Hong Kong Home Sales Rebound to Stretch Through Year, CBRE Says
Residential transactions jumped 16.7% in June from a month earlier to 5,955 units, according to Land Registry data released Thursday. The total exceeded 5,000 for a fourth straight month, the first such occurrence since late 2021.
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Epoch Times
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Senators Ask Commerce Secretary to Investigate DeepSeek's Ties to China
Seven Republican senators recently signed on to a letter asking the Commerce Department to examine data security risks and potential backdoors in Chinese open-source artificial intelligence (AI) models such as DeepSeek. The group, led by Sen. Ted Budd (R-N.C.), who announced the Aug. 1 letter in a press release on Aug. 4, asked Commerce Secretary Howard Lutnick to identify any threats from data collection by AI use case applications being sent back to China-based servers.
Yahoo
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Owner of landmark Manhattan skyscraper closes on $1.3 billion loan
By Matt Tracy (Reuters) -New York City property developer The Durst Organization sealed one of 2025's largest Manhattan office loans for a landmark Times Square skyscraper on Wednesday, according to Rosenberg + Estis, the law firm that represented the developer. The family-run property owner closed a $1.3 billion commercial mortgage-backed security on One Five One, a 48-story, Class A office building formerly known as 4 Times Square. The proceeds will go towards funding tenant improvements and capital expenditures, among other uses, according to Rosenberg + Estis. In the years following the COVID-19 pandemic, which wrought devastation on the U.S. office market, The Durst Organization has brought a diverse range of major new tenants to the building, including social media giant TikTok and financial services firm Nasdaq. One Five One was designed by legendary architect Frank Gehry and was previously home to publisher Conde Nast until 2014, and international law firm Skadden Arps until 2020. Wells Fargo, JPMorgan and Bank of America co-originated the $1.3 billion CMBS. The building was previously financed by a $650 million CMBS and a $900 refinancing provided in 2019 by JPMorgan and Wells Fargo. Rosenberg + Estis called the immense package a major milestone for the New York office market's recovery. "This deal sold the bonds very quickly. It pre-sold, basically," said Eric Orenstein, a member of Rosenberg + Estis's transactions team. Orenstein said the $1.3 billion ultimately funded was well above the amount originally sought by The Durst Organization. "There is tremendous demand for class A assets for well-known sponsors that are well-respected in the community," he added. "It's a good sign for the market generally." The $1.3 billion loan carries a 5.865% interest rate and matures on August 6, 2030. The financing arrangement was based on an estimated property valuation of $2.3 billion and a loan-to-value ratio of 56.5%. The Durst Organization did not immediately return a request for comment. Wells Fargo declined to comment. JPMorgan and Bank of America also did not immediately return requests for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
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- Bloomberg
How DeepSeek and Open-Source Models Are Shaking Up AI
Tech companies and academics have long wrestled with the risks and rewards of building open-source software. But the frenzy around generative artificial intelligence has lent new significance to the debate. DeepSeek and other Chinese companies have pushed out a wave of low-cost, open source models that rival software from the top American AI developers. In response, OpenAI, a leading US AI company, has released a new open model, its first in six years. The Trump administration has called for more US tech companies to do the same.
