*** Fed highlights CRE stress as office malaise spreads to bank balance sheets  Central bank warns regional lenders pressured by high rates, low valuations The Federal Reserve is increasingly concerned about commercial real estate (CRE), specifically regarding office-heavy loans at community and regional banks. The Fed's recent report highlights issues such as elevated interest rates, tighter underwriting standards, and declining commercial property values, which may complica

*** JPMorgan Is Planning to Build London’s Biggest Office Block Under CEO Jamie Dimon, the bank is working on a huge new tower in Canary Wharf, Britain’s dockland-turned-financial center JPMorgan Chase, led by Jamie Dimon, is set to build London's largest office block in Canary Wharf, due for completion in the 2030s. The new 3-million-square-foot tower will accommodate 12,000 employees, representing half of the bank’s workforce in the UK, its largest European market. Dimon’s

*** Related, Oxford Sell Hudson Yards Equinox Hotel For $541M Mori Trust, a Tokyo-based real estate investment firm, has acquired Floors 1 through 38 of 35 Hudson Yards, including the Equinox Hotel New York, in a $541M deal announced Monday. Related Companies and Oxford Properties sold the 490K SF portion of the 1.1M SF tower as part of the $25B Hudson Yards project. The building's office space is fully leased, while retail occupancy stands at 73%, featuring tenants such as S

*** Amazon to cut nearly 700 NYC jobs Amazon is laying off nearly 700 corporate workers in New York City as part of a larger workforce reduction that totals 14,000 positions. The layoffs affect 233 employees at the Manhattan West office and 182 at the New York Tech Hub, with additional cuts at seven other locations in Manhattan. The current number of Amazon employees in New York is unclear, but Mayor Eric Adams noted in 2023 that the company had created 18,000 jobs in the reg