Northeast
Cushman: NYC ‘A Hot Leasing Market’
In its third-quarter overview, Cushman & Wakefield painted a scene of a picturesque New York City leasing market.
Skanska USA Begins $70M Lab and Office Building in Boston Area
Skanska USA has announced a $70 million investment in a laboratory and office building in Cambridge, Mass., capitalizing on the hot medical-property market in the Boston area.
SL Green, Stonebridge JV for NYC Retail, Multi-Family Buy
SL Green has entered into an agreement with Stonebridge Partners to acquire eight retail and multi-family properties in New York City for $416 million.
85,000 SF Lease Takes a Chunk out of Manhattan’s 685 Third Ave.
Marks Paneth & Shron L.L.P. just found a new home, as the accounting firm signed a lease for nearly 85,500 square feet of office space at 685 Third Ave. in Midtown Manhattan from building owner TIAA-CREF.
Edge, HSBC Get 100% Ownership in Times Square’s 1540 Broadway
After acquiring a 49 percent stake in 1540 Broadway last November, Edge Fund Advisors has partnered with HSBC Alternative Investments to take the remaining 51 percent stake in the 907,000-square-foot Times Square property.
Witkoff, Morgan Stanley Buy Manhattan’s 1107 Broadway for $191M; Plan Condos
The 305,000-square-foot former office building at 1107 Broadway in Manhattan, formerly the Toy Building North, has come under the ownership of Morgan Stanley Real Estate Investing and The Witkoff Group for $191 million.
Savanna Makes $130M Building Grab in NYC’s Midtown
Savanna has just acquired 31 Penn Plaza in NYC’s Midtown area. The seller, a joint venture between C&K Properties and Zamir Equities, let the 18-story, 440,000-square-foot property go for approximately $130 million.
Philly’s 1700 Market St. Sells for $143.5M
In a $143.5 million deal, the Class A office building at Philadelphia’s 1700 Market St. was purchased by a partnership formed by David Werner, a private real estate investor.
Stan Johnson Co. Opens NYC Office
Despite the prevailing economic headwinds, the net-lease space continues to perform. As proof, look no further than the opening of Stan Johnson Co.’s New York City office, the firm’s fourth major expansion since 2009.
Savanna Begins $65M Acquisition, Re-Development of Downtown NYC’s 80 Broad St.
80 Broad St., near the southern tip of New York City, was just purchased by Savanna, which snagged a $65.3 million loan from Mesa West for the building’s acquisition and planned capital improvements.