In this episode of The TreppWire Podcast, we dive into economic data and headlines of the week, including manufacturing and job openings figures, the implications of tariffs on the CRE market, and the thought that lending standards for commercial real estate (CRE) may be tightening. We discuss the inflection point for the office market after seeing some increased optimism and signs of activity, especially in NYC. We talk Blackstone’s big Midtown Manhattan office buy, the largest office-to-residential conversion in the U.S., as well as recent stories at anhattan’s MetLife Building. In retail, we cover Walmart’s mall purchase and Amazon’s physical store closures. We reflect on the narrative for apartments and the multifamily market at large, after the NMHC 2025 Annual Meeting. We wrap up the episode with our thoughts on the Super Bowl and highlight Kansas City, Philadelphia, and New Orleans market data from TreppCRE. Tune in now.

Episode Notes:

Economic Update (0:27)

Tariffs & Other Headwinds Impacting the Market (3:35)

Office Sector Activity (10:54)

Blackstone NYC Midtown Office Buy (13:16)

Largest Office to Resi Conversion in the U.S. (17:00)

Refinance at 3 Bryant Park (21:02)

Irvine Loan for Manhattan’s MetLife Building (25:24)

Walmart Pennsylvania Mall Purchase in Pennsylvania (28:07)

Amazon’s Physical Store Locations Closing (30:02)

Equinox is Becoming the Largest Retail Tenant in Manhattan (33:39)

NMHC 2025 Annual Meeting Recap (35:01)

Credit Stories in California & Texas (40:13)

Slice of Life: Kansas City vs. Philadelphia + Market Overview (42:37)

Trepp Connect (in NYC) on May 13-15, 2025 (46:31)

Shoutouts (49:16)

Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG

Questions or comments? Contact us at podcast@trepp.com.

Follow Trepp:

X: www.x.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

In this episode of The TreppWire Podcast, we examine how Chinese AI startup DeepSeek's sent shockwaves through tech markets, raising questions about data center demand. We analyze the Fed's decision to hold rates steady and discuss Trump's federal worker buyout offer impacting office demand. We break down Amazon's record-breaking lease in Miami, dig into an office loan value reduction in New York and special servicing transfer in Virginia. For retail, we discuss a loan value reduction in Chicago and a sale in West Palm Beach. We wrap up with several multifamily transactions in Arizona, Florida and Colorado. Tune in now. Episode Notes:

- DeepSeek and its market-moving debut (1:23)

- Return to office & Trump’s resignation offer for federal workers (8:12)

- Office activity: Amazon’s record-breaking lease in Miami (18:05)

- Rye Brook, NY Office Loan value reduction (25:09)

- Falls Church, VA Office loan sent to Special Servicing (31:22)

- Chicago Retail loan value reduction (33:19)

- West Palm Beach, FL Retail sales transaction (39:39)

- Multifamily transactions in Arizona, Florida and Colorado (41:09)

- Programming notes (46:00)

- Shoutouts (47:15)

Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG

Questions or comments? Contact us at podcast@trepp.com.

Follow Trepp:

X: www.x.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp

In this special guest episode of The TreppWire Podcast, we are joined by Ulysses Awsumb, Head of Research, and Melody Wright, Contributing Writer at MacroEdge, as well as Rachel Szymanski, Trepp’s Chief Economist, to discuss the current state of the real estate market and challenge common narratives. Drawing from their extensive research and on-the-ground observations, they share insights on housing inventory, affordability challenges, and demographic shifts affecting both residential and commercial sectors. We explore the disconnect between housing supply narratives and market realities, the impact of recent policy changes, and the complexities of new home construction. We also dive into the emerging trends in multifamily development and the future of housing affordability. Tune in now.

Episode notes:

- Introduction to MacroEdge and Guest Backgrounds (0:21)

- Current Housing Market Headlines and Executive Orders (5:43)

- Housing Shortage Narrative (8:29)

- Market Demographics and Population Shifts (21:28)

- Affordability Challenges and Market Misallocation (24:57)

- Key Factors Preventing Home Ownership (33:45)

Please take our listener feedback survey: www.surveymonkey.com/r/BMPXLHG

Questions or comments? Contact us at podcast@trepp.com.

Follow Trepp:

X: www.x.com/TreppWire

LinkedIn: www.linkedin.com/company/trepp