Good morning! NYC has lost $14B in income as 125K residents head for Florida. Hudson Yards might soon get a casino and housing tower, and Deloitte just leased nearly 75% of a planned Midtown skyscraper, a strong vote of confidence in the high-end office market.

In Florida, condo owners are rushing to sell, swamping the market. One NYC apartment building is paying residents to party, and Zillow is clashing with real estate brokers over exclusivity and control of listings.

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

One of the world’s most infamous unfinished skyscrapers may finally get a second life.

Goldin Finance 117, a 128-story, 597-meter (1,959-foot) tower in Tianjin once dubbed “The Walking Stick,” has stood abandoned since 2015, an eerie monument to China’s real estate excesses.

The project, launched in 2008 with dreams of luxury offices and a five-star hotel, was halted midway through construction after its billionaire developer’s empire, Goldin Properties, collapsed under financial pressure.

Nearly a decade later, Chinese state media report that construction is set to resume, backed by anonymous investors and, likely, a quiet nudge from the government.

The move comes as Beijing seeks to revive confidence in a property sector still reeling from the fallout of Evergrande and other major defaults.

The building’s history is grim: construction was paused in 2010, restarted, then frozen again in 2015 when funding dried up. Today, it’s a sealed shell—towering over Tianjin’s skyline as a steel-and-glass warning of speculative overreach.

Locals say it’s cursed. Analysts call it a symbol of the high-leverage, high-risk boom that once defined Chinese real estate.

Takeaway: Resuming work on Goldin 117 is as much about optics as occupancy. For investors eyeing a comeback in Chinese real estate, proceed with extreme due diligence, especially when the scaffolding's been up for a decade.

Dealmaking & Latest Developments

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