Patient family offices are buying deeply discounted retail, office and multifamily assets as larger investors hold back.

Vornado bought the McDonald’s building at 490 Eighth Ave., picking up transferable air rights near Penn Station in a small but strategic $12M deal. The move strengthens the company’s Penn District play.

NYU signed a 70‑year triple‑net master lease at 770 Broadway, funding the deal with a roughly $935M prepayment and transforming a landmarked NoHo block into a long‑term campus.

A single $59M Tribeca penthouse has been carved into two finished homes with new price tags as agents retool the crown unit to find a buyer.

Ilan Bracha’s IB Global paid $9.5M for 3 East 48th Street, the smaller neighbor to the Scribner Building in Midtown, setting up a possible redevelopment or retail play.

Chetrit Group plans to demolish a five‑story mixed‑use building at 9 East 36th Street in Midtown South, a move that would clear a narrow lot for potential redevelopment.

Developers want to convert the old Watchtower campus at 25–30 Columbia Heights into 661 apartments, with about a quarter permanently affordable. The rezoning is now in city review.

Following an endorsement visit from Mayor Mamdani, the City Council has officially approved a plan to bring roughly 200 affordable and supportive homes and a new community center to 1727 Amsterdam Ave.

Cladding panels are starting to go up on the 15‑story borough jail at 275 Atlantic Avenue, changing the look of Boerum Hill. The project will include 1,040 beds and ground‑floor community space.

Four long‑vacant Harlem lots are being developed into 34 subsidized homes. The project's $30.9M bill — about $909,000 per unit — raises fresh questions about building affordable housing.

A 1.3M‑sqft conversion of Chelsea’s 1891 Terminal Warehouse won a 2026 CoStar Impact Award after a tricky retrofit that kept a freight tunnel and reclaimed centuries‑old timbers.

Tredway's $88M purchase locks 602 Ocean Park units into rent stabilization and funds major repairs and resident services.

HPD Commissioner Dina Levy told City Council the agency may replace Housing Connect after data showed long approval and lease-up delays. Short-term pilots are already under way.