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Articles Archive for 11 January 2013

Deals & Dealmakers, Headline »

[11 Jan 2013 | No Comment | ]
City signs 200,000 s/f lease at BankNote Building

Taconic Investment Partners announce that New York City’s Human Resources Administration (HRA) has signed a 20-year lease for approximately 200,000 square feet at The BankNote Building in the Hunts Point section of the Bronx.

In addition, Urban Health Plan, a Bronx-based, not-for-profit healthcare provider, signed a 10-year lease for 20,000 square feet for its executive offices.

The deals mark the realization of Taconic’s vision of creating a community-focused economic engine in the Bronx, bringing the class-A landmark building to just under 95 percent leased, with approximately 30,000 square feet of space remaining.

Brokers Weekly, Featured »

[11 Jan 2013 | No Comment | ]
Most year-end market reports loosely align, showing growth and contraction

As is tradition during the month of January, a slew of real estate organizations released their year-end reports and New Year forecasts. Most reported growth in 2012 of Manhattan apartment prices, with the borough experiencing the greatest appreciation gains in the country. This, as sales inventory continued to fall on the island.

Rents on average grew overall between 4 to 5 percent during 2012 in New York proper, this according to the annual market study of real estate value trends unveiled by Integra Realty Resources, Inc. Residential brokerages, which issue their own internal data reports, reported significant rental increases also despite a softening in 4th quarter prices.

Over the past year Douglass Elliman reported a 10% increase in Manhattan rent with Citi Habitats reporting a 5% rise for 2012.

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