C Land Realty Finalizes Major Logistics Center Deal in NJ • C Land Realty has successfully brokered a long-term lease agreement for a 50,000-square-foot cold chain logistics center located in Northern New Jersey. • The subject of this transaction is a 52,304-square-foot logistics and refrigeration facility located in North Bergen, Hudson County, New Jersey. Situated in a strategic logistics hub,...
San Francisco’s AI Boom Fuels Record Sale in Bay Area Town A gated estate in California’s Hillsborough has sold for $70 million— double the previous record for the affluent town, according to the listing agent. After being shopped off-market late last year, the property just outside San Francisco was listed for $88 million in February. Listing agent Jennifer Gilson of Golden Gate Sotheby’s...
Deepening Polarization in the Housing Market by Price Point Polarization between luxury homes and first-time (starter) homes is deepening in the domestic housing market. According to a report by real estate data firm Zillow, cited recently by Fox Business, contrasting trends have emerged: demand for luxury homes is surging, while demand for starter homes is slowing alongside an increase...
$100,000 H-1B Fee Blocked Again in Court of Appeals The Donald Trump administration's attempt to increase the application fee for the H-1B specialty occupation visa to $100,000 has hit another roadblock. Reuters reported on the 24th that the U.S. Court of Appeals for the First Circuit, based in Boston, rejected the Trump administration's request to stay the effect of a lower court...
Broker Fees Hinder Residential Mobility • Federal Appeals Court Dismisses Lawsuit Against FARE Act. Ordinance Banning Shift of Broker Fees to Tenants Maintained. • On the 13th, the U.S. Court of Appeals for the Second Circuit dismissed the plaintiffs' claims in a lawsuit filed by New York City landlords and real estate brokerage groups opposing an ordinance (the FARE Act) that prohibits...
Pal Park Wins Lawsuit Against Former Administrator Former Administrator Lorenzo ordered to return public funds received over $270,000 in sick leave and vacation pay. The Borough of Palisades Park, New Jersey (hereinafter referred to as Pal Park), has won its lawsuit seeking the return of public funds filed against former Administrator David Lorenzo. The court ordered Lorenzo to "return more...
NJ Finalizes $60.7 Billion Budget Governor Murphy Signs FY 2026–2027 Budget Proposal Includes Expansion of Property Tax Relief and Increased Investment in Education. The state government plans to provide a total of over $4.1 billion in tax relief through three property tax support programs: ANCHOR: A support program for homeowners and renters. Stay NJ: A property tax relief program...
U.S. New Home Sales Fell in May The rate of new home sales fell in May, according to a report released on Wednesday by the Census Bureau and the Department of Housing and Urban Development. Sales of new single-family homes fell to 580,000 in May, from 626,000 in April, the report said. A consensus of economists polled by The Wall Street Journal expected 632,000 sales in May. The estimate...
Second Koreatown in Manhattan… ‘35th Geel’ Opens. • Koreatown, which has grown around Manhattan's 32nd Street over the past 40 years, is facing a new phase of expansion. • As the so-called ‘Koreatown 2.0’ project—which integrates Korean brands and K-content—gets underway, expectations for the creation of a second Koreatown are rising. • PD Properties (Co-CEOs Tony Park and...
Existing Home Sales Reach Highest Level in Five Months • Existing home sales across the United States rose more than expected in May, signaling a potential improvement in the housing market. • The National Association of Realtors (NAR) reported that existing home sales reached an annualized rate of 4.17 million units in May, adjusted for seasonal factors, representing a 3.2% increase from...
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