Northeast
Dermot Co. Trades 3-Property Upper Manhattan M-F Portfolio
The Dermot Co. Inc. closed 2013 with the disposition of a group of three multi-family properties in Manhattan’s Inwood neighborhood.
After Manhattan’s Banner 2013, Experts Await an Encore
“I think we can cheer about 2013 and feel pretty good about 2014.” That was how Ron Lo Russo, president of Cushman & Wakefield Inc.’s New York Tri-state region, summed up the outlook Tuesday morning at a briefing in Midtown Manhattan.
Winthrop Realty Trust’s Times Square NY Venture Refinances Existing Debt
The development venture that bought 701 Seventh Ave. in Manhattan’s Times Square in October 2012 has completed $815 million in refinancing.
Marriott Opens Tallest Hotel in NYC
Double good news for Marriott International: Not only did it officially open its doors yesterday to the tallest hotel in New York – a 68-story property that climbs nearly 753 feet into the skyline at Broadway and 54th Street – but also the combination Courtyard by Marriott/Residence Inn joined a growing trend of dual-branded hotels nationwide.
Rockpoint, Fisher Bros. Buy 50% Stake in 2 NYC Office Towers Totaling 3 MSF
Fisher Brothers now has a new partner in the ownership of 1345 Avenue of the Americas and 605 Third Ave., two Class A office high-rises totaling 2 million square feet in Midtown Manhattan.
Spitzer’s RE Company Spends $88M for Manhattan Property
Former New York Governor Eliot Spitzer has wrapped up a notable Manhattan purchase for the family real estate firm, Spitzer Enterprise — 511 W. 35th St., a 17,281-square-foot development site at the burgeoning Hudson Yards, from Alloy Development in a speedy $88 million transaction.
Lowe JV Buys 2 Class A Office Buildings in Phoenix for $51M
Frequent partners Lowe Enterprises and J.P. Morgan Asset Management have joined forces on the acquisition of a two-building, 327,300-square-foot office portfolio in metropolitan Phoenix. The partnership acquired the Class A office properties from CJK Investments for an aggregate $51 million.
Blackstone Closes on East Coast Hotel Portfolio for $186M
Blackstone Real Estate Advisors has closed on a 15-property select-service hotel portfolio in seven East Coast and Mid-Atlantic states after securing $186 million in acquisition financing.
Citi Extends 2.6 MSF Lease Agreement at TriBeca Towers in NYC
An affiliate of Citigroup has signed an extension for its triple-net leases at 388 and 390 Greenwich St. in Manhattan’s TriBeCa neighborhood.
Rockrose Buys 150 KSF NYC Commercial Office Building for $105M
Rockrose Development Corp. has acquired 15 E. 26th St., a 150,000-square-foot boutique commercial office building located on Madison Square Park between Madison and Fifth avenues, from Savanna for $105 million.