Category : Featured

Lower Manhattan office leasing hits three-year high
Deals & DealmakersFeatured

Lower Manhattan office leasing hits three-year high

REW
by REW1444
Leasing activity in Lower Manhattan has reached a three-year high, driven by interest from TAMI and public sector tenants. According to the Alliance for Downtown New York’s second quarter real estate market report, leasing activity in the area grew by 51 percent year-on-year to 1.2 million s/f, outpacing all other...
Deals & DealmakersFeatured

REBNY partners with StreetEasy rival Realtor.com

REW
by REW1606
The Real Estate Board of New York is partnering with Move, Inc., the operator of Realtor.com, in its latest maneuver against StreetEasy and its Premier Agent feature. REBNY recently launched its own Residential Listing Service, a centralized syndication feed of residential sales and rental listings across the city. The new...
Madison’s $600M retail portfolio purchase hits snag with city lawsuit
Deals & DealmakersFeatured

Madison’s $600M retail portfolio purchase hits snag with city lawsuit

REW
by REW1678
Madison International went into contract to acquire Forest City’s majority stake in a 12-property New York City retail portfolio. The deal, which was announced by Forest City President and CEO David LaRue during an earnings call last week, is expected to close in the fourth quarter. The purchase price for...
Deals & DealmakersFeatured

Fortress closes on $200M deal for Palace Theater retail units

Holly Dutton
by Holly Dutton381
Fortress Investment Group has purchased two commercial condo units at the historic Palace Theater in Times Square for $200 million. The deals went into contract in August of 2015 but didnʼt close until last month. The two condo units were purchased from The Nederland Organization, a group that operates historic...
Brooklyn and Queens closing price gap with Manhattan
FeaturedResidential

Brooklyn and Queens closing price gap with Manhattan

REW
by REW1502
In a market where bidding wars are less common and owners are quick to embrace price cuts, Brooklyn and Queens are defying gravity. The two boroughs, which have long served as escape hatches for high prices in Manhattan, may soon be less loved by bargain hunters. “Brooklyn has become the new...
Deals & DealmakersFeatured

Chinese investors dominant in weak Manhattan market

REW
by REW1106
Chinese investors have emerged as the top source of capital in a weakened Manhattan market. According to a presentation from Cushman & Wakefield, the dollar volume in the borough stood at $9.9 billion in the first half of 2017. On an annualized year-on-year basis, that amounts to a 50 percent decline. The...
City adds 10,000 units to housing target to address rising homelessness
Deals & DealmakersFeatured

City adds 10,000 units to housing target to address rising homelessness

REW
by REW1872
New York City’s affordable housing plan got a revamp from the Department of Housing Preservation and Development, amid recent criticism over homelessness and a shortage of affordable housing under Mayor Bill de Blasio. De Blasio’s 10-year plan that was unveiled in 2014 called for creating and preserving 200,000 units of...
MTA chairman announces $836M plan to fix subway amidst uproar over service
Deals & DealmakersFeatured

MTA chairman announces $836M plan to fix subway amidst uproar over service

REW
by REW1578
After a recent series of finger-pointing between Governor Cuomo, Mayor Bill de Blasio, and MTA chairman Joe Lhota over the deteriorating and problem-plagued subway system, Lhota announced yesterday a $836 million plan to fix the system. In a press conference Tuesday afternoon, Lhota addressed the decline in quality and recent...
Construction & DesignFeatured

New library to be built in Greenpoint

REW
by REW2387
A new library and environmental education center is coming to Greenpoint, Brooklyn Public Library announced. Funded in part by the Greenpoint Community Environmental Fund, the new Greenpoint Library and Environmental Education Center will promote environmental awareness, education and advocacy while providing a forum for community members to learn about the...