Commercial News for 8/22/14
WSJ.com: Commercial Real Estate
Many Visitors but Few Tenants
Governors Island attracts many seasonal visitors but also faces many stumbling blocks in luring year-round tenants to the 172-acre off the southern tip of Manhattan.
Unions, Activists Align on Affordable Housing
A group of New York City construction unions have forged a coalition with affordable housing activists to ratchet up pressure on Mayor Bill de Blasio to require organized labor in the building of 80,000 lower-cost apartment units over the next decade.
Casinos Chase New York City Proximity
With three failing Atlantic City casinos slated to close their doors within the next month, officials near New York City are pushing shiny new gaming facilities harder than ever.
U.S. Home Size Levels Off, for Now at Least
The two-year trend of big houses getting even bigger appears to have peaked?at least for now?as more buyers seeking modest homes enter the market.
Marilyn Drank Here: Dive Bar Fights for Life
The owners of the Subway Inn, a dive bar on East 60th Street which, legend has it, quenched the thirst of Marilyn Monroe, wants a show of community support to help them avoid being evicted by a real estate development firm.
Hyatt Leads New Luxury Wave
A sign that luxury travel is back: a flurry of new $900-a-night hotels. A flagship for the Park Hyatt brand in New York set to open next week is leading the charge.
Warming to Rentals in China
The glut of vacant homes across China owned by small investors has fueled a cottage industry: companies that help owners rent their homes for short-term stays.