Tag: Real estate
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Neumann’s back! Founder Adam Neumann is trying to “purchase [WeWork] or its assets” out of bankruptcy, according to a letter from Neumann’s attorneys. Meet the New Founder, Same As the Old Founder Neumann built WeWork from the ground up, but his overspending and self-dealing tanked the company’s 2019 IPO. The…
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WeWork filed for bankruptcy last night as the weak office market led to huge losses. From Bloomberg: WeWork Inc. filed for bankruptcy, capping a tumultuous period that saw the once high-flying startup navigate a failed initial public offering, Covid-19 lockdowns, a blank-check merger and slow return-to-office trends. The company —…
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+ CRE, Finance, Investing, Money, NYC, Real estate, Startups, Stock Market, Stocks, Tech, Venture Capital+
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As skyscrapers stand empty, a crisis is brewing in commercial real estate. The amount of distressed CRE hit the highest level in 10 years, according to a new report from Bloomberg. The value of distressed US commercial real estate neared $80 billion in the third quarter, its highest level in…
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“On the screen before her was a figure she had never seen before, at least not on an ATM…$45 million, newly deposited in their joint account. It was Pellegrini’s bonus for the year….” Paolo Pellegrini’s wife Henrietta could hardly believe their good fortune. A few short years ago, Paolo had…
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+ Billionaires, Finance, Hedge funds, Investing, Money, Reading, Real estate, Stock Market, Stocks, Wall street+
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For many people, college is the most memorable time of their lives. Is Adam Neumann about to re-create it for adults? From a new report in Fortune: Neumann emerged on stage yesterday in a suit, rather than a T-shirt, I’ll note, and told us that the noncompete and nonsolicit agreements…
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+ Entrepreneur, Finance, Investing, Money, Real estate, Startups, Stock Market, Stocks, Tech, Venture Capital+
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When I was little, my mom and I used to love strolling through the Park Plaza Mall in Oshkosh, WI. Crowds of shoppers bustled past neon signs for Younkers and Maurice’s. Today, all of that is gone. All that remains are a few tomblike offices. The once-crowded corridors are so…
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“There are no buyers for empty office space at any price.” That’s a friend of mine who works in NYC commercial real estate. But landlords aren’t the only ones in deep trouble. I’m writing this post from my living room. Chances are, you’re reading it at home too. That means…
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Nearly a quarter of all New York City office space is vacant. Now, the pain is spreading to the city’s budget. From a report out this morning in Bloomberg: The atrium at 60 Wall Street was once a thoroughfare for thousands of Deutsche Bank AG employees. These days it’s eerily…
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“A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.” Berkshire Hathaway Vice Chairman Charles Munger has truly seen it all.…
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+ Business+ Berkshire Hathaway, Buffett, Commercial real estate, CRE, Finance, Investing, Markets, Money, Munger, Real estate, Stock Market, Stocks+
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Divvy Homes was supposed to help people achieve the American Dream. But some are only finding a nightmare. Get the blog before anyone else…subscribe! In a major investigation published this morning, Fast Company details widespread problems at the hot proptech startup. Divvy Homes buys the house you want and rents…
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+ Finance, Homeowner, Investing, Money, Proptech, Real estate, Silicon Valley, Startups, Tech, Venture Capital+
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Tremendous 