Category : Featured

Blackstone, Ivanhoe close on $5.45B Stuy Town buy
Featured

Blackstone, Ivanhoe close on $5.45B Stuy Town buy

REW
by REW700
By: Sabina Mollot Blackstone and Ivanhoé Cambridge announced on Friday that they have closed on the $5.45 million purchase of Stuyvesant Town and Peter Cooper Village. The companies have assumed ownership from CWCapital, the special servicer since 2010. The $5.45 billion closing sale beats the record $5.4 billion previously paid...
Blackstone, Ivanhoe Cambridge take ownership of Stuy Town
Deals & DealmakersFeaturedMergers and Acquisitions

Blackstone, Ivanhoe Cambridge take ownership of Stuy Town

REW
by REW4297
By Sabina Mollot On Friday, Blackstone and Ivanhoé Cambridge announced that they closed on the $5.3 billion deal to purchase Stuyvesant Town and Peter Cooper Village. This means that the companies have assumed ownership and CWCapital, the special servicer since 2010, no longer has any ownership interests in the property....
FeaturedREBNY WatchViews

Savills Studley’s Bill Montana to be recognized for the qualities that count

REW
by REW2009
By John Banks, REBNY President REBNY’s Annual Banquet in January will be honoring some of the real estate industry’s top performers and most active contributors, and there are few who fit that description more than William (Bill) Montana, senior managing director of Savills Studley. This year, Bill will be receiving...
Silverstein’s Tal Kerret has his eye on the future while nurturing the past
Deals & DealmakersFeatured

Silverstein’s Tal Kerret has his eye on the future while nurturing the past

REW
by REW3578
Tal Kerret, president of Silverstein Properties, entered the real estate world after a dinner with both his father-in-law and the company’s chairman, Larry Silverstein, in 2011. “It’s hard to say no to Larry, repeatedly,” joked Kerret, who is married to Silverstein’s daughter, Lisa. “He’s a terrific man.” Since coming onboard...
Related, Oxford receives $5B in financing for 30 Hudson Yards tower
Deals & DealmakersFeatured

Related, Oxford receives $5B in financing for 30 Hudson Yards tower

REW
by REW1288
Related Companies and Oxford Properties Group this week confirmed the closing of over $5 billion in financing for 30 Hudson Yards, the site’s flagship office tower, and the one million-square-foot Shops and Restaurants at Hudson Yards. Bank of America served as lead arranger and administrative agent and Wells Fargo and...
Lenders withdraw case in latest Stuy Town suit
Deals & DealmakersFeatured

Lenders withdraw case in latest Stuy Town suit

REW
by REW1297
By Sabina Mollot It was the biggest bust of the last real estate boom, but lawyers battling over Stuyvesant Town money claim everybody won. “Listen, everybody connected with this property is making a lot of money,” said Greg Cross, attorney for the propertyʼs special servicer, CW Capital. Cross was in...
Are we there yet? Analysts see signs that property prices have peaked
Deals & DealmakersFeatured

Are we there yet? Analysts see signs that property prices have peaked

REW
by REW1172
In spite of several economic indicators continuing to exhibit stability, there are signs that property prices are at peak levels and are poised to drift below record highs. “Properties look expensive. If this isn’t the peak, we’re probably close,” said Peter Rothemund, a senior analyst at Green Street Advisors. “Green...
Survey: 39% of Manhattan retailers are from outside the US
FeaturedRetail

Survey: 39% of Manhattan retailers are from outside the US

REW
by REW1089
A first-of-its-kind survey of more than 900 existing retailers in three of Manhattan’s leading shopping districts has found a virtual United Nations of merchants originating from 26 countries. Based on a detailed analysis of three key shopping districts, combined with in-depth research, the Cushman & Wakefield study found that nearly...
Debt & EquityFeaturedHeadlineResidential

Record number of tenants struggling to pay their rent

REW
by REW1381
Due to the combination of stagnant income and rising rental rates, more and more people are struggling to pay for housing. According to a report from the Harvard Joint Center for Housing Studies entitled America’s Rental Housing: Expanding Options for Diverse and Growing Demand, the number of people who can...