Good morning! The past two weeks have brought a sobering mix of tragedy, transformation, and big-ticket bets across New York real estate.

The fatal Midtown office shooting that claimed the life of Blackstone exec Wesley LePatner cast a shadow over the commercial sector, just as WeWork signed its first NYC lease since 2019 and Verizon doubled down at Penn 2.

Meanwhile, investors are still hunting opportunity: SL Green and Jeff Sutton scooped up Times Square debt at a 30% discount, and Pacific Urban paid $83M for a rent-stabilized complex in Williamsburg.

Need assistance with real estate? Our official partner, Nest Seekers International, can help you buy, sell, rent, or invest anywhere in the world. Get in touch here.

Looking to sublet your apartment? List it here for free.

A transformative wave of ultra-luxury development is reshaping the Upper West Side. At 50 W. 66th Street, a nearly completed, 775-foot tower is now officially the tallest building on the UWS, offering 127 opulent condos priced between $6 million and $85 million.

A second tower proposed at 77 W. 66th Street could soar up to 1,200 feet, rivaling the scale of late‑2020s supertalls on Billionaires’ Row.

These megaprojects are fueled in part by a zoning loophole dating to 1993, allowing Midtown-style development in this otherwise low-rise residential area.

While Extell cites full zoning compliance and has tentatively offered voluntary commitments to affordable housing, neighborhood groups—including Landmark West—and City Council Member Gale Brewer argue that the developments lack meaningful community benefit, worsen affordability, and cast troubling shadows over Central Park.

Takeaway: New York’s luxury market isn’t just rebounding—it’s expanding. The move to bring supertall, ultra‑wealthy towers into historically residential neighborhoods like Lincoln Square signals that no part of Manhattan is off-limits to high-end development.

But while developers chase skyline prestige, residents are left grappling with zoning loopholes, rising inequality, and vanishing neighborhood character.

For buyers, this means new inventory at the top of the market, but for the city, it’s a flashing neon question: Who is NYC being built for?

When the team that co-founded Zillow and grew it into a $16b real estate leader starts a new company, investors notice. That's why top firms like SoftBank invested in Pacaso.

Pacaso is transforming the $1.3T vacation home market through a sleek co-ownership model, making second homes more accessible than ever. 

They’ve already generated $100M+ in gross profits and helped over 1,500 homeowners unlock luxury living.

Now, the company is focused on international expansion – achieving record-breaking sales in Paris, securing 7 homes in Cabo, and recently acquiring their most valuable European property yet in London.

The best part? You can join them as an investor for just $2.90/share right now. Grow with Pacaso as an investor today.*

Dealmaking & Latest Developments

Need help with real estate? Our official partner, Nest Seekers International, can help you buy, sell, rent, or invest, anywhere in the world. Get in touch here.