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Articles Archive for 9 May 2011

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[9 May 2011 | One Comment | ]
Cushman & Wakefield team predicts big rents for 623 Fifth Avenue

By Daniel Geiger

A team from the real estate services firm Cushman & Wakefield that is handling leasing for the midtown office building 623 Fifth Avenue has big expectations for the property, including rents in the triple figures. The roughly 350,000 s/f tower is owned by the landlord Charles Cohen and was handed to a leasing team led by Bruce Mosler and Arthur Mirante earlier this year after the pair, who are both former chief executives at C&W, were named leasing agents for Cohen’s entire Manhattan portfolio.

Deals & Dealmakers, Featured »

[9 May 2011 | 4 Comments | ]
CWCapital acquires Upper Manhattan building for $8.21 million in foreclosure auction

By Roland Li

CWCapital has acquired a residential building at 615 West 186th Street for $8.21 million in a foreclosure auction, according to city records. Attorney Dayton Haigney was appointed as a referee of the building by Bank of America, which filed to foreclosure on a $13.89 million lien, according to PropertyShark. Haigney didn’t immediately return a request for comment.

Deals & Dealmakers, Featured »

[9 May 2011 | 4 Comments | ]
Grubb & Ellis team hired to sell Stamford buildings

By Daniel Geiger

A brokerage team from the real estate services firm Grubb & Ellis will be handling the sale of two office buildings in Stamford Connecticut. The team, led by Jason Meister, one of Grubb’s rising investment sales brokers in the city, will be selling 30 Oak Street and 1200 Bedford Street on behalf of a bank. The properties are part of the same office complex and together total roughly 72,000 s/f. Meister said that they cater to tenants seeking Class B space in Stamford, a banking hub north of Manhattan where a number of major financial institutions such as UBS have significant facilities.

Deals & Dealmakers, Featured »

[9 May 2011 | No Comment | ]
Sony sells office condo at 137-139 West 25th Street for $10 million

By Roland Li

A 29,700 s/f office condo at 137-139 West 25th Street has been sold for $10 million, or roughly $337 per s/f. Frank Crimmins, senior vice president and controller of Sony Music Entertainment, is listed in recent building permits as the owner of 137-139 West 25th Street. A call to Sony’s headquarters at 550 Madison Avenue wasn’t immediately returned. The 12-story building totals 80,803 s/f, according to PropertyShark, including 72,550 s/f of office space and 8,250 s/f of retail. Jonata Dayan, Adam Ben-Dayan and Jonathan Ben-Dayan of Winoker Realty Company, represented the buyer, 127 West 25th Street LLC.

Deals & Dealmakers, Featured »

[9 May 2011 | No Comment | ]
Extell sells midtown building for $4.2 million, relisted by buyer at $6 million

By Roland Li

Extell Development Co. has sold a mixed-use building at 41 West 46th Street for $4.2 million, according to city records. The buyer was Manhattan-based TPEC Management, which owns 14 other residential buildings, according to Urban Sherpa. After trading in April, the building has been relisted for $6 million.

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