Home » Archive

Articles in the Headline Category

Deals & Dealmakers, Headline »

[23 Apr 2014 | No Comment | ]
Moinian in talks on Hudson deal

The Moinian Group is in advanced talks with an unnamed company to lease 600,000 s/f at its planned office tower 3 Hudson Boulevard.
Avison Young’s tri-state president Arthur Mirante, who oversees the building’s leasing, told Real Estate Weekly that he has exchanged proposals and counter-proposals with a prospective tenant and hopes to have the lease signed by June.
Mirante declined to name the tenant, but there are currently only a handful of companies in the market for office space of that size.

Deals & Dealmakers, Headline »

[22 Apr 2014 | No Comment | ]
Greenwich Village building sells for $75 million

The 124,000-s/f building 627 Greenwich Street was sold for $75 million, public property records show. It wasn’t immediately clear who bought the Greenwich Village property, but it appears investment firm Criterion Real Estate Capital was involved in the purchase.

Criterion’s CEO Chuck Rosenzweig signed the deed as an “authorized representative”, and the official buyer LC Acquisitions I, LLC is listed under the same address as Criterion. Rosenzweig couldn’t immediately be reached for comment.

The building was sold by the Royal Bank of Scotland (RBS).

Deals & Dealmakers, Headline »

[18 Apr 2014 | No Comment | ]
Law firm leases 440,000 s/f at Rockefeller Group’s McGraw-Hill Building

The Rockefeller Group today announced that White & Case LLP, a law firm with operations in 26 countries, has signed a 440,000 square foot long-term lease for its New York office at 1221 Avenue of the Americas. The leased space includes the top floors in the building, as well as below grade space. The firm will relocate to 1221 in 2017.
The firm plans to remain on Sixth Avenue in a move north to one of Rockefeller Center’s premier office towers. Located between West 48th and West 49th Streets, 1221 Avenue of the Americas was developed by The Rockefeller Group in the modern expansion of Rockefeller Center to the west side of Sixth Avenue.

The tenant was represented by Ken Siegel, Tom Doughty and Lisa Kiell of Jones Lang LaSalle. The Rockefeller Group was represented by an in-house team led by Ed Guiltinan, along with a Cushman & Wakefield brokerage team led by Executive Vice Chairman John Cefaly.

Headline »

[15 Apr 2014 | No Comment | ]
Related to switch on first digital district

Brains aren’t just for people anymore. We have smart phones, smart cars – and increasingly smart buildings.
While computerized security and HVAC systems have become commonplace in new buildings, Related Companies and Oxford Properties have more ambitious goals for the new development at Hudson Yards.
“Hudson Yards will be the most connected, measured and technologically advanced digital district in the nation,” Jay Cross, president of Related Hudson Yards, said in a press release.

Deals & Dealmakers, Headline »

[7 Apr 2014 | No Comment | ]
MHP and Soho Properties to turn Parsons building into $300M Dream Hotel

Soho Properties and MHP Real Estate Services will turn the former Parsons building at 560 Seventh Avenue into into the city’s latest Dream Hotel – a brand run by Hampshire Hotels Management.
The Times Square development will field an additional 20,000 s/f of retail space, with a total project value of around $300 million. The buyers have now closed on the purchase of the building, completing a deal first publicized in October. A spokesperson told Real Estate Weekly that the property traded for $63 million.

It wasn’t immediately clear whether the developers plan to tear down the old building completely, or how many square feet the new development will have. MHP and Soho Properties couldn’t immediately be reached for comment.

Construction & Design, Deals & Dealmakers, Finance & Accounting, Headline »

[4 Apr 2014 | No Comment | ]
Builders crunching numbers to land best deals

James Nelson of Massey Knakal sat down with David Von Spreckelsen of Toll Brothers, Ken Horn of Alchemy Properties and Michael Stern of JDS Development to discuss their current projects and the real estate landscape in New York City.

All three said today’s skyrocketing land prices have given them pause – but agree apartment prices are blowing their minds!

Deals & Dealmakers, Headline »

[2 Apr 2014 | No Comment | ]
Silverstein: Build it and they will come

Amid controversy over a planned public loan guarantee, developer Larry Silverstein gave an impassioned speech in support of his planned tower 3 World Trade Center.

“With 55 years in the business, I have been through a few up-and-down cycles… and I have learned that when you build, tenants will come,” Silverstein told the audience at Massey Knakal’s investment summit yesterday (Tuesday).

“In New York City, first-class office buildings will always fill up.”

Deals & Dealmakers, Finance & Accounting, Headline »

[26 Mar 2014 | No Comment | ]
Tough love as crowdfunding grows up

On a recent Thursday night, the crowdfunding startup iFunding hosted a party in a Fidi basement apartment that offered a glimpse of what the future of New York real estate could look like.

Stepping through the door felt like entering some parallel universe in which the industry is young, multi-ethnic, laid back and virtually jacket- and tie-less.
“It’s going to be absolutely huge,” said one guest. “In a few years, everyone will be doing it,” added another.

But go to any more traditional real estate event and you will find little enthusiasm for crowdfunding. Its numerous critics see it as a passing trend, a dangerous method that will defraud clueless investors, or both

Deals & Dealmakers, Headline »

[19 Mar 2014 | One Comment | ]
The art of spotting a fake billionaire

When Adelaide Polsinelli recently got a call from a banker representing a wealthy foreigner, she was skeptical.

The caller told her his client was moving to New York and wanted to invest in commercial real estate, but Polsinelli, a top broker at Eastern Consolidated, has been in the business long enough to not immediately trust such claims.

Polsinelli’s dilemma is typical for commercial brokers in a globalizing real estate market. The recent influx of foreign capital has brought in lucrative commissions, but language barriers and physical distance have also made it harder to assess which clients are legitimate and which aren’t.

Construction & Design, Headline, Uncategorized »

[17 Mar 2014 | No Comment | ]
Cheers! Irish get a new-look arts center

As New York City rolled out the green carpet for the 253rd annual St Patrick’s Day parade, the historic Irish Arts Center in Hell’s Kitchen unveiled plans for a new-look building.

A partnership between New York City and the Irish Government will hep finance the project, which the group said has “important thematic value as Ireland recovers from the global financial crisis and restores its economic sovereignty. ”

Public review of the project at 533 West 51st Street is expected to begin this spring with construction starting early next year.

Related Posts Plugin for WordPress, Blogger...