New York

Shorenstein defaulted on $350M loan backed by Garment District office tower.

Disputes landlords' trade groups, says the number of units needing repairs has fallen.

QuadReal Property Group was the lender and Walker & Dunlop arranged the loan.

Median rent, nearly 21% above pre-pandemic level, heading back to record territory.

It has recovered jobs lost since the pandemic and 22.4% of the population is between 20 and 34 years old.

Public-private partnership with unions to build workforce housing is first in nation.

Owners of small apartment portfolios say 25% of units are vacant.

A partnership acquired the rights aiming to develop a Park Ave. office tower.