Exclusive: On Indian Creek, a nearly-completed mansion is coming on the market for $200 million. If it sold for close to that figure, the property would be the most expensive ever sold in Miami-Dade County. https://t.co/ewz0075Yyq ...

Sweden’s apartment prices delivered their largest monthly gain in a year, echoing other recent evidence that the Nordic country’s households are feeling more emboldened https://t.co/7dGfPe6y0K ...

Rim Country is increasingly popular with second-home buyers and retirees from the Phoenix area. The region is seeing spillover from Arizona’s more established markets, such as Prescott, Flagstaff and Pinetop-Lakeside. https://t.co/uXDMmbATRj ...

Financial Data and Key Metrics Changes - Third-quarter comparable FFO was $0.57 per share, compared to $0.52 per share for the same quarter last year, beating analyst consensus by $0.02 [19] - Same-store GAAP NOI for the New York business overall was up 9.1% for the quarter, while same-store cash NOI was down 7.4% [20] - The net debt-to-EBITDA ratio improved to 7.3 times from 8.6 times at the start of the year, with immediate liquidity of $2.6 billion [23] Business Line Data and Key Metrics Changes - During the first nine months of 2025, Vornado leased 3.7 million sq ft overall, with 2.8 million sq ft in Manhattan office [8] - Average starting rents for Manhattan office leasing during the first nine months were $99 per sq ft, with mark-to-markets of plus 11.9% GAAP and plus 8.3% cash [8] - In the third quarter, 21 New York office deals totaled 594,000 sq ft at starting rents of $103 per sq ft, with mark-to-markets of plus 15.7% GAAP and 10.4% cash [9] Market Data and Key Metrics Changes - Midtown core better building vacancy is now down to 6.2%, indicating a shift to a landlord's market [6] - Manhattan office leasing activity is on pace to exceed 40 million sq ft for the year, the highest since 2019 [7] - New York office occupancy increased to 88.4% from 86.7% last quarter, primarily due to leasing activity at Penn 2 [21] Company Strategy and Development Direction - The company is focused on the Penn District as a growth engine, with plans for a 475-unit rental residential building and retail transformation [11][12] - The acquisition of 623 Fifth Avenue is aimed at redeveloping it into a high-end boutique office building, with a projected yield of 9% [14][15] - The Manhattan retail market is showing strength, with tenants approaching landlords for early renewals as rents rise [16] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the demand for office space, noting that tenant demand is robust and broad-based across industries [6][7] - The company expects 2025 comparable FFO to be slightly higher than 2024, with significant earnings growth anticipated in 2027 as the full impact of Penn 1 and Penn 2 leases takes effect [20] - Management highlighted the strong financing market for New York City assets, with ample liquidity facilitating deals [22] Other Important Information - The company has generated $1.5 billion in net proceeds from sales and financings, paying down $900 million in debt and increasing cash by $500 million [23] - The signage revenue for 2025 is projected to be the highest year ever, benefiting from the unique control over signage in key locations [16][32] - The company is actively involved in the Penn Station transformation project, which is expected to enhance commercial development opportunities [37] Q&A Session Summary Question: How is the leasing strategy changing at Penn 2? - Rents have increased, with average rent at $112 per sq ft, and the company is confident in its approach to leasing the remaining space [25] Question: How will the leasing of 623 Fifth Avenue be approached? - The company plans to market the building with complete designs to attract high-end tenants, similar to the strategy used for 220 Central Park South [27] Question: What is the current signed-not-open pipeline in terms of dollar value? - The company indicated a projection of around $200 million in revenue over the next couple of years, with the bulk coming in 2027 [28] Question: What are the expectations for rent growth in the coming years? - Management expressed confidence that rent growth could exceed 20%-25% over the next four to five years due to strong demand and limited supply [38][39] Question: What are the plans for proceeds from non-core asset sales? - Proceeds could be used for various purposes, including strengthening the balance sheet or potential acquisitions, depending on market opportunities [42]

Market Trends - The U S rental market is experiencing easing prices, benefiting renters [1] - Tenant-friendly conditions are expected to persist well into next year and potentially beyond [1] Rental Market Dynamics - Renters in the U S have been receiving months of free rent this year [1]

Market Trends - Old homes are suddenly costing more than new ones [1]

Market Trends & Housing Affordability - Serhant CEO Ryan Serhant indicates that renting is more affordable than buying in most markets [1] - The report highlights that starter home prices remain above $1 million in many areas [1] Luxury Market - The luxury market remains strong [1] Media Channels - Bloomberg provides business news & analysis, market data, features, and profiles [1] - Bloomberg has multiple channels on X (formerly Twitter), Facebook, Instagram, TikTok, Reddit, and LinkedIn [1] - Bloomberg offers various content on YouTube, including Bloomberg Technology, Bloomberg Originals, Bloomberg Quicktake, and Bloomberg Espanol [1] - Bloomberg provides audio content through Bloomberg Radio and Bloomberg Podcasts [1]

Dubai-based Property Finder secures $250 million in debt from Ares, underlining the rising appeal of the UAE’s real estate market to global institutional funds https://t.co/TFKTaeKeJi ...

Core Viewpoint - The residential land in Fenggang Town, Dongguan, is being auctioned with a starting price of 397 million yuan, following a previous failed auction last year. The land is expected to be developed primarily for villa-style housing due to its favorable planning indicators and market demand for such properties [1][3]. Group 1: Land Auction Details - The land covers an area of approximately 44,000 square meters and has a starting total price of about 397 million yuan, with a starting floor price of approximately 8,202 yuan per square meter [1][3]. - The land is classified as urban residential land (R1 type), characterized by low-density residential buildings, high greenery rates, and a favorable environment [3]. - The plot has a planned construction period of three years, with the requirement for the winning bidder to commence construction within one year of land delivery and complete it by December 19, 2029 [3]. Group 2: Market Analysis - The current auction price and development requirements for the land remain consistent with those from the previous auction attempt last year [3]. - Industry experts express optimism regarding the land's development potential, citing strong market demand for villas in Fenggang due to a prolonged supply shortage [3]. - However, there are concerns about the overall inventory pressure in the Fenggang real estate market, with some projects priced below their construction costs, indicating a challenging supply-demand dynamic [3].

One of NYC's most desirable neighborhoods is getting just 51 new condos over the next three years. There will be plenty of competition for them https://t.co/1umbcnXFOb ...