Milstein Center

Like elsewhere, Class A owners are hogging much of the post-pandemic demand, and that's sparking public-private moves to repurpose wide swathes of underutilized space. Professor Tomasz Piskorski is quoted. 

Developers, realtors and local officials on Tuesday held a groundbreaking ceremony for Hudson Yards’ first office tower -- a 48-story building scheduled to be finished by 2015. The project will create an estimated 23,000 construction jobs and space for more than 40,000 people to live or work, Mayor Michael Bloomberg said. The completion of Hudson Yards will take about a dozen years. It entails the construction of an $800 million platform to cover the existing rail tracks. 

Major banks agree to pay $20bn to settle mortgage-related legal disputes, in Wall Street's latest effort to cure its home-lending headache

New home sales fall in December