By Roland Li

A 4,500 s/f building at 250 Canal Street, on the southeast corner of Lafayette Street, is on the market for $30 million. It is also being marketed for a long term net lease of 49 years, with an annual rent starting at $1.8 million. The square structure has 72 feet of frontage along both Canal and Lafayette and is adjacent to a subway station, seeing heavy foot traffic. The one-story property is currently subleased to an individual, who has subleased it to various souvenir and handbag retailers. Read more...

By Daniel Geiger

Cushman & Wakefield is partnering with the British real estate company Legacy Portfolio to bring a $1 billion fund to the U.S. aimed at buying real estate obligations off the balance sheets of corporations seeking to downsize and limit the liability of upcoming accounting rule changes. “We’re raising enough capital to help companies remove about a billion dollars of lease liabilities from their balance sheet,” said Michael Rotchford, an executive vice president at Cushman. Read more...

By Liana Grey

Not long after Amy Williamson began marketing the Centurion, a condo tower on West 56th Street designed by starchitect I.M. Pei, she found herself on a plane to Hong Kong and Shanghai. With the help of local brokers, Williamson, a vice president of sales at Prodigy Network, held information sessions about the limestone-clad tower in hotel conference rooms, and met privately with prospective buyers to discuss finances. Read more...

By Roland Li

A mixed-used building at 101 Seventh Avenue has been sold for $56.66 million, according to city records. The sellers were Treger Realty LLC and Tandem NY Properties LLC, entities controlled by Brooklyn-based United Management Co., along with 75 West 190 LLC. The buyer was Equity One, Inc., a real estate investment trust with headquarters in Florida. Read more...