lending to property developers in an attempt to mitigate potential risks from the sector to the country’s financial system.New regulations brought in on 1 January mean state-owned banks must limit their loan exposure to the property sector to 40% or less, Bloomberg reports.

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Many Brokers Made More Money In 2020 Than The Year Before, New Study Shows

 

Global pandemic or not, just over a third of brokers across the country said they made more money in 2020 than in 2019. The news comes from a nationwide poll conducted in December by commercial real estate broker software company Apto and shared first with Bisnow.

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Here's What Won And Lost In Last Year's CMBS Market

Last year was a difficult one for the commercial mortgage-backed securities market, but it wasn't as bad as it could have been, experts now say. The coronavirus pandemic split CMBS according to property type, with hotels and retail taking the brunt of the crisis and everything else holding steady.

DBRS Morningstar now predicts that overall pandemic-related CRE valuation losses will be below that of the 2008-2009 downturn, even though properties backing loans that were sent to special servicing since March have suffered an average value decline of 24% since their origination, driven by losses in the hotel and retail sectors.

Read the full story here.

 
 
 
 
       
 
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