New York
Thor, ASB Close on Manhattan Retail/Office Building for $97M
In the latest of several Manhattan acquisitions for both companies, though their first together, a joint venture of Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund has purchased a five-story, 60,000-square-foot property at 875 Washington St. in Manhattan’s Meatpacking District for $97 million.
Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC
By Veronica Grecu, Associate Editor One of the leading commercial real estate finance companies in the U.S., Walker & Dunlop LLC of Bethesda, Md., recently announced that it provided $120 million financing for a high-rise apartment building in Long Island City, N.Y. The financing team lead by Walker & Dunlop’s Steven Heller arranged a 10-year […]
RXR Signs NNN Lease for Manhattan’s 75 Rockefeller Plaza
Big plans are in the works for 75 Rockefeller Plaza in Midtown Manhattan, now that owner 75 Plaza has turned over a leasehold interest to RXR Realty under a 99-year, triple-net-lease agreement, the financial terms of which have not been disclosed.
Micro-Housing to Solve Apartment Crisis in NYC?
The lack of inventory and skyrocketing rent prices have forced New Yorkers to reconsider their housing options or look for new solutions to transform their notoriously tiny apartments into multifunctional homes.
Sony to Sell Manhattan HQ to Chetrit, Partners in $1B Sale-Leaseback
With commercial real estate investment brokerage and banking firm Eastdil Secured leading the marketing effort, Sony has settled on a buyer for its Manhattan headquarters building at 550 Madison Ave.
Brookfield Breaks Ground on $4.5 Billion Manhattan West Development
The first phase of Brookfield Office Properties’ newest and largest development project in New York City kicked off on January 15 with a groundbreaking event in the presence of Mayor Michael Bloomberg and other city and real estate officials.
Hampshire Properties Sells 450 KSF LIC Office Building for $85M
A venture composed of affiliates of Madison Marquette and certain funds within the Perella Weinberg Partners’ Asset-Based Value strategy has purchased the Center Building, an eight-story, 450,000-square-foot office building in the Long Island City neighborhood of Queens, New York, for $85 million.
Madison Capital JV Acquires NY Citibank Portfolio for $81M
Madison Capital, in a JV with an institutional owner, acquired a premier portfolio of five Citibank retail bank branches in the New York metropolitan area from FGP West Street for $81 million.
Work Imminent on Mixed-Use Tower in Meatpacking District
Property Group Partners and landlord Romanoff Equities have joined forces to replace a former meat processing facility in New York’s Meatpacking District with a mixed-use complex that would stand as a prominent structure in the neighborhood. Designed by James Carpenter Design Associates architectural firm in cooperation with Gerner Kronick & Valcarcel Architects, the project is set to begin development immediately, with a delivery date tentatively set for 2015.
Microsoft Takes 200 KSF at 11 Times Square
Microsoft has committed to a big chunk of space at 11 Times Square with the signing of a new lease for 200,000 square feet at the state-of-the-art, 1.1 million-square-foot office and retail skyscraper.