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Articles Archive for 23 January 2013

Construction & Design, Deals & Dealmakers »

[23 Jan 2013 | No Comment | ]

The Moinian Group today announced the selection of Avison Young as the exclusive office leasing agent for 3 Hudson Boulevard, a new 1.8 million-square-foot, state-of-the-art building that will be developed in the Hudson Yards district.
The 65-story tower, designed by FXFOWLE, is situated at the intersection of West 34th Street and 11th Avenue, directly across from the Javits Convention Center. It will provide access via an adjacent pavilion to the future 7 Line Extension Subway Station, scheduled to open in 2014.
Additionally, the building will be within walking distance of major transportation …

Brokers Weekly, Featured »

[23 Jan 2013 | No Comment | ]
Mack-Cali starts work on new apartment buildings

Mack-Cali Realty Corporation today announced its Roseland subsidiary has begun construction on two multi-family communities in the Northeast.

The developments include RiverParc at Port Imperial in Weehawken, New Jersey and The Highlands at Overlook Ridge in Malden, Massachusetts.

The announcement comes following Mack’s purchase of Roseland last October as it continues to diversify its predominantly office portfolio.

Brokers Weekly, Featured »

[23 Jan 2013 | No Comment | ]
Mark David co-founders join TOWN Residential

TOWN Residential announced that Mark David Fromm and Claudia Saez-Fromm have joined the company as senior vice presidents.

Mr. and Ms. Fromm previously led Mark David & Company Real Estate as chief executive officer and chief operating officer, respectively.

That company is being “wound down” and the 75 agents will be recruited to TOWN or assisted in their search for positions at other firms, according to reports.

“In their 10 years at the helm of Mark David & Company, Mark and Claudia created an impressive local presence throughout Manhattan and Brooklyn, from the ground up,” said TOWN founder and CEO Andrew Heiberger.

Brokers Weekly »

[23 Jan 2013 | No Comment | ]

Toll Brothers said this week the company is “very excited” about plans for its two newest Manhattan buildings.
The company purchased two new development sites in Manhattan. The first is located at 953-961
First Avenue, between 52nd and 53rd Streets, in the Midtown East area, and the second is located at 82 King Street, between Hudson and Varick Streets, in SoHo.
Toll Brothers plans to building luxury condominium residences and retail space at both sites.
Douglas C. Yearley, Jr., chief executive officer, said: “We are very excited to have purchased such prominent sites. This …

Deals & Dealmakers »

[23 Jan 2013 | No Comment | ]

American Realty Capital New York Recovery REIT, Inc. has entered into a purchase and sale agreement to acquire the fee simple interest in an office building lat 218 West 18th Street in Chelsea.
The interest was sold by a joint venture between Atlas Capital Group and GreenOak Real Estate. The purchase price for the building is $112 million, exclusive of closing costs.
Last year, Atlas and GreenOak purchased the defaulted loan and subsequently took ownership of the property through a prepackaged bankruptcy restructuring.
Since that time, Atlas and GreenOak have entered into lease …

Deals & Dealmakers, Featured »

[23 Jan 2013 | No Comment | ]
Ex-fashion executive following pattern of success

When the Elizabeth Foundation for the Arts found itself in need of an infusion of cash, Winoker Realty’s Jonata Dayan helped the organization pursue an unusual alternative to selling the building it owned on 39th Street — divide the building into condos, and sell half of them.
“They were able to create four block and lot numbers, and sold out two of the office lots and kept the retail space as income for the foundation,” she said.
AS head of Winoker’s commercial condo and co-op division the ex-fashion executive says she thinks like her tenants because she used to be one of them.
“Their requirements are different, their mentality is different, their clock is different. Their business model is not as stable as a law firm. They kind of grow and shrink.”

Deals & Dealmakers, Featured »

[23 Jan 2013 | No Comment | ]
Hotels planned for $33M  Garment District site

The Garment district continues its slow transformation as two more properties change hands, the third in as many weeks of 2013.
Massey Knakal announced Friday the $33 million sale of a 25,000 s/f block-through development site made up of two properties, 321-325 West 35th Street and 320-328 West 36th Street.
The buyer plans to “build a hotel or two on the site” according to brokers involved in the sale.

Deals & Dealmakers, Featured »

[23 Jan 2013 | One Comment | ]
Heritage planning $100M Williamsburg development

Real estate investment firm, Heritage Equity Partners, is planning a $100 million redeveloped of a full Williamsburg block.
Heritage paid $31.75 million for the site at 19 Wythe Avenue , according to public records.
It plans to c redevelop the site into a “marketplace concept” mixed-use commercial site with second floor office space, ground floor retail space, parking and possibly a big-box store.

Brokers Weekly, Featured »

[23 Jan 2013 | 2 Comments | ]
Back in the game: NYC’s licensed sales agents tripled in two years

New York City’s population of licensed real estate professionals has almost tripled in two years, from a total of 5,883 in 2010 to 15,135 at the end of 2012.

The newcomers are often career changers with bachelors degrees or higher, those in the training industry say, but not everyone with a licence is practicing full-time.

Statewide, the number of licences has dropped slightly in the same period.

Deals & Dealmakers, Featured, Retail »

[23 Jan 2013 | No Comment | ]
Brokers predict Fifth Avenue retailers will head downtown

Fifth Avenue is a name known to shoppers around the world, but the avenue is longer than the 11-block stretch between 49th and 60th street where luxury retailers have traditionally forked over sky-high rents for avenue frontage.
And, according to retail experts, there are signs that retailers seeking the cache of the famous thoroughfare will be looking further south in 2013.
“Today people — and particularly tourists — begin on 14th Street and they walk all the way to 60th,” said C&W’s Joanne Podell, who predicts retail growth extending all the way down Fifth Avenue to Union Square.

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