Category : Blog

New York needs an action plan to make sure the city’s 60 million tourists a year keep coming back. That’s the warning from the Center for an Urban Future in a new report that provides the first comprehensive analysis of how the city’s tourism boom over the past two decades has impacted New York’s economy. …

Blackstone, the worldʼs biggest alternative asset manager, will buy real estate investment trust Gramercy Property Trust Partners for $7.6 billion, the company announced Monday. The trade will be made at $27.50 per share in a move Gramercy CEO Gordon DuGan called validation of the company’s platform. Since its founding in 2004, Gramercy has built a …

A joint venture of Ginsburg Development Companies and Robert Martin Company has secured a $120 million financing package to redevelop the Westchester Financial Center in White Plains. Avison Young’s New York Capital Markets Group arranged the acquisition and redevelopment loan for the 571,000 s/f office complex located at 50 Main Street and 1-11 Martine Avenue …

Meridian Capital announced the following transactions: • A new mortgage of $13,000,000 on a 31-unit multifamily property located on Lincoln Place in Brooklyn, NY. The loan features a rate of 3.98% and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction. • A new mortgage of $4,000,000 was placed on a cooperative property …

New York’s Buildings Department has finalized training requirements put in place by last year’s safety legislation. Construction workers on most major job sites will have to complete 40 hours of safety instruction while supervisors will have to accumulate 62 hours, according to announcement by Building Commissioner Rick Chandler. “Most construction accidents are preventable, which is …

Fisher Brothers announced today that it has signed a new lease with the Permanent Mission of Japan to the United Nations at 605 Third Avenue, its modernized 1.1 million-square-foot, Class-A office tower in Midtown. Under the 15-year lease, the organization will occupy 50,391 s/f across the entire 27th, 28th, and...

Eastern Consolidated arranged the sale of a package of 15 sponsor-held co-op apartments at 50-54 East Eighth Street in Greenwich Village. The package of apartments, between Mercer and Greene Streets, sold at a discount because they are occupied rentals with the majority classified as rent stabilized. The total market value of the apartments if sold individually as …

New York-based developer JD Carlisle Development Group and Shanghai's Fosun International landed the loan from Bank of the Ozarks to finance 15 East 30th Street, a 66-story luxury tower in NoMad.

The Kaufman Organization and Goldman Sachs Asset Management Private Real Estate have leased two more floors at 155 West 23rd Street. Callisto Media, a publishing company, and Dalberg Consulting have signed separate 6,933 s/f leases for the entire eighth and sixth floors, respectively, leaving just three floors available at the 12-story former Ring building that …

The city has approved a land-use proposal to build a 279-unit affordable housing development on a city-owned parking garage site in Manhattan Valley The project, on West 108th Street between Amsterdam and Columbus avenues, will also include a new community health center, upgrades to an adjacent park, and the renovation of a nearby school athletic …