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Articles Archive for 28 November 2012

Deals & Dealmakers, Featured »

[28 Nov 2012 | No Comment | ]
$621M mortgage will keep Co-op City affordable

Co-op City, the sprawling affordable housing development in The Bronx that 57,000 people call home, has landed a $621 million mortgage that will keep it out of private hands for years.
The U.S. Housing and Urban Development (HUD) arranged the deal to refinance a previous mortgage and lower interest payments for the building’s owner .
“This is about preserving affordable housing for the next generation of families living and working in one of the nation’s highest cost rental markets,” said HUD secretary Shaun Donovan

Construction & Design, Deals & Dealmakers »

[28 Nov 2012 | No Comment | ]

ClearRock Properties, an owner and operator of office properties across the Northeast, has taken title to a 270,000-square-foot, four-building commercial portfolio in Stamford, CT. ClearRock and joint venture partner Contrarian Capital Management purchased the underlying non-performing mortgage in May, and recently completed a friendly foreclosure.
The eight-acre site, comprising 700, 850, 860 and 880 Canal Street, is situated along the waterfront amid one of the nation’s largest redevelopment projects, Harbor Point, in the redeveloped South End. The properties are convenient to I-95 and the Stamford Transportation Center, which provides Metro North …

Brokers Weekly »

[28 Nov 2012 | No Comment | ]

The Corcoran Group, New York’s premier real estate firm, announced today the airing of the company’s firstlive-action television commercial.  The commercial is part of a new multi-channel advertising campaign created to support and promote the launch of the company’s newly recreated website, corcoran.com.
With this new advertising campaign Corcoran expands the range of creative executions to include mobile and television commercials in addition to print and online media.
The television commercial – in :30 second and :60-second versions – will air in the New York City, Long Island and Palm Beach markets as well as in select, East …

Deals & Dealmakers »

[28 Nov 2012 | No Comment | ]
Tiffany expands to 405,000 s/f and fills 200 Fifth

For the second time in a year, Tiffany and Company is growing its corporate headquarters.

This time, the famed jeweler has leased the entire 57,691 s/f 8th floor at L&L Holding Company’s 200 Fifth Avenue. Last November, it added the same-sized 9th floor.

The company’s latest expansion signals two milestones; The 800,000 square foot office portion of the renovated property, among the most successful historic redevelopment projects in the city, is now 100% leased, and Tiffany and Company has earned the distinction of being the building’s largest tenant with a total of 405,489 s/f.

Deals & Dealmakers »

[28 Nov 2012 | No Comment | ]
Jazzed up Ambrosini manages to tune into the needs of city’s property owners

John Ambrosini learned to juggle multiple tasks from a young age.

From growing up on Long Island as one of 11 children, to studying music composition and steering a ship with the Coast Guard, Ambrosini seemed destined to be a manager.

Now the senior managing director of property management at ABS Partners Real Estate, he leads a team that currently manages a six million square feet commercial portfolio that continues to grow.

“It’s growing all the time,” he said. “It’s growing because people see that we are very professional and we do what we say we’re going to do.”

Brokers Weekly »

[28 Nov 2012 | No Comment | ]
DJ finding his groove as Greenpoint rental agent

A Virginia transplant is shaking things up in Greenpoint after ditching his DJ headphones (during the daytime at least) and donning a suit as one of Miron Properties’ newest agents.

Dave Gaidowski, originally from Virginia Beach, VA, subleased his former DJ accessories and music store to Miron Properties — and then joined the team.

Several months ago, Gaidowski made the unlikely transition after learning Miron Properties was looking for office space in Greenpoint. Almost overnight, his store turned into a real estate office.

Deals & Dealmakers »

[28 Nov 2012 | No Comment | ]

RKF has arranged an 8,805 s/f lease for apparel retailer The Men’s Wearhouse at 1219 Third Ave.
Scheduled to open in January of 2013, Men’s Wearhouse will join neighboring tenants which include Grace’s Market, Gracious Home, Anthropologie and Super Runners Shop.
This will become the sixth Men’s Wearhouse location in Manhattan and its first storefront on the Upper East Side.
The retail space at 1219 Third Avenue is located on the ground floor of 200 East 71st street, which is a 266,000 s/f luxury residential building that rises above Third Avenue’s …

Deals & Dealmakers »

[28 Nov 2012 | No Comment | ]

ABS Partners Real Estat announced that ROYCE’ Chocolate, the Japanese confectioner, will open its first United States location at 509 Madison Avenue in midtown Manhattan.
ABS Partners Retail Leasing team members Dean Valentino and Jay Einbender represented Royce’. The chocolatier will occupy 375 s/f of retail space in the 21-floor, high-rise office that was constructed in 1929.
“With the success of its business overseas, it was important to Royce’ that it open a U.S. location to continue expanding its business,” said Valentino. “The company now has a great New York City location, …

Deals & Dealmakers, Editorial Supplements »

[28 Nov 2012 | No Comment | ]

Apple-Metro, Inc., the New York area Applebee’s franchisee, will open New York City’s first USGBC LEED Gold Certified Restaurant on December 10.
The eco-friendly restaurant, located in the East River Plaza at 117th Street, will mark the chain’s 35th Applebee’s location.
“We are focusing on green practices and are on a regular schedule of renovating and remodeling our existing restaurants to ensure that Applebee’s in New York City is becoming more environmentally-friendly,” said Zane Tankel, founder and CEO of Apple-Metro, Inc.
“As we began construction on the 117th Street location, …

Deals & Dealmakers »

[28 Nov 2012 | No Comment | ]

American Realty Capital New York Recovery REIT, Inc. has entered into a purchase and sale agreement to acquire the fee simple interest in an institutional-quality office building located at 229 West 36th Street in Midtown Manhattan at a purchase price of $65 million.
The property contains approximately 149,000 s/f and is 100% leased to seven tenants.
Approximately 70 percent of the property is occupied by three tenants: American Language Communication Center, Inc.; Early Bird Delivery Systems, LLC; and Spectaguard Acquisition, LLC.
“This is the second office building in the Garment District that we …

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