By Rebecca Picciotto
This is an edition of the Real Estate newsletter, a weekly briefing of the biggest commercial deals, news, analysis and trends in office, multifamily, retail and other commercial sectors. If you're not subscribed, sign up here.
Delmonico's has been a fixture of Wall Street's culinary scene since it opened in 1837. The historic steakhouse has served the likes of Abraham Lincoln, Mark Twain and Marilyn Monroe. Now, after almost 200 years, it's planning a second outpost in Midtown Manhattan. It's a sign that even as beef gets pricier, Americans aren't giving up steak frites. Kate King has the scoop.
Home sellers are turning into landlords -- by accident. These sellers are fed up watching their listings languish in an anemic housing market. Instead, they're reluctantly turning to the backup plan of renting their homes out. Nicole Friedman talks to some accidental landlords waiting out the slow market.
David Simon, the inveterate dealmaker who built his family's real-estate business into an empire, died on Sunday at 64 years old after a cancer diagnosis in 2024. As chief executive of Simon Property Group, he was both feared and admired. He ultimately built a portfolio of 206 million square-feet of retail real estate, the largest in the country. Suzanne Kapner and Kate look back at the mall king's legacy.
America's Original Steakhouse Is Expanding -- After Nearly 200 Years
When Delmonico's first opened around the corner from Wall Street in 1837, it coincided with a financial panic, bank failures and the popping of a real-estate bubble. But the steakhouse survived. And in the coming years, it would serve famous customers such as Abraham Lincoln and Mark Twain.
Now, nearly two centuries later, the restaurant that calls itself the first fine-dining spot in the U.S. is poised to open its second outpost in Midtown Manhattan next year.
Their Home Wouldn't Sell, So They Became America's Latest Accidental Landlords
With home sellers tired of watching their listings languish in a dreary housing market, more of them are opting to take their chances by renting out their homes.
A near-record share of rental listings fall into this category of accidental landlord. About 2.2% of rental listings on Zillow in November had previously been listed for sale, according to a Zillow analysis. That's the highest level since late 2022 when mortgage rates surged above 7%.
David Simon, Mall King Who Was Both Feared and Admired, Dies at 64
David Simon, who turned his family's real-estate business into the largest mall owner in the country, died Sunday after a cancer diagnosis in 2024. He was 64 years old.
During his more than three decades as Simon Property Group's chief executive, the inveterate dealmaker gobbled up competitors and defied critics, who said malls were obsolete. Over a decadeslong buying spree, he cobbled together an empire that spanned 250 properties and 206 million square feet -- giving Simon control of more retail space than anyone in the world.
Data Points
-- 22,366: The number of available New York homes in February, according to
the New York State Association of Realtors. That was the lowest number of
homes for sale since 1997 when the group started tracking this data.
-- 15.7%: The percentage of empty apartments in San Antonio according to
CoStar. That is the highest vacancy rate in the U.S., stealing the title
away from Austin, which is starting to rebound.
-- 297,045: The number of single-family homes and condos that were flipped
last year, the fewest since 2020, according to Attom. As home prices
remain high, flipping homes to turn a profit has become a less profitable
business model.
Beyond WSJ
-- Trumps, on a Deal-Making Spree, Turn Next to Transylvania (The New York
Times)
-- Judge Blocks Treasury Rule Requiring Disclosure Of All-Cash Real Estate
Buyers (Bisnow)
-- Housing Jumpstarts Revitalization of Herreid, S.D., Population 400 (The
Associated Press)
About Us
Craig Karmin is real estate news bureau chief. Reach him on X @CraigKarmin or via email at Craig.Karmin@wsj.com. The newsletter is compiled and edited by Kate King and Rebecca Picciotto (rebecca.picciotto@wsj.com), WSJ real estate reporters. Reach them via email at kate.king@wsj.com and rebecca.picciotto@wsj.com. Got a tip for us? Here's how to submit.
(END) Dow Jones Newswires
March 25, 2026 09:55 ET (13:55 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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