New York
Peebles, Elad Buy NYC Landmark Building for $160M
The Peebles Corp. and Elad Group have bought the historic 346 Broadway office building from New York City for $160 million and plan to transform the 115-year-old property into a five-star hotel and upscale condominiums in a $400 million restoration.
25 K Sq. Ft. Retail Condominium in Manhattan Sold for $50 M
As the Manhattan commercial real estate market is blooming, a retail condominium on Upper West Side changed hands last week in a $50 million transaction.
CBRE Trades 377 KSF Class A Office Building in NJ Suburb
GAF, North America’s largest producer of roofing materials, is moving from its longtime Wayne, N.J., corporate headquarters to a 377,000-square-foot, Class A office building in Parsippany, N.J., in a deal described by CBRE Group Inc. brokers as “one of the largest in the state this year.”
SL Green Signs 266 KSF Lease with MTA in Manhattan
With a new lease in place at Midtown Manhattan’s Graybar Building at 420 Lexington Ave., Metro-North Commuter Railroad Co. will continue to call the 1.2 million-square-foot skyscraper home, but it will be a much bigger home.
Seventh Hyatt-Branded Hotel in Manhattan to Open on New Year’s Eve
With the holiday season right around the corner, the Big Apple is as ready as ever for the winter wave of tourists, seasonal shoppers and business travelers alike. Hyatt Hotels Corporation announced the grand opening on New Year’s Eve 2013 of its seventh flagship hotel in the heart of New York City, just steps away from Times Square, Broadway theaters, Fifth Avenue shops, the Rockefeller Center, the Museum of Modern Art and all that buzz that Manhattan has to offer.
Vornado Refinances NYC’s 11 Penn Plaza for $450M
Vornado Realty Trust has completed a $450 million refinancing of Eleven Penn Plaza, a 23-story, 1.1 million-square-foot Manhattan office building.
709-Unit Luxury High-Rise Opens in Long Island City
Manhattan-based Rockrose Development Corporation officially opened its newest signature residential high-rise in the Long Island City neighborhood of Queens, where real estate experts predict a veritable housing boom in the next few years.
Ashkenazy Buys Manhattan’s 625 Madison Ave. for $400M
The ground lessor’s position at 625 Madison Ave., in Manhattan’s Plaza District, has been purchased by Ashkenazy Acquisition Corp. for $400 million from 625 Ground Lessor.
AEW Buys 375-Unit Apartment Building in NYC from Gotham Organization
AEW Capital Management has acquired New Gotham, a 375-unit rental building at 520 W. 43rd St. on Manhattan’s West Side, from the Gotham Organization and its investor member AIG Affordable Housing for a reported $170 million.
Witkoff, Jynwell Close on NYC’s Park Lane Hotel for $660M
An investment consortium led by The Witkoff Group and majority backer Jynwel Capital has acquired the Helmsley Park Lane Hotel in New York City for $660 million from the Leona and Harry Helmsley Charitable Trust.