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Articles Archive for 12 December 2012

Editorial Supplements »

[12 Dec 2012 | No Comment | ]

Brookfield Office Properties Inc.  announced today that employees from 19 nonprofit organizations and small business displaced by Hurricane Sandy are utilizing hundreds of furnished, WiFi-enabled workstations that Brookfield is offering free-of-charge at 250 Vesey St. at the World Financial Center/Brookfield Place New York. The space was offered for use in early November and is now completely filled.
 “Lower Manhattan is our home and we were fortunate to be minimally impacted by Hurricane Sandy. As the area’s largest office landlord, we are utilizing our unique resources to help those affected by the storm …

Deals & Dealmakers »

[12 Dec 2012 | No Comment | ]

The Manhattes Group has been retained on an exclusive basis to sell 220,000 square feet of industrial space at 29 Ryerson Street.
The property is located on the corner of Ryerson Street and Flushing Avenue in Brooklyn’s Navy Yard neighborhood. The asking price is $26,000,000.
The site consists of an 8 story 192,000 Square Foot industrial building, a smaller 1 story 8,070 Square Foot industrial building and a parking lot separating the two buildings. The property will be delivered vacant during the first quarter of 2014.
“It is extremely rare that an industrial …

Deals & Dealmakers »

[12 Dec 2012 | One Comment | ]

Marcus & Millichap Real Estate Investment Services, has arranged the sale of a two-property, 44-unit multifamily portfolio located on Manhattan’s Upper West side between Amsterdam Avenue and Broadway Avenue at 215 West 108th St. and 210 West 109th St. The total sales price of $14 million represents $318,182 per unit.
Joe Koicim, a vice president investments, Peter Von Der Ahe, a first vice president investments, and Shlomo Gelernter, an associate, all in Marcus & Millichap’s Manhattan office, represented the seller, a private investor. Scott Edelstein, a vice president investments, and Seth Glasser, …

Deals & Dealmakers »

[12 Dec 2012 | No Comment | ]
Restaurant bigs offer food for thought at ICSC event

By Holly Dutton
Making the grade in the New York City restaurant scene continues to be all about location, according to a panel of eatery executives debating at the International Council of Shopping Centers expo last week.

“If the landlord has an A+ location, he or she knows they have that and there’s very little give on rent,” said Doug Griebel, chairman and co-founder of upscale Mexican cuisine chain Rosa Mexicano.

“You want the A+ location because of the traffic volume.” Griebel was taking part in a “Food as Fashion” panel moderated by Douglas Elliman retail chairman Faith Hope Consolo as a Women’s Special Industry Group presentation during the national conference.

Deals & Dealmakers »

[12 Dec 2012 | No Comment | ]

Cole Real Estate Investments has acquired Canarsie Plaza, a 278,000 s/f shopping center in, Canarsie, Brooklyn.
The $124 million transaction is one of Cole’s largest multi-tenant retail transactions of the year.
Built in 2011, the property is 96% occupied and is anchored tenants including BJ’s Wholesale Club, Planet Fitness and PetSmart. The property also includes a number of specialty retailers.
“This high-quality asset is attractively located in Brooklyn, a vibrant and densely populated borough of New York City,” said Thomas W. Roberts, executive vice president and head of real estate investments for Cole. …

Brokers Weekly, Featured »

[12 Dec 2012 | No Comment | ]
Stribling scion takes reins at luxury brokerage

ne of New York’s most prestigious family-owned residential brokerages, Stribling & Associates, has announced that Elizabeth Ann Stribling-Kivlan has been named president of the 32-year-old firm.

Elizabeth Stribling, who founded the firm in 1980, will assume the role of chairman of her eponymous company.

Kirk Henckels, head of Stribling’s luxury arm, Stribling Private Brokerage, is also taking the position of vice chairman of Stribling & Associates.

“Stribling is more than a real estate company, it’s my home. That’s why it is such an honor to name my only daughter as president of the firm to continue my vision,” said Elizabeth Stribling.

Deals & Dealmakers, Featured »

[12 Dec 2012 | One Comment | ]
Three new hotel projects unveiled

By Orlando Rodriguez
Choice Hotels International Inc. has announced its first foray into the New York metro-area with a $141 million investment into the development of three new Cambria Suites branded hotels targeting an upscale market.

Two of the hotels will be located in Manhattan with the third just north of the city in downtown White Plains.

Collectively, all three locations are expected to add close to 1,000 permanent jobs to the region. Shares of Choice Hotels (NYSE:CHH) rose +1.24% after the announcement.

Deals & Dealmakers »

[12 Dec 2012 | No Comment | ]

Imperium Capital and Bronstein Properties have acquired 309 West 57th Street, in Midtown Manhattan on the West Side. The property was acquired for $42.5 million.
309 West 57th Street is a 75,000 s/f building with 102 apartments located adjacent to Columbus Circle and across from the Hearst Tower, and includes the current 13,700 s/f Providence NYC club and event space, which has a lease for another seven years.
“This is a prime Manhattan location close to Time Warner Center and near a number of new luxury residential developments, attracting buyers from all …

Deals & Dealmakers, Featured »

[12 Dec 2012 | No Comment | ]
Stephen Ross moving Related corporate offices to ‘new heart’ of NYC

The Related Cos. is moving its corporate headquarters to the new Hudson Yards development, chairman Stephen Ross confirmed this week.

“Hudson Yards will be the new heart of New York,” Ross said in a statement to Real Estate Weekly. “With all the elements that make this city great, it is the ideal location for Related’s corporate headquarters.”

The real estate powerhouse hinted the announcement could be a prelude to a series of big deals coming up at the 26-aqcre development which broke ground last week.

“We are in advanced discussions with numerous large-scale corporate tenants,” he said.

Editorial Supplements, Featured »

[12 Dec 2012 | No Comment | ]
No more playing guessing games with people’s safety, says Paterson

Former New York Governor David Paterson is aiming to unite real estate leaders to help the city better prepare for disaster.
As the moderator of a high-powered panel discussion taking place tomorrow (Thursday) Paterson said it is time to stop playing the guessing game when it comes to people’s safety.
He said, “Preparation isn’t about guessing right, it’s about making the most arrangements to limit loss of life and property as much as we can.”

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