New York
Top 5 Retail Space and Office Building Sales
PropertyShark compiled the top 5 sales in office and retail for May 2017 in New York City.
NY Investor Grabs 288 KSF NJ Office Asset
In an off-market transaction brokered by Cushman & Wakefield, Shelbourne Global Solutions acquired Perryville III in Hampton, N.J., for $19.9 million. The firm has rebranded the property as Shelbourne at Hunterdon.
Law Firm Signs 60 KSF Sublease at 425 Lexington Ave.
In a deal brokered by Savills Studley, Holwell Shuster & Goldberg LLP will occupy three floors in JP Morgan Asset Management’s Class A tower.
JV Sells Two Prime NJ Office Assets
Somerset Properties and Greenfield Partners LLC selected Colliers as the exclusive agent for the disposition of 400 and 406 Lippincott Drive in Marlton, N.J. The two Class A office buildings total more than 80,000 square feet.
Avison Young to Lease Thor Equities’ NYC Office Portfolio
A five-broker team fronted by Avison Young’s Arthur Mirante II and John Ryan III will co-handle leasing and marketing operations for the Class A and B properties.
Mizuho Consolidates NYC Offices on Avenue of the Americas
The Japanese bank will relocate its U.S. headquarters to the Rockefeller Group’s recently redeveloped 1271 Avenue of the Americas in Manhattan. The firm plans to occupy 148,000 square feet on the building’s below-grade, second and third floors.
Paramount Lands $300M Refi for Manhattan Asset
The REIT engaged Eastdil Secured to arrange the financing for 712 Fifth Ave., a 52-story, 543,000-square-foot Class A office tower in the Plaza District.
McSam’s Chelsea Hotel Breaks Ground
The 45-story building will be one of the tallest towers in Manhattan’s Chelsea neighborhood and it marks another collaboration between developer McSam Hotel Group and designer Gene Kaufman Architect.
JLL to Lease NJ Class A Office Building
The firm will handle the marketing and leasing services for Independence Place, a 120,528-square-foot prime office building located in Warren, N.J. The owner plans to renovate the property’s lobby, restrooms, common areas and elevators.
Morgans Hotel NYC Fetches $41M
The acquisition is scheduled for completion in July, when the new owners—a joint venture of The Kash Group and Shel Capital—will execute a residential conversion of the the 90-year-old Midtown Manhattan property.