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[23 Oct 2014 | No Comment | ]
Thor buys 530 Fifth Ave for $595M

A partnership among Rockwood Capital, Jamestown, Crown Acquisitions and Murray Hill Properties announced the closing of the sale of 530 Fifth Avenue in New York to a partnership led by Thor Equities. The sale price was $595 million. The 26-story office and retail building occupies the entire western block of Fifth Avenue between 44th and 45th Streets.
Rockwood, Jamestown, Murray Hill, and Crown originally purchased the property in early 2012 for $390 million. Since acquisition, the ownership team has invested more than $10 million to modernize the building’s infrastructure, including renovations …

Deals & Dealmakers, Photo Gallery »

[23 Oct 2014 | No Comment | ]
PHOTO GALLERY: Cole Schotz cocktail reception

Cole Schotz’s Construction Services Group hosted a cocktail reception bringing together industry players involved in many of the largest construction projects in the area at the Press Lounge at Ink48 Hotel (653 11th Ave. in New York) on October 15.

Deals & Dealmakers »

[23 Oct 2014 | No Comment | ]

Colliers International has arranged a long-term lease for hybrid supermarket chain and delivery service provider MaxDelivery, which will occupy 9,800 s/f at 318 West 39th Street in the Garment District.
This will be the Manhattan retailer’s second location, complementing its first at 51 White Street in TriBeCa.
MaxDelivery provides one-hour delivery service for its wide range of more than 6,000 grocery, drugstore, and office items through an online ordering system on its website, and downloadable application.
The new MaxDelivery supermarket, featuring a food and beverage café, will be located on the ground floor …

Deals & Dealmakers, Featured »

[23 Oct 2014 | No Comment | ]
Wall Street renegades pound streets in search of rough diamonds

Investors tend to complain that it is getting harder and harder to find undervalued buildings in New York City. But David Manheimer and Benji Kohn believe Brooklyn still has a few rough diamonds to offer.

With their recently founded company, Brooklyn Standard Properties, the two childhood friends are buying walk-up residential buildings in the city’s hippest borough, with an eye to renovating them for young tenants and small families.

The partners also have an unconventional approach to fundraising – raising hundreds of thousands of dollars in mezzanine debt through the crowdfunding platform, Fundrise.

Deals & Dealmakers »

[23 Oct 2014 | No Comment | ]

In an expansion move, global project manager and construction services giant, Lend Lease US Construction, has leased most of the third floor comprising 12,000 s/f at Charles S. Cohen’s 3 East 54th Street.
The firm, which is retaining its offices at 200 Park Avenue, expects to move into its new facilities at 3 East 54th Street, a 20-story, 200,000s/f building located at the southeast corner between Fifth and Madison Avenues, in December.
Brent Ozarowski and Staci Goodman of Newmark Grubb Knight Frank represented the tenant in the five-year leasing transaction, while Marc …

Deals & Dealmakers »

[23 Oct 2014 | No Comment | ]

Eastern Consolidated has been retained as the exclusive agent to market for sale Bulova’s New York headquarters at One Bulova Avenue, also known as 26-15 Brooklyn-Queens Expressway, in Woodside, Queens for $30 million.
The famous watch and clock maker is moving its operation out of the building and has leased the 33,000 s/f 29th floor of the Empire State Building.
The existing 93,000-square-foot corporate headquarters in Queens is comprised of a 55,000-square-foot warehouse and a 38,000-square-foot, two-story office building with a retail component. The campus also includes two surface parking lots, which …

Deals & Dealmakers »

[22 Oct 2014 | No Comment | ]

Check out the photos from the ULI Networking Reception at Gotham West Market.
 
 

Deals & Dealmakers »

[22 Oct 2014 | No Comment | ]

The Avenue of the Americas Association will host its 88th Anniversary Gala honoring Silverstein Properties, owners of 1177 Avenue of the Americas, on Thursday, October 30, 2014 at the Trianon Ballroom.
Businesses, real estate owners and neighbors of the Avenue of the Americas will gather at the Associations’ 88th Anniversary Gala for a specially curated Avenue experience in celebration of Silverstein Properties’ commitment to the Avenue.
The 2014 Green Street Awards will also be handed out during the event as part of the Association’s fifth annual Environmental Recognition Program.
Guests will enjoy a …

Deals & Dealmakers »

[22 Oct 2014 | No Comment | ]

● eastern consolidated / cresa
Greenwich Street building trades for $53M
Eastern Consolidated and Cresa New York have arranged the $52.9 million sale of a 66,530 s/f residential and retail property at 110-112 Greenwich Street in Lower Manhattan.
Located on the corner of Carlisle Street, one block south of the World Trade Center Memorial and One World Trade Center, the property features 60 free market apartments, corner retail space, and 30,000 s/f of additional development rights.
Eastern Consolidated chairman and CEO Peter Hauspurg, along with David Schechtman, Lipa Lieberman and Director Abie Kassin; along …

Deals & Dealmakers »

[22 Oct 2014 | No Comment | ]

NGKF Capital Markets is marketing a national portfolio of properties leased to the U.S. General Services Administration (GSA).
The portfolio is made up of nearly one million square feet of properties that vary from immigration processing centers to federal courthouses located across eight states.
The NGKF Capital Markets team is led by Kenneth Zakin in New York, Tim Strange in Oklahoma City and Mark Phillips in Phoenix, and is supported by additional Newmark Grubb Knight Frank brokers in their respective local markets.
“This is an exceptional opportunity for an investor focused on acquiring …

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