Home » Archive

Articles in the Featured Category

Brokers Weekly, Construction & Design, Featured »

[1 Oct 2014 | No Comment | ]
Silverstein’s 30 Park Place tower 50 percent sold

Developer Larry Silverstein, Founder of Silverstein Properties, Inc., announced today that 30 Park Place, Four Seasons Private Residences New York Downtown has achieved 50 percent sold in just four months.
The sales gallery and model residence, one of the largest and most sophisticated of its kind in the city, which offers dramatic views from its perch on the 33rd floor of 7 World Trade Center, is also now officially open.
Poised to be one of Manhattan’s most prestigious addresses as well as the tallest residential building downtown, 30 Park Place …

Featured, Finance & Accounting »

[1 Oct 2014 | No Comment | ]
RCS Cap’s $700M move to buy ARC biz will create net lease powerhouse

Retail investment services firm RCS Capital Corporation has agreed to buy Cole Capital Partners, the private capital management business owned by American Realty Capital Properties (ARCP) for $700 million.

Under the deal, ARCP will act as “sub-advisor” to certain non-traded real estate investment trusts currently advised by Cole Capital. ARCP will be responsible for acquiring net lease real estate for Cole Capital’s managed real estate investment trusts and overseeing property management activities.

The sub-advisor arrangement brings together two of the most successful net lease investment machines in the country and creates what RCAP chief executive Michael Weil hailed as one of his most “strategically and financially important” moves.

Featured, Finance & Accounting »

[1 Oct 2014 | No Comment | ]
NGKF out to cash in on borrowing boom

NGKF Capital Markets has welcomed structured finance dealmakers Jordan Roeschlaub, as senior managing director, and Daniel Fromm, as managing director, to its New York office.

The additions come as commercial borrowing exceeds last year’s healthy volume and as Newmark Grubb Knight Frank (NGKF) continues to recruit finance experts nationwide.

“With property fundamentals improving in the midst of an ultra-low interest-rate environment, the appetite for borrowing will remain robust for the balance of 2014 and into 2015,” said Jimmy Kuhn, president of Newmark Grubb Knight Frank and head of NGKF Capital Markets.

Featured, Finance & Accounting »

[1 Oct 2014 | No Comment | ]
P2P lending piquing interest of institutions

Peer-to-peer lending — once synonymous with small consumer loans — is making forays into the real estate industry.

Virtually unregulated, the practice is a boon for cash-strapped developers and is starting to draw the attention of institutional investors. As the first loans get securitized, peer-to-peer lending may be poised for the big stage.

“Banks are kind of in the stone ages compared to these platforms,” said Jahangier Sharifi, an attorney at Richards Kibbe & Orbe who helps funds invest in peer-to-peer loans.

Construction & Design, Featured »

[1 Oct 2014 | No Comment | ]
Builder row not necessarily the final nail in coffin

In real estate as in personal relationships, a divorce can be the best solution for all involved.
A week after Skanska canceled its contract to build Forest City Ratner’s Pacific Park modular tower in Brooklyn, it seems less and less likely that the sides will come back together.

This means Forest City Ratner may be forced to find a new contractor for the half-finished residential project — once hailed the future of construction but now mired in delays and cost overruns.

While switching contractors halfway through a project is unusual, it can end up being the lesser evil.

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.

Brokers Weekly, Construction & Design, Featured »

[30 Sep 2014 | No Comment | ]
$1.5B Queens development tempts Durst out of Manhattan

The Durst Organization announced today (Tuesday) that it is investing $1.5 billion in a massive housing development in Queens called Hallett’s Peninsula.

In a joint venture with Lincoln Equities Group, the firm plans to build 2,404 units, including 483 affordable units along an undeveloped waterfront area of Astoria.

In Durst’s first major project outside Manhattan, the project will also include a supermarket, retail, an extended and rebuilt waterfront esplanade, and renovated playgrounds and parkland.

Brokers Weekly, Featured »

[26 Sep 2014 | No Comment | ]
You are what you wear in New York City real estate

In a city where the biggest the best fashion labels in the world are headquartered, it’s no surprise that residential real estate agents look to be at the top of their game when it comes to dressing the part.

With New York City just having experienced its annual September fashion week, and with many more cities across the globe hosting their own, Big Apple brokers from top firms tell Brokers Weekly about the importance of dressing the part.

Related Posts Plugin for WordPress, Blogger...