The Real Deal - New York Real Estate News

Amazon opens its biggest office ever. Outcry ensues

Posted: 29 Aug 2020 11:00 AM PDT

Amazon just opened its largest office in the world, spanning 1.8 million square feet, in Hyderabad, India. It’s part of the e-commerce giant’s massive push in the second-most populous country, a move that not everyone is happy about, according to the New York Times. Namely, domestic retailers and elected officials. Amazon started construction on the massive office building in 2016. It has 49 elevators, a helipad, a cricket pitch, prayer rooms and a 24-hour cafeteria.

Urbanites bid up homes in vacation spots like Vail, Lake Tahoe

Posted: 29 Aug 2020 09:00 AM PDT

More and more urbanites are making permanent moves to towns that were predominately vacation retreats. The pandemic has boosted demand in places like Colorado’s Vail Valley and Lake Tahoe on the California-Nevada border. It is making for hot competition among homebuyers, according to the Wall Street Journal. Lake Tahoe’s inventory of unsold homes is down from 421 a year ago to just 60. Bidding wars are driving prices up. On the Nevada side, the median

Extended-stay hotels may protect some REITs from hospitality armageddon

Posted: 29 Aug 2020 06:00 AM PDT

The coronavirus pandemic has hammered the hospitality industry, with real estate investment trusts that own and manage hotels and resorts getting hit especially hard. But some REITs are relatively stable — specifically those with large holdings in the extended-stay and limited-service segments, according to the Wall Street Journal. Chatham Lodging Trust, Apple Hospitality and Summit Hotel Properties in particular have been able to keep the lights on in most of their hotels. Chatham, for example,