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[30 Sep 2014 | No Comment | ]

The East Midtown Steering Committee, a planning group co-chaired by Manhattan Borough President Gale A. Brewer and City Councilmember Daniel R. Garodnick to set the framework for a new greater East Midtown area, has finalized the group’s membership and held its first formal session today (Tuesday).
A facilitation team will be led by John Shapiro, chair of the Graduate Center for Planning and the Environment at Pratt Institute.
The team will also include Geoffrey Wiener, formerly the assistant vice president of Facilities Planning at Columbia University; David Burney, former Commissioner of the …

Brokers Weekly, Deals & Dealmakers, Featured, Finance & Accounting »

[30 Sep 2014 | No Comment | ]
$228M construction loan for Flatotel conversion

Meridian Capital Group negotiated $228.5 million in construction financing for the condominium conversion of the former Flatotel in New York City to residential and commercial condos on behalf of a partnership between Chetrit Group and Clipper Equity.

The partner plan to convert the asset into a five-floor boutique office condominium and a 37-floor luxury residential condominium.

A 55,000 s/f office condo component will be located on floors two through seven and approximately 109 residential condominiums will span floors eight through 47.

Deals & Dealmakers, Featured »

[30 Sep 2014 | No Comment | ]
Weil, Gotshal signs 400,000 s/f  renewal at GM Building

International law Firm Weil, Gotshal & Manges LLP announced today (Tuesday) that it has signed a 15-year lease extension starting in 2019 for approximately 400,000 s/f of office space, occupying approximately 10 floors, at The General Motors Building, at 767 Fifth Avenue in New York.

“The General Motors Building has been our home since the building opened in 1968,” said Weil executive partner Barry M. Wolf.

Deals & Dealmakers, Featured, Retail »

[30 Sep 2014 | No Comment | ]
Microsoft makes its New York retail debut with 677 Fifth Avenue flagship

Software giant Microsoft announced it will open its first retail store in New York City on a tony stretch of Fifth Avenue.

The company signed a lease to open a flagship store at 677 Fifth Avenue, near 53rd Street, according to the company’s blog, where David Porter, corporate vice president of worldwide retail stores at Microsoft, announced the news in a post.

CBRE‘s Richard Hodos represented Microsoft.

Deals & Dealmakers »

[25 Sep 2014 | No Comment | ]

Schneider & Schneider, Inc. announced that Yorkshire Towers and Lexington Towers, two Upper East Side residential buildings with a combined 861 rental units, have been sold by their ownership entities to a venture controlled by The Chetrit Group and Laurence Gluck.
Daniel Geiger at Crain’s NY Business reported the sale price at nearly $500 million.
The buildings, 305-315 E. 86th Street and 160 E. 88th Street in Manhattan, were both constructed in 1964 and feature a mix of market-rate and rent-regulated units, as well as significant retail and professional space.
Lynn C. Schneider, …

Deals & Dealmakers »

[25 Sep 2014 | No Comment | ]

Massey Knakal Realty Services announced that Neil Heilberg, Gia LaMarca, and Michael Wlody have been promoted to partner at the firm.
Heilberg joined Massey Knakal in 2012 as chief operating officer. He is responsible for the day-to-day operations of the firm and has direct management responsibility for marketing, research, human resources, sales operations and training, and information technology.
He directly oversees each of the company’s service lines and plays an active role in developing and implementing the company’s strategic plan.
Gia LaMarca has been at Massey Knakal for nearly 15 years, having joined …

Deals & Dealmakers »

[25 Sep 2014 | No Comment | ]

Marcus & Millichap announced that it has named Peter Von Der Ahe a senior vice president investments in the Manhattan office. Most recently, Von Der Ahe was a first vice president investments.
Currently a member of Marcus & Millichap’s Institutional Property Advisors (IPA) division, Von Der Ahe has more than 12 years of investment real estate brokerage experience, with a focus on the New York City multifamily sector.
He has represented several major institutional investors, including Aimco, Centerline Properties, TIAA-CREF, the Praedium Group, BlackRock, JP Morgan Asset Management and many others, as …

Construction & Design, Deals & Dealmakers, Featured »

[25 Sep 2014 | No Comment | ]
C&W driving new effort to steer developer to former speedway site

Staten Island Marine Development, LLC (SIMD) has named Cushman & Wakefield exclusive marketing agent for 671 industrial-zoned acres on Staten Island’s West Shore.

This site was once earmarked for a NASCAR speedway, but new master plans being developed by Cooper Robertson and Associates paint it as a logistics and manufacturing campus.

Deals & Dealmakers »

[25 Sep 2014 | No Comment | ]

Rechler Equity Partners announced that the first lease has been signed at The Hampton Business District, a multi-use business park and hotel in Westhampton Beach, NY.
AC Lighting & Electric Supply, a full-service commercial and residential electrical and lighting supply company, is expanding its operations to a sixth Long Island location in a 9,140 s/f space at 220 Roger’s Way, a 60,000 s/f showroom and distribution building within The Hampton Business District, a planned nine-building complex totaling 440,000 square feet that broke ground earlier this year.
The lease is one of two …

Deals & Dealmakers »

[25 Sep 2014 | No Comment | ]

CBRE Group, Inc. announced that it represented BetterCloud, one of New York City’s fastest-growing technology companies, in the company’s 12,500 s/f relocation to 330 Seventh Avenue, in a long-term office lease.
CBRE’s Arkady Smolyansky and Roshan Shah represented BetterCloud in the Midtown South transaction.
BetterCloud, which provides security and management solutions for IT professionals operating on the Google Apps platform, is moving from 299 Broadway and will occupy the entire 14th floor at 330 Seventh Avenue.
Smolyansky and Shah secured the new space for BetterCloud prior to the floor ever coming on the …

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