Blackstone Inc. is in advanced talks to acquire a 49% stake in One Manhattan West that values the skyscraper at $2.85 billion from a venture led by Brookfield Asset Management.
Initial jobless claims, a proxy for layoffs, inched up by 18,000 to 206,000 for the week ended Dec. 11 from a revised 188,000—the lowest level in 52 years. New jobless claims have been steadily declining throughout the year.
Landlords filled up 17 million square feet of additional real-estate space in open-air shopping centers last quarter, up 49% from 2019. The surge is propelled by increased foot traffic to grocery stores, curbside pickup and population shifts that favor suburban shopping.
An index of lithium prices doubled between May and November and is up some 240% for the year. The index is at its highest level in data going back five years.
U.S. employers posted 11 million open jobs in October, nearly matching a record high reached in July.
Puerto Rico’s hotel occupancy during the first 10 months of the year increased to 63.2%, compared with 33.7% for the same period last year. That is barely down from 65.3% in the same period in 2019.
Nasdaq is poised to beat the New York Stock Exchange in initial public offerings this year, far outpacing its crosstown rival during a record year for capital raised in U.S. public markets. IPOs at Nasdaq have raised $191 billion this year through Friday, compared with $109 billion for new listings at the NYSE.
Through November, some $3.5 billion in appraised property value had been wiped off the books of hotels due to losses and impeded operations from the pandemic. Updated appraisals collectively equated to a 22% loss in the market value for those properties versus what was recorded prior to Covid-19.
