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New York’s 700,000-Home Plan Faces Five Hard Tests
ESRT’s Offices Fill to 91.9% While Its Observatory Keeps Sinking
Vornado’s FFO Climbs as Manhattan Office Leasing Hits a Landlord’s Market
Wells Fargo Tops NYC Lender Rankings as the Top 20 Write $36B in Loans
The Newsletter

06 Jul

Good morning. Welcome back to CRE Daily!

RISING STAR

New York’s 700,000-Home Plan Faces Five Hard Tests
New York’s 700,000-Home Plan Faces Five Hard Tests

The city’s housing math is brutal: a 700,000-home gap and 1.4% vacancy, and Mamdani’s build plan now hinges on five hard tests.

THE TAKEAWAY

ESRT’s Offices Fill to 91.9% While Its Observatory Keeps Sinking
ESRT’s Offices Fill to 91.9% While Its Observatory Keeps Sinking

Empire State Realty Trust’s offices are filling up, but its famous tower’s observatory keeps dragging on earnings.

THE TAKEAWAY

Vornado’s FFO Climbs as Manhattan Office Leasing Hits a Landlord’s Market
Vornado’s FFO Climbs as Manhattan Office Leasing Hits a Landlord’s Market

Vornado’s quarter reads like a Manhattan office market tightening back toward landlords, with rents and occupancy climbing.

THE TAKEAWAY

Wells Fargo Tops NYC Lender Rankings as the Top 20 Write $36B in Loans
Wells Fargo Tops NYC Lender Rankings as the Top 20 Write $36B in Loans

New York’s biggest lenders wrote far larger checks this year, though the number of loans barely moved.

THE TAKEAWAY

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