MANHATTAN BEACH, CA — A public hearing on a proposed new 162-room hotel with full alcohol service and a separate retail and office building at 600 South Sepulveda Boulevard will be held this Wednesday, Oct. 14 when the Manhattan Beach Planning Commission meets at 3 p.m.
… Read More
The site is a 65,419 square-foot lot with street frontage along Sepulveda Boulevard, Tennyson Street and Chabela Drive. An El Torito restaurant with full alcohol service occupied the existing 8,500 square-foot restaurant building on the site until vacating the space late in 2018. Skechers has been occupying the site since 2019, using the restaurant building as a corporate cafeteria and meeting space while using the parking lot for overflow parking for Skechers employees impacted by Skechers construction of new office buildings along Sepulveda Boulevard. The existing restaurant building would be demolished.
City staff is recommending that the Planning Commission approve the master use permit
… Read More
- The median rent in Manhattan plummeted 11% to $3,036 last month — the lowest its been since 2013.
- The lower rents, accompanied by a number of concessions, are a result of record-high apartment vacancies, according to a report from Miller Samuel and Douglas Elliman.
- Almost 16,000 apartments sat empty in September, as the New York City exodus seemingly carries on amid the coronavirus pandemic.
- Visit Business Insider’s homepage for more stories.
Thousands upon thousands of Manhattan apartments are just sitting empty right now.
And the mounting number of vacancies are forcing landlords to bring rents down to the lowest they’ve been since 2013.
A new analysis by Miller Samuel and Douglas Elliman found that the number of Manhattan apartment listings skyrocketed last month, Bloomberg reported. Almost 16,000 apartments sat vacant — the most since 2006, when these records started being kept.
This time last year, roughly 5,300 apartments were vacant.