New York
Top 10 NYC Commercial Property Sales Recorded in April 2016
While no multi-billion dollar commercial property deals were recorded in April 2016, the data shows NYC real estate going strong. Savvy investors and developers are continuing to buy, and find substantial financing. Most notable this month was the almost exclusive domination by office properties, with lots of action in FiDi and Midtown. 1. 850 3rd Avenue, Manhattan Sale Price: $463,000,000 Buyer: 850 Third Avenue Holding LLC Seller: Sri Nine 850 LLC A collaboration between MHP Real Estate Services and HNA acquired this notable 21-story, wedding cake shaped office building. Tenants reportedly include Chase Bank, NYPD, and FDNY. 2….
575 Fifth Avenue to Open for Leasing in the Fall
L’Oreal will vacate its headquarters in Midtown Manhattan after three decades.
JLL Teams Up with Related, LargaVista to Lease New SoHo Mixed-Use Project
300 Lafayette will be the neighborhood’s first new Class A office building in more than a century.
Interstate Hotels & Resorts Taps New SVP of Operations
Veteran Michael Miner will work directly with Interstate COO Ted Knighton and will focus his efforts on the New York region and other select markets.
Brixmor Property Group Names Mark Horgan Executive VP, Chief Investment Officer
The new executive will oversee the company’s acquisition and disposition activity and help drive its capital allocation and portfolio strategy.
Newmark Holdings Grabs Long Island City Office Asset
A joint venture between Newmark Holdings and Olmstead Properties paid $60 million for an office tower in Queens.
Construction Begins on Hudson Yards’ 3 Hudson Boulevard
According to developer Moinian Group, the price of the 1,050-foot-tall skyscraper is currently estimated at $2 billion.
CIT Survey: CRE Execs Divided About Outlook for 2016
The recently released 2016 Commercial Real Estate Outlook was conducted online by Forbes Insights among 201 senior commercial real estate executives.
Manhattan Book Warehouse Sees New Life as Cutting-Edge Home of Beacon High School
Beacon High School moved into its new 235,000-square-foot home, which includes a 432-seat black box theater, a gymnasium, art and music rooms, and even a dance studio.
Architectural Firm Shares New Vision for Brooklyn Strand
WXY Architecture + Urban Design, the main player behind the recent Brooklyn Strand Urban Design Action Plan, shares details regarding the game-changing project.
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