Airbnb’s IPO roadshow, now in the Zoom waiting room

Airbnb’s IPO roadshow is looking more and more like a staycation. After filing confidential plans to go public last month, the short-term rental company will be looking to drum up investor support virtually, joining several other high-profile startups that have embraced e-roadshows and remote IPOs during the pandemic. “No one is getting in a room together,” said Jocelyn Arel, a partner at the law firm Goodwin Procter, reflecting on the shift to virtual roadshows in

source https://therealdeal.com/2020/09/02/airbnbs-ipo-roadshow-now-in-the-zoom-waiting-room/

Got space? Manhattan office availability hits 7-year high

Manhattan’s office real estate market weakened in August as leasing volume was down 21 percent from a year ago while the availability rate hit a seven-year high, according to a monthly market report by Colliers International. Manhattan’s availability rate in August jumped by 0.8 percentage points from July to 11.8 percent, the highest since 2013. The rate is 2.1 percentage points higher than a year ago. The spike resulted partly from net sublet availability increasing

source https://therealdeal.com/2020/09/02/got-space-manhattan-office-availability-hits-7-year-high/

Evictions banned through December for most US tenants

The Trump administration today announced sweeping eviction protections in light of the health crisis. The public health order, a draft of which the Centers for Disease Control posted Tuesday afternoon, will halt evictions from Sept. 4 through the end of the year for residential tenants who qualify. To be eligible, tenants must file a form to their landlord declaring they cannot pay rent, have availed themselves of available assistance and make less than $99,000 per

source https://therealdeal.com/2020/09/01/national-eviction-ban-extended-through-december/

Chetrit battles Discovery Channel at 850 3rd Avenue

As people spend more evenings at home, media and television companies are benefiting from a largely captive audience. That’s one reason Discovery Communications should pay rent at 850 Third Avenue, according to Michael Chetrit, principal at Chetrit Group, who is suing its entertainment industry tenant for June and July rent. Discovery’s lease expired at the end of May, but Chetrit says it did not vacate. Discovery — owner of the Discovery Channel, HGTV, Food Network,

source https://therealdeal.com/2020/09/01/chetrit-battles-discovery-channel-at-850-3rd-avenue/

Future City: A weekly guide to everything proptech

Investors have been pouring billions of dollars a year into proptech. The Real Deal has been tracking the exponential growth of the industry from its humble beginnings, such as startup Sunflower labs, to its IPO aspirations such as the highly anticipated AirBNB offering. Future City is The Real Deal’s weekly newsletter providing what you need to know about the technology that is poised to change real estate. Sent each Friday, the popular and readable newsletter

source https://therealdeal.com/2020/09/01/future-city-a-weekly-guide-to-everything-proptech/

Cindat looks to sell stake in Manhattan hotel portfolio at discount

A Chinese private equity firm is looking to sell a stake in its large Manhattan hospitality portfolio at a discount, in one of the largest hotel offerings to hit the market since the start of the pandemic. Cindat USA is looking to sell a preferred equity stake in a portfolio of seven select-service Manhattan hotels it bought in 2016 as part of a joint-venture with Hersha Hospitality Trust. The company, which is backed by China’s

source https://therealdeal.com/2020/09/01/cindat-looks-to-sell-manhattan-hotel-portfolio-at-discount/

Amazon opens first online-only Whole Foods, in Industry City

As more consumers turn to pick-up and delivery grocery options, Whole Foods has opened its first online-only store in Industry City. Amazon, which owns the grocery chain, announced that the store opened Tuesday at the industrial and retail campus in Sunset Park, Brooklyn, owned by Jamestown Properties. The online retailer has been planning the new store format for more than a year, well before the pandemic increased demand for such services. Amazon has temporarily turned

source https://therealdeal.com/2020/09/01/amazon-opens-first-online-only-whole-foods-in-industry-city/