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Articles Archive for 23 May 2012

Brokers Weekly »

[23 May 2012 | No Comment | ]

One Museum Mile in collaboration with the DivaMoms Book Club hosted “I Never Promised You a Goodie Bag” – an event celebrating the exciting new memoir penned by socialite and event planner Jennifer Gilbert.

Deals & Dealmakers, Featured »

[23 May 2012 | One Comment | ]
Harbor Group sells 4 New York Plaza

CBRE today (Wednesday) announced that 4 New York Plaza has been sold by Harbor Group International to a joint venture between HSBC Alternative Investments Limited (HAIL) and EDGE Fund Advisors LLC for an undisclosed amount.
Harbor Group purchased the asset for a reporter $108.9 million from JPMorgan Chase Bank, N.A. in January, 2010.
Jordan Slone, chairman and chief executive officer of Harbor Group International, said “We were pleased to be able to execute our business plan in a relatively short timeframe and bring the occupancy of the building from 75%-95% in less than two years.”

Brokers Weekly »

[23 May 2012 | One Comment | ]

Douglas Elliman is expanding their network in South Florida.
Elliman is set to open a new office in Boca Raton on 444 East Palmetto Park Road in the center of the shopping district near Mizner Plaza.
The grand opening comes just after the firm acquired Palm Beach brokerage Martha A. Gottfried, a staple in that community for more than 35 years.
Vanessa Grout, who oversees Elliman’s Florida operation consisting of eight South Florida offices and approximately 180 agents, is the broker of record for the company. The office is already doing business out …

Deals & Dealmakers »

[23 May 2012 | No Comment | ]
Tory Burch takes 80,000 s/f at 350 Hudson

Tory Burch, the global fashion and lifestyle brand, has signed a 10-year, 80,000-square-foot lease at 350 Hudson Street in Hudson Square, it was announced by Trinity Real Estate President Jason D. Pizer.

“Hudson Square has become a hub for creative industries and businesses drawn by the dynamic energy and the flexibility and quality of the space,” said Pizer. “Tory Burch is a marquee retail brand and a wonderful addition to our community.”

Deals & Dealmakers »

[23 May 2012 | No Comment | ]
Woolworth condo plan back on?

By Al Barbarino

The Witkoff Group and Cammeby’s International are in contract to sell the top 25 floors of the landmarked Woolworth Building for $70 million, according to reports.

Crains New York Business reported that a group of investors will pay nearly $70 million for the empty portion of the building at 233 Broadway.

Deals & Dealmakers »

[23 May 2012 | No Comment | ]

Stellar Management and Imperium Capital have acquired two SoHo commercial buildings at 161 Avenue of the Americas and 233 Spring Street for a reported $200 million.
The partners plan to reposition the buildings, known as One Soho Square, into a Class A property.
The properties are located within the Hudson Square Business Improvement District (BID), the lower Manhattan neighborhood bounded by West Houston Street on the north, Canal Street on the south, 6th Avenue on the east and Hudson River on the west.
Home to almost 35,000 people working in advertising, design, media, …

Deals & Dealmakers »

[23 May 2012 | No Comment | ]

By Al Barbarino
A partnership comprised of Astoria Realty Partners LLC and Mornos Realty LLC has won a bidding war for a nine-story apartment building at 35 West 64th Street, paying $26 million, sources said.
The investment group, which owns several multifamily apartment buildings in Manhattan and Queen, was among upto eight parties bidding on the property over the course of the past three weeks, said Eric C. Roth, managing partner at Friedman-Roth Realty Services, the firm that represented the buyer.
The seller brought the property to market expecting $22 million, but “it just …

Brokers Weekly, Featured »

[23 May 2012 | One Comment | ]
Condo sales plummet as family-sized apartment stock runs dry

By Al Barbarino
In the same week that saw a record-breaking $90 million apartment sale, a “major inventory shift” in Manhattan sent median prices and total sales volume plummeting in new development apartments.

A report from MNS Realty noted that while price per square foot values held steady, a heap of new inventory made up of smaller units led to a 38 percent decline in year-over-year sales prices and a 33 percent decline from last quarter among new developments.

That pushed new development sales volume down 44 percent, from $670 million to $375 million.

Brokers Weekly »

[23 May 2012 | No Comment | ]

In a return to the real estate boom, developer Gary Barnett has sold $1 billion worth of luxury apartments from a floor plan, including the most expansive ever sold in New York.
The company revealed that the 10,923 s/f duplex penthouse at One57 has been bought for $90 million.
 
However, the developer has declined to name the buyer beyond saying it is a family who are not from a former Soviet state.
However, he did say the buyers who’ve snapped up half of the apartments since the building officially went on sale six …

Deals & Dealmakers »

[23 May 2012 | One Comment | ]

BGC Partners, Inc. just announced the appointment of a team of former Nomura brokers to the Newmark Grubb Knight Frank debt and equity capital markets division.
 
New York-based Mark F. Brown, Jeremy D. Stoler, N. Dante LaRocca, and John B. Tesoriero, have originated around $25 billion in commercial loans over the past 15 years and closed more than $50 billion in commercial real estate transactions.
Michael Lehrman, Global Head of Real Estate at BGC, said: “We are delighted to welcome Mark and his exceptional team, each of whom brings formidable industry connections …

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